For the last 50 years, literally every year, you've had plenty of excuses why you shouldn't invest in the stock market 😨

The economy and rigged markets are so financialized that the price of the S&P 500 is literally doomed to always go up 📈

✅ Bulls had a great day today, Bitcoin rose above $64,000 and is steadily continuing its rise, Ethereum approached the $2,800 mark 🔼

Daily Digest:

🔸 The USDD stablecoin, issued by the TRON DAO Reserve, has lost its Bitcoin backing

🔸 Tether, the issuer of the world’s largest stablecoin, USDT, has calculated to forgo its own blockchain launch 🪀

🔸 NFT platform Magic Eden announced the launch of its token

🔸 Sony Group announced their own Ethereum layer-2 blockchain Soneium 

🔸 JPMorgan estimates the U.S. mining industry to be worth $74 billion ⛏

🔸 Ethereum Foundation deposited 35,000 ETH, worth $94.07M, to Kraken CEX

🔸  RFK Jr. officially drops out of the US presidential race and endorses Donald Trump

🥇 Bitcoin - $64,385 (↑6.3%)
✨ Ethereum - $2,776 (↑5.8%)
🧪 S&P 500 - 5,634 (↑1.15%)
🕗 DXY - 100.68 (↓0.82%)
🌉 Gold - 2,512 (↑1.11%)

Today was a good day 😀

Germany's economy is doomed 🇩🇪

In recent years, for the first time in decades, the country’s trade balance has slipped into a -€1.0 billion deficit. This marks a reversal for the export powerhouse.

🌐 With disrupted supply chains, energy costs soaring, population aging, and global demand falling, Germany's economic engine falters.

If this downward trend continues, the consequences for Germany and the entire European economy could be dire.

The golden era of an export-driven economy fueled by cheap Russian gas may be coming to an end 👋

The founder of the messaging app Telegram, Pavel Durov, has been detained in France at Paris-Le Bourget Airport after he arrived in Paris on a private jet ☄️

The authorities believe that Telegram's lack of moderation, cooperation with law enforcement and the tools it provides make it an accomplice to drug trafficking, pedophilia and fraud.

After this news, the $TON coin fell by 15% 🤑

Pavel Durov's arrest, what's happening 🔴

Pavel Durov is accused of failing to curb Telegram's criminal uses and not cooperating with law enforcement. After he arrived in Paris he was arrested by French law enforcement.

🗣 Durov believes in free speech and has created a platform that the deep state doesn't have access to, so now they've arrested him and want to put him in jail for up to 20 years.

The lawyer of Telegram founder and CEO who has been arrested in France, has said his detention is "absolutely ridiculous" and an attack on freedom of speech.

Durov has received vocal support from Elon Musk, who shared the hashtag #FreePavel and criticized the French government for such anti-free speech policies 🕑

Edward Snowden also supported Pavel, he called the arrest of Durov an attack on the basic human rights to freedom of speech and association.

Even some Russian officials condemned the businessman's arrest, saying it showed the West had double standards when it came to freedom of speech 🤫

✅ It was a fairly uneventful week in the crypto world, until Friday when BTC finally broke out of the price range and is confidently trading above $64,000 since 🔼

Weekly news digest:

💎 Crypto

🔸 After Pavel Durov arrived in Paris he was arrested by French law enforcement, the TON coin went down by 13.3% since it happened

🔸 The USDD stablecoin, issued by the TRON DAO Reserve, has lost its Bitcoin backing

🔸 NFT platform Magic Eden announced the launch of its token

🔸 Sony Group announced their own Ethereum layer-2 blockchain Soneium 🔗

🔸 Jupiter DEX discovered a malicious "Bull Checker" Chrome extension 

🔸 One person lost $55 million in crypto after he signed an unverified transaction

🏦 Crypto exchanges

🔸 Binance announced the upcoming listing of the DOGS token on August 26

🔸 FTX chief restructuring officer and CEO said the plan promises 100% return plus interest for non-governmental creditors

💵 Finances and Economy

🔸 As expected, Jerome Powell indicated that a rate cut is coming in September

🔸 JPMorgan estimates the U.S. mining industry to be worth $74 billion

🔸 Crypto companies have contributed $119 million to election donations 💸

🔸 Tether, the issuer of the world’s largest stablecoin, USDT, has calculated to forgo its blockchain launch

🔸 $13 billion in loans used in the purchase of Twitter are stuck on banks’ balance sheets

⚖️ Law and Order

🔸 Brazil’s securities regulator approved a second Solana exchange-traded fund marking the second such move in August

🔸 Feds will use NFTs to reach out to victims impacted by fraudulent activity from the founder of crypto project CluCoin

 🗣 Personalities

🔸  RFK Jr. officially drops out of the US presidential race and endorses Donald Trump

🔸 Binance founder CZ is not free from prison yet, but was moved to the halfway house in LA 🕐

🔸 AI can make the majority of coders obsolete, AWS chief predicts

🚀 Best performers of the week:

