In today's crypto news, we see a fascinating convergence of the physical and digital worlds, as Hï Ibiza launches what it claims to be the world's first permanent art gallery within a nightclub. This development is part of a broader trend to bring digital and NFT art into physical venues, a movement that may have significant implications for the way we perceive and interact with art in the future.
Meanwhile, Chris Torres, the creator of the Nyan Cat meme, has expressed reservations about meme coins despite earning significant royalties from them. Torres's cautious stance highlights the need for careful navigation in the crypto space, especially when it comes to the often chaotic and potentially damaging world of meme coins.
In the institutional arena, Coinbase's plan to raise $2 billion through convertible notes signals a strategic move to bolster its position amid a 25% revenue drop in Q2. The company's decision to roll out decentralized exchange trading in its app for U.S. users is a clear response to the disruption caused by decentralized exchanges and ETFs.
In other news, Two Seas Capital's opposition to a $9 billion all-stock sale to CoreWeave underscores the importance of fair valuation and shareholder rights in the rapidly evolving crypto mining sector.
Finally, Bitcoin veteran Tuur Demeester's prediction of a significant bull run for Bitcoin, potentially reaching above $500,000 per BTC, serves as a reminder of the high stakes and potentially high rewards in the crypto market. However, it's crucial to remember that such predictions should be treated with caution and not taken as investment advice.
In conclusion, the crypto landscape continues to evolve at a rapid pace, with developments in the art world, institutional strategies, and market predictions all playing a role in shaping the future of this exciting and unpredictable space. As always, it's important for legal and financial professionals to keep a close eye on these developments, and to approach the crypto market with a well-informed and strategic mindset.
The following article summaries have been sourced from Decrypt, CryptoSlate, NewsBTC, and Crypto Briefing. Each summary includes a direct link to the original source.
Hï Ibiza, in collaboration with The Night League and W1 Curates, has launched what is claimed to be the world's first permanent art gallery inside a nightclub. The gallery, which blends nightlife with digital art, features a variety of installations, including augmented reality murals, large-scale sculptures, and mirrored LED gallery walls. The exhibition lineup, which includes both digital and physical works, changes every two weeks, with some pieces available for purchase.
The gallery's launch is part of a broader movement to bring digital and NFT art into physical venues. The inaugural exhibition includes a mural by British graffiti artist Mr Cenz, sculptures by British graphic designer KidEight, and a six-foot green gummy bear by American street artist WhIsBe. Other featured artists include Annibale Siconolfi, Ash Thorp, Beeple, Mad Dog Jones, Six N. Five, and Shiro. The gallery space, designed by W1 Curates, adapts to each artist's color palette using large-scale projections and immersive lighting. The launch also includes talks by various artists and industry figures, followed by a DJ set.
Chris Torres, the creator of the popular internet meme Nyan Cat, has expressed his reservations about meme coins, despite earning nearly $706,000 in royalties from tokens launched on the Bags platform. Torres views the meme coin space as the "wild west" and has no intention of endorsing any tokens. He has instead chosen to focus on his art career, which spans over 15 years. Despite his cautious stance, Torres has acknowledged the financial support he has received from the platform, stating that the funds will significantly assist his family.
Torres has clarified that his acceptance of the funds does not equate to endorsing any token or platform. He is also not comfortable with creating an official token. He believes that while the coin space can be profitable and exciting, it can also be chaotic and potentially damaging if mishandled. Torres has been more fulfilled by his art and intends to continue focusing on it. He has been involved in the crypto space for almost five years, and it has been a life-changing experience for him. Despite the current popularity of meme coins, Torres still believes that NFTs are a more natural fit for art.
Coinbase, the San Francisco-based crypto exchange, is planning to raise $2 billion through convertible notes. The funds will be used for general corporate purposes and acquisitions of other companies, products, or technologies. This move comes in the wake of a 25% revenue drop in Q2 that has raised concerns among analysts. Some believe that the company's retail trading business is being disrupted by decentralized exchanges and ETFs. In response, Coinbase has rolled out decentralized exchange trading in its app for U.S. users. However, analysts have expressed disappointment that subscriptions and services, which cover premium Coinbase One memberships, stablecoin revenue, staking, and custody services, did not contribute more to the company's revenue.
In other news, Two Seas Capital, the largest active shareholder of Bitcoin miner Core Scientific, is opposing a $9 billion all-stock sale to CoreWeave. The firm, which holds a 6.3% stake in Core Scientific, believes the offer undervalues the company. Two Seas has invested heavily in Core Scientific due to its potential to build high-performance computing infrastructure at scale, which is crucial for the artificial intelligence boom. The firm argues that the deal unfairly favors CoreWeave at the expense of Core Scientific shareholders. A vote on the sale is expected to take place before the end of the year.
