El Salvador May Establish a Bitcoin Bank

On August 8th, based on DefiLlama data, the TVL of the Linea Network has witnessed a surge of over 37% in the past 24 hours and currently stands at $2.6082 billion. Yesterday, the DEX protocol Etherex, which completed its TGE, became the protocol with the largest TVL on the Linea Network. Its current TVL is $96.13 million, representing a weekly increase of 1241%.

On August 8th, as per the monitoring of LookOnChain, 10 Bitcoin ETFs witnessed a net inflow of 2,195 BTC (approximately $256 million) within a single day. Among them, iShares (BlackRock) received 1,191 BTC (approximately $139 million) and currently holds 739,362 BTC (approximately $86.23 billion). In addition, 9 Ethereum ETFs saw a net inflow of 43,329 ETH (approximately $169 million) in a single day. iShares (BlackRock) received 26,604 ETH (approximately $104 million) and currently holds 2,987,576 ETH (approximately $11.67 billion).

On August 8th, according to the market data from Rockflow, the US stock cryptocurrency sector opened with a general upward trend. This includes: ETH MicroStrategy Stocks: BMNR rose by more than 5%, and SBET increased by 2.18%; BNB MicroStrategy Stocks: BNC went up by 5.03%, while WINT dropped by 2.18%; COIN rose by 0.18% and CRCL rose by 1.27%.

On August 8th, it was reported by sources that the Solana financial tool SPAC deal led by Joe McCann has been called off. The reason for the failed transaction has not been made public immediately. Two weeks ago, a limited partner at McCann's hedge fund Asymmetric posted on X that the fund has witnessed a nearly 80% decline year-to-date. On July 24th, it was announced that Joe McCann, the founder and CEO of the crypto hedge fund Asymmetric Financial, is going to serve as the CEO of a new Solana treasury company called Accelerate. The company plans to raise up to $1.51 billion. It intends to raise $800 million through a PIPE, $358.8 million through a SPAC, $250 million through convertible bonds, and sell $103.2 million in SPAC subscription rights. If this fundraising is successful, Accelerate will promptly start to establish a new Solana treasury or become the largest SOL treasury management company in the market.

On August 8th, the Nasdaq-listed company Trident Digital Tech Holdings (TDTH) announced today that it has the intention to apply for a stablecoin operational license in multiple African countries with the aim of promoting the application of RLUSD in the African market. Additionally, the company plans to raise $5 billion in order to establish a corporate XRP reserve pool so as to enhance the integration with the Ripple ecosystem. The company is currently in the early stages of discussions with regulatory agencies and financial institutions in different countries and is anticipated to commence the phased deployment in pilot countries by the middle of 2026.

On August 8th, Bloomberg ETF analyst Eric Balchunas declared that the first 2x long Galaxy ETF (GLXU) officially began trading on this very day.