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Crypto

Ethereum Outperforming Bitcoin: Crypto Godfather Michael Terpin

by admin August 20, 2025

Ethereum prepares to outperform Bitcoin in this cycle: Twerpin
Spot Bitcoin ETFs reach new ATH

Michael Twerpin, one of the earliest crypto thought leaders and influencers, whom CNBC has named the “Crypto Godfather,” has addressed the community, talking about the two largest cryptocurrencies — Bitcoin and Ethereum.

In particular, Twerpin in his tweet highlighted a massive surge in Ethereum ETF inflows that have been taking place recently.

Ethereum prepares to outperform Bitcoin in this cycle: Twerpin

Twerpin mentioned the massive inflows into spot Ethereum ETFs this August, when they reached an all-time high of $1 billion for the first time in history on Aug. 11. The Ethereum price also continues to grow; by now, it has surpassed $4,200, while Bitcoin has declined from the recent all-time high of $124,000 and is now changing hands below $114,000.

The Crypto Godfather stated that Bitcoin is consolidating, while Ethereum ETFs are increasing their holdings, calling this process “textbook cycle rotation dynamics.” He believes that financial institutions are now embracing “merge economics + DeFi yields.” And this, in his view, is a “strategic positioning for Ethereum’s relative outperformance in late Supercycle.”

Record $ETH ETF inflows while $BTC consolidates = textbook cycle rotation dynamics. Institutions front-running merge economics + DeFi yields. Strategic positioning for Ethereum’s relative outperformance in late Supercycle.

— Michael Terpin (@michaelterpin) August 20, 2025

Spot Bitcoin ETFs reach new ATH

According to on-chain data agency CryptoQuant, spot Bitcoin exchange-traded funds have hit a new historic peak in BTC holdings this week. In particular, this happened thanks to the two largest ETFs — BlackRock’s IBIT and Fidelity’s FBTC.

BlackRock & Fidelity Drive ETF Holdings to 1.25M BTC ATH

“U.S. Bitcoin spot ETFs have reached a historic milestone. As of August 17, 2025, these funds collectively hold 1.25 million BTC, the highest level ever recorded” – By @CryptoOnchain pic.twitter.com/woouD3F7sS

— CryptoQuant.com (@cryptoquant_com) August 20, 2025

The aforementioned data source has reported that, as of Aug. 17, Bitcoin ETFs hold a whopping 1.25 million Bitcoin. This is the highest level that has ever been recorded in these ETFs. A total of 1.25 million BTC is valued at $1,422,460,000 in fiat.

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August 20, 2025 0 comments

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Federal Reserve Governor Calls For Regulators To Embrace Crypto

by admin August 20, 2025

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Federal Reserve (Fed) Governor Michelle Bowman is urging US regulators to abandon their “overly cautious mind-set” regarding cryptocurrencies, blockchain technology, and artificial intelligence (AI).

Speaking at the Wyoming Blockchain Symposium, Bowman emphasized the need for a proactive approach to adapt to emerging technologies, marking a departure from the more conservative stance of previous regulatory bodies.

Bowman Advocates For Flexible Oversight

Bowman, who was nominated to the Federal Reserve Board by President Donald Trump in 2018 and appointed as Vice Chair for Supervision earlier this year, stated, “Despite this past inertia, change is coming.”

She underscored the importance of choosing to embrace this change and creating a regulatory framework that is both reliable and efficient. “We must ensure safety and soundness while incorporating the benefits of speed and efficiency,” she asserted.

The choice is clear from a regulator’s perspective: we can either stand still and let new technology bypass the traditional banking system or help shape its future.

A key topic in her address was the recently passed GENIUS Act, which regulates stablecoins. This legislation, signed into law by President Trump, has positioned stablecoins at the forefront of discussions about the future of the financial system.

According to Bowman, dollar-pegged cryptocurrencies have the potential to disrupt traditional payment infrastructures while offering new opportunities for the banking sector.

In addition to discussing stablecoin regulation, Bowman revealed that she is working on plans to adjust banks’ regulatory commitments according to their size and complexity.

Fed’s Discontinuation Of Crypto Oversight Program

The Federal Reserve also disclosed last week the discontinuation of its “novel activities” supervision program, which was designed to monitor banks’ interactions with the cryptocurrency and fintech sectors.

