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Bithumb faces questions over altcoin withdrawal delays as regulator begins review Altcoin withdrawals on South Korean exchange Bithumb were delayed for more than 13 hours, Digital Times reported, and South Korea’s Financial Supervisory Service said it would check the exact facts. Bithumb said the delay stemmed from the time needed to move virtual assets from a cold wallet to a hot wallet. Still, questions are growing over whether the issue can be seen as a simple wallet transfer problem, as delays involving some altcoin withdrawals have been raised repeatedly in the past, according to the report. One user who requested an altcoin withdrawal from Bithumb yesterday completed the withdrawal at around 3:25 p.m. on Aug. 11, roughly 13 hours later. After the withdrawal remained unprocessed for about four hours, the user contacted Bithumb’s customer service center. At the time, the center said in English, "현재 잔고 부족으로 인한 출금 지연 중이며 내부 기준에 따라 충전 후 출금 예정". Bithumb said its actual virtual asset balance had not been insufficient. Industry participants are focusing on the possibility that the withdrawal delay was not just a one-off incident this time, the report said.

Coinbase said it has added AI agent payments and USDT payment support to Coinbase Business, its payment service for companies. AI agents can make payments through existing checkout systems using the open standard x402, with funds settled instantly in USDC. When customers pay in USDT, the amount is automatically converted into USDC and deposited into a Coinbase Business account.

A Spritehood NFT collection launched on Robinhood Chain by former Pudgy Penguins co-founder Cole Villemain sold out all 44,444 items in under an hour, The Defiant reported. According to on-chain analyst 0xlaplaced, 42,956 NFTs were sold for a total of $1.28 million, while the remaining 1,488 were minted for free before the sale began. Of the paid NFTs, 37,430 sold for $17 each, while 5,526 sold for $117 each with a $100 upgrade option added. Villemain was removed from the Pudgy Penguins team through a community vote in January 2022 after allegations surfaced over misuse of project funds, but Villemain has never been indicted in connection with those allegations.

CoinMarketCap’s Altcoin Season Index stood at 42. The index is calculated by comparing the price performance of Bitcoin and the top 100 cryptocurrencies by market capitalization, excluding stablecoins and wrapped tokens. An altcoin season is identified when 75% of the top 100 coins outperform Bitcoin over the past 90 days, while the opposite is considered a Bitcoin season. A reading closer to 100 indicates stronger altcoin-season conditions.

The U.S. SEC is considering a plan that would let U.S.-listed companies object to third-party listings of tokenized versions of their shares, Bloomberg reported. According to Bloomberg, the SEC’s proposed "innovation exemption" could also limit stock-token trading platforms to U.S. entities and tighten anti-money laundering rules. Details could be released as early as Aug. 14.

U.S. SEC and CFTC have filed separate civil complaints against Goliath Ventures and founder Christopher Delgado over an alleged roughly $400 million crypto Ponzi scheme, Cointelegraph reported. The SEC alleged Goliath raised at least $425 million from more than 1,300 investors by saying the funds would be invested in cryptocurrency liquidity pools, but did not actually invest the money and instead used funds from new investors to pay returns promised to earlier investors. The agency also alleged Delgado personally diverted at least $51 million. According to the CFTC, Goliath took in at least $397 million from about 1,600 people while claiming it would generate profits through Bitcoin and Ethereum trading. The CFTC is seeking victim restitution, disgorgement, civil monetary penalties, and trading and registration bans. Delgado had previously pleaded guilty to wire fraud, conspiracy to commit wire fraud, and money laundering.

South Korea’s Kyobo Life Insurance said it signed a memorandum of understanding with Viva Republica, the operator of Toss, to cooperate on building a digital asset ecosystem and related services, according to Digital Asset. Under the agreement, the two companies will lay the groundwork to jointly develop financial services using digital assets.

About 700 trillion won ($505.2 billion) in virtual assets has moved from South Korean crypto exchanges to overseas exchanges from 2021 through this year, Newsis reported. In a joint report, Web3 research firm Tiger Research and Chainalysis interpreted the trend not as weakening domestic demand, but as unmet demand in South Korea shifting offshore. About 168 trillion won ($121.2 billion) flowed out last year alone, and South Korean investors are estimated to have paid about 5 trillion won ($3.6 billion) in trading fees to use overseas exchanges in the same year.

The spot CVD chart is an order-book analysis chart for the BTC/USDT spot trading pair. The upper section shows the Volume Heatmap, while the lower section shows cumulative volume delta, or CVD. - The upper volume heatmap tracks trading volume at each price level, with the background becoming brighter when the price stays in a specific range for an extended period or makes a large move. Brighter zones may act as support or resistance. - The lower cumulative volume delta indicator reflects buy and sell orders by fund size. As buy orders increase, the line in the corresponding color moves higher. The yellow line represents orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.

Onchain Lens said an anonymous whale is estimated to have sold $9.59 million worth of ETH over the past hour, sending 2,440 ETH to FalconX, 1,180 ETH to Galaxy Digital and 1,480 ETH to Coinbase.

CoinMarketCap’s in-house Crypto Fear and Greed Index came in at 37, unchanged from yesterday, with the market remaining in fear territory. The index indicates more extreme fear as it moves closer to zero and greater optimism as it approaches 100. CoinMarketCap calculates the gauge based on price moves among the top 10 cryptocurrencies by market capitalization, market volatility, derivatives-market indicators including the put/call ratio, the stablecoin supply ratio, or SSR, and CoinMarketCap’s own search data.

