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  • Monad, an Ethereum rival, offered early investors up to $60 million to cash out. Almost all said no

    Monad, an Ethereum rival, offered early investors up to $60 million to cash out. Almost all said no

    Investors were allocated about 19.7 billion $MON, nearly 20% of the original supply. Those tokens were locked when Monad’s public network launched last November and begin unlocking after a one-year wait, followed by monthly releases over the remainder of a four-year schedule.

    That makes November the first point at which early investors begin receiving tokens they can sell normally.

    $MON traded around $0.021 on Tuesday, about 16% below the $0.025 price of last year’s public sale. Roughly 11.8 billion $MON are currently circulating, giving the token a market value near $250 million against a fully diluted value of about $2.1 billion.

    As such, the token price has struggled while activity on the network has grown.

    The amount of money deposited in Monad-based decentralized finance apps has climbed to about $895 million from roughly $360 million on July 2, according to DeFiLlama, an increase of almost 150% in about six weeks. Stablecoins on Monad are worth about $707 million, while decentralized exchanges on the network handled roughly $79 million of trading over the past day.

    That growth does not explain why investors rejected the Foundation’s offer. And without knowing how steep a discount they were asked to take, the lack of sellers cannot be read simply as a bullish call on $MON.

  • XRP slips below $1 even as a Korean regional bank adopts Ripple Payments

    XRP slips below $1 even as a Korean regional bank adopts Ripple Payments

    Fiona Murray, Ripple’s managing director for Asia Pacific, said the deal reflects growing momentum across Korea’s institutional financial sector, with banks building digital asset capability and looking for long-term infrastructure partners. Regional banks play a vital role in the real economy, she said.

    The company has spent the past year pushing $RLUSD, the dollar-pegged token it issues, as the settlement asset for institutional work. CoinDesk asked Ripple which asset the Jeonbuk deployment uses and did not immediately receive a reply.

    That distinction helps explained why a steady run of Ripple partnerships has done little for the token.

    $XRP traded above $3 at last year’s highs and has spent August drifting toward and now through $1, while Ripple has been signing asset managers, custodians and banks.

    The same split shows on Ripple’s own ledger. Tokenized real-world assets on the $XRP Ledger are worth about $1.38 billion, as CoinDesk reported earlier in the month, of which $845 million is $RLUSD. The stablecoin accounts for more than three fifths of everything issued there.

    Meanwhile, traders are betting the price turns anyway. Futures open interest stood at about $2.78 billion this week, with more than three accounts holding long $XRP positions for every one holding a short on Binance and a similar ratio on OKX, even as commentary about the token across social channels turned its most negative in three months.

  • The bitcoin price level where leveraged bulls could get whacked

    The bitcoin price level where leveraged bulls could get whacked

    “$57,000 is a key region to watch. If Bitcoin trades down into that area, we could see a massive wave of long liquidations,” Joao Wedson, CEO of crypto analytics platform Alphractal, said.

    The risk is amplified by thin trading volumes. As CoinDesk reported Monday, the number of active contracts is unusually large relative to trading volume. That combination matters a scenario, where a large batch of leveraged longs get liquidated and thin order books make it harder to absorb those liquidations at stable prices. The result could a sharper, faster drop rather than a orderly pullback.

    The question is whether $BTC will fall to $57,000.

    Past crypto bear cycles have seen severe crashes of 76% to 84%. The latest one, which began at highs above $126,000 last October, has so far only cut prices in half. If history is any guide, there may be another leg lower still to come.

    Analysts at crypto exchange Bitfinex noted that bitcoin is showing mid-to-late bear market characteristics, with price trading between the long-term holder realized price of $52,699 and the short-term holder realized price of $67,176. The realized price median, near $63,200, has provided support over the past two weeks; a break below that level could put the June low of $57,803 back in focus.

  • CNN Says White House’s Personal Attacks On Kristen Holmes Are “Beneath The Office” After Trump Fumed Over Her Questions

    CNN Says White House’s Personal Attacks On Kristen Holmes Are “Beneath The Office” After Trump Fumed Over Her Questions

    Donald Trump fumed at CNN‘s Kristen Holmes as she tried to ask him about his communications with North Korean Leader Kim Jong Un.

    In the Oval Office on Monday, Trump had been defending his relationship with Kim, saying that “I understand him. He understands.” The president posted on Truth Social on Sunday that he was ordering the military to reduce joint military exercises with South Korea.

