加密城市 Crypto City

Robinhood 執行長 Vlad Tenev 近日受邀做客 CNBC 財經節目「Squawk Box」，深入解析「川普帳戶」（Trump Accounts）的運作機制、資產代幣化的未來趨勢，及其對整體資本市場結構的影響，Tenev 獲邀出席白宮舉辦的加密高峰會，他以致力於推動散戶經濟的科技公司創辦人身份，站在關鍵的 C 位為川普背書，相關觀點備受各界關注。
川普帳戶用戶可從出生起，透過低成本投資標普 500 指數 ETF
Tenev 解釋道，川普帳戶的運作架構著重於降低大眾參與金融市場的門檻，該政策以 State Street Investment Management 管理的低成本指數股票型基金 State Street SPDR Portfolio S&P 500 ETF (SPYM) 為預設標的，讓用戶得以連結追蹤標普 500 指數，透過涵蓋美國大型公開上市企業的多元化投資組合、結合低成本資產管理工具，讓每個美國人自出生起，即可透過長期再投資效應累積資產，實現長期複利 (Compound Interest）成長。
川普帳戶如何運作？
川普帳戶旨在為所有美國人提供一種簡單便捷的投資方式，讓他們從出生起就能開始投資，目前，這些帳戶透過 State Street Investment Management 管理 ETF 基金，為用戶提供投資標普 500 指數的機會，使得投資散戶能夠持有知名公司的股份。
複利如何促進長期財富
在孩子出生時就開設帳戶投資 ETF，可以長期利用「複利的魔力」獲得財富，透過持續投資標普 500 指數，投資收益可以不斷的累進，從而創造長期財富。
川普帳戶為何能幫助孩子？
Tenev 表示讓孩子從出生起就透過投資低成本 ETF 參與美國經濟，可以儘早持有標普 500 公司股份，這些帳戶可以幫助家庭在長期投資中獲得複利。
資產代幣化為全球金融關鍵趨勢
Vlad Tenev 指出資產代幣化（Tokenization）為金融體系全球化的關鍵趨勢，基於區塊鏈的基礎設施，支援即時清算與結算，打破傳統交易時間與地理限制，使全球多個國家的投資人得以全天候參與市場，進一步提升整體市場的運作效率與流動性。
區塊鏈拓展私募市場投資管道
執行長表示當前資本市場中，一般散戶投資人往往難以參與未上市高成長企業的價值創造過程，基於區塊鏈的底層架構為解決私募資產流動性不足的潛在方案，透過技術降低參與門檻，過去受到限制的資產類別得以向更廣泛的投資族群開放，促進投資管道的普及化。
台灣推動幼兒投資帳戶的可行路徑參考
「川普帳戶」自推出以來即引發國際金融界關注。透過 Robinhood 執行長 Vlad Tenev 的解析，這項政策不僅展現了資本市場結構的創新，也提供台灣延伸思考的範本：若在國內推行類似政策，是否有助於縮小貧富差距、提升全民財富？值得注意的是，在白宮近期召開的加密高峰會中，Tenev 作為致力推動散戶經濟的科技公司創辦人，站上關鍵 C 位為「川普帳戶」政策背書，這說明了結合金融科技與政策誘因，讓國民自幼參與經濟成長，已成為資本市場民主化的重要發展方向。
本文經授權轉載自：《鏈新聞》
原文標題：《Robinhood 執行長講解「川普帳戶」如何實現「長期複利」》
原文作者：Neo
『Robinhood執行長講解「川普帳戶」！全民從小投資標普，實現長期複利』這篇文章最早發佈於『加密城市』

Bitcoin surges toward $80,000; the shuttered BitMart suddenly announces a restructuring
Recently, the cryptocurrency market has seen a surge, with Bitcoin briefly climbing to around $80,000 and setting a new high in nearly three months. Just as market sentiment began to heat up, BitMart, a crypto exchange that had only recently announced it was stopping operations, issued a notice on August 21 stating that it is drafting a potential restructuring plan as an alternative to full closure and liquidation.
In the announcement, BitMart said that after further consultations with users, relevant stakeholders, and professional advisors, the restructuring plan may include a structured, phased resumption of some business operations, along with distributing assets to creditors. The related arrangements still require further evaluation from legal, financial, operational, and compliance perspectives.

