Latest Crypto News | Bitcoin, Ethereum and Altcoin Updates

Bullish exchange completed its inaugural NYSE IPO, raising $1.15B entirely in stablecoins. Jefferies managed the minting, exchange and delivery of various tokens—primarily Solana stablecoins such as USDC and EURC, alongside Paxos USDG, PayPal PYUSD, Ripple RLUSD, Agora AUSD and USD1—custodied by Coinbase. CFO David Bonanno highlighted stablecoins’ role in fast, secure cross-border transfers. Solana Foundation President Lily Liu described the offering as a merger of public markets with blockchain rails, while Coinbase VP Greg Tusar called it a transformative step for digital assets. The IPO issued 30M shares at $37 each and debuted under ticker BLSH at $90—a 143% jump—peaking at $117 before retreating to ~$59 within its first week. Backed by Peter Thiel and a crypto-friendly US regulatory environment, this successful Solana stablecoins settlement marks a milestone for integrating blockchain-based stablecoins into traditional finance and could accelerate broader stablecoin adoption.

On August 18, the U.S. Securities and Exchange Commission (SEC) extended review deadlines for several spot crypto ETF proposals. It pushed the Truth Social Bitcoin and Ethereum ETF decision to October 8. Solana ETF filings from 21Shares and Bitwise now face an October 16 deadline. The 21Shares Core XRP Trust will be decided by October 19. Each spot crypto ETF would hold its underlying asset—BTC, ETH, SOL or XRP—and issue shares directly backed by these coins. The SEC also plans rule changes to streamline ETP listings for tokens with established futures markets. Analysts predict that if approved, new ETP rules could fast-track crypto ETF approvals next month. A wave of spot crypto ETF launches this October may boost institutional access to Bitcoin and altcoins. Traders should monitor these regulatory updates closely. Delays and potential ETP reforms could affect market demand, liquidity and price action across major tokens. Adjust strategies accordingly.

South Korea’s Financial Services Commission has temporarily suspended new crypto lending services after significant liquidations at local exchange Bithumb. In June, around 27,000 users accessed Bithumb’s lending platform, with about 13% forced into liquidation amid volatile markets. Regulators cited inadequate user protections and risks to market integrity, pausing new lending until a Virtual Asset Leasing Services Guide is published. Meanwhile, Galaxy Digital reports outstanding crypto-collateralized debt on centralized and decentralized platforms has risen to $44.25 billion, a 30% quarter-on-quarter increase. Traders should monitor regulatory updates and leverage indicators as this move underscores growing scrutiny of crypto lending and market leverage. In the short term, reduced leverage may lower liquidity and trigger bearish sentiment; in the long term, clearer rules could foster stability and attract institutional participation.

Chamath Palihapitiya has filed an SEC registration to raise $250M for American Exceptionalism Acquisition Corp A, a DeFi SPAC targeting decentralized finance and artificial intelligence projects. The SPAC plans to list 25 million shares on the NYSE under ticker AEXA at $10 per share, with Palihapitiya as chairman and Social Capital partner Steven Trieu as CEO. This DeFi SPAC aims to bridge traditional finance and blockchain, investing in AI-powered DeFi solutions and citing Circle’s successful SPAC listing as evidence of DeFi’s potential to reduce intermediaries. The move comes amid heightened market volatility and follows Gemini’s preparation for a Nasdaq IPO under symbol GEMI, highlighting growing institutional interest in crypto-related listings. While Palihapitiya’s prior SPAC ventures have had mixed results, this latest DeFi SPAC underscores the expanding intersection of finance and blockchain.

Gemini IPO has filed its S-1 to list on Nasdaq under the ticker GEMI. In H1 2025, the exchange reported a net loss of $282.5 M, up from $41.4 M a year earlier, with revenue sliding to $68.6 M due to higher legal fees, staff costs and lower trading volumes. To strengthen liquidity, Gemini secured a $75 M revolving credit facility from Ripple Labs, expandable to $150 M, with loans in the RLUSD stablecoin. The deal highlights emerging crypto-native funding models. Ahead of the listing, Gemini also unveiled a dual-entity structure: New York–based Gemini Trust Company will handle custody and regulated services, while Florida–based Moonbase runs the main trading platform to navigate licensing requirements. With Goldman Sachs, Morgan Stanley, Citigroup and Cantor Fitzgerald as lead underwriters, the Gemini IPO follows similar moves by Circle and Bullish. Despite steep losses, the Gemini IPO aims to raise capital to expand the trading platform and attract institutional investors as the crypto market matures.

