According to Foresight News, South Korean cryptocurrency entrepreneur Do Kwon admitted to two counts of fraud in a New York federal court on Tuesday. The 33-year-old co-founder of Terraform Labs was involved in the development of TerraUSD and LUNA tokens, which collapsed in 2022, resulting in approximately $40 billion in losses. During a hearing overseen by U.S. District Judge Paul Engelmayer in the Southern District of New York, Kwon pleaded guilty to charges of conspiracy to commit fraud and wire fraud.

According to Foresight News, Metaplanet has announced its financial results for the second quarter, showcasing substantial growth across various metrics. The company reported revenue of 12.39 billion yen (approximately 8.4 million USD), marking a 41% increase compared to the previous quarter. Gross profit reached 8.16 billion yen (around 5.5 million USD), reflecting a 38% rise quarter-on-quarter. Operating profit surged to 174 billion yen (approximately 117.8 million USD), a significant turnaround from the previous year's loss of 6.9 billion yen. Net profit also saw a remarkable improvement, reaching 111 billion yen (about 75.1 million USD), compared to a loss of 5 billion yen in the same period last year. The company's total assets grew by 333% quarter-on-quarter, amounting to 238.2 billion yen (approximately 1.61 billion USD). Net assets increased by 299%, totaling 201 billion yen (around 1.36 billion USD). These figures indicate a robust financial performance and a strong position for Metaplanet moving forward.

Treasury Secretary Scott Bessent calls for 50 basis point Fed rate cut in September following "incredible" inflation report as crypto markets position for extended rally with cut odds surging to 96%. source: https://cryptonews.com/news/treasury-secretary-bessent-calls-for-50-bps-fed-rate-cut/

Perplexity AI has made a $34.5 billion offer to buy Google’s Chrome browser as Google faces possible antitrust action in the US. Google has not responded, and many believe Chrome is worth far more than the bid.

The U. S. government ran a massive $291 billion deficit in July even as customs duty collections soared nearly $21 billion thanks to Trump’s tariffs. source: https://www.cryptopolitan.com/u-s-posts-291-billion-july-deficit/

What is Tempo? What can Stripe and Paradigm bring to Tempo? Why are these two giant companies so focused on Tempo?

US spot Ethereum exchange-traded funds (ETFs) attracted $523. 9 million in net inflows on Tuesday. BlackRock’s ETHA led with $318. 67 million in net inflows, followed by Fidelity’s FETH at $144 source: https://coinjournal.net/news/us-spot-ethereum-etfs-record-523-9m-in-inflows-after-record-breaking-session/

تظهر عملة PEPE، وهي واحدة من أكبر عملات الميم من حيث القيمة السوقية، علامات على تجدد اهتمام المستثمرين. يأتي ذلك وسط ارتفاع أوسع في إيثريوم (ETH)، مدفوعًا بتدفقات مؤسسية واعتماد الشركات. كيف يمكن لارتفاع الإيثريوم أن يعزز سعر PEPE تعتبر PEPE أفضل عملة ميم كبيرة أداءً اليوم وهذا الأسبوع، حيث تظهر العملة مرونة رغم الظروف المتقلبة. خلال الـ24 ساعة الماضية، ارتفع سعر PEPE بنحو 10%، متفوقة على نظرائها في القطاع مثل دوجكوين (DOGE)، شيبا إينو (SHIB)، و بونك إينو (BONK)، من بين آخرين source: https://ar.beincrypto.com/pepe-coin-surges-with-ethereum/

The family of late AI researcher and OpenAI whistleblower Suchir Balaji is leveraging the power of crypto to fight for answers following the tragic death of their son in 2024.

قفزت قيمة وسعر العملة الرقمية OKB بنسبة تقارب 170% خلال ساعة واحدة، عقب إعلان منصة OKX عن تحديث شامل لاقتصاديات العملة (Tokennomics) تضمن حرق لمرة واحدة لأكثر من 65 مليون OKB، مما خفّض العرض الإجمالي إلى 21 مليون عملة فقط. source: https://arab-btc.net/okb-jumps-170/

According to Foresight News, Ethereum scaling infrastructure startup Spire has announced the launch of its blob aggregation protocol, DA Builder, on the Ethereum mainnet. The company stated that DA Builder aggregates blob submissions from multiple Layer 2 (L2) solutions into a single Ethereum transaction. This approach significantly reduces data availability (DA) costs without compromising trust assumptions. Additionally, DA Builder is designed to prevent spikes in gas prices on L2 networks and introduce faster finality. This development aims to enhance the efficiency and cost-effectiveness of transactions on the Ethereum network, addressing key challenges faced by L2 solutions.

Whales rapidly exiting market, despite relatively stable position source: https://u.today/crypto-market-crash-incoming-top-tier-whale-closes-all-longs

Ethereum whale group “7 Siblings” has sold $88. 2 million in ETH within 15 hours as short-term traders lock in profits. source: https://cointelegraph.com/news/eth-whale-7-siblings-dumps-88m-holds-5-6b-total?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

SWIFT, Stablecoins, Stablecoins: The End of SWIFT? Golden Finance: A revolution in international payments is quietly underway.

Control, value capture, compliance, and the trillion-dollar stablecoin opportunity.

Terraform Labs co-founder Do Kwon has finally pleaded guilty on two felony counts of wire fraud and conspirary to defraud.

Binance has joined the T3+ coalition and helped freeze $6 million from a pig-butchering crypto scam. The exchange is actively working with other industry players to track and stop illegal blockchain activity in real time.

Stablecoin usage and supply will grow significantly, but does a dedicated settlement and payment chain for stablecoins make sense?

Dan Morehead: BTC will still rise by another order of magnitude, approaching $1 million, which will be the last time Bitcoin sees a 10-fold increase.

The resurgence of prediction markets will leverage efficient markets to generate valuable predictive insights, and we are about to see an explosion in the types of markets and what people are betting on. A market for everything is coming.