Tag: CRYPTOS FoxBusiness

Eric Trump has agreed to pull back from decision-making at World Liberty Financial’s proposed national trust bank while the crypto business works through the federal approval process.

Eric, World Liberty co-founder Zak Folkman, and Emirati investor Hamad Khalfan Ali Matar Alshamsi each signed separate commitments through companies connected to them. The agreements keep all three investors away from bank management decisions.

The commitments became public when World Liberty won preliminary approval late last week. They deal with the company’s ties to Trump’s family and overseas money as its affiliate pursues a federal bank charter.

Such deals have been termed passivity commitments. According to World Liberty, the reason behind making such arrangements is to ensure that particular investors do not control the trust bank.

The lawyers said the reason why the case would be considered different is that, apart from a foreign investor, who has some connections with the royal family of Abu Dhabi, it is the son of the country’s president, which makes the situation different from others. This is also true for other aspects of financial business.

World Liberty keeps major investors away from management while regulators review the bank

World Liberty spokesman David Wachsman said the company expects to remain under federal oversight for years.

“World Liberty is intentionally running towards regulation and permanent supervision, not away from it. Before full approval and for many years afterward, the World Liberty Trust Company will fully cooperate with the OCC, a federal regulator, and will adhere to all other applicable laws and regulations,” Wachsman said.

More scrutiny has been directed at the proposed crypto bank compared to other such proposals in view of the ownership associations of World Liberty. World Liberty had just made an agreement prior to Donald Trump taking the helm as president of the country to sell 49% ownership to a business that is associated with Sheikh Tahnoon bin Zayed, brother to the UAE president.

Trump and his family also hold financial interests in World Liberty. The company says none of them work there as officers, directors, or employees. The White House rejects claims that Trump’s business interests amount to a conflict or that he uses presidential power to make himself richer.

Federal reviews for bank charters involve detailed checks on the finances of organizers and directors. World Liberty’s filing lists Zach Witkoff, son of presidential envoy Steve Witkoff. It also names Scott Alper, an executive at the Witkoff Group, along with Robert Witkoff, Steve’s brother.

A federal charter would move $USD1 issuance and nearly $4 billion of reserves inside World Liberty

The charter would let World Liberty directly hold the assets supporting $USD1, its dollar-backed stablecoin.

That setup would allow the company to keep issuance and reserve management within the same organization rather than depend on outside arrangements. $USD1 is worth nearly $4 billion by market value, according to CoinGecko, making it one of the world’s largest stablecoins.

The filing also lands during a wider shift in federal policy toward crypto banking. Jonathan Gould, the U.S. Comptroller of the Currency, said after taking office that approving new bank charters would be one of his priorities.

That differed from the Biden administration, which had been far less welcoming toward charter requests from digital-asset firms.

World Liberty is part of that group. Ripple, Paxos, and Fidelity Digital Assets all won conditional trust bank approvals in 2025. Coinbase (NASDAQ: COIN) received comparable conditional approval earlier this year. Those decisions give the companies a route toward running regulated trust banks, but each still has federal requirements to meet before getting full authorization.

Trump’s administration has also moved deeper into digital-asset policy. On Wednesday, Trump met top executives from crypto companies at the White House. The meeting happened as the Securities and Exchange Commission works on finishing a broader regulatory structure for the industry.

World Liberty now faces the remaining steps in that process. Regulators still have to decide whether the company can bring $USD1’s reserve setup inside a federally supervised banking business.

Justin Sun escalated his public fight with Donald Trump-backed World Liberty Financial on Friday, accusing its $USD1 stablecoin of carrying administrative powers that allow privileged operators to move funds from frozen wallets without holder consent.

On Aug. 21, the Tron founder alleged that World Liberty’s published source code does not match the contract currently running on-chain, arguing that the discrepancy amounts to evidence of deceptive deployment and comparing it with techniques used in rug pulls.

Sun said the live $USD1 implementation can drain or reallocate balances after an address has been frozen, meaning cold storage or multisignature custody would not prevent intervention at the token-contract level. He also claimed similar privileged functions were added to the $WLFI token after the fact.

