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All BTC Wallet Cohorts Now in Distribution Mode
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All BTC Wallet Cohorts Now in Distribution Mode

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Sentiment in the crypto industry can shift quickly.

According to Glassnode data, all bitcoin

wallet cohorts are currently in some form of distribution. The Accumulation Trend Score (ATS), broken down by wallet cohort, helps measure the relative strength of accumulation or distribution across entity sizes.

This metric evaluates accumulation strength by considering both the size of the entities and the amount of bitcoin acquired over the past 15 days.

  • A score closer to 1 indicates accumulation.
  • A score closer to 0 indicates distribution.
    Exchanges, miners, and certain other entities are excluded from the calculation.

At present, from large holders with more than 10,000 BTC to small wallets holding less than 1 BTC, all cohorts appear to be in distribution. This marks a sharp reversal from just over a week ago, when all groups were in accumulation mode as bitcoin reached new all time highs above $124,000.

The current phase of distribution reflects profit taking. Historically, bitcoin tends to correct shortly after setting new record highs. The aggregate Accumulation Trend Score has printed 0.26, remaining below 0.5 for the past several days.

Bitcoin has posted four consecutive green months from April through July. However, August is often characterized by quieter trading activity and reduced volume. In fact, the last three Augusts each saw corrections in the double-digit percentage range.



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Japanese 3D Housing Firm Plans Bitcoin Buy After NFT Housing Initiative
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Japanese 3D Housing Firm Plans Bitcoin Buy After NFT Housing Initiative

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Japan-based 3D printed housing firm Lib Work Co. has become the latest non-crypto native company to buy Bitcoin for its corporate treasury, coming just a month after launching an initiative that uses non-fungible tokens to store house designs. 

In a Monday statement following its board meeting, Lib Work announced plans to purchase 500 million Japanese yen ($3.3 million) worth of Bitcoin (BTC) as a hedge against “inflationary trends” in Japan and the risks of “holding assets only in cash.”

“Therefore, our company has decided to adopt a phased approach to acquisition and holding, in response to these risks and to prepare for future growth areas with overseas operators,” the firm said. 

Three-month Bitcoin buying spree

Lib Work will buy Bitcoin in a series of purchases from crypto exchanges starting in September and continuing until December, while also establishing a risk management system, according to its statement.

At current prices, one Bitcoin is worth around $115,377, meaning the company could buy roughly 28 for $3.3 million, making it 105 on the list of top Bitcoin treasury companies, overtaking French payment provider BD multimedia.

Source: Lib Work Co.

It comes only a month after Lib Work launched an NFT-backed 3D printed housing initiative to store blueprints on the blockchain and use Bitcoin as a payment method. 

First NFT house blueprint goes live 

Lib Work said in a July 25 statement that one of its house designs, a Lib Earth House Model B, was issued as an NFT and aims to protect the intellectual property and to act as an ownership certificate linked to the physical home. 

The NFT can store the house’s ID, history, and ownership information on the blockchain to ensure buyers hold exclusive design rights and prevent unauthorized blueprint plagiarism. 

“Because 3D printed houses are based on digital designs, protecting the rights to these design files and managing their licenses is essential,” Lib Work said. 

 “Currently, blockchain technology and NFTs are expanding beyond the art and music industries into real estate and intellectual property sectors.” 

NFT blueprints could help solve building challenges 

In recent years, the construction industry has faced labor shortages and soaring material costs, which, according to Lib Work, show the “limitations of traditional construction methods.”

Related: Strategy adds $51M in Bitcoin as price hit $124K ahead of sharp dip

The company said 3D printing construction methods and asset digitalization could help solve some of these challenges by reducing labor, time, costs and “creating new international housing markets for the metaverse and Web3 era.”

“By creating NFTs for 3D printed houses, Lib Work will build new housing distribution mechanisms for investors and users worldwide, actively promoting international brand value and expansion into new markets.”

Lib Work was founded on Aug. 1, 1997. The firm changed its name in April 2018 and started focusing on building 3D printed homes. 

It mainly sells detached houses and real estate using the internet and virtual reality, according to its company profile. 

