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NAKA Raises $200M, Sinks 11%
Crypto Trends

NAKA Raises $200M, Sinks 11%

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KindlyMD (NAKA), the Nasdaq-listed firm that’s recently merged with bitcoin

treasury firm Nakamoto closed a $200 million convertible note offering late Friday.

The convertible notes bear no interest in the first two year, then they carry a 6% annual rate starting in year three until maturity in 2028. The firm intends to use the funds to buy additional bitcoin.

The financing, arranged with Yorkville Advisors’ YA II PN fund, was structured with some unusual terms, CoinDesk senior analyst James Van Straten noted.

Yorkville can convert the debt into equity at an initial price of $2.80 per share, raising concerns of dilution if the lender opts to convert into stock. Nakamoto/KindlyMD also needs to put up twice the size of the principal in BTC as collateral, offering the lender a robust downside protection.

NAKA shares were lower by 11.2% on Monday alongside news of the convertible capital raise and a weekend decline in the price of bitcoin. Other bitcoin treasury strategies were in the red as well, but the declines were more muted. Strategy (MSTR) and Semler Scientific (SMLR), for instance, were each down a bit more than 1%.

Read more: Michael Saylor’s Strategy Added $51M of Bitcoin Last Week



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EA pave over Battlefield 2042's bullet casing-filled potholes with a "road to Battlefield 6"
Game Updates

EA pave over Battlefield 2042’s bullet casing-filled potholes with a “road to Battlefield 6”

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The Battlefield 6 open beta is over. I’m sure everyone let out a final burst of fire that sounded equally triumphant and tragic at its conclusion. But wait, say EA, FPS lovers, where do you all think you’re going?

It’s at this point the publishers whip out Battlefield 2042, the much-maligned at release previous entry in the series, like they’re yanking a rabbit out of a marine’s helmet. He’s not Battlefield 2042 anymore, they say, he’s the “road to Battlefield 6”. A road one can only assume is littered with IEDs and checkpoints where five people are standing around looking mean.

This boulevard to blast central is update 9.2, and it’s chunky enough that I’d class it as a full-on repaint the road markings affair. Classic map Iwo Jima makes its 2042 debut, with “boat landings, bunkers, and trenches on a reimagined 700×200 map”. Oh, and an active volcano in case you want to renounce your warlike ways and take up volcanology.

Weapon-wise, there are two new guns – the KFS2000 assault rifle and the Lynx sniper rifle. Only the former’s being dished out to everyone, with the Lynx only being given to folks who played the Battlefield 6 beta to start with. EA insist anyone who didn’t hop into the beta will get a chance to grab it “later down the line”. Meanwhile, two new attack jets, the A10 Warthog and SU-25TM Frogfoot, have been added in. EA say they come with some revamped abilities and are designed to be “vehicle busters”.

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That sounds a bit rough for folks down below, trundling along the “road to Battlefield 6” in tanks or jeeps. Anyway, I’ll drop the metaphor. The “road to Battlefield 6” is actually a 60-tiered free battle pass featuring a bunch of gear inspired by the series’ history. It includes some stuff to unlock for Battlefield 6 itself and will run from August 18th to October 7th.

If you want a reminder of what Battlefield 2042 was like when it first debuted, here’s Ed’s review. It’s also evolved a fair bit since then, so a run through our 2042 news archives is probably a good shout if you want cluing up on some of the changes EA have made over the years.



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Game Reviews

Steam Review Scores Are Changing Amid Endless Review-Bombing

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Valve is overhauling how Steam reviews are displayed in a new update, it announced on Monday. The percentage score usually assigned to games based on the number of positive and negative user reviews will now exclude reviews written in other languages. The change comes as Steam becomes an increasingly popular global PC storefront and routine review-bombing from players in specific regions can torpedo a game’s rating for everyone on the platform.

