1. Trump proposes repaying $35 trillion in US national debt with Bitcoin or "crypto checks". 2. Bitcoin once plummeted by 10%, global risk aversion

Trump proposed repaying $35 trillion in US national debt with Bitcoin or "crypto checks", causing Bitcoin to plummet by 10%. Global risk aversion sentiment has impacted the cryptocurrency market. The value of Trump's cryptocurrency holdings has dropped below $7 million, a decrease of about 80%. The cryptocurrency market typically faces a seasonal downward trend in August. Cryptocurrency industry executives plan to meet with White House advisors. Hong Kong legislator Lin Lin suggested the introduction of a stablecoin pegged to the Hong Kong dollar. 10x Research believes that if the US economy deteriorates, Bitcoin may fall below $50,000. Ripple's second-quarter report shows a 65.6% decrease in transaction volume and a 168% increase in transaction costs