Meanwhile, Block Inc. added 108 Bitcoin to its corporate treasury in Q2, bringing its total holdings to 8,692 BTC, worth approximately $1 billion. The company, led by CEO Jack Dorsey, a long-time Bitcoin enthusiast, has seen significant paper gains of 273.29%. Block Inc. also enables Bitcoin purchases through its Cash App, which generated $2.14 billion of the company's $6 billion Q2 revenue. However, this represents a slight slowdown from Q1, and the company will need to see a significant increase in the latter half of the year to top its 2025 Bitcoin revenue. Dorsey hinted at upcoming news regarding Proto, the company's Bitcoin mining initiative.
A new report from Bitcoin veteran Tuur Demeester and Adamant Research suggests that Bitcoin is currently in a "quiet strength" phase, a mid-cycle stage that could lead to one of the most significant bull runs in its history. The report, titled 'How to Position for the Bitcoin Boom', projects a potential 4–10x price appreciation from current levels, implying targets above $500,000 per BTC in the coming years. This prediction is supported by several indicators, including on-chain trends showing a deep conviction among experienced holders. Larger investors, or "whales", are holding onto their Bitcoin, and there is no sign of large-scale capitulation so far in 2025, a behavior typically associated with market peaks.
The report also outlines potential catalysts for a correction but sees limited risk of them derailing the bull market. For instance, a major hack could dent confidence, but past examples have barely impacted the BTC price. Additionally, a significant portion of the Bitcoin supply is held by Coinbase, posing a centralization risk. However, ETF issuers are diversifying their custody options, and the current U.S. administration, which is actively integrating Bitcoin into its financial policy, has a low probability of custody seizures. The report also predicts that Bitcoin will resume outperforming commodities and inflation over the longer term, even if a macro crash causes short-term volatility.
Demeester and Adamant Research recommend holding Bitcoin exclusively, avoiding "vastly inferior" projects that lack its network effect, security model, and monetary purity. They compare Bitcoin's role to the base layer of the internet, predicting that rivals like Ethereum, Ripple, and Cardano will lose relevance over time. The report singles out "long-term store of value" demand as the core engine of Bitcoin's current and future growth, driven by factors such as persistent inflation, fiscal deficits, and the diminishing appeal of real estate as a hedge. The report also highlights the accelerating U.S. adoption of Bitcoin, spurred by pro-Bitcoin policies from the Trump administration. This U.S. stance is pushing other nations to explore their own Bitcoin strategies, causing a "global ripple effect".
President Donald Trump recently issued an executive order aimed at halting what his administration perceives as unfair banking discrimination against the cryptocurrency sector. Caitlin Long, founder and CEO of Custodia Bank, has provided insight into the order's implications. One significant aspect of the order is the appointment of an independent overseer, the Small Business Administration (SBA), to monitor debanking issues. This move indicates a lack of confidence in existing federal banking regulators, such as the FDIC, the Federal Reserve, and the Office of the Comptroller of the Currency (OCC), to address political and unfair debanking practices.
Kelly Loeffler, a known supporter of Bitcoin and the broader crypto industry, has been chosen by President Trump to lead the SBA. Loeffler's appointment is seen as a strong statement in the crypto community, given her previous role as CEO of Bakkt, a bitcoin futures platform for institutions. The executive order broadly defines "politicized/unlawful debanking", focusing on "lawful business activities" rather than specifying any particular sector. This means banks can no longer refuse service to a business simply because it is a crypto firm, provided it is otherwise compliant. The order targets not only crypto companies, but any lawful firms that may face political discrimination. Long suggests that the order's success will be determined by whether banks that have previously debanked crypto firms, such as Custodia, are forced to reinstate them.
The cryptocurrency market is buzzing with activity as Ethereum (ETH) and smaller cap coins such as Solana (SOL), Dogecoin (DOGE), and Binance Coin (BNB) post significant gains. Ethereum has seen a surge of over 20% in the past week, with Chainlink's LINK token up 30% in the same timeframe. This has led to speculation that the much-anticipated altcoin season may have finally arrived. However, this year's alt season may differ from previous ones, with some experts suggesting that only select altcoins with strong narratives and revenue sharing will outperform.
