Odaily Planet Daily reports that U.S. Senator Kirsten Gillibrand stated on August 23 that Congress should prohibit the president, his spouse, and senior officials from issuing, launching, or profiting from cryptocurrencies during their terms of office, and called for enforceable ethical prohibitions to be included in the digital asset market structure bill. A survey conducted from August 14 to 17, covering 1,166 U.S. adults, showed that 63% of respondents believed Trump and his family's cryptocurrency profit-making activities were inappropriate, while 32% believed they were appropriate. Trump disclosed in his annual report that his cryptocurrency-related income would exceed $1.4 billion by 2025. The controversy has extended to the Senate's "Clarity Act on Digital Asset Markets." The bill will have its first procedural vote in the Senate on September 15, requiring 60 votes to advance; Gillibrand stated that she would not vote to allow the president to profit from public office with taxpayer support. (Bitcoin.com News)

In the past hour, total liquidations across the network reached $55.97 million, with $47.59 million from long positions, with $8.37 million from short positions. BTC liquidation $5.16 million, ETH liquidation $25.13 million.

According to Odaily Planet Daily, stablecoins are rapidly transforming from "digital dollar reserve tools" into everyday payment methods. Data shows that cryptocurrency card spending has more than tripled in the past year, reaching $1.04 billion in July, with everyday spending such as groceries, ride-hailing, dining, and subscription services becoming the main application scenarios. According to Paymentscan data (cited by venture capital firm a16z), approximately 70% of the more than 10 million cryptocurrency card transactions in July were supported by USD stablecoins. USDC accounted for 50.8% of the transaction volume, while USDT accounted for 20.3%. Compared to a year ago, USDC accounted for approximately 48% and USDT for approximately 7%, further strengthening the dominance of USD stablecoins in cryptocurrency payments. Data shows that by July 2025, the monthly transaction volume of cryptocurrency cards will reach $1.04 billion, with the average transaction amount rising to approximately $86, higher than $59 in the same period last year. Market analysts believe this indicates that stablecoins are gradually integrating into consumers' daily payment systems, moving beyond being tools for cross-border transfers and value storage. In real-world consumption scenarios, stablecoin payments are increasingly covering more aspects of life. Data from the Latin American market shows that users primarily use stablecoins to pay for food, retail, and transportation. In Brazil, Oobit users complete an average of about 20 transactions per month, with grocery purchases accounting for approximately 35% of local activity; in Argentina, 72% of Oobit payments use USDT, with food transactions accounting for 41% of that. (CoinDesk)

According to data from Hyperbot, as reported by Odaily Planet Daily, due to a brief drop in BTC prices, Machi Dage's 40x leveraged Bitcoin long positions were once again completely liquidated, and his overall position value has now fallen below $100 million: 1. A 25x leveraged Ethereum long position holding 30,700 ETH, with a floating profit of approximately $2.053 million; 2. A 10x leveraged HYPE long position holding 250,000 HYPE, with a floating profit of approximately $36,000; 3. A 10x leveraged PUMP long position holding 900,000,000 PUMP, with a floating profit of approximately $46,000.