Weekly Update: 22nd of August
What happened between the 15th and 22nd of August?
- Markets correct after higher-than-expected PPI and conservative positioning by investors ahead of Jackson Hole, where Jerome Powell will deliver his speech. Read more
- Amdax introduces Bitcoin treasury company AMBTS, aiming to accumulate 1 percent of all Bitcoin and achieve a listing on Euronext. Read more
- Wyoming launches FRNT, the first state-issued stablecoin, while MetaMask introduces yield-focused mUSD, both carrying institutional implications. Read more
- Adoption continues with Bitcoin Lightning integration at U.S. bank SoFi and the XRP Ledger being deployed by Nasdaq-listed company Wellgistics. Read more
Market corrects due to High PPI and Jackson Hole
The US Producer Price Index (PPI) unexpectedly rose 0.9 percent in July, the highest monthly increase since mid-2022. This significantly lowered expectations for an imminent interest rate cut by the Federal Reserve. In response, equity and crypto markets declined, with Bitcoin dropping below 113,000 dollars amid widespread liquidation of long positions.
Investor focus now shifts to the Jackson Hole Economic Symposium, where Fed Chair Jerome Powell is expected to outline his views on monetary policy and inflation expectations. His remarks are likely to set the tone for Q4 market sentiment. The combined effects of rising producer prices and uncertain central bank guidance create a macroeconomic environment filled with risks and strategic opportunities for institutional investors reassessing asset allocation.
Amdax launches AMBTS, a Dutch Bitcoin Treasury Company
Amdax has launched AMBTS, the Netherlands’ first dedicated Bitcoin treasury company, with plans to secure a listing on Euronext Amsterdam. The firm aims to accumulate 1 percent of the total Bitcoin supply, approximately 210,000 BTC, through phased capital raises. According to CEO Lucas Wensing, over 10 percent of all Bitcoin is currently held by institutional and government entities.
AMBTS is positioned as a compliant gateway for professional asset managers operating under the MiCA framework. With its combination of transparency, regulatory clarity and large-scale ambition, AMBTS offers a strategic vehicle for digital reserve allocation. Amdax sets a new benchmark for integrating crypto into European capital markets.
New stablecoins by US state Wyoming and Metamask
The state of Wyoming has launched the Frontier Stable Token, the first state-issued stablecoin in the United States. FRNT is fully backed by US dollars and short-term Treasuries with a required 2 percent overcollateralization. It is available on seven blockchains including Ethereum, Solana and Avalanche.
Meanwhile, MetaMask announced the upcoming release of its own stablecoin, mUSD, focused on yield generation and user retention. These developments reflect the institutionalization of stablecoins. Wyoming offers a public-sector payment infrastructure, while MetaMask provides a private, yield-oriented solution. Institutional investors now have access to a broader range of stablecoin instruments to manage liquidity and enhance yield strategies.
SoFi Launches Bitcoin Lightning, XRP Active in 6500 Pharmacies
Institutional adoption of crypto continues to advance. SoFi, a publicly listed financial service provider, has integrated the Bitcoin Lightning Network into its international payments infrastructure. This enables faster and cheaper cross-border transactions.
Simultaneously, Wellgistics, a Nasdaq-listed pharmaceutical distributor, has implemented the XRP Ledger as a payment system for 6500 pharmacies across the United States. These deployments mark a shift in crypto's role from speculative assets to operational payment infrastructure. For institutional actors and treasury managers, these developments offer concrete examples of blockchain integration into legacy workflows, with implications for efficiency, compliance and cost optimization.
In other digital assets news
- Stablecoin issuer Tether appoints Trump adviser Bo Hines as strategic advisor.
- Rapper Kanye West launches his own cryptocurrency, which collapses within hours amid speculation of insider trading.
- The U.S. Federal Reserve announced it will terminate its “novel activities” oversight program that monitored banks and their crypto-related activities.
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