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The CEO of $77.4 billion cryptocurrency platform Coinbase enforced a recent AI push by firing employees who failed to onboard with new AI tools by a strict deadline. Coinbase CEO Brian Armstrong told the “Cheeky Pint” podcast earlier this week that he showed his staff how serious he was about AI adoption at the company. Armstrong said he “mandated” the use of AI coding tools internally earlier this year, and Coinbase employees told him that it would take up to six months to get 50% of the software engineers on staff to use the AI tools. But Armstrong decided to accelerate that timeline. Related: The Fastest-Growing Startup Ever Just Surpassed $500 Million in Annual Revenue. Here’s Why It Keeps Growing, According to Its CEO. He told software engineers to learn the AI tools by the end of the workweek. They didn’t have to use the tools every day; just get familiar with them. Engineers who failed to onboard had to meet with Armstrong on a Saturday to explain why they hadn’t. Those without a good reason were fired. “I jumped on this call on Saturday, and there were a couple of people who had not done it,” Armstrong said on the podcast. “Some of them had a good reason, because they were just getting back from some trip or something, and some of them didn’t, and they got fired.” It’s unclear how many employees were fired out of Coinbase’s 4,200-person workforce. Coinbase CEO Brian Armstrong. Photographer: Bryan van der Beek/Bloomberg via Getty Images Armstrong said that the firings were related to a broader push to use AI. “Like a lot of companies, we’re leaning as hard as we can into AI,” Armstrong said on the podcast. “We made a big push to get every engineer on Cursor and Copilot,” he added, referring to two popular AI coding tools that generate code from prompts, edit code, and debug programs. Armstrong mentioned that though some employees didn’t like his “heavy-handed approach,” it set the tone and provided clarity about the company’s priorities. Now 33% of Coinbase’s code is written by AI, with the goal of hitting 50% by the end of the quarter in September, he said. Related: Perplexity CEO Says AI Coding Tools Cut Work Time From ‘Four Days to Literally One Hour’ Other companies are also generating comparable amounts of code with AI. Google CEO Sundar Pichai stated in April that Google is using AI to write “well over 30%” of all new code at the company, while Microsoft CEO Satya Nadella stated in the same month that AI generates 20% to 30% of new code at Microsoft. Many companies in the U.S. are mandating that employees use AI tools. Perplexity, an AI search engine startup valued at $14 billion, made it “compulsory” for engineers to use Cursor or Copilot earlier this year, and saw measurable outcomes. CEO Aravind Srinivas told Y Combinator last month that the AI tools reduced “experimentation time” from “three, four days to literally one hour.” “That level of change is incredible,” Srinivas stated. AI coding tools are also gaining popularity. Cursor hit one million users in April since its launch last year and exceeded $500 million in annual revenue by June. Meanwhile, GitHub Copilot reached more than 20 million users last month. Read More

Opinions expressed by Entrepreneur contributors are their own. In any fast-paced sales environment, closing a deal is often seen as the final hurdle. But just before that contract is signed, subtle missteps can create major risks, particularly when client-requested changes go unchecked or processes aren’t followed closely. While these issues often appear within the sales cycle, the potential consequences span across legal, compliance, operations and finance. Related: Your Contracts Could Be Limiting Your Revenue Potential and Increasing Risk in Your Business. Here’s How to Take Control. When standard processes meet last-minute changes For many organizations, platforms like Salesforce have helped bring structure and consistency to deal-making. From initial outreach to signed agreement, the path is streamlined and standardized — especially in industries where contracts are carefully templated and rarely deviated from. But even the most carefully designed workflows can become vulnerable at the finish line. A common scenario: A client returns a contract with their edits incorporated, rather than marked. Buried deep in the document, a key clause has been deleted. It may seem minor. It may go unnoticed. But that single, unvetted change can alter legal responsibilities, shift liabilities or remove important protections. One word changed or omitted can carry long-term consequences. These kinds of last-minute revisions, particularly when delivered in a seemingly complete, clean format, present a serious risk. The issue isn’t malice; it’s momentum. At this stage, the client is often ready to get the deal done. That’s why the most important defense against risk isn’t about slowing down the sales team; it’s about reinforcing the systems and habits that allow them to move quickly without sacrificing accuracy. The power of proactive training Mitigating these risks starts with consistent, practical training that goes beyond product knowledge. Teams need regular reminders of where and how deals can go off track. At Associa, the world’s largest homeowners association management company, we have quarterly regional calls for our sales leaders and legal department, which are essential to create a space not only to share updates, but to talk through real-world challenges. These sessions often surface emerging trends, like new types of redlines or recurring client requests that require broader alignment. Our annual leadership summit adds another