Magazine: Scottie Pippen says Michael Saylor warned him about Satoshi chatter



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Michael Saylor Will Never Give up on Bitcoin, His New X Post Promises
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Michael Saylor Will Never Give up on Bitcoin, His New X Post Promises

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  • Michael Saylor’s Bitcoin message to community
  • Strategy buys additional 430 BTC

Michael Saylor, a vocal Bitcoin evangelist and Strategy’s executive chairman, has published a new X post dedicated to BTC, as the world’s largest digital currency has fallen back to the $115,000 price level.

Saylor’s message may hint that he is never going to give up on Bitcoin. This aligns with Saylor’s earlier statements that Strategy intends to always buy Bitcoin and hold “Bitcoin forever” too.

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Michael Saylor’s Bitcoin message to community

Saylor published an AI-generated image of himself depicted as an ancient warrior from a fantasy saga, wearing armor and holding a shield to cover his chest. The caption contains only two words, but they reflect Saylor’s attitude to holding and supporting the world’s pioneer cryptocurrency: “Bitcoin Forever.”

This bullish message was issued after Saylor announced yet another BTC accumulation made by the company.

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Strategy buys additional 430 BTC

On Monday, Saylor addressed his millions of X followers with a tweet, announcing that Strategy had spent roughly $51.4 million to acquire an additional 430 Bitcoins. This crypto was bought at approximately $119,666 per BTC, and it propelled the company’s total holdings to 629,376 Bitcoin, valued at $72,293,274,240 at the current BTC/USD exchange rate.

Besides, according to the X post, Strategy has achieved a Bitcoin yield of 25.1% year-to-date for its shareholders. The only company that holds a larger amount of BTC is BlackRock iShares spot Bitcoin ETF IBIT.

Strategy remains the largest Bitcoin treasury company on the market, releasing various types of securities to fund its regular BTC purchases. By now, the range of its BTC tools includes MSTR, STRC, STRK, STRF and STRD, offering various types of Bitcoin-based investments.



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South Korea’s New Stablecoins Framework Coming In Q4

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

South Korea’s financial authority is expected to release the long-awaited regulatory framework next quarter, offering clear guidelines for the issuance and distribution of won-pegged stablecoins.

Stablecoin Guidelines By October

On Monday, local news media outlets reported that South Korea’s financial regulator, the Financial Services Commission (FSC), is expected to release a bill for a stablecoin pegged to the Korean won (KRW) within two months.

According to MoneyToday, a member of the Democratic Party of Korea (DPK), Park Min-kyu, confirmed that he had “recently received a report from the FSC on the direction of stablecoins,” affirming, “The government’s bill is expected to be submitted to the National Assembly around October.”

The bill is anticipated to be included in the second phase of the Virtual Asset User Protection Act. Notably, the FSC has been working to develop digital assets legislation and shift its regulatory approach for over a year, establishing the Virtual Asset Committee in November to prepare the next phase of its plan and finalize it by the second half of 2025.

The second phase of the Virtual Asset User Protection Act includes regulations on the distribution of digital assets and stablecoins, continuing its efforts to align with global standards. The FSC’s Vice Chairman Kim So-young previously stated that the Korean government was “speeding up efforts” to develop the Korean crypto market while protecting users.

Attention will be focused on the content of the rules, the report affirmed, as the FSC plans to unveil a regulatory framework outlining requirements for issuing won-pegged stablecoins, collateral management, and internal control systems, which have been a concern among both the crypto and banking industries.

The FSC’s Secretary-General warned in January that the regulator needed to address listing standards, how to deal with stablecoins, and how to create rules for the behavior of virtual asset exchanges.

Meanwhile, the banking sector has been studying two legalization scenarios, since it remains unclear whether non-bank entities will be allowed to be stablecoin issuers. Financial institutions have also been considering a business model in which banks establish a joint venture to issue stablecoins.

Stablecoins’ Momentum In South Korea

As the new media outlet noted, institutionalization of won-pegged stablecoins has gained significant attention after President Lee Jae-myung pledged it during his presidential campaign. The electoral promise, which also vowed to address the status of crypto-based exchange-traded funds (ETFs), followed the US’s regulatory shift under the Trump administration and its push for USD-pegged stablecoins, which currently lead the sector.

Previously, the chairman of the South Korea Stock Exchange, Jeong Eun-bo, urged authorities to institutionalize crypto in the country, noting that the Korean market needs to be revitalized to compete with other nations and prevent falling behind international markets.

Over the past two months, multiple bills related to the issuance and distribution of KRW-pegged stablecoins have been introduced in South Korea’s National Assembly. As reported by Bitcoinist, Korea’s ruling and opposition parties proposed rival bills in July to establish the highly anticipated regulatory framework for digital assets pegged to the Korean won.

