The U.S. Senate Banking Committee Advances the "Financial Transparency and Regulatory Compliance Act"

Wells Fargo stated that Marvell Technology (MRVL.O) has delivered strong performance this year, and its stock price is expected to continue rising as the company prepares to release its latest quarterly earnings report. The firm assigned an "Overweight" rating to the chipmaker and raised its price target from $240 to $310, representing nearly 31% upside from last Friday’s closing price. "We view Marvell more as a chip company with independent growth logic, and its performance is likely to outpace the overall growth of the chip industry regardless of whether the sector is in a good or bad cycle," it noted.

According to monitoring by EmberCN, a crypto whale transferred 8 million USDC into Hyperliquid half an hour ago, opening long positions in BTC and ETH worth $71.8 million, with an unrealized profit of over $150,000. Notably, the whale opened the positions just before the release of news that the U.S. Treasury may deploy nearly $1 trillion to fund an expansion of the U.S. Treasury bond repurchase program. Its holdings are as follows: 600 BTC valued at $46.94 million, with an average long entry price of $78,032; 10,000 ETH valued at $24.89 million, with an average long entry price of $2,479.

Strategy today announced the establishment of a dedicated U.S. dollar liquidity pool named "USD Cash" under its Digital Credit Capital framework. The pool will be used for general Bitcoin financial company purposes, including purchasing Bitcoin, paying preferred stock dividends and debt interest, repurchasing common or preferred stock, repaying convertible bonds, and increasing U.S. dollar reserves. The company emphasized that its existing USD Reserve policy remains unchanged, continuing to be exclusively used for supporting preferred stock dividends and outstanding debt interest payments. USD Cash, as a complementary tool, grants management more flexible capital deployment capabilities to respond faster to market changes and price dislocations in Bitcoin or the company’s securities. As of August 23, the USD Reserve balance stood at $5.1 billion, while USD Cash’s balance was $1.59 billion. Both figures include expected cash proceeds from sold but unsettled at-the-money (ATM) shares. During the week of August 17 to 23, Strategy sold 18,261,118 common shares of MSTR solely via at-the-market follow-on offerings, generating net proceeds of $2.0065 billion. Of this amount, $136.4 million was used to repurchase STRC preferred stock, $300 million was added to the USD Reserve, and the remainder was allocated to USD Cash. As of August 23, the company’s Bitcoin holdings totaled 840,447 coins, with a total purchase cost of $63.36 billion and an average purchase price of $75,385. No Bitcoin transactions were executed during the week.

US Bitcoin treasury firm Strive announced it purchased 1,110 Bitcoin last week at an average price of roughly $73,409, a significant surge from its previous weekly buying scale. As of August 21, Strive holds a total of 21,356 Bitcoin, alongside 505,000 preferred shares of Strategy STRC (with a fair value of approximately $48.57 million) and around $171.9 million in cash.

According to the official website of the Shanghai Stock Exchange (SSE), Shanghai Sugon Technology Co., Ltd. — one of China’s "four leading domestic GPU startups" — has announced plans for an initial public offering (IPO) to list on the SSE’s Science and Technology Innovation Board (STAR Market). The preliminary inquiry date is August 28, and the issuance price will be set on August 31. The initial strategic placement volume for the offering is 8.607034 million shares, accounting for approximately 20.00% of the total offering size. The difference between the final and initial strategic placement volumes will be reallocated in line with the principles outlined in Section 6: "The Offering’s Clawback Mechanism". Prior to the activation of the clawback mechanism, the initial offline institutional offering volume is 27.542639 million shares, representing roughly 80.00% of the offering size after deducting the initial strategic placement. The initial online retail offering volume is 6.8855 million shares, accounting for approximately 20.00% of the post-initial-strategic-placement offering size. The total final offline and online offering volume equals the overall offering size minus the final strategic placement volume, with the final online and offline volumes to be determined based on clawback adjustments.

After news broke that the U.S. Treasury may draw nearly $1 trillion in Treasury General Account (TGA) funds to support its recently announced expanded U.S. Treasury bond repurchase program, the market received a short-term boost. U.S. Treasury Secretary Scott Bessent said such operations could even exceed this new minimum level. However, the Treasury did not specify at the time how it would fund these purchases. Per HTX market data, Ethereum rose above $2,500, while Bitcoin broke through $78,000. Per BIT (bit.com) market data, U.S. stock index futures pared some losses: S&P 500 and Dow Jones futures are currently down around 0.1%, and Nasdaq futures are down roughly 0.4%. U.S. Treasuries extended their rally, with the 10-year Treasury yield falling 4 basis points to 4.70%. Per Bitget market data, spot gold climbed above $4,670 per ounce, up 1.47% on the day.