Justin Drake, an investigator at the Ethereum Foundation, announces that the organization will stop using Poseidon in favor of SHA or BLAKE hash algorithms.
He calls this step a milestone for post-quantum security in Ethereum. $ETH
It is possible that Japan and the United States could intervene again in the yen if the currency falls back to the levels prior to the intervention, located at 163.
Furusawa, a former senior Japanese official responsible for currency policy, says that another coordinated action could occur at any time, given that the yen is trading at 159.4 versus the 163.73 level that triggered the July intervention.
He also expects the Bank of Japan to raise interest rates in September and again for January, moving toward 1.5%.
The U.S. Treasury Secretary, Scott Bessent, says that the United States will implement unprecedented «economic isolation» measures against Iran next week.
The president of the CFTC, Michael Selig, published the agenda for the inaugural meeting of the Advisory Committee on Innovation, to be held on August 20 and will address cryptoassets, AI, and prediction markets.
President Trump has just directly addressed the threats against him. “Any transcendent president receives many threats,” he said. “Presidents who are not transcendent aren’t threatened.” Trump added that he may be the most transcendent president in history. The threats only serve to confirm the impact he is having.
The United States racked up $432 billion in debt in a single month—at a rate of $14 billion per day—thus recording the largest deficit for a July month on record.
According to data from the Treasury Department, the July deficit was the largest recorded for any month since spending on COVID relief in March 2021.
Where the funds went:
- Medicare accounted for the biggest spending, with $174 billion (up from $103 billion in June).
- Social Security involved spending of $141 billion.
- Interest on the national debt absorbed $104 billion in a single month.
- Refunds of tariffs cost $33 billion after the Supreme Court overturned the levies imposed by Trump, leading to negative figures in customs revenue.
The biggest problem:
The cumulative deficit over ten months stands at $1.8 trillion, already surpassing the total figure for the previous fiscal year even though two months remain before it ends.
The Congressional Budget Office (CBO) now expects the annual deficit to reach $2.1 trillion; just the Supreme Court ruling on tariffs removed $250 billion from the projected revenues.
Interest payments have become the third-largest spending item in the United States—behind only Social Security and Medicare—while total debt is nearing $39.9 trillion.
The SEC is set to allow Wall Street’s most important stocks to trade 24 hours a day, 7 days a week, on the blockchain, possibly starting this Friday.
According to Bloomberg, the “innovation exemption” would allow tokenized versions of stocks like Apple and Nvidia to be traded continuously on blockchain platforms without the need for a full registration.
The plan is backed by SEC Chair Paul Atkins, and details are expected to be released at this Friday’s public meeting.
The Bank of England has begun the second phase of its digital pound project, assessing how *stablecoins* and central bank money could operate together in financing cross-border trade.
ZachXBT refuses to track the hacking of 4 billion ONE tokens from Harmony and urges others to NOT collaborate for free.
The on-chain investigator claims that Harmony «took advantage» of the people who helped freeze the funds after the $100 million hack carried out by North Korea in 2022, rewarding them with zero dollars and a simple «good job».
These criticisms come after Harmony asked exchange platforms to freeze four wallets linked to that hack.
Fidelity, with $7 billion in assets under management (AUM), plans to incorporate *staking* into its FETH fund—valued at $898 million—retaining 85% of the rewards generated and distributing cash quarterly.
The BRICS nations are debating the interconnection of their fast payment systems and their central bank digital currencies (CBDCs) for cross-border trade.
Six of the 11 members of the bloc already have CBDCs in a pilot or implementation phase, including China, India, Russia, Brazil, the United Arab Emirates, and Iran.
The plan could speed up and lower the cost of trade in local currencies, while reducing dependence on the US dollar.
The dollar/yen exchange rate surges to 159.43—its highest level since August—regaining ground after having crashed by more than 5% following the joint intervention by the United States and Japan.
Harmony suffers a massive attack of 4,000 million tokens $ONE ; the coin price plummets by 30%.
The unauthorized issuance was equivalent to about 26% of the total supply; according to Juiceberg, the attacker has already transferred 2,800 million ONE to exchange platforms.
Only 115 million of $ONE remain on the blockchain, while the vast majority has already been sold or is in the wallets of those platforms, ready for a possible additional sale.
Harmony has confirmed the attack and says it is working with exchange platforms to freeze the funds, while also preparing a patch and a possible chain reversal.