Welcome to Monday's Digital Assets News. Today, we see companies like Metaplanet and DV8 making strategic moves to secure their positions in the Bitcoin treasury space. Metaplanet's decision to raise $884 million in capital, despite a financing crunch, and DV8's shift towards a corporate Bitcoin treasury strategy, reflect the growing institutional interest in Bitcoin as a store of value. However, these moves also highlight the financial and regulatory risks involved in such strategies, particularly in volatile market conditions.
In the DeFi sector, Myriad's success in achieving over $10 million in USDC trading volume signals the rise of prediction markets as a new segment of DeFi. This trend could potentially transform information into a tradable asset class, opening up new opportunities for capital markets. Meanwhile, the launch of BRC-20 2.0 upgrade brings Ethereum-like features to Bitcoin, expanding the possibilities for Bitcoin-native assets and potentially sparking renewed interest in the Bitcoin token market.
In the regulatory space, the launch of World Liberty Financial's WLFI token and the expansion of its USD1 stablecoin across multiple chains, including Solana, reflect the growing acceptance of crypto assets in the traditional financial system. However, the public rivalry between Litecoin and XRP underscores the ongoing challenges in establishing legitimacy and adoption in the crypto space.
Finally, Ethereum's resilience in the face of market volatility and the ongoing rotation of capital from Bitcoin to Ethereum indicate strong underlying demand for ETH. However, Santiment's analysis suggests that Bitcoin's price may not have reached its bottom yet, pointing to the importance of monitoring social sentiment and whale transfers as key metrics in market analysis.
Overall, these developments underscore the need for legal and financial professionals to stay informed and adaptable in navigating the complex and rapidly changing crypto landscape.
The following article summaries have been sourced from Decrypt, CryptoSlate, NewsBTC, and Crypto Briefing. Each summary includes a direct link to the original source.
Metaplanet Inc., a Japanese Bitcoin treasury company, has secured shareholder approval for an $884 million capital raising plan. This comes as the firm grapples with a financing crunch, triggered by a 54% drop in its stock since mid-June. The approved proposal allows Metaplanet to sell up to 550 million new shares overseas and issue preferred stock. However, the firm's financing mechanism, known as the "flywheel," which relied on rising share prices to fund Bitcoin purchases, has slowed due to the decline in both Metaplanet's stock and Bitcoin prices.
Despite the financing challenges, Metaplanet announced during the shareholder meeting that it had acquired 1,009 BTC for approximately $112.2 million. This acquisition brings its total holdings to 20,000 BTC, making it the world's sixth-largest public Bitcoin treasury company. The company also revealed its new mission to pioneer a new theory of credit in Japan, built upon over-collateralized, absolutely scarce digital capital. However, Ray Youssef, CEO of p2p crypto app NoOnes, warned that if Metaplanet fails to raise capital, it may have to abandon its goal of owning 210,000 BTC by 2027.
Myriad, a prediction market protocol, has achieved over $10 million in USDC trading volume, with more than half a million users. The protocol aims to transform information into a tradable asset class. Loxley Fernandes, co-founder and CEO of Myriad, believes that the protocol's rapid growth is paving the way for prediction markets to evolve from a niche crypto product to a new segment of Decentralized Finance (DeFi). Fernandes asserts that Myriad's success proves that trading ideas and forecasts is not only feasible but also the next frontier for capital markets.
Established by Decrypt and Rug Radio's parent company DASTAN, Myriad launched its USDC markets in March 2025 and expanded to the Ethereum Layer-2 network Linea in July. This marked a significant step in its transformation into a multichain prediction markets protocol, designed to power a new class of DeFi products. Myriad's browser extension has been installed over 60,000 times, and users have made more than 5.4 million predictions across various categories. The protocol is also working on its consumer platform and a B2B protocol for other prediction applications. Future plans include integrations with EigenLayer and EigenCloud, the introduction of blended oracles, and a framework for ERC-PRED, a new asset class for prediction markets. Myriad aims to make prediction markets a cornerstone of global DeFi, similar to how Robinhood revolutionized stocks and securities.
