Solana's official developer account said onchain voting for governance proposals SGP0001 to SGP0003 began at epoch 1023 and will end Aug 26 at 15:30 UTC. The proposals cover adopting a Solana Constitution, raising the inflation reduction rate from 15% to 30%, and changing transaction fees to a fixed inclusion fee plus a variable resource fee.

Tether CEO Paolo Ardoino said on August 23, as reported by Criptonoticias, that USDT adoption is accelerating across developing economies including Venezuela, Argentina, Bolivia and Turkey. He said demand is being driven by domestic and cross-border commerce, as well as by households and businesses treating USDT as a "digital dollar" and store of value amid sharp local-currency depreciation, limited availability of U.S. dollar cash, and restrictions in parts of the financial system. In Venezuela, small and medium-sized enterprises are using USDT to settle import and export payments. In Bolivia, it is being used for everyday commercial activity, including fuel purchases. In Argentina, USDT has become common in street economies and peer-to-peer markets for savings and exchange. In Turkey, residents are turning to USDT as a hedge against persistent inflation.

Phantom will discontinue support for Sui within the Phantom wallet on September 24, Phantom and Sui said on August 24 (UTC+8), adding that they may explore potential collaborations in the future. Until September 24, users can move their Sui wallets to other Sui-supported apps or swap Sui into other assets available on Phantom, with no transaction fees. (Source: ODAILY)

UPDATE: Phantom said it will end support for Sui on September 24. The wallet provider is urging users to move their funds or swap Sui-related assets before the cutoff. Phantom added that fees will be waived for these actions ahead of the deadline.

Bitcoin posted a weekly gain of over 23%, its largest one-week advance since March 2023.

Huo Xing Cai Jing said Aug. 24 that EmberCN tracking shows Huang Licheng, also known as "Maji Dage", profited from last week's one-way rally in crypto by rolling a long position from about $1.5 million to roughly $11.15 million, effectively recouping around $11 million of prior losses. Over the past 10 months, his ETH long positions had posted losses of about $35 million. After the latest gains, his cumulative historical loss has narrowed to around $24 million. Earlier on-chain data had indicated his total losses were still in the tens of millions of dollars. Huang currently holds approximately $129 million in long exposure across ETH, BTC, HYPE and PUMP, with an overall leverage ratio of about 12x. If the market maintains its one-sided advance, the earlier $35 million drawdown could shrink further. A shift into consolidation or a downturn could also quickly wipe out the recent $11 million profit given the high-leverage rollover strategy.

U.S. Treasury Secretary Scott Bessent is pressing ahead with a long-dated Treasury buyback program, saying each operation will repurchase at least an additional $2 billion of long-term Treasuries through Nov. 4. Markets read the move as a signal the government is seeking to rein in financing costs and steady the bond market. After the announcement, gold extended its rally, jumping 2.4% on Friday and posting a cumulative gain of 5.9%. Silver and platinum also climbed sharply, up 8.6% and 9.3%, respectively.

THE BLOCK reports that Bitcoin posted its biggest weekly gain on record in dollar terms, rising $14,264, or 22.7%, to close at $77,387. The market's Fear & Greed Index reached 79, marking its strongest reading since December 2024. bitcoin:native

Abraxas Capital is leaning bearish, building roughly $783 million in short positions on Hyperliquid. At the same time, the firm is actively hedging through spot purchases, withdrawing 73,872 ETH (about $173.17 million) from Binance over the past four days.