The Hang Seng Tech Index’s decline widened to 4%, with MINIMAX-W plunging more than 10%.

Robinhood co-founder Vlad Tenev praised the work of builders on Robinhood’s blockchain during a recent appearance on the popular podcast *The Iced Coffee Hour*. Tenev noted that on-chain developers have built unique liquidity pools and protocols the company did not initially anticipate, combining meme coins, core crypto assets, and stock tokens. Meme coins act as an “entry point” or “reward mechanism” to connect users to actual stock tokens. Looking ahead, Tenev outlined a vision to raise the share of U.S. households holding stocks from roughly 50% before Robinhood’s launch to around 65%, with a long-term goal of pushing that figure above 95%. He emphasized tokenization as a critical tool, stating it will make U.S. blue-chip stocks and other real-world assets more accessible for global distribution. Separately, Binance’s CZ (Changpeng Zhao) also commented on crypto-stock memes on X yesterday, writing: “This is certainly fresh and interesting. But we need to ensure issuers can actually fulfill their obligations.”

This week, global markets will face multiple risk events, and the crypto market’s long-awaited rebound will be put to the test. The renewed tensions between the US and Iran will be the primary focus of market attention. US Treasury Secretary Bessent stated that the Trump administration will announce new sanctions against Iran on Monday. Trump previously warned that any country providing support to Iran could face economic consequences. Key events to watch (Beijing time): Monday: US Treasury Secretary Bessent holds a press conference on specific actions to escalate economic sanctions against Iran. Wednesday: US data releases include July core PCE price index year-over-year, July personal spending month-over-month, Q2 real GDP annualized quarterly rate revision, and July core PCE price index month-over-month; Nvidia releases its earnings report after US market close. Thursday: The Jackson Hole Global Central Bank Conference runs from August 27 to 29, with Federal Reserve Chair Waller delivering his first speech on August 28; Nvidia holds its earnings call. Friday: US data releases include August Chicago PMI, preliminary 2026 nonfarm payrolls benchmark revision, final August University of Michigan Consumer Sentiment Index, and final August 1-year inflation expectations.

According to monitoring by Onchain Lens, institutional crypto custodian Ceffu has withdrawn 120 million USDC from Ethena’s Coinbase Prime custodial wallet via six transactions over the past day. The most recent withdrawal, totaling 30 million USDC, took place approximately six hours ago.

Renowned crypto trader Killa posted a statement yesterday, noting that compared to Bitcoin’s 2022 bottom pattern, he expects the current Bitcoin pullback after a rally to be shallow, with $70,000 to $73,000 likely marking the bottom, and backing a subsequent breakout above the $80,000 mark. “I expect a range to form, allowing accumulation of long positions from chasing highs and liquidity building. The market may even see another liquidation sweep above $79,500 before finally heading toward the $70,000 low, followed by expansion,” Killa said. As a BTC-focused quantitative trader, Killa previously predicted the peak of this bull market in May 2025 and boasts over 200,000 followers on X. In mid-April, he shorted Bitcoin at $74,688, then shifted to long positions during the broad market sell-off on June 5.

Nvidia is set to release its quarterly earnings report after U.S. markets close this Wednesday, a key event for Wall Street to gauge whether the AI investment boom is still ongoing. Analysts advise the market not to focus solely on the company’s revenue and profits, but also to assess from CEO Jensen Huang’s remarks whether the massive current investment in AI infrastructure can sustain rapid growth. Market expectations for Nvidia’s earnings have been steadily rising. Data shows the chipmaker has beaten analyst earnings estimates in each of the past 14 quarters. In its most recent quarter, Nvidia’s net profit rose 210% year-over-year, well above Wall Street’s prior forecast of 126%. Analysts project the company’s second-quarter revenue will hit a record $92 billion, up from the $78 billion forecast earlier this year. To top current market expectations, Nvidia will need to deliver net profit exceeding $515 billion. However, Nvidia’s stock performance post-earnings follows a notable pattern: in each of the past four quarterly reports, its share price fell on the next trading day. Options markets are currently pricing in a 5.3% price swing for Nvidia’s shares in the session after the earnings release, a larger fluctuation than the average post-earnings move over the past 12 months. Some investors have positioned for a stock pullback, though analysts remain upbeat. Frank Lee, head of tech hardware and semiconductor research at HSBC Global Research, recently lifted Nvidia’s price target from $325 to $360, citing factors including the company’s strategic partnerships with suppliers and its key role in open-source AI.

According to Bitget’s market data, South Korea’s KOSPI index widened its intraday decline to 3%, breaking below the 6700 point mark. Heavyweight stocks SK Hynix fell 2.6%, while Samsung Electronics dropped over 8%. Affected by this, Southern’s 2x leveraged Samsung product plunged more than 17%.