    Holmes attempted to ask a follow-up, but Trump lashed out at her. “Quiet, quiet. You’re very disrespectful in front of this young man.”

    The president gestured at Nathaniel Rai, a 10-year-old who was rescued from rough surf in Santa Cruz by lifeguard Ryder Williams, who sat across from him in the Oval Office.

    “Okay, don’t you find her disrespectful?” Trump said to the boy. “He understands. Quiet.”

    Trump asked Holmes which outlet she was with. When she said CNN, he said, “Fake news. You’re fake news. You’re a loud, boisterous person. You’re fake news. Be quiet…You’re a fake reporter, and you report fake news.”

    Holmes is CNN’s senior White House correspondent.

    Earlier in the Oval Office availability, Holmes had asked Trump about a comment made by Sen. Jon Ossoff (D-GA), who in a speech over the weekend said that the president would rather travel with his aide, Natalie Harp, and build the White House ballroom, than do his job as president.

    “What is your response?” Holmes asked.

    Trump called Ossoff a “Pee Wee Herman lookalike” before defending the ballroom.

    The White House’s rapid response account, though, blasted Holmes and called her “a disgraceful, humiliating embarrassment to her alleged profession. @POTUS hosts a hero lifeguard in the Oval Office and she uses it as an opportunity to take a cheap shot about one of President Trump’s staffer.”

    In another post, the White House wrote to Holmes, “Someday, your children will come across your disgusting and inhumane question. They will be sickened and embarrassed to have a parent be so callous and vindictive. It’s quite troubling.”

    The network said in a statement, “Kristen Holmes is one of the most respected and accomplished journalists covering the White House. This afternoon, she did her job and asked the President of the United States a tough, relevant and newsworthy question on behalf of the American people. Public officials are free to challenge reporting they disagree with, but personal attacks on journalists for asking question are beneath the office and inconsistent with the principles of a free press. We stand firmly behind Kristen and reject these attacks in the strongest possible terms.”

    Trump said that the North Korean leader had responded to his request to have a conversation. “I get along with him. He didn’t like Biden. He didn’t like Obama. He didn’t like anybody. But I get along with him very well.” He criticized South Korea, the U.S. ally, for not helping with the war with Iran.

  • Abby Phillip Signs New Deal To Remain At CNN

    Abby Phillip Signs New Deal To Remain At CNN

    Abby Phillip has signed a new deal at CNN, where she has hosted the nightly show CNN Newsnight.

    A network spokesperson declined to comment on talent contracts.

    According to a source, Phillip recently renewed her deal to remain at the network, which she joined in 2017. CNN NewsNight‘s roundtables frequently land clips on social media, as figures from across the political spectrum debate, and at times argue, over the top stories of the day. Variety first reported on Phillip’s new contract.

    Last year, CNN signed another primetime host, Anderson Cooper, to a new contract. In addition to AC 360, Cooper hosts the Sunday newsmagazine The Whole Story.

    Phillip also hosts Table for Five on Saturday mornings and the streaming series Confessions and Obsessions. She previously was the network’s senior political correspondent and the host of Inside Politics Sunday. She previously worked at The Washington Post, ABC News and Politico.

  • Michelle Rodriguez Remembers Hayden Panettiere After Co-Hosting World Music Awards: ‘Can’t Stand How Many Young People Are Leaving Us Lately’

    Michelle Rodriguez Remembers Hayden Panettiere After Co-Hosting World Music Awards: ‘Can’t Stand How Many Young People Are Leaving Us Lately’

    Michelle Rodriguez is sharing her memories of Hayden Panettiere after the “Scream 4” star died at age 36 on Sunday.

    Rodriguez and Panettiere co-hosted the World Music Awards back in 2010. When asked what she remembers about Panettiere while walking the carpet at the 25th anniversary screening of “The Fast and the Furious,” Rodriguez told Variety, “Her curious spirit and how happy and joyous she is, because that’s her memory, right? I’ve got to tell you, man, I just can’t stand how many young people are leaving us lately. It’s disheartening, and it’s making me think, ‘What’s going on?’ It’s not normal.”

    She added, “I don’t want to speculate about anything, but it’s weird. Just in general, the amount and the volume of it since 2010 to now, it’s a lot.”

