Latest Crypto News | Bitcoin, Ethereum and Altcoin Updates

On August 7, PancakeSwap launched on-chain stock perpetual contracts, enabling DeFi traders to speculate on major U.S. equities—Apple (AAPL), Amazon (AMZN) and Tesla (TSLA)—with up to 25× leverage. These non-expiring derivatives settle in cryptocurrency and operate without intermediaries, KYC or brokerage accounts. Users can go long or short directly from their crypto wallets during U.S. market hours. PancakeSwap’s new stock perpetual contracts broaden access to U.S. equities globally and diversify its DeFi derivatives suite beyond cryptocurrencies. Tokenized stocks and perpetual swaps reflect a growing convergence between decentralized finance and traditional markets. Traders should be aware of high risk: adverse price moves can trigger full liquidations, and short positions may incur losses exceeding the initial margin. This launch is poised to boost PancakeSwap liquidity and trading volume, reinforcing its position in DeFi derivatives.

BDACS, a leading South Korean digital asset custodian, has launched regulated institutional-grade XRP custody in partnership with Ripple. The new service, built on Ripple Custody infrastructure, offers secure storage for XRP and support for the RLUSD stablecoin, integrated with major local exchanges Upbit, Coinone and Korbit. Aligned with the South Korean Financial Services Commission’s roadmap, this move addresses surging institutional demand and paves the way for tokenization and on-chain settlements within the Busan Blockchain Free Zone. BDACS officials also eye partnerships with Avalanche (AVAX) and Polymesh to expand tokenized asset services. The expansion boosts market confidence and positions Korean institutions to capitalize on the projected $16 trillion global digital asset storage opportunity by 2030.

TAO Synergies, the Nasdaq-listed digital asset vault formerly known as Synaptogenix, has built a 42,111-TAO-token treasury on the Bittensor network through purchases and active staking. In July, TAO Synergies invested $10 million to acquire 29,899 TAO at an average price of $334 per token, boosting its position as the largest publicly traded Bittensor treasury. Supported by BitGo custody and staking infrastructure, the firm will continue accumulating TAO to enhance staking revenue and reinforce network security. With Bittensor’s market capitalization near $3.3 billion and TAO trading around $345, TAO Synergies aims to drive token appreciation and shareholder value. Another major holder, xTAO, held 41,538 TAO in July, reflecting rising institutional interest in decentralized AI assets.

Roman Storm, co-founder of Tornado Cash, was convicted on August 6 of conspiracy to operate an unlicensed money transmitting service, marking the first U.S. conviction in the Tornado Cash case. The jury deadlocked on charges of conspiracy to commit money laundering and violating North Korea sanctions, effectively acquitting him on those counts. He faces up to five years in prison at a sentencing hearing later this year. Prosecutors’ bid to revoke his $10 million crypto-backed bail was denied by Judge Katherine Polk Failla, who cited Storm’s compliance and U.S. family ties. Supporters have raised over $3 million for his defense, reflecting the industry’s split over DeFi privacy tools. The mixed verdict underscores escalating regulatory scrutiny of decentralized finance (DeFi) platforms and privacy mixers. U.S. authorities argue Tornado Cash enables money laundering, while advocates warn that aggressive oversight could stifle innovation and user privacy. Traders should monitor potential compliance mandates for DeFi protocols and shifting enforcement trends, particularly around Tornado Cash and privacy-focused tokens. In the short term, the verdict may dampen sentiment for privacy coins, but it also clarifies legal risks for mixer services. Long-term implications include possible new DeFi regulations or intensified enforcement actions. Crypto traders must watch for DOJ retrial decisions and evolving regulatory frameworks that could reshape market structures and trading strategies.

MetaMask and Stripe have teamed up to launch mmUSD, a US dollar–pegged stablecoin leveraging Stripe’s financial infrastructure and Stripe Bridge. Settled on the off-chain M⁰ network, mmUSD aims to deliver rapid, scalable transactions with high liquidity. Integrated into MetaMask’s 30 million+ user wallet, mmUSD supports altcoin swaps, DeFi lending and yield farming via Aave v3 pools on Ethereum and Linea. Positioned to rival leading stablecoins USDC and USDT in the $250 billion market, mmUSD offers on-chain regulatory compliance, fiat on-ramps, minimized volatility and a Seed Vault security mechanism. Benefiting from clear frameworks like the GENIUS Act, mmUSD reinforces the digital dollar’s dominance and boosts merchant payments and DeFi adoption.