Popcat - $0.794 (↑82.2%)
FET - $1.38 (↑64.9%)
Render - $6.44 (↑40.3%)

A Paris judge has extended Pavel Durov's arrest for another 48 hours, the maximum period of detention can reach up to 120 hours (now 96), so the prosecutor's office will soon have to make a statement or release him 👨‍⚖️

The stablecoin market capitalization, excluding algorithmic stablecoins, has reached $168 billion, its highest point in history 📈

The team behind DOGS announced it identified accounts that were using bot farms for airdrops and removed them from the airdrop list 😎

China’s central bank kept its key policy rates unchanged, underlining market expectations for further easing as the economy struggles to gain traction 🇨🇳

🔹 Last 24 hours top 3 gainers:

FET - $1.32 (↑9.44%)
FLOKI - $0 (↑7.44%)
Bittensor - $347.23 (↑7.05%)

#GM

Spot trading of $DOGS is live on Binance and other exchanges, the token is trading at $0.00142 and volume has already surpassed $150 million 🤑

Are you selling, holding, or buying?

We are currently seeing the largest accumulation of short ETH futures positions since December 2022 😳

Interestingly, December 2020 marked the bottom for the ETH price 📈

Will history repeat itself?

✅ Bitcoin falls to $63,000 amid falling U.S. stock markets, Ethereum slumps more and falls below $2,700 📉

Daily Digest:

🔸 The French press release with charges related to the detention of Telegram CEO Pavel Durov, the accusations are absurd

🔸 Spot trading of $DOGS is live on Binance and other exchanges 🤑

🔸 French president Emmanuel Macron is insisting that Durov's arrest was “in no way a political decision”

🔸 The stablecoin market capitalization has reached a new ATH of $168 billion

🔸 The team behind DOGS announced it identified accounts that were using bot farms for airdrops and removed them from the airdrop list

🔸 China’s central bank announced it kept its key policy rates unchanged 😉

🔸 Multiple French government websites have gone offline in a DDoS attack believed to be linked to a Russian hacker group

🔹 Prices:

🥇 Bitcoin - $63,126 (↓2.1%)
✨ Ethereum - $2,673 (↓4.1%)
🧪 S&P 500 - 5,616 (↓0.32%)
🕗 DXY - 100.88 (↑0.16%)
🌉 Gold - 2,518 (↑0.22%)

With each new cycle, you toughen up 😂

The end of August could produce a very “interesting monthly candle” on the Bitcoin chart, signaling a potential trend reversal. To close this month in the green, bitcoin needs to trade above $64,500 in early September, which would signal to bulls the start of a new uptrend 👀

BlackRock’s Bitcoin exchange-traded fund recorded its largest daily net inflow in 35 days with a $224.1 million net inflow on August 26 😨

Richard Teng, CEO of Binance, issued an appeal to Nigerian authorities to release Tigran Gambaryan, a former U.S. federal agent and Binance employee, who has been unjustly detained 🟠

According to Bloomberg, Russia will use a national payment card system to exchange rubles and crypto on September 1 🌐

🔹 Last 24 hours top 3 gainers:

Helium - $6.75 (↑2.70%)
Maker - $2146.51 (↑1.66%)
Fasttoken - $2.51 (↑0.51%)

#GM

Female respondents were asked if they found a list of 74 hobbies either “attractive” or “unattractive.”

In the overall ranking, crypto was ranked second last, only 23.1% said it was an attractive hobby only collecting Funko toys is considered worse 😭

✅ While the stock market has stopped falling, Bitcoin price dropped to $61,500 but bounced back above $62k, Ethereum is underperforming and falls below $2,600 📉

Daily Digest:

🔸 TON Society, an independent group representing the TON community, issued an open letter to France urging Pavel Durov's release

🔸 Nasdaq seeks SEC approval to start trading Bitcoin options

🔸 76.9% of women find crypto an “unattractive” hobby for men 😳

🔸 BlackRock’s BTC ETF recorded its largest daily net inflow in 35 days with a $224.1 million net inflow

🔸 Richard Teng, CEO of Binance, issued an appeal to Nigerian authorities to release Tigran Gambaryan 🤪

🔸 Russia will use a national payment card system to exchange rubles and crypto on September 1

🔸 Shiba Inu’s marketing head has shared plans to launch a DAO

🔹 Prices:

🥇 Bitcoin - $62,037 (↓2.1%)
✨ Ethereum - $2,584 (↓3.6%)
🧪 S&P 500 - 5,625 (↑0.17%)
🕗 DXY - 100.53 (↓0.31%)
🌉 Gold - 2,524 (↑0.26%)

Market just nuked 😮

🥇 Bitcoin - $60,354 (↓4.6%)

✨ Ethereum - $2,488 (↓7.5%)

More than $137 million in futures positions was liquidated in the last hour 🔽

You see the Aggregated Open Interest indicator?

Almost 10% of all Bitcoin OI (longs) was wiped out in the last 2 hours, big burden is gone 👀