    Many celebrities shared tributes for Panettiere online after news broke of her death. Viola Davis, who starred alongside Panettiere in the 2016 drama film “Custody,” shared a tribute on Instagram, writing, “I wish the world had more time with you because I had a burning curiosity about who you were becoming. I saw this beautiful Phoenix rising from the ashes. Your tests became your testimony, and your testimony became your legacy. You will be remembered. Rest well, Hayden. Sending healing prayers to your family, your daughter, and all who loved you. May they always speak your name.”

    Panettiere’s good friend and “One Tree Hill” star Bethany Joy Lenz likewise posted a remembrance on social media, along with photos of them together throughout the years. She wrote, “I knew the wild little blonde. Was she nine? Ten? I was eighteen. She ran through the Screen Gem studio hallways at 222 E44th St. laughing and playing games in between blocking and camera rehearsals. Long, unruly curls trailing behind her. She knew her lines and everyone else’s. Her intelligence was astonishing. She understood scenes and nuance and human struggle like no child I’d ever seen on camera. And she’d sit with you for a great conversation, then giggle and go play.”

    A cause of death has yet to be released. Panettiere’s father told ABC News on Sunday night, “It is with profound sadness that we share the tragic passing of our beloved Hayden. She was an incredible light and a force of nature who brought immeasurable love and joy to all who knew her — and to the millions who watched her onscreen.”

  • Vin Diesel Says ‘Fast Forever’ Starts Shooting in December

    Vin Diesel says filming for “Fast Forever” has a start date.

    “We start shooting in December, if I can make good on the request from the studio,” Diesel told Variety Monday night at the 25th anniversary screening of “The Fast and the Furious.” “I’m in a good place, though. I had to go through four sets of writers, four years of development, to get to something that I felt would be worthy of a finale. And when I read the script a couple of weeks ago, [I cried].”

    Inside the screening, Diesel addressed the audience before the lights dimmed and shared more details about how the “Fast Forever” script brought him to tears.

    “I’m going to tell you something personal,” he said. “It was after four different writers, four years of development, and after I read the script, halfway through, one tear. By the end of the script that we crafted and worked so hard to make right for you after four years, I was crying. I couldn’t hold it back, and I had to tell everyone. And my sister said, ‘No more crying, bro.’ So I just want to say that sometimes, even the toughest guys in the world need to cry.”

    “Fast Forever,” the 11th and final mainline film in the series, hits theaters on March 17, 2028. “Fast & Furious” is Universal’s longest-running franchise and its most profitable, with a combined worldwide gross of $7.3 billion.

    While Diesel is all in on the latest “Fast Forever” draft, director Louis Leterrier recently told Polygon that he’s yet to read the script.

    “I’d love to tell you the full truth, but I can’t,” Leterrier said. “There will be an ending, and it’s great. I was very, very lucky to be part of the franchise, and I love Vin and I love Universal. They’re great to work with. So yeah. We’ll see, hopefully.”

  • Rosie O’Donnell Shines in ‘Jimmy Kimmel Live!’ Hosting Debut, Attacks ‘Mango Mussolini’ Trump and Gives Moving Hayden Panettiere Tribute

    Rosie O’Donnell Shines in ‘Jimmy Kimmel Live!’ Hosting Debut, Attacks ‘Mango Mussolini’ Trump and Gives Moving Hayden Panettiere Tribute

    When Jimmy Kimmel announced that Rosie O’Donnell would be filling in as a week-long guest host of “Jimmy Kimmel Live!” during his summer vacation, he teased it would be “a special treat” for Donald Trump, who’s harbored a 20-year-long vendetta against the comic for her mocking his bankruptcies on “The View” back in 2006.

    O’Donnell told Variety she was “surprised” by the guest-hosting offer from Kimmel, given the pair’s “adversarial relationship” and the fact that she’d never even been asked on as a guest, but she was “thankful” and accepted nevertheless, owing in large part to her support of Kimmel during Trump’s relentless campaign to get his late-night show canceled over jokes he didn’t like.

    “I support [Kimmel] in what he’s doing with the First Amendment, and our ability as entertainers and citizens to speak out against our government that’s enshrined in the Founding Fathers’ writings about our government, so I think he’s fantastic,” O’Donnell said. “And I wish that Stephen Colbert had the same kind of support when it happened to him, because he shouldn’t be gone either.”

