Odaily Planet Daily reports that after President Trump signed the GENIUS Stablecoin Act, the U.S. Treasury Department issued a public comment on August 18th, seeking public feedback on how financial institutions can prevent illegal activities (such as money laundering) involving digital assets. The new law requires stablecoins to be fully backed by U.S. dollars or equivalent liquid assets, conducts annual audits for issuers with a market capitalization of more than $50 billion, and regulates overseas issuance. Treasury Secretary Scott Bessent stated that stablecoins will expand global use of the U.S. dollar and increase demand for U.S. Treasury bonds, benefiting users, issuers, and the Treasury. The public comment period ends on October 17th. Some banking associations have expressed concern about the bill's weakening of interest restrictions on issuers, arguing that stablecoins could become stores of value and credit instruments rather than simply means of payment.

Odaily Planet Daily News: The U.S. Securities and Exchange Commission (SEC) has postponed its approval decision on the application of Truth Social, a social platform under Trump Media and Technology Group, for Bitcoin and Ethereum ETFs. According to documents filed on Monday, the SEC extended the approval deadline for the Truth Social ETF to October 8, a routine procedure for the agency to evaluate dozens of cryptocurrency ETF proposals. The CoinShares Litecoin ETF, the CoinShares Ripple ETF, and the 21 Shares Ripple ETF also had their approvals postponed on the same day, with the decision deadlines for these products extended to late October. The SEC stated in the filing: "The Commission believes that an extension of time is necessary to fully evaluate the proposal and related issues." (The Block)

According to Onchain Lens, an address suspected of being associated with Longling Capital deposited 5,000 ETH (worth $21.73 million) into Binance, possibly for sale. Over the past three days, the wallet has deposited a total of 13,000 ETH (worth $53.38 million). Currently, the wallet holds 74,090 ETH (worth $322.6 million).

Odaily Planet Daily reported that Coinglass data showed that the entire network had a liquidation of US$585 million in the past 24 hours, of which long positions had a liquidation of US$504 million, short positions had a liquidation of US$81 million, ETH had a liquidation of US$241 million, and BTC had a liquidation of US$132 million.

According to Odaily's OKX market data, BTC rebounded above 116,000 USDT, currently trading at 116,029.3 USDT, narrowing its 24-hour decline to 1.86%. (This newsletter was generated with AI assistance.)

Odaily Planet Daily reported that Coinbase Futures officially announced on the X platform that US users can now access SOL and XRP perpetual futures contracts on Coinbase Financial Markets, obtaining 5x leverage in a secure and regulated environment.