Member of the Planning and Finance Committee from the Democratic Party, Ahn Do-gil, introduced the “Act on the Issuance and Distribution of Value-Stable Digital Assets,” while member of the Land, Infrastructure, and Transport Committee from the People Power Party (PPP), Kim Eun-hye, proposed the “Act on Payment Innovation Using Value-Fixed Digital Assets.”

Both bills share several similarities, including the assignment of stablecoin oversight to the Financial Services Commission (FSC). However, the two proposed legislation differ in the issue of interest payments, with the PPP’s bill allowing interest payments and the DPK’s bill completely banning interest payments to prevent market disruption.

Min Byung-deok, a member of the National Assembly’s Government Committee, also introduced the “Digital Assets Basic Act” in June, which proposes allowing the issuance of won-pegged stablecoins and establishing a Digital Asset Committee under the direct authority of the president.

Amid the global push for stablecoins, Korean individuals investing in overseas stocks have reportedly shifted from US big tech equities to crypto-linked stocks, with a focus on stablecoin-related companies throughout July, suggesting growing interest in the sector.

Bitcoin (BTC) trades at $116,082 in the one-week chart. Source: BTCUSDT on TradingView

Featured Image from Unsplash.com, Chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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GENIUS Act Was Signed One Month Ago
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GENIUS Act Was Signed One Month Ago

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The GENIUS Act was signed by President Donald Trump on Jul. 18, 2025. The bill was aimed at setting a legal framework for stablecoin issuers. One month after signing it into law, we can see the real impact as stablecoin-focused blockchains and corporate-issued stablecoins become a hot topic. How did the GENIUS Act help launch these trends, and why do the Free Banking era comparisons emerge in the discussions about the GENIUS Act?

Summary

  • The GENIUS Act sparked new trends in the stablecoin space even before it was signed into law.
  • Big tech companies, including Amazon, Meta, Airbnb, and Uber, are looking to integrate stablecoins into their infrastructure. 
  • Some corporations issue stablecoins, while others are developing dedicated stablecoin layer-1 blockchains.
  • Alarmists were comparing stablecoins to wildcat banknotes of the free banking era. Now, the GENIUS Act makes these claims obsolete.

The stablecoin space and the GENIUS Act

The GENIUS Act, or Guiding and Establishing National Innovation for U.S. Stablecoins Act, sets the rules for issuers of stablecoins, which are cryptocurrencies with fixed value usually pegged to a certain fiat currency or other type of asset. The stablecoin space is largely dominated by tokens pegged to the U.S. dollar. 

For many people, stablecoins became a handy remittance tool as they, unlike other types of cryptocurrencies, preserve their value while being transferred swiftly across the globe, requiring nothing except a crypto wallet. While many see Bitcoin as a store of value (or “digital gold”), stablecoins are a practical means of payment. Additionally, in countries with high inflation rates, where local currencies quickly lose their value against the U.S. dollar, stablecoins serve as a savings account.

According to the White House ‘Crypto Czar’ David Sacks:

“Stablecoins really have the potential to ensure American dollar dominance internationally, to increase the usage of the U.S. dollar digitally as the world’s reserve currency, and in the process create potentially trillions of dollars of demand for U.S. treasuries.” 

🚨 BREAKING:

TRUMP‘S CRYPTO CZAR DAVID SACKS SAYS STABLECOINS HAVE THE POTENTIAL TO ENSURE THE US DOLLAR DOMINANCE INTERNATIONALLY! 🇺🇸

‚RLUSD‘ IS ABOUT TO CONQUER THE STABLECOIN MARKET! 🏆 #XRP 🤝🏼 RLUSD pic.twitter.com/ULxYWiFEKZ

— 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) February 4, 2025

The growing popularity of USD-pegged stablecoins across the world facilitates an indirect demand for the U.S. dollar and the U.S. Treasury bills. Especially given that the GENIUS Act requires stablecoin issuers to back their supply and make each token redeemable. Thus, stablecoin issuers stimulate the buy pressure on USD and keep these dollars to back their supply instead of selling them, while people will keep on using stablecoins not only to dodge sanctions or buy illicit goods, but simply because individuals and institutions find paying in stablecoins is easy. Soon, integration with Mastercard and other traditional payment systems will likely make stablecoins more popular.