Bitcoin price initially dipped below $118,000 on OKX, sliding 0.24% intraday, before briefly testing the $115,000 mark on August 19 with a 1.04% decline to $114,948.80. The drop reflects mild bearish pressure and profit-taking around the psychological $115K support. With few catalysts driving the move, this pullback underscores trader sentiment and volatility near key thresholds. Crypto traders should monitor if Bitcoin price can reclaim $115,000 to confirm renewed bullish momentum or face further short-term pressure.

Jeju City rolled out a crypto tax enforcement campaign using AI detection tools to target nearly 3,000 residents with unpaid bills over ₩1 million. Authorities analyzed data from Upbit, Bithumb, Coinone and Korbit, identifying 49 individuals hiding about ₩230 million in Bitcoin and other digital assets. By designating exchanges as third-party debtors, officials froze assets and recovered some ₩19.7 billion in back taxes. This crypto tax enforcement drive builds on South Korea’s broader efforts since 2021, resulting in over $180 million in seizures, including a $144,000 Gangnam District operation this year. Tax chief Hwang Tae-hoon says AI tools will strengthen delinquency response, boost collections and foster honest tax compliance. With 16 million local users and new crypto regulations pending, authorities aim to deter hidden assets and ensure fair reporting.

The Japan FSA plans to approve the first regulated yen stablecoin by fall 2025. Issued by JPYC under the Payment Services Act, the yen stablecoin will maintain a 1:1 peg through bank deposits and government bonds. JPYC will register as a money transfer business by August and aims to issue roughly $6.7–7 billion of yen stablecoin over three years. Licensed banks, trust companies and registered providers will manage issuance to ensure compliance. The yen stablecoin will enable faster, cheaper cross-border remittances and support DeFi integration in Japan. It also offers a domestic fiat alternative to dollar-pegged tokens such as USDT and USDC. This move follows the June 2023 amendment recognising fiat-pegged tokens as Electronic Payment Instruments and marks a key advance in Japan’s stablecoin regulation.

On August 17, Qubic Group’s mining pool briefly achieved over 51% hashrate on Monero, executing a six-block reorganization as a proof-of-concept 51% attack. The community then voted to target Dogecoin over Zcash and Kaspa in its next ASIC-friendly 51% attack stress test. Qubic founder Sergey Ivancheglo says these tests validate the pool’s useful PoW model and fund QUBIC token buybacks. After Monero’s block reorg, exchanges like Kraken paused XMR deposits, highlighting security concerns. Although Dogecoin’s merged-mining with Litecoin and higher hashrate make a similar attack costlier, traders should monitor technical logs, developer responses, and any timeline for action. The move underscores risks of mining centralization and potential market confidence impacts for DOGE.

On-chain data from Glassnode shows 93.92% of XRP supply is in profit after climbing above $3. Historically, profit rates above 90% have marked macro tops for XRP, as seen in early 2018 and April 2021, which preceded declines of 95% and 85%. The NUPL indicator has entered the “belief–denial” zone, signaling peak risk. Technically, XRP trades inside a descending triangle with support at $3.05. A break below could trigger a 20–23.5% correction toward $2.39, while a rally above the falling resistance could negate bearish signals and push prices toward $6. Traders should monitor on-chain metrics and technical levels to gauge XRP’s short-term outlook.

Last week, the NFT market cap fell 12%, dropping from $9.3 billion to $8.1 billion, as ETH slid 9% from $4,700 to $4,260, wiping out $1.2 billion in sector value. Data from NFT Price Floor highlights the close link between NFT market cap and Ethereum performance. Major collections saw uneven impacts: CryptoPunks lost $300 million in valuation to reach a $2.1 billion cap while weekly sales plunged 34%. The Bored Ape Yacht Club slid nearly 20% to $482 million, moving from second to third place. Pudgy Penguins, supported by BTCS Inc.’s acquisition, climbed to second despite a 17% drop, with a $491 million market cap. This downturn raises liquidity challenges and uncertain price discovery amid volatile ETH, yet it may clear speculative froth and offer buying opportunities. Traders should monitor ETH momentum, diversify NFT positions, research project roadmaps and on-chain metrics, and focus on utility-driven projects to navigate short-term dips and target long-term gains.

