Weekend Recommended Read: OKB big pump, Kanye's issue coin doubts loom large

Organizer: Nona

This week's focus

"With the four-year period approaching, will this bear market arrive on time?"

Although the economic data in the United States has not clearly shown signs of recession this year, I would like to remind readers that once a recession can be reflected in the data, it often has already become an irreversible trend.

The cryptocurrency market has been declining for days, with weak rebounds. What other catalysts are there in the market?

Multiple factors combined have ultimately led to the market continuing to decline over the past few days without any significant bearish news. So, has the bull market peaked? Based on multiple data analyses, it has not yet reached its peak.

"Kanye meme market cap surpasses $3 billion in seconds, accused of insider trading"

Unlike previous celebrities who simply issued coins, Ye has introduced YZY Money, Ye Pay, and YZY Card this time, seemingly aligning with the Trump family's WLFI to attach so-called application scenarios to the tokens. It is also noteworthy that the official documentation for YZY Money includes a "class action waiver" clause, which explicitly requires users to waive their rights to join class action lawsuits and bear related legal costs.

"Wyoming Launches the First State-Level Stablecoin in the U.S., a New Milestone in Crypto Legislative Experimentation"

Last night, Wyoming announced the launch of the stablecoin Frontier (FRNT), backed by US dollars and short-term government bonds, becoming the first state in the United States to issue a stablecoin. This marks a substantial achievement in the state's exploration of stablecoins, which began in 2023. This move also reaffirms the capability of this "Cowboy State" with a population of less than 600,000 to lead in cryptocurrency legislation and practice.

"Behind the 500% Surge of OKB: Is it a Frenzy of Emotions or a Reassessment of Value?"

The surge of OKB reflects the optimism of cryptocurrency market investors towards the future of X Layer and the sentiment surrounding OKX's listing in the U.S. In this rapidly evolving market, the story of OKB may just be the prelude to a larger wave.

Featured Recommendations

"Issuance of Hong Kong Dollar Stablecoin: On-chain Reconstruction Based on the Linked Exchange Rate System and the Essential Differences with CBDC"

If the underlying technology for the issuance of the Hong Kong dollar is replaced with blockchain, it would form a "Hong Kong Dollar Stablecoin." This model can effectively address the three core issues of stablecoin issuance: the absence of rescue, lack of transparency in credit, and naming confusion, thus avoiding the "over-leverage" risk of repeated issuance of stablecoins based on pegged currencies.

"The Battle for the Fed Chair: Which of the 11 Candidates Will Control Monetary Policy?"

Starting from Labor Day on September 1, Besant will meet with these candidates one by one to select the final nominee for President Trump. Previously, Trump did not hide his dissatisfaction with the current Chairman Powell, repeatedly calling him a "numbskull" and a "moron" in public. He desires a more "submissive" Federal Reserve Chairman, but also needs to maintain the independence reputation of the Federal Reserve.

"Hyperliquid Deep Dive: The DeFi Legend from Zero to Trillions"

Hyperliquid grew from zero to over 600,000 users in just two years, its growth trajectory is phenomenal. In 2023, the project was quietly launched, with no press conference and no marketing budget; Jeff Yan simply "opened the door and observed the changes." However, the result was explosive: in just 100 days, the daily trading volume surpassed $1 billion.

"Structural Concerns of Ethereum Microstrategy: Valuation Mechanism and Risk Evolution Analysis Based on the mNAV Flywheel Model"

In retrospect of the collapse following the ICO boom, the market is not lacking in memories of structural belief fractures. The difference this time is that the "shell" comes from a publicly listed company in the US stock market; however, the similarity is that, without endogenous cash flow and real business support, any mechanism of "exchanging capital for trust" will ultimately struggle to withstand the test of time.

"Who Will Take the Lead Among the Three Horses of US Stock Tokenization? A Detailed Explanation of the Differences Between StableStocks, xStocks, and Robinhood"

In this competition, three forces are emerging, representing three distinctly different paths: the "dimension reduction strike" of internet brokerage giant Robinhood, the "open Lego" of DeFi-native xStocks (issued by Backed Finance and distributed by Kraken and others), and the "hybrid model" of the mysterious newcomer StableStocks supported by institutions like Matrix Partners.

Ten news stories not to be missed this week

MetaMask will launch the stablecoin mUSD on Ethereum and Linea.

Kanye West X account announces the launch of token YZY

Hong Kong Ming Cheng Group plans to invest 483 million USD to purchase 4,250 bitcoins.

Sources say that China may allow the yuan to support stablecoins for the first time to promote internationalization.

Illinois in the United States has signed the first cryptocurrency consumer protection bill in the Midwest.

Eleanor Terrett: Wyoming launches the Frontier stablecoin FRNT, becoming the first state in the US to issue a stablecoin.

Hong Kong establishes a professional committee for anti-money laundering in digital assets, with participation from Round Coin Innovation Technology and others.

Thailand launches "Tourist Wallet", cryptocurrency features still in sandbox testing phase

Zhaoyin International Securities officially launched virtual asset trading services.

The LayerZero Foundation's acquisition proposal for StarGate has opened for voting, currently with a support rate of 97.09%.