Smarter Web Company, a UK-listed tech firm, has issued a $21 million Bitcoin bond via its Smarter Convert financing tool. The interest-free, Bitcoin-denominated convertible bond was fully acquired by French asset manager TOBAM across three managed funds. Investors can convert to shares at a 5% premium to the reference price; mandatory conversion is triggered if the share price rises 50% above the conversion price over a sustained period. The 12-month bond offers a 98% refund guarantee in Bitcoin, with repayments adjusted to the BTC price at maturity. This first UK Bitcoin bond enables Smarter Web to secure growth capital without immediate equity dilution and boost its Bitcoin reserves by roughly 30% of its cash holdings, now totaling over 2,050 BTC. The issuance may set a template for future crypto-aligned corporate financing.

Binance futures volume reached $2.55 trillion in July, driving global crypto derivatives volumes to a six-month high and representing over 50% of total CEX futures activity. Competitors OKX and Bybit logged $1.09 trillion (25% market share) and $929 billion (20%), respectively. Daily Binance futures trades peaked at $134 billion on July 18, with an $82 billion average, while Bitcoin futures open interest rose to $88 billion mid-month before easing to $79 billion. A late-July sell-off caused $1.5 billion in liquidations and dragged BTC funding rates into negative territory, signaling bearish sentiment. Concurrently, Binance’s monthly active addresses tumbled 57.5%, from 800,000 in June to 340,000 in August, and the overall crypto market cap declined from $4 trillion to $3.7 trillion. The surge in Binance futures volume and elevated open interest suggests potential for heightened market volatility. Traders should watch BTC funding rates, leverage levels, and user activity when assessing short- and medium-term Bitcoin positions.

MEXC Ventures led a US$200 million strategic investment in Indonesia’s oldest fully licensed crypto exchange, Triv, valuing the platform at US$200 million. Established in 2015, Triv serves over 3 million users and offers more than 1,000 cryptocurrency assets, including BTC, ETH and USDT pairs, plus futures trading and staking products. The exchange holds dual regulatory approvals from Indonesia’s OJK and BAPPEBTI, reinforcing trust and transparency. Through this partnership, MEXC Ventures aims to enhance Triv’s liquidity, expand its coin offerings and introduce innovative trading products for both new and experienced traders. Leo Zhao, Investment Director at MEXC Ventures, emphasised that backing a compliant market leader like Triv will accelerate crypto adoption in Indonesia and strengthen market confidence. The funding aligns with MEXC Ventures’ long-term strategy to support regulated, high-growth projects and diversify geographically across Southeast Asia. By injecting capital into Triv, MEXC Ventures reinforces its commitment to compliant cryptocurrency trading and positions itself for further regional expansion. Traders can anticipate improved trading depth and access to a broader range of tokens on Triv. This move is likely to intensify competition among regional exchanges and could have bullish implications for the Indonesian crypto market.

Crypto lenders face tighter rules after a landmark SEC settlement. MyConstant founder Huynh Tran Quang Duy agreed to a $10.5M SEC settlement. He will disgorge $8.3M, pay $1.5M in prejudgment interest, and a $750,000 civil penalty within 14 days. MyConstant had raised over $20M from 4,000 U.S. investors for crypto loans offering 6–10% yields. Instead, Duy diverted $415,000 for personal use and deployed $11.9M in TerraUSD (UST) via Anchor Protocol. When UST collapsed in May 2022, nearly $8M of customer assets evaporated, prompting MyConstant’s shutdown. A Fair Fund may distribute recovered funds to investors. This SEC settlement underscores the risks of algorithmic stablecoins and crypto lending models and signals stronger regulatory scrutiny.

