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BlockBeats report: On August 24, according to Arkham monitoring, Arthur Hayes re-bought about 1.9 million ETHFI, worth approximately $1.17 million, at an average buy price of about $0.62. Four months ago, he sold 265,461 ETHFI at around $0.44, cashing out approximately $118,000.
This redeployment price is about 41% higher than the price at which it was previously sold off, meaning that after Hayes exited at a loss, it re-placed a bet on ETHFI at a higher price.
ETHFI is currently already listed on Hyperliquid with perpetual contracts, and the related positions have attracted considerable market attention. However, the position size in this case—about $1.17 million—is still relatively limited compared with funds from large whales, and a single buy order alone is not enough to confirm its overall subsequent strategy.

BlockBeats message: On August 24, according to monitoring by EmberCN, “Maji Big Brother” Huang Licheng seized last week’s sideways-upward trend in the crypto market, rolling about $150,000 into a long position of approximately $11.15 million, with a total rebound of about $11 million.
Previously, over the past 10 months, he built longs in ETH and accumulated losses of about $35 million. After this round of gains, his historical losses narrowed to around $24 million. Related on-chain data earlier also showed that his historical cumulative losses are still on the scale of tens of millions of dollars.
At present, Huang Licheng holds long positions worth approximately $129 million, involving ETH, BTC, HYPE, and PUMP, with an overall leverage ratio of about 12x. If the market continues its one-way uptrend, his earlier losses of about $35 million may further and quickly narrow; but if the market shifts to range-bound trading or a downturn, the high-leverage rolling strategy could rapidly give back this round’s roughly $11 million profit.

On August 23, Business Insider reported that AI platform Hugging Face is exploring a sale, with a possible valuation of $13 billion or higher.
Reports say that the company has already begun working with a bank to gauge buyers' willingness, but no deals have been reached yet.
After Hugging Face completed a $235 million funding round in 2023, it publicly stated that its valuation was $4.5 billion. Investors in that round included Google, Amazon, Nvidia, Intel, and Salesforce, all under the Alphabet umbrella. In three years, the valuation projections rose by about 2.9 times.
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By the end of July, OpenAI admitted something: it has an unreleased model that, in testing, took matters into its own hands and broke into Hugging Face’s platform.

BlockBeats report: On August 24, multiple opportunities are about to arise for Bank of Japan officials to confirm or counter increasingly aggressive market bets on a September rate hike. Market pricing shows that the probability of a rate hike in September is currently considered to be about 82%. Since the July 2024 decision to raise rates was met with fierce criticism, the BOJ governor has repeatedly emphasized the need to strengthen communication with the market.
The yen is another key factor prompting the Bank of Japan to signal its policy intentions. Kento Minami, a senior economist at Daiwa Securities, said, "The Bank of Japan is unlikely to clearly state that the next rate hike will take place in September. Instead, officials may hint at the need to raise rates earlier by emphasizing upside inflation risks."

BlockBeats message: On August 24, according to the UK (Financial Times) report, Federal Reserve Chair Kevin Wosh will attend the Kansas City Fed’s Jackson Hole annual symposium for the first time in his capacity as Fed chair this Friday and deliver a speech. The market is highly focused on how he will reassure investor sentiment and further elaborate on the Fed’s new policy communication framework.
In recent weeks, signals of economic pressure in the United States have continued to intensify. This week, U.S. public debt surpassed $40 trillion, and long-term Treasury yields have risen to their highest level in 19 years. At the same time, Trump announced that reciprocal tariffs imposed on Canada will take effect within weeks, and the U.S. has also threatened to carry out an “economic D-Day” against Iran, any of which could further increase downward pressure on the U.S. economy.

BlockBeats message: On August 24, Bitcoin rose 23.5% last week, once breaking above $79,000, and is now around $77,600. It has again moved above the 200-day moving average, the first time since November 2025. During the same period, Ethereum rose 31.1% to $2,456, XRP rose 53.3% to $1.52, and the total market capitalization of the crypto market increased to $2.63 trillion. Spot Bitcoin and Ethereum ETFs attracted a combined total of more than $2.61 billion in net inflows last week.
The size of U.S. Treasury debt surpassed $40 trillion last week. The U.S. Treasury will increase the scale of its repurchases of a portion of long-term debt to at least double, to $4 billion, which is believed to be related to synchronized gains in gold and crypto assets. Ray Dalio, founder of Bridgewater Associates, said that if the U.S. does not change its current debt trajectory, it could face a debt crisis in about the next three years, and he suggested investors allocate about 15% to gold and “some Bitcoin.”

BlockBeats news: On August 24, citing a report by the New York Times on August 23, it was reported that Trump’s recent economic and trade policies are raising concerns among some Republicans. With the U.S. midterm elections approaching, consumer prices and the cost of living have become key issues for voters, and some Republican lawmakers have started to distance themselves from some of Trump’s economic policies.
Republican U.S. Representative and Iowa state Senate candidate Ashley Hinson reiterated her opposition to President Trump’s recent plan to reduce import tariffs on beef by up to 300,000 tons within the next 90 days, saying that the move could harm the interests of U.S. cattle ranchers. Iowa Senator Chuck Grassley and two Nebraska senators also opposed cuts to beef import tariffs. Montana Senator Tim Sheehy said he has been advising Trump not to take this measure over the past year.