powerful layer of connection and alignment. Over the course of nearly a week, leaders from more than 300 branch offices and sales leaders come together in person for immersive training, open Q&A sessions and collaborative problem solving. It’s an opportunity to cover not just what’s changing, but why certain policies and processes matter. Accessibility during these events is key — salespeople need direct access to legal, finance and operations leaders who can clarify expectations and help prevent common errors. Related: 6 Mistakes to Avoid When Creating Client Contracts Standardization is your safety net Beyond training, standardized deal checklists are a critical tool for catching oversights. Whether responding to an RFP, hiring a vendor or onboarding a client, these checklists prompt teams to confirm legal review, double-check key sections of a contract and ensure no critical terms have been deleted or altered. These aren’t just administrative tools; they’re guardrails. When the pressure is on to finalize a deal, checklists force a pause for essential verifications. Did the client send back a PDF instead of a redlined Word document? Has anyone reviewed the terms that were modified? Has legal approved the final version? These questions matter — and the checklist ensures they’re answered before the deal closes. Standardization also removes ambiguity. When everyone uses the same process, it’s easier to spot when something is off. That consistency protects the business while enabling the sales team to move confidently. Cross-functional collaboration is key It’s also important to remember that protecting the business isn’t the job of any single team. While these risks may emerge during the final stages of a deal, they require coordinated vigilance from legal, compliance, operations and leadership alike. Sales teams shouldn’t be expected to be the final gatekeepers of every nuanced legal clause, but they should know when to flag something and who to bring in when they do. The most resilient organizations cultivate this kind of shared accountability. They break down silos, making it easy for team members to get answers quickly and escalate when needed. Whether through workflow automation or simple communication channels, the goal is the same: to make it easier to do the right thing than to make a mistake. Related: 6 Ways to Save Your Shirt Audit before you act Finally, before any changes are made to existing systems or processes, it’s essential to audit what you already have. It’s a simple principle, but one that’s often missed in the rush to improve or adjust. A thorough audit helps reveal weak points, whether it’s outdated templates, unclear handoff protocols, inconsistent training or information communication. In one instance, a contract signed casually over dinner — meant in good faith — lacked basic protections like defined services or pricing terms, which later led to avoidable complications. Without this step, well-intentioned updates can accidentally introduce new risks. But with it, your team can evolve your processes with confidence, building on a solid foundation rather than layering fixes on top of blind spots. Closing a deal is the culmination of hard work, strategy and relationship-building. But it’s also one of the most delicate moments in the business lifecycle. Without the right safeguards in place, it’s all too easy for a last-minute change to slip through unnoticed. By investing in recurring training, implementing standardized checklists, fostering collaboration across departments and auditing your processes before making changes, you can significantly reduce vulnerabilities and empower your teams to move quickly, confidently and in alignment with your long-term goals. Read More

Opinions expressed by Entrepreneur contributors are their own. Life is full of minor inconveniences. Most people see them as annoyances, but entrepreneurs see opportunities. Small frustrations can spark ideas that lead to big solutions, and many of the best companies are built by solving problems others overlook. That’s exactly what Dylan Wolff has done with his water conservation startup, CNSRV. A cooler way to thaw Wolff, a Southern California native, was introduced to the issue that now dominates his life through a bartending friend. “He told me the restaurant wasn’t serving drinking water to customers unless they asked for it — a policy to conserve water. But in the back of the house, in the kitchen, they were running the faucet for 10 hours a day to defrost frozen food. That’s over 4,000 gallons of water straight down the drain.” This isn’t an isolated issue. Every year, billions of gallons of water are wasted in the U.S. food industry during the defrosting process. One turkey breast can take 5 hours of running water. It seems like small potatoes, but when you multiply that across every restaurant in America, the environmental cost is staggering. After this epiphany, Wolff immersed himself in the wondrous world of food defrosting. He found that restaurants use three main methods: refrigerating the food, microwaving it or running it under cold water. The fridge method takes days to defrost, creating an “inventory nightmare”, and we all know that microwaved food isn’t quite the same. That leaves the cold water method, which would be perfect if not for the thousands of gallons wasted each day. “I spoke with as many people in commercial kitchens as I could, and kept hearing the same thing,” Wolff says. “It’s just the nature of the business.” Undeterred, Wolff turned words into action, meeting with health departments to fully understand the code and reverse-engineer a solution. Working with his partner, Brett Abrams and Tim