According to him:

“$USD1‘s highest-level permissions allow the issuer to move $USD1 out of YOUR account into its own wallet — or anyone else’s — without your consent. Cold wallet? Multisig? Doesn’t matter. The authority operates at the token contract level. Nothing you do can stop it.”

What $USD1’s live code actually allows

$USD1 operates through an upgradeable proxy that moved to its current StablecoinV2 implementation on April 5.

That version contains drain and reallocate functions that apply to frozen accounts. A technical review of the contract found that drain transfers a frozen address’s full balance to the contract owner, while reallocate can move a specified amount from a frozen address to another address.

Neither action requires approval from the affected holder.

That means Sun is correct that a user’s own custody setup cannot override contract-level controls once an address has been frozen.

The functions do not, however, give arbitrary users access to someone else’s $USD1 or allow unrestricted transfers from any wallet at any time. They sit behind privileged permissions and operate on frozen balances.

The more difficult issue is the gap between the deployed contract and World Liberty’s own published repository.

The project’s GitHub code includes minting, burning, freezing, and pausing functions, but does not show the drain, reallocate or V2 initializer functions present in the live implementation. The deployed code itself is publicly visible through verified blockchain explorers, so the functions are not hidden from anyone inspecting the active contract directly.

Still, a developer or investor relying on World Liberty’s own repository would not see the full set of administrative powers governing $USD1 today.

That distinction is significant because centralized stablecoins routinely retain intervention rights. USDT and USDC issuers can freeze or blacklist addresses, while BitGo, $USD1’s current issuer and technical provider, says in its terms that it may freeze or upgrade $USD1 and, in some legal or compliance circumstances, render assets permanently unusable.

Those disclosures make the existence of centralized controls less unusual. However, they do not explain why World Liberty’s public repository has not kept pace with its deployed contract.

Sun escalates attack as World Liberty awaits final bank approval

The allegations deepen a dispute between Sun and World Liberty that has been building for months.

Sun was one of the project’s early investors, committing $45 million to $WLFI. Their relationship later deteriorated after World Liberty restricted his access to the tokens, accused him of improperly moving assets and participating in activity intended to pressure $WLFI’s price, and sued him for defamation. Sun denies the allegations.

The legal fight intensified again on Aug. 20, when Sun claimed he had won a procedural victory that would keep his personal claims against World Liberty in federal court.

A day later, he broadened the dispute to $USD1, arguing that the mismatch between World Liberty’s published code and the live contract amounted to evidence of fraudulent deployment.

“Anyone in crypto knows exactly what that pattern is,” Sun said, comparing the discrepancy with techniques used in rug pulls and alleging that World Liberty had previously taken a similar approach with $WLFI.

The available evidence does not establish that World Liberty deliberately kept its repository outdated to mislead users or auditors. Nor does the code discrepancy indicate a reserve shortfall, impaired backing, or unauthorized movement of $USD1 from holder accounts.

The timing nevertheless raises the stakes for World Liberty.

Sun’s attack came seven days after the Office of the Comptroller of the Currency (OCC) granted preliminary conditional approval to World Liberty Trust Company, a proposed national trust bank that plans to assume $USD1 issuance, redemption, and reserve management from BitGo.

The approval remains subject to pre-opening requirements and does not yet authorize the bank to begin operations.

$USD1 is also approaching that transition with a smaller supply base. Circulating supply has fallen by more than $1.3 billion from a February peak above $5.3 billion to $4 billion, according to DeFiLlama data.

The decline began before Sun’s latest allegations and does not show that holders are redeeming because of the contract dispute. It does, however, leave World Liberty pursuing final bank approval while its flagship stablecoin is below its recent peak.

World Liberty has also challenged Sun’s description of the court fight. Chief Executive Officer Zach Witkoff said Sun’s account of the recent arbitration hearing was “riddled with falsehoods,” arguing that the court had made no ruling and that some claims brought by Sun’s companies belong in arbitration. World Liberty is separately seeking dismissal of Sun’s personal claims.

The dispute therefore leaves a narrower technical issue than Sun’s rhetoric suggests. He has not established that $USD1 is a rug pull or that it added its administrative controls for fraudulent purposes.

