In the latest crypto news, Trump Media and Technology Group, with a majority stake held by former President Donald Trump, has partnered with Crypto.com to establish a $6.4 billion crypto treasury, named Trump Media Group CRO Strategy, Inc. This venture, backed by Cronos (CRO), the native coin of Crypto.com's platform, follows Trump Media's previous purchase of $2 billion worth of Bitcoin and related securities.
This move signals a growing trend of mainstream businesses and high-profile individuals embracing cryptocurrencies and blockchain technology. It also highlights the increasing institutional acceptance of digital assets, which could potentially influence regulatory approaches and market behavior.
On the regulatory front, the National Association of Attorneys General (NAAG) has issued a warning to 13 AI firms, including Meta, OpenAI, Anthropic, and Apple, demanding stronger measures to protect children from inappropriate and harmful content. This development underscores the need for robust regulatory frameworks to address the unique challenges posed by the intersection of AI and blockchain technologies.
Meanwhile, the cryptocurrency market experienced a significant downturn, with Bitcoin (BTC) falling to $108k before rebounding. Despite this, Ethereum (ETH) Exchange-Traded Funds (ETFs) saw an influx of over $1 billion in just three days. This divergence between Bitcoin and Ethereum could indicate a shift in investor sentiment and market dynamics, with potential implications for fund structuring and risk management strategies.
In other news, SharpLink has been aggressively accumulating Ethereum, purchasing 56,533 ETH at an average cost of $4,462, using $360.9 million raised through its at-the-market issuance program. This move underscores the growing institutional interest in Ethereum and the broader DeFi space, which could influence the strategic decisions of legal and financial professionals exploring the Web3 space.
Finally, rumors are circulating about a purported leaked non-disclosure agreement (NDA) that links Ripple to prominent figures and organizations such as Trump, BlackRock, and JPMorgan. While these rumors are speculative, they highlight the potential for blockchain technology to disrupt traditional sectors such as healthcare and global settlement systems, underscoring the need for legal and financial professionals to stay abreast of developments in the crypto space.
The following article summaries have been sourced from Decrypt, CryptoSlate, NewsBTC, and Crypto Briefing. Each summary includes a direct link to the original source.
Trump Media and Technology Group, in which former President Donald Trump holds a majority stake, is collaborating with Crypto.com to establish a crypto treasury backed by $6.4 billion. The treasury, named Trump Media Group CRO Strategy, Inc., will be composed of Cronos (CRO), the native coin of Crypto.com's platform and the 30th largest digital asset by market cap. This venture follows Trump Media's previous purchase of $2 billion worth of Bitcoin and related securities in July.
The treasury will be founded by Trump Media, Yorkville Acquisition Corp., and Crypto.com. It will consist of $1 billion in CRO tokens, $200 million in cash, $220 million in warrants, and an additional $5 billion equity line of credit from an affiliate of Yorkville. The 6.3 billion CRO tokens held at the treasury's launch will represent approximately 19% of the token's supply. Trump Media will also use CRO as a rewards and utility token across its Truth Social social media network and Truth+ streaming video platform. Users can earn "gems" and convert them into CRO, and in the future, the companies plan to allow Truth users to pay for subscriptions with CRO.
The cryptocurrency market experienced a significant downturn, with Bitcoin (BTC) falling to $108k before rebounding. This drop led to $758m worth of liquidations. It's the most substantial deviation from the Global M2 in two years. Despite this, Ethereum (ETH) Exchange-Traded Funds (ETFs) saw an influx of over $1 billion in just three days. HYPE, a leading Layer 1 solution, announced that buybacks would now account for 99% of fees. Meanwhile, investment firm Strategy purchased $357m worth of BTC.