“Steam’s growth since then into an even larger global presence means customers in different regions of the world may have vastly different experiences from each other for the same game,” Valve explained in a new blog post. “There are a variety of reasons this may happen for a particular game, including translation issues, cultural references, poor network connections, and many others; things that the Overall Review Scores haven’t been able to capture until now. Calculating a language-specific review score means that we can better distill the sentiment of these different groups of customers, and in doing so, better serve potential customers that belong to those groups.”

Not every game will be impacted by the changes. Valve said it will only start calculating “language-specific review scores” for games with at least 2,000 total publicly visible user reviews, and at least 200 written in a particular language. Players can now click through the review score section of a game’s Steam store page to get a breakdown of the scores across different languages. While this will now be the default mode for review scores on Steam, everyone will still have the option to toggle back to the old system.

“We realize that whenever we make changes to User Reviews, we’re inviting some scrutiny into our motivations for making those changes,” Valve wrote. “Maintaining trust in the system is crucial to us, so we’ve erred on the side of being as transparent as possible.”

The move comes just days after one of Steam’s bigger releases of the season, Wuchang: Fallen Feathers, implemented controversial changes to the game following apparent pushback from some Chinese fans over historical references in the fictional Soulslike. While it’s unclear if that game factored into this new policy at all, games on Steam increasingly get review-bombed for all sorts of reasons that don’t always necessarily have to do with the underlying functionality or experience, from allegations of using generative AI to complaints of terms of service requirements in places like Europe.

Data from Simon Carless’ Game Discover newsletter earlier this year showed that a plurality of Steam users in 2024 had “simplified Chinese” as their primary language on the platform, followed narrowly by English in second place. Over the summer, Helldivers 2 was briefly review-bombed after an apparent translation error led Chinese players to feel cheated by one of the game’s weekly mission objectives. The latest changes to review scores seem like an attempt by Valve to keep those two audiences separate, at least when it comes to rating new games.



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NFT Gaming

Ethereum Treasury Aims to Foil Short Sellers With ‘Loyalty Payment’ as Shares Trade at Discount to Holdings

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In brief

  • BTCS is paying investors a “loyalty payment” to make shares illiquid.
  • The company’s shares are trading below the value of its crypto holdings.
  • BTCS CEO Charles Allen said short sellers are targeting the firm.

Ethereum treasury firm BTCS has offered investors a one-time payment for making their shares illiquid on Monday, saying that it would help them foil Wall Street short sellers.

Those who hold BTCS shares with the company’s transfer agent will receive a “loyalty payment” of $0.35 per share in January, the company said in a press release, while unveiling a $0.05 dividend that will be payable in Ethereum in September as well.

BTCS shares rose nearly 9% to $4.81 on Monday, according to Yahoo Finance. Shares have cooled from a three-year high of $8.49 last month but are still up 83.4% year-to-date.



BTCS’ shares trade at a discount relative to its crypto holdings. Although the company held 70,000 ETH worth $303 million on Monday, its market cap stood around $215 million, yielding a so-called mNAV of 0.75, the lowest among firms tracked by Strategic Ethereum Reserve.

Experts say that discounts can spell danger for crypto treasury firms, constraining their ability to raise funds in a way that would increase the amount of crypto they own per share.

BTCS CEO Charles Allen told Decrypt on Monday that the discount stems from hedge funds betting on a drop in BTCS’ stock price, as opposed to a lack of investor confidence in BTCS or its $100 million Ethereum-buying plan unveiled last month.

“People are betting against us,” he said. “If 90% of our shares are held by retail shareholders in four brokerage firms, and those brokerage firms pull all the shares together and loan them out to the short sellers, [then] we have a major problem.”

BTCS’ short interest represented 7.4% of the company’s float, according to Fintel. That was relatively higher than Ethereum treasury firms BitMine Immersion Technologies and SharpLink Gaming, totaling 4% and 6.5% on Monday, respectively. 

Allen’s call for investors to move shares to “book entry” with the company’s transfer agent is reminiscent of a scheme devised by GameStop’s community, in which the meme stock’s devotees organized to directly register shares with Computershare.

By registering shares with the company’s transfer agent, investors can effectively restrict how those securities are used. Platforms like Robinhood and Charles Schwab typically allow customers to opt out of stock lending programs, albeit to varying degrees of difficulty.

