• bullish IPO
    Exchange

    Crypto Exchange Bullish Surpasses IPO Estimates, Raises $1.11 billion

    August 13, 2025 - By 

    Cryptocurrency exchange Bullish, which is backed by billionaire Peter Thiel, completed its initial public offering on Wednesday. It raised $1.11 billion by selling 30 million shares at $37 each, which is well above its targeted $32-$33 price range. The offering values the company at $5.41 billion.  The exchange began trading on the New York Stock Exchange under the ticker symbol “BLSH”. JPMorgan, Jefferies, and Citigroup served as lead underwriters for the deal. Institutional investors BlackRock and Cathie Wood’s Ark Investment Management committed to purchase up to $200 million worth of shares from the offering, demonstrating strong institutional appetite for crypto-related…

  • HashFlare duo
    Hack & Scam

    HashFlare Duo Receive Time Served in $577 Million Crypto Scam

    August 13, 2025 - By 

    In a developing story, HashFlare duo Sergei Potapenko and Ivan Turõgin are sentenced to time served for one of the largest cryptocurrency fraud cases in U.S. history.  The HashFlare duo previously pleaded guilty to their crime of the massive $577 million Ponzi scheme.  However, Federal Judge Robert Lasnik handed down the ruling, allowing the Estonian nationals to avoid additional prison time. They had served 16 months in custody by this time. For context, the HashFlare duo, Sergei and Turõgin were arrested in Estonia in November 2022 and extradited to the United States in May 2024.  The duo pleaded guilty to…

  • Regulation

    Do Kwon Finally Pleads Guilty to $40 Billion Fraud, Faces Just 12 Years in Prison

    August 13, 2025 - By 

    Do Kwon, the founder behind the collapsed Terra cryptocurrency project, finally pleaded guilty on Tuesday to fraud charges that wiped out billions of dollars from investors. Kwon admitted he knowingly deceived buyers about his company’s flagship products between 2018 and 2022. Do Kwon, hailing from South Korea, founded Terra, a crypto ecosystem that promised huge returns through its LUNA token and TerraUSD stablecoin. Authorities say he ran a fraudulent scheme that made him rich but devastated investors when the project collapsed in 2022. Kwon reverses plea, admits to fraud Kwon changed his plea after initially fighting nine criminal charges, including…

  • what happened in crypto yesterday
    Cryptocurrency

    Do Kwon pleads guilty And Fed Rate Cut Could Be The Anvil

    August 13, 2025 - By 

    You missed what happened in crypto yesterday? Don’t worry, we’ve got you covered! Terraform Labs Founder Pleads Guilty Terraform Labs co-founder Do Kwon pleaded guilty to two counts of wire fraud and conspiracy to defraud, waiving his right to a trial on these charges.  The plea agreement, reported on August 12, 2025, by the US District Court in the Southern District of New York, includes $19 million in financial penalties and a potential prison sentence of up to 25 years if served consecutively, though prosecutors will reportedly recommend no more than 12 years.  Kwon’s sentencing is set for December 11,…

  • Steak_‘n_Shake_thanks_Bitcoiners_as_same-store_sales_rise_11__in_Q2
    Bitcoin

    Steak ‘n Shake credits Bitcoin as Q2 leader

    August 12, 2025 - By 

    Steak ‘n Shake said its same-store sales rose 10.7% quarter-on-quarter in Q2 2025, according to its parent company’s latest filing. On Aug. 8, the chain thanked Bitcoin users in a post on X, writing: “Bitcoin has been a game changer.” Steak ‘n Shake outpaces major U.S. rivals Steak ‘n Shake posted a 10.7% quarter-over-quarter rise in same-store sales in Q2, the strongest result among major U.S. fast-food chains that reported for the period. The outperformance adds to signs that merchant Bitcoin payments remain active in the U.S., where Bitcoin is mostly treated as an investment, even as day-to-day use is…

  • Elizabeth Warren
    Regulation

    Elizabeth Warren Pushes for Tough Crypto Rules 

    August 12, 2025 - By 

    US Senator Elizabeth Warren warns that unchecked digital asset markets could trigger economic instability and fuel government corruption. The Massachusetts Democrat has emerged as one of Congress’s most vocal critics of industry-friendly legislation. She has reiterated the need for comprehensive cryptocurrency regulations. Elizabeth Warren opposed bills such as the GENIUS Act and CLARITY Act, which she argues hand regulatory power to major crypto corporations while weakening oversight. At a recent WNBC address she called for strict bans on elected officials trading or holding significant crypto investments.  She cited potential conflicts of interest tied to the president’s family businesses and their…

  • FTX_users_bolster_lawsuit_claiming_law_firm_was_key_to_FTX_fraud
    Hack & Scam

    FTX Case Takes New Turn, Law Firm Accused of Playing Key Role 

    August 12, 2025 - By 

    Victims of the FTX fraud case are updating their lawsuit. New evidence shows Fenwick and West – a law firm – have equally orchestrated the fraud.  According to testimonies given by FTX Insiders, Fenwick and West were not merely legal representatives but they also created and approved the structures that led to mismanagement of customer funds.  The customers have accused the firm for misrepresenting FTX and its sister firm Almaeda Research and its subsidiary North Dimension.   This lawsuit is a component of a larger multi-district class-action lawsuit initiated by FTX users following the exchange’s collapse in late 2022.  The broader…

  • Trump_Media_Files_Amendment_to_Bitcoin_ETF_Registration_Crypto.com_to_Offer_Custody
    Cryptocurrency

    Trump Media names Crypto.com in ETF plan

    August 12, 2025 - By 

    Trump Media & Technology Group, the company behind Truth Social, has filed an amended with the U.S. Securities and Exchange Commission (SEC) for a spot Bitcoin exchange-traded fund.  Operational partners are named in the filing. Crypto.com will serve as the Bitcoin custodian and liquidity provider, while Yorkville America Digital will act as the fund’s sponsor, according to a Monday release. The amendment still omits key details, including the fund’s fee and ticker symbol, as noted by Bloomberg Intelligence analyst Eric Balchunas. Balchunas has also said the proposed ETF could find it hard to attract investors because it is entering an…

  • Tether and Rumble announced they plan to jointly buy all shares of Northern Data, giving them full control of the AI infrastructure firm.
    Cryptocurrency

    Tether and Rumble aim to buy 100% of Northern Data

    August 11, 2025 - By 

    Tether and Rumble announced they plan to jointly buy all shares of Northern Data, giving them full control of the AI infrastructure firm. In a Monday update, Rumble said the proposal would build on Northern Data’s current AI and high-performance computing (HPC) business. Tether, the issuer of the USDT stablecoin and already Northern Data’s largest shareholder, would support the deal. Tether has also signaled future collaborations in AI, peer-to-peer communications, and data storage. Tether links the deal Tether is the key link in this potential deal. It invested $775 million in Rumble in late 2024, and the two companies deepened…

  • Altcoins

    Anonymous Entity Pours Nearly $1 billion into ethereum During Price Spike

    August 11, 2025 - By 

    An unidentified entity has bought nearly $1 billion worth of ethereum over the past week as the cryptocurrency surged by 21% to cross the $4,000 milestone. The unidentified entity purchased 221,166 ETH tokens, with data analytics platform Lookonchain tracking $212 million in purchases in just 24 hours. The buyer spread their holdings across six different wallets, acquiring tokens from three major cryptocurrency firms – Galaxy Digital, FalconX and BitGo. Out of the six, the wallet with the most Ether has $181 million worth, while the wallet with the least Ether has $ 128 million worth. This buying spree comes with…