S&P DJI is collaborating with leading exchanges, custodians and DeFi protocols to issue tokenized index products. Following its 2024 pilot with Centrifuge to bring the S&P 500 on-chain, the firm will list tokenized indices only on platforms meeting strict transparency, security and regulatory compliance standards. Future launches may include tokenized versions of the Dow Jones Industrial Average and thematic benchmarks. The strategy aims to bridge TradFi and DeFi, boost institutional adoption of on-chain benchmark exposure, and enhance accessibility. By 2030, tokenized index products could become key liquidity drivers and underpin innovative DeFi investment strategies.

Galaxy Digital has secured a $1.4 billion secured term loan to fund about 80% of phase-one construction of the Helios AI Data Center in West Texas. The 36-month facility, backed by assets of its Galaxy Helios I subsidiary, matures in August 2028 and complements a $350 million equity investment. Under a 15-year pact with GPU provider CoreWeave, Galaxy Digital will initially power 260 MW of AI and high-performance computing workloads, scaling to 3.5 GW at full buildout. Power delivery is slated to begin in early 2026, with the Helios AI Data Center expected to yield over $1 billion in annual revenue, potentially totaling $15 billion over the agreement’s term. Shares of Galaxy Digital dipped after the announcement, reflecting market uncertainty over the pivot from Bitcoin mining to AI infrastructure. This move underscores Galaxy Digital’s strategy to diversify beyond crypto mining and secure stable, long-term revenue streams in the AI infrastructure sector.

Under the GENIUS Act, the US Treasury has opened a public consultation until October 16, 2025, on deploying digital identity solutions to strengthen AML and crypto compliance. The proposals include embedding verifiable identity credentials in DeFi smart contracts, linking wallets to government-issued IDs, and using APIs and AI for real-time monitoring. Stakeholders are invited to comment on technical, cost, privacy, and security considerations. With over $3 trillion in crypto market value, including $200 billion in stablecoins and $150 billion in DeFi assets, the move aims to curb up to $20 billion in annual crypto laundering. A pilot program is expected by mid-2026 in coordination with the IRS and SEC. By integrating on-chain digital identity checks, regulators seek to balance innovation with tighter oversight, potentially shaping global DeFi regulation.

Brevan Howard has increased its stake in BlackRock’s Bitcoin ETF (IBIT) to $2.32 billion, surpassing Goldman Sachs’ previous $1.4 billion holding. The hedge fund now manages over 37.5 million IBIT shares, making it the largest institutional Bitcoin ETF investor. BlackRock’s IBIT ETF has grown to more than $90 billion in assets under management, accounting for 3.57% of Bitcoin’s total supply. On August 14, Bitcoin ETFs recorded $523.7 million in net inflows, underlining strong institutional demand and boosting market liquidity. This growing institutional investment through a regulated Bitcoin ETF lowers entry barriers, enhances price stability, and signals a maturing crypto market. Traders should watch IBIT ETF inflows and other institutional strategies for momentum and risk-adjusted entry points.

Ethereum price has established firm support above $4,500 after a rally from $3,200 in July, bolstered by the 200-day SMA near $3,853. The digital asset currently consolidates between $4,440 and $4,700, guided by the 50- and 100-hour SMAs and a rising trend line. Immediate resistance lies at $4,750–$4,800, with critical hurdles at $4,880. A breakout above $5,000 could drive Ethereum toward $5,150 and potentially to $5,300–$5,500. Technical analysis shows an RSI around 59 and bullish momentum in the hourly MACD. Traders may consider buying dips near the $4,350–$4,440 zone with stops under $4,350, or targeting a breakout entry above $5,000.

Canary Capital CEO Steven McClurg forecasts that Bitcoin price will hit $140K–$150K by end-2025, fueled by unprecedented spot Bitcoin ETF inflows and growing institutional investment from sovereign wealth funds, pension funds and corporate treasuries. McClurg warns a bear market could emerge in 2026, highlighting digital assets’ volatility. He has also filed altcoin ETF applications for XRP, SUI, TRX, CRO, LTC and the Trump meme coin (TRUMP). McClurg remains skeptical of Ethereum, calling it an outdated network despite ETH’s recent rally. Other analysts offer mixed views: trader Yashasedu sees Ethereum climbing to $8,656 if Bitcoin price reaches $150K, while Standard Chartered raised its 2025 ETH target to $7,500. Traders should monitor Bitcoin ETF flows, institutional backing and seasonal volatility ahead of the predicted cycle top.

