As of August 31st, the circulation of USA ₮ reached 176 million tokens, nearly 10 times higher than the 17.5 million tokens at the end of January. The total reserve assets were $176 million, and the value of over circulating tokens was $660000. USA ₮ is issued by Anchorage Digital Bank, a federally chartered bank, with support from Tether, and complies with GENIUS Act requirements.

Hyperliquid co-founder Jeff Yan stated during South Korean Blockchain Week that 24-hour trading is not the core advantage that distinguishes on chain finance from traditional exchanges, and traditional exchanges are also extending their trading hours. Jeff Yan believes that the enduring difference in on chain finance lies in the ability of users to independently manage assets and the transparency of on chain systems. Self custody is particularly important when the custodian encounters problems. 24-hour trading still holds value for assets that lack quotes during traditional market closures, and on chain markets have the potential to provide global price discovery for private equity assets. (Source: The Block)

Hyperliquid co-founder Jeff Yan stated at Blockchain Week in Korea that 24-hour uninterrupted trading is not the true advantage of on chain finance over traditional trading platforms. The core advantage of on chain finance is that users retain control and custody of funds, and self custody can reduce single point of failure in the event of problems with counterparties, intermediaries, or custodians. The transparency of on chain systems allows users to understand everything happening within the system.

Bloomberg ETF analyst Eric Balchunas stated that despite ongoing negative sentiment in the cryptocurrency market, setbacks in the CLARITY Act, and rising bond yields, Bitcoin prices are gradually rising, and ETF fund inflows are recovering to strong levels. This has left investors who are bearish on Bitcoin feeling frustrated and entering a longer dormant period. This is Eric Balchunas' personal judgment on the current market. (Source: Bloomberg)

At the opening of the US stock market, the Dow Jones Industrial Average rose 93 points, the Nasdaq rose 94 points, and the S&P 500 index rose 0.31%.