What remains harder to dismiss is the disclosure gap: $USD1’s live contract contains powers that World Liberty’s own public repository does not fully reflect, just as the company seeks final approval for a regulated trust bank that would eventually oversee the stablecoin.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• SPX6900 is up 15.63% today against the US Dollar
• $SPX/$BTC increased by 6.87% today
• $SPX/ETH increased by 5.77% today
• SPX6900 is currently trading 34.24% above our prediction on Aug 26, 2026
• SPX6900 gained 26.21% in the last month and is down -64.05% since 1 year ago

$SPX price is expected to drop by -23.34% in the next 5 days according to our SPX6900 price prediction

SPX6900 price today is trading at $ 0.457549 after gaining 15.63% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 20.21% in the same time period. $SPX performed well against $BTC today and recorded a 6.87% gain against the world’s largest cryptocurrency.

According to our SPX6900 price prediction, $SPX is expected to reach a price of $ 0.340842 by Aug 26, 2026. This would represent a -23.34% price decrease for $SPX in the next 5 days.

$SPX Price Prediction Chart

Buy/Sell SPX6900

What has been going on with SPX6900 in the last 30 days

SPX6900 has been displaying a positive trend recently, as the coin gained 26.21% in the last 30-days. The medium-term trend for SPX6900 has been bullish, with $SPX increasing by 25.52% in the last 3 months. The long-term picture for SPX6900 has been negative, as $SPX is currently displaying a -64.05% 1-year price change. On this day last year, $SPX was trading at $ 1.27.

SPX6900 reached its all-time high price on Jul 28, 2025, when the price of $SPX peaked at $ 2.27. The current $SPX cycle high is $ 0.489603, while the cycle low is at $ 0.229854. $SPX has been displaying low volatility recently – the 1-month volatility of the coin is at 4.42. SPX6900 recorded 16 green days in the last 30 days.

SPX6900 technical analysis for today – Aug 21, 2026

The sentiment in the SPX6900 markets is currently Neutral, and the Fear & Greed index is reading Greed. The most important support levels to watch are $ 0.371642, $ 0.347484 and $ 0.334604, while $ 0.408681, $ 0.421560 and $ 0.445719 are the key resistance levels.

Neutral sentiment for SPX6900

23 indicators are currently signaling a bullish prediction for SPX6900, while 9 indicators are showing a bearish forecast. With 72% of indicators favoring a positive prediction. This results in an overall Neutral sentiment for SPX6900.

Crypto market is currently experiencing Greed

Currently, the Fear & Greed index is at 72 (Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

SPX6900 moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how SPX6900 is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for SPX6900 is at 71.06, suggesting that $SPX is currently overbought.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of SPX6900 over the last 50 days. Currently, SPX6900 is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the $SPX closing price for the last 200 days. $SPX is now trading below the SMA 200, signaling that the market is currently bearish.

The bottom line about this SPX6900 prediction

After considering the above factors, we can conclude that the current forecast for SPX6900 price prediction is Neutral. $SPX would have to decrease by -23.34% to hit our $ 0.340842 target within the next five days. Moving forward, it will be important to monitor the $SPX market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term SPX6900 price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

Eightco Holdings has just given investors a detailed look at what’s sitting inside its treasury, and the numbers tell a story of a small-cap Nasdaq company betting big on three of the most talked-about trends in technology. According to a disclosure covering holdings as of August 19, 2026, Eightco Holdings investments now total approximately $389 million, spread across artificial intelligence, digital identity and the creator economy. The company, which trades under the ticker ORBS, also revealed it has been quietly buying back its own stock in large volumes over the past two weeks.

Key takeaways

• Eightco Holdings reports total assets of approximately $389 million as of August 19, 2026, at 6:00 p.m. ET.
• The treasury includes a $90 million indirect stake in OpenAI, an $18 million investment in Beast Industries, and roughly 302 million Worldcoin ($WLD) tokens.
• Eightco’s $WLD position equals about 8.4% of the token’s circulating supply, making it the largest publicly disclosed institutional holder globally.
• The company repurchased about 14 million common shares in two weeks under its $125 million buyback program.
• Eightco joined Pantera-led investors in a $52.5 million financing round for World Foundation.

