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Edition · 2026-08-20
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Brent crude rose above $90 a barrel for the first time since July 30, trading at $91.63 on Tuesday, after the two‑month window for a US‑Iran cease‑fire expired without a resolution and as President Donald Trump warned that Oman could be bombed if it impeded his efforts.
Trump, speaking on Fox News, said Iran should "put up the white flag of surrender" and repeated a threat to strike Oman, stating he was "not in a hurry" to reach a deal.
Iran indicated it would take a more aggressive stance if negotiations failed, and a military spokesperson warned that ships attempting to pass through the Strait of Hormuz could encounter damage.
Angeline Ong of IG noted that the threat to Oman could shift market pricing from a temporary disruption to a longer‑term risk, given that about a quarter of global seaborne oil passes through the strait.
Just six commodity ships transited the strait on Monday, compared with five over the weekend, according to Kpler, while a cargo vessel was reported to have been attacked early Tuesday.
Deutsche Bank analysts said the price increase reflects investors pricing in a more extended closure of the strait.
Alpine Macro strategist Dan Alamariu warned that continued conflict in the Middle East, together with Russia's war in Ukraine, could create a "double whammy" for energy prices.
Energy prices and volatility are likely to remain elevated if fighting persists, with potential spikes during any escalation through the autumn months.
The situation remains unresolved, and oil market participants are watching for further diplomatic developments or additional disruptions in the region.
Senator Ruben Gallego said that a rushed cloture vote on the CLARITY Act could undermine bipartisan negotiations on the broader U.S. crypto market structure bill. The Senate has scheduled a procedural cloture vote for September 15, which requires 60 votes to proceed. Gallego, speaking at the SALT Wyoming Blockchain Symposium, urged the industry to support continued talks rather than demand an immediate floor vote. He noted that the White House has not responded in detail to bipartisan ethics language submitted before the August recess.
The cloture vote will determine whether the Senate begins formal consideration of H.R. 3633. A successful vote would allow the Senate to debate the bill and consider amendments, while a failure could stall the process as the calendar narrows before the November midterm elections. Lawmakers continue to dispute ethics provisions, stablecoin reward structures, and the jurisdiction of the Agriculture Committee over the Commodity Futures Trading Commission. Gallego and Republican Senator Thom Tillis sent joint ethics language to the administration, but no point‑by‑point response has been provided.
Banks and crypto firms remain divided over whether platforms should offer rewards tied to stablecoin balances. Banks argue that such rewards could divert deposits from regulated lenders, while crypto companies say restrictions would limit consumer choice and protect banks from competition. In addition, the Senate Banking Committee advanced its version of the bill 15 to 9 in May, with Gallego and Senator Angela Alsobrooks joining Republican votes. Gallego said his support does not guarantee a vote for the final text without changes.
If cloture fails, Senate leaders may resume negotiations and attempt another procedural vote, though the limited timeframe could make further action difficult. If cloture succeeds, the Senate must reconcile any amendments with the House version, which passed 294 to 134 in July 2025, before sending the legislation to President Trump. The outcome of the September 15 vote will hinge on whether negotiators can resolve ethics and stablecoin issues before the procedural hurdle.
President Donald Trump called on Congress on Aug. 19 to pass a version of the Digital Asset Market Clarity Act that would establish federal oversight of digital assets and set rules for exchanges, brokers and custodians. The House approved its version of the bill by a 294–134 vote in July 2025, and the Senate Banking Committee cleared it before the August recess. The Senate requires 60 votes to overcome a filibuster, and Republicans hold 53 seats, so bipartisan support is needed. Polling from Polymarket and Galaxy Digital showed the bill’s probability of passage falling below 20% and 10% respectively by mid‑August. The legislation would divide oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission, create legal categories for digital assets, and require registration for exchanges, brokers and custodians while mandating asset segregation and disclosure. Negotiations remain divided over ethics restrictions for senior officials with crypto holdings, treatment of decentralized finance protocols, and reward structures for stablecoins. At the White House event, Trump said the legislation would keep the United States ahead of China and support future innovation, and described the proposal as bipartisan. Coinbase CEO Brian Armstrong told attendees that enacting the act would make the administration’s crypto policy durable and could last for decades. SEC Chairman Paul Atkins said the agency’s latest crypto proposal supports congressional action by providing certainty for capital raising, but the SEC cannot rewrite the statutory division between securities and commodities oversight. The SEC proposal includes two investment‑contract fundraising exemptions — up to $5 million over four years and up to $75 million within 12 months — and requires disclosure and offers a safe‑harbor provision, with a 60‑day comment period. Treasury’s GENIUS Act, signed by Trump in July 2025, adds stablecoin rules on federal or state authorization, reserve requirements, redemption, compliance and disclosure. CFTC’s first Innovation Advisory Committee meeting took place on Aug. 20, with executives from Coinbase, Ripple, Kraken and other firms, as well as representatives from prediction market and AI companies. The committee advises the CFTC but cannot adopt regulations, and public comments on the meeting are due by Aug. 27. The bill’s fate remains uncertain as the Senate reconvenes in September, with the 60‑vote threshold and ongoing disputes over ethics provisions and DeFi treatment leaving the timeline open.