Crypto City note: This article was written by (ChainNews) and published on 8/23. Any changes in Machi Big Brother’s holdings must be based on the latest on-chain data.
“Machi Big Brother,” Huang Licheng (Machi Big Brother), who has repeatedly been liquidated due to high-leverage trading, seems to have finally landed on the right side of the market this time.
According to on-chain monitoring information, the “Machi Big Brother,” who has been liquidated nearly 500 times in the past, has recently spent only about 3 days to raise his account assets from approximately US$152,000 (152K) to US$12.72 million (12.72M). His paper gains exceed US$12.5 million.

3,000 million NT dollars in special state affairs funding fees were cut and frozen; orders for 37 sheltered workshops were affected
The Legislative Yuan recently passed the 2026 central government general budget in its third reading. Of this, the Presidential Office had originally allocated NT$30 million in special state affairs funding. As proposed by KMT legislator Ou Hsiao-ling, NT$10 million was reduced and NT$20 million was frozen. After the budget was constrained, the Presidential Office’s plan to purchase approximately 15,000 mooncake gift sets before the Mid-Autumn Festival from 37 sheltered workshops and disability-related groups across Taiwan was also affected.
The Secretary-General of the Presidential Office, Pan Meng-an, said on August 20 that the Presidential Office has, in previous years, used special state affairs funding to purchase mooncakes and related products from sheltered workshops and public-benefit organizations, with the aim of using actual orders to support employment for persons with disabilities.

Grayscale Fifth Amendment Application, Zcash ETF Takes Another Step Forward
Asset manager Grayscale continues to move forward with a Zcash spot ETF. According to the latest Version 5 amendment filing submitted to the U.S. Securities and Exchange Commission (SEC), Grayscale plans to convert its existing Grayscale Zcash Trust into a spot ETF and rename it "The Zcash ETF." It is expected to begin trading on NYSE Arca under the ticker symbol ZCSH. If ultimately approved, it would become the first spot ETF in the United States to directly track the price of Zcash.
Image source: SEC According to the latest Version 5 amendment filing submitted to the SEC, Grayscale will convert its existing Grayscale Zcash Trust into a spot ETF

Bitcoin is nearing $80,000, and its weekly gain has surpassed 20%.
Bitcoin ($BTC) has continued its strong rebound recently, briefly breaking through $78,000 at one point. During trading, it reached a high of about $78,002. It is only a step away from the $80,000 psychological level that the market is closely watching. Compared with recent lows, Bitcoin’s weekly gain reached 23.6%, marking the strongest rebound since 2026.
Source: CoinGecko. Bitcoin ($BTC) has continued its strong rebound in recent days, briefly breaking through $78,000.
This rally has been driven by multiple positive factors. The U.S. Treasury has expanded the size of long-dated Treasury bond buybacks, boosting market expectations for improved liquidity. Meanwhile, U.S. spot Bitcoin ETF funds have started flowing back in, and Washington’s regulatory stance toward cryptocurrencies has gradually shifted to be more friendly. Over the past five trading days, U.S. spot Bitcoin ETFs have attracted a total net inflow of about $1.917 billion, with BlackRock’s IBIT becoming the main source of capital inflows.

Focused on putting traditional financial assets such as funds and bonds on-chain, the MANTRA Chain suffered a vulnerability attack earlier today (21). Before the network went down, the native token $MANTRA briefly plunged 18.5% and hit a historical low. After that, the entire blockchain network was forced to shut down completely, stopping the production of blocks; even trading, deposits/withdrawals, and cross-chain functions were affected, triggering widespread panic in the market.
According to CoinGecko data, $MANTRA this morning dipped from $0.005060 all the way down to a low of $0.004126; it then rebounded to around $0.0044, but the 24-hour decline still reached 10%. Meanwhile, trading volume surged by nearly 600% to about $24 million.