Eightco Holdings’ Asset Portfolio Overview

Eightco’s balance sheet reads less like a typical Nasdaq small-cap filing and more like a venture portfolio wrapped in a public ticker. As of the August 19 snapshot, the company’s holdings totaled roughly $389 million across a mix of private-company stakes, digital tokens and cash.

Treasury Composition and Valuation

The breakdown includes a $90 million indirect stake in OpenAI held through special purpose vehicles, an $18 million investment in Beast Industries, and a smaller $1 million position in Mythical Games. On the crypto side, Eightco holds 301,971,219 Worldcoin tokens, valued at $0.37 per $WLD according to Coinbase pricing, plus 16,278 Ether. Rounding out the treasury is about $132 million in cash and cash equivalents. Together, these pieces make up the near-$389 million total that anchors the company’s strategy.

Recent Share Repurchase Program

Alongside the asset update, Eightco disclosed that it repurchased approximately 14 million shares of its common stock in the last two weeks. The buybacks fall under a previously announced $125 million share repurchase program, and the pace suggests management wanted to move quickly rather than spread the purchases out over months.

Betting on AI, Digital Identity and the Creator Economy

Eightco’s strategy is built around three megatrends the company expects to define the next decade: artificial intelligence, digital identity, and the creator economy. Rather than chasing all three broadly, Eightco has concentrated its capital into single, high-profile bets in each category — OpenAI, Worldcoin, and Beast Industries.

OpenAI Stake Anchors AI Exposure

The $90 million OpenAI stake represents about 23% of Eightco’s treasury assets, described as one of the highest disclosed concentrations of any publicly traded investment vehicle in a single private AI company. This OpenAI stake gives ORBS shareholders indirect exposure to a company whose consumer product, ChatGPT, ranks as the world’s top consumer AI app according to Sensor Tower. OpenAI has said its models now reach more than one billion active users and over two million businesses, with daily message volume climbing roughly 50% higher six months after users sign up.

Why this matters: as OpenAI’s valuation and usage figures climb, Eightco’s treasury value becomes increasingly tied to a single private company’s trajectory — a concentration that amplifies both the upside and the risk tied to any liquidity event or roadmap shift at OpenAI.

Worldcoin $WLD Holdings and Proof of Human

On the digital identity side, Eightco’s Worldcoin $WLD holdings stand at nearly 302 million tokens, equal to about 8.4% of the circulating supply and roughly 29% of the company’s treasury. That makes Eightco the largest publicly disclosed institutional holder of $WLD anywhere in the world.

Worldcoin is the native token of World, a Proof of Humanity network built by Tools for Humanity — co-founded by Sam Altman and Alex Blania — and overseen by the World Foundation. World’s Orb devices issue a privacy-preserving World ID meant to confirm that a user is a real, unique person rather than an AI agent. Under World’s business model, apps pay a fee per verification while individual users verify for free. Tools for Humanity has pointed to a combined $6.35 trillion revenue opportunity across 13 sectors, including banking, e-commerce, gaming, social media and agentic AI, as the addressable market for this kind of human-verification infrastructure.

Beast Industries Investment

The third leg of Eightco’s strategy is a $18 million creator economy investment in Beast Industries, representing about 5% of treasury assets. Beast Industries commands one of the largest direct-to-consumer audiences in the world, with combined platform followings topping 500 million, powered largely by MrBeast, the most-watched individual creator on YouTube. As AI tools make content production cheaper and more commoditized, distribution reach and audience trust — the exact assets Beast Industries has built at scale — become harder to replicate.

World Foundation’s $52.5 Million Financing Round

Beyond its own treasury holdings, Eightco has also stepped directly into the ecosystem it’s betting on. The company recently took part in a $52.5 million financing round for World Foundation, led by Pantera Capital with participation from Bain Capital Crypto, Selini Capital, Susquehanna Crypto and other investors. That move deepens Eightco’s ties to the infrastructure behind Worldcoin, rather than just holding the token itself, and signals the company sees value in supporting the network’s growth directly.

