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Breaking: Ethereum (ETH) Suddenly Hits New ATH for the First Time Since 2021

by admin August 23, 2025

Nearly $300 million worth of shorts get wiped out
$5,000 in sight?

Flagship altcoin Ethereum (ETH) has reached a new record high for the first time in nearly four years.

The token hit a new record peak of $4,885 at 21:08 UTC on the Bitstamp exchange, surging by more than 15% in a single day.

ETH/USD via TradingView

In the meantime, Bitcoin’s dominance has now plunged to just 56.5%, according to CoinGecko data.

As reported by U.Today, ETH’s monster surge came after Federal Reserve Chairman Jerome Powell explicitly signalled that there would be a rate cut next month.

Nearly $300 million worth of shorts get wiped out

CoinGlass data shows that a whopping $287 million worth of shorts have been liquidated over the past 24 hours. For comparison, only $67 million worth of Bitcoin shorts got wiped out over the same period of time.

A $10 million ETH liquidation order took place on the OKX exchange earlier today.

$5,000 in sight?

According to Polymarket bettors, ETH now has a 74% chance of hitting the much-coveted $5,000 level this August.

In fact, there is a 29% chance of the flagship altcoin surging all the way to the $5,400 level during the last week of this August.

The odds of ETH hitting $10,000 in 2025 currently stand at 16% on Polymarket.

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August 23, 2025 0 comments

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VanEck Files to Launch Staked Solana (SOL) ETF Backed by Liquid Staking Token JitoSOL

by admin August 22, 2025

Asset manager VanEck has filed to launch a staked solana SOL$199.71 exchange-traded fund (ETF), signaling continued interest in bringing blockchain-native yield-bearing assets to traditional investment rails.

The application, submitted Friday as an S-1 registration with the U.S. Securities and Exchange Commission (SEC), is the first of two filings required to list the fund. If approved, the ETF would hold JitoSOL, a liquid staking token native to the Solana blockchain. JitoSOL reflects ownership of SOL tokens that have been staked and also accrues the staking rewards earned by those tokens.

Unlike traditional ETFs, this product would not just track the price of SOL but also the income generated by staking — effectively baking Solana’s yield into a publicly traded product.

The SEC has been in ongoing discussions with ETF providers, including VanEck, about whether staking components can be integrated into existing and proposed crypto investment funds.

Regulatory bottlenecks

Speaking at an industry panel in Jackson Hole earlier this week, SEC Chair Paul Atkins said the Commission is looking to clear regulatory bottlenecks that slow innovation.

“There’s a lot of spring cleaning that needs to be done at the SEC,” he said. “We cannot have things so abstruse that lawyers can’t give opinions to clients.”

Atkins said the agency’s future rules should be flexible and designed to evolve. He added that the SEC wants to continue its legacy of adapting to new technologies, hinting at a more open stance toward crypto asset products like liquid staking ETFs.

VanEck joins a number of asset managers looking to launch a staked solana fund, including Fidelity, Grayscale and Franklin Templeton.

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August 22, 2025 0 comments

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Philippines Congressman Pushes Strategic Bitcoin Reserve Bill With 10,000 BTC Goal

by admin August 22, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Filipino lawmaker Representative Migz Villafuerte has introduced House Bill 421, which seeks to establish a strategic Bitcoin (BTC) reserve for the Philippines. The bill tasks the Bangko Sentral ng Pilipinas (BSP) with acquiring 10,000 BTC over the next five years.

Philippines Politician Floats Strategic Bitcoin Reserve Bill

Under the proposal, the BSP would be responsible for building a national Bitcoin reserve aimed at strengthening financial security by diversifying the country’s monetary assets. Bitcoin’s performance over the past year has reinforced its reputation as a store of value, with the digital asset hitting an all-time high of more than $124,000 before retreating slightly.

House Bill 421 recommends that the BSP purchase 2,000 BTC annually, targeting a total of 10,000 BTC within five years. These holdings would be locked in for a minimum of 20 years to provide long-term debt stability. Villafuerte explained:

It is vital for the Philippines to stockpile strategic assets such as BTC to serve important national interest such as providing financial stability, among others.

During the 20-year holding period, none of the BTC in the reserve may be sold, swapped, or auctioned except to reduce government debt. One year before the term expires, the BSP governor must provide recommendations on whether to keep the reserve or allow gradual sales.

