PA Daily｜Trump Media Group will establish a new company to deploy CRO treasury strategy; Google Cloud launches L1 Blockchain GCUL

Today’s News Reminder:

Trump Media and Technology Group will establish a new company to deploy the CRO treasury strategy, expecting total funding of $6.42 billion

Google Cloud launches L1 blockchain GCUL, currently in private testnet phase

Donald Trump’s venture capital fund has invested in the prediction market Polymarket

Vitalik: The probabilities given by prediction markets are usually more accurate than judgments formed under the influence of the media.

Bitcoin programmable layer project Hemi completes $15 million financing, led by YZi Labs and others

CoinList launches private placement portal CoinList Alpha

There are 4 main addresses involved in the XPL hedging attack, with a total profit of 46.1 million dollars

Tom Lee: ETH will rise to $5500 in the coming weeks, reaching $10,000 to $12,000 by the end of the year

Regulation & Policy

CFTC Commissioner Kristin Johnson announced her impending departure, leaving only one commissioner remaining at the CFTC.

According to The Block, Kristin Johnson, a commissioner of the U.S. Commodity Futures Trading Commission, announced she will officially resign next week, leaving only one leader in the commission. Johnson has set September 3 as her last day in office, having previously indicated her intention to leave. This is the latest case in a high-profile wave of resignations from the derivatives regulatory agency. Johnson is one of four commissioners who have indicated they will resign or have already resigned since the beginning of this year. Since taking office, President Trump has been committed to bringing pro-cryptocurrency Republican leaders into his administration.

U.S. Secretary of Commerce: Plans to release GDP economic data on the blockchain

According to Decrypt, U.S. Secretary of Commerce Howard Lutnick announced on Tuesday that the department will begin “publishing economic data on the blockchain.” The department plans to “publish GDP data on the blockchain so that people can use the blockchain for data distribution.” Howard Lutnick stated that the plan will soon be open to “the entire government.”

Chen Haolian: Will explore tokenization methods for ETFs already listed on the Hong Kong Stock Exchange to further attract investor participation.

According to a report by Zhitong Finance, at the establishment ceremony of the Hong Kong Digital Asset Listed Companies Association, Chan Ho Lam, Deputy Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region, stated that regarding the types of tokenized products, three years ago, the Hong Kong SAR government actively issued green bonds every year, and in the future, plans to regularize the issuance of such bonds, while also exploring the application of tokenization in various fields such as renewable energy. In addition, the Hong Kong SAR government will take measures to explore tokenization methods for ETFs that have already been listed on the Hong Kong Stock Exchange, further attracting investors to participate.

Project Updates

Trump Media & Technology Group will establish a new company to implement the CRO treasury strategy, expecting total funding of $6.42 billion.

According to Globenewswire, Yorkville Acquisition Corp.(Nasdaq: YORK), Trump Media & Technology Group(Nasdaq, NYSE Texas: DJT), and Crypto.com announced that they have reached a final agreement for a business merger aimed at establishing Trump Media Group CRO Strategy, Inc., a digital asset reserve company focused on acquiring the native token CRO of the Cronos ecosystem. Yorkville Acquisition Corp. is a special purpose acquisition company (SPAC) established by Yorkville Acquisition Sponsor LLC (“Yorkville”). Upon completion of the business merger, Trump Media Group CRO Strategy will be jointly held with a majority stake by Yorkville, Trump Media, and Crypto.com as founding partners. The expected funding sources for the digital asset reserve company include: $1 billion worth of CRO (6,313,000,212 CRO, approximately accounting for 19% of the total market value of CRO at the time of the announcement), $200 million in cash, $220 million in cash from mandatory exercise warrants, and a $5 billion equity credit line provided by Yorkville affiliate YA II PN, Ltd., totaling $6.42 billion. This will make it the first and largest publicly listed CRO reserve company. To reflect a long-term commitment to Trump Media Group CRO Strategy, Yorkville, Trump Media, and Crypto.com agree to implement a mandatory initial lock-up period of one year on their founding equity after the business merger is completed, followed by a gradual release plan over three years.

