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Nasdaq-listed biotech firm Sonnet BioTherapeutics is making a bold move into the digital asset space, unveiling plans to launch an $888 million Hyperliquid (HYPE) token treasury under a newly formed entity.
Quick Take Standard Chartered says stablecoins surprisingly drew more attention than bitcoin during recent U.S. meetings, despite bitcoin hitting record highs. A $750 billion stablecoin market size could influence Treasury issuance and emerging market stability, according to the bank.
Crypto liquidations totaled $469 million, with 125,578 traders affected as Bitcoin, Ethereum, Solana, and Dogecoin entered the spotlight.
Ahead of the June CPI report, the crypto market is showing volatility, with Bitcoin retreating 5% from its $123,000 all-time high.
Solana’s RWA ecosystem has surged 140% year-to-date, with Ondo’s USDY capturing nearly 42% of the market.
Quick Take On the House floor on Tuesday, lawmakers voted 196 to 223 against moving ahead with voting on three bills that were headed to votes this week. A House aide told The Block that they will try again later at 5 p.m. ET.
The Fed, FDIC, and OCC clarify how banks can offer crypto custody services under existing rules without new policies.
- 17:24USDe Market Cap Surpasses $10 Billion for the First Time, ENA Soars Over 186% During the Same PeriodBlockBeats News, August 9—According to official data, the current market capitalization of USDe has surpassed $10 billion for the first time, reaching a record high. Compared to July 4 ($5.31 billion), this marks an increase of $4.69 billion, or 88.3%. During the same period, ENA rose by 186%. At the time of writing, USDe is trading at $1.001; ENA is trading at $0.7449, up 20.77% in the past 24 hours, with its market capitalization rising to $4.911 billion.
- 17:24Sharplink: Ethereum Roadmap Focuses on Network Reconstruction with Decentralization, Intelligence, and Integrity at Its CoreBlockBeats News, August 9 — "ETH's MicroStrategy," Sharplink Gaming, stated in a post that the Ethereum roadmap is not just about scaling finance, but about rebuilding the network with decentralization, intelligence, and integrity at its core. AI agents, physical infrastructure, data streams, and reputation layers all require programmable trust, which is exactly what Ethereum provides.
- 17:24Macro Outlook for Next Week: CPI and PPI Data Incoming, Pro-Crypto Fed Governor May Take OfficeBlockBeats News, August 9 — The key macroeconomic data and events scheduled for release next week are as follows: Tuesday: US July CPI data; 2027 FOMC voting member and Richmond Fed President Thomas Barkin to deliver a speech. Thursday: Chicago Fed President Austan Goolsbee to speak on monetary policy; Atlanta Fed President Raphael Bostic to discuss the US economic outlook; US initial jobless claims for the week ending August 9 and August PPI data. Friday: US July retail sales month-on-month, July import price index month-on-month; US preliminary one-year inflation expectations for August and preliminary University of Michigan Consumer Sentiment Index for August. In addition, former President Trump has announced the nomination of “pro-crypto” official Stephen Miran as a Federal Reserve Board Governor, with a term ending January 31, 2026. Public information shows that during his tenure as Chair of the White House Council of Economic Advisers, he explicitly supported the Trump administration’s crypto-friendly policies. He believes cryptocurrencies have the potential to stimulate economic growth, drive financial innovation, and combat inflation, especially in the context of Trump’s economic agenda. However, the nomination still requires Senate approval. Next week, traders will be closely watching the July CPI and PPI data releases on Tuesday and Thursday, as well as Friday’s retail sales data and the preliminary August University of Michigan Consumer Sentiment report. Even before the effects of reciprocal tariffs come into play, higher-than-expected inflation data could prompt traders to scale back bets on rate cuts.