The Shenzhen Intermediate People’s Court sentenced Hui Ka Yan, the founder of Evergrande Group, to life in prison and ordered the confiscation of his personal property.
By · 64d ago · Source: bbc
The Shenzhen Intermediate People’s Court sentenced Hui Ka Yan, the founder of Evergrande Group, to life in prison and ordered the confiscation of his personal property. The court also fined Evergrande Group 8.82 billion yuan and ordered its real estate unit to pay 7 billion yuan, according to state media.
Evergrande, once China’s largest real estate developer with a market valuation exceeding $50 billion, collapsed in 2021 after Beijing imposed debt‑control measures that limited borrowing and forced the company to sell properties at steep discounts. The court heard that the firm had diverted millions of dollars of pre‑sale homebuyer funds to other projects, leaving hundreds of homes unfinished.
Hui rose from a rural background, built Evergrande in 1996, and expanded aggressively using substantial debt, making the firm the country’s biggest property developer before its downfall. Analysts say the company’s failure has weighed on China’s property market and on domestic banks that hold large exposures to its loans.
The sentence represents a prominent development in the aftermath of Evergrande’s collapse, which remains a drag on the Chinese economy.
Bearish crypto positions lost a record $2.7 billion in 24 hours as Bitcoin rose toward $70,000, marking the largest forced short closures since 2021, according to CoinGlass. The liquidations involved roughly 172,000 traders and total crypto liquidations reached nearly $3 billion, with shorts accounting for about 92 % of the wipeouts and outnumbering long liquidations by more than ten to one. Bitcoin traded above $69,100 in Asian morning, up almost 8 % in the past 24 hours after briefly touching $69,900, a gain of more than $5,700 from the previous low near $64,100. The short squeeze closed more than $1 billion of shorts in about an hour and $1.42 billion for the day, including $1.13 billion in ether and $104.7 million in solana. The largest single position liquidated was a $48.8 million bitcoin trade on Hyperliquid. The figures may be understated because Binance limited its liquidation reporting in April 2021 and CoinGlass records only one order per second from the exchange, potentially obscuring the true volume, according to the data provider. Analysts noted that the rapid unwind, driven by forced buying rather than sustained demand, could see price support wane as traders reassess positions.
President Donald Trump urged Congress on Wednesday to advance a version of the Digital Asset Market Clarity Act during a White House event with crypto industry executives.
The Digital Asset Market Clarity Act has been stalled in the Senate since its introduction, with key provisions still under discussion and requiring 60 votes for passage.
Trump was joined by executives from Coinbase, Gemini, Ripple, Chainlink Labs, Kraken, Anchorage Digital, Grayscale and OKX, as well as leaders from prediction market platforms and artificial intelligence firms. He said the legislation would keep the United States ahead of China and would open the door to further innovation, according to his remarks. The president noted that only minor adjustments might be needed and that a small group of senators needed to be engaged to achieve consensus.
The meeting was scheduled ahead of a planned Innovation Advisory Committee session at the Commodity Futures Trading Commission on Thursday, where the committee includes executives from the same companies.
Trump met with the executives in the Oval Office, and Chainlink Labs CEO Sergey Nazarov said the administration considered the bill feasible and identified only a few small issues.
The bill faces a final Senate voting window next month before the chamber recessed ahead of the November elections, and it has yet to secure the 60 votes required for passage.
Senate Democrats have proposed ethics limits on Trump's crypto involvement and on the business relationships of other senior officials, adding a layer of disagreement over the legislation's final language.
SEC Chairman Paul Atkins said the agency's new crypto assets rule depends on congressional action to provide legal certainty for market participants, and he urged that the Clarity Act be sent to the president for signature.
Coinbase CEO Brian Armstrong described the act as a bipartisan compromise that could make recent regulatory moves durable for decades, while emphasizing the need for broad support.
Analysts say the bill's prospects remain uncertain, as it must garner sufficient bipartisan backing before the upcoming Senate vote.
The legislation is set for a final Senate vote next month, but whether it will achieve the votes needed for passage is still undetermined.
