Today's Highlights
1. FREE WEBINAR — Crypto Tax & SMSF with MWA Specialists
2. U.S. Treasury to Auction $92 Billion in 3-Month Bills
3. Ethena Expands into Equities and Commodities
4. HyENA Announces Market Closure and USDe-Based Operations
5. Chinese PMI Report Released for Week 36
Macro News
U.S. Spot Ethereum ETFs See $225.8M Inflows, Biggest Day in 10 Months
U.S. spot Ethereum ETFs recorded $225.8 million in inflows on Thursday, marking the largest single-day inflow in about 10 months. This extends a nine-day streak of net buying, with cumulative inflows reaching $1.42 billion since August 17.
IREN Shifts to AI Infrastructure, Posts $702M FY Loss
IREN, a former Bitcoin miner now focused on AI infrastructure, reported a $702 million fiscal year loss. The company’s shares fell over 8% following the announcement.
Institutions Pour $580M into Crypto ETFs
Institutional investors injected $580 million into crypto ETFs, with major inflows into Bitcoin, Ethereum, and Solana. However, market sentiment quickly shifted after a hawkish Fed comment.
Warsh Comments Signal No Rate Cuts in Near Term
Federal Reserve comments indicated no immediate plans for rate cuts, with the economy showing signs of strength. Consumer spending and business investment remain robust, reducing the need for easing measures.
U.S. Cities Target AI and Crypto Infrastructure
U.S. cities are implementing restrictions on AI data centers due to concerns over resource consumption, a trend that may also impact crypto mining operations reliant on similar utilities.
Industry Hotspots
The surge in demand for U.S. spot Ethereum ETFs continued, with $225.8 million in inflows on Thursday. This marks the largest single-day inflow in about 10 months and the ninth consecutive day of net buying.
IREN’s transition from Bitcoin mining to AI infrastructure led to a $702 million fiscal year loss. The company’s stock dropped over 8% following the announcement, reflecting market concerns.
U.S. Cities Target AI Data Centers, Crypto Miners May Face Similar Restrictions
U.S. cities are implementing restrictions on AI data centers due to concerns over water, power, and land usage. This trend may also affect crypto mining operations that rely on similar infrastructure.
Avici Confirms $500,859 Refund for Card Drain Incident
Avici confirmed a Solana card vulnerability that drained $500,859 from 1,685 users. The company has pledged to refund all affected users and has patched the issue.
GOLD Team-Linked Wallets Sell 224.5M Tokens for $330K
Following a rug pull, 15 wallets linked to the GOLD project sold 224.5 million tokens for $330,000, achieving a 17x return. The team still holds a significant portion of the remaining tokens.
KOL and Institutions
@elonmusk
Elon Musk announced that SpaceX will offer a 50% discount on Starlink Residential plans for residents near Starbase Louisiana, applicable to eligible new and existing customers in Vermilion Parish.
@Letara
Japanese startup Letara raised $16 million to expand its hybrid rocket technology into space exploration, defense, and security markets. Hybrid rockets combine the benefits of solid and liquid propulsion systems.
@base
Native ETH supply distribution across chains shows @base leading with 771.4K, followed by @arbitrum with 754.2K and @RobinhoodCrypto with 164.5K.
@shlomiz
U.S. markets closed mixed on August 28, with the S&P 500 down 0.25% and the Nasdaq falling 0.52%. The Russell 2000 saw the largest decline at 1.39%.
@0xa7e8
A three-day price increase does not indicate a bull market. The market remains volatile, and the next two months will be critical in determining the trend.
@SnowyDeFAI
BTC is trading at $77,391.00, ETH at $2,427.11, and SOL at $103.81. Market conditions remain dynamic, and investors should stay cautious.
@Warsh
Institutional investors injected $580 million into crypto ETFs, but market sentiment quickly shifted after a hawkish Fed comment, leading to a sharp decline in prices.
Bitwise
Bitwise’s BSOL became the first Solana ETF to surpass $1 billion in AUM, with 9.3 million SOL held. The broader Solana ETF category has attracted $1.7 billion in cumulative flows.
U.S. Spot Ethereum ETFs
U.S. spot Ethereum ETFs attracted $225.8 million in inflows on Thursday, continuing a nine-day streak of net buying with total inflows reaching $1.42 billion since August 17.
Aptos
Aptos activated Circle’s Cross-Chain Transfer Protocol V2, upgrading its USDC infrastructure to settle transactions in seconds instead of minutes.
This content is generated by AI for informational purposes only and does not constitute investment, financial, or trading advice.