This program, launched in 2023, faced criticism for imposing significant restrictions on banks engaging with digital assets. The Fed has determined that such specialized oversight is no longer necessary, citing an improved understanding of the risks involved and how banks can effectively manage these challenges.

As reported by Bitcoinist, the central bank’s move is part of a broader effort to align with President Donald Trump’s vision of making America the “crypto capital of the world.”

By incorporating digital asset oversight into its conventional bank supervision framework, the Federal Reserve aims to foster an environment that supports innovation in the financial sector.

Speculation about Bowman’s future role has also emerged, with her name mentioned as a potential successor to current Fed Chair Jerome Powell when his term concludes in May 2026. However, during a recent Bloomberg interview, she deflected questions about her aspirations for that position.

Governor Bowman’s remarks and the regulatory changes she advocates reflect a pivotal moment for the US financial landscape, as regulators seek to balance innovation with the need for safety and stability in the banking system.

The daily chart shows the total crypto market cap at $3.76 trillion. Source: TOTAL on TradingView.com

Featured image from DALL-E, chart from TradingView.com

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August 20, 2025 0 comments

Crypto Trends

UK BTC ETNs Are a Turning Point for Britain’s Role in Crypto, Industry Participants Say

by admin August 20, 2025

After four years in the wilderness, bitcoin

exchange traded notes (ETN) are set to return to London and the change could prove more significant than many expect.

Starting Oct. 8, crypto ETN products, which allow retail investors to gain exposure to cryptocurrencies without buying the tokens themselves, will become available after being banned by the Financial Conduct Authority (FCA) in January 2021. The regulators argued at the time that extreme volatility, susceptibility to fraud and the difficulty of valuation made them too risky for retail investors.

But the ban also left the U.K. lagging behind developments elsewhere. The U.S. spot exchange-traded funds have been a resounding success, with more than $65 billion dollars flowing into bitcoin and ether (ETH) ETFs since their inception in January last year, data from SoSoValue show. European investors also have access to a range of exchange-traded products. U.K. investors were forced to look abroad for regulated exposure, often turning to Strategy (MSTR) stock as a proxy.

“The importance of bitcoin exchange traded notes coming to London is being underestimated,” Charlie Morris, the founder of digital asset investment firm ByteTree, said in an interview. “London is the world’s second-largest financial center, and many funds have touch points with London, whether it be custody, trading, legal or settlement.”

The ban, for example, locked products complying with UCITS, the European framework for regulated mutual funds and ETFs, from accessing crypto if they wanted to have contact with the London-based financial system.

“This will change. Bitcoin is about to be opened up to the global fund market, and there will be legal clarity. This could be as important as the USA launches last year, and possibly more so over time. Sustained demand for bitcoin remains underpinned for years to come through exchange traded notes,” Morris said.

The reversal signals a recalibration. Britain, once an early crypto hub with initiatives from then Chancellor Rishi Sunak and firms like Jersey-based CoinShares, is moving to reassert relevance. Industry figures such as former Chancellor George Osborne, who is now an adviser to Coinbase, have warned that London risks falling behind if it does not embrace innovation.

“The Financial Conduct Authority’s reversal signals more than a rule change. It is a clear sign that the winds are shifting in the U.K.’s financial landscape, with policymakers now keen to keep the country relevant in a fast-evolving global market,” said Bitcoin OG Nicholas Gregory.

Even so, the complex structure of the country’s investment-advice industry may mean take up is slower than proponents assume, said Peter Lane, CEO of Jacobi Asset Management. Just because the products are legal, doesn’t mean they will be offered to clients.

“The U.K. adviser network is highly fragmented, with IFAs [independent financial advisers], restricted and tied advisers all operating under different models,” he said. “It will take time for firms across these groups to evaluate the implications of the crypto ETN ban being lifted, assess suitability frameworks, and build the necessary due diligence processes before they are in a position to consider offering or recommending such products to clients.”

UPDATE (Aug. 20, 07:48 UTC): Adds wider unbanning of crypto ETNs in second paragraph.