CEO Confidence Amid Market Risks

Kevin O’Donnell, Chairman and CEO of Eightco, framed the buybacks as a statement of conviction rather than a routine capital move. “We continue to believe ORBS’ common shares are undervalued to not only intrinsic value, but also the synergistic value of assets held,” O’Donnell said. “Our decision to repurchase 14 million shares in the past two weeks reflects the confidence we have in Eightco’s strategy, assets and future. We believe these share repurchases are an efficient and effective use of capital and increase shareholder value.”

That confidence comes with real exposure to volatility. Eightco’s treasury value moves with the price of $WLD and ETH, both of which can swing sharply, and much of the portfolio’s worth depends on private companies — OpenAI and Beast Industries chief among them — where valuations aren’t set by public markets and liquidity events remain uncertain. Regulatory shifts around digital assets, AI applications and biometric verification technology could also affect how these holdings are treated going forward. For a company this concentrated in a handful of positions, the strategy’s payoff depends heavily on whether OpenAI, World’s Proof of Human network, and Beast Industries continue to grow roughly as expected.

Still, the disclosure gives the market a rare, granular look at how one Nasdaq-listed company is translating three of tech’s biggest narratives — generative AI, human verification, and creator-driven media — into a single, tradable balance sheet.

FAQ

What is Eightco Holdings’ primary investment focus?

Eightco Holdings focuses on three megatrends: artificial intelligence through its OpenAI stake, digital identity through Worldcoin, and the creator economy through Beast Industries.

How much Worldcoin ($WLD) does Eightco hold?

Eightco holds nearly 302 million $WLD tokens, representing about 8.4% of the circulating supply, making it the largest publicly disclosed institutional holder.

What is the significance of Eightco’s share repurchase program?

The repurchase of approximately 14 million shares under a $125 million program reflects management’s confidence in the company’s strategy and is aimed at enhancing shareholder value.

Who is the CEO of Eightco Holdings and what is his view on the share repurchases?

Kevin O’Donnell, Chairman and CEO, said the share repurchases demonstrate confidence in Eightco’s strategy and in the intrinsic and synergistic value of its assets.

Article produced with the assistance of artificial intelligence and reviewed by the editorial team.

South Korea’s National Assembly Budget Office has recommended allowing virtual asset investors to carry forward trading losses for up to five years and raising the current tax exemption threshold of 2.5 million won (approximately $1,800), according to a report by Edaily. The proposals come as the country prepares to implement full-scale taxation on cryptocurrency gains starting January 2025.

Key Proposals in the Tax Study

The study, commissioned by the National Assembly Budget Office, outlines several measures aimed at addressing the practical challenges of taxing virtual assets. Among the most notable recommendations are:

• Introducing a five-year carryforward for capital losses from virtual asset transfers, allowing investors to offset future gains against past losses.
• Raising the minimum taxable threshold from the current 2.5 million won, which has been criticized as too low given the volatile nature of crypto markets.
• Establishing more detailed tax standards for staking, lending, airdrops, and hard forks, which currently lack clear classification.
• Introducing tax incentives to encourage trading on domestic South Korean exchanges, in an effort to prevent capital flight to overseas platforms.

Background and Context

South Korea has delayed its crypto tax regime multiple times, originally planned for 2022, due to market instability and industry pushback. The current framework, set to take effect in January 2025, would impose a 20% tax on annual gains exceeding 2.5 million won from virtual asset transactions. This threshold is significantly lower than the 5 million won exemption applied to stocks and other financial investments, a discrepancy that has drawn criticism from investors and lawmakers alike.

The National Assembly Budget Office’s report acknowledges these concerns, noting that the low threshold could disproportionately affect smaller investors and discourage participation in the legitimate crypto market. The proposal to raise the exemption and introduce loss carryforwards aligns with international practices, such as those in the United States and Germany, where losses can be used to offset gains over multiple years.

Implications for Investors and the Market

If adopted, these recommendations would provide significant relief to South Korean crypto investors. The five-year loss carryforward would be particularly valuable in a market known for extreme price swings, allowing investors to recover losses against future profits. Raising the tax threshold would also reduce the compliance burden for casual traders, who may otherwise face taxes on relatively small gains.