Later news, Trump Media will launch a rewards system on the TRUTH SOCIAL and TRUTH+ platforms, using CRO as the utility token; Trump Media has signed a $155 million strategic agreement with Crypto.com. ZachXBT: Crypto.com once covered up a major incident, but individuals are not yet able to disclose the details.

Canary has submitted the S-1 application documents related to the Canary TRUMP Coin ETF to the SEC.

According to market news, Canary has submitted the S-1 application documents related to the Canary TRUMP Coin ETF to the US SEC.

Rex Shares applies to launch an ETF supporting BNB staking.

Bloomberg ETF analyst Eric Balchunas tweeted that the American asset management company Rex Shares has applied to launch an ETF that supports BNB staking.

Google Cloud has launched the L1 blockchain GCUL, which is currently in the private testnet phase.

Google Cloud has launched the L1 blockchain GCUL. GCUL will utilize Python-based smart contracts. It aims to become a neutral infrastructure for finance, providing “native commercial bank on-chain currency,” round-the-clock capital market infrastructure, payment, and agency functions. They plan to open it up to the entire Google network, which has “billions of users” and “hundreds of institutional partners.” It is currently in the private testnet phase and announced earlier this year a collaboration with the Chicago Mercantile Exchange (CME) for a tokenized asset pilot. More technical details are expected to be provided in the coming months.

Binance Futures will launch the BASUSDT U-based perpetual contract.

According to the official announcement, the Binance Futures platform will launch the BASUSDT perpetual contract on August 26, 2025, at 21:30 (UTC+8), with a maximum leverage of up to 50 times.

Binance Alpha and Binance Contracts will launch Mitosis (MITO)

According to the official announcement, Binance Alpha will launch and open trading for Mitosis (MITO) on August 28, 2025, at 22:00 (UTC+8). In addition, the Binance futures platform will launch the MITOUSDT perpetual contract on August 28, 2025, at 22:30 (UTC+8), with a maximum leverage of up to 50 times. All eligible Binance users can participate in the Booster event to receive token airdrops using Binance Alpha points.

Coinbase International will launch GMT, Omni Network, and Synthetix perpetual contracts.

According to official news, Coinbase International has announced the addition of support for GMT, Omni Network, and Synthetix perpetual contracts on Coinbase International Exchange and Coinbase Advanced. The GMT-PERP, OMNI-PERP, and SNX-PERP markets will open at 17:30 Beijing time on August 28 or later.

dYdX releases new roadmap: covering Telegram trading features, performance optimization, and token utility expansion.

According to official news, dYdX has released a new roadmap, and its core development company dYdX Trading will be renamed dYdX Labs. In the next 90 days, dYdX plans to carry out software upgrades to help the community achieve significant breakthroughs in performance, user experience, and token utility, as follows: 1. Partner fee sharing: Partners who bring trading volume and liquidity to dYdX can earn up to 50% of the protocol fees; 2. Launch of segmented orders and TWAP orders; 3. Designated proposers to significantly reduce end-to-end trading delays; 4. Improvement of order gateways; 5. Telegram trading feature, allowing seamless trading of dYdX accounts on both the web and Telegram, launching in September 2025; 5. Social login feature, supporting immediate login and deposits using Google, Apple, or Passkey; 6. Front-end integration of Osmosis supporting one-click conversion and staking of USDC and DYDX; 7. DYDX staking to waive transaction fees.

Binance Alpha will launch CeluvPlay (CELB) on August 29.

According to the official announcement, Binance Alpha will launch CeluvPlay (CELB) on August 29. Eligible users can go to the Alpha event page to claim the airdrop using Binance Alpha points after the Alpha trading opens. Further details will be announced separately.

