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-c