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An address believed to belong to Tron founder Justin Sun has requested the withdrawal of 5,000 stETH worth $12.3 million on Lido to convert it back into ETH, on-chain analyst ai_9684xtpa said. It marks the first unstaking request since July 18, 2025. Sun is currently staking about 243,000 stETH worth $600 million.

A call has emerged at South Korea’s National Policy Committee to hold a public hearing on a basic law for digital assets as soon as possible. Edaily reported Min Byoung-dug, a Democratic Party lawmaker, said at the committee on Aug. 26 that legislation related to stablecoins and digital financial innovation should not be delayed further, adding that an urgent public hearing is needed because the digital asset basic law would be a new standalone law. Min cited U.S. efforts to establish a legal framework for stablecoins and the inflow into South Korea of won-denominated stablecoins issued overseas as reasons to speed up the legislation.

People Power Party leader Jang Dong-hyeok said the party will share its position after discussing cryptocurrency taxation policy at a workshop on Aug. 27, Digital Asset reported. Jang also said the party had maintained a stance on digital assets, but had not responded clearly to policies pushed by the Democratic Party or the Lee Jae-myung administration, adding that standing committees would hold in-depth discussions on the issue at the workshop. The government’s position is to begin taxing digital-asset income from Jan. 1, 2027. Within the Democratic Party, there is no clear opposition to the plan.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $135.87 million liquidated (85.85% longs) - ETH: $74.92 million liquidated (83.06% longs) - XRP: $21.22 million liquidated (93.38% longs)

A public petition on South Korea’s National Assembly platform calling for a two-year delay to crypto taxation has drawn more than 5,000 signatures. The petition, titled a petition on a two-year delay to crypto taxation, was registered on Aug. 17 and argued crypto taxation would reduce taxes that can actually be collected rather than raise revenue. It also pointed to a sharp drop in corporate tax paid by exchanges including Dunamu. The petition added that most investors are in the red, and pushing ahead with taxation while domestic crypto-related companies are struggling would lead to a loss of support among younger voters and deprive them of opportunities. The signature period began on Aug. 21 and runs through Sept. 20.

Zcash could expand its market share on rising demand for financial privacy in the AI era, and its current valuation remains undervalued, according to Grayscale Research head Zach Pandl. Pandl said Bitcoin has strong network effects, accounting for 93% of the market capitalization of the “currency” category in Grayscale’s internal crypto classification, but argued Zcash offers differentiated features from BTC, including financial privacy, development aimed at preparing for quantum computing threats, and connectivity with other blockchains. He added that although ZEC has risen around 19-fold over the past year, its market capitalization is still under 1% of Bitcoin’s, indicating those features have not yet been fully priced in. Pandl also cautioned that investing in ZEC carries high risk and does not guarantee a continued price increase even if the project succeeds.

An anonymous whale starting with 0x3527 sold its entire holding of 301,937 HYPE worth $24.4 million, realizing a profit of more than $5.3 million, according to Lookonchain. The whale had bought HYPE at an average price of $63 between May and July.

Grayscale’s Zcash spot ETF, ZCSH, recorded $14.8 million in trading volume on its first day listed on U.S. markets and closed down 1.54% at $63.10. The fund was up more than 3.5% at one point during the session. ZCSH is the first spot ZEC ETF, and Grayscale has also previously operated a Zcash trust.

U.S. prediction market platform Kalshi said in a U.S. SEC filing on Aug. 25 that it raised about $1.12 billion through a private stock offering launched in April. The filing also said Kalshi could raise an additional $380 million, according to The Block. In May, Kalshi raised $1 billion in a Series F round led by Coatue at a $22 billion valuation.

Uniswap founder Hayden Adams said real-world asset tokenization is dismantling traditional market-making structures and could make automated market makers, or AMMs, central to financial markets. In a post on X, Adams said tokenization is going beyond a simple infrastructure upgrade and is fundamentally changing both liquidity providers and the assets being traded. Adams added the U.S. SEC has approved stock token trading by Nasdaq and the New York Stock Exchange, while the Depository Trust & Clearing Corporation has also conducted live trading tests. Unlike traditional market makers, blockchains are making capital more fluid, Adams said. Adams added a Uniswap pool on the previously launched Robinhood Chain, consisting of 10 stock tokens and SPY, an ETF tracking the S&P 500, recorded $33 million in trading volume in 12 days. Adams described AMMs as an early-stage technology with significant room for development.

An anonymous new address beginning with 0x1366 withdrew 28,980 HYPE worth $2.38 million from FalconX, according to Onchain Lens. Exchange withdrawals are typically interpreted as a sign of holding intent.

According to CoinNess market monitoring, BTC has risen above $79,000. BTC is trading at $79,000 on the Binance USDT market.

Decentralized exchange Aster announced the listing of perpetual futures for TMX, the native token of DeFi fixed-rate, fixed-term lending protocol TermMax. The listing adds support for TMX/USDT trading, and Aster is running a promotional trading campaign to distribute a total of $50,000 worth of ASTER. The campaign runs until 2:00 p.m. UTC on Sept. 1, with rewards to be distributed based on each participant’s share of trading volume. TermMax has been operating across 10 blockchains since its mainnet launch in April 2025, and its total value locked stands at about $91 million.

South Korea’s Financial Services Commission plans to submit a government proposal for the Basic Digital Asset Act in early September through legislation sponsored by Rep. Yoo Dong-soo of the ruling Democratic Party, who chairs the National Assembly’s Political Affairs Committee, The Herald Business reported. The proposal is understood to be taking shape around applying the same major shareholder ownership cap to all virtual asset exchange operators regardless of exchange size or market share. A 20% ceiling is being discussed as the base proposal for the cap, which has emerged as the biggest sticking point. Authorities aim to bring traditional financial companies such as banks into exchange governance through the measure.