After the minimum holding period, the reserve may be reduced. However, sales will remain capped at no more than 10% of total holdings every two years.

The bill calls for oversight by the Monetary Board (MB) to ensure transparency. It also requires the BSP to include updates on the Bitcoin reserve in its quarterly reports.

Strategic BTC Reserve Trend Picks Momentum

In his speech, Villafuerte cited examples of other countries exploring options of establishing a strategic Bitcoin reserve. For instance, the US government is actively working on developing its BTC reserve, following Donald Trump’s victory in the November 2024 presidential election.

Following in the US’ footsteps, multiple countries have expressed willingness to create their own sovereign BTC reserves. Earlier this year, several Chilean lawmakers proposed the creation of a strategic Bitcoin reserve for the South American country.

Source: World Population Review

In the same vein, Pakistan’s Minister for Crypto and Blockchain announced in June the creation of the country’s first strategic BTC reserve. Another South Asian country, Bhutan, has already stockpiled huge quantities of Bitcoin.

Similarly, Brazil’s chief-of-staff to the Vice President said earlier this year that the country can no longer afford to ignore the rising global adoption of the Bitcoin protocol as a reliable monetary network. At press time, BTC trades at $112,420, down 0.7% in the past 24 hours.

Bitcoin trades at $112,420 on the daily chart | Source: BTCUSDT on TradingView.com

Featured image from Unsplash.com, charts from World Population Review and TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

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August 22, 2025 0 comments

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Public Keys: Ethereum Treasuries Soar, Bitcoin ETFs’ $1 Billion Bleed, Crypto IPO Chatter

by admin August 22, 2025

In brief

Crypto stocks surged on Fed Chair Powell’s dovish Jackson Hole speech hinting at September rate cuts, with Ethereum treasury companies and Bitcoin miners leading gains of 8-15%.
Bitcoin ETFs bled $1 billion over five consecutive days while Ethereum ETFs rebounded with $288 million in net inflows on Thursday.
Blockchain lender Figure Technologies filed for an IPO, seeking to go public after processing over $16 billion in home loans on its Provenance blockchain.

Public Keys is a weekly roundup from Decrypt that tracks the key publicly traded crypto companies.

Wings of a Dove

Crypto stocks (and the rest of the crypto and stock market) are soaring thanks to a big boost from Federal Reserve Chair Jerome Powell’s dovish speech at the Jackson Hole Symposium on Friday morning.

Crypto and stocks tend to get a boost when the Fed lowers rates because it triggers a rotation of funds from treasury bonds and into risk-on assets.

During his remarks, Powell said the “shifting balance of risks may warrant adjusting our policy stance.” In other words, he opened the possibility for a rate cut when the Federal Open Markets Committee meets again in September.

Crypto exchange Coinbase’s shares gained about 6% and Bitcoin hoarding behemoth Strategy rose 5% on the day—a nice reversal from earlier in the week.

But it’s Bitcoin miners and Ethereum treasury companies that won the day. The two largest Ethereum treasuries—former Bitcoin miner BitMine Immersion and online gambling marketer SharpLink— gained 12% and 15.6%, respectively.

Bitcoin mining rig manufacturer Canaan’s stock gained 12%, and Bitcoin miners Riot Platforms and Iris Energy picked up 7.7% and 9.3%, respectively.

Katalin Tishhauser, head of research at Sygnum Bank, noted that while crypto markets had a “swift and positive” reaction to the news, she flagged that the underpinning economic data still shows signs of trouble.

“Even if a September cut does not materialize, the market has proven resilient in digesting past disappointments while still setting new highs. Momentum may continue, albeit with higher volatility,” she told Decrypt. “Meanwhile, spiralling debt and rising inflation remain unresolved structural issues—factors that strengthen the case for safe-haven assets over the longer term.”

$1 Billion Bleed

Bitcoin ETFs just spent five days in the red and shed $1 billion—even as their Ethereum counterparts staged a turnaround. On Thursday, Ethereum funds stopped the bleed and pulled in $288 million worth of net deposits.

The dominance of Ethereum in the current market narrative is very much warranted, according to the latest note from M31 Capital.

The private equity and venture capital fund pointed out that infrastructure, DeFi, L1 and L2 networks, and Web3 companies were all in the green—and all came out ahead of Bitcoin.