The BRC-20 token standard, built directly on Bitcoin's base layer and indexers, has launched an upgrade called "BRC2.0". This upgrade integrates Ethereum Virtual Machine (EVM) functionality directly into the BRC-20 core indexer, allowing developers to deploy Ethereum-style smart contracts on Bitcoin without the need for bridges, oracles, or trusted intermediaries. This move brings programmability to Bitcoin-native tokens, transforming BRC-20 assets into interoperable instruments that can interact with EVM-compatible chains and scaling layers. The BRC2.0 upgrade was developed by Best In Slot, in collaboration with BRC20's pseudonymous creator Domo and the Layer 1 Foundation.
Since its launch in 2023, BRC-20 has seen over $3 billion in asset value traded, even without venture capital or institutional support. The new smart contract functionality expands the possibilities for Bitcoin-native assets, which until now have been primarily used for meme coins and speculative trading due to Bitcoin's limited programmability. The BRC2.0 upgrade aims to bring Ethereum's diverse application ecosystem onto Bitcoin. The integration of EVM into BRC20’s core layer means developers can now build dApps directly secured by Bitcoin, while maintaining compatibility with Ethereum tooling. This aims to combine the decentralization and security of Bitcoin with the proven virtual machine of EVM.
Asher Corson, CIO of Unbroken Chain, suggests that this upgrade could spark renewed interest in the Bitcoin token market, which has been dominated by meme coins. He believes that the programmability and DeFi capabilities of BRC-20 2.0 could potentially drive another bull run for Bitcoin assets. Unlike Runes, which is not programmable and is limited to meme coins, BRC-20 2.0 is capable of supporting a DeFi ecosystem. This places BRC-20 in a separate category and ahead of Runes in terms of capabilities.
The XRP community has responded strongly to a post made by Litecoin's official X (formerly Twitter) account, which likened the XRP token to a comet that smells like rotten eggs, urine, burning matches, and almonds. The post suggested that XRP's promotion as a banking solution misleads investors into thinking the system is more valuable than the money it transfers. Litecoin also mocked Ripple's claim that XRP could serve as a digital replacement for SWIFT, and made fun of Ripple's CEO, Brad Garlinghouse. The XRP community saw the post as dismissive and inflammatory, and some members hinted at possible legal action.
Litecoin defended its comments, explaining that they were part of a series of light-hearted "roasts" aimed at different blockchain projects. The account had previously targeted Solana and even its own ecosystem, which had drawn mixed reactions. However, the XRP post resulted in two days of intense criticism and repeated references to market cap rankings and Ripple's policy outreach. Litecoin suggested that critics were taking the remarks too seriously, emphasizing that the campaign was intended to be satirical rather than hostile. The exchange underscores the ongoing public rivalry between different projects on social media, where brand narratives and community pride often clash, shaping broader perceptions of legitimacy and adoption.
World Liberty Financial's governance token, WLFI, is set to make its debut on several of the world's largest cryptocurrency exchanges, including Binance, Upbit, Bithumb, Gate.io, KuCoin, OKX, Kraken, Bybit, Bitget, MEXC, BingX, and HTX. Until this point, WLFI was only available through private placements, which limited its accessibility to a narrow group of investors. However, market data indicates a substantial level of anticipation ahead of the listing. WLFI derivatives volume has reportedly increased by over 200% to exceed $5 billion, with open interest surpassing $800 million. If the token maintains its pre-market trading price of approximately $0.30, it will start trading with a fully diluted value of over $31 billion, placing it among the top 15 cryptocurrencies by FDV at launch.
In addition to the WLFI listing, World Liberty Financial's stablecoin, USD1, has been launched on Solana, marking the fourth network to support the asset, following Ethereum, BNB Smart Chain, and Tron. Since its introduction in April 2025, USD1 has experienced rapid growth, with its total supply reaching $2.402 billion, making it the sixth-largest stablecoin by circulation. The addition of Solana to its network reflects World Liberty Financial's strategy of distributing the stablecoin across various high-throughput blockchains. USD1 maintains a 1:1 redemption rate with the US dollar and is designed to facilitate fast, low-cost transactions across decentralized markets.
DV8, a Thai-listed firm, has announced a shift towards a corporate Bitcoin treasury and broader digital asset strategy with the appointment of Jason Fang, founding partner of Sora Ventures, as its new CEO. This move is part of a larger restructuring of DV8’s ownership and balance sheet, involving a cross-border group including Sora Ventures, UTXO Management, Kliff Capital, AsiaStrategy, Moon Inc., and Mythos Group. This group initiated an acquisition of DV8 through a voluntary tender offer in July, positioning the company to execute a Bitcoin-centric playbook for public companies in Southeast Asia.
