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Investors Shift $900M Daily from Bitcoin to Ethereum: Analyst

by admin August 27, 2025

Analyst Willy Woo, a renowned crypto on-chain analyst, said investors are shifting funds from Bitcoin (BTC) to Ethereum (ETH). On Wednesday, he posted a chart showing flows into Ether around $900 million per day, matching inflows into Bitcoin.

“This latest climb in flows started when Tom Lee’s ETH treasury company, BitMine, began accumulating Ether,” Woo said in a post on X. The surge began in July, marking the highest flows in at least two years. Analysts say corporate Ether treasuries are driving the momentum.

Capital has been rotating from BTC→ETH.

Flows into ETH, at 0.9B USD per day (silver), is now approaching BTC’s inflows (orange).

This latest climb in flows started when Tom Lee’s ETH treasury co, BitMine, started their ETH accumulation. pic.twitter.com/ZLTCSosxXX

— Willy Woo (@woonomic) August 26, 2025

Corporate Demand Boosts ETH

BitMine has become the world’s largest corporate Ether treasury. It acquired 1.7 million ETH, worth $7.9 billion, in just over two months, and now holds 1.4% of Ethereum’s total supply. The accumulation pace far exceeds that of corporate Bitcoin holdings.

U.S. spot Ethereum exchange-traded funds have also seen strong inflows. August alone recorded $2.8 billion entering spot ETH funds. Corporate trading in Ether also recently exceeded Bitcoin treasury trading, showing rising institutional interest.

Analyst Axel Bitblaze noted on X that ETH has broken a four-year bullish chart pattern and is retesting it cleanly. “The structure points to $6800 – $7000 next,” he said, indicating further upside potential.

ETH Market Share Rising

Ethereum’s market dominance has grown at Bitcoin’s expense. ETH’s market share is now 14.57%, up from a low of 7% in April. Meanwhile, Bitcoin dominance has fallen from 66% in June to 58% as capital rotates between the two assets.

Ether has recovered faster than Bitcoin this week. ETH rose 4% on Wednesday, reaching an intraday high of $4,638 before a slight pullback. It is now just 6.7% below its all-time high from last week. Bitcoin, in comparison, gained only 1% over the same period, topping $112,000 before retreating toward $111,000.

The capital rotation into Ethereum shows increasing investor confidence and stronger institutional involvement. Analysts say the trend may continue as corporate and ETF demand supports ETH prices and market share.

Also Read: ETH Price Drop is Opportunity in Treasury Firms: Standard Chartered

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August 27, 2025 0 comments

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$68,753,451 XRP Stun Largest Korean Exchange as Price Drops, Here’s What Really Happened

by admin August 27, 2025

23,000,000 XRP on move
Here’s what really happened at Upbit

Prominent blockchain sleuth Whale Alert, which tracks large cryptocurrency transactions, has identified a massive XRP transfer worth tens of millions of XRP. The transfer was made from the largest cryptocurrency trading platform in South Korea, Upbit.

However, additional details revealed by another on-chain tracker have shed light on the nature of this transaction.

Meanwhile, the coin’s price has slipped over the past 24 hours, unable to stay above $3.08.

23,000,000 XRP on move

The aforementioned data source published a tweet, spotting 23,000,000 XRP being moved from the biggest crypto exchange in South Korea, Upbit, to a wallet tagged as anonymous. The transfer took place approximately four hours ago.

The fiat equivalent of this sum in crypto constitutes $68,753,451. The crypto community immediately began sharing their opinions, mostly suspecting a large whale making a big XRP purchase on the dip, as the price has gone down to $3.

Here’s what really happened at Upbit

Details revealed by XRPscan show that while the Upbit exchange indeed made the initial transaction, the receiving anonymous wallet immediately transferred the 23,000,000 it received to three crypto wallets.

Those wallets also belong to Upbit, which basically makes this transaction an internal diversification XRP transfer.