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August 20, 2025 0 comments

GameFi Guides

CFTC Wins Summary Judgment in $228M Crypto Ponzi Case

by admin August 20, 2025

In brief

A federal judge ordered Eddy Alexandre and EminiFX to pay $228.5 million in restitution to victims of a crypto Ponzi scheme that promised fake weekly returns of 5% to 9.99% using nonexistent “AI trading technology.”
Alexandre exploited his position of trust within Long Island’s Haitian community and his own church congregation to recruit over 25,000 investors between September 2021 and May 2022.
The CFTC’s civil victory follows Alexandre’s July 2023 criminal sentencing to nine years in prison, with court-appointed receivers already distributing recovered funds to defrauded investors since January 2025.

A federal judge has ordered Eddy Alexandre and his company EminiFX to pay $228.5 million in restitution to investors who lost money in what authorities called a ‘brazen’ crypto Ponzi scheme that bilked over 25,000 people out of more than $248 million.

U.S. District Judge Valerie Caproni granted summary judgment Tuesday in favor of the Commodity Futures Trading Commission in its civil enforcement action against Alexandre.

The ruling comes after Alexandre was already sentenced to nine years in federal prison last July for his role in operating the fraudulent EminiFX trading platform.

Alexandre, who represented himself, opposed the CFTC’s motion but failed to present evidence disputing the fraud claims.

The CFTC set restitution based on investor contributions minus withdrawals, with Judge Caproni adding $15 million in disgorgement, offset by restitution payments.

“Fraud persists, now often cloaked in high-tech buzzwords like AI and crypto,” Even Alex Chandra, partner at IGNOS Law Alliance, told Decrypt, adding how “rigorous verification is essential” for ventures promising outsized returns.

“Groups with limited financial literacy are prime targets,” he added, making investor education crucial for community protection. “No matter how trendy the technology, labels like AI or crypto do not prevent fraudulent activity.”

U.S. Attorney Damian Williams previously called Alexandre’s conduct “brazen,” noting he exploited trust in his church and Haitian community to draw in investors.

A history of fraud

Federal prosecutors first brought charges three years back, when Alexandre was arrested for commodities and wire fraud after soliciting $59 million from early investors.

Alexandre operated EminiFX from September 2021 through May 2022, promising investors “guaranteed” weekly returns of 5% to 9.99% through automated crypto and forex trading using what he called a “trade secret” technology dubbed “Robo-Advisor Assisted Account (RA3).”

EminiFX lost money during 24 of its 30 weeks of operation, and even in its best week, when Alexandre reported returns of 9.98%, the actual return was just 2.28%.

“The weekly figures [he] provided were not based on investment returns,” Alexandre admitted in a criminal sentencing letter.

Prosecutors said Alexandre diverted at least $15 million to personal accounts, spending on luxury cars, including a BMW and a Mercedes-Benz.

“Alexandre’s guilty plea in the Criminal Action prevents him from denying liability,” the court determined, applying the doctrine of collateral estoppel, which prevents defendants from re-litigating issues already decided in prior proceedings.

An equity receiver appointed by the court has been overseeing asset recovery efforts, with distributions to defrauded investors already underway since January 2025.

The case remains open as recovery efforts continue.

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August 20, 2025 0 comments

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Trump Family Expands Crypto Bets as Thumzup Pivots Into Dogecoin Mining

by admin August 20, 2025

Thumzup Media Corp. (TZUP), which counts Donald Trump Jr. as a large shareholder, said it will acquire Dogehash Technologies, Inc. in an all-stock deal, pivoting from digital marketing into industrial-scale crypto mining

Under the agreement, Dogehash shareholders will receive 30.7 million Thumzup shares, according to a Tuesday release, valuing the transaction at $153.8 million, based on the shares’ closing price. The combined company will rebrand as Dogehash Technologies Holdings, Inc. and list on Nasdaq under the ticker XDOG, pending shareholder approval later this year.

Dogehash operates about 2,500 Scrypt ASIC miners across renewable-powered data centers in North America, with plans to scale up further in 2026. Unlike firms that pad their balance sheets by simply buying coins, Dogehash has invested in its own infrastructure, giving it direct exposure to dogecoin

and litecoin block rewards at a lower cost base.

The deal comes on the heels of Thumzup’s $50 million stock offering in July, earmarked for mining expansion and digital asset accumulation. The company says it will also use Dogecoin’s DogeOS layer 2 to stake in DeFi products, aiming to boost miner returns beyond standard rewards.