Despite Bitcoin's steady climb in 2025, reaching an all-time high of approximately $122,838 in July, altcoins have largely underperformed. This was particularly evident with Ethereum, which led to divisions within its community. However, Ethereum's recent surge, which has seen its price increase by more than 50% in a month, has brought renewed optimism. Even Arthur Hayes, former BitMEX CEO, who had previously sold 2,373 ETH coins predicting near-term headwinds, has admitted to his mistake and repurchased his holdings. As Bitcoin's dominance drops to 59.2%, experts are watching to see how long this alt season may last and what Bitcoin's next move will be.
As of August 9, 2025, Ethereum is ranked #2 by market cap, with a price increase of 7.48% over the past 24 hours. The total crypto market is valued at $3.94 trillion, with a 24-hour volume of $170.51 billion. Bitcoin dominance stands at 59.18%.
Ethereum's recent price rally has significantly impacted Bitcoin's dominance in the crypto market. This shift represents one of the most substantial movements in the crypto space in recent months. Despite both assets registering growth, Peter Schiff, a long-time crypto skeptic and gold advocate, made it clear that he would choose Bitcoin over Ethereum if forced to pick. Ethereum's surge came after Schiff had been advising investors to transfer their Ethereum to Bitcoin. Although this strategy initially seemed successful, Ethereum's late-week surge closed the gap.
Ethereum surpassed the $4,000 mark in recent trading sessions, reaching a high for 2025. This price action was fueled by whale transactions and increased derivatives trading. Volumes and open interest have also risen, indicating healthy speculative demand. Ethereum even surpassed Bitcoin's percentage appreciation in the previous week, further boosting its popularity. Despite Ethereum's rally, Bitcoin has maintained its position as the largest cryptocurrency by market capitalization and the most widely adopted by institutions. Bitcoin is still trading above $100,000, supported by spot Bitcoin ETF inflows and corporate treasury buying. However, Bitcoin's market share has dropped to 59%, a decrease of 4.90% from the previous month.
Ethereum's market share has grown to 12%, up 3.25% in the same period, while altcoins combined have increased their share to 25%, a gain of 1.50%. Bitcoin dominance hit an annual high of 65% on June 27, 2025, then retreated in the following weeks. The year low hit 53% during December 2024, indicating that current levels are still much higher than that low but are trending downwards. Ethereum has continued to consolidate more, nearing the top of its yearly range. Whether it holds there or not will depend on institutional positioning, macro trends, and continued trading momentum. Despite his criticism of both, Schiff made it clear that he would still choose Bitcoin over Ethereum if threatened.
The market presence of XRP, a leading cryptocurrency, is gaining momentum in 2025, with technical analysis indicating a significant divergence from Bitcoin and Ethereum. Recent market structure shifts and technical analyses suggest that XRP is following its own bullish trajectory. The dominance level of XRP has been on the rise over the past few months. Technical analysis of the XRP/BTC pair and market cap dominance reveals a breakout that could set the tone for XRP in the upcoming weeks and months, even as it contends with an important short-term support level at $3.22.
Crypto analyst Dark Defender has noted that XRP has been mostly outperforming Bitcoin since late 2024 and into 2025. This trend is evident in the XRP/BTC 3-month candlestick price chart, which shows a decisive breakout above a long-standing downtrend resistance trendline in December 2024. Despite Bitcoin reaching multiple all-time highs in 2025, the XRP/BTC pair has maintained strength above this trendline resistance, indicating a prolonged period of relative outperformance. The analyst suggests that the decoupling has already begun, meaning XRP is now following its own unique path. If this trajectory continues, the pair could climb towards higher targets, which would be positive for the price of XRP and potentially signal an altcoin season.
However, while the long-term outlook for XRP is bullish, the short-term picture shows XRP currently undergoing a pullback after briefly touching $3.38 on August 8. Analyst CasiTrades noted that this retracement is now approaching an important support zone between $3.21 and $3.22, which also coincides with the 0.382 Fibonacci retracement level. This zone is significant as it aligns with a key backtest area, making it a crucial point for preserving the bullish structure. The analyst suggests that the selloff may be a calculated liquidity grab to shake out weak holders before the next leg up. If XRP can hold above $3.22, it could maintain confidence in its upward trajectory. If XRP does break above $3.22, the next important support level to hold is at $3.17.
Ethereum's recent price surge has propelled one of its co-founders, Vitalik Buterin, back into the billionaire club, based on on-chain valuations. According to Arkham, wallets associated with Buterin currently hold approximately 240,042 ETH, equating to an on-chain value of around $1.04 billion at recent prices. These wallets also contain smaller stakes in tokens such as AETHWETH, White, Moodeng, and WETH. However, this valuation is a snapshot based on publicly visible ledger holdings and does not account for any off-chain assets or tax liabilities.