The proposed tax incentives for domestic exchanges are aimed at retaining trading volume within South Korea, where platforms like Upbit and Bithumb dominate. Without such measures, there is concern that traders might shift to overseas exchanges with more favorable tax treatment, reducing the effectiveness of the domestic tax regime and potentially undermining consumer protections.

What’s Next

The recommendations are not binding, but they carry weight as they come from the National Assembly Budget Office, which provides analysis to lawmakers. The final shape of the crypto tax rules will depend on legislative action in the coming months. With the January 2025 deadline approaching, stakeholders are closely watching whether the government will incorporate these proposals into the final framework.

For now, investors and exchanges are advised to prepare for the upcoming tax regime while monitoring potential adjustments. The outcome will likely influence not only South Korea’s crypto market but also serve as a reference for other countries grappling with how to tax digital assets fairly and effectively.

FAQs

Q1: When will South Korea’s crypto tax take effect?
The tax is scheduled to begin in January 2025, after multiple delays. The National Assembly Budget Office’s proposals, if adopted, could modify the rules before implementation.

Q2: What is the current tax exemption threshold for crypto gains in South Korea?
The current threshold is 2.5 million won (about $1,800) in annual gains. The Budget Office has recommended raising this threshold, though no new figure has been specified.

Q3: How would a five-year loss carryforward work?
Investors could deduct losses from virtual asset transfers against gains in the same year, and any unused losses could be carried forward to offset gains for up to five years, reducing overall tax liability over time.

The session offered some breathing room after a bruising stretch in which rising long-term Treasury yields repeatedly hammered stocks lower. The Nasdaq Composite climbed 104.12 points, the NYSE Composite gained 194.68 points, the Dow Jones Industrial Average ripped 517.84 points higher, and the S&P 500 tacked on 32.83 points during Friday’s trading session.

Even with that bounce, the real pressure point remained the bond market. Long-term Treasury yields had climbed toward multi-year highs as investors wrestled with sticky inflation, relentless government borrowing, and the swelling interest bill attached to federal debt. Higher yields bite because they raise financing costs for households and companies, while simultaneously making future corporate profits worth less in today’s dollars.

Treasury Relief Fails to Kill the Fear

Treasury Secretary Scott Bessent’s plan to expand purchases of outstanding longer-dated government bonds initially took some heat out of markets during the week. Those buybacks can lift bond prices and, in turn, push yields lower. But the relief proved thin because investors stayed locked on the forces driving yields higher, including massive deficits and oil-driven inflation risks tied to tensions involving Iran and the Strait of Hormuz. The U.S. 30-year Treasury bond yield stands at 5.273%.

That pressure explains why Friday’s gains hardly erased the week’s nerves. Financial stocks powered parts of the advance, while Ross Stores climbed after delivering stronger-than-expected quarterly results. Crypto-linked shares, including Coinbase, also caught a bid from bitcoin’s explosive move higher. Technology stocks, however, remained hostage to the bond market because high-growth companies get hit particularly hard when long-term yields climb.

Bitcoin delivered the sharpest contrast with the guarded mood in equities. Bitstamp $BTC/USD data over a four-hour timeframe shows the cryptocurrency ripping from a marked low near $62,653 to an intraday high near $79,461 before settling around $77,000. The run marked one of bitcoin’s strongest weeks since March 2023 and put the market’s swelling derivatives activity squarely under the microscope.

Bitcoin Rally Lights Up the Derivatives Market

Bitcoin futures open interest, the value of outstanding futures contracts, climbed sharply alongside the price. Exchange stats collected from coinglass.com show Binance carrying about $10.92 billion in bitcoin open interest and CME with $9.45 billion. CME’s open interest jumped 11.34% over 24 hours, while Binance’s rose 4.64%, showing that activity accelerated across both major venues.

Open interest is not automatically a bullish or bearish signal. While it reveals how much money is tied up in open positions, it cannot tell whether traders are positioned for gains or declines. Here, the increase followed a blistering price advance that triggered massive liquidations of leveraged short positions, or bets that bitcoin would fall. That kind of short squeeze can turbocharge a rally.