But nothing short of another all-time high for BTC was going to top last week’s record-setting run to $124,128.

Figure on the runway

Just as Bullish makes its $1.15 billion debut, there’s a new crypto company ready to test its wings.

Blockchain lender Figure Technologies has filed paperwork for an initial public offering.

Now, it’s important to make a distinction about what Figure does given the history of crypto lenders in the space: Figure uses its platform to enable lending outside the traditional scope of the crypto industry, such as real estate.

The company says that its the largest non-bank provider of home equity lines of credit in the U.S. and that its software has been used for more than $16 billion worth of home loans.

Illia Otychenko, the lead analyst at CEX.IO, told Decrypt earlier this week that the company “dominates the tokenized private credit space, with more than 70% market share and over $11 billion in active loans on its Provenance blockchain.”

Figure is co-founded by SoFi co-founder and former CEO Mike Cagney, who left the bank in 2017 amid sexual harassment allegations. The IPO would mark his return to leading a publicly traded company.

“The IPO is one step in a long process to bring blockchain to all aspects of capital markets,” he said in the company’s SEC filing. No word yet on share pricing, though.

Other Keys

Timber: Nasdaq has delisted drug developer Windtree Therapeutics, which announced last month that it would buy $700 million worth of Binance’s BNB token. The company said in an SEC filing that its shares stopped trading on the Nasdaq for failing to maintain the $1-per-share minimum bid price required by the exchange.

USA Made: Bitcoin miner Bitdeer confirmed it’s going to begin manufacturing mining rigs in the U.S. this year. That news came as two of its competitors—Iris Energy and CleanSpark—have been hit with letters from U.S. customs asking for millions in tariffs on Chinese-manufactured rigs purchased in 2024.

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August 22, 2025 0 comments

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Jerome Powell rate-cut hint jolts Ethereum price toward 2021 ATH territory

by admin August 22, 2025

A wave of optimism from Jackson Hole swept through digital asset markets, with Ethereum price leading the charge. The second-largest cryptocurrency by market cap surged over 14%, bringing its historical $4,891 all-time high firmly into view.

Summary

Ethereum surged over 14% to $4,820 after Fed Chair Jerome Powell hinted at potential rate cuts.
Trading volume jumped 95% in 24 hours, surpassing Bitcoin’s volume and pushing ETH close to its 2021 all-time high.
The move sparked broader crypto market optimism and institutional interest, reflected in ETFs and equity-linked shares.

According to crypto.news data, Ethereum (ETH) surged over 14% on August 22, jumping from a daily low of $4,205 to trade as high as $4,820 as of press time, a mere 1.5% away from its all-time high price of $4,891, set four years ago.

The token’s trading volume jumped 95% in the last 24 hours to top $68.22 billion, dwarfing Bitcoin’s (BTC) $79.86 billion during the same period. The original cryptocurrency gained 4% on Friday to exchange hands at $116,640 at the time of writing.

ETH’s stunning rally alongside a broader crypto market rebound came as Federal Reserve Chair Jerome Powell, during his keynote in Jackson Hole, Wyoming, signaled a potential pivot in monetary policy, stating that the current “shifting balance of risks may warrant adjusting our policy stance.”

“This is bullish for the front end of the yield curve and risk assets, where bitcoin is a fast horse in the race. A dovish tilt could supercharge BTC’s narrative as a hedge against fiat uncertainty, accelerating institutional accumulation and liquidity. While the mid and long end of the curve remain uncertain, bitcoin’s sensitivity to macro signals means it’s poised to ride any wave of optimism from rate cut expectations.” Jessy Gilger, investment Advisor at Bitcoin financial services firm Unchained, said.

Fed signals must meet Ethereum fundamentals

According to Marcin Kazmierczak, Co-founder of RedStone, a measured Fed easing cycle could be the final catalyst required for ETH to shatter the $4,800-$5,000 resistance barrier and chart a course toward new all-time highs. However, he cautions that Powell’s deliberately careful tone is a reminder that sustainable growth cannot rely on monetary policy speculation alone.

Kazmierczak argues that any lasting rally must be anchored by continued fundamental adoption, specifically pointing to robust institutional flows via spot ETFs and a resurgence in decentralized finance network activity. These fundamentals, rather than fleeting Fed sentiment, provide the necessary bedrock for a true breakout.