Bitwise CIO Matt Hougan says the SEC crypto pivot under Chair Paul Atkins remains underpriced by markets. In a July address, Atkins outlined a pro-crypto vision to integrate blockchain, launch super apps merging trading and payments, and clarify rules via Project Crypto. Since Trump’s election and Gary Gensler’s exit, Bitcoin and other tokens have rallied. Hougan calls Atkins’ speech the most bullish crypto document he’s read. He notes that the market has yet to price in rescinded enforcement actions and regulatory clarity, predicting 10x–100x growth in DeFi and trillion-dollar upside for platforms like Coinbase and Robinhood. Traders should reassess portfolios and boost digital asset allocations ahead of further gains driven by this SEC crypto pivot.

Bitcoin ETFs recorded a fourth consecutive day of net outflows on August 5, shedding $196.2 million. Fidelity’s FBTC led with $99.1 million withdrawn, followed by BlackRock’s IBIT ($77.4 million) and Grayscale’s GBTC ($19.7 million). Despite selling pressure from ETFs, institutional investors snapped up the dip, adding about 630 BTC (around $70 million) on the same day, including UK-based Vaultz Capital’s purchase of 47.85 BTC. Bitcoin traded near $114,000 at press time, down from its July peak of $123,100. Market analysts remain divided on the short-term outlook: Fundstrat’s Tom Lee maintains a $250,000 target for 2025, Bitwise’s Matt Hougan predicts a 2026 breakout driven by wider adoption, while Arthur Hayes warns of a possible drop to $100,000 amid macroeconomic headwinds before resuming an upward trend. Trading volatility may rise as net outflows exert selling pressure, but ongoing institutional demand and long-term bullish sentiment suggest potential buying opportunities. Traders should closely monitor Bitcoin ETF flows, institutional buying data and broader market indicators for entry and exit signals.

Three listed companies—Bit Mining, Upexi and DeFi Development—have significantly expanded their Solana (SOL) holdings to capture Solana staking rewards and strengthen network infrastructure. Bit Mining bought 27,191 SOL ($4.5M) and launched a self-operated validator, while Upexi increased its stake from 735,692 SOL to over 2M SOL in July, earning about 8% annualized yield (~$65K daily). DeFi Development added 110,466 SOL, bringing its total to over 1.2M SOL for multi-validator staking. Together, these top four corporate holders control more than 3.5M SOL—0.65% of circulating supply—valued at $591M. BitGo attributes this trend to institutional diversification beyond Bitcoin, with firms raising over $500M to fund Solana reserves and ecosystem infrastructure. This surge in Solana staking is likely to tighten supply and enhance network security, offering bullish prospects for SOL traders.

Indonesia’s Bitcoin Indonesia group has pitched a national Bitcoin reserve to Vice President Gibran Rakabuming Raka’s office. The Bitcoin reserve strategy hinges on Bitcoin mining powered by hydroelectric and geothermal energy. It includes a nationwide Bitcoin education program to drive crypto adoption. The proposal cites Michael Saylor’s price forecasts of US$13 million per BTC in a base scenario and US$49 million in a bull case by 2045. Indonesia’s stable fiscal backdrop, with a 39% debt-to-GDP ratio and 0.76% inflation, supports using Bitcoin as a hedge against future risks. Officials also reviewed recent crypto regulation and tax policy. Crypto trading remains legal, while payments in crypto are banned. Income tax on local trades doubled to 0.21%, foreign trades now taxed at 1%, and VAT on mining rose to 2.2%. These discussions signal growing crypto regulation and long-term economic planning in Indonesia.

Pepeto, a new memecoin combining viral appeal with real blockchain utility, has raised $5.9 million in its Stage 6 presale at $0.000000145 per token. Backed by over 100,000 community members and audited by SolidProof and Coinsult, the project features robust tokenomics: 30% presale, 30% staking rewards with up to 255% APY, 12.5% liquidity, and 27.5% for marketing and development. Unlike typical meme tokens, Pepeto launched PepetoSwap, a zero-fee trading platform, and a cross-chain bridge to tackle high fees and fragmented liquidity. Currently, Pepeto is in advanced talks for a Binance listing within five months, which could significantly boost trading volume and visibility. Analysts forecast a $1 billion market cap, implying up to 6,900× gains if token prices hit $0.001. Traders can participate in the memecoin presale by swapping ETH, USDT or BNB on the official site, positioning Pepeto as a high-reward opportunity in the memecoin sector.

