Crypto buying and selling remained the spine of eToro’s enterprise within the second quarter, producing roughly 91% of the corporate’s complete income, based on its newest earnings report. That’s down barely from the 93% share recorded within the first quarter, suggesting a modest improve within the contribution from equities and different buying and selling segments. For the three months ended June 30, income from cryptoassets totaled $1.91 billion, hit by a small internet lack of $8.4 million from crypto derivatives buying and selling. After subtracting the $1.88 billion price of cryptoasset income, digital asset buying and selling nonetheless made up the overwhelming majority of eToro’s $2.09 billion in complete income, the submitting exhibits. In Q1, crypto-related income reached $3.5 billion, with an extra $77 million achieve from crypto derivatives, accounting for greater than 93% of the corporate’s $3.76 billion complete income. The corporate has been more and more betting on crypto. Final month, it unveiled plans to tokenize U.S. stocks on the Ethereum blockchain to boost its buying and selling capabilities. Etoro went public at $52 a share again in Might, elevating about $310 million from its Nasdaq itemizing. The corporate’s shares at the moment are buying and selling at $50.7, down greater than 8.2% since its buying and selling debut. Powered by WPeMatico

NEAR Protocol noticed sharp intraday swings on Aug. 12, with costs climbing from $2.643 to $2.678 by 13:35 earlier than reversing swiftly. The sell-off, concentrated between 13:38 and 13:49, erased most hourly beneficial properties because the token fell to $2.634 on heavy quantity exceeding 200,000 tokens per minute. Revenue-taking on the $2.675–$2.680 resistance stage—recognized in prior classes—capped the rally, whereas the $2.630–$2.635 zone as soon as once more supplied agency assist. NEAR closed the hour at $2.644 after a low-volume rebound try. Over the prior 24 hours, NEAR rebounded strongly from $2.57 assist to the touch $2.73, a 6% vary that showcased aggressive shopping for curiosity. The transfer adopted an preliminary dip from $2.68 to $2.58 earlier than consumers regained management, sending costs again to $2.68 with distinctive turnover of 8.01 million tokens. Resistance round $2.68–$2.73 stays intact, with $2.57–$2.59 proving a dependable ground throughout repeated checks. Institutional demand underpinned the rally, with $572 million in international inflows into digital asset funding merchandise final week, together with $10.1 million directed towards NEAR. The momentum got here as U.S. coverage shifts allowed digital belongings in 401(ok) retirement plans, sparking $1.57 billion in late-week inflows and boosting confidence throughout blockchain markets. Analysts view this as a pivotal second for mainstream adoption, doubtlessly broadening NEAR’s investor base. Technically, NEAR’s chart reveals a resilient restoration sample supported by high-volume surges at key ranges. Sturdy shopping for close to $2.57–$2.59 repeatedly sparked sharp reversals, whereas the higher $2.68–$2.73 band continues to attract heavy promoting strain. With institutional flows accelerating and regulatory developments favoring crypto adoption, NEAR’s value motion could stay unstable however underpinned by strengthening long-term assist. Technical indicators Excessive-volume surge exceeding the 24-hour common of two.73 million establishes formidable resistance round $2.68-$2.73. The $2.57-$2.59 zone has confirmed remarkably sturdy as assist by a number of profitable examinations and volume-backed reversals. Probably the most important bearish strain materialized between 13:38 and 13:49, whereby NEAR plummeted from $2.67 to $2.63, successfully erasing nearly all hourly beneficial properties inside an 11-minute timeframe accompanied by exceptionally elevated promoting quantity exceeding 200,000 tokens per minute. This unstable configuration suggests profit-taking actions on the $2.68-$2.68 resistance zone established through the antecedent 24-hour evaluation. The $2.63-$2.64 stage continues to furnish important assist, with the session concluding at $2.64 following a modest restoration try that lacked ample quantity conviction. Disclaimer: Components of this text had been generated with the help from AI instruments and reviewed by our editorial crew to make sure accuracy and adherence to our standards. For extra info, see CoinDesk’s full AI Policy. Powered by WPeMatico