BitMine Immersion Technologies has extended its Ethereum treasury to approximately 1.29 million ETH. The firm added 135,000 ETH in large-scale purchases and later acquired 28,650 ETH via OTC trading worth around $130 million. These moves cement BitMine’s status as the largest corporate holder of Ethereum and reduce circulating supply. The increased demand coincided with an Ethereum price rebound and raised concerns over staking congestion, as validator queues lengthened and network liquidity tightened. Traders should note that tightened supply and strong institutional investment signal a bullish outlook for Ethereum. However, rising demand for staking services may temporarily strain network capacity. Overall, BitMine’s strategic accumulation underlines growing market confidence in Ethereum and could influence both short-term trading strategies and long-term investment decisions.

Ethereum institutional holdings have climbed to over 10.2 million ETH, with corporate treasuries holding around 3.7 million ETH and spot and futures ETFs accounting for 6.5 million ETH. This uptick underscores growing confidence in Ethereum’s Proof-of-Stake network, DeFi ecosystem, NFTs and Web3 applications. Staking activity has accelerated, enhancing network security and reducing circulating supply. Major players such as BitMine Immersion Technologies are boosting their treasury stakes amid broader market shifts toward ETH-based investments. For traders, the convergence of ETF inflows and heightened staking suggests potential upward pressure on ETH prices in the short term, while improved network resilience supports long-term stability. Ongoing discussions on spot ETH ETF approvals and planned network upgrades may attract further institutional capital.

US Justice Department unsealed six warrants to seize over $2.8 million in cryptocurrency, $70,000 in cash and a luxury vehicle from alleged ransomware mastermind Ianis Aleksandrovich Antropenko. He faces charges in the Northern District of Texas for computer fraud, money laundering and deploying the Zeppelin ransomware strain against US and international victims. Investigators say Antropenko and accomplices encrypted data, stole sensitive information and demanded crypto ransom payments. They laundered funds using services like ChipMixer and structured cash deposits to mask the origin. This crypto seizure underscores intensified anti-money laundering efforts and international cooperation in cybercrime enforcement. The FBI’s Dallas and Norfolk offices, the Virtual Assets Unit and the DOJ’s Computer Crime and Intellectual Property Section led the operation. Since 2020, CCIPS has secured over 180 cybercrime convictions, blocked $200 million in ransom payments and recovered more than $350 million for victims.

Deribit will introduce USDC options and quarterly futures for Bitcoin and Ethereum on August 19, 2025. Priced and settled in USDC, these new crypto derivatives eliminate collateral volatility and enhance capital efficiency for traders. Linear options track underlying BTC and ETH prices directly, support margin offsets with existing inverse options, and start from 0.01 BTC and 0.1 ETH, lowering entry barriers. Alongside Solana and XRP USDC offerings from last year, Deribit’s unified margin system lets positions offset risk across products. The exchange also offers a 4% annualized USDC staking reward to incentivize stablecoin collateral. This expansion aligns with industry moves by Coinbase and Circle to bolster USDC as a bridge between fiat and crypto, simplifying accounting and compliance for institutional funds. By broadening its USDC-settled derivatives suite, Deribit aims to boost liquidity, attract institutional and retail traders, and reinforce its leadership in the crypto derivatives market.

The US Treasury will expand its Strategic Bitcoin Reserve using seized assets without new spending. Treasury Secretary Scott Bessent first clarified that no new bitcoin purchases were planned, causing a brief market dip. He later explained on social media that the reserve will grow through budget-neutral pathways with $15–20 billion of confiscated coins and that current liquidations will halt. This mixed messaging on the Strategic Bitcoin Reserve sparked volatility—Bitcoin jumped to $124,000 before reversing on hot US inflation data. Traders should monitor future budget-neutral acquisition plans and policy signals, which could influence market supply dynamics and price stability.

On August 13, security researcher Deebeez revealed that Coinbase’s corporate wallet mistakenly approved Amp (AMP), DEXTools (DEXT), MyOneProtocol (MYONE) and Swell Network (SWELL) to the permissionless 0x swapper contract after a configuration change. MEV bots then exploited the arbitrary call feature and drained about $300,000 within seconds. Coinbase said no customer funds were affected. The exchange has revoked the approvals, moved remaining assets to secure wallets and is reviewing internal approval procedures. The incident underscores the need for robust smart-contract security in DeFi—isolated wallets, approval limits and quick revocation—to prevent MEV exploits.

