Lookonchain monitoring shows the largest onchain short positions sit in market maker hedging accounts. Abraxas Capital, Fasanara Capital and Wintermute together hold 138,569 ETH in shorts valued at $338 million and 3,425 BTC in shorts valued at $265 million, for a combined $603 million.

Odaily Planet Daily cites xm39 tracking data showing the trader has continued scaling up its "Long Crude, Short Nasdaq" strategy. Since a major rebalance on Aug. 17, the two Hyperliquid positions have grown from about $17.606 million to $48.209 million, an increase of roughly $30.6 million, up 173.8%. The WTI long expanded from $7.299 million to $12.833 million, with cumulative buying of around $5.069 million over the period. After WTI fell 1.5% today, xm39 added another $1.561 million at an average price of $85.38, lifting the overall average entry to $81.80. Unrealized profit on the WTI position is now about $535,000, roughly 7.6 times the prior level. The Nasdaq short increased from roughly $10.307 million to $35.376 million, with net additional exposure of about $25.529 million. Current unrealized profit is around $195,000, while repeated adjustments during the period generated an additional $250,000 in realized gains. Together, the two legs carry about $730,000 in unrealized profit; including realized gains, total profit from the "Long Oil, Short Equities" trade is nearing $980,000. xm39 has also placed take-profit orders totaling about $10.6 million between $89.39 and $90.42. Separately, xm39's Polymarket "war bets" remain underwater despite added exposure. The account holds 1,565,400 "Yes" shares in "The U.S. will invade Iran before 2027," with about $364,600 invested and an unrealized loss of roughly $106,300 (a 29.1% return rate). The position has been increased by approximately 254,000 shares since the last update.

China has earmarked 800 billion yuan (about $119 billion) for a broad funding initiative aimed at boosting activity in high-tech manufacturing, ecological restoration and transport. Execution is lagging the original pace, raising questions about how quickly the support can reach the real economy. The National Development and Reform Commission (NDRC) is running its largest program to date, lifting this year's allocation by 300 billion yuan from last year's 500 billion yuan. The package spans 1,459 priority projects and adds tools such as fiscal interest subsidies intended to draw private capital back into approved sectors. Recent data highlight the urgency. China's July 2026 figures showed weaker momentum across key indicators: industrial output fell, retail sales cooled, and private investment dropped 9.4% year on year. Fixed-asset investment, which includes spending on factories, infrastructure and real estate, also declined. Goldman Sachs and BNP Paribas have pointed to rollout speed as a key risk, urging faster disbursement in the third quarter, typically the busiest construction period. The 800 billion yuan facility is structured outside traditional commercial bank lending. Beijing introduced two main enhancements for 2026: a central-government interest subsidy of 1.5 percentage points, capped at 50 million yuan per eligible small and medium-sized enterprise; and a 500 billion yuan guarantee program to lower risk for private firms investing in approved areas. Target sectors include high-tech development, advanced manufacturing, the digital economy, ecological restoration and transportation infrastructure. Last year provides a reference point: the 2025 round was fully deployed around September to October, and the NDRC said it helped catalyze trillions of yuan in additional project investment. Delays carry added weight amid a tougher external backdrop. With tariff pressures and supply-chain shifts clouding the outlook for exporters, domestic investment is expected to play a larger role in supporting growth. Market participants are likely to focus on disbursement updates over the next two months. If deployment again concentrates in September to October, the program could still translate into meaningful stimulus heading into the fourth quarter. The 500 billion yuan private-investment guarantee is seen as the most pivotal element. Whether it can meaningfully offset the caution implied by a 9.4% decline in private investment may shape China's economic trajectory in the second half of the year.

Ray Dalio, founder of Bridgewater Associates, said U.S. debt could climb to $55 trillion to $60 trillion over the next 10 years. He warned that if the current fiscal trajectory persists, a full-scale debt crisis could emerge in roughly three years, with an estimated timing range of plus or minus two years. Dalio said investors may want to cut exposure to debt assets such as bonds, while allocating 10% to 15% of portfolios to gold and a small share to Bitcoin. He argued that non-government-issued stores of value, including gold and Bitcoin, could hold up comparatively well. U.S. Treasury data shows that as of the close of business on Aug. 18, total public debt reached $40.05 trillion, topping $40 trillion for the first time. Separately, on Aug. 19, the U.S. Department of the Treasury said it will expand its long-term liquidity support repurchase program, raising the maximum size for a single repo operation in select 10- to 30-year securities from $2 billion to at least $4 billion. The change will be in effect from Sept. 9 through Nov. 4. (Bitcoin.com News)

International oil prices moved lower on Aug. 24 (UTC+8) as investors looked ahead to an expected announcement of fresh sanctions on Iran from U.S. Treasury Secretary Bentsen, ME News reported. WTI crude futures fell about 1.3% to $85.93 a barrel, while Brent declined 1.24% to $93.22. Bentsen has said Washington would mount "the largest financial offensive in history" against Iran, calling on allies and other countries to cut economic ties. Iran said it can endure sanctions and keep external economic relations intact. Commonwealth Bank of Australia said that if the U.S. push to economically isolate Iran gains traction, the risk of Iran taking more aggressive steps could rise, adding to volatility across energy markets. (Source: ChainCatcher)

Gold prices climbed past $4,650.

ChainThink reports that on Aug. 24, Alibaba said in an official statement it plans to place 710 million new shares at HK$112.70 each, aiming to raise about HK$80 billion (around US$10.2 billion). The offer price implies an estimated 3.6% discount to the latest closing price. The deal would be Alibaba's first primary share sale since its Hong Kong listing in 2019. The company said it will allocate 100% of net proceeds to full-stack AI, spanning chips, AI infrastructure, and the development and deployment of models. Upon completion, the placement is expected to be the largest follow-on offering in Hong Kong listing history, and the third-largest globally in 2026, behind Alphabet and Intel. People familiar with the transaction said the placement was oversubscribed, attracting long-term investors including sovereign wealth funds. Alibaba's latest financial report showed capital expenditure in the most recent quarter rose 75% year over year to RMB 67.678 billion, largely directed to AI infrastructure. Revenue from AI cloud and computing-power services grew 45% year over year.

Spot gold rose 0.7% to $4,636.34 an ounce, its highest level since May 15. Prices gained more than 5% last week. Goldman Sachs said gold could surpass its $4,900 year-end target. Poland's central bank lifted its gold holdings in July to 20.6 million ounces.

Aug. 24 — The United States has imposed 50% tariffs on select Canadian goods after U.S.-Canada trade talks collapsed, CNBC reported. Canadian Prime Minister Carney said Ottawa will respond with tit-for-tat measures, with retaliatory tariffs on U.S. products slated to begin Sept. 8. U.S. Treasury Secretary Scott Bessent is expected to unveil sweeping sanctions on Iran on Monday, describing the package as the U.S. government's "largest financial offensive ever" against an adversary. Markets opened the week on a cautious note. U.S. stock index futures fell Sunday as long-term Treasury yields continued to push higher, with the 30-year yield at 5.273% and the 10-year yield around 4.734%. Separately, AI startup Anthropic is preparing to go public. Its IPO filings are expected to flag public opposition to AI development and data-center expansion as a key risk factor.