The broader futures picture looked messier beneath the headline increase. Bybit, Gate, Kucoin, and Hyperliquid each recorded declines in open interest over the last 24 hours, while BingX logged a large percentage increase from a smaller base. That split shows the rally was not simply a leverage stampede across every venue. Instead, participation appeared concentrated in the biggest markets and in specific corners of the derivatives complex.

On the other side of the derivatives map, options data showed a moderately bullish positioning tilt. Calls, which generally benefit when bitcoin climbs, represented 59.53% of bitcoin options open interest heading into the weekend, compared with 40.47% for puts. Calls also accounted for 54.31% of 24-hour options volume. The largest listed open-interest positions included December 2026 calls at $80,000 and $120,000, along with September calls at $70,000, $78,000, $82,000 and $100,000. Six figures is still firmly on the radar.

Options Traders Chase Upside but Keep Protection

Those positions should not be mistaken for clean-cut price targets. Investors routinely buy calls for upside exposure while buying puts to protect a portfolio against a reversal. The appearance of large put positions at $60,000 and $66,000 shows that downside insurance remains important right now, even while traders loaded up on upside exposure.

The options market’s “max pain” measure, specifically from Deribit, also highlighted the gulf between bitcoin’s Friday price and several near-term strike concentrations. Max pain is the price where outstanding options would, theoretically, inflict the greatest aggregate losses on option buyers at expiration. Deribit’s data puts the Aug. 22 level near $74,000, followed by roughly $69,000 on Aug. 23 and $66,000 around Aug. 28.

Institutional demand supplied another major piece of the advance. U.S. spot bitcoin exchange-traded funds (ETFs) are on track for more than $1 billion in weekly inflows, their strongest pace since January. These funds give investors $BTC exposure through a traditional brokerage account, making it easier for institutions and individuals to participate without directly holding or managing the cryptocurrency.

Gold and Silver Catch the Same Bid

Bitcoin was hardly the only asset reacting to the shift in yields and the dollar. The precious metal gold traded at $4,617.50 per ounce on Friday at Wall Street’s close, up 2.15% on the day, while silver traded at $69.52, gaining 1.92%. Platinum climbed 2.85%, and palladium added 1.29%, according to spot-price data.

Gold and silver pay no interest, so they become relatively more attractive when yields retreat or when investors fear inflation and currency risks will eat into fixed-income returns. A weaker dollar also makes dollar-priced metals cheaper for buyers holding other currencies. The metals rally, therefore, captured both the temporary cooling in bond-market stress and the deeper anxiety surrounding debt, inflation, and geopolitical risk.

The next test is whether yields stay contained after the Treasury’s intervention and whether Federal Reserve boss Kevin Warsh delivers clearer signals at the Jackson Hole symposium. Investors will also track oil prices, developments around Iran and the Strait of Hormuz, bitcoin ETF flows, and whether the leading crypto asset can defend its gains without another aggressive build-up in leveraged futures positions.

The Solana network is preparing to roll out a comprehensive upgrade plan aimed at increasing block production speed. According to information reported by BeInCrypto, the network aims to reduce its current 400-millisecond block production interval to 200 milliseconds. Following the completion of the four-phase upgrade, Solana is planned to produce a new block approximately every 0.2 seconds.

This change is considered a significant step towards increasing Solana’s transaction capacity and overall network performance. Shortening block production time can lead to faster transaction processing and an improved user experience on the network. Faster block production, especially during periods of high transaction volume, can help the network meet demand.

The first phase of the upgrade is planned to be activated with epoch number 1020. In the Solana network, epochs represent periods covering a specific number of slots, playing a crucial role in protocol updates and changes to network parameters.

All four planned changes have already been integrated into the Agave validator software developed by Anza, the client for the Solana network. Instead of being rolled out all at once, the updates will be implemented gradually. This will allow developers to monitor the impact of each phase on the network before moving on to the next change.

Following the successful implementation of all stages, Solana’s block production time will be reduced from 400 milliseconds to 200 milliseconds. This means the network’s current speed will be approximately doubled.

