Meme coin microduck surges more than 370% in 24 hours, with its market cap climbing to $12.44 million.

According to EmberCN monitoring, the Trump Digital Gold (GOLD) scam team sold all its holdings of GOLD tokens at around 2 PM today, totaling roughly 824.54 million tokens — accounting for 82.454% of the total token supply — for a cumulative profit of approximately 9,784.6 SOL (about $1.01 million). GOLD was created on Solana at 7:38 AM today; related addresses had already amassed over 82% of the token supply via distribution and post-launch buys. Around 9 AM, Trump merchandise partner account @realtrumpcoins1 posted a tweet including GOLD’s contract address, pushing the token’s market cap to a peak of $66 million. At roughly 11:48 AM, the tweet was deleted, and the linked addresses immediately began concentrated selling. GOLD’s market cap crashed from $55 million to $1 million in just 30 seconds, after which the scam operators continued offloading until all their tokens were sold. Currently, GOLD’s market cap stands at around $700,000, a 99% plunge from its peak.

Bank for International Settlements (BIS) General Manager Pablo Hernández de Cos stated that stablecoins currently lack credibility as a large-scale payment tool, whereas tokenized bank deposits are more likely to leverage blockchain technology while upholding the foundations of the existing monetary system. Hernández de Cos noted that while stablecoins could reduce government financing costs, a mass shift of bank deposits into stablecoins might drive up banks’ funding costs, which would ultimately be passed on to households and businesses via higher lending rates. Additionally, limited interoperability between stablecoins, inconsistent enforcement of anti-money laundering (AML) rules, and the growing adoption of dollar-denominated stablecoins outside the U.S. could pose risks to financial stability and monetary sovereignty. A recent study from the BIS’ Financial Stability Institute (FSI) also revealed significant discrepancies in how the U.S., EU, UK, Hong Kong, and Singapore regulate stablecoin issuers. Specifically, the U.S. and Singapore impose relatively strict restrictions on non-bank issuers. The U.S. GENIUS Act, in principle, restricts payment stablecoin issuers from engaging in activities such as lending, staking, proprietary trading, and third-party crypto asset custody; Hong Kong, the UK, and the EU allow some of these activities if issuers obtain additional authorization or regulatory approval.

According to reports, Changxin Memory Technologies sued the U.S. Department of Defense (DoD) on August 28 (Eastern Time). The company stated today that it filed the lawsuit in the U.S. District Court for the District of Columbia, accusing the DoD of wrongfully placing it on the "Chinese Military Enterprises" list. Changxin was first added to the list in January 2025. It clarified that it is not a military enterprise, only developing and producing DRAM (Dynamic Random Access Memory) products for commercial and civilian use, with no military applications. (Jinshi)

Avici stated in a post that its card-issuing partner Rain discovered a vulnerability in an old Solana card contract used by Avici and a small number of other projects today. The relevant contract has now been upgraded across all projects, and no further unauthorized activity has been detected. Avici noted that the incident only affected the separate Solana contract holding post-recharge card balances; users’ Avici wallets are isolated from their card balances, and funds in Solana and EVM self-custody wallets remain secure and unimpacted. Current checks show a total of 1,685 affected users, with involved card balances amounting to approximately $500,900. Avici has promised full refunds to all affected users and filed a report with the Internet Crime Complaint Center (IC3) of the U.S. Federal Bureau of Investigation (FBI). Earlier today, BlockBeats reported that crypto banking project Avici’s native token AVICI was allegedly hacked, with losses totaling around $1.02 million. The attacker transferred the stolen 10,000 SOL to another wallet, converted it to roughly $1.02 million in USDC, then swapped the funds for about 418 ETH via cross-chain operations.

StoneX market analyst Fawad Razaqzada said that Christopher Waller’s Friday evening speech was deemed quite hawkish. Waller delivered what the market expected to hear on forward guidance: he does not believe in forward guidance, so he declined to pre-commit to a September rate hike. That said, it did not stop markets from speculating that a rate hike could actually be back on the table. On inflation, Waller stated that fighting inflation remains a clear priority, and he elaborated on this point, though he added that he is confident core inflation is moving toward the Federal Reserve’s target. Overall, his speech was more hawkish than market expectations. During Waller’s Jackson Hole speech, markets sharply repriced the Fed’s September policy decision: the probability of a 25 basis point rate hike jumped from 30% to around 50%. Ahead of the September Fed meeting, one non-farm payrolls report, one CPI inflation report, and several other minor data releases are still to come. Under the new Fed leadership, the central bank has grown more data-dependent. Given that recent U.S. jobs reports have consistently missed expectations by a wide margin, any further signs of weakness could significantly erode market bets on a September rate hike.

According to foreign media reports, on local time August 28, Chinese chip manufacturer Changxin Memory Technologies (CXMT) filed a lawsuit against the U.S. Department of Defense, seeking its removal from a blacklist. Bloomberg reported that CXMT stated the chips it designs are used for civilian and commercial purposes, not military applications, and claimed it was incorrectly added to the blacklist. The lawsuit was submitted to the U.S. District Court for the District of Columbia, with U.S. Secretary of Defense Pete Hegseth also named as a defendant. In a statement issued after filing the suit, CXMT said it is not a defense enterprise, and its reputation and commercial interests have suffered continuous damage since it was first placed on the blacklist in January 2025. The company added that the action was taken to protect its business interests. Reuters noted that the U.S. Department of Defense said in a statement that per its policy, it does not comment on undecided or ongoing litigation.