Ether (ETH) has climbed 5% previously 24 hours to $4,470, its highest value since December 2021. Serving to the bullish motion in crypto generally was Tuesday morning’s Client Worth Index report. Whereas the info was combined and inflation stays above the Federal Reserve’s 2% goal, market members lifted bets on the U.S. central financial institution trimming rates of interest at its subsequent assembly in September. Boosting ether particularly was a brand new huge leg greater within the rising company treasury technique motion. Already the proprietor of roughly $5 billion in ETH, Tom Lee’s Bitmine Immersion Applied sciences (BMNR) disclosed plans to raise up to $20 billion in capital for additional purchases. The transfer extends a months-long rally for the Ethereum community’s native token, which additionally continues to outperform bitcoin after years of extreme relative weakeness. The ETH/BTC ratio rose above 0.37 on Tuesday, now greater by practically 50% over the previous month, although nonetheless decrease by 15% year-over-year. A key driver in current weeks has been surging inflows into U.S. spot ether exchange-traded funds. On Monday, ether ETFs noticed a document $1 billion in each day inflows, once more surpassing their bitcoin equivalents. “Ethereum’s outperformance in the present day, with a achieve of over 4% towards Bitcoin’s muted transfer, displays the market’s focus by itself set of highly effective catalysts,” mentioned Axel Rudolph, senior technical analyst at IG. “Institutional inflows into US spot ETH ETFs following the US’s CPI print, coupled with rising confidence within the community’s current upgrades, are proving much more compelling for traders than the broader macro-driven momentum underpinning bitcoin.” Supporters have more and more dubbed Ethereum “the blockchain of Wall Road,” pointing to its central position in tokenizing belongings, internet hosting decentralized finance platforms and powering settlement programs that resemble conventional market infrastructure. “We’re seeing a wave of renewed curiosity from institutional and complex traders who view ETH as greater than only a ‘second-place’ crypto,” mentioned David Siemer, co-founder and CEO of Wave Digital Belongings. “They see it because the spine of DeFi, tokenization, and the biggest sensible contract ecosystem.” “Given the backdrop of larger regulatory readability out of the U.S. and the passing of the GENIUS Act, mixed with ETH-focused digital asset treasuries equivalent to Sharplink shopping for vital quantities of the token, and a resurgence in DeFi exercise throughout ETH-focused protocols, it’s clear there’s broader institutional curiosity within the ecosystem,” he mentioned. If the Fed delivers the speed reduce merchants are betting on, the mixture of looser financial coverage, robust ETF demand and strategic positioning by massive traders may additional gasoline ETH’s run — though, as with previous rallies, volatility might show simply as intense on the way in which down. UPDATE (August 12, 17:53 UTC): Provides additional commentary from David Siemer, co-founder and CEO of Wave Digital Belongings. Powered by WPeMatico

Monero, the main privacy-focused cryptocurrency, is dealing with probably the most severe safety challenges in its historical past. Qubic, a undertaking led by IOTA co-founder Sergey Ivancheglo, says it now controls more than 51% of the network’s hashrate. In blockchains secured by proof-of-work algorithms, that is the identical technique utilized by Bitcoin, that degree of management can enable an attacker to rewrite transaction historical past, block transactions or perform double-spend assaults. In a blog post, Quibic described the takeover as an “experiment” that was a “strategic, and at instances combative, utility of recreation concept.” Builders, miners and safety specialists are actually debating whether or not the community’s decentralization is as strong as many believed. What’s a 51% assault? In a proof-of-work blockchain, miners compete so as to add new blocks of transactions to the chain. If one group controls greater than half of the entire computing energy, they’ll outpace each different participant. That degree of management opens the door to a spread of capabilities that may undermine confidence within the community. These embody chain reorganizations, generally abbreviated to “reorg,” which entails changing beforehand confirmed blocks with new ones. It additionally covers double spends, that means sending the identical token twice, Arguably essentially the most impactful a part of a 51% assault is censoring transactions —stopping some funds from being confirmed — which is especially pertinent within the case of Monero given its give attention to privateness These assaults aren’t theoretical. Ethereum Traditional was