Nugent, head of R&D, he developed an early prototype that uses a proprietary defrosting method combining water agitation and precise temperature control. That prototype would become the DC: 02, a defrosting machine that cuts thawing time in half using 98% less water than traditional methods, and improves food quality, all while saving thousands in utility expenses. Related: I Interviewed 5 Entrepreneurs Generating Up to $20 Million in Revenue a Year — And They All Have the Same Regret About Starting Their Business Efficiency meets affordability When Wolff started, there were hardly any players in the defrosting industry, and none with a completely portable technology. “There are alternatives, but they’re $35,000 blast chillers that need a dedicated 220 outlet and a lot of kitchen space,” Wolff says. “We’ve built something that uses the space they’re already defrosting in, plugs into a standard 120 outlet, uses little power, and completely optimizes the process.” For customers who don’t care about water savings, Wolff jokes that he can “Trojan horse” it in. “They’ll care about the improved quality and saving time,” he says. They’ll also care about new rebate programs from municipalities in Southern California ($800 per unit) and Tampa, Florida ($1,000 per unit). “The Metropolitan Water District has a program that provides grants to innovations in the water conservation space,” Wolff explains. “I received that grant, along with the third-party validation of our technology that came with it.” For consumers, that means when you buy a DC:02, you’ll get a check back from the Metropolitan Water District. Wolff envisions this resonating with smaller restaurants and grocers, who benefit personally from the savings while contributing to the larger cause of water conservation. Related: 7 Water-Saving Strategies for Your Business Though passionate about the environment, Wolff has no formal training in sustainability or water conservation. What he does have is a background in product development, management, and an entrepreneurial drive. He bootstrapped CNSRV through its early stages, raising capital from friends and family before catching the attention of venture group Burnt Island Ventures, which provided the funding to take the next step. “I always knew I wanted to do something entrepreneurial,” Wolff says. “I just needed that spark—the problem to solve. This was a serendipitous intersection of my strengths in business and my passion for sustainability. Finding this solution is exactly where I want to focus my time and energy.” Read More

The 10 best state fairs across the U.S. From giant butter cows to fried cake, these state fairs are full of tradition, food, and fun There’s nothing quite like a state fair. They mix nostalgia with spectacle, drawing millions for a taste of local food, music, and carnival thrills. From massive produce and livestock competitions to outrageous fried creations, each fair reflects the personality of its state while offering a chance for communities to come together and have fun. To determine the nation’s favorites, USA Today’s 10Best team assembled a panel of experts who nominated standout state fairs from across the country. Readers then cast their votes, deciding which fairs earned a spot in the top 10. The result is a list that celebrates iconic and surprising fairs across the country. Continue reading to see which fairs made the list — and why. 2 / 11 #10: Ohio State Fair – Columbus, Ohio Douglas Sacha / Getty Images One of the country’s longest-running fairs, the Ohio State Fair draws close to a million visitors over nearly two weeks each summer. Beyond the rides and food, it offers quirky attractions such as camel rides, giant board games, a tattoo contest, and one of the world’s longest portable sky rides. Since its modest start in 1850, it has grown into a must-see event with endless food options. 3 / 11 #9: Washington State Fair – Puyallup, Washington The Washington State Fair has been around since 1900 and now attracts more than a million attendees annually. It hosts two separate events each year, with the fall fair lasting over two weeks. Visitors come for the rides, agricultural competitions, winemaking exhibits, and an entertainment lineup that brings big names to the Pacific Northwest. 4 / 11 #8: Florida State Fair – Tampa, Florida Jeff Greenberg / Getty Images Each February, Tampa welcomes the Florida State Fair, a showcase of the state’s agricultural and cultural highlights. Guests can explore livestock shows, thrill rides, and art displays while eating fair food like deep-fried strawberry shortcake. The fair also has concerts, circus acts, and exhibits about Floridian history. 5 / 11 #7: Alaska State Fair – Palmer, Alaska Anchorage Daily News / Contributor / Getty Images Set against the Chugach Mountains, the Alaska State Fair is known for its jaw-dropping giant vegetables, vibrant gardens, and uniquely Alaskan flair. Since 1936, it has been the state’s biggest summer celebration, offering carnival rides, horse shows, live performances, and hundreds of vendors. 6 / 11 #6: Indiana State Fair – Indianapolis, Indiana Spencer Platt / Getty Images For more than a century, the Indiana State Fair has celebrated agriculture and community pride in the heart of the Midwest. The event blends farm traditions with modern entertainment, boasting one of the largest midways in the country. 7 / 11 #5: South Carolina State Fair – Columbia, South Carolina Columbia transforms into a hub of rides, food, and entertainment for the South Carolina State Fair every October. Families flock to roller coasters, petting zoos, and creative competitions, while eating turkey legs and fried cookie dough. 