BC Card completes South Korea’s first stablecoin payment proof of concept with Coinbase South Korean card company BC Card said it has completed a proof of concept with Coinbase and institutional digital-asset technology firm Wavebridge linking overseas digital-asset wallets with South Korea’s card payment network, The Fair reported. The three-month pilot, which began in April, tested a scenario in which foreign visitors made payments at domestic BC QR merchants using USDC held in Coinbase’s "Base" wallet, without going through a separate currency exchange process.

Alameda Research unstaked 201,740 SOL for the first time in five years and transferred 201,780 SOL to a BitGo custody wallet, Onchain Lens reported. The transfer is estimated to be part of a plan to sell the tokens over the counter through BitGo.

On-chain analyst ZachXBT has identified Tiffany Milanovich as the person behind at least $5 million in cryptocurrency thefts carried out by impersonating customer support staff at hardware wallet providers and centralized exchanges, CryptoPotato reported. Milanovich was known to have sent phishing emails under the alias "Patricia Massie" in June, stealing a Trezor wallet and taking $1.2 million worth of BTC and ETH. In October 2025, Milanovich also gained access to a Coinbase account and obtained about $500,000 worth of Bitcoin. After withdrawing victims' funds, Milanovich allegedly left call recordings mocking victims and flaunted the crimes through gambling, luxury purchases, and balance screenshots posted on Telegram and Discord. Milanovich was also found to have continued the activity despite already being subject to a search warrant in Connecticut.

The U.S. Commodity Futures Trading Commission has ordered prediction market platform Kalshi to keep operating in New York in response to a lawsuit by New York state prosecutors seeking to halt its business there, CoinDesk reported. After New York Attorney General Letitia James sued Kalshi, the CFTC exercised emergency authority and directed the company to continue providing trading services in the state. CFTC Commissioner Mike Selig made clear the agency’s position that prediction markets are financial derivatives subject to federal law and that state gambling laws cannot regulate federally supervised futures exchanges. New York state previously filed suit in late July, arguing Kalshi’s sports-related prediction markets amounted to an unlicensed illegal gambling platform and seeking a service suspension and disgorgement of profits. Kalshi’s annualized revenue has also topped $4 billion.

An Ethereum genesis wallet holding 2,680 ETH, worth about $5.05 million, has become active for the first time in more than 11 years with a 0.001 ETH transfer, according to Onchain Lens. The holdings were worth just $830 in 2015, implying an unrealized gain of 608,000%.

Stablecoin card spending topped $1B in July, a record high Stablecoin card spending hit a record $1.04 billion in July, according to PaymentsScan.

Nasdaq-listed Bitcoin holder Empery Digital (EMPD) sold 1,635 BTC to raise funds for debt repayment and investment in a new data center, Bitcoin.com reported. The company sold the Bitcoin between July 1 and Aug. 6, raising a total of $102.2 million in cash. Its total holdings fell to 1,279 BTC. Of those holdings, 954 BTC is pledged as collateral for a $35 million loan, leaving the company with only 325 BTC that it can freely dispose of.

Polymarket is reshaping its internal team ahead of the NFL season and the U.S. midterm elections, CNBC reported. According to the report, Polymarket has hired Bird founder Travis VanderZanden as chief growth officer, or CGO, and VanderZanden will also oversee marketing. The move follows a Wall Street Journal report that Polymarket paid creators to post fake betting videos, after which the U.S. Commodity Futures Trading Commission opened an investigation. Separately, former Robinhood executive Megan McGrath joined the compliance team as chief compliance officer, or CCO, of Polymarket’s U.S. exchange, while former Coinbase executive Natalie Oblazny will lead regulatory affairs for the U.S. platform.

The three major U.S. stock indices closed lower today. - S&P 500: -0.32% - Nasdaq: -0.60% - Dow Jones: -0.34%

Brazil’s largest bank, Itau Unibanco, announced a partnership with crypto infrastructure provider OpenAssets for a tokenization pilot overseen by the Brazilian Financial and Capital Markets Association, or ANBIMA. The project is a pilot program to issue, trade and settle bonds and investment funds using distributed ledger technology, CoinDesk reported. Banks and asset managers plan to review the regulatory and technical standards needed to use such systems.

ENS governance approves proposal to formalize foundation as operating body ENS governance has approved a proposal to convert the foundation into a formal operating organization, The Block reported. The proposal passed with about 70% support. Under the plan, the ENS Foundation will become a formal organization with full-time executives, permanent staff and a five-member board, while gaining administrative control over about $65 million. The overhaul is aimed at building an organizational base capable of operating within formal institutional frameworks, including working officially with bodies such as ICANN and protecting trademarks. The foundation said a DAO alone lacks the legal and operational capacity to represent infrastructure and operate across multiple areas.

Flowdesk secures broker-dealer license in Dubai Flowdesk has obtained a full license from Dubai’s Virtual Assets Regulatory Authority (VARA) to provide broker-dealer services, Cointelegraph reported. The license allows Flowdesk to offer regulated broker-dealer services to qualified and institutional investors in and outside Dubai.

The U.S. Commodity Futures Trading Commission is prepared to move ahead with its own cryptocurrency regulatory efforts even if the CLARITY market structure bill does not pass Congress, Watcher.Guru reported.

Institutional investors and other professional traders are accumulating ETH ahead of the U.S. consumer price index release today, with spot buying running at 7.2 times the usual pace, according to a Nansen analysis. At the same time, professional traders remain net short in BTC and ETH derivatives as they stay cautious about inflation and the possibility of interest-rate hikes.