In other news, Pantera is seeking $1.25 billion to establish a Solana (SOL) treasury. US banks are lobbying for amendments to the GENIUS regulation, while Sequans is planning to build a $200m BTC treasury. ETHZilla has approved a $250m share buyback, and B Strategy is planning a $1 billion Binance Coin (BNB) DAT. Unfortunately, Robinhood and Strategy missed out on the S&P 500. Bitwise has filed for a Chainlink (LINK) ETF, and Gemini has surpassed Coinbase on the app store. The chair of the Commodity Futures Trading Commission (CFTC) is set to join Moonpay. The Finance Minister of Japan suggested that cryptocurrencies could diversify portfolios. The United Arab Emirates (UAE) holds $740m worth of BTC through Citadel Mining, and $2.2 billion of tokenized gold is currently sitting on Ethereum.
The National Association of Attorneys General (NAAG) has issued a warning to 13 AI firms, including Meta, OpenAI, Anthropic, and Apple, demanding stronger measures to protect children from inappropriate and harmful content. The letter highlights the exposure of children to sexually suggestive material via "flirty" AI chatbots, stating that such conduct would be unlawful or even criminal if done by humans and is not excusable simply because it is done by a machine. The attorneys general also drew parallels to the rise of social media, criticizing government agencies for not doing enough to mitigate its negative impacts on children.
The use of AI among children is widespread, with surveys indicating that seven in ten teenagers in the U.S. have used generative AI tools. In the UK, half of online 8-15 year olds have used a generative AI tool in the previous year. This growing use has sparked concerns from parents, schools, and children’s rights groups, who point to risks ranging from sexually suggestive chatbots, AI-generated child sexual abuse material, bullying, grooming, extortion, disinformation, privacy breaches, and poorly understood mental health impacts. Meta has been particularly criticized after leaked internal documents revealed that its AI Assistants had been allowed to flirt and engage in romantic role play with children, including those as young as eight. The NAAG has expressed its disgust at this apparent disregard for children’s emotional well-being and warned that risks were not limited to Meta.
SharpLink, a firm with an increasing interest in Ethereum, has been on an aggressive Ethereum accumulation spree, as per an announcement on August 26. The company purchased 56,533 ETH at an average cost of $4,462, using $360.9 million raised through its at-the-market issuance program during the week ending August 24. This acquisition brings SharpLink's total Ethereum holdings to 797,704 ETH, valued at nearly $3.7 billion, making it the second-largest corporate holder of Ethereum, just behind Thomas Lee's BitMine. Since initiating its treasury program in June, SharpLink has garnered 1,799 ETH in staking rewards and has around $200 million in cash for future acquisitions.
SharpLink's co-CEO, Joseph Chalom, views these purchases as a testament to the company's commitment to its Ethereum-focused vision, emphasizing that the company is dedicated to enhancing shareholder value while supporting the growth of the broader network. Following this announcement, SharpLink's shares saw a 3.31% increase to approximately $20. In addition, SharpLink has filed with the US Securities and Exchange Commission (SEC) to register 3 million additional shares tied to its inducement award plan. This program, approved by the board on August 19, allows the company to issue stock to new or rehired employees as part of their compensation package, thereby aligning employee rewards with long-term shareholder value.
Trump Media Group has partnered with Yorkville Acquisition Corp., a Nasdaq-listed blank check company, to form a new entity that will focus on acquiring and holding Cronos's CRO token. The new company, named Trump Media Group CRO Strategy, will be capitalized with approximately $6.42 billion, comprised of cash, warrants, and digital assets. Ownership will be divided between Yorkville, Trump Media, and Crypto.com, who are entering as founding partners. The company plans to list on Nasdaq under the ticker "MCGA". All founding shareholders have agreed to a one-year lock-up on their holdings, followed by a three-year gradual release schedule.
Under the agreement, the new company's treasury will receive roughly $1 billion in CRO, which is about 19% of the token's market capitalization at the time of the announcement. The partners also plan to contribute $200 million in cash and another $220 million through warrant exercises. Yorkville has arranged a $5 billion equity line of credit via an affiliate, providing a mechanism for further token purchases. The company intends to stake its CRO assets to generate recurring revenue, with the goal of creating a "flywheel effect" that could potentially increase the token's value, enabling further fundraising and deeper integration across financial services. The partnership expands the connection between Trump Media and the Cronos ecosystem, with Trump Media's social media platform, Truth Social, expected to adopt CRO as its native token.
