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Odaily News: Research shows that the tokenized stock market has continued to grow recently. As of 2026, the trading volume of tokenized stock perpetual contracts has increased from approximately $16 billion in 2025 to over $590 billion, with spot trading volume also exceeding $88 billion. Currently, the market mainly features three models: issuer-supported, custodial, and synthetic.

Issuer-supported tokens directly represent stock ownership and correspond to rights such as voting, dividends, and corporate actions; custodial tokens provide corresponding economic rights through securities intermediaries; synthetic tokens are essentially contractual claims against third parties, do not represent direct ownership of the underlying stock, and may face risks such as counterparty, tracking, and corporate action transmission. As the regulatory framework gradually clarifies and blockchain settlement infrastructure matures, demand for tokenized stocks will continue to grow. Investors need to discern whether their holdings represent real equity or synthetic exposure built on top of it, as this will directly determine the rights they enjoy, the risks they bear, and the legal protections they receive. (CoinDesk)

Odaily News: xStocks announced on X that MUx, SKHYx, NVDAx, QQQx, and SPYx are now live as native spot markets on Hyperliquid, supporting 24/7 trading. Each asset has approximately $1 million in liquidity, with an average spread of 8 to 12 basis points. More assets will be listed in the future.

xStocks reminds that these tokens only represent economic exposure to the corresponding assets, not direct ownership, and are not available to U.S. persons, subject to geographical restrictions.

Odaily News: According to MLM monitoring, a wallet cluster suspected to be associated with Sakolkorn Sakavee, co-founder and former chairman of Thai cryptocurrency exchange Bitkub, transferred approximately 34,100 ZEC (about $26.1 million) to the decentralized trading platform Hyperliquid in the past 24 hours.

According to on-chain analysis, the address cluster subsequently sold approximately 24,100 ZEC (about $18.5 million) and purchased 238 BTC. Currently, approximately 10,000 ZEC (about $7.6 million) remains on the Hyperliquid platform, with related sell orders priced around $780.

Odaily News: According to the latest analysis by Nick Timiraos, a Wall Street Journal reporter known as the "Fed whisperer," Federal Reserve Chairman Kevin Warsh faces a core question in his first major speech at Jackson Hole this week: whether persistently high U.S. inflation is caused by one-off shocks such as tariffs and wars, or whether the economy itself remains overheated.

This judgment will directly determine the direction of interest rates, and it is also the biggest disagreement within the Federal Reserve. At the July meeting, three officials supported a rate hike, and other officials also signaled the possibility of further tightening, while Warsh has remained noncommittal. Since taking office, he has deliberately reduced policy guidance, and now both the market and his Fed colleagues are waiting for his first systematic explanation of his views.

The key to Warsh's tenure ultimately depends on how he explains why the previous policy failed to bring inflation back to 2%. If the rate cuts and employment-supportive policies of the past two years were themselves wrong, because the labor market is actually stronger than the Fed judged, then Warsh needs to push for reversing the rate cuts. But this would conflict with the stance of Trump and Bessent, who have previously called for further rate cuts. (WSJ)

Odaily News: According to sources familiar with the matter, JPMorgan recently evaluated launching its own stablecoin. (Bloomberg)

Odaily News: Flop Labs has unveiled the preliminary token economics for FLOP, with no VC allocation or presale. All FLOP tokens must be earned through network participation, with a projected cumulative supply of 17.2 billion tokens by year 10 and a final annual inflation rate of 0.6%.

In terms of token allocation, 8.8 billion FLOP will be allocated to miners, accounting for 51.2% of the total supply;

3.5 billion tokens will be used for airdrops, accounting for 20.4%, with miners, validators, and agents receiving 1.2 billion, 310 million, and 1.2 billion tokens respectively, and an additional 790 million reserved for reserves and incentives.

The team and foundation will receive 2 billion tokens, accounting for 11.4%;

Validators will receive 1.2 billion tokens, accounting for 6.9%;

Brokers and agents will receive 1.2 billion tokens, accounting for 6.8%;

Staking rewards will be 600 million tokens, accounting for 3.4%.

Odaily News: According to an official announcement, MiniMax has revised the annual cap on its API and cloud services agreement with Alibaba.

Odaily News: As a long-term Wall Street bull, Yardeni Research President Ed Yardeni remains highly enthusiastic, having raised his year-end S&P 500 target three times this year, from 7,700 to 8,250, and then to 8,400. He believes that the internet bubble of that era was primarily driven by the fear of missing out (FOMO), with the S&P 500 forward P/E ratio once rising to 25 times, and the tech sector reaching about 55 times. Now, the market is driven by "fantastic earnings momentum" (FEMO). As earnings expectations continue to be revised upward, market valuation multiples have instead declined. Currently, the semiconductor sector's P/E ratio is about 17 times, and the overall market is about 20 times, far below the bubble period of 1999.