As BTCS shareholders tap the company’s transfer agent, the hope is that “shares available to borrow are going to get squeezed out,” making it more costly to short the stock, Allen added

BTCS uses an Equity Stock Transfer agent as its record keeper, and Allen acknowledged that there may be drawbacks for certain investors because they can’t readily sell their shares. Processing a transfer may take three to five business days.

Allen noted that BTCS, established in 2013, runs Ethereum validators and a block-building business, in addition to its Ethereum treasury strategy. The company has also leveraged decentralized finance protocols, such as AAVE, to raise capital, he added.

BTCS shareholders have to fill out a form on the company’s website and provide a digital wallet address in order to receive the dividend, dubbed a “Bividend,” in the form of Ethereum. If shareholders take no action, they will receive $0.05 per share through traditional means.

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Circle’s Arc to Launch with Fireblocks Integration as Stablecoin Race Intensifies
Crypto Trends

Circle’s Arc to Launch with Fireblocks Integration as Stablecoin Race Intensifies

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Circle’s new layer-1 blockchain Arc will integrate with Fireblocks, a New York–based digital asset custody and tokenization platform serving more than 2,400 banks, asset managers and fintechs. Arc is not yet live, but Circle plans to roll out a public testnet this fall ahead of a full launch by year-end.

Fireblocks said it prepares custody and compliance support so clients can transact on Arc once the network launches. Its platform supports over 120 blockchains and facilitates settlement for institutions across global markets.

Source: Fireblocks

The unusually early integration drew some criticism on X. Solana, for example, launched in 2020, but wasn’t added to Fireblocks until late 2021, after its ecosystem reached critical mass. Arc will instead debut with Fireblocks integration, giving banks and asset managers “day one” access.

Related: Stablecoins will soon have their ‘iPhone moment,’ Circle CEO

Moving along with US stablecoin regulations 

While US regulators advanced clarity around stablecoins with the GENIUS Act signed on July 18, Circle has been expanding its footprint.

On June 5, Circle raised $1.05 billion in the first IPO by a stablecoin issuer. Shares opened at $69, climbed as high as $103.75, and closed at $83.23 — a gain of 168% from the IPO price. The stock reached as high as $298.99 on July 23, and is currently trading around $145.

The company’s first earnings report since going public was released on Tuesday, reporting $658 million in Q2 revenue, a 53% increase year-over-year. It said circulation of USDC grew 90% over the same period, reaching $61.3 billion by June 30 and climbing above $65 billion in early August.

That same day, Circle moved to expand its payments infrastructure with the launch of the Circle Payments Network, and announced Arc — describing it as a layer 1 purpose-built chain for “stablecoin finance.”

While Circle was ahead of the curve with its IPO, the Arc announcement comes amid a broader wave of new blockchain launches, including Stripe developing Tempo with Paradigm and Robinhood rolling out a tokenization-focused L2 in June.

Related: USDC stablecoin launches on XRP Ledger

Stablecoin rivals drive market growth

The stablecoin market cap now stands at roughly $277.16 billion, up from $253.87 billion on July 1, according to data from DefiLlama. While Circle’s USDC accounts for about a quarter of the fiat-backed stablecoin market, Tether continues to dominate globally with around 60% market share.

Tether reported $4.9 billion in profit in Q2 2025, a 277% increase compared with the same period a year earlier. Most of that profit came from Treasury yields, with the company’s $127 billion short-term US debt generating steady income. 

Tether has now become one of the largest non-sovereign holders of US Treasurys, surpassing countries such as South Korea and the UAE, an unprecedented position for a private company.

Magazine: Bitcoin vs stablecoins showdown looms as GENIUS Act nears



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Israeli Cyber Official Arrested During Undercover Internet Crimes Against Children Sting
Gaming Gear

Israeli Cyber Official Arrested During Undercover Internet Crimes Against Children Sting

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A high-ranking member of Israel’s cybersecurity directorate was recently arrested in Las Vegas as part of an undercover sting operation involving internet crimes against children, according to the State Department.

