The information flow is too fast, and in-depth analysis articles can easily be drowned out by trending topics. The "Weekly Editor's Picks" section salvages these content pieces with judgment value from the sea of information, helping you filter out the noise, leaving insights, and bringing inspiration.
Macro Landscape
Warsh's Jackson Hole Debut: Farewell to "Forward Guidance," Forging Fed Discipline Amidst the Intersection of AI and Inflation
At 10 PM Beijing time on August 28th, Fed Chair Kevin Warsh delivered a speech at the Jackson Hole Economic Symposium, marking his first address at this key central banking conference since assuming the role.
In his remarks, Kevin Warsh stated that the "forward guidance" tool from the unconventional period has completed its mission in a normal economic environment and should step aside, with monetary policy needing to return to data-dependence and decision-making discipline.
Facing the era-defining variable of artificial intelligence, he candidly admitted that its profound impact on productivity, the labor market, and the structure of capital returns remains unknown, and the Fed must maintain cautious observation. Simultaneously, he explicitly proposed seven principles guiding policy implementation: anchoring the 2% inflation target, balancing the employment mandate, using the short-term interest rate as the primary tool, paying attention to monetary quantity, and maintaining the restraint and purposefulness of communication. These principles outline a governance philosophy of returning to orthodoxy and avoiding policy function overload.
In his assessment of the situation, he believes the labor market is broadly consistent with full employment, but inflation remains well above target—with core PCE at 3.7% year-on-year, and more than half of the sub-components exceeding 3%. He committed to not predetermining the policy path but clearly stated that the Fed "has more work to do" unless it is confident that inflation is moving towards the target at a clear pace.
$10.5 Trillion Debt Overhang: Can the Fed's Talk Alone Keep Rates Down?
Despite Fed Chair Warsh's insistence on "not providing forward guidance" in his Jackson Hole speech, he triggered market turmoil through the intensive release of signals. However, long-end yields completely erased their declines before the close, as the bond market realized the real pressure came from the supply side.
Current market volatility is primarily a "rate issue" (reaction to the Fed), while the long-term challenge is a "supply issue"—the latter won't disappear due to a few words. Investors should differentiate between the two and pay attention to subsequent developments from the September Fed meeting, the Bank of Japan's decision, and the Treasury's buyback window.
Oil Returns to $90: Why Are Global Markets Trading 'Stagflation' Again?
An energy shock is altering market judgments on inflation and interest rate paths. Weak job openings, construction spending, and manufacturing data originally pointed to economic cooling, but rising prices of crude oil, diesel, and natural gas may push up overall inflation. This presents the Fed with a more challenging mix: weakening growth, yet price pressures not necessarily easing in sync.
Energy prices, interest rate markets, and risk assets are becoming difficult to price separately; if refined product prices remain high, the Fed's policy space may further narrow, and long-end U.S. Treasuries will continue to bear pressure from inflation, fiscal deficits, and AI financing demand.
Option market bets on tail risks for rates have noticeably intensified, but this reflects investor hedging against extreme scenarios, not an indication that rates have definitively entered an accelerated upward phase.
Japanese Government Bond Yield Hits 30-Year High: Global Market Faces "Yen Carry Trade" Unwind Risk
The yield on Japan's 10-year government bond broke through 3% this week, hitting a nearly 30-year high, and the ripple effects are spreading globally.
This breach of a key threshold, coupled with the yen's persistent weakness and heightened expectations for a Bank of Japan rate hike, has sharply increased market concerns about a large-scale unwinding of the "yen carry trade." U.S. Treasury Secretary Besant has publicly warned that disorderly fluctuations in the yen market could trigger forced liquidations, impacting global markets, and ultimately raising borrowing costs for U.S. households and businesses.
Currently, the market has fully priced in a 25 basis point rate hike by the Bank of Japan in September—a pace far more aggressive than the central bank had hinted at earlier in the year.
Also Recommended: "The Fed's 'Quiet' Balance Sheet Expansion: You Think It's QT, But It's Actually Buying T-Bills Like Crazy?"
Investment & Entrepreneurship
Hot Robinhood Chain Hasn't Issued a Token: Which Altcoins Are Benefiting from the Growth?
Uniswap dominates trading volume on Robinhood Chain, with protocol fees driving token burns; Lighter serves as the perpetual contracts gateway for Robinhood Wallet; Morpho is the lending infrastructure behind Robinhood Earn; 10% of Robinhood Chain revenue flows to the Arbitrum ecosystem.
UNI is the biggest beneficiary, LIT second, with MORPHO and ARB seeing weaker effects.
Eight Layers of Assets, Two Types of Logic: A Complete Breakdown of Robinhood Chain's Wealth Effects
Also Recommended: "Extracting $10 Million in 10 Months: Arbitrage Master Publicly Shares New Strategy" and "Machi Big Brother's Token Launch Fails Miserably, Old Whales Lose Their Edge in New Trenches."