What is the impact of the GENIUS Act?

The GENIUS Act was influential even before becoming the law. As the bill was a bipartisan effort under the crypto-friendly administration, big corporations began to share plans for various projects that involve stablecoins. For instance, Apple, X, Uber, and Airbnb started working on possible stablecoin integration before the passage of the GENIUS Act.

Another new trend, hardly possible during the gray area stablecoins era, is the emergence of stablecoin-focused layer-1 blockchains. USDC issuer Circle is working on the Arc blockchain, designed to work with stablecoins. Payment processor Stripe is working on its own stablecoin-focused Tempo layer-1 blockchain. Stable and Plasma are startups developing their respective stablecoin blockchains. Competition grows as companies strive to gain more control over the flow of stablecoins and decrease transaction costs.

On top of that, by July, several corporations outside the crypto industry introduced plans to launch their corporate stablecoins. The names include Walmart, Meta, and Amazon. In May, four major banks, Wells Fargo, Citigroup, JPMorgan, and Bank of America, started exploring the possibility of collaborating on a joint stablecoin.

As the bill was signed into law, the number of companies planning to issue their USD-pegged stablecoin surged while already existing stablecoin issuers continued to work on scaling their products for institutional use. Currently, corporations working on their USD-pegged stablecoins include Société Générale, Revolut, and Fiserv. 

It is hardly a coincidence that the emergence of such a massive and diverse surge in stablecoin-focused projects by big tech corporations and startups takes place when the GENIUS Act streamlines the stablecoin business.

The GENIUS Act and free banking

For years, USD-pegged stablecoin critics have been drawing parallels between stablecoins and the Free Banking era in the U.S. The latter was a period in the 19th century, when banks were issuing dollar-denominated private currencies against their gold reserves with little to no government oversight.

In the wake of the stablecoin’s popularity spike and especially after the GENIUS Act bill’s emergence, this comparison began to gain traction. Some see this parallel as inspiring, while others are less optimistic, citing the worst examples of “wildcat” bank-issued banknotes that caused chaos in several regions of the U.S.

“In a similar manner to how privately-issued “wildcat” currencies were replaced by government-backed central currencies in the late-1800s, Central Bank Digital Currencies (CBDC) will likely need to replace stablecoins…”

Source: https://t.co/uVrEs8Xe9K

— Gold Telegraph ⚡ (@GoldTelegraph_) November 4, 2024

Crypto investor and writer Nic Carter took a bold stance, making a solid effort in dotting the i’s in this debate. In an essay titled “The Last Word on Stablecoins and Free Banking,” Carter suggests that stablecoins indeed were similar to questionable and unreliable wildcat currencies before the GENIUS Act passage, and it was the new law that eliminated the risks, thanks to requirements of 100% backing of supply and other holder protection measures.

“…when you consider today’s stablecoins against the failures of the banks in antebellum America, the specific reasons that free banks failed in the US are today addressed with stablecoins, especially in the post-GENIUS regime. In my view, the lessons of this particular historical episode actually vindicate the contemporary stablecoin project, rather than diminishing it.”

Carter outlines that the free banking experience in Canada and Scotland was more positive than in the U.S., and it was the U.S. government’s restrictions that were to blame for the failure of free banking in the U.S.

i would like to make it illegal to talk about free banking (in the context of stablecoins) without having read the following books:

– Free Banking in Britain: Theory, Experience, and Debate, 1800–1845 by @lawrencehwhite1

– Competition and Currency: Essays on Free Banking and…

— nic carter (@nic__carter) July 22, 2025

Carter claims that many stablecoin critics use comparison with the Free Banking era to advocate for the adoption of central bank digital currencies, a form of central-bank stablecoins rejected by the Trump Administration.

Matt Hougan, the CIO at Bitwise, is another notable opposer of comparisons between wildcat banks and stablecoins. The day the GENIUS Act was signed into law, he took to X to dismiss the “careless comparison.” Hoguan explained that one of the problems with free banking was that redemption of banknotes required a physical visit to the bank, and depending on the distance from the issuer, its notes could trade at a discount to other dollars.