hit several times in 2020, costing tens of millions. Bitcoin Gold confronted related incidents in 2018 and 2020. Smaller tokens like Verge have been focused and destabilized. Why Monero continues to be in danger Monero makes use of the RandomX algorithm to discourage mining utilizing utility particular built-in circuits (ASICs), encouraging CPU mining as an alternative. This design was meant to maintain the community decentralized. That’s the reason Qubic’s fast rise is so important. From lower than 2% of Monero’s hashrate in Might, it grew to greater than 25% by late July, and now claims to have crossed the 51% threshold. Qubic runs a “helpful proof-of-work” system that turns Monero mining rewards into USDT, then makes use of these funds to purchase and burn its personal QUBIC tokens. The mechanism is uncommon, combining a mining technique with a token provide sink. And it has steadily elevated Qubic’s management over Monero’s hashpower. Ledger CTO Charles Guillemet said that “sustaining this assault is estimated to value $75 million per day,” earlier than including that whereas it’s probably profitable, “it threatens to destroy confidence within the community virtually in a single day. Different miners are left with no incentive to proceed.” BitMEX analysis added: “Qubic say the tip objective is to takeover all of the block rewards of Monero, which primarily means full and sustained egocentric mining. It isn’t clear whether or not they can really obtain that. If this may be achieved, the worth of the coin might fall.” It did. Monero’s XMR is at present buying and selling at $252, down 6% over the previous 24 hours to compound a 13.5% decline over the previous seven days. What does this imply for Monero? Within the weblog publish, Qubic stated the takeover was not about breaking Monero, however about proving that financial incentives and a coordinated mining technique can provide a smaller protocol efficient management over a a lot bigger one. The experiment, Qubic says, was to check whether or not mining sources might be profitably diverted from a goal community into one other protocol’s financial loop. At its peak, Qubic claims its Monero mining was almost thrice extra profitable than conventional Monero mining. A restructuring of its reward system, permitted by its group, boosted payouts to its validators and drew miners away from different Monero swimming pools. Qubic’s first push for majority management was met with sustained distributed denial-of-service (DDOS) assaults that disrupted peripheral companies for over per week however did not take down its core community. These DDOS assaults continued on Tuesday, Ivancheglo revealed on X, in what he decribes as “Monero Maxis returning the favor.” Qubic claims it has up to now stopped wanting totally taking on consensus, citing issues in regards to the potential impression on XMR’s worth. Are different blockchains susceptible to assault? Bitcoin’s hashrate is so excessive {that a} 51% assault can be prohibitively costly. However mid-tier proof-of-work cash are extra susceptible. The price of gaining majority hashpower on Monero, Ethereum Traditional or Bitcoin Gold is much decrease. Privateness-focused cash face an added problem. Their censorship-resistant nature signifies that if one celebration controls the community, it undermines the very privateness they’re designed to guard. Powered by WPeMatico

NEW YORK — Terraform Labs founder Do Kwon pleaded responsible to conspiracy to commit fraud and wire fraud Tuesday morning, three years after the dramatic $60 billion collapse of the Terra/Luna stablecoin ecosystem. The 33-year outdated South Korean nationwide arrived in courtroom in handcuffs and a canary yellow jail jumpsuit, a steel chain round his waist. He admitted that he “knowingly engaged in a scheme to defraud and did actually defraud” purchasers of the TerraUSD (UST) stablecoin. Choose Paul Engelmayer, who’s overseeing the case, walked the Terra creator by means of the costs to determine that Kwon was certainly responsible of the allegations specified by an earlier indictment, which included seven different prices equivalent to securities and commodities fraud. Underneath the costs within the authentic indictment, Kwon confronted a most sentence of 135 years in jail if convicted on all counts. Kwon’s plea settlement with the federal government slashes his most sentence to 25 years — 20 for the wire fraud cost, and 5 for the fraud conspiracy cost, which the choose can both order to be served consecutively or concurrently. All through the listening to, the choose famous that he was not certain by the DOJ’s plea settlement, which