Elon Musk’s lawyer Alex Spiro is set to chair a planned $200 million Dogecoin treasury company backed by House of Doge, as memecoin treasury vehicles begin to emerge.
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XRP’s slow push into institutional finance just picked up another backer.
Data-focused blockchain firm Flare announced on Friday that Everything Blockchain Inc. (OTC: EBZT), a U.S.-listed company, has signed a memorandum of understanding to adopt its XRP finance (XRPFi) framework for corporate treasury yield.
The move comes months after Nasdaq-listed VivoPower International PLC (NASDAQ: VVPR) committed $100 million in XRP to Flare’s ecosystem, making EBZT only the second public company to do so.
The agreements mark early steps in Flare’s effort to turn XRP — historically a non-yielding asset — into a productive instrument for institutions.
At the center of the framework is Flare’s “FAssets” system, a trustless bridge that gives smart contract functionality to tokens like XRP and bitcoin. Combined with Firelight, Flare’s restaking layer, the setup lets companies convert XRP into FXRP and allocate it across decentralized lending, staking and liquidity protocols.
“XRP, now a roughly $150 billion asset, has been a cornerstone of digital finance for more than a decade, yet institutions have had few ways to make it productive,” said Hugo Philion, Flare’s co-founder and CEO.
“Flare changes that by enabling a compliant, on-chain, non-custodial yield framework designed for corporate treasuries. With VivoPower and now Everything Blockchain, public companies are validating that XRPFi is not just a concept but an emerging institutional standard,” he added.
EBZT framed its decision as part of a broader shift in how public companies treat blockchain assets.
“This is about unlocking the true financial utility of digital assets like XRP, not just as speculative holdings, but as yield-bearing instruments that can compound over time,” said Arthur Rozenberg, the company’s CEO. “Flare gives us the rails to do this in a way that meets the governance, security, and auditability standards required of public companies.”
For now, the XRPFi push remains small in dollar terms relative to bitcoin or ether-based treasury pilots.
But two listed companies publicly adopting the model in under a year gives XRP a new narrative: less about speculation, more about yield, and potentially a step toward more mainstream corporate balance sheets.
Stellar’s native token XLM came under heavy institutional selling pressure in the latest trading session, falling from $0.39 to $0.36 between August 28 at 3:00 p.m. and August 29 at 2:00 p.m. ET. Market data shows more than 41.89 million XLM changed hands, with volumes surging as large holders reduced exposure.
Despite the pressure, Stellar’s enterprise push remains intact. The Stellar Development Foundation reported the network is approaching 10 million registered accounts, boosted by daily growth of 5,000–6,000 new corporate wallets. Strategic partnerships with MoneyGram International and Circle Internet Financial continue to drive adoption of Stellar’s payment rails in cross-border finance.
Analysts highlighted sharp intraday swings on August 29, when XLM dropped 1.38% between 1:26 p.m. and 2:06 p.m., before institutional buyers reentered the market. The token recovered 1.27% during the 15-minute window that followed, closing the session at $0.361 after briefly touching $0.357.
A spokesperson close to Stellar’s corporate strategy stressed that the market turbulence was sentiment-driven rather than a reflection of business fundamentals. The late-session bounce suggested some large buyers viewed the decline as a buying opportunity, underscoring confidence in Stellar’s long-term role in blockchain-based financial infrastructure.
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.
Grayscale filed S-1s for Polkadot and Cardano ETFs, expanding its altcoin lineup after earlier 19b-4 filings with Nasdaq and NYSE Arca.
The post Grayscale files for Polkadot and Cardano ETFs following earlier 19b-4 moves appeared first on Crypto Briefing.
The lawsuit's dismissal may bolster investor confidence in the company's Bitcoin strategy, despite past unrealized losses and market volatility.
The post Strategy investors dismiss lawsuit against the company over $6B Bitcoin unrealized loss appeared first on Crypto Briefing.
European crypto asset manager CoinShares has released its second-quarter results, showing a net profit of $32.4 million. The figure, while slightly down 5.3% from the prior quarter, represents a 1.9% increase year-over-year, supported by growing management fees, improved treasury performance, and strong momentum in physically backed products.