Binance Alpha will launch Dexlab (XLAB)

According to the official announcement, Binance Alpha will launch Dexlab (XLAB) on August 29. Eligible users can go to the Alpha event page to claim airdrops using Binance Alpha points after the Alpha trading opens. Further details will be announced separately.

CSLM Digital Asset plans to raise $200 million through a stock issuance and seeks to merge with a blockchain company for a public listing.

According to Globenewswire, special purpose acquisition company CSLM Digital Asset Acquisition announced that it will issue Class A common stock and warrants and raise $200 million through an initial public offering, with the related stocks expected to trade on the NASDAQ under the codes “KOYN” and “KOYNW.” The company stated that it will seek to strategically leverage the merger of companies utilizing blockchain and distributed ledger technology, including the infrastructure for building wallets, custody solutions, exchanges, data protocols, and tokenized financial instruments, as well as companies developing applications for payments, decentralized finance, and cross-border finance.

CoinList launches private placement portal CoinList Alpha

CoinList announced the launch of its private placement portal CoinList Alpha, designed to allow qualified investors to participate in selected private placements from seed rounds to private placements of financial companies. As the first transaction, CoinList offers qualified clients the opportunity to participate in the PIPE private financing of Solana financial company Sharps Technology (STSS).

Bitlayer has opened BTR airdrop query, and the airdrop collection will be available at 18:00.

Bitlayer tweeted that the BTR airdrop query has been opened at 14:00, and the airdrop claim will be available at 18:00.

Binance HODLer airdrop second round launched MyShell ( SHELL )

According to the official announcement, Binance HODLer airdrop Round 2 is launched for MyShell ( $SHELL ). The Binance SHELL Round 2 HODLer airdrop will distribute a total of 25 million SHELL (accounting for 2.5% of the maximum token supply) ). From July 24, 8:00 to July 28, 7:59 (UTC+8), users who use BNB to purchase principal-protected earning coins ( for fixed and/or flexible ) or on-chain earning products will receive airdrop allocations. The airdrop will be completed within 24 hours after the announcement is released.

REX Shares and Osprey Funds submitted a spot BNB ETF application to the SEC with staking features.

According to The Block, on Tuesday, REX Shares and Osprey Funds jointly submitted an N-1A registration statement to the U.S. Securities and Exchange Commission (SEC) with the aim of managing the first potential spot BNB ETF in the United States that may include staking features. The proposed fund aims to provide direct exposure to the price of the native cryptocurrency BNB on the BNB Chain.

Over 100 cryptocurrency entities jointly urge U.S. stock legislators to protect software developers when regulating the cryptocurrency industry.

According to The Block, over 100 cryptocurrency entities are calling on lawmakers to protect software developers while deliberating on how to regulate the digital asset industry. Cryptocurrency stakeholders stated on Wednesday that both the House and Senate versions of the market structure legislation need additional provisions to protect self-custody rights and the ability to participate in peer-to-peer transactions, urging that these changes be included. They stated, “These protections must clearly stipulate that no individual or entity should be regulated solely for participating in the core activities of creating, developing, releasing, and maintaining blockchain networks, nor should they be regulated solely for allowing users to access such networks and retain their own funds through software interfaces.”

Investment and Financing

The Bitcoin programmable layer project Hemi has completed a $15 million financing, led by YZi Labs and others.

According to The Block, the Bitcoin programmable layer project Hemi has completed a new round of financing of $15 million, led by YZi Labs, Republic Digital, and HyperChain Capital, with participation from Breyer Capital, Big Brain Holdings, Crypto.com, DNA Fund, Selini Capital, Protein Capital, Quantstamp, and Web3.com Ventures. The project’s total financing amount has reached $30 million, which will be used to promote the development of a network that integrates the security of Bitcoin with the functionality of Ethereum smart contracts. This round of financing will support its ecological expansion and subsequent token generation activities.

The core of the Hemi stack is the Hemi Virtual Machine (hVM), which is designed to embed a complete BTC node into the EVM, enabling operations such as lending and asset aggregation on the Bitcoin network through cross-chain “tunnels” and proof consensus mechanisms.