8 / 11 #4: State Fair of Texas – Dallas, Texas The State Fair of Texas is all about scale. Since 1886, it has been a massive celebration of agriculture, education, and Texas pride, drawing millions annually. Visitors can enjoy car shows, chili cook-offs, shopping, and the famed Big Tex Choice Awards, where unusual fried creations compete for attention. 9 / 11 #3: Wisconsin State Fair – West Allis, Wisconsin Matt Anderson Photography / Getty Images A summertime tradition for more than 100 years, the Wisconsin State Fair features everything from animal competitions to craft exhibits and flower shows. More than a million people come each year for the rides, shopping, and entertainment, with top-tier musicians often taking the stage. Cheese lovers will also feel right at home with competitions spotlighting the state’s dairy excellence. 10 / 11 #2: Iowa State Fair – Des Moines, Iowa Brandon Bell / Getty Images One of the most iconic fairs in the country, the Iowa State Fair has inspired novels, films, and even a Broadway musical. Held each August in Des Moines, it is famous for its butter cow sculpture and has earned a spot on the National Register of Historic Places. More than a million attendees go each year. 11 / 11 #1: Minnesota State Fair – St. Paul, Minnesota JoeChristensen / Getty Images Known as the “Great Minnesota Get-Together,” this fair tops the list with nearly two million annual visitors. Spanning 320 acres, it runs from late August through Labor Day and provides a major economic boost to the region, with thousands of vendors, live entertainment, and countless food options. Read More

Markets closed last week on a pivot. Stocks were mixed Monday through Wednesday amid lingering caution around tech, only to surge after Federal Reserve Chair Jerome Powell’s Jackson Hole speech on Friday, where he signaled a willingness to restart interest rate cuts. The S&P 500 rose 1.5%, the blue-chip Dow gained 1.9% to reach a record close, and small caps led the rally with a 3.9% jump. Plus, Treasury yields eased and the dollar weakened, as markets read Powell’s tone as slightly more dovish despite still-sticky inflation. With Jackson Hole now in the rearview, the coming five trading days deliver a clean sequence of housing reads, a mid-week tech/AI earnings pile-up, and a Friday macro finale anchored by the Fed’s preferred inflation gauge.  First up: A Monday-through-Thursday housing sequence—starting with new-home sales, followed later by house-price data and pending-home contracts—will test whether elevated mortgage rates are merely cooling activity or beginning to subdue pricing power in shelter. Midweek, durable-goods orders, consumer confidence, and house-price readings will layer CapEx, demand sentiment, and pricing shifts into the narrative. And by Thursday night, markets will have heard from the most systemically important company in AI (Nvidia) alongside a cross-section of retailers that can confirm or puncture the “resilient consumer” storyline and offer insight into both enterprise spend and back-to-school consumer behavior. But all paths lead to Friday’s centerpiece: core PCE, the Fed’s preferred inflation gauge, alongside personal‐income data and University of Michigan’s read on consumers. If core inflation cools while confidence and spending hold, the gentle-landing case lives on; if PCE or housing sours, September’s cut odds get repriced in a hurry — and so does the path for the rest of 2025. Monday, Aug. 25 The week opens with a bellwether for homebuilders and the rate-sensitive corners of the economy: July new-home sales hit at 10 a.m. ET. New construction has been one of the few release valves for low existing-home inventory, but affordability remains tight, and mortgage rates are still a headwind, so any change in the sales pace will be closely scrutinized for clues on price stickiness and supply. A half-hour later, the Dallas Fed’s Texas manufacturing survey lands, offering a timely look at factory activity in a region that’s a useful microcosm for energy, transport, and goods demand. Before U.S. markets open, China’s PDD reports, putting cross-border e-commerce, advertising intensity, and discounting dynamics in focus to start the week. Tuesday, Aug. 26 Tuesday is the data deluge for the real-economy watchers. It starts at 8:30 a.m. ET with July durable goods orders — a direct read on CapEx momentum and transport equipment — in what has become one of the more market-sensitive prints for the goods side of GDP. At 9 a.m. ET, the S&P CoreLogic Case-Shiller home-price indices arrive with June data; FHFA follows with its quarterly report (including monthly tables through June), giving a second angle on price pressures inside the shelter components that flow through to inflation. At 10 a.m. ET, the Conference Board’s consumer confidence hits, pairing with the Richmond Fed’s manufacturing survey to round out a broad snapshot of both households and factories. The mix is tailor-made to test the “soft-landing” narrative: Are consumers still upbeat while housing cools in a controlled way, or is price fatigue reasserting itself? Wednesday, Aug. 27 Midweek is lighter on the macro: MBA mortgage applications at 7 a.m. ET and the EIA’s crude inventories at 10:30 a.m.. Then, pre-market, Abercrombie & Fitch, Foot Locker, and Kohl’s report, giving a concentrated read on apparel markdown discipline, traffic, and inventory health across teen, sneaker, and department-store channels. These are powerful cross-checks on promotions and back-to-school demand at a moment when investors are deciding whether consumer strength is broadening or just getting more value-obsessed. But that relative calm comes before an AI-soaked earnings