means he may sentence Kwon to a lengthier sentence than the DOJ instructed. Underneath the phrases of the plea settlement, laid out by an assistant U.S. legal professional, Kwon agreed to pay a most forfeiture of $19,286,774.78 plus curiosity, forfeit what Engelmeyer described as a “substantial set” of properties and pay restitution. He additionally agreed to not contest the factual allegations within the indictment. In change, the DOJ agreed to suggest a most sentence of 12 years. As soon as he is served half of his final sentence, the DOJ agreed to help any movement Kwon makes for a global prisoner switch. Kwon’s legal professional stated there stay open prices in opposition to him in South Korea. In a ready assertion, Kwon stated he’d labored with others to defraud UST purchasers in South Korea, the Southern District of New York and different places between 2018 and 2022, and that he’d used worldwide and interstate wires to take action. “Between 2018 and 2022 within the Southern District of New York and elsewhere, I knowingly agreed with others to have interaction in a scheme to defraud, and did actually defraud, purchasers of the cryptocurrencies issued by my firm, Terraform Labs,” Kwon stated. “In 2021, I made false and deceptive statements about why [UST] regained its peg,” he added, noting {that a} buying and selling agency had been concerned. “What I did was incorrect and I wish to apologize for my conduct.” Kwon had repeatedly and publicly cheered on UST, criticizing detractors or anyone who questioned the token’s stability. “Have enjoyable staying poor,” he tweeted at one person on X in 2021. Simply over a dozen folks sat within the gallery forward of the listening to, with greater than half of that group consisting of reporters. All through the listening to, the choose requested plenty of procedural questions to determine that Kwon was competent to plead responsible, operating briefly by means of his medical historical past and checking at a number of factors that Kwon had learn the filings he was agreeing to and mentioned them together with his authorized workforce. Kwon can be sentenced on Dec. 11 at 11:00 a.m. in Manhattan. By the point of his sentencing, he may have been in U.S. custody for nearly a 12 months. Kwon has been within the U.S. since New Yr’s, following a prolonged extradition course of with the federal government of Montenegro. He and Terraform Labs had already been discovered answerable for civil fraud by a jury in a case introduced by the U.S. Securities and Alternate Fee, following UST’s collapse. UPDATE (August 12, 2025, 16:42 UTC): Provides particulars from the listening to. Powered by WPeMatico

Web Laptop Protocol (ICP) endured a risky 24 hours of buying and selling, swinging between $5.29 and $5.63, a 5% intraday vary that highlighted each promoting strain and opportunistic accumulation, CoinDesk Analysis’s technical evaluation knowledge mannequin reveals. The token fell as low as $5.29, establishing a key support zone between $5.32 and $5.35, the place market knowledge reveals notable spikes in quantity, a sample typically related to institutional entry factors. After bottoming out, ICP staged a decisive reversal starting round 12:00 UTC, when buying and selling quantity surged to 976,480 models, almost double the every day common. This push propelled costs from $5.37 to $5.52, reclaiming technical floor misplaced earlier within the session. Nonetheless, resistance close to $5.63 capped upside momentum. ICP briefly dipped again to $5.43 early within the U.S. morning as sellers re-emerged, breaking minor help at $5.48 earlier than consumers managed to carry the $5.44 space. Technical Evaluation Vary: $5.29–$5.63 over the 23-hour interval, a 5% unfold. Help Zone: $5.32–$5.35 confirmed repeated shopping for curiosity. Resistance: $5.63 capped upside makes an attempt. Quantity Spike: 976,480 models traded at 12:00 UTC, almost double the every day common. Breakdown Level: Lack of $5.48 help triggered a quick late-session dip. Restoration Section: $5.37 to $5.52 surge on excessive quantity marked institutional shopping for. Late Promoting: Dip from $5.45 to $5.43 as resistance held. Disclaimer: Components of this text had been generated with the help from AI instruments and reviewed by our editorial staff to make sure accuracy and adherence to our standards. For extra info, see CoinDesk’s full AI Policy. Powered by WPeMatico

