US SEC Allows Ripple to Sell Securities to Private Investors Last Week
Last Friday, after the lawsuit was officially concluded with the SEC and Ripple submitting a joint motion to dismiss the appeal, the SEC allowed Ripple to sell securities to private investors (institutions), which directly contradicts the court ruling, as reported by Beinkcrypto. In the short term, Ripple can secure a new revenue source, but the media noted that this could intensify concerns about the SEC's fairness and neutrality. Former SEC official Mark Pagel explained, "This is unprecedented and essentially contrary to the rule of law, and even if it is illegal, there are no clear procedures to stop it. Someone would need to file a lawsuit only if substantial damage (XRP investment losses) occurs."
FG Nexus Purchases $200 Million in ETH
According to CoinDesk, FG Nexus (formerly Fundamental Global, FGNX) has purchased 47,331 ETH ($200 million), with the goal of securing 10% of the Ethereum network's stake.
Anonymous Whale Purchases Additional 45,000 ETH
LookOnChain reported that "An anonymous whale created two new wallets in the past hour and accumulated 44,999 ETH ($194 million). Over the past 7 days, this whale has withdrawn 266,165 ETH ($1.15 billion) from Falcon X, Galaxy Digital, and Bitgo."
Sharplake Raises $900 Million Last Week..."Reflects ETH Confidence"
Sharplake Gaming, a NASDAQ-listed company strategically investing in ETH, announced that it raised approximately $900 million last week. This demonstrates the market's confidence in its ETH strategy and strengthening perception of Ethereum's long-term potential. Previously, Coinness reported that Sharplake held 598,800 ETH as of August 10th.
US Asset Manager Peg Investments Submits Preliminary Prospectus for High-Yield ETH ETF
Bloomberg ETF specialist Eric Balchunas reported that Peg Investments submitted a preliminary prospectus for a high-yield Ethereum ETF. He added on X that "with significant funds flowing into Ethereum recently, movements to launch related ETFs have become more active."
Anonymous Whale Withdraws Additional 12,000 ETH from Falcon X
OnChainLens reported that "An anonymous whale withdrew an additional 12,020 ETH from Falcon X, amounting to $51.51 million. Currently, this whale holds a total of 233,186 ETH ($1 billion). Exchange withdrawals are typically interpreted as holding purposes."
Marathon Holdings Negotiates Acquisition of French Power Company Subsidiary
Bloomberg reported that BTC mining company Marathon Holdings (formerly Marathon Digital) is in final negotiations to acquire a stake in Exaion, a subsidiary of the French state-owned energy enterprise EDF Group. Marathon Holdings is discussing acquiring 64% of Exaion's shares from EDF Venture Investment for approximately $170 million. Exaion develops and operates high-performance computing data centers and provides cloud and AI infrastructure.
Rumble Acquires Tether Affiliate Northern Data
CoinDesk reported that video sharing platform Rumble plans to acquire cloud computing company Northern Data through a full stock exchange. Tether, which has invested in both companies and is known to support the merger, currently holds about 54% of Northern Data's shares. In this merger, Tether will exchange these shares for Rumble stock and has agreed to purchase GPUs from Rumble for several years. Upon completion of this transaction, Tether will become the largest single shareholder of Rumble Class A common stock.
Uniswap Foundation Applies Wyoming DAO Regulation...Establishes New Legal Entity
The Uniswap Foundation announced the establishment of a new legal entity for protocol governance under Wyoming's DAO (Decentralized Autonomous Organization) 'DUNA' framework, fulfilling regulatory and tax compliance obligations. According to The Block, Uniswap DAO will become the largest DAO adopting this legal framework. Uniswap stated it will pave the way to convert part of LP fees into DAO funds. The Uniswap Foundation's legal counsel explained that this "formalizes Uniswap governance activities while protecting joint decision-making participants."
Stripe Develops Blockchain with Paradigm
Global online payment company Stripe is collaborating with crypto investment firm Paradigm to develop a new blockchain network called Tempo, according to BWE News.
US Senator Again Opposes CLARITY Act Scheduled for September Review
Crypto-critical US Senator Elizabeth Warren from Massachusetts recently expressed opposition to the Digital Asset Market Structure Act (CLARITY) passed by the House, stating in an MSNBC interview that it encourages corruption among elected officials. The CLARITY Act is scheduled for Senate review in September. In June, the Republican leadership of the Senate Banking Committee announced plans to pass the bill by September 30th. The CLARITY Act aims to establish a regulatory framework for the crypto industry, dividing regulatory roles between the SEC and CFTC. It also exempts certain cryptocurrencies from 1933 Securities Act registration requirements under specific conditions.