An AirTag hidden inside an old book reveals the real-world cost behind AI training data. According to an investigation by independent media outlet 404 Media on August 18, a batch of rare books shipped to Amazon was, after arriving at the warehouse, stripped of their covers, scanned page by page, and the physical books were destroyed in the process. The scanned data was used to train Amazon’s Nova model.
An AirTag tracks from California all the way to a Las Vegas warehouse
In a batch of 1,000 books ordered through the secondhand book platform Biblio, 404 Media found an Apple AirTag hidden inside an obscure title. The tracking trail shows that the AirTag traveled from California, passing through Wisconsin and Colorado, before finally stopping at Amazon’s Las Vegas campus—a warehouse designated LAS8. Inside the warehouse is a unit coded VGT3, and there’s also a sign on the door painted with a “Dinosaurs Holding Books” logo. According to Amazon employees, their job all day is to cut off the book spines, feed the books page by page into a scanning machine, and the physical books are therefore destroyed.

At the beginning of August this year, Chuanhu (2059) jumped onto a server sliding rail worth over NT$10,000 per share, becoming the third “ten-thousand-share” stock on the Taiwan stock market, drawing market attention. In fact, the next candidate for a ten-thousand-share stock identified by foreign investors is Wanset (6223), a semiconductor test interface and equipment company. Although Wanset’s share price fell to the daily limit on August 17, closing at NT$5,800, analysts still remain optimistic about its future operating growth.
Aletheia Capital, an independent investment research firm in Hong Kong, raised its target price for Wanset from NT$4,000 to NT$10,000 in June this year. It also expects 2026 earnings per share (EPS) of at least 78.1 yuan, and projects that 2027 and 2028 will increase to 186.5 yuan and 286.5 yuan, respectively.

After the public chain project Pharos launched its consumer-loan vault this year, the prepaid deposits reached the $50 million cap within 48 hours. At the time of its official launch, there were already about $35 million in committed deposits.
More notably, Pharos is not an isolated case. Over the past few years, multiple on-chain projects have emerged that attempt to move credit assets such as consumer loans, inclusive credit, and housing loans onto the blockchain. What they target is not a newly created category of assets, but rather a long-existing traditional market that has, for a long time, not been sufficiently tokenized on-chain: global consumer credit.

An anonymous researcher on the social platform X who goes by the name Serenity. After joining in July 2025, focusing on deep technical reverse engineering of the AI (artificial intelligence) hardware supply chain, she quickly amassed one million followers within just a year—earning the title “White-Haired Stock God.” Her analytical logic avoids mainstream mega-cap technology stocks. Instead, she focuses on upstream small and mid-sized suppliers with the characteristics of technological monopolies and capacity bottlenecks. Although she experienced the collapse of the AI sector in July, her returns since the beginning of the year are still as high as 2,411.84%.
“White-Haired Stock God”—who is this person?
Serenity has always maintained a high level of anonymity; her real name and appearance have never been made public. Because of her anime-style white-haired profile picture, she is known in the Chinese internet community as the “White-Haired Stock God.” Based on her community trail and her own statements, her rise can be divided into several key stages:

As the Solana community is about to vote on SIMD-0550 “Double Disinflation Speed” and SIMD-0553 “Resource Fees,” Max Resnick—former head of research at Consensys and now a key Solana ecosystem developer—published a long-form essay attempting to answer a more fundamental question than the two proposals themselves: how should a Layer 1 blockchain be valued in the first place?
Resnick believes that the current way the crypto market values L1 chains is much like the stock market in the late 1920s: the market is full of growth stories, yet lacks a framework that can translate those stories into asset value.

（Twitter）How exactly does the For You algorithm decide whether a post should go viral? Which matters more: likes, comments, or reposts? Can time spent really increase traffic? Does “not interested” actually work? If you post too many times in a day, will it end up competing with your own traffic?
These long-standing problems that have plagued X creators for years now have answers that can be found directly in the official code.
On August 13, X significantly updated the official open-source “x-algorithm” repository, adding key configuration parameters for the For You recommendation system, including how various user behaviors are converted into post scores, as well as system components like Visibility Filtering that determine whether a post can enter the recommendation feed.

Binance hands over user data to Russia; donations to Ukraine become evidence for terror financing charges.
Binance, the world’s largest cryptocurrency exchange, is again embroiled in controversies over data privacy and geopolitics. Russian law-enforcement documents obtained by Reuters show that Binance previously provided Russian investigators with a customer’s identity and transaction information, which was later used to prosecute Russian IT expert Yuri Belenkiy for donating to organizations related to Ukraine via cryptocurrency.
Belenkiy is accused of donating more than $700 to organizations associated with the Ukrainian military, including the Azov Brigade, which Russia lists as a terrorist organization. Russian authorities have classified the donations as involving “funding terrorism,” a charge that carries a maximum prison sentence of up to 20 years.

