Aug 18 — Stablecoins, Strategy's selling streak, and Ethereum…

• The U.S. Treasury proposed rules under the GENIUS Act that could reshape how stablecoins trade on exchanges, affecting issuers like Circle, Tether, and USD1 — the first concrete federal regulatory framework is now in motion. • Strategy sold $334M in MSTR shares for the fourth straight week without buying any bitcoin, draining a key structural bid while its USD reserve sits at $4.8B — the market's most reliable BTC buyer has turned net seller. • The Ethereum Foundation is scrapping Poseidon after an eight-year, eight-figure investment, shifting L1 SNARK proving to SHA2 and BLAKE2s — a major strategic reversal that reshapes Ethereum's zero-knowledge roadmap.