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August 27, 2025 0 comments

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Bo Hines Confident Bitcoin Reserve Act Heads For 2025 Approval

by admin August 27, 2025

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Bo Hines, the former White House crypto director who helped shepherd the administration’s first landmark crypto law, the GENIUS Act, has moved to Tether as Strategy Advisor for Digital Assets and US Expansion—and he’s signaling that a second pillar of the policy agenda, a federal Strategic Bitcoin Reserve law, is on track before year-end.

Bitcoin Reserve Act Could Pass ‘This Year’

In a new on-camera conversation with CoinDesk’s Sam Ewen alongside Tether CEO Paolo Ardoino, Hines said he remains “very confident that the US government is going to be keenly interested on moving expeditiously on budget-neutral ways to accumulate,” adding that President Trump “has been a steadfast leader in the space… This is a major priority for him. And that includes the SBR.” He went further: “You’ll have two monumental pieces of crypto legislation signed into law this year, firmly cementing the United States’ place as the crypto capital of the world.”

JUST IN: FORMER WHITE HOUSE CRYPTO DIRECTOR BO HINES IS CONFIDENT THE #BITCOIN RESERVE ACT WILL BE SIGNED INTO LAW “THIS YEAR”

2025 WILL BE A HISTORIC YEAR FOR BTC 🔥 pic.twitter.com/CQHtHhwZa2

— The Bitcoin Historian (@pete_rizzo_) August 26, 2025

Hines’ remarks come just a week after his exit from government and his appointment at Tether. As head of the White House’s crypto policy shop, Hines was closely involved in the legislative push that culminated on July 18, 2025, when President Trump signed the GENIUS Act into law, creating the first comprehensive federal framework for US dollar-pegged payment stablecoins. The law’s passage set the stage for a broader market-structure package and gave new momentum to efforts to formalize a Strategic Bitcoin Reserve (SBR) in statute.

Although an executive order on March 6, 2025 already established a federal SBR and a separate US Digital Asset Stockpile for non-bitcoin holdings, the so-called Bitcoin Reserve Act—formally introduced in Congress as the BITCOIN Act—would codify and expand that framework.

The White House directive seeded the SBR with coins already owned by the government via forfeiture and barred selling those holdings, framing BTC as a long-term reserve asset. The Senate version of the BITCOIN Act (S.954), led by Sen. Cynthia Lummis, and the House companion (H.R.2032) from Rep. Nick Begich would put the reserve on a statutory footing and spell out acquisition authorities and governance. Both bills were introduced in March and referred to committee, giving a 2025 landing zone if the Senate moves.

In his interview, Hines hinted at continuity inside the administration following his departure—“the last time that we’ve been truly able to speak on digital asset issues was the day before I left, but I’m very confident in Patrick’s [Witt] abilities to perform and deliver for the industry”—and framed the legislative sequencing ahead: GENIUS is done; market structure and the reserve law are the next files in the queue. “We have a market structure on the horizon now… I’m confident they’ll be able to bring that home as well,” he said, before reiterating his expectation of two major crypto bills signed in 2025.

Policy context now matters as much as personnel. The March executive order creating the SBR instructs Treasury to hold seized and forfeited bitcoin in a dedicated reserve, and it authorizes a Digital Asset Stockpile for other tokens. A White House fact sheet emphasizes that bitcoin placed in the reserve will not be sold, underscoring the administration’s positioning of BTC as a strategic, long-duration asset rather than a trading balance. Codification via the BITCOIN Act would remove any ambiguity about acquisition tools, governance, and reporting, and could create explicit “budget-neutral” pathways to accumulate additional bitcoin.

That debate has featured Treasury Secretary Scott Bessent, whose public messaging has whipsawed in recent weeks. In mid-August, Bessent told Fox Business, “We are not going to be buying that,” when pressed on fresh bitcoin purchases, even as he and Treasury officials simultaneously highlighted “budget-neutral” mechanisms under evaluation. A follow-up post on X by Bessent clarified that seized bitcoin will anchor the reserve and that Treasury is still exploring ways to add without tapping taxpayers—precisely the line Hines invoked.

At press time, BTC traded at $110,530.