The company attributed the results to a surge in digital asset prices and rising institutional inflows. Bitcoin and Ethereum advanced by 29% and 37% during the quarter, pushing CoinShares’ assets under management (AUM) to $3.5 billion, a 26% increase from the previous quarter.
This growth came despite continued outflows from its legacy derivatives-based products, highlighting shifting investor preference toward physically backed exchange-traded products (ETPs).
According to the company’s Q2 earnings report, asset management fees generated $30 million, compared with $28.3 million in the same period last year. Capital markets income came in at $11.3 million, slightly below the $14.6 million posted in Q2 2024, while adjusted EBITDA reached $26.3 million.
Basic earnings per share stood at $0.49, marginally above the $0.47 a year earlier. CoinShares’ spot crypto ETPs attracted $170 million in net inflows, the second-highest on record, driving much of the growth in AUM.
These inflows were boosted by the integration of Valkyrie ETFs into the CoinShares brand after last year’s acquisition. In addition, the firm’s proprietary BLOCK Index rose 53.7%, outperforming leading equity benchmarks, reflecting broader strength across digital asset markets.
Within its capital markets division, Ethereum staking contributed $4.3 million, while delta-neutral trading strategies and lending added $2.2 million and $2.6 million, respectively. Liquidity provisioning generated $1.5 million, a slight dip compared with earlier quarters.
The company’s treasury also swung back into positive territory, with $7.8 million in unrealized gains, compared with a $3 million loss in Q1 and a $0.4 million loss in the same period last year.
Chief Executive Officer Jean-Marie Mognetti noted that the quarter demonstrated resilience across all business units: “We saw a significant recovery in digital asset pricing. While average prices across Q1 and Q2 were relatively similar, we closed H1 2025 with strong AUM and a favorable outlook.”
Looking ahead, CoinShares is positioning itself for further growth, with plans to pursue a US stock exchange listing. The company is currently listed on Nasdaq Stockholm but sees the US as a market offering greater liquidity, higher valuations, and stronger investor appetite for digital asset firms.
“The move from Sweden to the US will unlock substantial value for shareholders by entering a market with significant breadth and depth,” Mognetti said, pointing to recent listings by Circle and Bullish, which experienced strong demand and immediate share price gains.
The company also highlighted a supportive policy environment in the US, citing recent legislative progress and an administration signaling openness to crypto innovation.
Mognetti said clarity on the timing of the listing should be available within this quarter, with the firm aiming to capitalize on current momentum in both digital asset markets and regulatory developments.
Featured image created with DALL-E, Chart from TradingView
Ethereum’s price action has witnessed surprise bullish upside in the past months and has outperformed Bitcoin in recent weeks. Behind the scenes, the leading altcoin has also witnessed a buyer unlike any other this year, and that buyer is BitMine.
The publicly traded firm has gone on an unprecedented spending spree, scooping up Ethereum at a pace that has seen its Ethereum reserves swell into the billions, making BitMine the largest publicly traded Ethereum treasury firm in the world.
BitMine’s buying spree is not just opportunistic but is part of a calculated mission. Under the leadership of Tom Lee, co-founder of Fundstrat and now BitMine’s chairman, the Bitcoin mining company has set its sights on acquiring 5% of Ethereum’s circulating supply, an ambition Lee has branded the alchemy of 5%. That figure translates to a target of roughly $27 billion in ETH, which would make BitMine the biggest ETH holder.
BitMine’s accumulation of Ethereum has been nothing short of staggering. It began on June 30, 2025, with a private raise of $250 million, followed by another $500 million on July 14, which pushed its holdings beyond 163,000 ETH. By early August, BitMine had already passed 1.15 million ETH after a continued buying streak. At the time, its holdings were worth close to $5 billion, which made it the largest publicly traded Ethereum treasury firm.
The buildup of BitMine’s accumulation only grew aggressive from there. By August 18, its stash had broken past 1.5 million ETH and stood at 1.52 million ETH, valued at around $6.6 billion. According to a press release by BitMine Immersion Technologies, the company was holding 1,713,899 ETH on August 24. The firm said its most recent purchases took its Ethereum balance up by more than 190,500 tokens from 1.52 million. Additionally, its portfolio includes 192 BTC and unencumbered cash of $562 million.