A joint operation between city police and the FBI that targeted child sex predators resulted in the arrest of Tom Artiom Alexandrovich, a man who, according to many news outlets, has been identified as a member of Israel’s National Cyber Directorate, which operates out of Israeli Prime Minister Benjamin Netanyahu’s office.

Mediate previously reported that Alexandrovich’s since-deleted LinkedIn profile had also identified him as an official with the agency. The Jerusalem Post claims that Alexandrovich worked “in a technical role at the Cyber Directorate,” and KLAS-TV, a CBS news affiliate, also claims to have confirmed that an “Israeli government official was one of eight people arrested” during the weekend sting, and that Alexandrovich was in the city for “a cyber event.” Blackhat, the well-known cybersecurity conference, recently took place in Vegas.

Additionally, the U.S. government appears to have confirmed much of this information. The X account for the State Department’s Bureau of Near Eastern Affairs posted about the arrest, in an apparent effort to dispel internet rumors that the government had intervened on Alexandrovich’s behalf. “The Department of State is aware that Tom Artiom Alexandrovich, an Israeli citizen, was arrested in Las Vegas and given a court date for charges related to soliciting sex electronically from a minor,” the post states. “He did not claim diplomatic immunity and was released by a state judge pending a court date. Any claims that the U.S. government intervened are false.” When reached for comment by Gizmodo, the State Department simply referred us to its tweet.

Alexandrovich faces a charge of luring a child with a computer for sex acts, KLAS writes. He was allowed to leave after having posted a $10,000 bail, the outlet adds, citing court records.

An archived Haaretz report states that a “senior official in Israel’s National Cyber Directorate” had been questioned in Vegas for alleged online solicitation of a minor, but does not identify the official by name. However, the report also includes a statement from Israel’s cyber directorate, which admits that one of its employees was questioned by authorities during a trip to the U.S. The statement reads: “The employee updated the directorate that during his trip to the United States, he was questioned by U.S. authorities on matters unrelated to his work, and he returned to Israel on his scheduled date. The directorate has not yet received additional details through official channels. If and when such details are received, the directorate will act accordingly.”

Gizmodo reached out to the Las Vegas Police Department and the Israeli government for more information.



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ishowspeed-south-america-tour-stream
Esports

IShowSpeed reveals 35 day tour around USA: Every stop

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YouTube star IShowSpeed is taking his livestream on the road again, and announced a nonstop 24/7 tour across the United States that will run for 35 days.

The 19-year-old YouTube streamer, whose real name is Darren Watkins Jr., has built a massive audience with his high-energy streams and international tours.

He previously broadcasted his travels across Europe, Asia, and South America, drawing millions of live viewers as he visited landmarks, tried local food, and met fans worldwide.

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Now, Speed says he will turn his attention to the US, bringing the same format to cities across the country in a month-long livestream marathon.

All the states IShowSpeed will visit

The 35-day tour will be streamed entirely on his YouTube channel starting August 28, 2025, at 12 pm EST, with Speed promising unfiltered coverage of his travels across all 24 hours of each day.

IShowSpeed’s exact stops within each state are unknown, as well as what order he will visit each one. However, here are all the states the YouTuber says he’s going to visit during the marathon stream:

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  • Arizona
  • California
  • Colorado
  • District of Columbia
  • Florida
  • Georgia
  • Idaho
  • Illinois
  • Kansas
  • Kentucky
  • Louisana
  • Massachusetts
  • Michigan
  • North Carolina
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oregon
  • Pennsylvania
  • South Dakota
  • Tennessee
  • Texas
  • Washington
  • Wyoming

Shortly after the announcement went live, MrBeast invited Speed to his facility in North Carolina, saying he’ll have “something fun” for the YouTuber.

When you get to North Carolina I’ll have something fun for you 😉

— MrBeast (@MrBeast) August 18, 2025

He has not yet announced the exact starting city or schedule, but the tour is set to begin soon and will mark his longest continuous livestream project to date.





