Weekly Crypto Market Events Recap｜2026.8.17–8.23
1️⃣ Last week, BTC surged for five trading days, jumping by about 22%. The price rose from $63,000 to as high as $79,000, marking the strongest performance since March 2024. The bullish momentum triggered extreme short-squeeze conditions across the market, with total short liquidations exceeding $4 billion.
2️⃣ The U.S. crypto regulatory landscape saw major progress. Trump has continued to push forward the CLARITY Act, and the SEC has formally released a brand-new regulatory framework for crypto assets, clarifying the Token safe-harbor rules.
3️⃣ Tether completed a full independent audit by KPMG and received an unqualified (no reservations) audit opinion.
4️⃣ First Digital’s CEO responded to Justin Sun’s remarks regarding FDUSD, saying the related content is seriously inaccurate and stating that Sun has not provided evidence for the allegations to date. The two sides were previously in court in Hong Kong over a defamation dispute, and the case is still under review.
5️⃣ Crypto-related stocks in U.S. equities rallied broadly. BTC’s strong rise lifted names like MSTR and COIN in tandem. Strategy (MSTR) saw a weekly gain of about 27%, further increasing market attention on the linkage between BTC and crypto assets listed in the U.S. stock market.
1️⃣ Last week, BTC surged for five trading days, jumping by about 22%. The price rose from $63,000 to as high as $79,000, marking the strongest performance since March 2024. The bullish momentum triggered extreme short-squeeze conditions across the market, with total short liquidations exceeding $4 billion.
2️⃣ The U.S. crypto regulatory landscape saw major progress. Trump has continued to push forward the CLARITY Act, and the SEC has formally released a brand-new regulatory framework for crypto assets, clarifying the Token safe-harbor rules.
3️⃣ Tether completed a full independent audit by KPMG and received an unqualified (no reservations) audit opinion.
4️⃣ First Digital’s CEO responded to Justin Sun’s remarks regarding FDUSD, saying the related content is seriously inaccurate and stating that Sun has not provided evidence for the allegations to date. The two sides were previously in court in Hong Kong over a defamation dispute, and the case is still under review.
5️⃣ Crypto-related stocks in U.S. equities rallied broadly. BTC’s strong rise lifted names like MSTR and COIN in tandem. Strategy (MSTR) saw a weekly gain of about 27%, further increasing market attention on the linkage between BTC and crypto assets listed in the U.S. stock market.