Investor interest has surged alongside the company’s expansion. The firm’s transition from Bitcoin to Ethereum treasury saw its NAV per share climb from $22.84 in July to $39.84 in the last week of August.
BitMine has become to Ethereum what MicroStrategy has long been to Bitcoin. Its Ethereum accumulation strategy has seen it become the second-largest crypto treasury firm, having overtaken MARA holdings in August.
Although BitMine has become the undisputed leader in corporate Ethereum ownership, the crown for the largest crypto treasury overall belongs to MicroStrategy, which recently rebranded as Strategy. MicroStrategy currently holds 632,457 BTC worth over $46.5 billion and is in a league of its own when it comes to corporate crypto exposure.
Nonetheless, BitMine’s rise has changed the balance of power. Its $8.8 billion Ethereum-plus-cash treasury makes it the second-largest corporate crypto holder globally, ahead of miners like Marathon Digital, XXI, and other firms adopting crypto treasuries.
Bitfinex-backed Plasma announced a strategic partnership with EtherFi on Aug. 29, positioning the stablecoin-focused neobank as a day-one launch partner for the blockchain’s mainnet beta.
EtherFi will transfer over $500 million from its Ethereum (ETH) staking vault to Plasma’s platform, providing liquidity for stablecoin-backed yield strategies.
The collaboration integrates EtherFi across Plasma’s DeFi ecosystem, providing users with additional collateral options for lending and borrowing while offering access to ETH-backed yield products.
Plasma’s announcement emphasized how the partnership complements both platforms’ objectives in the stablecoin infrastructure space. The protocol stated:
“Stablecoins give everyone, everywhere permissionless access to the financial service of saving money safely and reliably.”
EtherFi is the sixth-largest DeFi protocol, with a total value locked of over $11 billion as of Aug. 29. The protocol reached an all-time high of nearly $12.6 billion on Aug. 14.
Plasma operates as a Bitcoin sidechain with full Ethereum Virtual Machine (EVM) compatibility, engineered specifically for stablecoin payments and cross-border transactions.
The platform offers zero-fee USDT transfers through a dual-validator architecture that processes gasless transactions.
Recent market activity demonstrates significant institutional interest in Plasma’s approach. The platform raised $1 billion in deposits within 30 minutes during its June expansion, with 70% of funds concentrated among the top 100 wallets according to analytics firm Sealaunch.
Initial deposits in June totaled $500 million, with over 1,100 participating wallets.
Further, Plasma is backed by high-profile names. The protocol $24 million funding round attracted backing from Framework Ventures, Bitfinex, Peter Thiel’s Founders Fund, and Tether CEO Paolo Ardoino.
The EtherFi partnership extends beyond simple vault migration. Plasma users will be able to leverage EtherFi’s liquid staking tokens as collateral while accessing stablecoin features, including custom gas tokens and confidential transactions.
Additionally, the partnership positions both platforms to capture the growing demand for stablecoin infrastructure as the sector surpasses a total supply of $280 billion.
Former BitMEX CEO Arthur Hayes recently noted that EtherFi is one of three DeFi protocols that could capture significant value from the expansion of US dollar-pegged stablecoins.
EtherFi’s commitment to move $500 million in ETH staking assets represents confidence in Plasma’s technical architecture and market positioning within the expanding stablecoin ecosystem.
The post Bitfinex-backed Plasma secures EtherFi partnership with $500 million ETH vault integration appeared first on CryptoSlate.
Tether abandoned plans to freeze its dollar-pegged USDT tokens on several older blockchains and is choosing instead to classify them as “unsupported,” according to an Aug. 29 statement.
The change applies to networks such as Bitcoin Cash, Kusama, EOS, and Algorand, among others. Users will still be able to move tokens across wallets, but Tether will no longer issue or redeem USDT on those platforms.
The shift came after weeks of community pushback over the company’s original plan, which would have locked tokens in place and left them non-transferable.
In June, Tether had outlined a transition that would begin Sept. 1, 2025, with all USDT on the affected blockchains frozen and excluded from redemptions.
