Daily Market Wrap | Aug. 13

Hot Topics

• Ether climbs to $4.7k after Trump’s comments and growing Fed rate cut expectations.
• Trump’s tariff exemption on gold bars led to a 2.4% drop in U.S. gold futures to $3,407 and a 1.2% decline in spot gold to $3,357.
• Trump signed an executive order extending the U.S.-China tariff truce by 90 days, preventing tariffs on Chinese goods from escalating.
• U.S. consumer price index rose 0.2% monthly and 2.7% annually in July 2025, below the expected 2.8%.

Market Updates

• OKX will burn 65.26 million $OKB tokens, cap supply at 21 million, and upgrade its smart contract, sparking a 170% price surge to $124.
• Do Kwon pleaded guilty to fraud in the $60B TerraUSD/Luna collapse, facing up to 25 years and $19.3M forfeiture.