Expectations of a Federal Reserve interest rate hike next month have edged up.

According to Bitget data, spot gold dipped to $4,600 per ounce, down 1.26% on the day. Spot silver fell more than 1.00% intraday and is currently trading at $67.97 per ounce.

US President Donald Trump stated that the Strait of Hormuz is operating normally, with large volumes of oil flowing out. (Jinshi)

According to a Bloomberg report, the U.S. Securities and Exchange Commission (SEC) on August 25 submitted a new proposal concerning digital asset custody for clients by investment advisors and investment companies to the White House Office of Management and Budget (OMB) for review. The federal regulatory agenda indicates that the proposal aims to "clarify the crypto asset custody framework", addressing how relevant institutions can hold digital assets for clients without violating SEC regulations. The SEC noted that the proposal will also eliminate certain custody requirements that have become "outdated" amid market developments and current shifts in trading and asset holding practices, as part of Chair Paul Atkins’ efforts to modernize the regulatory framework. This move signals that while legislation on crypto market structure remains stalled in the U.S. Senate, American financial regulators are forging ahead with the crypto policy agenda of the Trump administration. The full proposal text will be released only after OMB completes its review; the office may revise the content, after which the proposal will go to a vote by the SEC commission, which currently comprises three Republican members. If approved, the SEC typically will open a public comment period of at least 60 days, followed by revisions and a second vote before the final rule takes effect.

Coinbase Chief Policy Officer Faryar Shirzad published an article pushing back against the American Bankers Association (ABA)’s concerns over stablecoin rewards. She noted that the ABA argues stablecoin platforms offering rewards would trigger deposit outflows from community banks and erode local lending, but existing data does not support this claim. Current laws already permit such rewards, and Coinbase has been paying rewards to USDC users for over four years. Shirzad pointed out that between June 2019 and March 2026, community bank deposits rose by 26%, an increase of roughly $482 billion; a study by Charles River Associates and the U.S. Council of Economic Advisers also found no significant correlation between stablecoins and bank deposits. The ABA is not seeking to amend technical details in the CLARITY Act. The current text prohibits users from earning returns solely on idle funds, but allows rewards for legitimate activities; the ABA’s proposed changes could expand restrictions to general stablecoin use cases, leaving questions such as whether merchant rebates qualify as bank interest to regulators and litigation for resolution. Shirzad called for retaining the existing compromise and passing the CLARITY Act, stating that the legislation would grant banks new powers including custody, staking, lending, payments, clearing, and market making.

US President Donald Trump stated, “I don’t think Iran’s Supreme Leader is dead; he may have been seriously injured.” He also reiterated that the United States’ blockade of the Strait of Hormuz remains in effect. (Jin10)

According to market data from BIT (bit.com), Meta Platforms (META) is up more than 4% in pre-market US stock trading. Court documents show that Meta Platforms has agreed to settle allegations that its platform harmed children. As part of the agreement, Meta will pay up to $166.8 billion to US states.