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CFTC Opens Next Phase of Crypto Sprint, Seeks Public Input on Broader Rules

The Commodity Futures Trading Commission is proceeding with the third phase of its "crypto sprint," a series of accelerated rulemaking efforts designed to implement recommendations from the President's Working Group on Digital Asset Markets.

"The Administration has made it clear that enabling immediate trading of digital assets at the Federal level is a top priority," acting CFTC chair Caroline Pham wrote in a statement on Thursday.

The CFTC's latest sprint expands beyond spot crypto trading to address all remaining recommendations from the working group's report on strengthening American leadership in technologies such as crypto and digital assets.

Coinbase Expands Stablecoin Offerings in US With Trump-Backed USD1

The USD1 stablecoin from World Liberty Financial—a crypto project backed by President Donald Trump and his sons—is now available for trading on Coinbase, the exchange announced on Thursday. 

America's biggest crypto exchange announced the listing in a Thursday post on X. Eric Trump, the president's son and World Liberty co-founder, then reposted it and said that more news related to the crypto project was coming "very soon."

Coinbase said that it listed the coin because it "strives to bring to market the products and services our customers want." American users can now access USDC, Tether's USDT, USD1, PYUSD, USDS, PAX, and DAI stablecoins on Coinbase.

Singapore Bank DBS Debuts Ethereum-Based Tokenized Structured Notes

Singaporean bank DBS will tokenize structured notes using Ethereum, the company announced Thursday.

The bank said it had partnered with digital platforms ADDX, DigiFT, and HydraX to distribute the product.

Structured notes blend debt securities and derivatives contracts to provide investors with exposure to a range of assets, including stocks and commodities. They are linked to an underlying asset and pay the investor a regular return. 

Customer Support Impersonators Swipe $91 Million in Bitcoin From Investor

A crypto investor lost 783 Bitcoin—valued at $91 million at the time of the attack—on Tuesday after falling victim to a social engineering scam, according to the pseudonymous blockchain sleuth ZachXBT.

The investigator said in a message on Telegram that the victim was approached by individuals impersonating customer support representatives for a hardware wallet manufacturer and a cryptocurrency exchange. The investigator did not identify the impersonated companies in question.

The threat actor made several deposits to Wasabi Wallet, a privacy-focused Bitcoin “mixer” that suspended its services for U.S. users last year, as “the stolen funds began to peel off” across multiple digital wallets, according to ZachXBT.

Bitcoin & Ethereum Spot ETF Flow

The overall net outflow of the US Bitcoin spot ETF on Thursday was $194.32 million. The total net asset value of Bitcoin spot ETFs is $144.48 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.45%.

The Bitcoin spot ETF with the highest net inflow on August 21 was Grayscale Bitcoin Mini Trust ETF (BTC), with a net inflow of $4.97 million.

Source: SoSoValue

The overall net inflow of the US Ethereum spot ETF on Thursday was $287.61 million. The total net asset value of Ethereum spot ETFs is $26.55 billion, and the ETF net asset ratio (market value compared to total Ethereum market value) is 5.18%.

The Ethereum spot ETF with the highest net inflow on August 21 was iShares Ethereum Trust ETF (ETHA), with a net inflow of $233.59 million.

Source: SoSoValue