Rumors are circulating in the cryptocurrency community about a purported leaked non-disclosure agreement (NDA) that links Ripple to prominent figures and organizations such as Trump, BlackRock, and JPMorgan. The speculation suggests that the XRP Ledger could be connected to projects involving digital identity, healthcare, and global settlement systems. This conjecture is fueled by recent developments such as BlackRock's new ETF, Trump's healthcare policy initiatives, and JPMorgan's focus on digital identity, which all seem to align with the same overarching strategy.
The rumors originated from an ex-banker, known by the alias @LordBelgrave, who claimed to have leaked an NDA between Ripple and UBS. The leaked document allegedly contains a reference to "Biometric Identity Mapping", a technology that links personal identity with global financial systems, suggesting that Ripple may be developing tools that connect digital identity with payments. This is despite Ripple CEO Brad Garlinghouse's previous warnings about government control. In addition, Wellgistics Health recently announced an XRP Ledger-based payment system for 6,500 U.S. pharmacies, further supporting the rumors. JPMorgan has also emphasized the importance of digital identity as the foundation of Web3, a vision that aligns with Ripple's apparent direction.
The leaked NDA gains more significance when considered alongside recent strategic moves by global powerhouses. BlackRock's $XDNA ETF was launched on the same day as Trump's "One Big Beautiful Bill", aimed at reducing healthcare costs. Simultaneously, Trump introduced his Digital Health Tech Ecosystem, and BlackRock's ETF went live directly on the XRP Ledger. Ripple's deals in Africa and the MENA region, as well as partnerships with Chipper Cash and Onafriq, suggest a targeted global adoption strategy. These developments, combined with the rumored NDA, have led many to speculate that Ripple could play a central role in the impending convergence of identity, health, and finance sectors.
Bitcoin's price momentum is showing signs of slowing down, having retraced to the $110,000 mark, leading to concerns about a potential shift into a bearish cycle, according to a recent analysis by noted trader and analyst, CryptoBirb. The analysis suggests that Bitcoin has about 60 days of growth left, indicating that it is currently 93% into its cycle, which has lasted 1,007 days. This aligns with the ongoing Cycle Peak Countdown indicator, hinting at a critical juncture for the leading cryptocurrency as it approaches the end of its current bullish phase.
CryptoBirb's analysis also takes into account historical cycles, highlighting significant patterns that may inform future price movements. The duration of past cycles has increased from around 350 days in the early years to over 1,000 days in more recent cycles. Currently, Bitcoin's trajectory is tracking towards approximately 1,060 to 1,100 days, placing it in the final 5-8% of this current bullish cycle. This holds significant implications for the broader digital asset market. The Bitcoin Halving that took place last April is also a pivotal factor, with historical data showing that previous Halvings have led to peaks in price approximately 492 days later, suggesting a target window between October 19 and November 20, 2025.
CryptoBirb also notes that past bear markets typically last between 364 and 411 days, with average losses around 66%. If such a scenario plays out, the next bearish phase could see Bitcoin retracing towards $37,000. Despite this, on-chain metrics remain relatively healthy, with mining costs around $97,124 and no immediate signs of capitulation. The analyst advises monitoring key price levels closely in the coming weeks, as movements below $110,000 could signal a bearish trend. Despite recent outflows from exchange-traded funds, the overall market structure suggests cautious optimism. The convergence of cycle mathematics, Halving events, and historical seasonality suggests that the market could be gearing up for a significant finale in the fourth quarter.
The article titled "Bitcoin Breakdown in Motion – Bounce Trap Or Deeper Bear Market Warning?" from NewsBTC is a personal narrative from Godspower Owie, a Nigerian native who has become deeply involved in the cryptocurrency world. Owie's journey into cryptocurrency began three years ago when a friend's successful investment piqued his interest. Despite the market's volatility, Owie's passion for the field has remained steadfast, leading him to work for Bitcoinnist and NewsBTC news outlets.