MEXC Ventures has acquired an undisclosed stake in Indonesia’s Triv Exchange, valuing the platform at $200 million. The investment marks a key step in MEXC Ventures’ Southeast Asia crypto expansion. Founded in 2015 and regulated by Indonesia’s OJK and BAPPEBTI, Triv Exchange serves over 3 million users and offers trading pairs like BTC, ETH and USDT, plus memecoins and US stock products. The funding will boost liquidity, expand product lines and upgrade infrastructure, enabling new financial services via CryptoWave Media. Recent regulatory changes—removal of VAT on crypto purchases and adjusted mining and trading fees—helped Indonesia’s crypto trading volume exceed IDR 650 trillion (~$40 billion) in 2023. Analysts say the deal is a bullish signal for the Indonesia crypto market, likely to draw more global firms and strengthen Southeast Asia’s position as a major crypto hub.

In a staff statement, the U.S. Securities and Exchange Commission (SEC) clarified that liquid staking activities and related tokens do not constitute securities offerings under the Securities Act of 1933 or the Securities Exchange Act of 1934. The guidance reduces regulatory uncertainty for proof-of-stake networks and staking service providers, following input from firms such as Jito Labs, VanEck, Bitwise Investments and MultiCoin Capital on planned Solana ETPs. SEC Chair Paul Atkins described the clarification as a key milestone in Project Crypto’s efforts to refine crypto regulation, though he noted it is non-binding. Traders should monitor how DeFi platforms offering liquid staking derivatives respond, as clearer legal boundaries could boost demand for popular tokens and reshape DeFi strategies. This nuanced approach may spur innovation and wider market participation in liquid staking.

Bitcoin veteran Robert Kiyosaki warns of the historical “August Curse,” noting that BTC has fallen in eight of the past 12 Augusts with a median dip of 7.5%. He’s eyeing a buy-the-dip zone below $90,000 and plans to increase his holdings from 73 BTC to 100 BTC by year-end if that level breaks. Bitcoin traded around $112,000–$114,000 in early August and faces resistance at $115,000; analysts see a break above $115,000 unlocking a move toward $118,000, while a drop below $110,000 could trigger further pullbacks. Framing Bitcoin, gold and silver as crisis hedges against U.S. debt and Fed policy risks, Kiyosaki maintains a long-term BTC target of $250,000 by 2025 and views near-term fear as a buying opportunity.

Dreamcash has opened an invite-only waitlist for its new crypto trading platform, integrating Hyperliquid’s infrastructure (over $10 billion in daily volume) for deep liquidity and institutional-grade execution. Scheduled for a September 2025 launch, the mobile-first platform offers frictionless, zero-KYC onboarding. The crypto trading platform combines AI-driven market analysis, delta-neutral yield strategies, and automated strategies to democratize wealth building. A social-style interface grants professional-grade tools and intelligent insights. Early adopters earn points through engagement and referrals. Dreamcash will roll out invitations continuously at dreamcash.xyz, gathering feedback ahead of full launch. Traders can expect streamlined portfolio management and enhanced market access.

AMINA Bank AG, a FINMA-regulated Swiss bank in Zug, has become the first regulated institution to offer institutional SUI trading and custody services. The platform provides compliant, no-volume-cap SUI trading, full deposit and withdrawal governance, and is set to launch staking in the coming months. SUI trading is live at $3.46 amid $1.35 billion 24-hour volume and 1.4% volatility, underlining growing market activity. This move coincides with rising institutional conviction in the Sui blockchain. Total value locked has topped $2.2 billion, and ETF filings by Canary Capital, 21Shares and Bitwise are under SEC and Nasdaq review. Nasdaq-listed Mill City Ventures committed $450 million to a public SUI treasury, acquiring 76.8 million SUI at an average price of $3.64, backed by Pantera, Electric Capital and Galaxy Digital. As a fast, scalable Layer-1 solution, SUI trading and custody services reinforce the token’s appeal for enterprise settlement and broader market adoption.