South Korean exchange Upbit announced it will temporarily suspend deposits and withdrawals of Cosmos (ATOM) at 9:00 a.m. UTC on Sept. 2 for a network upgrade.

Crypto mining company Bitdeer (BTDR) said it has signed a 28 MW joint mining agreement with Soluna Holdings (SLNH) and will deploy about 1.93 EH/s of mining capacity at a wind-powered data center in southern Texas, according to Bitcoin.com. Under the deal, Bitdeer subsidiary Dory Creek plans to begin installing its in-house SEALMINER A2 Pro Air mining machines at Soluna’s facility in September. The agreement is structured as a joint mining arrangement in which the two companies will share mining revenue, rather than as a hosting deal.

A newly created address believed to be linked to Bitmine (BMNR), starting with 0xAef, withdrew 20,000 ETH worth $48.89 million from Kraken over the past 50 minutes, according to ai_9684xtpa. Exchange withdrawals are typically interpreted as a sign of holding intent. Bitmine currently holds 5,847,611 ETH at an average purchase price of $3,359, with unrealized losses estimated at $5.27 billion.

U.S. Bitcoin financial services firm River estimated that about 825,000 people worldwide hold at least 1 BTC, or roughly one person per 10,000 people globally. River said it started with about 972,000 addresses holding at least 1 BTC, excluding addresses managed by companies, governments, ETFs and exchanges. It then estimated the number of exchange customers holding at least 1 BTC by assuming the distribution of BTC holdings among exchange users matches the distribution seen on-chain. Based on that method, River put the number of holders with at least 1 BTC at about 825,000, with a possible range of 600,000 to 1 million, assuming a global population of about 8.2 billion. River added that all figures are estimates, explaining that blockchains record addresses rather than people, while a single person can control multiple addresses and a single exchange address can hold assets for millions of users.

Polychain Capital deposited 14.65 million EIGEN worth $3.09 million to Coinbase Prime six hours ago, according to EmberCN. EmberCN said Polychain Capital restaked 46.86 million EIGEN out of 131.8 million EIGEN it unstaked three months ago, and its current holdings stand at 70.29 million EIGEN excluding the amount deposited to Coinbase Prime.

Bitforex founder Garrett Jin added a 600 BTC long position at $79,000 after Bitcoin briefly pulled back from above $80,000, EmberCN reported. Garrett Jin, founder of the fraudulent crypto exchange Bitforex, now holds a 3x leveraged cross long position worth 1,868 BTC ($147 million) at an average entry price of $77,090, with an unrealized gain of about $2.78 million. In early July, the position’s unrealized loss reached as much as $23 million, but the recent surge in BTC has pushed it back into profit. Separately, Garrett Jin is sitting on an unrealized loss of about $10.74 million on a 2x leveraged cross short position of 32,760 ZEC ($25.28 million) entered at an average price of $444.

Shinhan Financial Group will work with Visa Group to pursue future finance businesses including digital assets, Yonhap News Agency reported, citing a company statement released today. As part of the agreement, Shinhan Financial plans to use Visa’s stablecoin platform to test core functions including issuance, remittances and redemptions, while jointly designing a South Korea-tailored business model suited to the domestic financial environment. The two sides also plan to cooperate on using stablecoins for financial services such as card payment settlements, developing AI-based future payment models, and expanding B2B and B2C payment businesses.

Bitcoin mining company Sphere 3D (ANY) is facing a potential $2.2 million tariff bill after authorities determined mining machines bought through a subsidiary in 2022 were made in China, CryptoSlate reported. Sphere 3D plans to challenge the finding, saying it received documentation at the time of purchase certifying the machines were not made in China. The company held about $2.8 million in cash as of the end of the second quarter. Separately from the tariff issue, CryptoSlate added Sphere 3D is facing questions about its ability to continue operating without additional funding amid recurring losses and worsening cash flow. The outlet said the company is now in the process of changing its name to DarkHorse Technologies and its ticker to DRK.

James Murphy, a U.S. digital-asset lawyer known by the nickname MetaLawMan, backed pro-crypto lawyer John E. Deaton and urged voters to unseat Massachusetts Sen. Ed Markey over Markey’s opposition to the CLARITY Act. In a post on X, Murphy said Fidelity, an asset manager that employs many people and pays substantial taxes in Massachusetts, urged the Senate in July to pass the CLARITY Act. Murphy added Markey, who is seeking re-election, would vote against the bill regardless of its contents, and argued voters should support Deaton.

Coinbase (COIN) submitted a comment letter to the U.S. CFTC and SEC on the definition of perpetual futures products and the related regulatory framework after the two agencies requested public input. Faryar Shirzad, Coinbase’s chief policy officer, said on X the recommendations include establishing a framework to promote consumer choice, market competition, and innovation; classifying equity-based perpetual futures products as security futures; and allowing exchanges regulated by either the CFTC or SEC to list equity-related prediction products. Shirzad added Coinbase currently offers perpetual futures and prediction market products but faces conflicting rules amid a jurisdictional dispute between the CFTC and SEC.

CoinMarketCap’s Altcoin Season Index stood at 38. The index compares price performance between Bitcoin and the top 100 coins by market capitalization, excluding stablecoins and wrapped coins. A market is considered to be in altcoin season when 75% of the top 100 coins have outperformed Bitcoin over the past 90 days, while the opposite is considered Bitcoin season. A reading closer to 100 indicates stronger altcoin season conditions.