The move was framed as a way to streamline operations by cutting off support for networks that accounted for a negligible share of the stablecoin’s activity. Under that plan, tokens would have remained visible on-chain but effectively stranded without any movement or redemption path.
Following sustained criticism from developers and users on smaller ecosystems like EOS and Algorand, Tether retreated from a hard freeze. The firm said the revised approach “aligns with its broader strategy” while avoiding reputational damage.
The compromise allows Tether to wind down low-volume chains without provoking backlash from users who would have been locked out of their assets.
The announcement came just one day after Tether disclosed plans to issue a native USDT on Bitcoin using the RGB protocol.
Unlike wrapped tokens that rely on custodial bridges, RGB integrates directly with Bitcoin’s scripting and client-side validation, making USDT part of the Bitcoin ecosystem’s security model.
USDT remains most heavily concentrated on Ethereum and Tron, each with more than $80 billion in circulation, alongside smaller footprints on Solana and a few other networks.
The decision to drop support for legacy chains signals tightening resources on platforms with higher adoption while staking new ground on Bitcoin.
The post Tether abandons plan to freeze USDT on legacy crypto networks, classifies them ‘unsupported’ appeared first on CryptoSlate.
An Indian court has sentenced a former legislative assembly member of the Bharatiya Janata Party (BJP) to life in prison for his involvement in a high-profile bitcoin extortion plot.
Nalin Kotadiya and thirteen other individuals were convicted for the 2018 kidnapping of a Surat businessman and extorting 200 bitcoins from him.
A local court in Ahmedabad delivered today’s verdict, concluding the high-profile case that dates back to 2018.
Fourteen people, including former BJP legislative assembly member Nalin Kotadiya and ex-Indian Police Service officer Jagdish Patel, were found guilty and sentenced to life in prison. One individual was acquitted.
This landmark ruling concludes an extensive trial that exposed a corruption trail involving high-profile individuals in Gujarat.
The case began with the kidnapping of Shailesh Bhatt, a businessman and cryptocurrency trader from Surat.
According to reports, individuals pretending to be from India’s Central Bureau of Investigation (CBI) lured him to a meeting in Gandhinagar.
Instead, he was abducted from a gas station. A team of police officers using official government vehicles then took Bhatt to a farmhouse.
The accused seized 200 Bitcoins, valued at approximately ₹12 crore at the time, and demanded a ransom of ₹32 crore.
The investigation further revealed that Bhatt had previously stolen Bitcoins worth ₹150 crore from another Surat resident named Dhawal Mawani. Upon learning this, the accused—including Nalin Kotadiya—conspired to rob Bhatt.
Bhatt set off the investigation when he submitted a formal complaint to the Indian Criminal Investigation Department (CID).
As the investigation deepened, the CID arrested ten police officers, including Anant Patel and Surat-based lawyer Ketan Patel.
Their interrogations soon revealed the names of Jagdish Patel and Kotadiya. Kotadiya went into hiding, and a non-bailable warrant was issued before his eventual arrest.
The scope of the conspiracy widened further with the involvement of a genuine CBI Inspector, Sunil Nair. Nair reportedly demanded a bribe from Bhatt and threatened to initiate an investigation against him.
The court’s decision ultimately marked a major step against corruption and criminal activity involving police officials, politicians, and cryptocurrency.
The post Former Indian Politician Convicted in Bitcoin Extortion Case appeared first on BeInCrypto.
The real-world asset (RWA) sector has cooled, with RWA tokens down 3.7% over the past month, underperforming narratives like liquid staking and GameFi. Still, the long-term growth story remains intact.
Yet, despite the correction, a handful of RWA altcoins to watch in September are flashing strong fundamentals and price setups.
Chainlink remains the most recognized RWA altcoin, and the recent announcement of a US Department of Commerce partnership to bring government macroeconomic data on-chain only reinforces its credibility.
On-chain data shows whales and top addresses positioned early. Whale balances rose 29.52% in August, bringing holdings to 5.03 million LINK. That means whales added roughly 1.15 million LINK, worth nearly $27 million at today’s price of $23.47.