“The convergence of institutional flows, DeFi activity, and potential Fed accommodation creates a compelling setup for ETH to potentially reach the $5,000-$6,000 range that analysts have been targeting for 2025,” Kazmierczak said in a statement obtained by crypto.news.

This bullish technical and fundamental setup has encouraged strikingly optimistic predictions. Arthur Hayes, chief investment officer at Maelstrom, has projected that Ethereum’s momentum could propel it to a staggering $20,000 by the cycle’s end.

In a recent interview on Crypto Banter, Hayes stated, “The chart says it’s going higher, you can’t fight the market. I think [Ethereum] goes to $10,000, $20,000, before the end of the cycle.” This audacious forecast, while speculative, captures the intensely optimistic sentiment building around Ethereum’s potential.

Public markets respond to ETH price surge

The Ethereum price surge euphoria bled into public equity markets, offering a proxy for institutional Ethereum exposure. Companies with significant ether treasuries, which had been battered earlier in the week amid a tech sector sell-off, ripped higher in tandem with the coin’s price. Bitmine Immersion and SharpLink Gaming saw their shares jump 14% and 12%, respectively, according to CNBC data.

Still, the outlook remains layered. Ether-focused ETFs, which snapped a four-day streak of outflows with $287.6 million in inflows on Thursday, remain on pace for their worst week since May. That divergence highlights the tension between short-term speculation and long-term allocation, leaving open the question of how much institutional appetite will continue if the Fed’s policy path stays uncertain.

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August 22, 2025 0 comments

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Trump’s World Liberty Scoops Up $5M in Ethereum at $4,670

by admin August 22, 2025

Ethereum is experiencing a sharp surge as Trump-linked World Liberty Financial makes headlines with new purchases. According to blockchain analytics platform Lookonchain, World Liberty recently spent 5.025 million USDC to acquire 1,076 ETH at $4,670.

Source: X

The project, which is linked to President Trump’s Family, is coming back after selling thousands of ETH at a high loss. Lookonchain reported that a wallet tied to World Liberty sold 5,471 ETH for $8.01 million at $1,465 per token.

This came after the entity had spent nearly $210 million to accumulate 67,498 ETH at an average of $3,259. Consequently, the position is now sitting on a loss of about $125 million.

Coinbase Expands Token Roadmap

The purchase comes just a day after Coinbase added World Liberty Financial USD (USD1), the Trump-backed stablecoin, to its listing roadmap. Coinbase is trying to diversify assets across Ethereum, Base, and Solana networks with this move.

In addition, tokens like QCAD, Dolomite, and SPX6900 have made their way onto the Ethereum review list. AWE Network and Flock are now being considered on Base, while Solayer has been added for Solana.

Eric Trump, who serves as the Vice President of Trump Media Group and is also a co-founder of World Liberty, shared the news about the roadmap on X. He teased that more announcements are on the way, keeping the project in the limelight.

USD1 is officially on @Coinbase!!!
More @worldlibertyfi news to come very soon! https://t.co/GaDxpHAlH3
— Eric Trump (@EricTrump) August 21, 2025

Bitcoin OG Shifts Into Ethereum

Moreover, blockchain trackers flagged unusual activity from a long-dormant Bitcoin whale. The wallet, which received 100,784 BTC seven years ago, turned into 62,914 ETH worth $270 million.

Additionally, it established a 135,265 ETH derivatives long position valued at $580 million. Lookonchain noted that the same entity may control multiple wallets following similar strategies.

Ethereum’s market reaction to these is identifiable. As of writing, ETH trades at $4,765, up 13.07% in the past 24 hours, with volumes exceeding $59 billion.

Ethereum’s rally is getting interest from political projects and Bitcoin whales, one of them being the OG. Coinbase’s roadmap update further fuels the momentum.

Also Read: SharpLink Approves $1.5B Stock Buyback Tied to ETH Holdings

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August 22, 2025 0 comments

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Breaking: Ripple Case Officially Over as Appeals Court Approves Dismissal

by admin August 22, 2025

After more than four years of back-and-forth litigation, it’s finally over.

The United States Court of Appeals for the Second Circuit has officially closed the U.S. Securities and Exchange Commission (SEC) v. Ripple case at the appellate level.

Earlier this year, the SEC and Ripple filed a joint stipulation in the appeals court in order to request the dismissal of the agency’s appeal as well as Ripple’s cross-appeal.