In addition to Fang's appointment, DV8 also named Thai investor Chatchaval Jiaravanon as chairman and expanded its board with a mix of local executives and crypto operators. The company raised fresh capital through a warrant program completed in mid-July, with shareholders exercising 99.9% of available DV8-W2 warrants at 0.80 baht, adding about THB 241 million (roughly $7.4 million) and increasing cash by 38%. This capital raise allows the company to begin treasury activity and related infrastructure work under the new mandate. Fang brings with him a history of structuring listed-company Bitcoin programs around Asia, including a $150 million fund aimed at helping public companies implement balance-sheet Bitcoin strategies tailored to local market rules.
The regulatory environment in Thailand has become more favorable for companies exploring digital assets. The government has approved a five-year personal income tax exemption on crypto gains for investors, reducing friction for capital formation and potential secondary-market participation around Bitcoin-treasury equities. The securities regulator has also authorized the use of USDT and USDC in digital asset transactions, allowing stablecoin pairs on local venues and widening the toolkit for market liquidity. For DV8, the immediate focus will be on treasury governance, disclosure cadence, and the sequencing of any initial Bitcoin purchases.
Ethereum (ETH) is currently trading above $4,400, demonstrating resilience in the face of recent market volatility and selling pressure. Despite the price action entering a consolidation phase, market analysts are divided on ETH's future trajectory. Some predict a retrace below $4,000 due to weakening momentum and sustained resistance near the $4,600–$4,800 range. Others, however, are more optimistic, viewing the consolidation as a precursor to a breakout, with ETH potentially exceeding the $5,000 mark if demand remains robust.
Data from CryptoQuant reveals that despite Ethereum's ongoing correction following its recent all-time high, demand for ETH remains strong. This is evidenced by the continual decline in exchange reserves as investors withdraw their holdings, and onchain activity indicating ongoing accumulation. This divergence between price volatility and underlying demand suggests that ETH's fundamentals remain solid. Furthermore, Ethereum reserves on Binance have shown a persistent downward trend, indicating a consistent outflow of ETH from exchanges, a common sign of accumulation. This trend aligns with the broader capital rotation from Bitcoin to Ethereum that has been observed in recent weeks.
Ethereum's resilience during a corrective phase signals underlying strength, and if accumulation continues, the current consolidation period could set the stage for Ethereum's next breakout. Despite recent volatility, ETH has been consolidating after retracing from its recent all-time highs near the $4,900 region. The 50-day moving average continues to act as immediate support, aligning closely with the current trading zone. From a technical perspective, the consolidation phase appears constructive as ETH continues to trade above its 200-day moving average, highlighting the strength of its long-term bullish structure.
On-chain analytics platform Santiment has suggested that Bitcoin's price may not have reached its bottom yet, despite its recent drop to the $108,000 range. The platform's analysis is based on the current social sentiment, which indicates a potential further drawdown. Santiment's research report points to the surge in social dominance of 'buy the dip' mentions, arguing that a true bottom is often marked by a shift in social narrative from 'buy the dip' optimism to widespread fear, which discourages buying.
Santiment's analyst, Brian Quinlivan, opined that the Bitcoin price cooldown so far is not significant and noted that BTC has detached from the S&P 500. He predicted that BTC and other crypto assets could play catch-up to the stock market when the crowd stops being overly optimistic about buying the dip. The report also advised market participants to pay close attention to the dominant social narrative, suggesting that a shift from hopeful buying to widespread fear can be a stronger bottom signal than the Bitcoin price alone.
The Santiment report also highlighted the importance of monitoring BTC whale transfers as a key metric to determine if the Bitcoin price has reached its bottom. These whales, or wallets holding 10 to 10,000 BTC, have not been selling off significantly despite the market dip. The report suggests that a lack of selling from these whales could indicate underlying strength, while a significant drop can be a warning of future price weakness. As of the time of writing, Bitcoin was trading at around $107,800, according to data from CoinMarketCap.
A dormant Bitcoin whale has been actively converting billions of dollars worth of Bitcoin (BTC) into Ethereum (ETH) over the past two weeks, according to on-chain analyst "MLM". The bulk of these transactions have been conducted on Hyperliquid, with large amounts of ETH being withdrawn to self-custody and a significant portion staked on the Beacon Chain. In the most recent 46-hour period, the trader sold 7,000 BTC (approximately $759 million) and bought 171,791.84 ETH (approximately $773 million). MLM also noted that 3,000 BTC remained in the actively used source address, likely set aside for further conversion, while two older wallets still held a combined 46,816 BTC (approximately $5.07 billion).