storm after the bell when the tech complex takes the mic. Nvidia, Snowflake, CrowdStrike, and HP Inc. all report, spanning the stack from accelerators and data-center demand to data-cloud consumption, cyber spend, and PC/print cash-flow dynamics. Expect outsized interest in any commentary on supply chains for accelerators, cloud optimization cycles, inference versus training spend, and whether enterprise security budgets are expanding or shifting across vendors. With equity leadership so heavily concentrated in AI-adjacent names, this single evening could tug at broader risk appetite. Thursday, Aug. 28 Thursday puts the macro back in the driver’s seat at 8:30 a.m. ET with the second estimate of Q2 GDP and the first read on corporate profits, alongside weekly jobless claims. The GDP revision will help refine the growth/inflation mix heading into Friday’s PCE release, while claims continue to serve as the earliest pulse check on labor-market cooling. At 10 a.m., pending home sales arrive — often a useful leading signal for existing-home closings — and at 11 a.m., the Kansas City Fed’s manufacturing survey adds a Tenth District read to the factory mosaic. On the corporate side, it’s a retail-plus-chips double feature: Best Buy and Dollar General report before the open, giving investors fresh reads on discretionary big-ticket demand and value-seeking foot traffic. But it’s also a heavyweight morning for the U.S. consumer: Burlington Stores and Dick’s Sporting Goods report before the open — spanning off-price apparel and sporting goods at the height of the back-to-school season. After the bell, Gap takes its turn, and Ulta Beauty also lands — two useful reads on brand heat, promotions, and the durability of premium spend. Together, this cluster will say a lot about whether shoppers are trading down, trading over, or simply trading on promos as tariffs and rates bite Friday, Aug. 29 The week closes with the single most consequential data moment for rate-cut handicapping: July personal income and outlays at 8:30 a.m. ET, which includes the Fed’s favorite headline and core PCE price indexes. Given how much of the inflation debate now hinges on services and shelter, any surprise here will reverberate across rate-sensitive equities, the two-year Treasury, and the dollar — all before most traders finish their first coffee.

Federal Reserve Chair Jerome Powell delivered a major speech on Friday morning in which he opened the door to restarting interest rate cuts in September, causing financial markets to surge. The annual Jackson Hole Economic Symposium in Wyoming is usually a tranquil affair with the globe’s prominent monetary policymakers gathering to discuss and debate labor markets, inflation, finance, and more. But this year’s convening has been overshadowed by President Donald Trump’s relentless assault on Powell, as he’s chipped away at the central bank’s independence. Investors and U.S. policymakers are sifting through Powell’s speech for any clue on the timing of the next interest rate cut. He hinted at the possibility of a cut to juice the U.S. economy at the next gathering of Fed officials, given shifting economic conditions from Trump’s tariffs and accelerated deportations shrinking the labor force. “The stability of the unemployment rate and other labor market measures allows us to proceed carefully as we consider changes to our policy stance,” he said in his speech. “Nonetheless, with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.” Financial markets rose sharply on Friday morning as Powell delivered his remarks. The S&P 500 jumped 1.3% while the Dow Jones Industrial Average spiked 700 points, or 1.6%. Powell elaborated on his views of Trump’s import taxes. He said he believed the impact of tariffs on prices are now “clearly visible,” and argued they’ll be “short-lived” so it wouldn’t mandate a drastic change in the Fed’s careful approach. Still, he made it clear Fed officials are maneuvering a difficult situation with the threat of inflation on one hand and a weakening labor market in the other, calling it a “challenging situation.” “Come what may, we will not allow a one-time increase in the price level to become an ongoing inflation problem,” he said. Up to now, Fed officials have mostly stood by Powell’s assessment that Trump’s barrage of tariffs aren’t threatening the U.S. economy enough to lower interest rates and juice its growth. Instead, the Fed has held still, even as some of its top officials warn of a weakening job market. Trump’s attacks have thrust the Fed into the national spotlight, a position it’s not accustomed to given its usual insulation from day-to-day U.S. politics. He’s been irate for much of the year due to the Fed sitting still on interest rates five times in a row. Trump has flung personal insults at Powell and mused about installing himself as Fed chair — and that was just one day this summer. He later toyed with firing Powell before backing off, an apparent recognition of the turmoil that would unleash in financial markets. Trump later toured the Fed in a televised spectacle to inspect a renovation that’s attracted considerable conservative scrutiny. But his offensive hasn’t stopped there. On Wednesday, Trump demanded that Federal Reserve Governor Lisa Cook step down over mortgage fraud allegations. For her part, Cook said she will answer questions about her financial history but isn’t resigning. 📬 Sign up for the Daily Brief Read More

