AiCoin Daily Report (August 26)

1. Fed's Logan expects banks to use repurchase tools in September to alleviate liquidity pressure.

Dallas Fed President Logan stated that the Fed still has room to reduce excess reserves and expects banks to utilize the Standing Repo Facility (SRF) to address liquidity pressures around the September tax date and the end of the quarter. She emphasized that this tool can quickly convert U.S. Treasuries into cash, reducing the risk of liquidity shortages while avoiding a continuous expansion of the Fed's balance sheet. -Original text

2. UBS warns that the politicization of the Fed may exacerbate the risk premium on US Treasuries.

UBS Global Wealth Management Chief Economist Paul Donovan stated that the increasing politicization of the Fed could lead to a higher risk premium in the U.S. bond market due to inflation uncertainty. This trend will raise the real cost of borrowing and increase the debt repayment pressure on the U.S. government, thereby compressing fiscal stimulus space and suppressing corporate investment. In addition, this situation could weaken the dollar's status as a reserve currency, but will not completely shake its dominance. Last Friday, Fed Chairman Powell left room for a rate cut in September at the Jackson Hole meeting, but did not clearly propose a mid-term policy framework, nor did he strongly defend the Fed's independence. Meanwhile, President Trump has recently continued to pressure the Fed to take action on interest rate cuts.

3. Trump stated that the United States will assist Europe in resolving the Russia-Ukraine conflict in the form of "backing."

On the 25th local time, U.S. President Trump stated that details regarding how the U.S. will participate in the security support for Ukraine have not yet been discussed, but the U.S. will assist Europe in playing a major role in a "backing" capacity. Trump made these remarks during a media interview at the White House. He said that the conflict between Russia and Ukraine is the "easiest" of several conflicts he intends to resolve. The Russia-Ukraine conflict involves some "serious personality clashes," but the U.S. "will bring this situation to an end." Trump also mentioned that after a series of meetings between U.S., Ukrainian, and European leaders at the White House last week, he had a phone call with Russian President Putin, and both hope to promote "denuclearization." He discussed the topic of reducing U.S. and Russian nuclear arsenals after the end of the Russia-Ukraine conflict during their meeting in Alaska.

4. The UAE is marked as the fourth largest government holder of Bitcoin, with holdings valued at $740 million.

On August 25, Arkham posted on social media that addresses related to the United Arab Emirates have now been marked by the Arkham platform. The UAE's Bitcoin holdings worth $700 million have now been annotated on the Arkham platform. These holdings originate from Citadel's Bitcoin mining operations—this publicly listed mining company is controlled by the Royal Group of the UAE through the International Holding Company (IHC). Arkham stated that the UAE is the fourth largest government entity holding Bitcoin on the platform, with a total BTC holding value of nearly $740 million. Unlike the United States and the United Kingdom, the Bitcoin in the UAE does not come from police asset seizures but is generated through mining operations in collaboration with Citadel. As of now, approximately 9,300 BTC have been mined, and at least around 6,300 BTC are still held. Citadel is 85% owned by 2pointzero, which is 100% owned by IHC. Approximately 61% of IHC's shares are held by the Royal Group of the UAE, which is controlled by Sheikh Tahnoon bin Zayed Al Nahyan, a member of the Abu Dhabi royal family. Through cooperation with Phoenix Group (a publicly listed mining company in the UAE) and the government-owned IHC, Citadel built an 80,000 square meter Bitcoin mining facility on Al Reem Island in Abu Dhabi in 2022 in six months. The satellite delay images from the mining facility construction corroborate the timeline of on-chain mining activities. On-chain transactions between Phoenix Group and Citadel also match the officially disclosed amounts. Phoenix Group has also been marked on the Arkham platform, with its BTC holdings valued at $3.2 million.

5. Arrive AI announced that it will consider Bitcoin as a cash reserve.

Arrive AI announced that it will consider holding Bitcoin as cash reserves and establish a "market-based" financing plan priced in Bitcoin to facilitate fundraising. -Original text

6. ETHZilla approves a $250 million stock buyback plan, holding over 100,000 ETH.

On August 25, the board of directors of ETHZilla Corporation (NASDAQ: ETHZ) approved a stock repurchase plan with a maximum repurchase amount of $250 million, which is effective immediately. Additionally, the company announced that it currently holds a total of 102,237 ETH, with an average acquisition price of $3,948.72, currently valued at approximately $489 million. Besides ETH, ETHZilla also holds around $215 million in cash equivalents.

7. American banks lobby against allowing stablecoins to pay interest.

According to Reuters, U.S. banks are pushing for changes to stablecoin regulations, concerned that related provisions could lead to capital outflows. Bank lobbying groups have warned lawmakers that regulatory loopholes may allow crypto platforms to indirectly pay interest to stablecoin holders. The Genius Act has prohibited stablecoin issuers from paying interest but allows banks to issue stablecoins.

8. The scam service Vanilla Drainer has stolen over 5 million USD in cryptocurrency assets within three weeks.

The blockchain investigation agency Darkbit disclosed that the scam service Vanilla Drainer has stolen at least $5.27 million in cryptocurrency within just three weeks. This service assists fraudsters in executing fund theft by providing phishing software and takes a commission of 15%-20%. Vanilla Drainer has been active since October 2024, and its advertisements claim to be able to bypass the security detection platform Blockaid. On August 5, the largest single theft carried out by the platform resulted in a loss of $3.09 million in stablecoins for the victims, with the scam operators profiting $463,000. The stolen funds are usually converted into ETH or unfreezable DAI, ultimately flowing into a fee wallet that currently holds tokens worth $2.23 million. To evade tracking, Vanilla Drainer frequently changes domain names and generates new contracts for each malicious website. -Original text

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