Daily News: Ant Digital's Jovay Blockchain Set for September Launch, Trump Greenlights 401(k) Crypto Investments, Vitalik Warns Against ETH Reserve Over-Leverage, and More

Trump Announces Reciprocal Tariffs to Take Effect at Midnight UTC, Billions to Flow into the U.S.

Trump states that reciprocal tariffs will take effect at midnight UTC tonight, allowing billions of dollars to start flowing into the U.S., primarily from countries that have taken advantage of the U.S. for years. He further asserts that the only obstacle to America's greatness is a radical left-wing court that wants to see the nation fail.

Trump to Sign Executive Order Allowing 401(k) Investments in Cryptocurrency and Other Alternative Assets

Trump announces plans to sign an executive order aimed at easing restrictions on 401(k) retirement account investments. According to Bloomberg, the order will direct the Department of Labor to reassess guidelines under the Employee Retirement Income Security Act, enabling alternative assets such as private equity, real estate, and cryptocurrencies to be included in the $12.5 trillion retirement account system. Additionally, the Department of Labor will provide explicit fiduciary rules for fund management involving alternative assets.

Trump Announces Nomination of Stephen Miran as Federal Reserve Governor in Early Morning Statement

Trump announces the nomination of Stephen Miran, current Chairman of the Council of Economic Advisers, to fill a recently vacated seat on the Federal Reserve Board of Governors, with a term ending on January 31, 2026. Simultaneously, efforts to identify a long-term replacement for the Federal Reserve position will continue. Stephen Miran, who holds a Ph.D. in Economics from Harvard University, excelled during Trump’s first administration and has been a close advisor since the start of his second term. Trump praises Miran's unparalleled expertise in economics and expresses confidence in his outstanding performance. Congratulations to Stephen Miran.

Vitalik Expresses Support for Ethereum Reserve Companies While Warning of Over-Leverage Risks

Vitalik Buterin, co-founder of Ethereum, expresses support for the development of Ethereum reserve companies, viewing it as a way to expand the investor base for ETH. However, he also warns of the risks associated with excessive leverage. Vitalik emphasizes the importance of preventing reserve companies from turning into overly leveraged entities, as this could lead to forced liquidations triggered by price declines, resulting in a chain reaction of token price crashes and reputational damage.

Pump.fun Announces Formation of Glass Full Foundation to Inject Liquidity into Ecosystem Tokens

Pump.fun announces this morning the establishment of the Glass Full Foundation, aimed at accelerating the growth of the most vibrant and promising communities within the Pump.fun ecosystem. The foundation will inject substantial liquidity into ecosystem tokens and has already provided initial support to several projects, with plans for continued funding deployment.

Chainlink to Establish Strategic LINK Token Reserve Using Protocol Revenue

Chainlink Foundation announces the launch of the Chainlink Reserve Program, designed to build a strategic reserve of LINK tokens through both on-chain and off-chain revenue. The reserve has initially accumulated over $1 million worth of LINK tokens and will leverage the Payment Abstraction mechanism to automatically convert enterprise service revenue and on-chain service fees into LINK tokens. The foundation confirms that no withdrawals from the reserve will be made in the coming years.

Ripple Plans $200 Million Acquisition of Stablecoin Platform Rail

Ripple announces plans to acquire stablecoin platform Rail for $200 million. The move aims to strengthen Ripple's position in the stablecoin sector and expand its ecosystem.

Ant Digital: Self-Developed Blockchain Jovay Expected to Launch on Mainnet in September, No Token Issuance Planned

Ant Group's Vice President and Head of Blockchain Business at Ant Digital, Bian Zhuoqun, reveals that the company’s self-developed blockchain Jovay is scheduled to officially launch on the mainnet by late September 2025. Jovay is designed to handle real transactions and was introduced on April 30 as a Layer-2 blockchain. Ant Digital has explicitly stated that Jovay is a compliance-focused, institution-grade blockchain and will not issue any tokens.

Bian emphasizes Ant Digital's commitment to becoming a gateway connecting Web2 and Web3, aiming to provide more trusted assets for Web3 while introducing more compliant capital into Web2. Citing data projections, she predicts the global tokenization market size could reach $16 trillion by 2030. Currently, Ant Digital is expanding its RWA footprint across sectors such as renewable energy, computing power, and finance.

Bit Digital's Subsidiary WhiteFiber Completes IPO, Raising $159.4 Million

Bit Digital's subsidiary WhiteFiber successfully completes its initial public offering on August 7, issuing 9.4 million common shares at a price of $17 per share, which reached the upper limit of the market pricing range. The IPO raised a total of $159.4 million.

Nasdaq-Listed Fundamental Global Plans to Raise Up to $5 Billion, Primarily for Ethereum Acquisition

Fundamental Global Inc. (Nasdaq: FGI) submits an S-3 registration statement to the U.S. SEC, proposing to issue up to $5 billion in securities in phases. The company plans to allocate the majority of net proceeds from the issuance of common stock to acquire Ethereum, with the remaining funds directed toward working capital needs, general corporate purposes, and operational expenses.