Do Kwon, co-founder of Terraform Labs, pled guilty to two counts of fraud, agreeing to forfeit over $19 million. His maximum sentence could be 25 years, but prosecutors may recommend a 12-year term if he complies with the agreement. Sentencing is on Dec. 11.

Circle is launching Arc, a new layer 1 blockchain focused on enterprise applications for stablecoin payments and capital markets. The public testnet will launch this fall, with a mainnet beta in 2026, aiming for high transaction speeds and EVM compatibility.

Qubic, led by former IOTA co-founder Sergey Ivancheglo, claims to have gained 51% control of Monero's hashrate, enabling potential transaction censorship and double-spending. The project reported a 6-block chain reorganization, prompting warnings about Monero’s security.

Ether's price surged 9% to $4,708, nearing its all-time high. BitMine plans a $20 billion equity raise for more ETH, aiming for 5% of total supply. Analysts project ETH could reach $7,000-$15,000 by year-end as Solana also spikes 15%.

ALT5 Sigma Corporation is raising $1.5 billion through a stock offering and private placement to fund WLFI tokens, selling 200 million shares at $7.50 each. Post-deal, they will own 7.5% of WLFI supply, with notable board appointments. Share prices fell 26% after the announcement.

Stripe is developing a new payments-focused layer 1 blockchain, Tempo, with Paradigm to enhance stablecoin processing. This aligns with their crypto strategy, including recent acquisitions and the U.S. regulatory clarity on stablecoins.

World Liberty Financial is planning to create a Nasdaq-listed company for its WLFI tokens, aiming to raise $1.5 billion. Discussions with key tech and crypto investors are ongoing as the firm seeks to establish a DeFi and stablecoin platform.

Bo Hines has resigned as Executive Director of the White House Crypto Council after seven months. His deputy, Patrick Witt, is expected to succeed him. Hines advocated for limited regulation and opposed CBDCs during his tenure.

President Trump's executive order ends Operation Chokepoint 2.0, restoring banking services for crypto businesses by removing "reputational risk" from regulations. The order also calls for a review of debanking cases linked to protected beliefs.

Solana has begun shipping over 150,000 Seeker smartphones, designed for crypto users. The device improves usability with one-click transaction approvals and includes a Seed Vault for secure storage and staking SOL directly. Priced at $450, it also offers a Genesis Token for app access and rewards.

MetaMask may launch its own stablecoin, mmUSD, backed by Stripe, according to a deleted proposal on Aave’s governance forum. The initiative aims to enhance liquidity in decentralized protocols while using the M^0 network for efficient onchain transactions.

Michael Saylor’s company Strategy made its third-largest bitcoin purchase ever, acquiring $2.46 billion in BTC between July 28 and August 3.
The latest purchase was for 21,021 BTC at an average price of about $117,526 per coin, the second-highest average price the company has ever paid.
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A significant bitcoin theft, possibly the largest ever, involved 127,426 BTC valued at $14.5 billion from the Chinese mining pool LuBian in December 2020. Hackers exploited vulnerabilities in LuBian's private key generation process.

The SEC has launched "Project Crypto" to modernize digital asset regulations, introducing clear rules for crypto asset distribution, custody, and trading, promoting the development of super-apps, and allowing tokenized securities and non-security crypto assets to trade together on regulated platforms.

Polygon experienced a one-hour outage of its Heimdall V2 consensus layer due to an unexpected validator exit, affecting some users' access but not halting overall transaction processing. The transaction layer remained operational, and RPC providers gradually restored service.

Bitcoin holders have accumulated a record $1.4 trillion in unrealized profits, prompting potential future market pressure. Despite significant sell-offs, the market remains stable, with investors largely holding their assets.

Senator Cynthia Lummis introduced the 21st Century Mortgage Act to modernize home loan eligibility by including stable crypto assets in assessments, aiming to help young borrowers amid a homeownership crisis.