YZi Labs announced an investment in the yield-generating synthetic dollar protocol USD.AI

According to official news, YZi Labs announced its investment in USD.AI, a protocol that provides hardware support financing for AI infrastructure, aiming to expand AI infrastructure through a new type of yield-bearing stablecoin. The locked value of USD.AI is $62 million. USD.AI is a yield-bearing synthetic dollar protocol that brings infrastructure financing (InfraFi) on-chain. It is supported by over-collateralized computational loans. USD.AI enables infrastructure and AI operators to access non-dilutive credit while providing depositors with sustainable asset-backed yields. The project is developed by Permian Labs, and USD.AI is backed by investors such as Framework, Dragonfly, DCG, Delphi, and Fintech Collective.

Donald Trump’s venture capital fund has invested in the prediction market Polymarket.

According to AXIOS, the prediction market Polymarket has received investment from a venture capital fund owned by Donald Trump Jr. The 1789 Capital venture capital company, which Donald Trump Jr. joined last year, invested tens of millions of dollars into Polymarket. Recently, Polymarket was valued at over $1 billion by Founders Fund. Donald Trump Jr. will also join the advisory board of Polymarket.

Hedge fund Numerai secures $500 million investment commitment from JPMorgan.

According to The Block, Numerai LLC, a hedge fund based in San Francisco, has announced that it has received an investment commitment of up to $500 million from the asset management division of JPMorgan Chase, which will be put into use next year. Over the past three years, the capital it manages has grown from $60 million to $450 million. Numerai stated that its global equity hedge fund achieved a net return of 25% last year. The company continues to express plans to hire more employees. The company’s native token, Numeraire (NMR), once surged by 33%.

Institutional Accumulation

Public company SharpLink increased its holdings by 56,533 ETH, bringing its total ETH holdings to approximately $3.7 billion.

SharpLink (NASDAQ: SBET) announced on the X platform that the company purchased 56,533 ETH at an average price of approximately $4,462. As of August 26, 2025, the company holds 797,704 ETH, valued at approximately $3.7 billion. Key highlights for the week ending August 24, 2025: 1. Raised a net revenue of $360.9 million through ATM facilities last week. 2. Total staking rewards have increased to 1,799 ETH since the launch of the financial strategy on June 2, 2025. 3. Approximately $200 million in cash remains unused for ETH acquisitions. 4. Cash-converted ETH concentration exceeds 4.00, having increased by over 100% since June 2, 2025.

Publicly traded company Kindly MD is seeking $5 billion in funding to advance its Bitcoin reserve strategy.

Public company KindlyMD has submitted an S-3 registration statement to the U.S. Securities and Exchange Commission, planning to launch a stock issuance program with a market value of up to $5 billion. Kindly plans to use the raised funds for: implementing a Bitcoin financial strategy, supplementing working capital, acquiring businesses, assets, or technologies, capital expenditures, and/or investing in existing and future projects.

H100 Group bought 46.22 BTC, currently holding a total of 957.5 BTC.

According to monitoring by NLNico, H100 Group bought 46.22 BTC, with a current total holding of 957.5 BTC.

The Japanese listed company Metaplanet plans to raise approximately $881 million to increase its Bitcoin holdings.

According to an official announcement, the Japanese listed company Metaplanet plans to raise funds through an international stock issuance, with an expected net fundraising amount of approximately 130.334 billion yen (about 881 million USD). Of this fundraising amount, approximately 123.818 billion yen (837 million USD) will be used to purchase Bitcoin, and 6.516 billion yen (44 million USD) will be used for Bitcoin financial operations.

Analysis & Perspectives

Vitalik: The probabilities given by prediction markets are usually more accurate than judgments formed under media influence.

