Bitgo CEO Mike Belshe acknowledged the high volatility of the cryptocurrency market but stated that the theory of Bitcoin remains valid. He emphasized that a clear regulatory framework is necessary for the long-term growth of the cryptocurrency industry. In an interview with Fox Business on August 25, Belshe mentioned that the cryptocurrency industry is transforming the financial system, and there will be cycles of ups and downs in this process. He remarked, "The industry experiences fluctuations; if you are not prepared to handle a 20% drop, you are not prepared to handle a 600% rise." Belshe pointed out that the cryptocurrency industry desires regulation and that basic regulations are needed. He explained that legislation like the Clarity Act must pass for regulatory discussions to gain momentum in the U.S. Additionally, Bitgo, as a regulated trust company, provides cryptocurrency custody infrastructure, and he predicted that major financial institutions would participate more actively once clear rules are established. Regarding the risks of quantum computing, he does not see it as an imminent threat and stated that the industry is developing technologies to prepare for quantum computing. Belshe added that the cryptocurrency industry must prove security and trust to attract institutional funding.
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Global markets delivered mixed signals. Bitcoin and Ethereum strengthened as institutional flows into spot ETFs supported a recovery in crypto risk appetite, while the Robinhood ecosystem and NFT sector also remained active. In technology, NVIDIA continued to weaken ahead of its earnings release, with investors focused on AI returns, customer capital expenditure, and order execution. PDD Holdings saw significant volatility after reporting results, while Applied Optoelectronics came under pressure following its large equity financing announcement. Investors are also awaiting new rate-path signals from the Jackson Hole Economic Symposium.



