Ether's value climbed by 6.20% on Saturday, breaking the $4,300 level for the first time since December 2024, with Nansen data placing Ether at around $4,250 at the time of reporting. Market analysts have noted that if Ether reaches $4,500, approximately $1.35 billion of short positions could be at risk, potentially leading to a short squeeze. Furthermore, Arkham reports that ETF activity directed $461 million to ETH compared to $404 million to BTC over five trading days, with US-based spot Ether ETFs recording net inflows of $326 million, compared to $253.2 million for Bitcoin. This steady flow of investment is driving demand for spot ETH and attracting close attention from institutions and traders.
Buterin first became an on-chain billionaire at the age of 27 in May 2021, when Ether was trading above $3,000 and his holdings were approximately 333,500 ETH, worth about $1.029 billion at the time. This followed a significant increase in Ether's value from around $700 at the start of 2021. In a recent interview, Buterin cautioned against over-reliance on large treasuries and borrowing within the ecosystem, warning that such practices could potentially cause significant damage to ETH.
El Salvador's Legislative Assembly has approved a new law permitting investment banks to offer Bitcoin and other digital asset services to sophisticated investors with a minimum of $250,000 in liquid assets. The law, introduced last year, aims to establish a private investment bank capable of handling Bitcoin transactions, diversifying funding sources for investors, and enabling deposits, lending, and broader financial services in Bitcoin and USD. The law stipulates that investment banks must maintain a minimum share capital of $50 million and operate separately from commercial banks. They can also apply to become digital asset service providers, issuers, and Bitcoin service providers.
The law is designed to attract international private capital, financial groups, and wealthy individuals to use El Salvador as a base for regional operations. It restricts clients to sophisticated investors, defined as individuals or entities with extensive market experience, the capacity to handle complex financial risks, and a minimum of $250,000 in liquid assets. These assets can be in the form of Bitcoin, treasury bonds, tokenized products, gold, or cash. The law allows investment banks to carry out a range of operations, including bond issuance, loan granting, foreign currency transactions, and complementary services. The Central Reserve Bank will regulate the new banks, setting standards for capital, liquidity, risk management, and digital asset operations, while the Superintendency of the Financial System will oversee compliance, transparency, and investor protection.
Fundamental Global, a Nasdaq-listed financial services provider, has filed a $5 billion shelf registration with the US Securities and Exchange Commission (SEC) to support its Ethereum treasury strategy. The company, which will soon be renamed FG Nexus, is aiming to become the world's largest corporate holder of Ethereum, with a targeted 10% stake in the network. This move would place Fundamental Global among the largest corporate holders of Ethereum, alongside BitMine and SharpLink, which hold $3.5 billion and $2.2 billion respectively.
The shelf registration, one of the largest in the digital asset treasury space, includes an "at-the-market" prospectus covering up to $4 billion in common stock sales. This structure provides Fundamental Global with the flexibility to raise funds over time, enabling the company to act swiftly when market conditions are favorable. The remaining capacity could be issued as preferred stock, debt, or other securities. The company's strategy is to capture multiple value drivers, including Ethereum price appreciation, staking rewards, and exposure to tokenized real-world assets built on Ethereum. Fundamental Global shifted its focus to Ethereum in late July with a $200 million private placement primarily aimed at purchasing Ethereum as its primary treasury reserve asset.
Bo Hines, the Executive Director of the White House Crypto Council, has announced his resignation after eight months in the role. Hines, appointed by Trump last December to lead the Presidential Council of Advisers for Digital Assets, is set to return to the private sector, but has committed to continue supporting the crypto ecosystem. During his tenure, Hines oversaw several initiatives, including the Crypto Summit, Genius Act, and Digital Assets Report, and was praised by White House AI and crypto czar David Sacks for his contributions.
Hines' deputy, Patrick Witt, is expected to take over as Executive Director. Witt, along with Harry Jung, the CFTC’s senior policy adviser on crypto, DeFi, and digital assets, will be responsible for implementing the Crypto Council’s recommendations and advancing the Clarity Act. Hines' term was marked by his efforts to position the US as the "crypto capital of the world," promoting a pro-innovation regulatory agenda, coordinating blockchain policy across federal agencies, and advocating for the creation of a national Bitcoin strategic reserve. Despite some criticism over the slow progress and lack of transparency of the national Bitcoin reserve plan, Hines is recognized for setting a strategic direction and establishing policy groundwork for ongoing federal crypto initiatives.