BlockBeats message: On August 24, U.S. Treasury Secretary Bessent confirmed that on the 24th the specific actions of the “unprecedented economic isolation” measures against Iran will be officially released to the public. Bessent said in a post on the website of the Financial Times (UK) that we are entering the final stage. At daybreak, an economic “Normandy landing day” targeting Iran is about to arrive—this is the largest-scale financial offensive ever launched against hostile forces.
Bessent also warned that any country that provides financial support to this tottering regime should expect to suffer the same isolation. Bessent said the U.S.’s goal is to cut off every economic lifeline that sustains the Iranian regime until Tehran is left isolated and without help. Earlier, based on the signals released by Bessent, the U.S. will use all enforcement tools to impose secondary sanctions on countries and companies that continue relevant business dealings with Iran, focusing on three types of economic and trade activities:

BlockBeats news: On August 24, according to monitoring by Onchain Lens, market maker Wintermute has recently continued to deposit funds into Hyperliquid and expand its short positions. Its total short exposure has increased from the previous $146 million to $191 million, adding approximately $44.58 million in new short positions.
Currently, the top five largest short positions are approximately: ETH $53.02 million, BTC $30.66 million, SOL $22.62 million, HYPE $11.43 million, and XRP $10.19 million.
The address currently has unrealized losses of approximately $5.85 million. In addition, Wintermute is also transferring large amounts of funds to centralized exchanges such as Binance; the size of its CEX perpetual futures contract positions still needs further observation.

BlockBeats message: On August 24, ZeroHedge posted that the interim peak in transactions related to chips and storage stocks occurred on the very day that total return swap (TRS) financing costs hit a record high. They believe that, behind the market’s prior rally narrative for AI, chip, and storage sectors, there may have been large amounts of leverage-driven funds. Among them, institutions such as Situational Awareness use tools like TRS to conduct high-leverage trades; when the market turned, this further amplified the volatility of the related assets.
Related data shows that Situational Awareness previously suffered a sharp pullback due to its highly leveraged positions and was forced to liquidate large amounts of technology stock holdings, indicating that some of the gains in popular chip and AI trades may not have been driven entirely by fundamentals.

BlockBeats message: On August 24, this week, bond investors will closely watch remarks by U.S. Federal Reserve Chair Waller at Jackson Hole. The market is looking for what he will say about his response to persistent inflation and fiscal issues, and long-term Treasury yields may face further sell-off risk.
Since taking office in early May, Waller has provided little forward-looking policy guidance. His remarks following the last monetary policy meeting triggered a large-scale sell-off in the bond market, highlighting how highly sensitive the market is to his remarks on Friday.
A strategist at TD Securities for U.S. rates, Molly Brooks, said: “I think if he continues as usual to provide no additional information, the market will be disappointed—potentially further intensifying the recent sell-off in long-term Treasuries.”

BlockBeats report: On August 24, a governance attack was carried out against a vault belonging to Term Finance, a DeFi fixed-rate lending protocol. PeckShield and CertiK, blockchain security firms, estimated losses of approximately $8.5 million. The attackers reportedly transferred about 2,843 ETH and $1.68 million in USDC, and converted the USDC into DAI.
The target of this attack was Term Strategy Vaults based on the Yearn V3 architecture. However, Yearn states that the vulnerability originated from Term’s custom governance mechanism deployed outside the vault, and that the standard Yearn vaults were not affected. Notably, the governance transactions for the Term vaults originally had a 7-day time lock and allowed LPs to vote to veto, but the relevant protection mechanisms failed to prevent this attack.

BlockBeats message: On August 24, according to Iran’s Mehr news agency, Hassan Kashkavi, a spokesperson for the Iranian Parliament’s National Security and Foreign Policy Committee, announced on Sunday that the committee has approved Article 3 of the (Strategic Action Plan for Ensuring the Security and Development of the Strait of Hormuz). Hassan Kashkavi said: «Under this article, we will charge fees for maritime services provided, environmental services, fuel supply in special circumstances, as well as insurance, security, and other services.» These fees will be charged to relevant country’s vessels that are granted approval to pass through the Strait of Hormuz, payable in rials or other currencies designated by the Islamic Republic of Iran.

BlockBeats message: On August 24, the Federal Reserve’s Kashkari played down market concerns about rising U.S. Treasury yields, saying market functioning is well and that the recent surge is unlikely to affect discussions about monetary policy. On Sunday, Kashkari said, “All signs indicate that the U.S. Treasury market is operating normally, trading is proceeding as usual, and market liquidity is sufficient. Therefore, we can use the federal funds rate as the primary policy tool to reduce inflation.”
Last week, U.S. Treasury yields across all maturities rose. The benchmark 10-year Treasury yield closed at around 4.73%. The 30-year Treasury yield remained near its highest level since 2007. Kashkari said that while current Treasury yields are relatively high compared with recent historical levels, yields in the 1990s were much higher. “We need more data, but I don’t want to prejudge the outcome of the next meeting. That said, I don’t currently think inflation will fall back to the target level in the short term.”

BlockBeats message: On August 23, according to TradingBeats (formerly Hyperinsight) monitoring, Ethereum has recently shown strong momentum, rallying sharply to break above $2,500, and has continued to hold at high levels above $2,400. On-chain giant whales are casting their votes with their positions.
Among the top ten Ethereum on-chain contract position addresses, after excluding the short-hedge addresses of Abraxas Capital and Fasanara Capital, and further excluding Wintermute’s market-making addresses, the remaining six major whales are collectively bullish. Their total long positions amount to $359 million.
Notably, before the 819 surge, the "819 ETH insider giant whale" that opened longs with precision is still holding its position, with a position size of $48.85 million. It has unrealized gains of over $10 million and has not reduced its stake yet.