This new deal adds to the Trump family’s expanding crypto empire. Eric Trump and Donald Jr. launched American Bitcoin earlier this year with Hut 8, which has over 60,000 miners.

Meanwhile, World Liberty Financial, another Trump-backed venture, struck a $1.5 billion deal with Nasdaq-listed ALT5 Sigma to inject its WLFI token into the firm’s treasury.

Thumzup stock fell 41% to $5.01 on Tuesday.

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August 20, 2025 0 comments

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SEC Boss Calls for Protecting Crypto Markets Against ‘Regulatory Mischief’

by admin August 20, 2025

A new day for crypto
Future-proofing crypto industry

U.S. Securities and Exchange Commission Chair Paul Atkins has stated that the agency must craft a framework that would protect cryptocurrency markets against regulatory mischief in the future.

“I look forward to working with my counterparts across the Administration and Congress to get the job done,” Atkins stressed.

As reported by U.Today, Atkins stated that the agency was mobilizing all of its divisions in order to be able to achieve cryptocurrency dominance while also stressing that he was looking forward to more progress in Congress when it comes to cryptocurrency-focused legislative efforts.

A new day for crypto

During a recent appearance at the 2025 Wyoming Blockchain Symposium, which is taking place in Jackson Hole, Atkins stressed that it is “a new day” for the cryptocurrency industry.

“You know, the lawfare that was being waged over the last few years is, you know, even more than I imagined, he stressed.

Atkins has recalled that the SEC went from a “head-in-the-sand” approach, hoping that crypto would just go away, to active regulation by enforcement under Gensler.

Now, however, the SEC is embracing innovation. “We want to embrace innovation and, historically, the SEC, frankly, has not shunned innovation,” Atkins added.

Future-proofing crypto industry

Atkins has added that there are a lot of questions that have to be answered, stressing the importance of the recently passed GENIUS Act, which brings much-needed clarity to the stablecoin sector.

At the same time, he has stressed the need for future-proofing the industry from regulatory overreach, stressing that things will be different five or ten years from now.

“So, all I’m pleading for is, you know, flexibility so that we can keep the regulatory scheme adaptable to changes in the marketplace and technology as we go forward,” he added.

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August 20, 2025 0 comments

Crypto Trends

Publicly-Listed AMTD Group Wants Investors’ Crypto in Equity Swap Program

by admin August 20, 2025

In brief

The group said the program aims to diversify its business, believing it would serve as a bridge between crypto and the NYSE.
AMTD plans to use their media, hospitality, and education assets to offer asset-allocation support, VIP experiences, and financial education.
All three are micro to small-cap companies, with the largest running at about $509 million.

On Tuesday, three affiliated NYSE-listed companies under AMTD Group proposed a crypto-for-stock conversion program that would let holders swap Bitcoin, Ethereum, USDT, Binance’s BNB, and USDC for newly issued shares under the exchange.

AMTD IDEA (AMTD), AMTD Digital (HKD), and The Generation Essentials Group (TGE) formed the program with pricing that would be set by mutual agreement at prevailing market values, and allocations could be split across the three issuers.

Framing the plan as a “conduit and effective means” for portfolio diversification, the group said the issuances would “serve as a bridge connecting the world of crypto assets with one of the world’s leading stock exchanges.”

To flesh out what it touts as “adjacent offerings,” the group points to its media, hospitality, and education footprint as the delivery base.

Headquartered in France with presence in Singapore, AMTD runs digital media, marketing, investments, and hospitality/VIP services, while TGE owns L’Officiel, a French fashion magazine, and The Art Newspaper. It also operates entertainment projects and premium properties.

The group claims these assets will be used to help crypto holders “facilitate and better their experiences,” packaging asset-allocation support, leisure, and VIP experiences, as well as financial education.

The proposal also includes American depositary shares, which are U.S.-traded shares issued by a depositary bank that represent a specified number of a foreign issuer’s ordinary shares, among the securities that could be issued to crypto holders looking to convert their assets.

It’s worth noting that, by market capitalization size, the three are micro to small-cap issuers. AMTD has about $176 million, HKD has roughly $509 million, and TGE has $161 million in market size, per their respective data dashboards on Google Finance.