Defending stablecoins, Hougan wrote:

“In the Genius Act, there are strict limits on the assets [issuers] hold, redemptions can be made daily from anywhere, and stablecoin prices will trade on exchanges, allowing instant convertibility and price discovery. State-regulated stablecoins are size-limited ($10b cap), which means they’ll be a vanishing fraction of the market, and are generally subject to the same asset holding and redemption provisions as the federally regulated stablecoins that will make up 95%+ of the market.”

Lately, it is easier to find favorable comparisons between the free banking era and stablecoins than alarmist ones, so it seems that the narrative shifts and a more positive stance is taking over. Nevertheless, one month is a very short period for a high-scale business, and a lot of things may unfold in the time to come.





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Solana Handles 100K Transactions Per Second in Test Run: Here’s Why It Matters

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In brief

  • A Solana validator processed blocks with greater than 100,000 transactions per second in an experiment.
  • The performance improvement was more than 25x the typical throughput of the Solana mainnet.
  • Key Solana backers suggest that it means the network is ready for much more.

The Solana network briefly processed more than 100,000 transactions per second (TPS) in an on-chain experiment Sunday. That’s more than 25 times the network’s typical throughput, according to data gathered by the network’s explorer.

Solana already massively outpaces O.G. blockchain networks like Bitcoin and Ethereum on that front, but the Sunday peak beats Visa’s own high mark of handling up to 65,000 transactions per second.

The Solana validator operator behind the feat said that it showcases what’s possible if continued technical developments and efficiency improvements make their way to the popular layer-1 blockchain.

“The main point I want to get across is that Solana needs more efficient programs and an efficient token standard,” pseudonymous validator Dr. Cavey PHD told Decrypt. 

The rest of the network struggled very little to replay these blocks, and the subsequent leader produced their blocks normally.

This is a significant milestone not only for the network of over 1000 validators, but for distributed systems.

— dr cavey phd ⏳ (@cavemanloverboy) August 17, 2025

Cavey’s validator achieved a peak of 104,529 TPS on Sunday in what they called an experiment conducted on a “whim.” 

However, unlike a typical Solana block filled with transactions like token swaps or meme coin launches, the experimental blocks instead were filled with “votes, a few normal transactions, and a significant number of ‘no-op’ transactions,” or those that don’t require much computation. 

Nevertheless, if extrapolated out and handled with more efficient programs and token standards, Cavey believes the network could process approximately 100,000 token transfers per second—or 10,000-20,000 swaps in its current state. 



With such programs and token standards in place, they said, Solana can become the foundational infrastructure for on-chain markets that it aims to be. 

“High capacity enables the world’s markets to all be on-chain,” said Cavey. “Without the capacity, we can only ever hope to support a handful.” 

Solana’s real-time throughput is around 3,600 TPS at present time, according to the block explorer on Solana.com. For comparison, competing network Ethereum’s real-time mark is around 20.7 TPS, according to data from Etherscan—around 170 times slower than Solana. 

Why is it so important that Solana can achieve 100,000 TPS?

“It’s important insofar as it demonstrates that the network can clearly scale over an order of magnitude more than the current utilization, which is already several orders of magnitude over most blockchains,” Multicoin Capital Managing Partner Kyle Samani told Decrypt. “It means that Solana is ready to support web-scale applications today.” 

“This enables more activity to come on-chain,” Mert Mumtax, CEO of Solana infrastructure firm Helius Labs, told Decrypt. “More finance, more oracle updates, more market-making, etc. And of course: lower fees for users.”

Developers too stand to gain, according to Samani, who added that major throughput gains “opens up an entirely new design space for transaction-heavy applications.”

In July, a blog post authored by leading Solana stakeholders (including Samani) outlined a technical roadmap designed to make Solana the home of the world’s best financial markets, with improvements scheduled regularly for the next few years. 

But according to Cavey, major throughput improvements like those showcased in their experiment could be here even sooner.

“Three months at best,” the validator said, “six months at worst.” 

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Figure Joins Crypto IPO Rush With Nasdaq Listing Bid Under FIGR

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Figure, the blockchain-powered lender founded by SoFi co-founder Mike Cagney, has filed with the Securities and Exchange Commission for an initial public offering as the latest entrant in a growing crypto IPO wave.

The company plans to list its Class A shares on the Nasdaq under the ticker FIGR, with Goldman Sachs, Jefferies, and BofA Securities serving as lead underwriters.

Figure’s path to public markets has been years in the making. In 2021, it launched a special purpose acquisition company, Figure Acquisition Corp. I, with a $250 million raise aimed at acquiring growth-stage businesses using Provenance as an efficiency layer, however in the end this SPAC did not bring Figure to market.