CeFi & DeFi
Bitcoin's Biggest Landmine, Defused
A series of recent trades by Strategy appear to be "selling low and buying high," but they temporarily alleviated the STRC depeg and the cash reserve issues it exposed. This also announces that the market's most feared hidden risk has been mitigated for now.
Airdrop Opportunities & Interaction Guides
Popular Interaction Roundup | GTE Opens Early Pre-registration Tasks; BitRobot Launches Points System (September 1st)
Meme
Robinhood Chain Sees Another $100M+ Golden Dog, Stock-Paired Memes Feedback into RWA
AI is the leading stock-paired Meme coin, paired with the Nvidia stock token NVDA on Robinhood Chain. Over the past month, the AI community treasury has formed, using creator fees and 50% of trading fees for buybacks and burns of the token's circulating supply. Currently, 0.82% of the token supply has been burned.
The Meme coin AI's explosive popularity also benefits from the empowerment of its underlying token issuance platform, LONG, which even airdropped stock token NVDA to early AI holders. LONG is a Meme coin issuance platform within the Robinhood Chain ecosystem, becoming a top Meme launchpad on Robinhood Chain through its new "stock-paired" Meme issuance playbook.
Buying stock-paired Meme coins is essentially making a double bet: wagering that the Meme coin will outperform the stock, while also betting on the dollar price fluctuations of that stock. There is no 1:1 redemption relationship between the Meme coin and the anchored stock token; the stock token is merely the quote asset in the liquidity pool, not collateral for the Meme coin. Stock-pairing provides no value backing for the issued Meme coin.
Another significant meaning of stock-paired Meme coins lies in expanding the utility of stock tokens. Increased Meme trading driving stock token volume is a development Robinhood hopes to see.
Three Ways to Approach Meme-Stock Pairs on Robinhood Chain
"Alternative assets" on Robinhood Chain: stock tokens, stock Meme coins, Launchpad platform tokens, lending assets; LP category: Meme coin liquidity pools, stock token liquidity pools, leveraged stock liquidity pools; Coin-stock linkage category: Meme coin reverse short squeezes, underlying stock propelling Meme coins.
Why Is the Short Squeeze Myth of Stock-Paired Meme Coins Doomed to Fail?
The core problem with the short squeeze strategy is the disparity in scale, and controlling stock tokens does not equal controlling the actual stock.
If token scarcity pushes the on-chain HIMS price far above the real stock price, Robinhood's authorized participants can mint new stock tokens to arbitrage the price difference. Minting new tokens does require purchasing additional real stock as underlying backing, so issuance would bring some buy-side pressure to the underlying stock. However, hoarding existing tokens itself does not force the purchase of an equivalent amount of HIMS underlying shares. Its primary result is incentivizing the platform to issue more stock tokens, expanding the token supply and pulling the on-chain token price back towards the real stock price.
To achieve the legendary short squeeze, more sophisticated TEQ (tokenized equities) are needed.
Witnessing the birth of an entirely new narrative is fascinating. Opportunities for speculative profit certainly exist here, but more importantly, a vast array of unprecedented financial mechanism designs will emerge in the future.
Complementary Reading: "JINQIAN Hits Zero in Two Hours, 'Stock-Pairing' Becomes Customized 'Pig Slaughtering'".
Where to Form Stock Token LPs? A Quick Look at Robinhood Chain's Five Emerging AMMs
up.: 100% of protocol revenue returned to token holders; Fables: Points program launched, TGE in October; RAMSES: Renowned Arbitrum AMM arrives; Delta: Automatically converts protocol fees into liquidity; Ekubo: Starknet veteran project fails its "gold-plating."
Eight Meme Coins Speed Through $10M Market Cap, What Do Robinhood Chain's Golden Dogs Have in Common?
New narratives woven from "tech hotspots, celebrity movements, company memes, market sentiment."
No Time to Sit Idle On-Chain, Which Robinhood Chain Assets Offer a Second Chance?
PONS: Platform daily revenue nears $1 million; HMM: Turns trader hesitation into a "Thinking Cat"; DELTA: Provides liquidity management tools for Robinhood Chain; microduck: Ties the open-source Robotic Duck to the Nvidia stock narrative; YOLO: Brings WallStreetBets' "YOLO" culture to Robinhood Chain; AI: Stock-paired Meme with Nvidia stock; BONER: Turns a men's health stock into the most direct adult meme; SPACEHOOD: Stock-paired Meme betting on SpaceX hype.
Platform Daily Revenue Nearly $1M, Can PONS, Up 5x in a Week, Keep Soaring?
The enthusiasm of "Pons-traders" for Meme coins on Robinhood Chain remains high, with the launchpad Pons' platform token PONS experiencing another surge. This is inseparable from the rapid growth in token issuance volume and trading share on the Pons platform on Robinhood Chain.