BONK fell practically 6% within the final 24 hours, dropping from $0.00002606 to $0.00002436 in a move that carved out a $0.0000028 range, roughly 10% of its buying and selling spectrum. The decline accelerated after the token failed to carry positive aspects close to $0.000027 on Aug. 11, the place quantity spiked to 1.13 trillion tokens, effectively above the 24-hour common of 708 billion, in keeping with CoinDesk Analysis’s technical evaluation information mannequin. Promoting strain persevered into the morning of August 12, with BONK discovering agency assist round $0.000024 at 10:00 UTC on 889 billion tokens traded. BONK did see a bounce initially of U.S. morning, when consumers stepped in and pushed the value up 3% to $0.000025. The rebound signaled potential short-term stabilization after the prolonged drawdown, forming $0.000024 as a key assist to avoiding additional draw back. The volatility comes the day after Nasdaq-listed Safety Shot disclosed a $25 million corporate treasury purchase linked to BONK ecosystem improvement by means of its stake within the Bonk.enjoyable launchpad — a transfer considered by some analysts as an indication of accelerating mainstream publicity for the meme coin sector. Technical Evaluation Buying and selling Vary: $0.00002398–$0.00002674, a ten% unfold over 24 hours. Resistance: A number of rejections close to $0.000027 on August 11 with excessive quantity. Assist: Robust base close to $0.000024 on August 12 with 889B tokens traded. Quantity Spike: 145B tokens throughout breakout from consolidation at 12:30 UTC. Restoration Transfer: 3% achieve from $0.000024 to $0.000025 between 11:49–12:48 UTC. Breakout Set off: Value cleared $0.000025 resistance at 12:22 UTC. Market Context: Bounce follows a number of days of heightened volatility in memecoins. Disclaimer: Elements of this text have been generated with the help from AI instruments and reviewed by our editorial crew to make sure accuracy and adherence to our standards. For extra data, see CoinDesk’s full AI Policy. Powered by WPeMatico

The worth of BNB climbed greater than 1.5% within the final 24 hours, managing to beat weak spot throughout the session to maneuver above the $810 mark, up from a low that check its $800 assist degree. The cryptocurrency is now focusing on the resistance degree at $815 after patrons helped push its value additional upward via a number of smaller resistance factors, in response to CoinDesk Analysis’s technical evaluation mannequin. Ongoing company adoption, with CEA Industries not too long ago changing into the largest corporate holder of BNB after a $160 million buy. A number of different corporations, together with Nano Labs and Windtree Therapeutics, are additionally shifting to ascertain BNB treasuries. Technical Evaluation Overview BNB’s buying and selling over the previous 24 hours confirmed the type of disciplined value motion usually related to institutional accumulation.The token traded inside a $22.41 vary, from a low of $792.47 to a excessive of $814.88, with patrons stepping in repeatedly on the $800–$803 degree. These assist retests drew constant quantity, suggesting a readiness to defend the zone. Resistance first emerged close to $811.71, then once more within the $814–$815 space, the place algorithmic promoting applications added stress. The turning level got here as BNB constructed a sequence of upper lows, $800.44, $801.20, $802.47 and $804.08, steadily absorbing promote orders. This sequence was adopted by the elimination of key resistance obstacles at $803.50, $807.20 and $809.50, a sample market technicians view as an indication of sustained shopping for curiosity. A surge in quantity on the $800.44 assist degree sparked a decisive push increased, with a breakout above $804 then occurring. That rally carried the token to intraday highs close to $810.57 earlier than settling just under the $815 resistance zone,a degree that now stands as the following check for bullish momentum. Disclaimer: Elements of this text had been generated with the help from AI instruments and reviewed by our editorial staff to make sure accuracy and adherence to our standards. For extra info, see CoinDesk’s full AI Policy. Powered by WPeMatico