A friendlier regulatory stance under the Trump administration and buoyant crypto and stock markets have set the stage for a surge of digital asset firms tapping the equity markets, including crypto exchange Bullish which is the owner of CoinDesk.

The company last month merged with Figure Markets, a blockchain marketplace also launched by Cagney that issues YDLS, a yield-bearing stablecoin structured as a tokenized money market fund.

Financials disclosed in the S-1 show revenue up 22.4% in the first half of 2025 to $190.6 million, with net income of $29 million compared with a $13 million loss a year earlier.

According to the filing with the SEC, proceeds from the IPO will fund working capital and potential acquisitions, with no dividends planned.



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CryptoZoo Suit Fails to Tie Logan Paul to Collapse: Judge
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CryptoZoo Suit Fails to Tie Logan Paul to Collapse: Judge

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YouTuber Logan Paul’s bid to dismiss a proposed class-action lawsuit over his defunct non-fungible token (NFT) project CryptoZoo should be allowed, says a Texas magistrate judge.

Magistrate Judge Ronald Griffin advised an Austin federal court on Thursday that the class group had not sufficiently tied Paul to their claims that they lost money by buying into the CryptoZoo project.

The recommendation could see a federal judge drop the suit unless the class updates it. 

The group is made up of CryptoZoo buyers who first sued Paul and others allegedly tied to the project in February 2023, alleging it was a “rug pull” that promised perks which never materialized.

However, Griffin said the class should be allowed to amend all but one of their 27 claims against Paul, but said a claim alleging he committed commodity pool fraud should be permanently dismissed.

“Mental gymnastics” needed for commodity pool fraud claim

Judge Griffin said in his 75-page report that his recommendation to dismiss the lawsuit’s commodity pool fraud claim came as the court “does not follow Plaintiffs’ logic.”

The class argued that CryptoZoo NFTs were an option contract as they started as “eggs” that “hatch” into animals, which then can be bred with others to create hybrid animals that could be traded.

An example of a CryptoZoo NFT hybrid animal that is a cross between an elephant and a shark. Source: CryptoZoo

“In other words, because purchasers buy CZ [CryptoZoo] NFTs unaware of their value until they hatch, and because the CZ NFT animals can be bred with others to create hybrid NFTs, an option contract is thereby formed,” Judge Griffin wrote.

“The mental gymnastics required to come to this conclusion are truly dizzying,” he added. “Plaintiffs do not explain—nor can the Court understand—how their purchases of CZ NFTs create option contracts or contracts for future delivery.”

Other claims fail to tie in Paul 

Judge Griffin said that the lawsuit failed to properly connect Paul to the 26 other claims made against him, saying they hadn’t yet shown evidence that he directly and personally benefited from CryptoZoo’s collapse.

The lawsuit brought claims of fraud, unjust enrichment, negligence, breach of contract, fraud conspiracy, aiding and abetting fraud and breaches of consumer law in multiple states, among others.

Judge Griffin said in some cases the complaint gave “only fragments of facts accompanied by vague attributions of conduct to ‘Defendants’” or looked to “jam together two pieces of different puzzles in the vain hope of producing a final, cohesive product.”

“Unfortunately, the caselaw does not support this tactic.”

Paul refunded CryptoZoo buyers

The class group sued Paul and CryptoZoo co-founders Eduardo Ibanez and Jake Greenbaum in 2021, and Paul alleged in January 2024 that the duo conned him, causing CryptoZoo’s collapse, which Judge Griffin urged the court in July to rebuff.

Related: Digital Currency Group sues subsidiaries over $1.1B promissory note 

In January 2023, Paul promised to make a plan for CryptoZoo and put aside $2.3 million for refunds for CryptoZoo buyers a year later under the condition that claimants agreed not to sue over the project.

Buyers were refunded 0.1 Ether (ETH), the same amount the CryptoZoo NFTs were originally sold for in 2021.

Magazine: Influencers shilling memecoin scams face severe legal consequences 



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Tom Lee Climbs to #2 in Corporate Crypto Race. Is Saylor Safe?
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Tom Lee Climbs to #2 in Corporate Crypto Race. Is Saylor Safe?

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  • Ethereum’s Saylor 
  • Is Saylor’s crown safe? 

