Business

August, 2025

• 12 August

  Ethena’s ENA Soars 150% as $10B TVL, Golden Cross Fuel 2025 Rally

  

  Ethena’s governance token, ENA, skyrocketed 150% in the past 30 days, with a 40% spike in the last week, reaching $0.85 on August 12, 2025, per CoinIndexNews. This surge aligns with Ethena’s Total Value Locked (TVL) exceeding $10 billion, driven by its synthetic stablecoin, USDe, now the third-largest stablecoin by market cap, boasting a $3.83 billion valuation. A key driver …
• 12 August

  Nasdaq Firm’s $BONK Bet Backfires, Stock Plunges 50% in 2025

  

  A Nasdaq-listed company’s bold move to invest its treasury in the Solana-based memecoin $BONK has led to a catastrophic 50% stock price drop in August 2025, highlighting the risks of speculative crypto ventures. The firm, which allocated significant funds to $BONK to diversify its portfolio, faced a swift market backlash as the memecoin’s value crashed, reflecting its high volatility and …
• 12 August

  Malaysia Central Bank Eyes XRP, BTC as Monetary Alternatives in 2025

  

  In a groundbreaking move, the Central Bank of Malaysia (Bank Negara Malaysia) released a July 2025 policy paper recognizing XRP and Bitcoin (BTC) as potential monetary alternatives, signaling a shift in Southeast Asia’s financial landscape. The paper, as reported on X, explores how these cryptocurrencies could complement fiat currencies in payments, remittances, and as stores of value, highlighting their transformative …
• 12 August

  Kazakhstan Cracks Down on Crypto Mining’s Massive Energy Drain in 2025

  

  Kazakhstan, a global crypto mining hub, is tightening regulations as miners’ energy consumption rivals that of a small city, straining the national grid. On August 11, 2025, authorities busted a $16.5 million illegal mining scheme in East Kazakhstan, where miners consumed 50 MWh of household electricity, enough for 50,000–70,000 residents, per the Financial Monitoring Agency (AFM). Since China’s 2021 mining …
• 12 August

  Gemini Predicts Next Crypto Boom: Top Coins to Watch in 2025

  

  Gemini, a leading cryptocurrency exchange, has sparked excitement with its 2025 forecast, pinpointing coins poised for explosive growth as the crypto market gears for a potential bull run. On August 8, 2025, Gemini’s X post celebrated XRP enthusiasm, hinting at “something BIG” in the coming weeks, fueling speculation about a market surge. Gemini’s analysis highlights a mix of established and …
• 12 August

  Solana Faces $40M Whale Sell-Offs as Network Challenges Mount in 2025

  

  Solana (SOL), a high-speed blockchain, is grappling with intense selling pressure as major investors, or “whales,” offload millions in SOL tokens, raising concerns about its market stability. On August 12, 2025, Lookonchain reported that three whale wallets moved 226,000 SOL, worth $40 million, to exchanges like Kraken and Binance, signaling potential profit-taking or strategic shifts. This follows a pattern of …
• 12 August

  Bithumb Slashes Crypto Lending Amid South Korea’s Regulatory Crackdown

  

  South Korea’s leading cryptocurrency exchange, Bithumb, has drastically scaled back its crypto lending services following intense regulatory pressure from the Financial Services Commission (FSC) and Financial Supervisory Service (FSS). On August 11, 2025, Bithumb reduced its leverage ratio from 4x to 2x and slashed its maximum lending cap by 80%, from 1 billion won ($718,298) to 200 million won ($143,600), …
• 12 August

  Metaplanet Boosts Bitcoin Reserves by 518 BTC, Surpasses 18,000 BTC Total

  

  Japanese investment firm Metaplanet Inc. has solidified its position as a leading corporate Bitcoin holder by acquiring 518 BTC for $61.4 million on August 12, 2025, at an average price of $118,519 per coin. This purchase elevates its total reserves to 18,113 BTC, valued at approximately $2.15 billion, making it the sixth-largest publicly traded Bitcoin holder globally, per BitcoinTreasuries. Under …
• 12 August

  Do Kwon to Plead Guilty in $40B TerraUSD Crypto Crash Case

  

  Terraform Labs co-founder Do Kwon is set to plead guilty in a U.S. fraud case tied to the 2022 TerraUSD (UST) stablecoin collapse, which erased $40 billion in market value, shaking the cryptocurrency industry. A hearing is scheduled for August 12, 2025, at 10:30 a.m. EDT in Manhattan federal court, as per U.S. District Judge Paul Engelmayer’s order. Kwon, extradited …
• 12 August

  Trump Media Amends Bitcoin ETF Filing, Crypto.com Bolsters Custody Services

  

  Trump Media & Technology Group (TMTG), behind Truth Social, has filed an amended S-1 registration with the SEC for its Truth Social Bitcoin ETF, ticker “B.T.,” aiming to track Bitcoin’s price performance. The filing, submitted on August 11, 2025, lacks key details like fees or a final ticker symbol, as noted by Bloomberg’s Eric Balchunas. Crypto.com will serve as the …