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XRP price approaching critical support: a technical analysis deep dive
GameFi Guides

XRP price setting the stage for another bullish rally as $2.80 support holds

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XRP price is maintaining its potential for another leg higher toward $3.60 and possibly $4.19, supported by a robust market structure and rising demand.

Summary

  • $2.80 remains the critical high timeframe support, aligned with the value area high.
  • Bullish market structure holds with higher highs and higher lows intact.
  • Strong bull volume inflows sustain momentum and point to further upside.

XRP has corrected into the $2.80 high-timeframe support zone, a critical level that has repeatedly acted as a strong demand base. Despite this retrace, the bullish structure remains intact with higher lows and strong volume inflows.

Key technical points

  • $2.80 High-Timeframe Support: Confluence of value area high and prior retests, confirming strong structural demand.
  • Bullish Structure Intact: Higher highs and higher lows remain in place despite intraday corrections.
  • Volume Profile Strength: Sustained buy-side inflows support the probability of a continued rally.

XRPUSDT (1D) Chart, Source: TradingView

XRP’s price action has retraced into the $2.80 support, a region that has been tested multiple times and continues to act as a foundation for bullish momentum. This level is aligned with the value area high, a region where volume has consistently built, signaling strong demand. Holding above this level is critical for XRP to preserve its bullish momentum and sustain its broader uptrend.

From a market structure perspective, XRP remains intact with consecutive higher highs and higher lows. The pullback to $2.80 has not damaged the larger trend, but rather reinforces it as a healthy retest. These retests of major supports confirm the presence of buyers and strengthen the probability of upward continuation. A strong defense of this zone will likely set up XRP for a fresh rally back toward its all-time high of $3.60.

In addition to structural integrity, Fibonacci levels add another layer of confluence. The $2.80 region coincides with the 0.618 retracement zone, a level often associated with strong bullish reversals. Historically, XRP has reacted positively at this level during bullish trends, increasing the likelihood of another expansion higher if bulls hold the line.

The volume profile further strengthens the bullish case. Data shows a steady influx of buy-side pressure, indicating market demand is still strong even during corrective phases. Such volume dynamics often precede larger impulsive moves, as accumulation periods resolve with expansions higher. A break back above $3.60, backed by strong volume, could accelerate XRP toward the $4.19 Fibonacci extension target.

What to expect in the coming price action

XRP remains bullish as long as the $2.80 support continues to hold. Multiple retests are healthy and signal demand. With strong volume inflows, XRP is well-positioned for a rally back toward $3.60 and potentially $4.19.



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Helene Braun
NFT Gaming

Circle (CRCL) Acquires Malachite to Power Its Upcoming Blockchain Arc

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Stablecoin issuer Circle (CRCL) has acquired Malachite, the consensus engine that is set to underpin payments-focused blockchain Arc, from software development firm Informal Systems, according to a Monday press release.

Several people from Informal Systems will join Circle as part of the acquisition. The firms didn’t reveal details about pricing.

The deal comes as Circle, the company behind the $65 billion USDC (USDC) token, announced last week it’s building its own layer-1 blockchain designed for stablecoin finances, a recent trend among asset issuers aiming to capitalize on the booming sector. Stablecoins, a set of cryptocurrencies with prices tied to an external asset like the U.S. dollar, are projected to become a trillion dollar market and disrupt cross-border payments.

Malachite was built around the Tendermint consensus algorithm and was designed for flexibility and correctness in decentralized systems. Informal Systems developed it as a reusable foundation for blockchain infrastructure, with a focus on performance and security.

Malachite will remain open source under the Apache 2.0 license, leaving developers free to use and extend the technology, the press release said. Informal will continue supporting other use cases for Malachite and advance its other projects, including tools for distributed systems and cross-chain infrastructure.

Read more: Why Circle and Stripe (And Many Others) Are Launching Their Own Blockchains



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Bitcoin Price At $115K: Support Or Breakdown Ahead?
Crypto Trends

Bitcoin Price at $115K: Support or Breakdown Ahead?

