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Recently, Spot Bitcoin ETFs and Ether ETFs experienced notable capital outflows, signaling a shift in investor sentiment within the digital asset market. This development occurred on Friday, following a report from the Federal Reserve indicating an uptick in core inflation. The reported rise in inflationary pressures is partly attributed to the lingering effects of specific trade policies, particularly the tariffs implemented during the Trump administration.

El Salvador has initiated a significant security protocol, strategically distributing its national Bitcoin reserves across 14 new wallet addresses. This proactive measure involves the nation's entire holding of 6,274 Bitcoin, valued at approximately $678 million, and is primarily aimed at bolstering digital asset security against the nascent but growing threat of quantum computing attacks.

Tether, the issuer of the world's largest stablecoin, USDT, has announced a significant reversal in its strategy regarding blockchain support. The company has scrapped previous plans to discontinue USDT operations on five distinct networks: Omni, Bitcoin Cash SLP, Kusama, EOS, and Algorand. Instead, USDT will continue to operate on these blockchains, albeit in a "limited capacity," marking an unexpected pivot from its earlier declared phasing-out intentions.

In a significant development for the memecoin sector, Alex Spiro, a prominent lawyer known for representing Elon Musk, is reportedly set to assume the chairmanship of a newly established Dogecoin treasury company. This initiative, backed by "House of Doge," aims to manage an impressive fund of $200 million, signaling a notable evolution within the decentralized finance landscape, particularly concerning memecoin projects.

The PENGU token, the official cryptocurrency linked to the popular Pudgy Penguins NFT collection, experienced a notable 20% decrease in value throughout August. This significant downturn occurred concurrently with the launch of the project's new Pudgy Party game, highlighting the challenging market conditions currently affecting the broader NFT and digital collectibles sectors. The decline in PENGU's value mirrors a widespread trend of contraction across the digital asset landscape during the same period.

Bitcoin is currently experiencing an accelerated sell-off, reflecting broader risk aversion across global financial markets. This downturn is primarily fueled by mounting macroeconomic challenges, prompting both traditional stock and cryptocurrency traders to significantly reduce their exposure to risk assets. The confluence of a widening US trade deficit and growing instability within China's banking sector has particularly raised alarms, contributing to a cautious investment environment.

Gryphon Digital Mining shareholders have officially approved a reverse merger with American Bitcoin, a move set to facilitate American Bitcoin's highly anticipated Nasdaq debut under the ticker symbol ABTC. This significant corporate action marks a pivotal moment for the cryptocurrency-focused entity, notably characterized by its connections to the Trump family.

A significant legal development in the cryptocurrency sector has seen the so-called "Strategy Bitcoin lawsuit" officially dismissed, following the withdrawal of the case by the plaintiffs, identified as investors. This dismissal carries particular weight as it has been issued "with prejudice," a legal term signifying a permanent end to the litigation.

Ether (ETH) has recently experienced a notable decline, breaching the significant $4,300 support level and slipping below a crucial ‘Tom Lee’ trendline. This technical breakdown occurs amidst heightened concerns over typical September seasonality, which historically correlates with increased correction risks across financial markets, including cryptocurrencies. The confluence of these factors suggests a potential for further price depreciation, with some analysts eyeing a downside of approximately 10%.