Stocks are up after the market opened Friday as investors eagerly await Federal Reserve Chair Jerome Powell’s speech.  Suggested Reading As of Friday at 9:50 a.m. Eastern, the Dow Jones Industrial Average is up 0.79%, while the S&P 500 has risen 0.63%. Nasdaq is up 0.54%.  Related Content Powell is set to give a speech Friday morning at the annual Jackson Hole Economic Symposium in Wyoming where he could give a highly anticipated update on interest rates. Experts are hoping he’ll move to slash rates — but that could pose unlikely.  The yearly Jackson Hole event gathers the world’s most prominent monetary policymakers to talk about labor markets, inflation, finance, and more. However, this year’s symposium has largely been eclipsed by President Donald Trump’s constant attacks on Powell for not yet cutting rates. He has called Powell a “major loser” and a “total stiff” for not cutting rates, and has floated the idea of trying to fire the central bank chief on several occasions. Investors and U.S. policymakers will be closely watching Powell’s speech for any indication if — and when — rate cuts could come. The Federal Reserve Chair faces pressure on all fronts. On one side, the recent jobs report that revealed a slump in hiring, fueling calls for a cut. On the other, a sharp spike in wholesale prices, fueling fresh concern about tariff-led inflation. However, with the Fed’s most recently released minutes showing inflation is a bigger concern than weak job market gains, rate cuts could be more of a dream than a reality.  Most Federal Reserve officials in July believed that the risk of higher inflation outpaced concerns about the state of the labor market, according to the latest minutes released by the central bank. Inflation and the health of the U.S. job market came up in the discussions, with officials determining that price increases constituted a larger risk to the U.S. economy than job losses. “A majority of participants judged the upside risk to inflation as the greater of these two risks,” a record of the two-day meeting said. — Joseph Zeballos-Roig and Alex Daniel contributed to this article.  📬 Sign up for the Daily Brief Read More

“Invalidation” is one of those words that’s easy to dislike and dismiss. Sometimes it sounds a little too feelings-y or like a therapeutic buzzword our relationship partner might use when they’re mad at us for expressing disagreement with them. Suggested Reading This can result in people confusing the idea of validation with agreement, which is a costly mistake — perhaps the greatest threat to the quality of our family and workplace relationships. Related Content The Invalidation Triple Threat might be the biggest, most important idea I talk about in my relationship coaching work with individuals and couples because it so often sneaks up on people and ruins their personal lives. An invalidation pattern is often the biggest threat to trust erosion in people’s relationships, but it disguises itself as harmless disagreement — especially in the workplace where disagreement and arriving at the best idea are often encouraged. We can all agree that we should be able to reasonably disagree about all sorts of ideas. Because many people are comfortable expressing disagreement, and because many people don’t ever think about the distinction between disagreement and invalidation, it turns out that people experience invalidation often. Over time, it will end marriages and long-term romantic partnerships. The personal stakes might be less in your workplace relationships, but if conversation, idea expression, and occasional disagreements are a routine part of your work day, developing this subtle relational skill can radically change how you are perceived and help you have much more successful relationships. How the Invalidation Triple Threat works (against you) It typically begins with someone — often our relationship partner but can just as easily be an employee or coworker — coming to us to communicate a problem or negative experience they’re having. They’re trying to tell us that something is wrong. Our most common responses are often the biggest threat to the quality of your personal and workplace relationships. Invalidating response #1: I don’t think about this the same way that you’re thinking about this  An employee, a coworker, a friend, one of your children, or your romantic partner comes to you to say that something is wrong. You think about it for a nanosecond and realize that you don’t agree with them, and then you say that out loud. “I don’t think about this the same way you think about this, therefore I judge your overall experience on the matter to be wrong. Try thinking about it this new way — the way that I’m thinking about it,” you might say. The unintended consequence of this conversation pattern is that the person who is trying to tell you about a problem they’re having is met with a response that’s more or less: Because I don’t think about this the same way you think about this, I’m not going to treat this with importance or care, because it doesn’t meet my standard for what’s important. I only treat what matters to you with respect when it aligns with what I care about, otherwise you’re on your own. A little bit of trust erodes. Invalidating response #2: I don’t feel about this the same way that you’re feeling about this Once again, an employee, coworker, friend, one of your kids, or your romantic partner comes to you with the aim of telling you that they’re having a problem. That something is wrong. You think about it for a nanosecond and realize that you don’t feel as passionately about what they’re saying as they do. You might even calculate that they’re being too sensitive or overreacting, and then you say so: “I don’t feel about this the same way you feel about this, therefore I judge your overall experience on the matter to be wrong. Try feeling about it this new way — the way that I’m feeling about