Today's news tips:
South Korean regulators ask cryptocurrency exchanges to suspend lending services
SEC again delays approval of Truth Social and several crypto ETFs
Upbit launches API3 trading pairs for Korean Won and USDT
Chamath Palihapitiya returns to the SPAC market, looking to raise $250 million
Crypto exchange LBank is suspected of launching a US IPO plan
BlackRock holds 3.49 million ETH, accounting for 58.03% of all Ethereum ETFs
Yesterday, the Ethereum spot ETF saw a net outflow of $197 million ; the Bitcoin spot ETF saw a net outflow of $122 million.
Regulation & Macro
In accordance with the GENIUS Act, the U.S. Treasury Department is publicly soliciting financial institutions to submit innovative approaches to detecting illicit digital asset activity, including APIs, artificial intelligence, digital identity verification, and blockchain monitoring. The public is required to submit comments by October 17 (within 60 days), and their submissions will be used to evaluate the tools' effectiveness, cost, privacy, and cybersecurity.
Ukraine offers $100 billion in U.S. weapons in exchange for security guarantees
Trump administration says it will discuss acquiring 10% stake in Intel
South Korean regulators ask cryptocurrency exchanges to suspend lending services
South Korea's Financial Services Commission (FSC) has notified local digital asset exchanges to suspend cryptocurrency lending services until relevant regulatory guidelines are issued. The FSC noted that these services operate in a legal gray area and pose a risk of user losses. Previously, exchanges such as Upbit and Bithumb had launched crypto lending services, but some users had their positions forced to close due to price fluctuations. The FSC will allow repayments and extensions on existing contracts and plans to conduct on-site inspections of exchanges that fail to comply with the guidelines.
Illinois Signs Two Crypto Regulatory Bills to Strengthen Consumer Protection
The governor of Illinois, USA, signed the Digital Asset and Consumer Protection Act and the Digital Asset Kiosk Act, requiring crypto exchanges to be subject to state regulation and implement anti-fraud and cybersecurity measures. The bills also set requirements for ATM operators, including registration, fraud refunds, an 18% fee cap, and a $2,500 daily limit for new users. The governor criticized the Trump administration for relaxing federal crypto regulation. Crypto fraud losses in Illinois reached $272 million in 2024.
The U.S. Office of the Comptroller of the Currency (OCC) stated that community banks can collaborate with companies developing stablecoins to foster innovation and launch new products. The OCC will review and update its regulatory and supervisory policies as needed to support banking innovation and the development of community banks. OCC Director Jonathan V. Gould stated that stablecoins can help community banks better meet payment needs.
Project News
SEC again delays approval of Truth Social and several crypto ETFs
The SEC has postponed its decision on the Truth Social Bitcoin and Ethereum ETFs until October 8th. On Monday, it also issued a routine delay on the CoinShares Litecoin ETF, CoinShares XRP ETF, and 21Shares Core XRP ETF. The related XRP trust and 21Shares Core Ethereum ETF staking proposals were also postponed. The SEC said it needed more time to review the relevant rule changes and the issues involved.
Volkswagen Singapore (VGS) announced on August 14th that it has partnered with FOMO Pay to launch a digital currency payment service. Customers can now pay for vehicles and services using Bitcoin (BTC), Ethereum (ETH), and stablecoins (USDT, USDC, etc.). Each customer can pay up to SGD 4,500 per day, with a cumulative limit of SGD 13,500.
BNC, a listed company, announced that its BNB holdings increased from 200,000 to 325,000.
Binance Wallet Launches Mitosis Token Booster and TGE Pre-Orders
Binance has announced two exclusive events for Mitosis (MITO) within the Binance Wallet: the Booster Event and the Token Generation Event (TGE). The Booster Event will run from 08:00 AM on August 19, 2025, to 07:59 AM on August 26, 2025, Beijing Time. Users who complete multiple phases of tasks will be eligible to receive a share of an airdrop worth 1.5% of the total MITO token supply, totaling $1 million. Rewards will be distributed on the day of the TGE; if the total token value falls short, they will be reissued the following day. The TGE will allow eligible users to purchase MITO tokens first.
ETHZilla's stock code changed from "ATNF" to "ETHZ", with a total holding of 94,675 ETH
Swedish Crypto Trading Firm Safello to Launch Physically-Backed TAO ETP
Swedish crypto trading company Safello has announced that it will launch the first physically-backed TAO exchange-traded product (ETP) in the European market. The ETP is intended to be listed on the SIX Swiss Exchange, Euronext Paris and Amsterdam, and Deutsche Börse Xetra.
XT Exchange: System upgrade in progress, user funds are safe
XT Exchange, a cryptocurrency exchange, announced it is undergoing a system upgrade aimed at improving services and the trading experience. Officials stated that the team is working quickly to restore all services and that user funds are safe. Some users reported that a system issue had forced liquidation of their BTC loan orders, and they are demanding compensation or reinstatement of their orders. A review of the official website revealed significant price fluctuations.
