BREAKING: $435 million has been liquidated from the cryptocurrency market in the past 12 hours.

According to market data from BIT (bit.com), the Nasdaq fell by 1%, the Dow Jones dropped 0.8%, and the S&P 500 declined 0.4%.

According to official announcements, on-chain reputation protocol Ethos Network has announced that it will launch a WHUF token auction on September 1, with plans to sell 20% of the token’s total supply. The auction features an 85% price protection mechanism, an initial fully diluted valuation (FDV) of $1 million, and a maximum valuation cap of $99 million. Additionally, Ethos will offer extra rewards for contributor XP and referrer participants. Users can complete registration in advance to join the WHUF token auction and related incentive activities.

Bitcoin (BTC) may be approaching a "golden cross" formation, a technical analysis pattern generally regarded as a long-term bullish momentum signal. The pattern will be officially confirmed if Bitcoin continues its upward trend by breaking above the 50-day simple moving average (SMA), and also surpassing the current 200-day SMA of $69,005. This potential cross emerges as Bitcoin’s price has climbed to $71,000, having rallied over 12% in the past week, and currently trades slightly above its 200-day SMA. The 200-day SMA, which reflects Bitcoin’s average closing price over the past 200 trading days, is widely used to gauge long-term market trends. If Bitcoin remains above this moving average, it typically signals a potential shift from a bear market to a bull market; conversely, a break below the 200-day SMA would send the opposite signal.

Federal Reserve official Musalem stated that raising interest rates now could help avoid more aggressive monetary policy actions in the future.

US Treasury Secretary Bessent stated that regarding US Treasuries, the administration will monitor the situation and assess whether additional actions are necessary. We need to focus on fundamentals, and we are working to maintain market balance. Any movements in bond markets within a 24-hour window are noise.

Coldcard Releases New Firmware Versions 5.6.1 (Mk4/Mk5) and 1.5.1Q (Q) The update comes after three weeks of ongoing security reviews following the July 31 emergency fix, with a focus on addressing security risks from prior mnemonic phrase generation attacks. The company said every newly generated mnemonic phrase will now require at least one user entropy source—including a minimum of 65 irregular key presses, 50 physical dice rolls, or 128 physical coin flips—combining user input with fresh entropy from STM32 TRNG, SE1, and SE2. Beyond strengthening the mnemonic generation mechanism, the new firmware adds real-time staged PSBT verification before signing, enhances USB connectivity and firmware update boundaries, improves Delta Mode isolation, fixes active wallet backup issues, strengthens random number generator initialization and fault checks, adjusts default SIGHASH settings, and includes multiple security and correctness improvements. Coldcard noted the update aims to further reduce the device’s attack risk. A critical warning: updating firmware cannot repair existing mnemonics generated by affected firmware. If a user’s mnemonic falls under this security advisory, they should first update their device, then generate and verify a new mnemonic, and migrate funds to the new wallet. Coldcard strongly urges all Mk4, Mk5, and Q users to update their devices promptly and verify the signature of the downloaded firmware.