Regarding the recent discussions about prediction markets, Ethereum founder Vitalik Buterin stated: “In token voting, if you cast the wrong vote, there is no penalty unless you personally are the one causing the vote to fail, which is a very small possibility. In prediction markets, if you cast the wrong vote, you will lose money; if you cast the wrong vote while betting heavily, you will incur significant losses. Personally, I believe that the probabilities provided by prediction markets are often more accurate than the probabilities I am led to believe due to (professional or social media) atmospheres. They actually help me stay calm, knowing not to overestimate things (but also knowing when truly important things will happen).” Previously, Vitalik expressed that if prediction markets offer interest, it will drive an increase in trading volume and give rise to a large number of hedging use cases.

Tom Lee: ETH will rise to $5,500 in the coming weeks, reaching $10,000 to $12,000 by the end of the year.

Tom Lee, the Chairman of BitMine’s Board, stated during an amit live interview that Ethereum will rise to $5,500 in the coming weeks and reach between $10,000 to $12,000 by the end of the year. Previously, Tom Lee mentioned in an exclusive interview that Ethereum is becoming the preferred blockchain platform for Wall Street institutions and its native token ETH is currently severely undervalued. He predicts that ETH will break through $4,000 in the short term and is expected to reach a range of $10,000 to $15,000 by the end of the year.

Matrixport: ETH is expected to fluctuate between $4,355 and $4,958, with technical analysis potentially being a key factor influencing profits and losses.

According to the latest report from Matrixport, the market focus remains on Ethereum and related treasury-type companies. Ethereum continues to rise and stabilizes near key moving averages, reflecting the buying strength in the market from early to mid-August. However, momentum has slowed down, and it is expected to fluctuate within the range of $4,355 to $4,958, with the possibility of testing the $4,355 moving average again. The subsequent trend depends on whether treasury-type companies can continue to attract funds and shape narratives in the market. Overall, the main line of the crypto market has not changed, and the grasp of technical aspects may become an important factor affecting profits and losses.

Trend Research: ETH’s market value will surpass BTC in 1-2 bull and bear cycles.

Trend Research, a secondary investment institution under LD Capital, stated in its latest report: “Since ETH entered the current bullish cycle, every short-term fluctuation adjustment has seen the market begin to spread data regarding ETH un-staking. However, from a supply and demand perspective, the demand generated by institutional consensus currently far exceeds the supply of un-staked assets, and we believe that a long-term fully loaded un-staking situation is not sustainable. Since companies like SharpLink started to buy in, U.S. companies holding ETH have accumulated nearly $20 billion in ETH, accounting for 3.39% of the total supply, with Bitmine still having 75% progress towards its goal of holding 5% of the total ETH supply. In the future, as crypto-friendly policies are further implemented and Wall Street reaches a consensus on the long-term value of ETH, the “rush to buy” ETH has only just begun. With the interest rate cut cycle approaching, we are raising our long-term price target for ETH and believe that its market capitalization will surpass BTC in 1-2 bull-bear cycles.”

Important Data

The Ethereum spot ETF saw a net inflow of $455 million yesterday, continuing a net inflow for four consecutive days.

The Bitcoin spot ETF saw a net inflow of $88.2049 million yesterday, with BlackRock’s IBIT leading at a net inflow of $45.34 million.

Hyperliquid (HYPE) briefly reached $50, setting a new all-time high.

WLFI on Hyperliquid reached $0.39, currently with a price difference of $0.05 compared to WLFI on CEX platforms.

BitMine has received 131,700 ETH from three major institutions in the past 12 hours and currently holds a total of 1,845,000 ETH.

A certain Bitcoin OG closed an ETH long position with a profit of 2.6 million USD, and then bought 443 million USD worth of ETH.

A certain address made several million XPL on Hyperliquid, clearing the order book and leading to the liquidation of all accounts, resulting in a profit of 16 million dollars in 1 minute.

Analysis: A total of 4 main addresses participated in the XPL hedging attack, accumulating a profit of 46.1 million dollars.

A trader who has held Bitcoin for 12 years deposited 750 BTC into Binance.