Techub News Evening Report: Qubic Completes 51% Attack on Monero Network, Global Cryptocurrency Market Cap Exceeds $4.1 Trillion

The National Bank of Belarus has prepared a series of government decisions aimed at making it easier for individuals and businesses to use cryptocurrencies. Belarusian Prime Minister Roman Golovchenko stated that after reporting to President Alexander Lukashenko, they have proposed specific suggestions to incorporate cryptocurrencies and digital financial assets into financial policy. These proposals have received preliminary support from the president, and the draft regulations are already prepared.

According to CoinGecko data, the global cryptocurrency market cap has exceeded $4.1 trillion, currently standing at $4,124,984,759,211, reaching a historic high with a 24-hour increase of 2.1%.

US President Trump posted on social media demanding that Federal Reserve Chairman Powell immediately lower interest rates, accusing him of "always acting too late". Trump stated that he is considering allowing litigation against Powell to proceed. According to Politico, Trump's officials are considering Federal Reserve Vice Chair Jefferson to become the Fed Chairman.

During the 162nd Ethereum Consensus Layer Core Developers Meeting (ACDC), Ethereum developers tentatively set the Ethereum Fusaka mainnet launch date for November 5.

Digital asset trading platform Bullish raised $1.1 billion through its initial public offering, with an issue price of $37 per share. The IPO was oversubscribed over 20 times, with a market value of $5.4 billion. BlackRock and ARK Investment Management intend to collectively subscribe for $200 million in shares. Bullish is led by CEO Tom Farley, former NYSE president, primarily serving institutional clients, with Block.one CEO Brendan Blumer as the largest shareholder (30.1% stake). The company will be listed on the NYSE under the ticker BLSH.

OKX will burn 65,256,712.097 OKB from historical buybacks and reserves at 14:00 Hong Kong time on August 15, and will use a smart contract to automatically burn all OKB transferred to the black hole address. After this operation, manual OKB burning will stop, and the total OKB issuance will be fixed at 21 million. Additionally, X Layer has completed PP upgrade and fully integrated the latest version of Polygon CDK. The X Layer team will phase out technical maintenance and circulation support for OKTChain. OKT has been delisted from the OKX exchange.

Eden Network announced that Archer DAO was established in 2020 to create new income sources for Ethereum miners by realizing MEV profits. In July 2021, the Archer DAO community upgraded and renamed the project to Eden Network. Due to fierce competition in the MEV field and high operating costs, after careful consideration and consultation with community members, Eden Network announced the closure of operations, immediately stopping services for Eden RPC, Eden Bundles, Mempool Stream, etc. Eden Network currently holds 2,000 Ethereum, which will be distributed to EDEN holders at a fixed exchange rate of 0.00001506 ETH/EDEN, with redemption open from now until September 30, 23:59 (UTC), limited to non-US residents. Unstaked token users should exchange and unstake promptly, with remaining funds used for company liquidation.

Kazakh fund management company Fonte Capital launched Central Asia's first spot Bitcoin ETF "BETF" on the Astana International Exchange (AIX). The ETF is custodied by BitGo, supports physical Bitcoin holdings, and provides investors with up to $250 million in insurance coverage. BETF is USD-denominated, allows physical settlement, and aims to reduce tracking error and fees. The product is regulated by the Astana International Financial Centre (AIFC) and is open to Central Asian and international investors, allowing participation without managing private keys or using cryptocurrency exchanges.

Pantera Capital Discloses Over $300 Million Investment in Digital Asset Treasury Companies

Pantera Capital has disclosed a cumulative investment of over $300 million in Digital Asset Treasury (DAT) companies. These companies hold large amounts of crypto assets and enhance per-token holdings through yield strategies. BitMine Immersion, a key Pantera holding, became the world's third-largest DAT company after launching an Ethereum treasury strategy, holding 1.15 million ETH with a market value of around $4.9 billion. Pantera noted that BitMine's first-month per-share ETH growth was approximately 330%, primarily from net issuance and staking rewards.

USDC stablecoin issuer Circle Internet Group and its shareholders plan to sell a total of 10 million shares. According to documents filed with the US Securities and Exchange Commission, Circle will sell 2 million shares, and shareholders including co-founder and CEO Jeremy Allaire will sell 8 million shares. Based on Tuesday's closing price of $163.21, the total share issuance is approximately $1.63 billion. The document indicates that the issuance is led by JPMorgan Chase, Citigroup, and Goldman Sachs.

The US court judge stated that Terraform Labs founder Do Kwon will plead guilty to two conspiracy and wire fraud charges, agreeing to forfeit $19.3 million and some property, in a case involving a cryptocurrency collapse worth over $40 billion.

In a supplementary prospectus filed with the US SEC, BitMine plans to add a new $20 billion "market-based" common stock issuance authorization on top of its previous $2 billion and $2.5 billion issuance quotas, raising the total scale to $24.5 billion to support the purchase of more Ethereum. The document shows that the company has previously sold approximately $4.5 billion in stocks according to the original plan.