According to reporting by the UK’s Financial Times citing people familiar with the matter, Wall Street giant JPMorgan Chase had fully terminated its banking relationship with the prediction market Polymarket as of October 2025, and issued a “go away” order, asking the company to find another safe harbor to park its funds.
Since then, Polymarket has transferred its funds accounts to another financial institution, but the true identity of the taking-over bank (Financial Times) has not yet been confirmed. (Reuters) also cited statements from anonymous sources, independently verifying the account closure incident.
However, Wall Street’s算盘算得很精。（report revealed that）although JPMorgan Chase has cut off Polymarket’s basic banking services, if this prediction market platform were to launch an initial public offering (IPO) in the future, JPMorgan Chase still hopes to win the role of underwriter. In response to the rumors above, JPMorgan Chase declined to comment.

Today, fake receipts generated by AI account for 71% of all flagged expense fraud cases. A year ago, this figure was 0, and at present, most of this kind of fraud is still carried out by humans.
Now, we have AI agents that can discover services and make payments through x402, all without any manual approval. The ensuing challenge is how to verify what these agents have actually purchased. OpenAI recently released a practical guide with solutions for receipt verification in the payment flow and for reconciling accounts with third parties.

After Buffett’s succession, making big moves and handily ending Berkshire’s streak of net selling for 14 consecutive quarters
After “the stock god,” Warren Buffett, stepped down as CEO, his successor, Greg Abel, has been gradually leaving his own capital allocation style behind. In the second quarter of 2026, Berkshire Hathaway reversed its conservative approach from the past several years, made a major push into the U.S. stock market, and clearly increased its exposure to homebuilders and airlines.
The latest filing shows that in the second quarter, Berkshire bought about $23.5 billion worth of stocks and sold about $3.7 billion during the same period, ending its record of net selling for 14 consecutive quarters. The company also spent about $4.5 billion to repurchase its own shares, while its cash position fell from roughly $380 billion to about $365 billion.

On August 18, a new project called “Flop” quickly drew attention from the crypto community on social media, with memecoin enthusiasts scrambling to apply.
Behind the scenes, the operator was none other than crypto veteran Arthur Hayes. That evening, Hayes suddenly posted on X announcing that he would “end his retirement” and take on the role of CEO of the new project Flop Labs. Having once led the crypto derivatives giant BitMEX, after stepping away from frontline operations, he became more active in the market as an investor and crypto commentator, continuously offering judgments on the macroeconomy and industry trends. Now back in the fray, Hayes did not return to the trading track he knows best; instead, he turned his attention to the AI Agent economy.

Has the bear run gone? Coinbase CEO: Bitcoin could rise above $400,000 by 2030
Coinbase CEO Brian Armstrong, a U.S.-listed crypto exchange executive, recently made an optimistic prediction in an interview on the (Fox Business) program, saying that by 2030 Bitcoin is «very likely» to reach the $300,000 to $400,000 range.
Armstrong pointed out that after roughly a year of a bear market in the Bitcoin spot trading market, the timing is now quite close to the historical bear market average correction cycle of 370 to 380 days. The market broadly expects the bear market is entering its final phase and that a new bull market is about to begin.

Stablecoins and the Agents business have been discussed the most over the past two years, but the ones who truly have to make trade-offs for them on the balance sheet are not the group that issues stablecoins, nor the group that builds agents—they’re the card networks. Others may treat both of these as business opportunities, but before card networks can commercialize them, they must first answer a harder question: if money no longer moves along my rails, what do I have left?
On the same day, Mastercard CEO Michael Miebach answered three questions: how money moves, who is buying, and how to make decisions.
On the stablecoin question, he said that daily spending has “no issues needing to be resolved.” On the Agents business question, he said the cards will win. On the AI question, he said the winners are the companies that hold proprietary data. The three answers sound unrelated, but they all involve the same move: settlement can be multi-track, and trust and security must be won.