BTC holds above key support, 1-day chart | Source: BTCUSDT on TradingView.com

Featured image created with DALL.E, chart from TradingView.com

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August 27, 2025 0 comments

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US Prosecutors Challenge ‘Unusually Lenient’ Sentence in HashFlare Mining Fraud

by admin August 27, 2025

In brief

Legal experts say prosecutors face uphill battle appealing “unusually lenient” sentence for Estonians who ran a $577 million crypto Ponzi scheme.
Judge Lasnik sentenced defendants to time served, rejecting prosecutors’ 10-year prison request due to concerns about foreign defendants’ treatment.
HashFlare fraud hit 440,000 victims worldwide through fake mining contracts, with $400 million seized for compensation.

Federal prosecutors have moved to overturn what one legal expert called an “unusually lenient” outcome in one of the largest crypto frauds ever tried in the region.

The government on Tuesday appealed with the Ninth Circuit Court of Appeals the “time served” sentences handed down to Estonian nationals Sergei Potapenko and Ivan Turõgin, who pleaded guilty to conspiracy in a $577 million cryptocurrency mining Ponzi scheme.

The notice challenges both the sentencing hearing decisions and Judge Robert S. Lasnik’s written “Order on Sentencing” issued on Tuesday.

The appeal targets Lasnik’s decision to sentence Potapenko and Turõgin to only three years of supervised release and $25,000 fines each, rejecting prosecutors’ request for 10-year prison terms in what authorities called “the largest fraud ever prosecuted” in the Western District of Washington.

Ishita Sharma, a blockchain and crypto lawyer and managing partner at Fathom Legal, told Decrypt that “the chances are high for the sentence to be upheld” because “the Ninth Circuit generally defers to a district judge’s discretion unless it finds the sentence was clearly outside the bounds of reasonableness.”

Sharma said the Ninth Circuit will weigh whether the judge “properly calculated and considered the U.S. Sentencing Guidelines,” the “consistency” of the ruling with national norms for large fraud cases, and if leniency “undermines general deterrence” in economic crimes.

Navodaya Singh Rajpurohit, legal partner at Coinque Consulting, shared the same view, telling Decrypt that while the sentence may seem “unusually lenient,” Judge Lasnik clearly articulated his reasoning around “time already served, immigration risks, and restitution concerns.”

The legal expert noted Judge Lasnik’s “reasonings are genuine there could actually be problems if they are retained in us,” referring to the systemic concerns about foreign defendants’ treatment that formed the foundation of the sentencing decision.

While “prosecutors can argue it downplays the fraud, but history shows the Ninth Circuit rarely reverses sentences when the judge ties them to specific, well-reasoned order,” he said.

The HashFlare defendants pleaded guilty in February to defrauding 440,000 victims worldwide through fraudulent crypto mining contracts from 2015 to 2019.

They showed customers “fake online dashboards” with fictitious returns while lacking the mining infrastructure they promised, instead using investor funds for luxury purchases and buying Bitcoin through exchanges to pay early withdrawers.

Judge Lasnik has described the case as “one of the most difficult sentencings the Court has encountered during 27 years on the federal bench.”

He noted that all parties agreed the defendants should serve any prison sentence in Estonia through a treaty transfer, but is “taking too great a risk by assuming that office [Department of Justice’s Office of International Affairs] will approve defendants’ treaty transfer rather than reject it,”

Lasnik warned that without treaty transfers, the defendants would “face a significantly longer and harsher term of imprisonment” than American white-collar criminals receiving identical sentences, followed by “indefinite detention” by Immigration and Customs Enforcement before deportation.

However, Sharma noted that the sentence’s “leniency in the face of a massive fraud raises serious concerns about consistency and deterrence.”

The defendants forfeited approximately $400 million in assets for victim compensation.

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August 27, 2025 0 comments

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what the on-chain data says

by admin August 27, 2025

Hyperliquid’s XPL pre-contracts surged from $0.6 to $1.8 in just 5 minutes, fueling speculation of market manipulation as a few whales reportedly pocketed over $46M after massive short liquidations on the derivatives platform.