The top 100 addresses now hold 646.8 million LINK, up 0.47%, with an addition of approximately 3 million LINK, equivalent to around $70 million. Exchange balances dropped by 4.19%, a bullish outflow trend that reduces sell pressure.
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Despite a slow week, LINK remains in an uptrend, posting gains worth over 30% month-on-month. While bears pressed it down by 5.9% this week, bulls have largely maintained control. Every time the bears have tried to take control of the LINK price action, bulls have intervened, as shown by the Bull-Bear Power (BBP) indicator.
The Bull Bear Power (BBP) indicator measures whether buyers (bulls) or sellers (bears) are driving momentum.
A clean breakout above $25.80 would open a move toward $27.62, and beyond that, Fibonacci extension targets suggest a path as high as $43.04.
Failure to hold $22.86, however, could invite deeper pullbacks, but current whale and exchange flows argue for continued resilience. With whales stacking, LINK ETF talks surfacing, and a government-linked partnership validating fundamentals, Chainlink is a leading RWA coin to watch in September.
Ondo is one of the fastest-growing names in the RWA token space. It bridges real-world assets like US Treasuries and corporate bonds into tokenized form for on-chain investors.
Whales have been quietly adding through late August. The 100 million to 1 billion ONDO cohort grew holdings from 981.38 million ONDO on August 24 to 989.53 million ONDO at press time. That is an accumulation of 8.15 million ONDO, worth about $7.4 million at current prices of roughly $0.91.
Technically, ONDO is showing a bullish divergence. Since August 19, the price has made lower lows, but the RSI has printed higher lows. This divergence hints at waning bearish pressure and a potential reversal. ONDO is up 13.2% over the past three months, showing the broader trend is still intact despite short-term weakness.
The Relative Strength Index (RSI) tracks the speed of price moves to show whether an asset is overbought or oversold. Higher values mean stronger buying, while lower values indicate heavier selling.
Immediate resistance sits near $0.93. A breakout above $0.9786 would validate the bullish divergence and open targets at $1.14.
Maple Finance is a credit marketplace focused on institutional lending, and its native Syrup (SYRUP) token has been gaining steady traction as one of the RWA coins to watch.
Performance has been notable. Over the past three months, Syrup has gained 39.9%. In the last month, it is up 4.2%, while seven-day gains stand at 14%. The consistency of these numbers reflects that Syrup has not disappointed despite market volatility.
On-chain data supports this strength. Top 100 addresses increased holdings by 16.79%, adding about 160 million SYRUP, worth approximately $72 million at the current price of $0.45.
Exchange balances dropped by 23.51%, or around 69 million tokens (about $31 million), reflecting a supply squeeze. Whales did trim positions by nearly 59%, but this impact has been outweighed by accumulation from larger cohorts and steady outflows from exchanges.
SYRUP price action also remains constructive. A sustained hold above $0.42 keeps bulls in control. A breakout above $0.53 could fuel momentum toward $0.62–$0.77 in September. With bulls being in control, courtesy of the green Bull-Bear Power indicator candles, a move on the upside looks likely.
However, if Syrup falls below $0.38, the bullish setup would be invalidated, and sellers would take over. Given its steady accumulation and resilience during volatile weeks, Maple Finance and its Syrup token have earned their spot as one of the top RWA altcoins to watch in September.
The post Top 3 Real World Asset (RWA) Altcoins to Watch in September appeared first on BeInCrypto.
TRON (TRX) has been experiencing muted performance in recent weeks, trading at $0.3389 at the time of writing. This represents a 21.4% decline from its all-time high of $0.4313, recorded late last year.
Despite relatively stable price levels in recent days, the lack of upward momentum suggests investors might be carefully watching for a catalyst that could determine the token’s next major move.
Amid this market setting, analysts are closely tracking TRON’s on-chain data. One key observation comes from CryptoQuant contributor CryptoOnchain, who examined network activity and resistance levels.
According to the analyst, TRX is currently testing its historical resistance zone, a level that could prove decisive in whether the asset pushes toward higher targets or risks another setback.
CryptoOnchain noted that TRON’s network activity is at record levels, with daily active addresses (DAA) surpassing 2.6 million, the highest figure in its history.