President Donald Trump urged Congress on Wednesday to pass the Digital Asset Market Clarity (CLARITY) Act, a market structure bill that cleared the House in July 2025 while the Senate remains in recess, according to remarks made at a press conference with Coinbase CEO Brian Armstrong and Gemini co‑founders Cameron and Tyler Winklevoss. He said the legislation would keep the United States ahead of China and noted bipartisan support among Democrats. The CLARITY Act passed the House of Representatives in July 2025 but has remained stalled in the Senate for several months due to concerns about tokenized equities, stablecoin rewards, and potential conflicts of interest involving the Trump family, according to statements from Senate officials and industry observers. Armstrong, speaking after Trump and the regulatory officials, said the bill would create durable crypto policy that could survive for decades, and he suggested it might secure more than 60 votes once the Senate addresses a cloture motion scheduled for September 15. Trump followed by saying that the bill reflects a fair approach and that many Democrats support it, according to his remarks. Senator Ruben Gallego, speaking at the Wyoming Blockchain Symposium, responded that the president does not have authority to determine regulatory levels and that such decisions belong to Congress, the Senate, and the White House. CFTC Chair Michael Selig indicated the agency would explore advancing crypto regulations at its upcoming Innovation Advisory Committee meeting, noting that Congress will not reconvene for another month. The White House previously hosted crypto industry leaders at a summit in March 2025 and held a signing ceremony for the GENIUS stablecoin bill in July 2025, as reported by the administration. Related reporting from Cointelegraph noted that the SEC has proposed new crypto rules in the absence of the CLARITY Act, offering safe harbor provisions for certain tokens. Analysts have raised questions about the potential impact of the bill on the Trump family's business interests, which have been cited as a factor in the Senate's delay. The Senate is set to consider a cloture vote on September 15, and the outcome of the CLARITY Act remains uncertain as legislators continue to debate its provisions.
FalconX and Ethena announced a $1 billion secured lending facility that will use assets backing the USDe stablecoin to fund overcollateralized loans for institutional borrowers.
The facility is structured through a special purpose vehicle, with FalconX originating and servicing the loans and managing collateral, while qualified custodians hold the pledged assets. Ethena will gain access to institutional lending as an additional source of return on its USDe assets beyond its traditional funding‑rate and basis‑spread strategies.
The loans are intended for institutional trading strategies, corporate treasury management and payment solutions. The companies did not disclose expected returns, loan terms, specific borrowers or the amount of capital initially deployed. The arrangement expands an existing relationship in which FalconX provides trading and financing services for USDe.
USDe, Ethena’s dollar‑pegged synthetic token, has a market capitalization of about $4 billion according to DefiLlama data. Unlike fiat‑backed stablecoins such as USDT and USDC, USDe maintains its peg through crypto collateral paired with short derivatives positions, generating yields from funding rates and basis spreads.
The deal reflects growing institutional interest in DeFi‑linked credit products, though the facility’s impact on USDe liquidity and market stability remains uncertain.
OCC head Jonathan Gould said the agency will issue final rules for stablecoin implementation by November, ahead of the January 2027 effective date of the GENIUS Act. The GENIUS Act, signed into law in July 2025, creates a regulatory framework for payment stablecoins overseen by the OCC, the Treasury Department, the Federal Deposit Insurance Corporation and the Federal Reserve Board. The OCC released a 376‑page proposal in February and has been reviewing feedback from the crypto industry. Gould said at the Wyoming Blockchain Symposium that the final rule will be published after considering that feedback, and that the regulator could begin processing applications for stablecoin issuers in 2027. Agencies have until January 18 to finalize regulations, but as of July no final rules had been published, leaving issuers with regulatory uncertainty. Several agencies have already issued proposals and collected public comments on the implementation of the law.
Composer Joe Hisaishi, known for his scores on Studio Ghibli films, has received three Guinness World Records. He was recognized for the most tickets sold by a classical composer for a single run at the Tokyo Dome, the highest‑selling classical performance at the Hollywood Bowl, and the longest residency by a classical composer at Radio City Music Hall in New York. Hisaishi has composed the music for every Studio Ghibli feature from Nausicaä of the Valley of the Wind (1984) onward, as well as for Isao Takahata’s 2013 film The Tale of the Princess Kaguya and the 2022 stage version of My Neighbor Totoro at London’s Barbican Centre. The Japanese government honored him with the Order of the Rising Sun, Gold Rays with Rosette in November 2023. The records reflect strong audience turnout at the Tokyo Dome, record attendance at the Hollywood Bowl, and an extended series of performances at Radio City Music Hall.
This edition was assembled from neutral, agent-rewritten summaries of the day's aggregated news.
Why it matters: Every article was reviewed for loaded language, partisan framing, and missing attribution before publication.
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