Summary

Four main wallets profited a combined total of $46M from the August 27 Hyperliquid’s XPL pre-contracts 200% price spike.
The spike was confined to Hyperliquid, with centralized exchanges Binance and Bitget showing no corresponding price movements due to Hyperliquid’s single internal oracle design.
0xb9c…6801e wallet is believed to be associated with Justin Sun due to a historical ETH transfer to an address linked to him 5 years ago, though no direct evidence connects him to the Hyperliquid’s XPL incident.

On August 27, yet another market manipulation event unfolded on the decentralized derivatives platform Hyperliquid, as the token XPL experienced an extreme and rapid price spike. Beginning at approximately 5:50 AM Beijing time, the XPL price surged from around $0.6 to a peak of $1.8 within just five minutes, triggering a cascade of short position liquidations (mostly 1x hedge orders), before quickly falling back to around $0.06.

Analysis of blockchain data by @ai_9684xtpa indicates that four main wallets participated in the activity, collectively profiting approximately $46.1 million. The wallet starting with 0xb9c…6801e acted as the primary driver, depositing $16 million USD Coin (USDC) and placing aggressive buy orders that drove the XPL price sharply upward. This wallet closed a portion of its positions shortly after the peak, realizing $16 million in profit, while still holding an $8.28 million contract position in XPL.

This wallet, presumed to be associated with Justin Sun, just longed millions of $XPL on Hyperliquid, clearing the entire order book and liquidating everyone.

He then started closing his long, making $16M in just one minute. $XPL pumped to $1.80, which is over 200% in 2 minutes… pic.twitter.com/o1x1AdCLeE

— MLM (@mlmabc) August 26, 2025

Three additional wallets — 0xe417…, 0x006…, and 0x894… — ended up profiting from the resulting liquidations. These wallets had accumulated long positions in XPL in the days prior and began closing them near the short-term price peak, securing the remainder of the profits. 0xe417… and 0x006… share the same funding source. 0x894… is relatively independent, funded via Binance, and may have profited by coincidence.

Hyperliquid’s XPL price spike confined to Hyperliquid DEX by single-oracle dependency

Interestingly, the extreme price fluctuation resulting from 0xb9c’s longs occurred exclusively on Hyperliquid. Centralized exchanges Binance and Bitget, which also listed XPL pre-contracts, did not experience corresponding price changes.

Chinese crypto media BlockBeats, posting on Binance Square, attributed this to the design of Hyperliquid’s platform, which relies on a single internal oracle for price determination. Unlike centralized exchanges that aggregate data from multiple sources to stabilize prices, Hyperliquid’s oracle is highly sensitive to concentrated trades. As a result, aggressive buys by a few whales were sufficient to drive the local price up dramatically, without affecting the broader market.

Who is behind this?

While the identities behind the wallets remain unconfirmed, some community speculation has emerged due to historical on-chain activity.

Analyst @ai_9684xtpa noted that the 0xb9c wallet had previously transferred Ethereum (ETH) to an address associated with Justin Sun 5 years ago. However, there is no direct evidence linking him to this event.

This wallet, presumed to be associated with Justin Sun, just longed millions of $XPL on Hyperliquid, clearing the entire order book and liquidating everyone.

He then started closing his long, making $16M in just one minute. $XPL pumped to $1.80, which is over 200% in 2 minutes… pic.twitter.com/o1x1AdCLeE

— MLM (@mlmabc) August 26, 2025

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August 27, 2025 0 comments

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KindlyMD Stock Drops 12% After $5 Billion Bitcoin Stock Offering

by admin August 27, 2025

Healthcare services company KindlyMD (NAKA) share price fell sharply on Tuesday, dropping 12% during trading and another 2.7% after-hours to $7.85. The decline follows the company’s announcement of a $5 billion at-the-market (ATM) equity offering to fund its growing Bitcoin holdings.

Following its recent merger with Nakamoto Holdings, KindlyMD adopted a Bitcoin (BTC) treasury strategy and disclosed that it plans to issue and sell up to $5 billion in common stock through the SEC-approved program.

NEWS: KindlyMD Announces $5 Billion At-The-Market Equity Offering Program. Kindly intends to use the proceeds for: pursuit of a Bitcoin Treasury strategy, working capital, funding acquisitions of businesses, assets or technologies, capital expenditures, and/or investing in…
— Nakamoto (@nakamoto) August 26, 2025

The proceeds will support general corporate purposes, including Bitcoin accumulation, acquisitions, working capital, capital expenditures, and investments in strategic projects.