David Bailey, founder of Bitcoin Magazine and manager at Nakamoto Holdings, is raising up to $200 million to establish a Bitcoin PAC in Washington, D.C. The PAC will lobby for pro-Bitcoin policies, including abolishing capital gains tax on BTC, securing self-custody rights and introducing crypto education in schools. It also incorporates community proposals such as open-source developer protections, allowing foreign debt repayments in Bitcoin and debating a return to full-reserve banking. Bailey aims for long-term Bitcoin price growth toward $10 million and cites Coinbase’s Fairshake — which spent over $130 million in the 2024 cycle — as proof of concept. Legal requirements include FEC registration, appointing a treasurer and reporting expenditures. Critics warn of shareholder backlash and lawsuits over corporate political funding. If successful, this Bitcoin PAC could significantly influence U.S. crypto regulation and market trajectories.

Coinbase has launched a private placement of $2 billion in senior unsecured Coinbase convertible notes, split into $1 billion tranches maturing in 2029 and 2032, with an upsell option of $150 million per tranche to reach $2.3 billion. The convertible notes offer semiannual interest and can convert into Class A shares or cash at predetermined conversion rates. Embedded call options and hedging tools aim to limit equity dilution and offset cash payments above principal. Proceeds will fund working capital, capital expenditure, debt buybacks, and potential acquisitions. Notably, these convertible notes may fund Bitcoin purchases, positioning Coinbase as the first S&P 500 firm to use debt for crypto acquisition. The debt-funded Bitcoin strategy follows a Q2 revenue decline and an 18% drop in Coinbase stock. Benchmark analysts maintain a buy rating, citing long-term growth catalysts. Coinbase also bolstered its Bitcoin reserves to 11,776 BTC.

The U.S. Securities and Exchange Commission (SEC) has issued interim guidance allowing USD-backed stablecoins to be classified as cash equivalents on corporate balance sheets. Under this framework, dollar-pegged stablecoins must maintain a strict 1:1 peg and be fully backed by U.S. Treasury bills with guaranteed redemption rights. The guidance excludes algorithmic and yield-bearing tokens and aligns with the GENIUS Act’s reserve and audit requirements for transparency. While nonbinding, the ruling offers clarity for financial institutions, reduces compliance risk, and simplifies accounting classification. This move could accelerate institutional adoption of stablecoins and bridge traditional finance with digital assets.

The Philippines SEC has blacklisted 10 unregistered crypto exchanges, including Bybit, OKX, KuCoin, Kraken, MEXC, Bitget, Phemex, CoinEx, BitMart and Poloniex, under new August 5 rules. This crackdown on unregistered crypto exchanges aims to protect local investors by stopping unauthorized marketing, potentially issuing cease-and-desist orders, criminal complaints and app-store bans. The SEC will work with Google, Apple and Meta to block promotions and may expand the blacklist. Part of a wider Southeast Asian regulatory tightening—echoed by Indonesia’s tax revisions for overseas platforms—the move could curb offshore liquidity and affect trading volumes. Traders should monitor compliance updates, license status and platform accessibility, as enforcement on unregistered crypto exchanges may prompt asset withdrawals and market volatility.

Since the US spot Bitcoin ETFs launched, Bitcoin volatility measured by 90-day realized volatility has fallen below 40%, marking its lowest level in almost two years. Bloomberg analyst Eric Balchunas notes that implied volatility dipped to 28% in June, while realized volatility ranged between 22% and 25%. This decline comes as BTC price climbed over 250% following BlackRock’s ETF filing. Steady institutional inflows into spot Bitcoin ETFs have created a solid price floor and reduced price swings. The volatility gap between Bitcoin and gold has narrowed to under twice gold’s typical level, highlighting increased market stability. By contrast, Ether volatility remains significantly higher despite the launch of spot ETH ETFs, underscoring that volatility suppression is strongest where ETF flows are largest. Traders may adjust strategies in response to lower volatility and improved market stability.