    On Monday night, O’Donnell kicked off her “Jimmy Kimmel Live!” hosting duties by strutting out onstage in a bright pink suit adorned with flowers — to lengthy applause and chants of “RO-SIE! RO-SIE!” — before declaring, “If you thought the president hated ‘Jimmy Kimmel Live!’ when it was hosted by Jimmy Kimmel? Buckle up, people! Buckle up.”

    The former host of “The Rosie O’Donnell Show” and “The View” continued taking shots at her thin-skinned nemesis during her monologue, joking, “I’ve been living in Ireland for the past two years because of ‘Mango Mussolini.’ I read that Project 2025 and said, ‘Gotta get myself out of here!’ and I decided to go to Ireland where people are driven to drink regardless of who’s running their country.”

    At one point during her monologue, she turned to the camera and addressed Trump, saying, “Hi! I know you’re watching!”

    O’Donnell, 64, seemed cool and collected at the helm of a late-night show after decades away from TV hosting, regaling the audience with jokes about her time living in Ireland, including the disarming kindness of strangers (compared to New York City), their enthusiastic drinking and trying to ask out her (straight) pharmacist, and getting along famously with her guests, including “Ted Lasso” star Hannah Waddingham, who announced herself as a huge Rosie fan (“I can’t believe I’m talking to Rosie O’Donnell… I’m losing my mind!” she exclaimed), and “Schmigadoon!’s” Ana Gasteyer.

    Between guests, O’Donnell choked up while giving a moving tribute to the late Hayden Panettiere, who tragically passed away on Sunday at the age of 36. Panettiere had been a favorite guest of “The Rosie O’Donnell Show” as a child actress.

    “I’m just heartbroken over the passing of Hayden Panettiere last night. She was on my show many times as a little girl, and I got to know her as a grown woman,” offered O’Donnell. “And she was so brave talking about mental health before people were really ready to hear about it, and very sad. My love to her family and friends, and she will be missed. Godspeed, Hayden.”

    Overall, O’Donnell seemed to acquit herself well as a late-night host. Cue the angry Trump posts.

  • Dormant Solana Whale Returns, Buys $3.6M in SOL After Two-Year Hiatus

    Dormant Solana Whale Returns, Buys $3.6M in SOL After Two-Year Hiatus

    A Solana whale address that had remained inactive for nearly two years has resurfaced, purchasing 47,535 $SOL worth approximately $3.6 million, according to blockchain tracking platform Lookonchain. The transaction marks a notable return for an investor who previously capitalized on Solana’s price swings in 2023.

    Whale’s Historical Trading Pattern

    Lookonchain data reveals that the wallet, identified by the prefix GvHYQQ, accumulated a total of 291,790 $SOL during market downturns in August and October 2023, when the average price was $23.37. During the subsequent rally, the whale sold 191,789 $SOL at an average price of $128.36, realizing profits exceeding $20 million. This recent purchase suggests a renewed interest in Solana, possibly reflecting confidence in the network’s current fundamentals or market conditions.

    Context and Market Implications

    Whale activity often garners attention from retail investors and analysts as large transactions can influence market sentiment and liquidity. While a single purchase of this size is not enough to significantly alter Solana’s price, it may signal that high-net-worth individuals are positioning for future gains. Solana has experienced volatility in recent months, with price movements tied to broader crypto market trends, network developments, and macroeconomic factors.

    Why This Matters to Investors

    For everyday investors, tracking whale movements can offer insights into potential market directions, but it is not a reliable predictor. The whale’s previous success underscores the importance of timing and patience in crypto investing, but it also highlights the risks involved—the same strategy could have resulted in significant losses if the market had moved differently. This event adds to the ongoing narrative of institutional and high-net-worth participation in digital assets, which may influence regulatory discussions and mainstream adoption.

    Conclusion

    The return of this dormant whale to the Solana market is a noteworthy data point for on-chain analysts and crypto enthusiasts. It demonstrates the potential for substantial returns in volatile markets, while also reminding investors of the speculative nature of cryptocurrency trading. As with all market movements, due diligence and risk management remain essential.

    FAQs

    Q1: Who is the whale that bought $SOL?
    The whale is an anonymous cryptocurrency address beginning with GvHYQQ, tracked by Lookonchain. The identity of the owner is unknown.

    Q2: How much profit did the whale make previously?
    According to Lookonchain, the whale sold 191,789 $SOL at an average price of $128.36, realizing over $20 million in profit from an initial investment made at an average price of $23.37 per $SOL.

