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Crypto News

Bitcoin Surpasses $119,000 with a Narrowed 0.4% Increase in 24 Hours

Bitcoin has crossed the $119,000 benchmark and is now trading at $119,213, with a narrowed 0.4% increase in 24 hours.

Ethereum Surpasses $4,600 with a 8.3% Increase in 24 Hours

Ethereum has crossed the $4,600 benchmark and is now trading at $4,643, with a narrowed 8.3% increase in 24 hours.

Do Kwon Said to Plead Guilty in U.S. over Terra Collapse That Rattled Crypto Market

Terraform Labs co-founder Do Kwon on Tuesday agreed to plead guilty to charges in a U.S. case tied to the 2022 collapse of the TerraUSD stablecoin, according to several media reports.

The 33-year-old faced nine counts prior to appearing before U.S. District Judge Paul Engelmayer at a New York-based hearing, Bloomberg reported.

The plea deal covers two of those counts -- conspiracy and wire fraud -- which would give Kwon a maximum prison sentence of 25 years. But the actual sentence will be determined by the court.

Ethereum Surpasses Netflix in Global Market Capitalization Rankings

Ethereum's market capitalization has temporarily reached $556 billion as its price briefly exceeded $4,600. This surge places Ethereum at the 25th position in global asset market capitalization rankings, surpassing Netflix.

Bullish to Debut on NYSE with Increased IPO Valuation

According to BlockBeats, the cryptocurrency trading platform Bullish, backed by billionaire Peter Thiel, is set to list on the New York Stock Exchange under the ticker symbol BLSH. The company initially planned to sell 20.3 million shares at a price range of $28 to $31 per share, potentially raising up to $629.3 million. Underwriters have a 30-day option to purchase an additional 3.045 million shares.

On August 11, Bullish expanded its initial public offering ( IPO ) size, now targeting a valuation of up to $4.82 billion, a significant increase from the previous $4.2 billion target. The revised plan involves selling 30 million shares at a price range of $32 to $33 per share, which could raise approximately $990 million at the highest price.

Circle Falls After Company, Holders Offer 10 Million Shares

Shares of Circle Internet Corp. fell after the second-largest stablecoin issuer and a group of shareholders including co-founder and Chief Executive Officer Jeremy Allaire announced an offering to sell a combined 10 million shares.

Circle is offering 2 million shares while the selling shareholders are selling 8 million, according to a filing Tuesday with the US Securities and Exchange Commission. At the closing price on Tuesday of $163.21 each, the share sale would raise $1.63 billion.

The stock declined 5% in overnight trading.

Soluna Expands Partnership with Galaxy Digital to Deploy 48 MW at Project Kati

Soluna Holdings, Inc. on Tuesday announced an expanded partnership with Galaxy Digital Holdings Ltd..

Under the new agreement, Galaxy will deploy proprietary bitcoin mining operations – previously housed at their Helios datacenter campus in the Texas panhandle – at a 48 MW expansion of Soluna ’ s Project Kati 1 in Texas.

Opendoor Rallies as Crypto Influencer Pompliano Buys Shares

Opendoor Technologies Inc has resumed its surge after cryptocurrency investor and influential newsletter writer and podcaster Anthony Pompliano said he ’ d bought shares in the digital real estate firm.

Shares ended 7% higher Tuesday after Pompliano said in a post on X he ’ s an investor in the $1.8 billion company. Pompliano is chief executive officer of ProCap Acquisition Corp. and a former employee of Facebook, now known as Meta Platforms Inc. He hosts podcasts on business and investing, writes a daily newsletter to 260,000 readers and has 1.7 million followers on X.

Bitcoin Spot ETF Flow

The overall net inflow of the US ETH spot ETF on Tuesday was $523.92 million. The total net asset value of ETH spot ETFs is $27.60 billion, and the ETF net asset ratio ( market value compared to total ETH market value ) is 4.77%.

The ETH spot ETF with the highest net inflow on Aug 12 was iShares Ethereum Trust ETF, with a net inflow of $318.67 million. Followed by Fidelity Ethereum Fund, with a net inflow of 144.93 million, according to SoSoValue.