Of the three, only AMTD’s stock closed positively at 1.9%, with the other two down by 3.5% and 6.2% respectively, following the announcement.

The announcement disclosed no launch timeline, geography, investor eligibility, issuance caps, lockups, KYC or custody arrangements, or settlement mechanics, and stated it was not an offer or solicitation.

Decrypt reached out to the group for comment on whether the issuances would be registered, conducted as private placements, or offshore transactions, and whether U.S. persons would be eligible.

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August 20, 2025 0 comments

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SEC Chair Atkins Says Few Crypto Tokens Are Treated as Securities

by admin August 20, 2025

On Tuesday, August 19, 2025, U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins said that a very small percentage of crypto tokens are treated as securities. Speaking at the Wyoming Blockchain Symposium, Atkins emphasized that the SEC is taking a fresh approach to digital assets, saying most tokens are not necessarily securities, financial instruments regulated under U.S. law.

“From the SEC’s perspective, we will plow forward on this idea that just the token itself is not necessarily a security,” Atkins said. “Very few, in my mind, tokens that are securities, but it depends on the package around it and how it’s being sold.”

Atkins’ comments mark a major shift from former SEC Chair Gary Gensler, who labeled the “vast majority” of crypto assets as securities under the Howey test, a legal standard used to determine if an investment qualifies as a security.

Gensler resigned on January 20, 2025, paving the way for Atkins’ appointment, with Commissioner Mark Uyeda serving as Acting Chair in the interim.

Congress Pushes Crypto Market Rules

The remarks come as Congress moves to create clearer rules for digital assets. The House of Representatives passed the Digital Asset Market Clarity (CLARITY) Act in July 2025, a law designed to define and regulate U.S. crypto markets clearly.

Senate Banking Committee Chair Tim Scott indicated bipartisan support for market structure legislation when the Senate returns from recess on September 2, 2025, noting as many as 18 Democrats could join Republicans in backing the bill.

Atkins also touched upon the Project Crypto initiative of the SEC, which is supposed to create regulatory frameworks to govern companies that trade in blockchain-based tokens, protecting investors without stifling innovation in the crypto market.

This direction is an indicator of a more discriminatory regulatory approach to digital assets, which gives clarity to businesses and investors who are trying to navigate the emerging U.S. crypto market.

Also Read: SEC Extends Review of Nine Crypto ETF Filings Into October

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August 20, 2025 0 comments

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Fed’s Top Banking Regulator Floats Allowing Staff to Hold Crypto

by admin August 20, 2025

In brief

Fed Vice Chair for Supervision Michelle Bowman said staff should be allowed to hold small amounts of crypto to gain practical understanding.
Her remarks emphasized blockchain’s potential to reduce friction in asset transfers and called for legal frameworks to evolve in parallel.
Legal experts say her comments mark a regulatory shift, though some warn staff holdings could pose conflict-of-interest risks.

Federal Reserve Vice Chair for Supervision, Michelle Bowman, told a crypto conference in Jackson Hole on Tuesday that she favors allowing central bank staff to hold small amounts of crypto, an idea that, if formally proposed, could alter the Fed’s internal rules and spur debate over how the institution engages with digital assets.

The approach should consider allowing Federal Reserve staff “to hold de minimus amounts of crypto or other types of digital assets,” Bowman told audiences in prepared remarks at the Wyoming Blockchain Symposium on Tuesday.

Bowman framed the conversation as one about tokenization’s role in reducing frictions in asset transfers, highlighting how the technology could streamline ownership changes, cut costs, and expand access to capital markets.

“It is possible that we could see a ‘tipping point’ where the processes themselves are well-established, and legal frameworks have been updated to permit a wider range of activities relying on the new technology,” she explained.

A “similar challenge with blockchain technologies” is that adoption depends not only on technical progress but also on legal and regulatory frameworks keeping pace with how the systems are used in practice, Bowman noted.

“We stand at a crossroads: we can either seize the opportunity to shape the future or risk being left behind,” Bowman said.

Crypto policy and legal observers argue Bowman’s comments amount to more than industry talk, carrying weight beyond the symposium setting.