Owie's story is one of dedication and ambition, with a strong belief in personal growth leading to excellence. He cherishes his time, work, family, and loved ones, and is driven by his dreams rather than illusions. He aspires to be a leader in his field, acknowledging the challenges that lie ahead but remaining undeterred. Owie's story serves as an example of the personal journeys that many embark on within the cryptocurrency landscape, driven by curiosity, passion, and the potential for significant gains.
Kanye West's Instagram account was reportedly compromised by hackers who used it to promote a fraudulent memecoin, $YZY. The incident was confirmed by the rapper, now known as Ye Ye, in a post on X. The hackers manipulated West's account to follow a fake YZY Money profile, which was promoting the counterfeit YZY coin.
This security breach occurred shortly after West launched the legitimate YZY token on the Solana blockchain and introduced a payment system called YZY Money. The token quickly achieved a market cap exceeding $400 million, only to plummet below $75 million soon after, according to GeckoTerminal. The situation is still unfolding, and further updates are expected.
MetaMask, a renowned crypto wallet provider, has launched a social login feature that allows users to create and recover their wallets via Google or Apple accounts. This development aims to simplify crypto wallet management, enhance user-friendliness, and maintain security. The new login options allow users to sign in with their familiar web2 accounts, alongside the existing 12-word Secret Recovery Phrase (SRP) method. Users can now sign in with their Google or Apple ID, create a secure password, and the SRP is automatically generated in the background. It can be recovered using the same social account credentials and password.
MetaMask has assured users that the self-custodial nature of its wallets remains unchanged. The company stated that no single entity, including MetaMask itself, can access all the components needed to retrieve the SRP. Only a combination of social credentials and a unique password can unlock the SRP on a local device. However, MetaMask has warned that password security remains paramount, as lost passwords cannot be recovered. Traditional crypto wallets require users to manage a 12-word Secret Recovery Phrase, which provides robust security but can be challenging to manage. The social login feature retains user control over digital assets while simplifying seed phrase management.
Tether's USDT, a stablecoin originally designed to help crypto traders avoid volatility, has grown into a $115 billion liquidity layer that straddles decentralized finance (DeFi) and traditional foreign exchange (FX). This development has made it impossible for managers of multi-asset portfolios to ignore USDT. Stablecoins are private currencies whose value is maintained by arbitrageurs rather than central banks. USDT's turnover on major exchanges often surpasses the spot volume of mid-tier fiat pairs, making it a quasi-dollar that trades 24/7 and settles transactions quickly. This speed and accessibility fill a gap in legacy FX, providing after-hours liquidity and the ability to trade Forex with USDT as seamlessly as with traditional currency pairs.
Portfolio managers are increasingly using USDT as a bridge between asset classes. For example, an investment desk that rebalances weekly between S&P 500 futures, spot gold, and a basket of DeFi governance tokens can use USDT to reduce settlement time, maintain dollar exposure, and avoid slippage. Parking idle cash in USDT liquidity pools can also generate mid-single-digit returns without forcing the fund to leave the crypto ecosystem. However, the use of USDT is not without risks, including concerns about reserve composition, regulatory scrutiny, and potential de-pegs. To mitigate these risks, practical safeguards include splitting stablecoin exposure across on-chain vaults with real-time monitoring, setting automated stop-losses, and maintaining sufficient bank liquidity.
Institutional desks are using USDT in innovative ways, such as synthetic carry trading. An asset manager can borrow USDT at a low-interest rate, convert it to a high-yield currency like Thai baht, and earn the spread while keeping settlement risk low. DeFi arbitrageurs are also exploiting price differences between USDT and other stablecoins to create decentralized versions of traditional FX trades. These examples underscore that USDT is not just a parking lot for funds but a deployable slice of dollar liquidity that can be used wherever global yields are most attractive.