it,” you might say. Similarly to the invalidating response #1, the unintended consequence of this conversation is that the person informing you of the issue they’re having and possibly trying to recruit you to help them are receiving the feedback: Because I don’t feel about this the same way you feel about this, I’m not going to treat this with importance or care, because it doesn’t meet my standard for what’s important. I only feel strongly about the things you feel strongly about when I judge your concerns as valid, otherwise you’re on your own. A little bit of trust erodes. Invalidating response #3: Defensiveness This time, someone is coming to you with a problem they’re having, and their experience suggests that it’s happening as a result of something you did or perhaps something you failed to do. Your split-second reaction might be that they’re judging you too harshly, or are unaware of some circumstances that rationalize or justify the decision you made leading to this outcome they’re unhappy about. “Hey, stop blaming me, I didn’t do anything wrong. Let me explain,” you might say. The unintended consequence of this conversation is that you prioritize your comfort and experiences more than the person coming to you for help and cooperation to solve their problem. Furthermore, rationalizing or justifying why you’ve done something which resulted in a negative outcome for someone else strongly implies that you may make that same choice again in the future. Again, a little bit more trust erodes. And the reason this is so problematic is because of how minor each of these incidents appears to be when viewed in isolation. Any one instance of this happening isn’t that big of a deal, and no one really thinks it is. What turns out to be a big deal is when this pattern is reoccurring, and a little bit of trust erodes again and again and again, and then after 1,000 of these so-called little instances stack up, there’s no trust left between the two parties. That’s when a self-respecting employee will find another job. That’s when a self-respecting business partner will find someone and something else to invest in. That’s when

Capital is piling into ETFs and custodians while Solana takes retail traffic, but Bitcoin’s onchain demand remains stagnant, deepening concerns over whether miners can sustain the network without meaningful fees. Aug 25, 2025, 12:50 a.m. Good Morning, Asia. Here’s what’s making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas. Bitcoin’s price is holding near records, but the chain itself is quiet. Glassnode data shows transaction fees have collapsed back toward decade lows, even as BTC flirts with six figures. In past cycles, fee spikes tracked bull markets as traders bid for blockspace. This year, the fee curve is flat while price rises, a clear sign that onchain demand is no longer driving the market. (Glassnode) A new report from Galaxy Research shows median daily fees have fallen more than 80% since April 2024, with as much as 15% of daily blocks now clearing at just 1 satoshi per vbyte. Nearly half of recent blocks are not full, signaling weak demand for blockspace and a dormant mempool. This is a sharp contrast to prior bull cycles, where price rallies translated into congestion and fee spikes. The data confirms a structural shift: spot ETFs and custodians now hold more than 1.3 million BTC, and coins parked in those wrappers rarely touch the chain again. At the same time, retail activity that once clogged the Bitcoin blockchain has migrated to Solana, where memecoins and NFTs benefit from cheaper and faster execution. The result, Galaxy notes, is that the bitcoin price is being set by custodial inflows while the network’s onchain demand – once a proxy for price movement – has slowed down. For miners, this dynamic is particularly punishing. With rewards halved to 3.125 BTC and fees contributing less than 1% of block revenue in July, profitability is under strain. That stress is pushing listed miners to diversify into AI and HPC hosting. Read more: Bitcoin Mining Faces ‘Incredibly Difficult’ Market as Power Becomes the Real Currency A report from earlier this year by Rittenhouse Research argues that Galaxy Digital’s move out of mining altogether could be the model for the sector. This move has been applauded by the equity markets. While BTC is down more than 3% on-year, the CoinShares Bitcoin Mining ETF has gained nearly 22%. Investors are rewarding firms that have leaned into diversification rather than relying on block rewards alone. Listed miners tell a similar story. Hive, Core Scientific, and TeraWulf all reported Q2 results padded by HPC and AI hosting revenues. Those with no diversification, like Bitdeer and BitFuFu, remain deeply exposed to electricity costs, equipment depreciation, and a fee market that Galaxy warns in its report is “anything but robust.” The juxtaposition is telling: Galaxy’s own research warns that the Bitcoin blockchain’s settlement role is stagnating, while Galaxy’s balance sheet is being repositioned for growth in AI data centers. Onchain data makes the point: without organic demand for blockspace, fees can’t fund security. And if fees stay low, equity markets are painting a clear picture that mining sector’s best future returns may come from AI, not Bitcoin. Market Movements BTC: Bitcoin traded at $113,286.95, down 1.79%, after briefly plunging to a six-week low near $110,600, with the broader crypto market facing heavy liquidations and volatility. ETH: Ether traded flat at $4,779 as Jerome Powell’s dovish Jackson Hole remarks boosted expectations of a September rate cut, with asset managers predicting new highs for bitcoin and an ETH breakout above $5,000 