“Following the successful completion of our merger between KindlyMD and Nakamoto just two weeks ago and our initial purchase of 5,744 Bitcoin, this initiative is the natural next phase of our growth plan,” said KindlyMD Chair and CEO David Bailey, who also advises the Trump administration on crypto policy.

The company acquired 5,743 BTC on August 19 for roughly $679 million at an average price of $118,204 per Bitcoin. Bailey emphasized the importance of transparency and governance, stating that KindlyMD aims to become “world-class” in both areas as the program progresses.

The stock sales will be conducted through multiple agents, including TD Securities and Cantor, at prevailing market prices on exchanges like Nasdaq.

Meanwhile, Canadian psychedelic truffles company Red Light Holland updated its Bitcoin approach, acquiring 10,600 shares of the BlackRock iShares Bitcoin Trust ETF (IBIT) and planning advanced algorithmic trading with Arch Public.

Despite Tuesday’s drop though, KindlyMD shares have surged 330% since May and are up 550% this year, reflecting strong investor confidence in the company’s bold Bitcoin strategy.

Also Read: David Bailey’s Nakamoto Joins KindlyMD to Build Bitcoin Treasury

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August 27, 2025 0 comments

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Everything Goes to Zero Against Bitcoin as BTC Rises: Max Keiser

by admin August 27, 2025

Keiser’s important Bitcoin statement
Keiser names major driver of Bitcoin price

Max Keiser, a Bitcoin maxi, former financial journalist and currently the BTC advisor to El Salvador’s president Nayib Bukele, has stressed the power of Bitcoin as an asset versus all other assets on the market in a recent tweet.

Keiser also hinted at an upcoming Bitcoin price surge, providing a significant reason for that. Meanwhile, Bitcoin is currently sitting at $110,758 after the 2.53% rise over the past 24 hours reversed, turning into a 1.42% decline.

Keiser’s important Bitcoin statement

Keiser has once again published an ultra-bullish Bitcoin forecast with an indefinite time frame, saying that everything goes to zero against BTC, adding this time that it is happening as Bitcoin ascends.

Keiser is an early Bitcoin adopter and evangelist who started accumulating BTC when it was trading at approximately $1, which was soon after its mysterious creator, Satoshi Nakamoto, chose to step away to other projects, leaving his brainchild, Bitcoin, in the hands of an eager developer community.

Keiser names major driver of Bitcoin price

In a tweet published earlier, Keiser quoted an X post of @Vivek4real_, who stated that the Bitcoin hashrate was breaking out, soaring above 900 EH/s. “Hash precedes price,” Max Keiser stated, explaining that Bitcoin miners are true risk takers, unlike Bitcoin buyers, and they “offer the best signal.”

Hash precedes price.

Why?

The miners, not the BTC buyers, are the true risk takers and offer the best signal.

Mining has been completely impervious to price. Miners know what’s coming.

Name another commodity where mining/ drilling is entirely price insensitive like… https://t.co/K2k8wgd9Hc

— Max Bitcoin (@maxkeiser) August 26, 2025

“Miners know what’s coming,” Keiser is certain, adding that with no other commodity mining/drilling is entirely price insensitive as with Bitcoin.

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August 27, 2025 0 comments

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SEC Crypto Task Force And Kraken Discuss Asset Tokenization

by admin August 27, 2025

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The US Securities and Exchange Commission’s staff and crypto exchange Kraken recently discussed various issues related to the tokenization of traditional assets and the regulatory framework for these assets.

Kraken Meets With Crypto Task Force

On Monday, Kraken and the US SEC Crypto Task Force’s staff met to discuss the tokenization of traditional assets and a potential tokenized trading system in the US. The Commission’s staff had a meeting with representatives from Payward, Inc., Kraken Securities LLC, and law firm Wilmer Cutler Pickering Hale and Dorr LLP.

According to the SEC’s memorandum, the agenda included approaches to address issues related to the regulation of crypto assets and the legal and regulatory framework for operating a tokenized trading system.