The appeals court has now accepted the joint stipulation, officially putting an end to the grueling legal case that has dragged on since late 2020.

As reported by U.Today, the SEC and Ripple reached a settlement earlier this year following the exit of former Chair Gary Gensler. The SEC agreed to reduce Ripple’s monetary penalty as well as drop the permanent injunction preventing the company from conducting institutional XRP sales in the US.

However, the case has now ended with Judge Torreses’s final judgment remaining intact after she refused to amend it.

XRP’s tepid reaction

The price of the XRP token has barely budged following the recent development, which has been mostly priced in by the market.

LDO, ENA Tokens Rally More Than 10% as Traders Snap Up Cheap Staking Tokens

by admin August 22, 2025

Crypto traders bought the dip in several Ethereum staking tokens on Friday, lifting the likes of lido (LDO) and ethena ENA$0.7429 up by 14% and 15%, respectively.

The gains follows a week-long decline that took place alongside a rapid shift in sentiment, which is typically a signal to buy.

Lido and ethena are returning to last week’s highs after an early August rally spurred by the U.S. Securities and Exchange Commission’s statement that liquid staking protocols aren’t securities.

The SEC’s statement was viewed as bullish for the decentralized finance (DeFi) ecosystem, in particular for Ethereum-based protocols that depend on staking mechanisms to generate a yield.

ENA/USD and LDO/USD charts (TradingView)

The clarity also opened the floodgates for institutions, with Figment’s dominance over other liquid-staking protocols suggesting that institutional inflows were beginning to drive the sector.

Trading volume for ENA trading pairs doubled in the past 24 hours to $1 billion, while LDO is up by 83% to $256 million, according to CoinMarketCap.

The surge in volume coupled with bitcoin BTC$116,992.31 and ether’s (ETH) ability to hold key levels of support bodes well for the altcoin sector in general, although it’s worth noting that the ether validator queue remains extremely high at 825,580 ETH ($3.8 billion).

When these ether tokens are unstaked, they can either be sold on the open market as a form of profit-taking, or staked elsewhere to generate a higher yield — the former would likely halt any further moves to the upside.

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August 22, 2025 0 comments

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Are Bitcoin Treasury Companies Good Or Bad? Analysts Expand On Skepticism

by admin August 22, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The rise of Bitcoin treasury companies has sparked an intense debate over whether they add stability or new layers of risk to businesses. Analysts from the global credit rating agency, Morningstar have expanded on the skepticism, pointing out that using cryptocurrencies such as Bitcoin as a primary reserve currency may weaken, rather than strengthen the stability of corporate treasuries.

The Dark Side Of Bitcoin Treasury Companies

The adoption of cryptocurrencies for treasury functions has become one of the most trending topics in the financial industry. In a commentary published on August 21, Morningstar analysts noted that while Bitcoin and Ethereum are increasingly used for payments and investments, the shifts toward employing them for treasury functions introduce risks that could outweigh potential benefits.

According to the commentary, Bitcoin treasury companies are likely exposing themselves to elevated levels of financial instability. One of the biggest drivers of this risk is the absence of clear regulatory oversight. Morningstar analysts highlighted the lack of a global regulatory framework for cryptocurrencies, with countries like the United States and Canada adopting differing approaches, while others, such as Egypt and China, impose outright bans.

This fragmented environment reportedly creates unpredictability for corporations that must manage compliance and financial stability. For treasuries, where certainty and legal clarity are vital, the analysts caution that such uncertainty may heighten credit risk and weaken confidence in long-term planning.

Morningstar further stressed that cryptocurrency markets lack the depth of traditional asset markets, making liquidity unreliable. The analysts warn that this can cause companies to incur losses or face delays when attempting to access capital. They also note that such disruptions undermine the efficiency expected of corporate treasury management.

Morningstar’s report also highlighted security risks for Bitcoin treasury concerns companies, noting that reliance on third-party custodians and exchanges such as Coinbase or Binance exposes them to operational failure, cyberattacks, and regulatory disputes. It added that the dual role of these exchanges as both trading platforms and custodians increases counterparty risks, weakening the stability of treasury reserves.

Further Warnings Issued Over BTC Treasury Firms

In the commentary, Morningstar analysts further stated that volatility remains the most striking weakness of Bitcoin treasury companies. Their research underscored that Bitcoin is nearly five times more volatile than the S&P 500 in the short term, exposing companies to sudden valuation swings that can severely destabilize operations.