The update, implemented in line with Solana’s scalability and high processing capacity goals, aims to improve the network’s performance while enhancing its decentralization and security features. Developers are opting for a phased approach to the upgrade, allowing for controlled handling of potential technical issues.

*This is not investment advice.

The U.S. Department of Justice has expanded its case against members of the Iran-based Mabna Institute, adding charges against eight individuals and linking five of them to the 2017 hack of HBO that included a ransom demand of roughly $6 million in Bitcoin. The new indictments bring the total number of defendants in the broader cyber-espionage case to 17.

Details of the HBO Hack and Indictment

According to the DOJ, Behzad Mesri was previously indicted separately for allegedly hacking HBO’s systems, stealing internal data, and demanding a Bitcoin ransom of about $6 million. The latest charges allege that five of the newly charged defendants directly participated in that operation alongside Mesri. The Mabna Institute is accused of conducting cyberattacks against U.S. and international universities, companies, and government agencies on behalf of Iran’s Islamic Revolutionary Guard Corps (IRGC) and other entities.

Broader Context of Iranian Cyber Operations

The Mabna Institute has been linked to a series of intrusions dating back to at least 2013, targeting over 300 universities in the U.S. and abroad. The group’s activities have been characterized by U.S. officials as systematic theft of intellectual property and sensitive data. The new charges underscore the ongoing threat posed by state-sponsored hacking groups and the increasing use of cryptocurrency in ransom demands.

Implications for Cybersecurity and Crypto Regulation

This case highlights the intersection of cybercrime and digital currencies, as Bitcoin’s pseudonymous nature has made it a preferred payment method for ransomware attacks. The DOJ’s actions signal a continued effort to hold state-sponsored hackers accountable, even when they operate from jurisdictions with limited extradition treaties. For businesses and institutions, the case serves as a reminder of the persistent risks of cyber intrusion and the importance of robust security measures.

Conclusion

The expanded indictments against the Mabna Institute members mark a significant step in U.S. efforts to combat state-sponsored cybercrime. By linking the HBO hack to a broader campaign of intrusions, the DOJ is reinforcing its commitment to pursuing justice across borders. As the legal proceedings unfold, the case is likely to draw further attention to the challenges of prosecuting international cybercriminals and the role of cryptocurrency in modern extortion schemes.

FAQs

Q1: What is the Mabna Institute?
The Mabna Institute is an Iran-based group accused by U.S. authorities of conducting cyberattacks on behalf of Iran’s Islamic Revolutionary Guard Corps (IRGC). It has been linked to intrusions targeting universities, companies, and government agencies worldwide.

Q2: What was the HBO hack about?
In 2017, hackers breached HBO’s systems, stole internal data, and demanded a ransom of approximately $6 million in Bitcoin. The DOJ alleges that Behzad Mesri and five other newly charged defendants were involved in this operation.

Q3: How many people have been charged in connection with the Mabna Institute?
With the latest charges, a total of 17 individuals have been indicted in connection with the Mabna Institute’s alleged hacking activities. The new charges add eight defendants, five of whom are linked to the HBO hack.

Ripple is backing a new institutional credit fund that will lend its $RLUSD stablecoin to fintech and payments companies on the $XRP Ledger, alongside lending platform Clearpool and credit manager Cicada Partners.

The fund will provide working-capital loans denominated in $RLUSD, per a release shared with CoinDesk, with Cicada sourcing borrowers, setting loan terms and monitoring credit risk. Clearpool is building the infrastructure used to create and manage the lending pools, while Ripple provides capital as an investor alongside other institutions.

Neither the size of the fund nor Ripple’s commitment was disclosed.

None of it is live on the $XRP Ledger’s main network yet, however. Clearpool is testing the integration on a development network, and the two ledger features underpinning the product, a lending protocol known as XLS-66 and single asset vaults under XLS-65, are still going through the network’s amendment voting process, as CoinDesk earlier reported.

Those two do the work the fund needs. The lending protocol handles issuing and repaying loans directly on the ledger. The vault system pools money from several lenders under a manager who decides where it goes, which in this case is Cicada.