Trump Media has reached a significant milestone by finalizing a purchase agreement with Crypto.com to acquire 684.4 million Cronos (CRO) tokens. The deal will entail a balanced exchange, with half of the transaction being executed in stock and the other half in cash.
In related developments, Crypto.com has expanded its collaboration with the Axelar Foundation and Frax to bolster its institutional custody services, enhancing the security and management of digital assets. Meanwhile, Ethereum (ETH) reserves on centralized exchanges have plummeted to a three-year low of 17.3 million, reflecting a 38% decline since September 2022. Over 2.4 million ETH has exited exchanges in the last three months, driven largely by increased demand from investment funds and corporate buyers.
An analysis of the recent activity in the crypto markets indicates mixed sentiment. In the past five trading days, U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs) experienced a substantial net inflow of $124 million, though this was down from $441 million the prior week. Conversely, spot ETH ETFs recorded a significant net outflow of $952 million, a stark contrast to the $1.1 billion net inflow observed the previous week.
On the macroeconomic front, the U.S. ISM Manufacturing PMI has contracted for six consecutive months, coming in at 48.7 for August. Despite a small increase of 22,000 in Nonfarm Payrolls during the same month, this number fell short of the 75,000 forecasted by Dow Jones economists. The unemployment rate also saw a rise to 4.3%, which is the highest it has been since 2021, indicating a softening labor market.
Looking ahead, the CME FedWatch Tool currently indicates a 90% probability of an interest rate cut in September, up from 87% the previous week. Notable upcoming events include the U.S. Consumer Price Index (CPI), the Producer Price Index excluding Food and Energy, and the European Central Bank’s interest rate decision.
In other market activities, Ondo Finance has launched Ondo Global Markets on the Ethereum blockchain. The price index across various tokens increased by 1.04% last week, albeit with decreased volume and volatility, which fell by 25.29% and 26.24%, respectively. Notably, DOGE recorded a rise of 8.74%, coinciding with Thumzup, a media corporation linked to the Trump family, executing agreements to acquire a Dogecoin mining operation. Additionally, it has been reported that the first Dogecoin ETF, the REX-Osprey DOGE ETF, is set to launch in the U.S. soon.
In a broader analysis of the top-cap tokens, BTC rose by 1.8%, while ETH remained stable. All major categories saw an increase in market capitalization, with the Meme category leading the charge.
In regulatory news, the U.S. Senate has unveiled the latest draft of the Responsible Financial Innovation Act of 2025. This landmark legislation aims to provide clarity on the regulatory frameworks surrounding cryptocurrency, specifically how the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) oversee crypto assets. It proposes a joint committee to harmonize regulations, enhancing coordination across regulatory bodies.
Additionally, both the SEC and CFTC have clarified that registered U.S. exchanges can facilitate spot trading of specific crypto assets. A roundtable discussion is scheduled for the end of September to cover various pressing topics, including event contracts and decentralized finance.
Over in South Korea, the Financial Services Commission has released new crypto lending guidelines that impose a 20% interest rate cap, prohibit leveraged lending surpassing collateral value, and limit lending to the top 20 cryptocurrencies by market capitalization.
Japan’s Financial Services Agency (FSA) is considering moving crypto regulation oversight from the Payment Services Act to the stricter Financial Instruments and Exchange Act, aiming to better protect investors and align crypto laws with existing securities regulations.
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