Notably, the topics also included an outline of the core components of the proposed tokenized trading system’s architecture, addressing potentially relevant provisions under the federal securities laws, examining how the SEC can provide regulatory clarity and facilitate innovation, and discussing the benefits of tokenization.

The reunion follows the crypto exchange’s interest in launching tokenized stocks of popular equities outside of the US. In May, Kraken announced its plan to allow non-US customers to trade a tokenized version of popular equities, offering over 50 stocks and Exchange-Traded Funds (ETFs), like Apple, Tesla, and Nvidia.

Kraken’s tokenized equities enable users in Europe, Latin America, Africa, and Asia to invest in US stocks even when the US stock market is closed, with lower trading costs and faster settlement.

Similarly, Coinbase is seeking the SEC’s approval to offer tokenized stocks to its customers. In June, Coinbase’s Chief Legal Officer (CLO), Paul Grewal, told Reuters that the emerging sector is a “huge priority” for the crypto exchange.

Nonetheless, Coinbase would need to be granted a “no action letter” or exemptive relief from the Commission, as typically, companies that offer trading in securities must be registered as broker-dealers under the securities regulator.

“With a no-action letter, an issuer of a tokenized equity or a platform that wishes to offer secondary trading in those equities can have some confidence, some comfort, that the SEC has adopted its view of why this product is compliant,” Grewal stated, noting that, “it’s that confidence that has been lacking so far, and I think really held back a lot of the institutional adoption” of crypto and blockchain technology.

Industry Concerns For Tokenized Equities

Kraken’s push for regulatory clarity regarding tokenized stocks also follows recent concerns from the world’s biggest stock exchanges. On August 25, Reuters reported that the World Federation of Exchanges (WFE) called on securities regulators to crack down on tokenized equities, arguing that the blockchain-based tokens “create new risks for investors and could harm market integrity.”

The letter was reportedly sent to the SEC’s Crypto Task Force, the European Securities and Markets Authority (ESMA), and global securities watchdog IOSCO’s Fintech Task Force on August 22. The coalition expressed its concerns that these tokens “mimic” equities without providing the same rights or trading safeguards.

Earlier this year, the World Economic Forum outlined some of the major challenges for tokenized equities adoption, including the lack of sufficient secondary-market liquidity and a clear global standard.

“We are alarmed at the plethora of brokers and crypto-trading platforms offering or intending to offer so-called tokenised U.S. stocks,” the WFE wrote in the recent letter, suggesting that issuers of stock could suffer reputational damage if the tokens fail.

The WFE urged regulators to apply securities rules to tokenized assets, clarify legal frameworks for ownership and custody, and prevent them from being marketed as equivalent to stocks.

Bitcoin (BTC) trades at $110,337 in the one-week chart. Source: BTCUSDT on TradingView

Featured Image from NBC News, Chart from TradingView.com

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August 27, 2025 0 comments

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Kindly MD’s $5B Bitcoin Play Comes as DATs Raise Fears for Wider Altcoin Liquidity

by admin August 27, 2025

In brief

Nasdaq-listed Kindly MD filed an automatic shelf registration for up to $5 billion.
The move follows a $679 million Bitcoin purchase through its subsidiary.
Analysts warn Bitcoin-focused treasuries may drain liquidity from altcoins.

Nasdaq-listed healthcare firm Kindly MD filed an automatic shelf registration statement with the SEC on Tuesday, electing to distribute up to $5 billion in stock as it expands its capital reach following a $679 million Bitcoin purchase last week.

“Bitcoin will serve as our primary treasury reserve asset, and we are focused on accumulating a long-term Bitcoin position,” Kindly MD stated in the filing.

The filing establishes Kindly MD as a Well-Known Seasoned Issuer, a designation that allows the company to tap capital markets with more flexibility.

It also authorizes a mix of instruments beyond common stock, with distribution handled by underwriters including Cantor Fitzgerald, TD Securities, and B. Riley Securities in the U.S., as well as Canada’s Canaccord Genuity, among others.