Vietnam police have dismantled the largest Paynet Coin Ponzi scheme, a cryptocurrency scam that defrauded investors of about $200 million through FMCPAY.com and AFF2024.com. The unlicensed operation, led by Nguyễn Văn Hà and Phan Việt Lập, lured thousands with promises of 5%–9% monthly returns and referral bonuses. Organizers hosted luxury presentations and falsely claimed Paynet Coin tokens were tradable on a US-based exchange and usable for travel bookings. Following coordinated raids in Phu Tho, Hanoi and Ho Chi Minh City on July 15, 2025, authorities arrested 20 suspects, including the two masterminds, and seized $38 million in cash, foreign currency and real estate assets. Police also froze related accounts as investigations continue. Officials warn that anonymous transactions complicate asset recovery in crypto fraud cases and urge investors to verify project legitimacy. This Paynet Coin Ponzi scheme case underscores growing regulatory scrutiny and asset seizure measures in Southeast Asia’s crypto market. Traders should monitor local enforcement trends and exercise caution with high-yield crypto offers.

OKX has implemented a major tokenomics overhaul by burning 65.25 million OKB and capping OKB supply at 21 million. The change removes minting and manual burn functions, creating a deflationary model. OKT tokens will convert automatically to OKB at a 1:9.5 ratio based on July 13–August 12 average prices, as the OKTChain is phased out. OKX is transitioning to X Layer, a Polygon-based zkEVM Layer 2 with 5,000 TPS and near-zero gas fees, integrated across its exchange, wallet, and payment services. The announcement sent OKB price soaring over 200% within an hour, reflecting bullish sentiment. Traders should watch OKB supply dynamics and X Layer adoption, which could drive long-term demand despite short-term volatility.

Wisconsin lawmakers have introduced twin bills (SB 386 and AB 384) to tighten oversight of Bitcoin ATMs statewide. The proposals require operators to obtain a state money transmitter license and enforce strict KYC checks—including government ID, photo, date of birth and contact details—on every transaction. Daily withdrawals are capped at $1,000, and fees limited to $5 or 3% of the transaction value. Each Bitcoin ATM must display a prominent fraud warning and refund victims identified by law enforcement within 30 days. The move responds to a 99% surge in ATM fraud complaints and $247 million in losses reported in 2024, as flagged in a recent FinCEN alert on crypto kiosk risks. Targeting around 582 kiosks, the bills await committee review and would take effect 60 days after enactment. Traders should monitor potential shifts in kiosk usage, fee structures and user trust as tighter KYC and licensing requirements reshape the Bitcoin ATM landscape.

Coinbase will enable WalletConnect Token (WCT) trading on the Optimism network starting August 14 at 9:00 AM PT, pending sufficient liquidity. The integration leverages WalletConnect’s bridge protocol and Optimism’s layer-2 scaling to deliver lower gas fees and faster transactions for DeFi and NFT markets. Traders should monitor WCT liquidity and volatility, as increased accessibility often boosts trading volume and price movements. This update underscores Coinbase’s commitment to Web3 interoperability and could drive WCT adoption and deeper market depth.

Pantera Capital has committed $300 million to fund Crypto Treasuries through Digital Asset Treasury (DAT) firms across the US, UK and Israel. These DATs hold reserves in Bitcoin (BTC), Ethereum (ETH), Solana (SOL), BNB, TON, HYPE, SUI and USDe. Pantera’s strategy focuses on active yield generation, deploying assets via staking, lending and on-chain tactics. Early partners include BitMine Immersion Technologies, which holds 1.15 million ETH, and Metaplanet and The Smarter Web Company, each with over $50 million in BTC. Pantera’s DAT Fund, led by Cosmo Jiang and Erik Lowe, aims for per-share accretion and long-term growth. The move underscores a shift from passive ETFs to on-chain treasury management. Traders should monitor crypto treasuries as institutional demand and yield-seeking strategies intensify.

Ethena ENA has rallied to near $1 as the protocol’s Total Value Locked (TVL) surged past $10.9 billion. The synthetic stablecoin USDe now commands over $10.2 billion in market cap, driven by high APYs and cross-chain expansion. Weekly USD inflows reached $1.33 billion, drawing significant retail and institutional liquidity. Technical indicators are bullish for ENA. A golden cross formed as the 50-day EMA crossed above the 200-day EMA. The RSI is rising and the MACD shows a bullish crossover, though overbought signals warrant caution. Ethena’s $260 million buyback program repurchases about $5 million in ENA daily, reducing circulating supply. Whale accumulation and rising derivatives open interest point to growing professional participation, while spot and futures volumes have surged into multi-billion-dollar ranges. Key support levels stand at $0.75 and $0.68, with immediate resistance between $0.84 and $0.87. A decisive break above $0.87 could target $1.02 and $1.18. Traders should watch buyback cadence, USDe adoption and upcoming token unlocks for further catalysts.