Latest Crypto News & Market Updates

US Treasury seeks public comment on GENIUS Act stablecoin rules

Quick TakeUnder the law, entities generally cannot issue payment stablecoins in the U.S. without obtaining an appropriate federal or state license.In July 2025, President Trump signed a bill that would create a federal regulatory framework for stablecoins, marking the first significant crypto-related legislation to be signed into law.　　The U.S. Treasury Department on Monday will begin seeking public comments on the GENIUS Act, the landmark crypto legislation signed into law last year.　　The Treasury issued a Notice of Proposed Rulemaking on Monday seeking public comment on how it plans to implement Section 3 of the Guiding and Establishing National Innovation for U.S. Stablecoins Act.　　The GENIUS Act is expected to take effect on Jan. 18, 2027. Under the law, entities generally cannot issue payment stablecoins in the U.S. without obtaining an appropriate federal or state license. Digital asset service providers will also face restrictions on offering or selling foreign-issued payment stablecoins unless the foreign issuer can comply with U.S. legal orders and applicable reciprocal arrangements.　　Treasury seeks clarity on stablecoin issuance　　In July 2025, U.S. President Donald Trump signed a bill that would create a federal regulatory framework for stablecoins, marking the first significant crypto-related legislation to be signed into law.　　Beginning July 18, 2028, digital

08-18Industry

BitMart founder dismisses calls for audit as users report blocked funds, unpaid employees

SummaryBitMart founder Sheldon Lee dismissed as “fabricated rumors” an X post alleging that customers cannot withdraw funds and some employees have not been paid their July salaries, saying the exchanges Chinese-language account was hacked.Users and critics, including onchain investigator ZachXBT, are demanding that BitMart restore withdrawals or submit to independent third-party audits, as the exchange winds down operations ahead of its final trading day on Aug. 26.Distressed investment firm Echo Base said it proposed a funded restructuring package for BitMart but received no response, warning that the situation is unlikely to be resolved without a court process to address widespread customer claims.　　BitMart founder Sheldon Lee dismissed calls to explain why, according to a post on X, some customers of the exchange are unable to withdraw their funds and some employees were not paid their July salaries.　　The post on the exchanges Chinese-language account, which Lee said had been hacked, called on him and business partner Yi Li to open the books, including wallets, assets, liabilities, and usable reserves, to independent verification. It gave Lee until Aug. 19 to respond.　　Last month, BitMart said it was winding down operations and Aug. 26 would be the final trading day. Many users are reporting withdrawals

08-18Industry

6 Altcoins That Could Benefit From Treasurys New Stablecoin Rules

Treasurys new stablecoin rules would decide which dollar tokens can legally reach US buyers. Chains already running on a licensed dollar hold the edge, and six altcoins sit closest to it.　　Nothing is final yet, and Treasury opened a 60-day comment period. The hard deadlines land in January 2027 and July 2028.　　How Treasurys New Stablecoin Rules Sort the Chains　　Congress passed the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act in July 2025. The idea is simple. A dollar token needs a US license to reach American users.　　Sponsored　　Sponsored　　Two dates carry the weight. Unlicensed issuance inside the country ends on January 18, 2027. Then from July 18, 2028, platforms generally cannot sell payment stablecoins to US persons. Only licensed issuers pass.　　No issuer holds that license yet, because licensing opens in 2027. However, the queue has already formed.　　The Office of the Comptroller of the Currency (OCC) approved five trust bank charters last December on a conditional basis. Circle, Ripple, Paxos, Fidelity Digital Assets, and BitGo made that list. Circle then went further and won final approval in July.　　Treasury Secretary Scott Bessent framed the goal as certainty.　　“Treasury welcomes input from stakeholders as we work to provide the regulatory certainty businesses need to innovate

