gm 17/08

Summary
gm, Ethereum ETFs outpaces Bitcoin ETFs for the fifth consecutive day, adding approximately $3.4 billion compared to Bitcoin's $966 million. The Federal Reserve announced the end of its specialized supervisory program for banks' crypto activities, signaling a more accommodative regulatory approach as these activities will now fall under standard supervisory processes. On the corporate front, Gemini filed for a Nasdaq IPO under the ticker GEMI despite reporting widening losses, while digital asset treasuries continue to accumulate Ethereum, with BitMine Immersion Technology and an unknown whale purchasing a combined $882 million in ETH. Meanwhile, the gaming blockchain Ronin announced plans to transition back to Ethereum as a Layer-2 solution by Q2 2026, highlighting Ethereum's growing institutional appeal despite concerns over $3.8 billion in unstaking queue potentially creating sell pressure.

News Headlines
🎮 Ronin Network Returning to Ethereum as Layer-2 Rollup in 2026

• Ronin, the gaming blockchain that powers Axie Infinity, is transitioning from a standalone sidechain to a full Ethereum layer-2 rollup in Q1-Q2 2026, seeking to leverage Ethereum's improved performance and security features while maintaining the Ronin token as its native gas token.
• The migration will implement new tokenomics including a "Proof of Distribution" model to reward builders, while Ronin will retain control over sequencing, transaction inclusion, and fee logic rather than fully surrendering these functions to Ethereum.

📊 Ether Bull Flag Targets $6K as ETH Supply on Exchanges Falls to 12%

• Ethereum's price is consolidating just below its all-time record of $4,867 after confirming a bullish continuation pattern known as a "bull flag," which suggests a potential target of $6,100, representing a 34% increase from current levels.
• The supply of ETH on exchanges has dropped to a nine-year low of just 12%, indicating strong long-term holder conviction and reduced sell-side pressure, especially when combined with the significant portion of Ethereum currently staked.

💊 Pharmaceutical Distributor Launches XRP-Based Payment System

• Nasdaq-listed Wellgistics Health has implemented an XRP Ledger-powered payment system for over 6,500 independent US pharmacies, enabling instant settlement of prescription drug payments.
• The company is also adopting XRP as a treasury reserve asset, backed by a $50 million equity line of credit, positioning it as one of the first healthcare companies to deploy blockchain solutions at scale.

🏦 US Fed Ends Supervisory Program Overseeing Banks' Crypto Activity

• The Federal Reserve has discontinued its specialized supervisory program for monitoring U.S. banks offering cryptocurrency services, instead integrating these activities into standard supervisory processes after gaining better understanding of the risks involved.
• This shift marks a significant change from 2023 when the Fed mandated strict notification and guidelines for banks engaging in crypto-related activities, following concerns stemming from the collapse of entities like FTX and small banks.

🏛️ SEC Chair Paul Atkins Teases Private Equity Access for Retail Investors

• SEC Chairman Paul Atkins announced plans to expand retail investor access to private equity investments, addressing the current regulatory imbalance that favors large financial institutions over individual investors.
• The initiative builds on a recent executive order from President Trump aimed at democratizing investment opportunities, though Atkins emphasized the need for appropriate safeguards to protect investors from the financial risks associated with private equity.

Market Metrics

Fundraising & VC
No fundraising data today.

Regulatory
⚖️ DOJ Seizes $2.8M in Crypto from Ransomware Operator

• The US Justice Department has seized over $2.8 million in cryptocurrency, $70,000 in cash, and a luxury vehicle from Ianis Antropenko, who is charged with computer fraud and money laundering.
• The assets were allegedly proceeds from ransomware operations laundered through ChipMixer, adding to the government's growing Bitcoin holdings from seized criminal assets, now valued at approximately $23 billion.

🏝️ Crypto Expected to Become UAE's Second-Largest Industry

• Cryptocurrency is projected to become the UAE's second-largest economic sector within five years, driven by the country's supportive regulatory environment and strategic investments in technology.
• The UAE is establishing itself as a major hub for crypto in the Middle East and Africa, with major sovereign wealth funds increasing exposure to Bitcoin and other digital assets.

🔐 Asian Crypto Security Needs Regional Approach

• Asia's cryptocurrency sector faced substantial losses in 2025 due to scams, with current blockchain analytics failing to address region-specific money laundering techniques like unlicensed OTC desks.
• Experts emphasize the need for localized risk libraries and public-private partnerships with law enforcement to combat the unique patterns of crypto crime emerging across Asian markets.

🔄 Digital Currency Group Sues Subsidiaries Over $1.1B Promissory Note

• Digital Currency Group (DCG) has filed a lawsuit against its subsidiaries Genesis Global Capital and Genesis Asia Pacific, claiming they owe over $1.1 billion related to overpayments stemming from Three Arrows Capital's 2022 default.
• The complaint alleges that the promissory note, initially issued as a safety measure against potential 3AC losses, actually benefited Genesis, which reportedly profited by hundreds of millions without experiencing liquidity issues.

Technical Analysis
Bitcoin - Bitcoin is in a rising trend channel in the short term. This signals increasing optimism among investors and indicates continued rise. The price has reacted back after meeting the objective at 122416 after a break of rectangle formation. A significant penetration of 118077 will again give new positive signals to the currency, while a break on the opposite side of the formation will be a strong negative signal. The currency has support at points 113500 and resistance at points 120700. The RSI curve shows a rising trend, which supports the positive trend. The currency is overall assessed as technically positive for the short term.

Ethereum - Ethereum is in a rising trend channel in the short term. This signals increasing optimism among investors and indicates continued rise. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the currency has support at approximately 3870 points. The short term momentum of the currency is strongly positive, with RSI above 70. This indicates increasing optimism among investors and further price increase for Ethereum. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The currency is overall assessed as technically positive for the short term.