Clarity and Congress's summer break: State of Crypto

According to The Block, Franklin Templeton has partnered with HashKey Exchange in Hong Kong to launch the Franklin On Chain U.S. Government Liquidity Fund, a tokenized money market fund, on the HashKey Earn channel. The fund invests in U.S. government money market instruments and U.S. dollar cash assets, and is open to professional investors but not to the Hong Kong public. Chetan Karkhanis, Senior Vice President of Customer Relations at Franklin Templeton Digital Assets, expressed his expectation to expand more tokenized products through HashKey's multi jurisdictional platform covering Hong Kong, Singapore, Tokyo, Dubai, and Bermuda.

Franklin Templeton has received no objection from the US Securities and Exchange Commission (SEC) to include the $2.6 billion tokenized fund BENJI in its ETFs and mutual funds as cash management or collateral. The plan still requires approval from the boards of directors of each fund. Franklin Templeton currently manages over 130 ETFs and $82 billion in ETF assets, with mutual fund assets of $790 billion and a tokenized asset market size of $38 billion. （Bitcoin.com News）

According to TradingBeats monitoring, the three storage giants on Hyperliquid have shown in the past 7 days that SKHX has risen from $1180.3 to $1219.6, an increase of about 3.3%; MU decreased from $990.83 to $929.35, a decrease of approximately 6.2%; SNDK dropped from $1726.2 to $1526.1, a decrease of approximately 11.6%. SKHX outperformed SNDK by about 14.9 percentage points during the same period, and the short-term leading indicator of the storage sector shifted from SNDK to SKHX. In the past 30 days, SNDK has risen by about 5.1%, MU has fallen by about 0.9%, and SKHX has fallen by about 0.8%. The MU/SNDK ratio has increased by about 6.1% in the past 7 days, while the MU/SKHX ratio has decreased by about 9.2% during the same period.

OKX has announced the addition of GRASSUSDUM(X-Perp) and PYTHUSDUM(X-Perp) to multiple services, including various trading services, officially launching on 2026-08-25 at 16:00 (UTC+8). Notes: - GRASSUSD X-Perp will launch on August 25, 2026, at 16:00 (UTC+8). - PYTHUSD X-Perp will launch on August 25, 2026, at 16:15 (UTC+8). - X-Perp is a leveraged trading product. Users are advised to fully understand the risks and manage their positions responsibly.

According to The Block, Las Vegas businessman Brent Kovar has been convicted by a jury and faces up to 280 years in prison for his involvement in a $24 million cryptocurrency Ponzi scheme. The US Department of Justice stated that Brent Kovar used investor funds to operate Profit Connect and repaid old investors with new funds under the guise of mining profits.