Daily Market Wrap | Aug. 15

Hot Topics

• July 2025 U.S. PPI surged 0.9% monthly and 3.3% annually, exceeding forecasts, causing Bitcoin to drop below $119,000 and Ether to fall 4% to $4,550.
• Chicago Fed's Goolsbee urges waiting a few months for inflation data before cutting rates.
• Treasury Secretary Scott Bessent confirmed the U.S. will explore buying more Bitcoin for its Strategic Reserve.
• U.S. banking groups urge fixes to the GENIUS Act, citing risks from weak stablecoin interest payment rules, while Coinbase’s Paul Grewal denies any loophole.

Market Updates

• Canary Capital registered the Canary Trump Coin ETF in Delaware to track the TRUMP memecoin, pending SEC filing.
• TeraWulf’s shares jumped 50% after a $3.7B AI compute deal with Fluidstack, backed by Google’s $1.8B and 8% stake.
• Coinbase and Mercuryo cut USDC fees by up to 50% for MetaMask users on Base, following Circle’s USDC-native Layer 1 plan.