Data: Web3 social application Towns has over 400,000 total users, with over 200,000 token holders

As industry giants begin to accept compute power as a tradable asset, the U.S. Commodity Futures Trading Commission (CFTC) is seeking public comments on compute power futures contracts. Multiple exchanges, including CME Group (CME), Intercontinental Exchange (ICE), and emerging fintech firm Architect Financial Technologies, have announced plans to launch such contracts once regulatory approval is secured. These exchanges argue that establishing a compute power futures market would help end-users and speculators hedge against risks like energy shortages or other issues that could hinder technological progress for AI developers. CFTC Chair Michael Selig said in a Wednesday statement: "Without a robust compute power derivatives market, the U.S. cannot win the AI race. This public comment period is the first step toward establishing clear rules for the U.S. compute power market." One of the issues covered in the CFTC’s public comment process is how compute power futures differ from other derivatives or underlying commodities already regulated by the agency. If compute power futures are permitted to list on CFTC-regulated exchanges, further standardization of variables affecting compute power prices may be required, including price indices used for settlement reference and other related factors.

According to market data from BIT (Bit.com), U.S. stocks closed on Wednesday: the Dow Jones Industrial Average initially rose 0.22%, the S&P 500 gained 0.21%, and the Nasdaq advanced 0.16%. Moderna (MRNA.O) surged 176.9%, while Merck (MRK.N) climbed 12.6%. Moderna and Merck announced that their jointly developed personalized mRNA cancer vaccine intismeran autogene (formerly mRNA-4157/V940), in combination with Merck’s immunotherapy drug Keytruda (pembrolizumab), met both the primary endpoint and key secondary endpoints in the Phase III clinical trial (INTerpath-001) for patients with high-risk melanoma (skin cancer). Marvell Technology (MRVL.O) rose over 9.8%, SK Hynix (SKHY.O) gained 0.35%, SanDisk (SNDK.O) fell 3.5%, and Micron Technology (MU.O) dropped 0.39%. In terms of crypto-related stocks: Strategy’s share price rose 11.95% to $103.58, having surged more than 13% intraday; Coinbase climbed 9.05% to $159.47; stablecoin issuer Circle increased 9.44% to $78.50; and Ethereum reserve firm BitMine gained 9.68% to $20.05.

U.S. President Donald Trump met with executives from crypto and fintech firms including Coinbase, Ripple, Robinhood, Gemini, and Chainlink at the White House’s Roosevelt Room on Wednesday local time, delivering a speech in support of cryptocurrencies. Trump said his administration has “completely ended the war on cryptocurrencies,” noting the industry is thriving, and the U.S. must retain its “undisputed leadership” in areas such as Bitcoin, cryptocurrencies, prediction markets, and artificial intelligence, while committing to becoming the “world’s crypto capital.” He added that the U.S. government has discussed accumulating “significant quantities” of Bitcoin and other cryptocurrencies, claiming crypto assets “have greatly eased pressure on the U.S. dollar.” Meanwhile, he urged Congress to pass a “fair version” of the Clarity Act (Digital Asset Market Clarity Act) promptly, arguing this would keep the U.S. ahead of China and other countries. Trump also noted that the SEC Chair is working to bring Hyperliquid to the U.S. market in a compliant manner, and highlighted policy achievements including the signed Genius Act (stablecoin legislation), strategic Bitcoin reserves, and the ban on central bank digital currencies (CBDCs).

Prediction market platform Kalshi has submitted an application to the U.S. Commodity Futures Trading Commission (CFTC) to launch copper price-linked perpetual futures contracts. According to an August 18 filing, the proposed COPPERPERP contract will track copper spot prices priced in U.S. dollars per pound, utilizing price data from blockchain data service provider Pyth Network. The contract will be cash-settled with no physical copper delivery involved. Unlike traditional futures, perpetual futures have no expiration date, enabling traders to hold positions long-term without rolling over, and maintain price alignment with the spot market via a periodic funding rate mechanism between long and short parties. This application signals Kalshi’s further expansion beyond the bounds of traditional event prediction markets into the commodities and financial derivatives space. Earlier this May, Kalshi secured CFTC approval to launch bitcoin perpetual futures. Additionally, the firm has recently submitted applications for stock index perpetual futures. Copper, a critical raw material for infrastructure including power grids, construction, electric vehicles, electronic devices, and AI data centers, is already widely traded on exchanges such as CME COMEX, London Metal Exchange (LME), and Shanghai Futures Exchange.

U.S. President Trump met with executives from crypto firms including Coinbase, Kraken, Ripple, and Chainlink at the White House on Wednesday, urging Congress to pass the CLARITY Act. However, the meeting also renewed outside scrutiny over Trump and his family’s massive wealth derived from the crypto industry. According to financial disclosure documents, Trump earned over $1.4 billion in 2025 from crypto-related businesses, including his personal token project, the family’s crypto venture World Liberty Financial (WLF), and stablecoin-related transactions. This income exceeds the total earnings from his traditional real estate and licensing businesses. During the White House meeting, Trump stated that the CLARITY Act would help the U.S. establish a clearer regulatory framework for digital assets and maintain its leadership in crypto innovation, calling the bill a "gateway to the next wave of innovation." However, while Trump advances crypto-friendly policies, his growing personal wealth has drawn scrutiny from Democratic lawmakers and some regulators. Critics argue there is a potential conflict of interest between the Trump family’s crypto business interests and the government’s rulemaking for the sector; the White House has denied the allegations, stating Trump’s policy goal is to position the U.S. as a global crypto hub. During the meeting, Trump also said U.S. regulators are working to bring decentralized perpetual contract trading platform Hyperliquid to the U.S. market in a "fully compliant" manner.

US President Donald Trump once again criticized the Federal Reserve’s interest rate policy on Wednesday, stating that amid positive economic data, the central bank should not block interest rate cuts, and that the US should pay “much lower” interest rates. Trump said Federal Reserve Chair Kevin Warsh is “doing a good job,” but criticized the Federal Reserve Board for having “political factors,” noting that some members were appointed by Obama, Biden, and himself, and may support keeping rates high for political reasons. He added that in the past, improving economic data typically led to lower interest rates, but now “the better the data, the higher the rates instead.” Trump argued that interest rate cuts would not only boost economic growth, but also reduce financing pressure on the US’s nearly $40 trillion debt. However, the Federal Reserve has not raised rates since 2023, and launched a rate-cut cycle in the second half of 2025, cutting rates six times in total. The minutes of the Fed’s July meeting showed that most officials believe that if inflation fails to cool further, it may still be necessary to maintain high rates in the future. Trump also complained that US interest rates are higher than those of some overseas economies, citing Switzerland’s benchmark rate of around 0.5% as an example, calling the US’s current rate of about 3.5% “unreasonable.” On the same day, the US Treasury Department announced an expansion of its long-term Treasury bond repurchase operations, at least doubling the scale of its 10-year to 30-year Treasury bond repurchases from $2 billion per operation to $4 billion, to boost liquidity in the long-term bond market. Markets view the move as helpful in easing recent upward pressure on US Treasury yields.