Binance will temporarily suspend USDC withdrawals on Ethereum, Polygon, Arbitrum, Base and Optimism networks for about two hours on August 6 as part of scheduled wallet maintenance. During this pause, USDC trading remains available and users can withdraw via other supported networks or convert to alternative stablecoins. Services will resume promptly once USDC withdrawals restart. This maintenance follows recent live upgrades to Binance’s wallet infrastructure and past network suspensions on TRON and Cardano. Binance also introduced new features—Discount Buy for advanced crypto purchases at discounted rates and Binance Wallet (Web) with Secure Auto Sign for streamlined desktop trading. Traders should monitor official updates and consider network diversification to enhance asset management and security.

BitMine Immersion Technologies (BMNR) has boosted its Ethereum reserves to 833,137 ETH (approximately $3 billion), solidifying its position as the largest publicly traded ETH holder. The company amassed these holdings in 35 days through a $250 million private placement, equity and convertible-bond financing, and a targeted “5% alchemy” buyback plan aiming to control up to 5% of Ethereum’s total supply. Institutional backers including ARK Invest, Miller Value Partners and Peter Thiel’s Founders Fund have fueled this rally, with ARK Invest alone acquiring over $52 million in BMNR shares since late July and now holding more than $140 million worth. Combined with other institutional vehicles like SharpLink (498,000 ETH) and The Ether Machine (334,000 ETH), total institutional Ethereum reserves now approach 2 million ETH. BitMine has announced plans to launch ETH staking to enhance per-share net asset value, contributing to a 3% rise in its stock price to $32.70. This surge in institutional Ethereum reserves underscores growing confidence in ETH and signals a bullish outlook for the market.

British engineer James Howells, who lost 8,000 BTC in a Newport landfill accident a decade ago, has abandoned recovery efforts and pivoted to a pioneering Bitcoin tokenization plan. He will issue 800 billion Ceiniog Coin (INI) tokens on the Bitcoin main chain via OP_RETURN, mapping each token 1:1 to a satoshi. The INI tokens will integrate with Stacks, Runes, and Ordinals, offering a symbolic asset recovery model despite the original coins being irretrievable. The Ceiniog Coin launch is slated for late 2025. This Bitcoin tokenization experiment underscores new blockchain applications and could set a precedent for value recovery from stranded digital assets. Crypto traders should note that tokenizing lost Bitcoin carries no direct impact on actual BTC supply or market dynamics, but it highlights growing innovation in Bitcoin tokenization projects.

Figure Technology Solutions, led by SoFi co-founder Mike Cagney, has confidentially filed for a $500M–$1B Nasdaq IPO. The SEC Form S-1 spotlights its Provenance blockchain mortgage platform, slashing traditional five-week HELOC processing to under five days with approvals in minutes. In 2024, Figure reported a 30% adjusted EBITDA margin and issued over $16B in home equity loans alongside partners including Goldman Sachs and JPMorgan. It has tokenized $355M of HELOC-backed securities on-chain, earning an S&P AAA rating. The firm recently merged with Figure Markets, which issues YDLS, a yield-bearing stablecoin serving as a tokenized money market fund. This expansion underscores its focus on real-world asset (RWA) tokenization. This IPO follows a growing pro-crypto regulatory trend for blockchain mortgage platforms, mirroring listings by Circle, BitGo and Grayscale. Traders should monitor regulatory feedback, IPO pricing signals and market sentiment as indicators for RWA adoption. Key challenges include navigating multi-state and federal compliance, sustaining loan demand amid high interest rates and safeguarding user data and on-chain assets.

An Ethereum whale short position update: A single whale opened a $100 million, 25x leveraged short on 27,000 ETH at $3,637 per ETH, using 3.32 million USDC margin. As ETH rallied above $3,828, the Ethereum whale short flipped from a $12.25 million unrealized gain into a $2.32 million floating loss, highlighting the risks of high-leverage strategies. This sharp reversal has amplified ETH volatility across derivatives platforms. Analysts warn that forced liquidations could further strain liquidity and trigger steeper price swings. Crypto traders should monitor this Ethereum whale short activity, track key support levels, and adjust risk management to anticipate potential corrections or rebounds in the ETH market.