Ed Yardeni stated that as long as the U.S. economy does not fall into recession, the "Roaring 2020s" still has about an 80% chance of continuing. Even in the event of geopolitical shocks, historical market pullbacks often provide opportunities to re-enter.

Regarding the AI rally, Ed Yardeni is more cautious. He believes there is currently "AI fatigue" in the market, making it difficult to determine the ultimate winners and losers, so he does not recommend investors directly chase individual AI stocks. If they wish to participate in the AI theme, it is more suitable to diversify through index funds such as the Nasdaq 100. (Morningstar)

Odaily News: U.S. EIA strategic petroleum reserve stocks fell 3.7 million barrels for the week ending Aug. 21, compared with a prior decline of 5.268 million barrels.

U.S. EIA crude oil inventories rose by 95,000 barrels for the week ending Aug. 21, versus expectations of a 597,000-barrel increase and a prior build of 4.405 million barrels.

U.S. EIA crude oil inventories at Cushing, Oklahoma, rose by 1.176 million barrels for the week ending Aug. 21, compared with a prior draw of 1.314 million barrels. (Jin Shi)

Odaily News: Bitcoin News posted on X platform that Strive Asset Management purchased 1,110 bitcoins for approximately $81.5 million, increasing its bitcoin holdings to 21,356 BTC. Based on a bitcoin price of approximately $80,000, the holdings are valued at about $1.7 billion, making Strive the seventh largest public company in terms of bitcoin reserves.

According to a filing with the U.S. Securities and Exchange Commission, Strive completed the purchase between August 17 and 21, with an average purchase price of $73,409 per bitcoin, including fees and related expenses. This purchase increased its bitcoin holdings by approximately 5.5% from the previous 20,246 BTC.

Strive raised funds by issuing additional shares of ASST common stock and SATA preferred stock to execute its bitcoin reserve strategy. During the same period, its Class A shares increased by approximately 3.65 million shares to 79.89 million shares, and it issued 441,313 shares of SATA preferred stock. Due to the increase in share count, Strive's total bitcoin holdings grew by approximately 5.5%, but bitcoin holdings per fully diluted share increased by only about 1.4%.

Strive CEO Matt Cole posted on X that the company newly purchased 1,110 bitcoins at an average cost of $73,409 per bitcoin, bringing total holdings to 21,356 BTC.

Previously, in August, Strive purchased 147 bitcoins at an average price of over $64,800 per bitcoin, followed by 79 bitcoins at an average price of $63,231 per bitcoin, totaling 226 bitcoins. In June, Strive purchased 2,500 bitcoins for $185.2 million, increasing its holdings to 19,000 BTC.

As of August 21, Strive's cash and cash equivalents increased from approximately $154.8 million to $171.9 million. The price of SATA preferred stock is approximately $100, and the annualized dividend yield was raised to 13% in April.

Odaily News: The core Personal Consumption Expenditures (PCE) price index rose 0.2% month-over-month and 3.3% year-over-year in [Month], both in line with expectations. Ellen Zentner, chief economic strategist at Morgan Stanley Wealth Management, commented: "The modest upside surprise in today's inflation data, along with relatively strong economic performance, is not what investors or the Fed would like to see. However, this data is not sufficient to tip the scales for the September Federal Open Market Committee (FOMC) meeting." (Yahoo Finance)

Odaily News: The U.S. Department of Justice announced that Kwanghee Anh, a 46-year-old Dallas resident, was sentenced to 58 months in federal prison for her involvement in a multi-year bank loan fraud scheme and was ordered to pay approximately $8.34 million in restitution to affected financial institutions.

Anh pleaded guilty on March 17 to one count of conspiracy to commit bank fraud. Prosecutors said that between January 2014 and March 2016, Anh and her accomplices, while working at Preferred Marketing Group, forged numerous financial documents, including false IRS W-2 forms, pay stubs, and employment records, to inflate clients' income, fabricate employment status, and help clients submit loan applications containing false information to lenders.

The investigation revealed that the fraud ring caused multiple lenders, including federally insured financial institutions, to issue at least $10 million in fraudulent loans and credit products, resulting in losses exceeding $8.3 million to the financial institutions.

Odaily News: Zhipu AI officially announced the launch and open-sourcing of GLM-5.3-Flash, the first native multimodal model in the GLM-5 series.

It is reported that GLM-5.3-Flash outperforms GLM-5.2 overall, with programming and Agent evaluations approaching Claude Opus 4.8, but at only one-tenth the price of GLM-5.2. It also features a new base model, introducing for the first time in the main GLM series a hybrid architecture combining sparse attention and linear attention, and was pre-trained on 30T tokens of multimodal data.