STG Holders Reject Layer Zero Acquisition Proposal
DL News reported that while Layer Zero pursued Stargate acquisition, STG holders rejected the proposal. The proposal involved converting Stargate's STG tokens to Layer Zero's ZRO tokens and dissolving the Stargate DAO (total cost equivalent to $138 million in ZRO). STG holders criticized it as an "unreasonable proposal that undervalues Stargate's potential and sacrifices existing stakeholders." It remains uncertain whether the acquisition proposal will be voted on in its current form.
Milcity Purchases Additional $20 Million in SUI
Non-bank loan and special financial company Mill City Ventures (NASDAQ ticker: MCVT) has additionally purchased SUI worth $20 million at a slightly discounted price. According to The Block, Mill City, which has signed a token purchase agreement with the SUI Foundation, bought 5,600,607 SUI at an average price of $3.65. Mill City's Chief Investment Officer stated that they also plan to purchase some SUI in the open market. Previously, Coinnews reported that Mill City held 81.87 million SUI as of August 10.
TON Foundation: "Coinbase Ventures Holds TON"
The TON Foundation announced via Telegram that Coinbase Ventures holds TON. They added that they cannot disclose the holding size.
Do Kwon May Withdraw Not Guilty Plea
Judge Paul Engelmeyer of the Southern District of New York stated that Do Kwon, founder of Terraform Labs, can submit a modified answer (plea) on Tuesday (local time). This suggests that Do Kwon may admit guilt for some or all charges. In January, Do Kwon had pleaded not guilty to nine felony charges. According to Cointelegraph, the judge ordered both Do Kwon and the prosecution to appear in court on Tuesday.
Coinbase Delists ERN
Coinbase announced that it will delist ERN on August 23 at 3 PM. This is because the migration bridge from ERN to EPIC was terminated without prior notice.
Whale 7 SIBLINGS Begins Selling After Transferring $47 Million ETH
Arkham reported that 7 SIBLINGS, once an ETH billionaire, is currently selling ETH. 7 SIBLINGS transferred ETH worth $47 million to a new wallet and began selling. They have currently sold ETH worth $17.2 million.
Next Technology Holds 5,833 BTC
Nasdaq-listed Next Technology (NXTT) announced that it holds 5,833 BTC as of the second quarter. This is a significant increase from 833 BTC at the end of 2024.
ETH Outperforms BTC in Annual Growth
The Block reported that ETH has risen by 29% this year, surpassing BTC's growth rate of 28%. This is due to a surge in institutional investor demand.
Wisconsin State Senate Pushes to Mandate KYC for Bitcoin ATMs
Bitcoin.org reported that the Wisconsin State Senate has reintroduced a bill to mandate KYC (Know Your Customer) for Bitcoin ATMs. According to SB386, Bitcoin purchases will require a photo ID, and transaction limits will be set at $1,000.
Spacecoin Announces Season 1 Snapshot for CTC Holders on 8/22
The decentralized satellite-based internet project Spacecoin announced it will conduct a Season 1 snapshot for CTC holders around 10:30 AM (Korean time) on August 22. The snapshot will be performed on Ethereum block #23193117 and Credit Coin block #2059633, with 5% of total token supply to be distributed as rewards. Eligible participants include CTC held on supported exchanges, registered wallets with CTC/G-CRE/wCTC/Non-Fungible Token, and airdrop event participants. Season 1 rewards can be claimed after the Season 2 snapshot, with exchange and payment schedules to be announced later. Season 2 snapshot is expected to offer larger rewards.
US Stock Indices Close Lower
US stock indices closed lower.
S&P500: -0.25%
Nasdaq: -0.30%
Dow: -0.25%
Gold Rises Short-Term... Influenced by Trump's No Gold Tariff
Spot gold prices rose by $12 in 10 minutes. President Trump announced he would not impose tariffs on gold.
Trump Extends China Tariff Negotiation Deadline by 90 Days
Solid Intel reported that President Trump extended the China tariff negotiation deadline by 90 days.
BTC Falls Below $119,000
According to Coinnews market monitoring, BTC has fallen below $119,000. BTC is trading at $118,900.01 on the Binance USDT market.
