U.S. 3-month Treasury auction results as of August 25 - winning Intrerest Rate

#PUMPAI#To da moonTo da moon

I am very glad to have shared some thoughts at WebX in Japan, the core is very simple: the future of finance is on-chain, and Web3 is an inevitable trend.

The Federal Reserve Board of Governors member Cook recently issued a statement, firmly denying Trump’s call for resignation and clearly stating that he will not resign. This incident has sparked widespread discussion about the independence of the Fed. Cook's position is strongly supported by the law. The Federal Reserve Board of Governors enjoys a 14-year term guarantee, and Cook's term will last until 2038. According to relevant laws, governors can only be removed for justifiable reasons such as misconduct, crime, or serious impropriety, and not based on the political will or policy differences of the president. Moreover, the law explicitly limits the president's power to dismiss officials of independent agencies, prohibiting arbitrary replacements based on policy differences. Trump's allegations seem to have many doubts. First, the mortgage issues involved occurred before Cook took office at the Fed, and his background was already reviewed during the Senate confirmation process. Second, the allegation against Cook of "declaring two properties as primary residences" is also controversial, and Cook may explain it as a special circumstance of working across states. Finally, there has been no precedent in nearly a century for a member of the Federal Reserve Board of Governors to be successfully dismissed by the president, and Trump's actions seem more like a form of public pressure. The Federal Reserve, as an independent institution, must maintain its independence. Even if there may be policy differences within the Fed, the entire institution may unite in the face of external political interference. Cook's resistance can be seen as the Fed's overall counterattack against executive intervention, while also reflecting the institution's trust in the judicial process. This event has sparked deep reflection on the independence of the American financial system. As the situation develops, the American financial markets and policy directions may be impacted, which is worth continuous attention.

Last week, an exciting piece of news emerged in the Web3 community. A user unexpectedly received an airdrop reward worth the equivalent of an iPhone for regularly using WalletConnect to connect to several decentralized applications (DApps). This news sparked widespread discussion within the community, and many couldn't help but exclaim that if they had known, they would have connected their wallets more frequently. This phenomenon reflects the unique wealth distribution mechanism within the Web3 ecosystem. In this emerging digital world, genuine user interactions are valued more than mere promotions. Each connection made through WalletConnect is regarded as an effective identity activation within the system. These active identities naturally become the preferred targets for airdrop rewards. The distribution logic of WalletConnect Token (WCT) embodies the core values of the Web3 ecosystem. It is not about rewarding meaningless actions but encouraging the most fundamental and critical behavior—identity connection. The more connections made, the more active the entire ecosystem becomes, and the value of WCT rises accordingly. This explains why early participants often gain unexpected profits of hundreds or even thousands of dollars. However, it should be noted that while market trends and Airdrop opportunities are not always predictable, actively participating in the Web3 ecosystem may still bring unexpected rewards. Every click of "Connect Wallet" could become an opportunity to receive surprise rewards in the future. In the world of Web3, active participation and genuine interaction are key to obtaining potential rewards. Although not everyone can immediately reap benefits after each connection, users who continuously engage with the ecosystem will ultimately benefit from it. This mechanism not only incentivizes user participation but also promotes the healthy development of the entire Web3 ecosystem. With the continuous evolution of Web3 technology, we can foresee that similar rewards mechanisms will become more common and diverse. For ordinary users, maintaining curiosity and enthusiasm for new technologies may be the key to unlocking the treasures of the Web3 world.

Recent data shows that on August 26, 2025, there was a remarkable flow of funds in the crypto assets market. The single-day net inflow for the Ethereum (ETH) Spot ETF reached $443.9 million, while the Bitcoin (BTC) Spot ETF net inflow was $219.1 million. This phenomenon provides us with multiple dimensions to interpret the sentiment and long-term trends of the crypto assets market. From the perspective of capital flow, the inflow scale of ETH Spot ETF is significantly higher than that of BTC, reflecting the market's strong confidence in the potential of the Ethereum ecosystem. As the leader of smart contract platforms, Ethereum continues to release value through technological upgrades and the prosperity of its ecosystem, attracting a large amount of institutional capital. In contrast, although Bitcoin remains the benchmark of Crypto Assets, it is relatively lagging in the expansion of innovative application scenarios, and in the short term, its ability to attract capital has been temporarily diverted by ETH. From the perspective of institutional allocation, the net inflows into ETFs reflect professional investors' long-term strategic optimism towards Crypto Assets. With the deepening integration of traditional finance and the crypto market, ETFs have become the preferred tool for institutions to allocate Crypto Assets as a compliant investment channel. The significant influx of funds not only validates the status of Crypto Assets as mainstream assets but also suggests that the market will enter a value discovery phase led by institutions, which may lead to more rational price fluctuations and increased importance of the long-term development narrative. To understand the impact on market trends, we need to focus on two key points: First, can the influx of funds be sustained? If the ETFs for ETH and BTC can maintain net inflows, it will provide stable liquidity for the crypto market and push the price center upwards. Second, the changes in the competitive landscape of the ecosystem. The funding heat for ETH may accelerate its ecological innovation, such as the explosion of Layer 2 solutions and further upgrades of DeFi, thereby consolidating its leading position. Meanwhile, BTC needs to rely on the narrative of "digital gold" and technological iterations to maintain its competitiveness. However, we also need to be aware of the risks of short-term volatility. The crypto market is still influenced by the macroeconomic environment and regulatory dynamics, and daily capital inflows cannot fully represent long-term trends. Investors should conduct a comprehensive analysis by combining technical and fundamental aspects. In the long term, the continuous net inflow into ETFs reflects institutions' recognition of the long-term allocation value of Crypto Assets, which is becoming a core driving force for the development of the industry. As funds continue to flow in, the institutionalization and compliance of the crypto market will also accelerate, bringing new opportunities and challenges for the development of the entire industry.