Daily Market Wrap | Aug. 20

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Hot Topics

Wyoming launched the Frontier Stable Token, the first fully-reserved U.S. dollar stablecoin by a public entity, on seven blockchains.

Fed's July 2025 meeting showed dissent, with Bowman and Waller pushing for rate cuts.

SEC delayed rulings on crypto ETFs, including XRP, Solana, and Truth Social’s Bitcoin-Ethereum fund, to October 2025.

Fed Vice Chair Michelle Bowman urged banks to adopt crypto and advocated for clear, tailored regulations in a pro-crypto speech.

Ark Invest bought $21.2M in Bullish and $16.2M in Robinhood shares on Tuesday, despite a broad decline in crypto stocks.

Market Updates

Bitcoin whales accumulated 20,000 BTC amid a 6.22% price drop to $114,971.

SkyBridge Capital plans to tokenize $300M of its hedge funds on Avalanche using the ERC-3643 standard, partnering with Tokeny and Apex Group.

Pump.fun surpassed $800M in revenue, regaining lead over LetsBonk as top memecoin deployers return.

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