The identity of the trader remains unknown, but the activity has been tracked by both MLM and Arkham Intelligence. The latter identified specific addresses on both chains and noted that the whale has purchased over $3 billion of ETH in total, staking the majority of it. The staking claims are now visible on-chain, with funding flows from the ETH receiver leading to a "Beacon Depositor" account that submitted a series of deposit transactions totaling 165,010 ETH to Ethereum's staking contract. On the Bitcoin side, recent inter-wallet activity and outputs from the active source wallet are consistent with the staged deposits to Hyperliquid.
The origin of the trader is still speculative, with MLM suggesting the entity is "presumably Asian" based on the original BTC accumulation via Asia-linked platforms and miners. However, MLM cautioned against over-interpreting this speculation. The mechanics of the transactions are clear: staged BTC funding to a single trading venue, piecemeal ETH fills to minimize slippage, rapid withdrawals to self-custody, and swift conversion of a large portion to staked ETH. What remains uncertain is how much further the rotation will go, with MLM suggesting that at least several thousand BTC are still poised to move.
World Liberty Financial has launched its WLFI token, which is backed by Donald Trump, with an initial valuation exceeding $30 billion. The token operates on the Ethereum network and its USD1 stablecoin is expanding across multiple chains. The WLFI token went live on leading exchanges at $0.3, giving it a fully diluted valuation of $30 billion. The token briefly surpassed $0.33 before retracting to $0.29, with a market capitalization of $8.7 billion, making it the 27th-largest crypto asset by market cap, ahead of Litecoin, Toncoin, and Polkadot.
The total supply of the governance token is set at 100 billion WLFI. At launch, about 25 billion tokens, equivalent to a quarter of the supply, were in circulation. This includes 10 billion tokens allocated to World Liberty Financial, 7 billion for partner Alt5 Sigma Corporation, and 2.8 billion for liquidity and marketing. Early investors in the project’s funding rounds will be able to unlock around 4 billion tokens, equal to 20% of their original purchases, through the Lockbox process. The remaining non-circulating supply consists of nearly 20 billion WLFI for the Treasury, 33.5 billion for the team, 16 billion as the locked portion of the public sale, and 5.8 billion for strategic partners, all subject to vesting or lock-up conditions. WLFI is now available for spot trading and deposits across several exchanges including Binance, Bybit, MEXC, Bitget, Gate, KuCoin, and Hyperliquid.
Tron's blockchain has seen its active addresses surge to around 2.5 million following a 60% reduction in network fees. This move has given Tron an edge over other major networks, with BNB Smart Chain recording about 2.4 million and Solana trailing slightly with 2.2 million active addresses within the same 24-hour period. The decision to cut network fees was made last Friday after a community vote, as announced by Tron's founder, Justin Sun.
The fee reduction is a strategic response to the rising transaction costs over the past year that had limited participation, particularly in stablecoin transfers where Tron dominates with Tether's USDT. Sun acknowledged that the lower fees may impact revenue in the short term, but emphasized that the change is expected to stimulate user adoption and transaction growth. This, in turn, would strengthen the network's long-term profitability and competitive edge. Earlier this year, Sun had revealed plans for a zero-fee transaction framework for stablecoins to further enhance their adoption.
Strategy, previously known as MicroStrategy, has met all the eligibility requirements for inclusion in the S&P 500 Index, following a strong Q2 2025 performance. The company reported a 2.7% YoY increase in revenue, reaching $114.5 million, with $14 billion in operating income and $10 billion in net income. The adoption of new Bitcoin accounting standards enabled Strategy to record unrealized Bitcoin gains, reversing a trend of impairment-driven losses. This, coupled with Bitcoin's surge above $100,000 in Q2, helped Strategy clear the final hurdle of consistent GAAP profitability.
The S&P 500's next rebalancing decision is due this Friday, with the implementation set for September 19. If approved, Strategy would become the first Bitcoin treasury firm on the benchmark index. This potential inclusion could trigger strong demand for Strategy's shares from index funds and ETFs. However, analysts caution that the S&P committee could still deny inclusion based on factors such as sector composition, market conditions, or other discretionary criteria.