despite risks from treasury adoption and equity volatility. Gold: Gold closed at $3,371 after Powell’s dovish Jackson Hole remarks boosted September rate-cut odds. Nikkei 225: Asia-Pacific stocks climbed Monday, with Japan’s Nikkei 225 up 1.08%, after Powell signaled potential Fed rate cuts in September during his Jackson Hole speech. Elsewhere in Crypto The Funding: Why raising a crypto VC fund is harder now — even in a bull market (The Block) Why Luca Netz Will Be ‘Disappointed’ If Pudgy Penguins Doesn’t IPO Within 2 Years (Decrypt) KPMG Says Investor Interest in Digital Assets Will Drive Strong Second Half for Canadian Fintechs (CoinDesk) Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy. Sam Reynolds Sam Reynolds is a senior reporter based in Asia. Sam was part of the CoinDesk team that won the 2023 Gerald Loeb award in the breaking news category for coverage of FTX’s collapse. Prior to CoinDesk, he was a reporter with Blockworks and a semiconductor analyst with IDC. X icon AI Boost “AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy. More For You Bitcoin Chalks Out Lower Price High After Powell, Ether Prints Doji at Lifetime Peak Bitcoin has retraced to pre-Powell levels, maintaining bearish technical setup. What to know: Bitcoin has retraced to pre-Powell levels, maintaining bearish technical setup. Key support for BTC lies at $110,756, with a significant support zone near the 200-day simple moving average at $100,887. Ether’s chart shows doji candle and bearish divergence on the RSI. Read full story Read More

As ETH Breaks Above $4,900, Analyst Sums Up Crypto Market: ‘BTC Is Exhausted, ETH Isn’t’ Ether cleared $4,900 on Coinbase at 5:40 p.m. UTC on Sunday, entering price discovery; analysts are split between supply-shock upside and a Monday pullback. Updated Aug 24, 2025, 7:47 p.m. Published Aug 24, 2025, 7:36 p.m. Ether (ETH) pushed into uncharted territory Sunday, clearing $4,900 on Coinbase at 5:40 p.m. UTC and surpassing its prior record of $4,867 set on Nov. 8, 2021. The five-year ETH-USD price chart from TradingView shows a clean, multi-year breakout: ETH has finally vaulted the 2021 high after a long consolidation, leaving no historical overhead levels to lean on. This is what traders call price discovery — the market is printing new highs with only psychology and order flow to guide it rather than prior chart resistance. Five-year ETH-USD Chart for Coinbase From TradingView The 5-day view fills in the tape action. After a fast run from the mid-$4,700s, ETH pushed through $4,900 and reached an intraday high around $4,946.90. At the time of the chart snapshot — 6:48 p.m. UTC — the last price was about $4,941.57. That sequence signals buyers absorbed supply near the old ceiling and then forced a fresh high, a classic breakout pattern. Five-day ETH-USD Chart for Coinbase From TradingView Analyst Miles Deutsher summed up the leadership shift as “BTC is exhausted, ETH isn’t.” In plain English, he is flagging relative momentum: bitcoin’s rallies have stalled near recent highs while ether just broke into price discovery. When a market says one asset is “exhausted,” it usually means upside attempts are fading, follow-through is weak, and sellers keep meeting pushes higher; “isn’t” means the opposite — stronger follow-through, fresh highs, and active dip-buying. Traders often rotate toward the asset showing higher relative strength when the other leader tires. Crypto Rover focused on supply on exchanges. “Exchange reserves” refers to coins held in wallets controlled by centralized trading venues. When those balances trend down, fewer coins are immediately available to sell. If demand rises as liquid supply thins, price can accelerate because buyers must bid higher to coax coins off-exchange back into circulation. That is the mechanic behind his “supply shock” phrasing — not a guarantee of straight-up prices, but a setup where scarcity can magnify moves once momentum starts. Michaël van de Poppe offered a risk check. He highlighted the unusually large weekly candle and cautioned that weekend breakouts often retrace when liquidity normalizes early in the week. The idea is simple: weekend order books can be thinner, so moves extend more easily; when fuller participation returns on Monday, prices sometimes retest the breakout area to confirm it as support before trending again. In practice, that means a pullback toward the breakout zone would not, by itself, negate the larger bullish break you see on the 5-year chart. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy. Siamak Masnavi Siamak Masnavi is a researcher focused on blockchain technology, cryptocurrency regulation and macroeconomic forces shaping digital assets — including interest rate policy, capital flows and adoption trends. He holds an MSc and PhD in computer science from the University of London and began his career in software development, with nearly four years in the banking sector in London and Zurich. Since April 2018, he has been writing about the crypto industry. His focus shifted primarily to research in November 2024, though he continues to contribute regularly to industry reporting. AI Boost “AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy. More For You Bitcoin Chalks Out Lower Price High After Powell, Ether Prints Doji at Lifetime Peak Bitcoin has retraced to pre-Powell levels, maintaining bearish technical setup. What to know: Bitcoin has retraced to pre-Powell levels, maintaining bearish technical setup. Key support for BTC lies at $110,756, with a significant support zone near the 200-day simple moving average at $100,887. Ether’s chart shows doji candle and bearish divergence on the RSI. Read full story Read More