Circle's stablecoin issuance increased by $1.7 billion over seven days, while stablecoins on the Tron network grew by $950 million in the same period.

Former Hack VC partner and platform head Hsin-Ju tweeted that she has rejected Hack VC’s settlement offer and will release evidence related to her tenure at the firm on August 26. Hsin-Ju previously alleged that during her time at Hack VC, she was ordered to continue working despite a medical emergency, and the firm threatened to blacklist her from the industry if she resigned early before completing an event. Following the incident, she accused the firm of mishandling her health insurance after her departure and continuing to pressure her during legal proceedings. She has since fired her attorney and stated she would rather forgo the settlement sum than keep the matter private. In response, Hack VC tweeted that it has taken note of Hsin-Ju’s posts and expressed deep concern for her well-being. The firm also noted that its understanding of the incident differs significantly from Hsin-Ju’s claims, but it does not wish to discuss details publicly out of respect for privacy.

According to an official announcement, Upbit will list the LIT/KRW trading pair, with trading expected to open at 13:00 local time on August 24.

According to HTX market data, LIT rallied more than 5% in a short period due to news of its upcoming listing on Upbit, and is now trading at $3.95. Earlier reports indicated that Upbit will launch the LIT/KRW trading pair.

Federal Reserve Bank of Minneapolis President Neel Kashkari said that although the 10-year U.S. Treasury yield has recently risen to around 4.7%, it has not reached historically abnormal levels. There are currently no signs of dysfunction in the U.S. Treasury market, so the Federal Reserve does not need to adjust its policies in response to Treasury yield fluctuations and can continue to prioritize controlling inflation as its core priority. Kashkari noted that long-term U.S. Treasury yields are influenced by multiple factors including inflation expectations, AI investment, government borrowing, economic growth and productivity, and it remains impossible to determine the main driver behind the recent synchronized rise in global bond yields. U.S. Treasury issuance and debt market management should be the responsibility of the U.S. Treasury Department, while the Federal Reserve should focus on its inflation and employment mandates. He also warned that the Iran conflict could drive up energy prices, and U.S.-Canada trade frictions may prolong supply-side price pressures. Kashkari added that over the past few years, the Federal Reserve has repeatedly projected inflation would return to the 2% target within the next one to two years, but this timeline has been repeatedly delayed, and he is still not confident that inflation is quickly returning to the target. Markets are currently focused on this week's Jackson Hole Economic Symposium, and the speech by Wash on Friday may send more signals for the September interest rate decision.

According to Bitget market data, Hong Kong-listed Alibaba’s stock fell more than 10%, hitting a new low in nearly a month. On the news front, Alibaba announced Sunday that it plans to place new shares in Hong Kong. The company said the total value of the placement is HK$80 billion (US$10.2 billion). This transaction will be the largest primary follow-on offering in the history of Hong Kong-listed firms, the largest Regulation S stock offering on record (for securities offerings and sales conducted outside the U.S.), and the world’s third-largest primary follow-on stock offering this year, after Alphabet and Intel.

Fed Chair Walsh will attend the Jackson Hole Economic Symposium this Friday for the first time in his capacity as chair. Markets are awaiting his speech to clarify the Fed’s policy framework following sharp cuts to forward guidance, in a bid to ease recent tensions in the U.S. Treasury market. Previously, Walsh scaled back guidance on future interest rate paths in policy communications and even hinted at a possible adjustment to the inflation target, sparking market concerns over the Fed’s transparency and policy credibility. A survey shows over 60% of surveyed economists believe the Fed’s credibility crisis has been a major driver of the surge in long-term U.S. Treasury yields. Meanwhile, Treasury Secretary Bessent is attempting to lower borrowing costs by expanding the scale of longer-term U.S. Treasury repurchase operations, while Walsh appears to tolerate the rise in long-end yields—this has drawn market attention to policy divergences between the Federal Reserve and the U.S. Treasury. Analysts warn that if Walsh fails to release clear policy signals on Friday, the outcome could be seen as "disappointing" by markets, further intensifying sell-offs in long-term U.S. Treasuries. If he can clearly define potential inflationary pressures, it is expected to reduce term premiums and ease bond market pressure.