08-18Industry

Strategy raises $334M through stock sales but buys no Bitcoin

Strategy raised $333.7 million through common stock sales last week but made no Bitcoin purchases, leaving its holdings unchanged at 840,447 BTC.　　The company sold 3.46 million MSTR shares between Aug. 10 and Aug. 16 through its at-the-market offering program, according to a Monday 8-K filing with the US Securities and Exchange Commission.　　Of the proceeds, $52.4 million was used to fund the twice-monthly dividends on STRC preferred stock, while $132.2 million funded repurchases of the same security. Another $149.1 million was added to the companys US dollar reserve.　　Strategy repurchased about 1.39 million STRC shares for $132.2 million during the week. It made no repurchases of its other preferred securities or MSTR common stock.　　STRC was down 0.12% in premarket activity Monday at $94.67 after closing Friday 1.03% lower at $94.78, according to Yahoo Finance.　　The company reported no Bitcoin purchases or sales during the period. Its 840,447 BTC were acquired for an aggregate $63.36 billion, including fees and expenses, at an average purchase price of $75,385 per coin.　　Strategys US dollar reserve stood at $4.80 billion as of Sunday, including expected proceeds from stock sales that had not yet settled. The reserve is intended to support preferred-stock dividends and interest payments on outstanding debt.　　Related:

08-18Industry

Bitmine nears 5% of Ethereum supply despite $8.4B in unrealized losses

Tom Lee‘s Bitmine Immersion Technologies, an Ethereum treasury company, resumed its Ether purchases last week, bringing it closer to a key business target of owning 5% of the second-biggest cryptocurrency’s supply despite challenging market conditions.　　The company disclosed Monday that it acquired 9,926 Ether (ETH) during the week ending Aug. 16, bringing its total holdings to roughly 5.82 million ETH, or about 4.8% of Ethereum‘s circulating supply. At an ETH reference price of $1,893, Bitmine’s Ether holdings were valued at roughly $11 billion. However, much of the companys ETH was acquired at significantly higher prices.　　Ethers price was little changed on Monday, sitting just above $1,900.　　The latest purchase puts Bitmine within striking distance of its long-term “Alchemy of 5%” target of holding 5% of the total ETH supply.　　Bitmines conviction has been tested by a prolonged bear market for Ether, which has sharply eroded the value of its digital asset treasury. The company is sitting on more than $8.4 billion in unrealized losses on its ETH holdings, according to industry data.　　With a portfolio value of more than $11 billion, BitMines unrealized losses are around 43%. Source: DropsTab　　Still, Bitmine has continued accumulating Ether, making purchases every week since launching its ETH treasury strategy in

08-18Industry

Keep America 'The Crypto Capital of the World': US Treasury Chief Bessent Speaks Out on Stablecoins

U.S. Treasury Secretary Scott Bessent announced on X that the Treasury is moving toward the practical implementation of the GENIUS Act, which is designed to “keep America the crypto capital of the world.” The statement followed the Treasurys official issuance of a Notice of Proposed Rulemaking (NPRM), launching the development of federal rules for payment stablecoins.　　The new framework fundamentally changes the rules of the game by introducing mandatory licensing and barriers for foreign issuers.　　According to Bessent, the White House and Congress have provided the industry with “clear rules of the road” that will give businesses the regulatory certainty needed to innovate and grow within the United States.　　US Treasury Secretary Scott Bessent announces the implementation of the GENIUS Act framework for payment stablecoins, Source: X account of Bessent　　The implementation process will take place in several stages, and the department has already opened a 60-day window for public comments. As Bessent emphasized, the Treasury “welcomes input from stakeholders” as it works to finalize the regulatory framework.　　The full launch of strict government oversight is scheduled for 2027–2028. The Treasury expects rigorous control over digital assets not only to protect the domestic market but also to help “cement the role of the U.S. dollar

08-18Industry

Ledger CEO: 'Total Safety Doesn't Exist'

Ledger CEO Pascal Gauthier has argued that the cryptocurrency industry should stop treating security as a problem that can be solved by burdening users with more responsibilities. He has stated that “total safety” does not actually exist.　　Currencies s design should be taken on their word, ours included,” he wrote.　　Therefore, security should be viewed as an ongoing process of testing and improvement.