Tom Lee’s BitMine Immersion Technology (BMNR) has now climbed to second spot on the list of the biggest cryptocurrency treasury companies. 

According to data provided by Arkham Intelligence, it now holds a staggering $6.6 billion worth of Ethereum (ETH). In fact, it now controls close to 1.3% of the altcoin’s entire circulating supply. 

Ethereum’s Saylor 

Lee, who used to be JPMorgan’s chief equity strategist, co-founded Fundstrat Global Advisors in 2014. He gained prominence back in 2017 by becoming one of the first Wall Street analysts to openly back Bitcoin. 

The famed “permabull” had frequent TV appearances, during which he would make ridiculously bullish predictions in 2017 and early 2018 that backfired during the brutal cryptocurrency bear market that ensued shortly after. 

After briefly pausing his Bitcoin price predictions, Lee then continued making frequent appearances on CNBC with bullish cryptocurrency calls. As reported by U.Today, Lee predicted that Bitcoin could soar to $250,000 this year. 

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In June, however, Lee went from making permabullish predictions to spearheading a bold Ethereum treasury play. In June, it was announced that he had become the chairman of Bitmine, which used to specialize in providing immersive cooling solutions. 

Within a short span of time, Bitmine managed to attract some heavyweight investors, such as Peter Thiel, Bill Miller, and Cathie Wood. 

Earlier this month, Bitmine unveiled that it intended ot secure an additional $20 billion for future Ethereum (ETH) buys. 

Is Saylor’s crown safe? 

Despite surpassing some of the biggest Bitcoin treasury companies, Lee’s Bitmine is still miles away from Saylor. 

Strategy currently holds a whopping 629,376 Bitcoins that are worth a whopping $73.24 billion at current prices. 



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Japan Eyes Approval Of Yen-Backed Token

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Japan is inching towards the approval of its first yen-backed stablecoin, with regulators likely to approve it as soon as October.

Nikkei reports that the token, named JPYC, will be issued by Tokyo fintech company JPYC and will be backed by the Japanese yen with reserves like bank deposits and government debt.

Stablecoin Target Remittances And Corporate Payments

The forthcoming launch follows a 2023 revision of Japan’s Financial Services Agency’s legal requirements classifying stablecoins as “currency-denominated assets.”

With this regulation, only licensed money transfer companies, trust companies, and banks may issue them. JPYC is in the process of registering as a money transfer company within the month, which will enable selling tokens shortly afterward.

The company’s goal is ambitious. Within the next three years, it plans to sell 1 trillion yen’s worth of JPYC, roughly $6.8 billion at the current rate of 147 yen per dollar.

🇯🇵 Japan to greenlight first yen-based stablecoin.

The Financial Services Agency will approve the issuance of Japan’s first yen-denominated stablecoin as early as autumn, with the aim of using it for international remittances and more.

— World of Statistics (@stats_feed) August 18, 2025

The tokens might be utilized for cross-border remittances, corporate payments abroad, or trading in decentralized finance markets.

News also indicates hedge funds dealing in cryptocurrencies and family offices handling money of rich investors are already evincing interest.

Carry Trades Attract Institutional Interest

Market observers think that JPYC can also find use in carry trades, which exploit the disparity in interest rates among currencies.

That prospect has attracted institutional interest at a point when stablecoins are becoming popular worldwide.

BTCUSD trading at $115,718 on the 24-hour chart: TradingView

Dollar-backed tokens continue to hold sway, with the overall value of all stablecoins recently hitting more than $250 billion.

Tether’s USDT and Circle’s USDC continue to be used the most for trading and settlements.

Yet, Japan’s attempt to launch a regulated yen-backed token may signal the way toward increased regional adoption in Asia, where dollar-denominated stablecoin alternatives are being monitored closely.

Regulated Path Offers Predictability

JPYC’s approval would highlight Japan’s stricter but clearer approach compared to many other countries.

Analysts say the framework gives companies more certainty as they test blockchain-based settlement systems without fear of regulatory ambiguity.

According to estimates, the global stablecoin market could swell to nearly $4 trillion by 2030, more than 10 times its current size.

And if yen-pegged instruments, such as JPYC, gain traction, they could capture some of that growth and resonate with Asian investors looking for alternatives to dollars.

The Japanese move also comes as governments across the globe heighten their monitoring of stablecoins due to fears about financial stability.

Featured image from CNN, chart from TradingView

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