August 5th Midday Update: Key Developments at a Glance

7:00-12:00 Keywords: Bitsonic, Coinbase, White House

1. Trump celebrates the surge in US stocks: there will be many more rises like this;

2. Representative of South Korean cryptocurrency exchange Bitsonic jailed again for suspected 100 million won fraud case;

3. Coinbase CEO: US government to hold over $600 billion in Bitcoin reserves;

4. Benchmark: Coinbase's weak profits and stock price decline are "irrelevant in the grand scheme of things";

5. Coinbase and PayPal continue to issue stablecoin rewards in response to regulatory controversy surrounding the "GENIUS Act";

6. Bitcoin Magazine CEO David Bailey plans to raise $200 million for a new political action committee;

7. President of The ETF Store: The White House is preparing an executive order aimed at punishing banks that discriminate against cryptocurrency companies.