Morningstar also noted that the materiality of crypto holdings is another central concern of Bitcoin treasury companies. The analysts caution that when digital assets make up a significant portion of a company’s reserves, the treasury begins to function more like a speculative portfolio than a financial safeguard.

The report pointed out that firms like Strategy Inc., which holds over 629,000 BTC, are particularly exposed to this imbalance. With the top 20 public companies controlling 94% of total public Bitcoin treasury holdings, the sector also faces significant concentration risks. Furthermore, Morningstar warns that Bitcoin treasury companies may also be vulnerable to technical failures, exchange insolvency, liquidity crises, and weakened creditworthiness, even with insurance and security measures in place.

BTC trading at $112,928 on the 1D chart | Source: BTCUSDT on Tradingview.com

Featured image from Pixabay, chart from Tradingview.com

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August 22, 2025 0 comments

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Ethereum, Bitcoin Spike After Powell Signals Interest Rate Cut

by admin August 22, 2025

In brief

The Federal Reserve has left the interest rate unchanged at its last five meetings.
In a speech at an annual gathering in Jackson Hole, Wyoming, Powell said that conditions had changed.
The Fed meets again in September.

The price of Bitcoin and other cryptocurrencies rose on Friday after Federal Reserve Chairman Jerome Powell signaled the possibility of an interest rate cut in Jackson Hole, Wyoming.

Within 15 minutes of Powell’s speech starting, Bitcoin jumped above $114,700 from $112,000, a nearly 2.5% gain, while Ethereum surged to $4,600 from $4,300, an almost 7% increase, according to crypto data provider CoinGecko. Both cryptocurrencies remained down 2.9% and 1.4%, respectively, over the past week.

By the time Powell was done with his remarks, altcoins were soaring. XRP and Solana had both surged more than 6% in less than an hour, with XRP regaining the $3 threshold for the first time since Tuesday. Dogecoin leapt more than 7% for the same time frame. However, most altcoins tracked by CoinGecko were still slightly in the red on the week, a sign of investors’ earlier angst about the Fed’s path forward.

An interest rate cut would likely buoy cryptocurrency and other risk-on assets by boosting liquidity for investment. U.S. President Donald Trump has been pressuring Powell relentlessly to slash rates amid concerns that the economy is slowing.

In a Myriad Linea market, 87% of respondents expect the Fed to change the interest rate, up from closer to 70% earlier this week.

(Disclosure: Myriad is a prediction market and engagement platform developed by Dastan, parent company of an editorially independent Decrypt.)

Powell was steadfast in his assessment that the central bank faces elevated inflation risks compared to the labor market, but he said that the central bank is prepared to adjust its policy stance if its dual mandate of full employment and stable prices is in conflict.

Caveating that the central bank is not on any preset course, Powell said “the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance,” indicating that the central bank may lower interest rates at its September meeting.

Still, Powell warned that inflation from Trump’s tariffs has not been fully reflected in economic data, and it could be that way for months.

“It will continue to take more time for tariff increases to work their way through supply chains and distribution networks,” he said. “Come what may, we will not allow a one-time increase in the price level to become an ongoing inflation problem.”

Analysts say that Bitcoin and other cryptocurrencies were falling earlier this week in anticipation of Powell’s eighth and final speech in Jackson Hole as Fed chair. With markets positioned for easing in September, they said “cautiously hawkish” remarks could disappoint investors.

Bitwise Senior Investment Strategist Juan Leon told Decrypt on Thursday that he expected Powell to focus on sticky inflation and tariff uncertainty, while avoiding any pre-commitment to a rate cut in September and potentially pressuring risk-on assets with a firmer tone.

Powell looked back on the COVID-19 pandemic in defending his tenure as Fed chair. The central bank took drastic measures to stabilize markets and stimulate growth as the U.S. economy ground to a halt nearly overnight. And as a red-hot economy roared back from pandemic-related pressures, inflation peaked at a four-decade high of 9.1% in June 2022.

UPDATE (August 22, 2025, 11:01 a.m. ET): Adds token price information and context on the impact of a rate cut.

UPDATE (August 22, 2025, 11:08 a.m. ET): Adds Myriad Linea paragraph.

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August 22, 2025 0 comments