1. China warns that U.S. sanctions on Iran disrupt the global economy, and may take retaliatory measures
China warns that U.S. sanctions on Iran are disrupting the global economy. - Original text
2. X platform announces plans to allow users to buy Bitcoin
X platform announces plans to allow users to buy Bitcoin. - Original text
3. Bitcoin falls below the $80,000 mark; gold declines to $4,605 per ounce
Bitcoin surged on Tuesday to as high as $81,265, then pulled back, once dipping to $78,111 and falling below the $80,000 mark. Gold moved in tandem lower; spot gold at one point slid nearly 2% to $4,605 per ounce, after having risen to $4,697. As U.S. Treasury yields retreated, the S&P 500 rose 0.2% and the Nasdaq gained 0.5%, while the yield on the U.S. 30-year Treasury note fell below 5.2%. The market estimates there is about a 61.9% probability that the Fed will keep interest rates unchanged in September. Attention has shifted to the U.S. July PCE inflation data and Nvidia’s earnings report. - Original text
4. Federal Reserve Collins: Inflation is still too high, expressing concern about the central bank’s responsibility for price stability
Federal Reserve Collins said inflation is still too high and expressed concern about the Fed’s duty to maintain price stability. -Original
5. BlackRock cuts the spot IBIT subscription threshold to $1 million; total conversions exceed $5 billion
According to Bloomberg, BlackRock will cut the minimum trading size for investors to place spot Bitcoin ETF share subscriptions from $25 million to $1 million. BlackRock’s head of digital assets, Robbie Mitchnick, said its spot Bitcoin ETF IBIT has already completed conversions totaling more than $5 billion of this type. The mechanism allows investors to transfer Bitcoin into funds holding the same asset and to receive ETF shares via authorized participants or market makers. Bitwise’s minimum threshold for handling such trades has been lowered from $100 million to $3 million. Bloomberg said that as US regulators allowed spot subscriptions last summer, market infrastructure for the migration of crypto assets to ETFs has continued to expand. -Original
6. Canada imposes tariffs on $20 billion worth of US goods, raising steel tariffs to 50%
Canada imposes tariffs of 15% to 50% on about $20 billion worth of US goods and raises tariffs on US steel products from 25% to 50%. Starting September 8, Canada will levy counter-tariffs of 15%, 25%, or 50% on roughly 700 products. -Original
7. Tesla and SpaceX hold net unrealized gains on Bitcoin totaling $1.35 billion
Tesla holds $530 million in net unrealized gains on Bitcoin, and SpaceX holds $820 million in net unrealized gains on Bitcoin. -Original
8. The US and Iran reached a consensus on a ceasefire; shipping volume in the Strait of Hormuz falls to a multi-month low
According to Jin10 data, the Syrian Democratic Forces announced their dissolution. The US and Iran reached consensus on ceasefire agreement terms, including freedom of navigation through the Strait of Hormuz. On Monday, only one bulk cargo ship transited the Strait of Hormuz, setting the lowest record since May 7. US President Trump said all mines in international waters have been removed or detonated, and warned that mine-laying vessels would be destroyed. Iran and Oman issued a joint statement to establish temporary sea lanes and implement a joint mine-clearance program, but Iran emphasized that the strait will not be opened immediately. Pakistan’s interior minister said progress has been made in talks with Iran, while the US State Department is preparing for diplomats to return to Middle East embassies. The US has proposed lifting sanctions on Iran in exchange for reopening the strait. US Treasury Secretary Bessent reiterated that pressure will continue. Iran’s deputy foreign minister warned that if the US continues its actions, Iran will demonstrate new capabilities. -Original
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