Another week, another set of big swings for crypto.
Missed anything? Don’t worry – here’s a recap of everything you need to know.
Ethereum touched a new all-time high of $4,945, before pulling back to around $4,600. The surge comes on the back of strong inflows into spot ETH ETFs led by BlackRock and Fidelity, while companies like SharpLink Gaming added billions in reserves. A mix of macro optimism, hints of Fed rate cuts, and growing real-world adoption pushed momentum higher.
With bullish technical signals in play, Ethereum’s climb feels like a clear show of strength in the broader crypto rebound.
Gemini just dropped a new weapon in the crypto rewards war: the XRP-Gemini Credit Card. Backed by Ripple and issued by WebBank, the card gives consumers up to 4% back on gas, EV charging, and rideshares – not in points, but in XRP or any of 50+ cryptos.
With a $200 XRP bonus and seamless integration with Ripple’s RLUSD stablecoin, the launch lands at a moment when XRP is breaking records, ETFs are looming, and Ripple’s global partnerships are stacking up.
Grayscale is doubling down on altcoins. The asset manager has filed with the SEC to turn its Avalanche Trust into a spot AVAX ETF, backed by Coinbase Custody, BNY Mellon, and a Nasdaq listing plan. At the same time, it has moved forward with Cardano (ADA) and Polkadot (DOT) ETFs, filing S-1s after earlier exchange submissions.
Bloomberg analyst James Seyffart confirmed these aren’t new filings but the next step. The message is clear: altcoin ETFs are coming.
The US Department of Commerce has started publishing GDP data directly on public blockchains, marking a first for any federal agency. July 2025 figures were posted across nine networks including Bitcoin, Ethereum, Solana and Polygon, with Chainlink and Pyth oracles helping distribute the data.
Commerce Secretary Howard Lutnick called it “only fitting” under President Trump, branding him the “Crypto-President.” The move, backed by Coinbase, Gemini and Kraken, aims to make economic data tamper-proof and globally accessible while showcasing blockchain’s broader utility.
Trump Media has entered a $6.4 billion venture with Crypto.com, making CRO the centerpiece of Truth Social’s rewards system. Under the deal, Trump Media will purchase $105 million worth of CRO tokens, around 2% of supply, while Crypto.com takes $50 million in DJT stock.
A new firm, Trump Media Group CRO Strategy Inc., will merge with Yorkville Acquisition Corp. and trade under the ticker “MCGA.” The news sent CRO up 25% and lifted DJT shares 3.5%, marking one of crypto’s boldest crossovers yet.
Binance futures trading, a $90 billion market, briefly went offline on Aug. 29, leaving traders locked out for about 25 minutes. The issue hit Binance’s USD-margined contracts (UM), which settle in USDT or USDC, while coin-margined products appeared unaffected. Binance said the problem was resolved at 07:00 UTC but gave no details on the cause.
The pause was enough to shift market dynamics: Coinglass data showed Bybit overtook Binance in liquidations during the same period.
American Bitcoin, backed by Donald Trump’s sons, is set to hit Nasdaq in early September through a merger with Gryphon Digital Mining. The new company will trade under the ticker ABTC, with Eric Trump, Donald Jr., and Canadian miner Hut 8 holding a dominant 98% stake.
Hut 8 alone controls 80%. CEO Asher Genoot said a merger gave “faster access to capital.” With plans stretching to Asia, the listing mixes politics, Wall Street, and Bitcoin in one bold move.
Tether is bringing its flagship stablecoin to Bitcoin. The company confirmed that USDT will launch on RGB, a new protocol designed for private, scalable, and user-controlled digital assets on the Bitcoin blockchain.
This move means users can hold and transfer USDT directly alongside their BTC in the same wallet, with features like offline transactions also in the works. CEO Paolo Ardoino said Bitcoin “deserves a stablecoin that feels truly native,” calling it a step toward a freer financial future.
The race for the first SEI ETF in the U.S. is officially on. 21Shares has filed with the SEC, just months after Canary Capital submitted its own application in April. The fund would track SEI’s price with Coinbase Custody as custodian and CF Benchmarks handling pricing. 21Shares is also weighing staking rewards, though tax and regulatory hurdles remain.
Calling the move a “key milestone,” the firm is betting SEI could soon step into the spotlight alongside Bitcoin and Ethereum ETFs.
El Salvador has moved its 6,274 Bitcoin, worth around $678 million, from one public address into 14 new wallets, each holding no more than 500 BTC. Officials say the shift is to reduce future risks from quantum computing, which could one day crack Bitcoin’s cryptography.
Ethereum co-founder Vitalik Buterin also recently warned quantum computers might break today’s systems by 2040, with even a 20% chance before 2030.
Here’s a few quick hits you shouldn’t miss!
Pantera Eyes $1.25B for Nasdaq Solana Play: The investment firm is preparing a massive raise to turn a listed company into “Solana Co.,” adding to its $300M bets and fueling rising institutional appetite for SOL.
Mantle Tops DeFi Treasury Rankings with $4B+: The project now holds the largest treasury in decentralized finance, outpacing Ethereum Foundation and ENS. Backed by strong community support, its token-heavy reserves fuel ecosystem growth and long-term stability.
Google’s Crypto Moves Spark Centralisation Fears: MetaMask now allows wallet creation with Google and Apple logins, while Google Cloud tests its own blockchain with CME Group. New Play Store rules further cement Big Tech’s grip on digital finance.
CFTC’s Caroline Pham Linked to MoonPay Role: Acting chair Caroline Pham is expected to exit once a new leader is confirmed, with reports tying her next move to crypto payments firm MoonPay. The regulator declined to comment on speculation.
Philippines Weighs Blockchain Budget Plan: Senator Bam Aquino has proposed putting the entire national budget on-chain, promising full transparency in government spending. The move would be a global first if it gains political backing.
Major shifts to expect ahead
That’s a wrap on this week’s digest – see you with more updates next week!
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