Her remarks “hint at a more open, balanced regulatory approach,” and “show the Fed moving from caution to curiosity,” which could mean U.S. regulators are leaning on “practical understanding over pure caution,” Vincent Liu, chief investment officer at Kronos Research, told Decrypt.

“Bowman’s remarks cannot be dismissed as mere rhetoric; they represent an inflection point in the U.S. regulatory approach to crypto that we can no longer avoid as a country,” Andrew Rossow, a public affairs attorney and CEO of AR Media Consulting, told Decrypt. “They challenge not only the ‘how’ but the ‘why’ of financial supervision.”

Such a stance would “necessitate rigorous legal frameworks, public debate, and more efficient legislative action to balance practical expertise with the highest standards of integrity and public trust,” Rossow explained.

Yet Rossow also cautions that Bowman’s suggestion raises questions about conflicts of interest.

“Regulators cannot realistically avoid the danger of perceived partiality or diminished public trust if staff directly hold even small amounts of speculative assets,” he said, adding that “practical exposure” and direct crypto ownership may not be the “only effective path to regulatory competence.”

Rossow argued that episodes from Enron to the Silk Road and FTX show how repeated crises expose the dangers of “blind reliance on fear of abuse,” making clear the need to reckon with their lasting significance. “The answers are right in front of us, and they’re hauntingly beautiful,” he said.

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August 20, 2025 0 comments

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Fed Official Says Staff Should Be Allowed To Hold Crypto

by admin August 20, 2025

The Federal Reserve’s top regulatory official says staff from the US central bank should be allowed to invest a small amount in crypto to help them understand the technology.

Fed vice chair for supervision Michelle Bowman said at a blockchain event in Wyoming on Tuesday that the regulator should consider allowing its staff “to hold de minimus amounts of crypto or other types of digital assets so they can achieve a working understanding of the underlying functionality.”

“We will soon be establishing a framework for supervising issuers of these assets,” she added.

“There’s no replacement for experimenting and understanding how that ownership and transfer process flows.”

Currently, most Fed staffers and their spouses are barred from owning crypto or products that concentrate on crypto, such as exchange-traded funds or shares in crypto companies.

The Fed tightened its rules on all investments in early 2022 after it was revealed that three top officials had unusual trading activity in 2020, as the regulator took action to support the US economy in the early days of the COVID-19 pandemic.

Allowing crypto could help recruitment, rulemaking

Bowman said the Fed staff investment restrictions “may be a barrier to recruiting and retaining examiners with the necessary expertise,” and easing the rules would help existing staff better understand the technology.

Michelle Bowman giving prepared remarks at the Wyoming Blockchain Symposium 2025 on Tuesday. Source: YouTube“I certainly wouldn’t trust someone to teach me to ski if they’d never put on skis, regardless of how many books and articles they have read, or even wrote, about it.”

Bowman urges Fed not to “stand still”

In her speech, Bowman said bank regulators had an “overly cautious mindset” and urged them to be less skeptical of new financial products and “recognize the utility and necessity of embracing technology in the traditional financial sector.”

She said some bankers are concerned that blockchain technology threatens traditional business models, but that technology could “change the banking system regardless of how banks and regulators choose to respond.”

“We must choose whether to embrace the change and help shape a framework that will be reliable and durable — ensuring safety and soundness and incorporating the benefits of both efficiency and speed — or to stand still and allow new technology to bypass the traditional banking system altogether,” she added.

“From a regulator’s perspective, the choice is clear.”

Related: New crypto advocacy group debuts at Wyoming summit

Bowman said she recognized the risks in adopting new technology, but those could be offset or “at least determined to be manageable when we recognize and consider the potentially extensive benefits of new technology.”

Trump’s crypto-friendly push

Bowman didn’t specify the types of crypto products or what amounts she would suggest the Fed allow, but her comments are the latest crypto-friendly remarks regulators have taken under the Trump administration.

On Friday, the Fed said it would end a supervision program for crypto and blockchain-related activities undertaken by banks, which the Biden administration set up in 2023.

Trump also signed an executive order earlier this month directing banking regulators to investigate claims of debanking made by the crypto sector and conservatives.

Trade Secrets: Ether could ‘rip like 2021’ as SOL traders brace for 10% drop

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August 20, 2025 0 comments