08-17Industry

Binance Maintained Russia Data Channel After Exit, Documents Show

Binance responded to a 2025 request from Russian investigators for the transaction history of Yuri Belenkiy, a Russian IT specialist, supplying identity data that was folded into an interim case outline sent to the offices of Russias prosecutor-general, according to law-enforcement documents reviewed by Reuters.　　Russias Investigative Committee alleged in an Oct. 13, 2025, statement that Belenkiy sent more than $700 between January 2023 and March 2024 to Ukrainian military-linked organizations, including a group known at different times as the Azov Brigade or Azov Regiment, which Moscow designates as a terrorist organization.　　EXCLUSIVE: Binance gave Moscow client details used to charge Russian over Ukraine donations, documents show 　　This is not simply a routine law-enforcement data request. It is evidence that Binance retained an operational channel with Russian authorities two years after declaring a full exit from the Russian market, and that the exchanges compliance apparatus supplied data used to prosecute a donor to Ukraine crypto donations campaigns, Moscow treats as terrorism financing.　　DISCOVER: Best Meme Coins to Buy in 2026　　Binance Russia Exit and the Documents Reuters Reviewed　　Binance announced in a statement carried by The Straits Times on Oct. 4, 2023, that it was making a “full exit” from Russia, with chief compliance officer

08-17Industry

What Stripe's $7 Billion OpenRouter Deal Actually Means for AI

In briefStripe finalized an agreement to acquire OpenRouter for more than $7 billion.OpenRouter routes traffic from around 8 million developers to more than 400 AI models and takes about 5% on the inference spend passing through it.Stripe already processed OpenRouters payments, so the deal folds AI metering and AI billing into a single pipeline it owns end to end.　　Stripe has finalized an agreement to buy OpenRouter for more than $7 billion, according to Bloomberg, three months after the AI routing startup raised $113 million at a reported $1.3 billion valuation.　　The Wall Street Journal reported talks last month at a figure closer to $10 billion, so somebody negotiated.　　OpenRouters annualized revenue was around $50 million in March, per Sacra estimates. That puts the deal somewhere near 50 times revenue, which is not a multiple anyone pays for cash flow.　　What Stripe is buying　　So what is Stripe, a company known for processing digital payments, actually buying？ Position. OpenRouter sits between roughly 8 million developers and more than 400 AI models, giving them one API key instead of a dozen separate integrations. It owns no GPUs, trains nothing, and takes about 5% of the value paid per overall usage.　　Stripe already handled OpenRouters invoicing and tax,

08-17Industry

OpenAI secures 20-year Ohio data center lease backed by Nvidia

OpenAI has signed a 20-year lease for 4.25 gigawatts of initial AI capacity at an Ohio data center supported by up to $105 billion in guarantees from Nvidia.　　SummaryOpenAIs lease at the PORTS-Pike campus is expected to begin in phases in 2028.Nvidia has capped its initial guarantee obligations at a combined $105 billion.SB Energy will build, own, and operate the Pike County data center.Nvidia will invest $1.5 billion in SB Energy and provide the campuss AI systems.　　Nvidias Aug. 17 announcement said OpenAI will use the PORTS-Pike Technology Campus in Pike County, where SB Energy will build, own, and operate the infrastructure under the long-term lease.　　The chipmaker will serve as the campus‘s exclusive AI compute provider, supplying its DSX AI factory platform. OpenAI’s systems will use Nvidia GPUs, CPUs, and networking equipment, with the first capacity scheduled to become available in phases beginning in 2028.　　Built across private and federal land, the campus will occupy the former Portsmouth Gaseous Diffusion Plant and surrounding property in southern Ohio. SB Energy is developing the project with AEP Ohio, the U.S. Department of Energy, and the Department of Commerce.　　Nvidia has secured the land, power, and building shell required for an initial 4.25 gigawatts of IT load.

08-17Industry

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