According to the official website, XT will undergo system upgrades and maintenance starting at 11:00 AM on August 19th. During this period, spot trading, account withdrawals, financial subscriptions, and inter-account transfers will be suspended. Users may experience transaction lag, order failures, and abnormal asset display. The restoration time will be announced separately.
Upbit launches API3 trading pairs for Korean Won and USDT
According to Upbit’s announcement, API3 has been added to the KRW and USDT markets, supporting the Ethereum network.
Crypto exchange LBank is suspected of launching a US IPO plan
According to crypto influencer @_FORAB, a second- or third-tier exchange (pictured as LBank) has launched a US IPO plan, offering 250 shares of stock to invited employees and requiring them to register their passports and ID information. However, due to regulatory reasons, employees with mainland Chinese passports are unable to participate in the stock incentive program. This restriction is consistent with the requirements of another cryptocurrency company planning a US IPO, though the company has not disclosed any details about the other proposed company.
The Hong Kong Digital Asset Anti-Money Laundering Committee (DAAMC), a non-profit organization, has announced its establishment with the support of the Hong Kong Virtual Asset Industry Association, with participation from SlowMist and Yuanbi. The committee is dedicated to developing and promoting anti-money laundering and countering the financing of terrorism (AML/CFT) standards and practices by fostering collaboration among regulated financial institutions. DAAMC will address the Hong Kong Monetary Authority's (HKMA) "Guidelines on Anti-Money Laundering and Countering the Financing of Terrorism (Applicable to Licensed Stablecoin Issuers)" and explore emerging global industry compliance standards related to on-chain identity verification.
17th anniversary of bitcoin.org domain registration
According to WHOIS records, the bitcoin.org domain was officially registered by the anonymous registrar Anonymousspeech at 21:19:55 (Beijing Time) on August 18, 2008. This domain, the first major online portal established by Satoshi Nakamoto for the Bitcoin project, has been registered for 17 years.
Financing News
IVIX, an AI-powered compliance platform, announced the completion of a $60 million Series B funding round, led by OG Venture Partners (OGVP), with participation from Insight Partners, Citi Ventures, Team8, Disruptive AI, Cardumen Capital, and Cerca. The new funds will be used to accelerate its R&D capabilities to combat financial crime in areas such as complex cryptocurrency networks, anonymous blockchain transactions, and high-frequency trading. Its AI-powered graph analysis can reveal the hidden connections behind financial crimes.
Chamath Palihapitiya returns to the SPAC market, looking to raise $250 million
Former Facebook executive and billionaire Chamath Palihapitiya has launched another SPAC after nearly three years. His company, American Exceptionalism Acquisition Corp. A, has filed for a $250 million IPO and plans to list on the New York Stock Exchange, focusing on energy, artificial intelligence, cryptocurrency, and defense. The new SPAC has no warrants, and founder shares vest only when the stock price rises 50% above the offering price. AEXA Sponsor LLC will subscribe for 175,000 Class A shares for $1.75 million. Palihapitiya warned retail investors of the risks of investing, stating that only SoFi Technologies Inc. is trading above its offering price, while other SPACs have averaged losses of 75%. The offering is being led by Banco Santander SA, under the ticker symbol AEXA.
KindlyMD Completes $200 Million Convertible Bond Financing to Increase Bitcoin Holdings
KindlyMD announced the completion of a $200 million convertible bond financing round, which will be used to purchase Bitcoin and fund general operations. The company, which previously merged with Nakamoto Holdings and continues to operate under the KindlyMD name, has raised $540 million through a PIPE. KindlyMD's stock trades on the Nasdaq under the symbol NAKA.
Important data
According to data from the validatorqueue website, the number of ETH waiting to be withdrawn from the Ethereum PoS network has increased to 907,229, with a waiting time of approximately 15 days and 18 hours. During the same period, the number of ETH waiting to be activated was 265,593, with an estimated activation delay of approximately 4 days and 15 hours.
BitMine's cryptocurrency holdings exceed $6.612 billion, including 1.52 million ETH and 192 BTC
BitMine Immersion Technologies (BMNR) announced that its cryptocurrency reserves have exceeded $6.612 billion, consisting of 1,523,373 Ethereum (ETH) and 192 Bitcoin (BTC). ETH reserves increased by $1.7 billion, or 373,000 coins, compared to last week. BitMine now holds the world's largest ETH reserves and the second-largest cryptocurrency reserves, behind Strategy Inc. (MSTR).
The company aims to hold 5% of all ETH and is backed by top institutional investors including ARK, Founders Fund, and Pantera. Furthermore, BMNR stock boasts an average daily trading volume of $6.4 billion, making it the 10th most liquid stock in the United States.
BlackRock holds 3.49 million ETH, accounting for 58.03% of all Ethereum ETFs
According to CryptoQuant data, BlackRock currently holds 3.49 million ETH, and its Ethereum ETF (ETHA) accounts for 58.03% of all Ethereum ETFs, becoming the dominant force in the market.
Ethereum spot ETFs saw a total net outflow of $197 million yesterday, the second highest in history