Pons has formed a positive flywheel: more token launches → higher revenue → stronger buybacks.
To judge whether PONS can continue rising and for how long, focus on these three points: how long can this round of Meme hype on Robinhood Chain last; can Pons maintain its position as the leading launchpad; for PONS market cap to rise further to $500M, $1B, perhaps a truly breakout Meme coin needs to emerge.
Buying a Nasdaq-Listed Company for $1.8 Million, Then Using a Meme Coin to Engineer a Short Squeeze
If on-chain demand can truly be translated into underlying stock buy pressure through the minting and collateral mechanisms of stock tokens, then what's born on Robinhood Chain isn't just a batch of new Meme coins. It could be a brand-new capital machine connecting crypto attention with Nasdaq small-cap stocks.
Also Recommended: "A Practical FOMO Guide: From Finding People to Finding Coins, How to Play Social Trading?".
Ethereum & Scaling
ETF & Staking Jointly Tighten Supply, Is ETH Brewing a New Rally?
U.S. spot Ethereum ETF net inflows approached $700 million in a single week, approximately 4.2 million ETH entered staking, exchange balances fell about 15% compared to early June, and corporate treasuries continue to accumulate. These forces combined are squeezing the amount of ETH available for immediate sale.
ETH's circulating supply has tightened significantly since June; new funds entering a thinner market could produce greater price elasticity.
The market now needs confirmation: can institutional inflows persist; can ETH/BTC hold onto its rebound gains; and will staking and corporate holdings continue to absorb new supply.
New Ecosystems
HIP-4 Battle Ignites: Who Will Become the New trade.xyz?
The launch of Outcome, a prediction market project within the Hyperliquid ecosystem, signifies Hyperliquid officially firing the first shot of HIP-4's permissionless deployment era, and marks the expansion of Hyperliquid into the prediction market track entering the Builder era.
Teams like Unit, Skew, and trade.xyz have also expressed interest or begun deploying on HIP-4. A battle for Hyperliquid's prediction market gateway, liquidity, and users is now underway.
Also Recommended: "Solana On-Chain Governance New Era: Deflation Power Significantly Increased, Burn Proposal Surprisingly Shelved."
Weekly Hot Topics Recap
Policy & Macro Markets
U.S.-Iran Conflict Resumes (Reasons and Impact);
Trump Again Urges Fed to Cut Rates, Boldly Claims U.S. GDP Can Grow 20%;
Former Fed Vice Chair: The Default Choice Now Is a Rate Hike, Warsh's Speech Reverses Fed's Previous Logic;
Views & Voices
Jensen Huang: AI Driving Manufacturing Back to the U.S., AI Startups Received $400B Investment in Past Six Months;
"White-Haired Stock God" Serenity: Nvidia's Bet on MediaTek Could Be Picking the Next ASIC King;
Elon Musk: Google and Anthropic Are Renting AI Compute from SpaceX;
Arthur Hayes: Euro/Yen Collapse Imminent, This Is the Final Piece for Crypto Bull Market Restart;
Jiang Zhuo'er: Bitcoin Faces First Test Since 8/19, Has Sold 50% of ETH Spot Holdings; Has Sold All BTC Holdings at $82,050, Watching $70k-$72k Next;
Bitcoin Could Fall to $50k This Fall, Under Dual Pressure from Rate Hike Expectations and Stalled CLARITY Act;
Crypto Trader Rune Again Clarifies Tweet About Acquiring Public Company Was Generated by Claude, Numbers Were Fabricated and Exaggerated;
Institutions, Major Companies & Top Projects
OpenAI Releases GPT-6 Astra Model, Suggests It May Be Approaching AGI;
Kimi Parent Company Moonshot AI Initiates Hong Kong IPO, Aims to Raise Funds at $50B Valuation;
Nearly 30% of Assets Among South Korea's Top 5 Exchanges Tradable on Only One, "Exit Difficulty" Risk Emerges;
Bitcoin Kimchi Premium Reappears in South Korean Market, Positive for a Week Straight, Longest Streak Since May;
Data
Meme Coin Trading "Steals the Show," Robinhood Chain Single-Day Revenue Surpasses Ethereum;
Pons Plans to Expand Stock Tokens, Cumulative Creator Trading Fee Revenue Exceeds $25 Million;
Security
Abnormal Password Reset Emails Affect Thousands of X Users, Multiple Crypto Industry Accounts Receive Requests;
After Cronos Ecosystem's Largest Lending Protocol Tectonic Hacked, Cronos's Rollback Operation Raises Centralization Concerns Again;
Losses ~$455k, Sui Ecosystem DeFi Protocol Full Sail Decides to Wind Down Operations......
Attached: Portal to the "Weekly Editor's Picks" Series. See you next issue~