Over the previous 5 days, bitcoin (BTC) has surged from $116,000 to simply above $122,000 earlier than retreating to the present $119,000. Regardless of this value motion, profit-taking has remained muted, averaging underneath $750 million per day on a year-to-date foundation. For perspective, Glassnode knowledge exhibits that in January day by day realized income had been round $2 billion, with comparable spikes in July when bitcoin reached its all-time excessive of $123,000. Glassnode’s Realized Revenue metric measures the overall revenue from all spent cash the place the sale value exceeded the acquisition value. When damaged down by Lengthy-Time period Holders (LTH) and Quick-Time period Holders (STH), it affords a extra granular view of market habits. This classification is predicated on the weighted common acquisition date, with LTH provide outlined as holdings aged greater than roughly 155 days. The information reveals that LTHs have constantly realized much more revenue than STHs. An exception occurred in July, when STH realized income spiked as bitcoin hit its all-time excessive. Many of those short-term beneficial properties doubtless got here from buyers who purchased in the course of the March “tariff tantrum” sell-off, when bitcoin fell to $76,000. The present low degree of realized profit-taking, significantly in contrast with prior market peaks, is encouraging for bitcoin’s bullish outlook. It means that holders, each lengthy and brief time period, are largely refraining from locking in beneficial properties regardless of current value will increase. If this pattern persists, it might present the market with the soundness and momentum wanted to push towards new all-time highs. Powered by WPeMatico

President Donald Trump’s crypto adviser, Bo Hines, exited after solely months on the job, and the subsequent in line — his deputy, Patrick Witt — will apparently be shepherding the {industry}’s political priorities in Washington because it nonetheless seeks industry-wide rules and the establishment of a federal crypto stockpile. Witt shares a remarkably related historical past with Hines – each ex-football stars who performed at Yale earlier than searching for regulation levels and falling brief in bids for Congress. Witt had a brief stint as a free-agent quarterback for the New Orleans Saints after main the Yale Bulldogs staff that Hines later performed on as broad receiver. Each ex-athletes tied their political careers intently to Trump lately, and Witt will now be the chief {industry} liaison for Trump’s White Home, according to his social-media profile on X that references the title Hines left behind. As government director of the President’s Council of Advisers on Digital Property, Witt ascends to the position with out a important crypto background, although Hines additionally occupied the position with out a deep digital belongings previous. “We have had the pleasure of working with Patrick all year long and sit up for him persevering with to implement insurance policies that may make the US this international hub of crypto innovation and improvement,” mentioned Miller Whitehouse-Levine, CEO of the Solana Coverage Institute, in an announcement. When Witt helped introduce Trump at a rally in 2022, he informed the group that “authorities, too typically, is the issue.” However the graduate of Harvard Legislation Faculty spent a while serving on the federal degree and describes himself as a “public servant” on his LinkedIn account. Witt has a number of of the widespread resume staples of D.C. careers: Three years at McKinsey & Co., and previous stints on the Workplace of Personnel Administration within the first Trump presidency and a while on the Division of Protection. However in his dwelling state of Georgia, his political profession hadn’t but discovered momentum, with a failed bid to be the state’s insurance coverage commissioner (below a promise to “keep your insurance from going woke“) and a quick effort to run for Congress. Although his predecessor on the White Home not too long ago celebrated the numerous win of the primary U.S. crypto laws to ascertain a regulation governing stablecoins, Hines left a serious to-do checklist. When Congress returns from its summer season break, Witt should get a deal with on progress towards a Senate model of the Home-passed Digital Asset Market Readability Act. Hines had additionally been closely monitoring developments within the formation of what the administration calls its Bitcoin Strategic Reserve — a mission the {industry} has been desperate to see progress on since an order from Trump earlier this year began work on it “I really like this neighborhood and all we’ve constructed collectively,” Hines mentioned in a farewell posting on X, stunning the {industry} by leaving after lower than a yr on the job. “As I return to the personal sector, I sit up for persevering with my help for the crypto ecosystem because it thrives right here in the US.” Witt re-posted that sentiment however hasn’t but made his personal agenda clear. The White Home did not instantly reply to a request for touch upon his promotion. Trump’s most senior crypto coverage chief, David Sacks, stays in his place. Learn Extra: Why Doesn’t the U.S. Have a Bitcoin Reserve, Yet? Powered by WPeMatico