Investors brace for Powell speech as Bitcoin dips near $112K
Cryptocurrency markets widened their correction as investors took a cautious stance ahead of U.S. Federal Reserve Chair Jerome Powell’s upcoming address at the Jackson Hole Economic Symposium. On Wednesday, Bitcoin tumbled to around $112,565, marking a two-week low last observed on August 3.
The drop reflects growing anxiety among traders who anticipate that Powell’s remarks may significantly influence expectations around interest rate policy leading up to the September Federal Open Market Committee (FOMC) meeting. A potentially hawkish tone could temper hopes for a rate cut, while dovish messaging might reignite risk appetite across financial markets.
Markets are also digesting broader macroeconomic signals that complicate the Fed’s stance. Recent inflation data — including hotter-than-expected producer prices — massaged down optimism for aggressive rate easing, yet softer labor indicators indicate mixed messages as Powell navigates a delicate balancing act.
Amid this uncertainty, crypto ETFs have seen significant outflows. Bitcoin spot ETFs recorded nearly $523 million in redemptions, while overall market sentiment, as tracked by the Crypto Fear & Greed Index, dropped into the “Fear” territory.
However, not all signals were negative — some institutional investors viewed the price dip as a buying opportunity. There were notable inflows into Bitcoin ETFs, especially from BlackRock’s funds, underscoring diverging behaviors between retail traders and larger players.
Technical analysts also point to key support zones around $111,900 on the daily chart, while resistance lies near the $114,500 level. A hawkish Powell speech could cement a downward trend, while dovish signals might help Bitcoin reclaim momentum toward new highs.
In short, the crypto market is caught between caution and opportunism. Powell’s Jackson Hole speech — scheduled for Friday — represents a pivotal moment. If he signals restraint or uncertainty, markets may remain subdued. Conversely, even a hint toward easing could spark a rally. Until then, volatility is likely to persist.
Source: Cointelegraph
Hong Kong’s Ming Shing Group plans $483M Bitcoin bet despite shareholder dilution risks
Hong Kong-based construction company Ming Shing Group Holdings, listed on Nasdaq, announced plans to acquire 4,250 Bitcoin (BTC) worth around $483 million through a complex equity deal. If approved, this would make Ming Shing the largest corporate holder of Bitcoin in Hong Kong, surpassing Buyaa Interactive International, which holds 3,350 BTC.
CEO Wenjin Li framed the move as a strategic diversification. He argued that Bitcoin’s liquidity and growth potential could strengthen the company’s balance sheet at a time when Ming Shing is struggling financially. In 2025, the firm reported a negative profit margin of -3.9% and an operating loss of $5.35 million.
The acquisition is structured not through cash, but via the issuance of convertible bonds and warrants. The 10-year convertible bonds carry a 3% coupon and are priced at $1.20 per share, while the 12-year warrants cover 402.5 million shares at $1.25 per share. Two British Virgin Islands (BVI)-based companies, Winning Mission Group and Rich Plenty Investment, are central to the transaction. Winning Mission will sell the 4,250 BTC in exchange for $241 million worth of bonds and 201 million warrants. Rich Plenty will provide a promissory note covering half of the Bitcoin and receive a similar package.
This deal, however, could result in severe shareholder dilution. Ming Shing currently has fewer than 13 million shares outstanding. If the convertible bonds are exercised (without warrant exercise), the share count could soar to over 415 million, leaving existing shareholders with just 3.1% ownership. In a worst-case scenario, including warrants, options, and accrued interest, outstanding shares could balloon to nearly 939 million, slashing current shareholders’ stake to just ~1.4%. Approval from shareholders is required, as Ming Shing is currently authorized to issue only 100 million shares.
The stock market reacted sharply to the news. Ming Shing’s share price spiked briefly to $2.15 before retreating, and by Thursday morning traded at $1.65, still up 11.5% on the day. This follows a difficult year for the company, with its stock plunging 70.5% year-over-year, including a 44% drop in the last month alone.
The move also underscores Hong Kong’s push to position itself as a hub for digital assets. Local regulators have already approved spot Bitcoin and Ether ETFs, issued new crypto custody guidelines, and proposed stablecoin legislation. State-linked financial institutions, including CMB International Securities, are now offering virtual asset trading services in the city.
Source: Cointelegraph
Kanye West injects $34M into YZY token liquidity pool
On August 21, 2025, Kanye West (Ye) injected 30 million YZY tokens, valued at approximately $34 million, into the liquidity pool of his newly launched meme token, $YZY, on the Solana blockchain.
This infusion serves to establish dynamic price boundaries: YZY begins earning fees at $3.1716, converting into USDC, while full token sales activate at $4.4929. This liquidity design gives the project’s developers considerable control over token price and trades, raising concerns of centralized manipulation.
Since its debut, the $YZY ecosystem — including features like payment tools and spending cards — has drawn attention, but critics point to its concentrated structure. Centralization risks remain high due to opaque control mechanisms and lack of open development.
Market data highlights the token’s high volatility: its market capitalization peaked at $3.2 billion within 40 minutes of launch, only to experience sharp fluctuations shortly after. At the time of writing, trading activity remained elevated, with a staggering 24-hour volume of $947.5 million, a rise of 35,504%, though the market cap held lower at $334 million.
Notably, the market reaction included a playful warning from traders — Arthur Hayes, co-founder of BitMEX, jokingly tweeted: “Pls don’t rug me @kanyewest !!! $YZY for the win … cause bull market.” This sentiment reflects both the hype-driven enthusiasm and underlying skepticism that accompany celebrity-backed token launches.
In summary, Ye’s strategic injection of YZY into its own liquidity pool has materially influenced the token’s price trajectory and market behavior. While it may bolster short-term liquidity, the structure also poses significant risks for retail investors, given the token’s centralized liquidity control and high price sensitivity. As the YZY Money ecosystem evolves, market participants and regulators will likely keep a close eye on its transparency and fairness.
Source: Coincu