This surge in user activity reflects strong underlying demand for the network, even while TRX’s price has struggled to break higher. Historically, such growth in addresses has acted as a fundamental driver for price strength, signaling that demand for TRON’s blockchain services remains resilient.
The analyst highlighted that TRX sits just below its historical resistance. If the token were to close above its all-time high and sustain that level, the breakout target could range between $0.48 and $0.52, aligning with TRON’s On-Chain Value Bands metric.
However, CryptoOnchain cautioned that this scenario depends heavily on TRON maintaining its active address momentum. A decline in DAA could undermine the bullish setup, exposing TRX to downside risk.
The outlook also ties into broader market conditions. The CryptoQuant analyst believes that a potential altseason, a period of significant gains across altcoins, could provide the momentum needed for TRX to achieve a breakout. In this context, continued high network demand and user activity would support further price appreciation.
In a separate analysis, CryptoQuant contributor Amr Taha examined stablecoin flows on the TRON network, particularly the activity of large wallets.
Data showed that in the past 24 hours, wallets holding over $100 million in USDT dominated TRON’s transaction volume, coinciding with Bitcoin regaining momentum above the $110,000 level.
This concentration of large transfers is significant because it often precedes shifts in broader crypto market sentiment. A notable example occurred on August 12, when $100M+ wallets moved approximately $3.9 billion in USDT across the TRON network.
That wave of transfers directly coincided with a 5% rally in Bitcoin, highlighting the role of stablecoin liquidity in driving market cycles.
Taha added that the distribution of daily USDT wallet changes reinforces this trend. Wallets with balances above $100M accounted for nearly 35–36% of total daily activity, a level nearly identical to August’s inflows.
Such concentrated whale activity suggests that stablecoin flows on TRON remain a leading indicator for market positioning and potential capital rotations into risk assets like TRX and Bitcoin.
Featured image created with DALL-E, Chart from TradingView
Shiba Inu’s price action in recent days has been largely subdued, and many traders would argue it has had the most disappointing meme performance lately. The price has been range-bound between $0.00001345 and $0.00001190 for much of August, showing low volatility as traders wait for a decisive move.
Nonetheless, a new technical analysis suggests that SHIB may be approaching the end of its consolidation cycle. According to analyst Kamran Asghar, the weekly chart is showing signs of preparing for a major expansion phase that could unlock a rally of more than 650%.
The weekly candlestick timeframe chart shared by Kamran Asghar shows that Shiba Inu has repeatedly followed a cycle of prolonged accumulation phases before launching into massive expansions. Looking back as far as July 2021, SHIB experienced a 1,154% rally after a lengthy consolidation period.
Interestingly, this pattern repeated again in early 2024 when the price surged by over 501% after another extended accumulation stage. Both cycles were characterized by weeks of sideways action, followed by sudden vertical rallies that took SHIB to new highs in a short span of time.
The current setup has strong similarities to these earlier phases. For one, the Shiba Inu has been locked in a tight accumulation range for several months since the beginning of 2025. This accumulation range has been characterized by low volatility between the upper end of $0.000020 and the lower end of $0.000010 for most of the year. Now, given the precedent of the last two breakouts, Shiba Inu’s ongoing consolidation may already be nearing its end.
If history repeats, the next move could cause another Shiba Inu price explosion on the weekly candlestick timeframe. According to the analyst’s projection, the massive expansion would see the Shiba Inu price increase by 650%, which would see it reach a target of $0.00009.
This level coincides with the chart’s projection for a new all-time high, as it would see Shiba Inu break above the peak of $0.00008616 that has held since 2021. The projection is based on measuring past expansions and overlaying an average of the two on the current price structure.
Although the projected 650% increase is less than the 1,150% rally witnessed by Shiba Inu in the 2021 rally, the volume needed in this case would be far greater.
As such, the most important factor that will determine whether this breakout will occur is demand volume. In both prior expansions, Shiba Inu ’s rallies were caused by sudden surges in demand that pushed the price out of its accumulation box with high conviction. Without this surge in volume liquidity, Shiba Inu’s price action may continue drifting sideways within the consolidation range.
At the time of writing, Shiba Inu is trading at $0.00001236, down by 3.8% in the past 24 hours.