Last week, Kindly MD disclosed a $679 million Bitcoin purchase through its subsidiary, Nakamoto Holdings, marking the first acquisition under its new treasury reserve strategy in a move it said reinforces its “conviction in Bitcoin” as “the ultimate reserve asset” for corporations and institutions.

While the WKSI status “clearly gives a company an advantage in capital raising,” it also imposes pressure “due to the large issuance volumes and high market volatility risks,” Jay Jo, senior analyst at Tiger Research, told Decrypt.

At the expense of altcoins

“Institutional crypto exposure has, without fear, expanded into corporate balance sheets and treasury strategies,” Kelvin Koh, co-founder and CIO at Asia-based venture capital firm Spartan Group, told Decrypt.

This has been the case since “the approval of U.S. Bitcoin ETFs in early 2024,” which had aligned with the Trump administration’s pro-crypto policies that “have eventuated as promised,” Koh said.

Those events have “normalized crypto exposure” and “opened the door for altcoin-focused digital asset treasuries,” he added.

Yet the continued accumulation and expansion of DATs might open broader trade-offs, Koh opined.

“While DATs bring significant liquidity to the assets they target, for now this may be at the expense of the wider altcoin market,” he said.

Koh co-authored a separate research paper on the future trajectory of DATs, where he traced the trend’s first forays.

“DATs were almost exclusively Bitcoin-focused, with their appeal grounded in Bitcoin’s narrative as a scarce, non-sovereign store of value acting as a hedge against fiat currencies,” Koh wrote.

As a model, DATs rely heavily on raising equity to buy crypto, giving them high exposure to volatility that could cut off new capital and force asset sales that risk amplifying market declines, the paper argues.

“When hundreds of firms pursue the same strategy, the market structure becomes fragile,” Koh warned.

Decrypt has approached Kindly MD for comment.

Editor’s note: This story’s headline has been updated to better reflect Koh’s statements.

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August 27, 2025 0 comments

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Ripple, Circle back Tazapay to expand cross-border payments

by admin August 27, 2025

Singapore-based cross-border payments firm Tazapay has secured new funding from Ripple and Circle Ventures, positioning itself as a key bridge between traditional finance and stablecoin-powered transactions.

Summary

Ripple and Circle invested in Singapore-based Tazapay’s Series B round.
The cross-border payments platform processes $10B+ annually and is growing 300% YoY.
Funds will accelerate licensing in the U.S., UAE, Hong Kong, Australia, and beyond.

Tazapay announced on Aug. 27 that it closed its Series B funding round with participation from Peak XV Partners, Ripple (U.S.), Circle Ventures, Norinchukin Capital (Japan), and GMO VenturePartners (Japan).

Existing investors January Capital and ARC180 also joined the round, while Peak XV Partners, formerly Sequoia Capital India and Southeast Asia, led the financing. The company did not disclose the amount raised.

Bridging fiat and stablecoins

The addition of Ripple and Circle, two of the most prominent players in blockchain-based and stablecoin payments, highlights Tazapay’s growing role in linking fiat systems with digital asset infrastructure. Circle, the issuer of USD Coin (USDC), and Ripple, the firm behind the XRP (XRP) Ledger, are expected to help Tazapay strengthen its fiat-to-stablecoin settlement rails in emerging markets.

The Singapore-based company already processes more than $10 billion in annualized payment volume and claims 300% year-over-year growth. It offers coverage across alternative payment methods, cards, virtual accounts, payouts, and stablecoin settlements.

Regulatory expansion

Tazapay, which already holds licenses in Singapore, Canada, and the EU, plans to accelerate licensing efforts in the U.S., UAE, Hong Kong, and Australia with the help of its new funding. The business also plans to apply for a Singaporean license for Digital Payment Tokens.

With the help of new alliances with GMO VenturePartners and Norinchukin Capital, the business, which has already achieved operational breakeven, plans to expand into markets like Japan.

Tazapay was founded in 2020 and has since gained a reputation as a very reliable and regulated platform for B2B marketplaces, multinational corporations, and fintechs. With backing from Ripple and Circle, the company is expected to play a major role in the integration of traditional banking and blockchain-based payments.

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August 27, 2025 0 comments