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Weekly News Recap | Aug 8 – 14 📰 Cooling inflation, institutional crypto adoption, and the continued expansion of on-chain finance shaped the week, while markets and regulators remained active across both traditional and digital assets. 📈 Markets Rally The S&P 500 closed above 7,800 for the first time, while U.S. inflation eased to 3.4% YoY. The softer price data added to expectations around a potential shift in Federal Reserve policy. ⚖️ RedotPay Faces Pressure RedotPay's planned U.S. IPO faces new challenges following a $472.8M lawsuit filed by Binance-linked entities, which allege the company diverted users from Binance. The dispute comes as RedotPay targets a valuation of around $4B. 🏦 JPMorgan Cuts Ties @jpmorgan reportedly ended its banking relationship with Polymarket last year over regulatory concerns, although the two sides have maintained other connections. Polymarket is now reportedly seeking more than $1B in fresh funding at a $20B valuation. 🔐 Ethereum Upgrades Security Ethereum Foundation researcher Justin Drake says the network is moving away from Poseidon toward SHA or BLAKE hashing as part of its broader post-quantum security efforts. 📱 Reddit Joins S&P 500 @Reddit will enter the S&P 500 on August 18, replacing AvalonBay Communities, with shares jumping roughly 11% after hours following the announcement. The inclusion will also bring Reddit into major index-tracking portfolios as funds adjust their holdings ahead of the change. 🪙 Tether Audit Advances @Tether said KPMG U.S. completed an independent audit of its 2025 financial statements, including physical verification of its gold reserves. Tether said its assets exceeded liabilities by $6.814B, although the full audit has yet to be publicly released. 📊 Tokenized Stocks Grow Binance bStocks has become the second-largest tokenized stock issuer with approximately $610.6M in value, overtaking xStocks. @OndoFinance remains in first place at roughly $927M, highlighting the rapid expansion of on-chain exposure to traditional equities. 💰 Fidelity Adds Staking @Fidelity is moving to add staking and quarterly cash distributions to its spot $ETH ETF, which holds nearly $900M in assets. The structure would allow investors to receive staking income while maintaining exposure to the underlying price of $ETH. 🔥 Crypto Finds Revenue Bitwise CIO Matt Hougan says the industry is moving toward a model where protocols generate real revenue and return value through buybacks and burns, pointing to Hyperliquid, Uniswap, and Aave as examples. 🇬🇧 Coinbase Expands Derivatives @coinbase is rolling out perpetuals, dated futures, and crypto options for professional investors in the UK, with more than 170 perpetual contracts covering crypto, commodities, equities, and FX. The offering includes 24/7 trading and leverage of up to 50x. ➡️New post on X⬅️ Website | App |  X  | Chat | Channel