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Bitcoin (BTC) fell below $115,000 on Monday, August 18, 2025, confirming a decisive break from a two-month-long bull run. The price decline was a 7.6% drop from its new All-Time High (ATH) of $124,501 set just four days prior. The drop was triggered by a breakdown from a key technical pattern known as a rising wedge, which had supported the asset’s price since mid-June.

Bitcoin started its rally in April this year with a series of higher lows in mid May and June, as well as in early August. The rally was strong enough to hit a new ATH. However, sellers finally overwhelmed buyers, pushing the price down even as bulls are fighting to protect important levels of support. 

On-chain data and technicals point to the potential of a mixed short- to medium-term view for bitcoin price. Let’s evaluate the data to determine the potential trend of this digital asset.

Daily Active Addresses Record A Steep Drop

The active number of the addresses signifies the number of active wallet addresses of an asset. Over here, Bitcoin has been ranging between 700,000 and 1.2 million in the course of seven months. Although BTC continued to hit new highs, active participation has not always been on the rise, suggesting that the retail presence is not keeping up with the price action.

At the time of writing, according to data from CryptoQuant, the active address count peaked at 994,288 on August 14 but has since fallen by over 160,000 in just four trading sessions. 

Bitcoin Short-term Holders Offloading At A Loss

The Short Term Holders (STH) of Bitcoin have now begun to enter into the stage of loss realization that the market has not seen since January 2025, when the crypto sector underwent its worst correction of this cycle. In the period since, STHs had generally been selling at a profit as BTC trended up in the six-figure territory.

However, the most recent STH-SOPR has declined below 1, indicating that the most recent transactions are being executed at a loss. This can work both ways historically, as an extended period of selling can be representative of decaying momentum and the onset of a correction. Notably, brief pullbacks are sometimes healthy re-sets, eliminating lagging hands before the next higher leg occurs.

Bitcoin On Crossroads

The bitcoin chart given below highlights a rising wedge pattern in the daily time frame, a formation that typically signals weakening momentum despite higher highs and higher lows. Bitcoin is now trading within converging upward trendlines, showing that the buying pressure is slowing as price nears resistance. After reaching its all-time high around $124,000, BTC price faced rejection and is currently retesting the $115,000 support zone.

On the day of hitting ATH, a reversal began last week when a powerful “Bearish Engulfing” candle appeared. This signal, where a single day of selling completely erases the prior day’s gains, served as warning that buying pressure has been exhausted.

Following the Bearish engulfing candle, for the next two days, consequent ‘dojis’ were seen, where there is no significant price movement in either direction. Hence bitcoin now stands at a crossroad where bulls are unexpectedly startled by bears, evident by panic selling by STH holders, as per the on chain data.

The Bollinger Band (BB) is a key technical indicator as it is used to present an important area or to confirm the trend. Possible stabilization of the crypto market at this level might result in a potential reversal trend toward the $121,000 which is the upper trendline of the bollinger band, in this situation a major resistance.

The Relative Strength Index (RSI) indicator which is used to determine a trend pattern has plunged from near overbought, indicating a rapid shift in selling pressure. With it still standing in the middle at 45, a classic bearish divergence has formed. While the price set a higher high in August compared to July, the RSI set a lower high.

This suggests that the momentum behind the rally was fading significantly, often foreshadowing a price correction.

What’s Next For Bitcoin?

Considering the present market sentiment, the “make-or-break” level for Bitcoin price is in the range between $115,000 and $116,000.

  • A successful defense of the $115,000 support may be followed by a push toward the upper target levels of $121,000 or its previous ATH of $124,000.
  • Conversely, a breakdown below $115,000 would likely trigger a decline toward $110,000. In an extreme bearish scenario, the BTC price could go as low as $105,000.

Also Read: Bhutan Moves $92M in Bitcoin Amid Exchange Speculation 

Disclaimer: The Crypto Times does not endorse or promote this digital asset in any manner. This article was created only for educational purposes. Make sure to “DYOR” as the market is highly volatile. New positions should be done by traders being careful and awaiting volume-backed breakouts.



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