According to Odaily's OKX market data, ETH has fallen below 4,500 USDT, currently trading at 4,499.19 USDT, a 24-hour drop of 4.11%. (This newsletter was generated with AI assistance.)

Marc Summerlin, an economist considered a potential candidate for Federal Reserve chairman, said policymakers should cut interest rates aggressively next month, but warned they would have to halt those cuts if long-term Treasury yields rise. Sumerlin is an economist at management consulting firm Evenflow Macro. Mark Summerlin said the federal funds rate of 4.3% is too high and there's room for a 50 basis point cut. He supports a 50 basis point cut due to the inverted yield curve. (Bloomberg)

According to Onchain Lens, a whale address withdrew 25,600 SOL (worth $4.94 million) from Binance after a month of inactivity. Previously, the same address had withdrawn 3 million USDC from Binance.

Odaily Planet Daily News: As the price of Ethereum soared to $4,780, three major hackers recently concentrated on selling stolen funds: Radiant Capital hackers: Last October, they stole $53 million in assets and converted them into 21,957 ETH (average price $2,414). This week, they sold 9,631 ETH for $44 million. The remaining 12,326 ETH brought their total profit to $101 million, a $48.3 million increase from the initial stolen funds. Infini Protocol attacker: After stealing $49.5 million in USDC in February, they purchased 17,696 ETH (average price $2,798). They recently sold 3,540 ETH for a profit of $13 million, leaving their remaining assets worth $25.15 million. An anonymous hacker stole 17,412 ETH in March and sold them at a low price. In June, he bought back 4,957 ETH at $2,495 and sold them at $4,464 this week, making a profit of $9.76 million. Data shows that hackers stole $1.49 billion in 2024, and exceeded $3.1 billion in the first half of 2025, creating the most serious security crisis in 18 months. (CoinDesk)

Cryptocurrency derivatives exchange Deribit will launch linear options and futures contracts on Bitcoin and Ethereum settled in USDC on August 19th. These new products will run in parallel with existing inverse contracts, allowing the two types of contracts to offset each other's margin requirements, thereby improving capital utilization efficiency. Deribit CEO Luuk Strijers said that using USDC settlement can provide greater flexibility and capital efficiency for institutional and retail participants. (The Block)

Odaily Planet Daily reports market news: The Trump administration is considering using funds from the Chip Act to acquire a stake in Intel. (Jinshi)