    Q3: What does this whale activity mean for Solana’s price?
    A single large purchase may create short-term sentiment shifts, but it does not guarantee future price movements. Investors should consider broader market conditions and not rely solely on whale transactions.

  • Delio CEO Jeong Sang-ho Appeals 15-Year Prison Sentence in Landmark Crypto Fraud Case

    Delio CEO Jeong Sang-ho Appeals 15-Year Prison Sentence in Landmark Crypto Fraud Case

    Jeong Sang-ho, the chief executive of the South Korean digital-asset deposit platform Delio, has formally appealed the 15-year prison sentence handed down in the first trial on fraud charges linked to approximately 70 billion won (around $51 million) in customer digital assets. The appeal, filed on Aug. 14 with the Seoul Southern District Court, was confirmed through the Supreme Court’s case search system on Aug. 16. This legal move prolongs a case that has already drawn significant public attention and raised questions about the regulation of crypto deposit services in South Korea.

    Background: The Collapse of Delio and Its Aftermath

    Delio, once promoted as a leading crypto deposit platform, abruptly suspended withdrawals in June 2023, leaving thousands of customers unable to access their funds. The suspension triggered a wave of complaints and legal actions, as well as broader scrutiny of the unregulated crypto deposit sector. The company had marketed itself with rhetoric emphasizing stability, including references to being a ‘crypto bank,’ which the court later criticized as excessive and misleading.

    The first-trial ruling, delivered on Aug. 13 by the 11th Criminal Division of the Seoul Southern District Court, sentenced Jeong to 15 years in prison and ordered his immediate remand. The court found that Delio had consistently shifted blame to other companies and avoided responsibility for the losses, while failing to protect customer assets. The sentencing came two years and three months after the initial indictment, reflecting the complexity of the case and the challenges of prosecuting crypto-related fraud.

    Legal Implications and the Road Ahead

    With the appeal now filed, the case will move to a higher court, likely the Seoul High Court, where a panel of judges will review the first-instance decision. The appeal process could take several months or longer, depending on the court’s schedule and the arguments presented by both the defense and the prosecution. For the victims, this means a further delay in any potential compensation or restitution, as the final resolution of the criminal case is a prerequisite for civil claims.

    Legal experts note that the appeal is a standard procedural step in serious criminal cases, especially those involving significant prison sentences. The defense may argue that the sentence is excessive or that the court erred in its factual findings, particularly regarding the intent to defraud. The prosecution, on the other hand, is likely to defend the original ruling, emphasizing the scale of the losses and the impact on victims.

    Why This Case Matters for the Crypto Industry

    The Delio case is one of the most prominent crypto fraud cases in South Korea, a country with a high rate of digital asset adoption. The outcome could set a precedent for how courts treat similar cases involving deposit platforms and other crypto intermediaries. It also highlights the regulatory gaps that allowed such platforms to operate without clear oversight, a concern that has prompted lawmakers to consider stricter legislation.

    For investors and users of crypto deposit services, the case serves as a cautionary tale about the risks of entrusting digital assets to platforms that promise high returns or stability without proper regulatory safeguards. The prolonged legal battle also underscores the importance of due diligence and the need for clearer consumer protections in the evolving crypto landscape.

    Conclusion

    Jeong Sang-ho’s appeal of his 15-year sentence marks another chapter in a case that has already had a significant impact on South Korea’s crypto industry. As the legal process continues, the focus remains on the victims who have yet to recover their funds and on the broader lessons for regulators and market participants. The final outcome of this appeal will be closely watched, not only for its implications for Jeong but also for the future of crypto regulation in the country.

    FAQs

    Q1: What was Delio and why did it suspend withdrawals?
    Delio was a South Korean digital-asset deposit platform that allowed users to earn interest on their crypto holdings. It suspended withdrawals in June 2023, citing operational issues, leaving customers unable to access their funds. The suspension led to investigations and eventually criminal charges against its CEO, Jeong Sang-ho.

    Q2: What are the specific charges against Jeong Sang-ho?
    Jeong was indicted on charges including fraud, related to the loss of approximately 70 billion won in customer digital assets. The court found that Delio had misrepresented its stability and shifted blame to other companies, failing to take responsibility for the losses.

    Q3: What happens next in the appeal process?
    The appeal will be reviewed by a higher court, likely the Seoul High Court. Both the defense and prosecution will present their arguments, and the court will issue a new ruling. This process can take several months, and the final decision could be appealed again to the Supreme Court.