Today's Key News Bulletin

1. Terraform Labs co-founder Do Kwon is expected to plead guilty.
Do Kwon, facing fraud charges in the U.S. due to approximately $40 billion in losses caused by the collapse of TerraUSD and Luna, has changed from an initial plea of not guilty to an expected guilty plea today in Manhattan court. The case involves nine counts, including securities fraud, wire fraud, and commodity fraud.

2. GENIUS Act Promotes Large Enterprises to Deploy Stablecoins
The "GENIUS Act" has become the first federal bill on stablecoins in the United States, allowing companies such as Bank of America, Citigroup, Walmart, and Amazon to explore the issuance of dollar-pegged stablecoins. However, experts warn that the implementation process will face technical, strategic, and regulatory challenges, including AML/KYC compliance requirements.

3. Cryptocurrency Payment Goes to Space: Blue Origin Accepts Digital Currency Payments
The space tourism company Blue Origin announced that it will accept cryptocurrency payments such as Bitcoin, Ethereum, Solana, USDT, and USDC, making the booking process for crewed rocket flights more flexible and futuristic.

4. Bitcoin has dropped back to around $118K, with the market awaiting U.S. inflation data.
Bitcoin fell by about 2.3%, with the price dropping to $118,740. Other major cryptocurrencies such as Solana dropped nearly 5% and XRP fell by 3.7%. The market is concerned about the pressure caused by the lack of cooling in U.S. inflation and the decreased likelihood of interest rate cuts by the Federal Reserve.

Overview of today's market and on-chain dynamics

On August 11, a total of 16.7 million XRP, worth approximately $53 million, was transferred between two wallets within Coinbase, attracting market attention, but it has not yet been confirmed whether this is an unusual action.

JasmyCoin (JASMY) has seen an increase in holdings by large investors, with the price rising above $0.016. Whale wallets have begun to accelerate their positioning, and traders are betting that the coin may be brewing for the next round of rebound.

Analysts are optimistic that Bitcoin is about to迎來最後一波強勁行情. Noted analyst Benjamin Cowen believes that Bitcoin's current market cycle may see its final explosive行情, although he has not yet specified a concrete timeframe.