According to Cointelegraph, two Estonian nationals, Sergei Potapenko and Ivan Turogin, who co-founded the cryptocurrency mining service HashFlare, are set to be sentenced on Thursday after pleading guilty to conspiracy to commit wire fraud. This plea deal comes amid a legal battle with U.S. prosecutors, who have contested claims made by the defendants' lawyers in their sentencing recommendations. The co-founders have requested time served, while the U.S. government is pushing for a 10-year prison sentence, arguing that the victims of HashFlare have suffered significant harm. Prosecutors have criticized the defense's argument that HashFlare's victims did not incur losses, citing an expert opinion and attempts to discredit victim statements. They argue that the expert opinion relies on fabricated data regarding supposed investor earnings, which the defendants admitted to in their plea agreements. The prosecution maintains that the figures provided by Potapenko and Turogin support the victims' claims of financial loss. The U.S. government's sentencing recommendation highlights the fraudulent nature of HashFlare, describing it as a Ponzi scheme. Potapenko and Turogin have previously claimed in court filings that they returned $400 million in cryptocurrency to users and agreed to forfeit interests in assets frozen by the U.S. government in 2022. However, prosecutors have dismissed these claims as incorrect, emphasizing the fraudulent operations of HashFlare. The co-founders were indicted in October 2022, arrested in Estonia, and extradited to the U.S. in May 2024. They have been free on bail since July 2024 and entered guilty pleas in February 2025. During the court proceedings, the co-founders received letters from the U.S. Department of Homeland Security instructing them to leave the United States, aligning with U.S. President Donald Trump's administration's efforts for mass deportations. It remains uncertain whether the judge will consider their immigration status during sentencing. Cointelegraph attempted to contact Potapenko's legal counsel for comments on the upcoming sentencing hearing but had not received a response by the time of publication.

BitMine, the Delaware-based ETH whale chaired by Tom Lee, is arming a $20B ATM to chase 5% of supply—after amassing 1. 15M ETH (~$5B) as ETH pushes toward $4,500 source: https://cryptonews.com/news/eths-biggest-whale-bitmine-unleashes-20b-war-chest-to-buy-more-ethereum-supply-shock-imminent/

Bitcoin could pick up momentum above $120,000, with ETH, BNB, LINK, and UNI following suit. source: https://cointelegraph.com/news/bitcoin-holds-dollar118k-while-eth-bnb-link-uni-aim-to-extend-the-altcoin-rally?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Coinbase has relaunched its Stablecoin Bootstrap Fund after nearly six years to increase stablecoin liquidity in DeFi. source: https://www.theblock.co/post/366656/coinbase-stablecoin-liquidity-aave-morpho-kamino-jupiter-new-bootstrap-fund?utm_source=rss&utm_medium=rss

null source: https://x.com/BTC_Archive/status/1955369001388810252

Pantera’s Dan Morehead nailed his prediction for Bitcoin’s Aug. 11, 2025 price, made in November 2022 as BTC was nearing its bottom. source: https://cointelegraph.com/news/pantera-bitcoin-halving-prediction-2025-accuracy?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Three projects in particular – XRP, Cardano (ADA), and Solana (SOL) – are positioned to play major roles in shaping […] The post XRP, Cardano, and Solana in 2026: Key Developments, Price Speculation, and Comparison appeared first on Coindoo. source: https://coindoo.com/xrp-cardano-and-solana-in-2026-key-developments-price-speculation-and-comparison/

According to BlockBeats, Wall Street experienced gains as inflation data aligned with expectations, intensifying speculation about a potential Federal Reserve rate cut in September. This anticipation led to a rise in stock markets and a decline in short-term bond yields. The S&P 500 index saw all major sectors increase, climbing 1.1% to reach a record high. The Nasdaq 100 index also hit an all-time peak, while the Russell 2000 small-cap index rose by 3%. Although the initial surge in Treasury bonds lost momentum, money markets estimate a 90% probability of a Federal Reserve rate cut next month. The yield on two-year Treasury notes, which are more sensitive to upcoming policy changes, fell by 4 basis points to 3.73%. The U.S. dollar weakened as core inflation in the country rose to its highest level since the beginning of the year. However, the slow rise in commodity prices eased concerns over tariff-driven pressures. In the stock market, renewed bets on low interest rates fueled gains, supported by ongoing enthusiasm for artificial intelligence and strong corporate earnings.

According to BlockBeats, Circle Internet Group is set to issue 2 million shares of Class A stock, as revealed in documents filed with the U.S. Securities and Exchange Commission (SEC). Additionally, selling shareholders plan to issue 8 million shares of Class A stock.

Ethereum (ETH) climbed over 5% on Aug. 12 to a multi-year high above $4,500, marking its highest price since December 2021. The increase coincided with corporate treasury purchases, record inflows into U. S source: https://cryptoslate.com/ethereum-hits-multi-year-high-above-4500-amid-ramping-corporate-institutional-interest/

An industry giant with total assets of nearly 800 billion yuan has officially joined the stablecoin race. The founder personally led the team to meet with two of Hong Kong's top financial officials within one day.

Golden Finance has launched the "Golden Web3.0 Daily" to provide you with the latest and fastest MEME, DeFi, DAO, NFT and metaverse industry news.

On Monday, August 11, 2025, the Qubic protocol successfully completed its attempt to take control of the Monero network, making history.

The supply dynamics, ecosystem, and on-chain impact of ETH treasury companies.

Monero, Monero 51% Attack: A $300 million takeover of $6 billion technical verification? Golden Finance, Is Qubic an enemy or a new ally?

Stock tokenization is becoming the best narrative for the integration of TradFi and Web3 in 2025.

Recommended reading for this evening: 1. From clinging to Trump to shilling for the rich: How do ALT5 and WLFI play the capital game? 2. Bitmine's stock price surges again: What are the risks? 3. A blunt question: Is Ethereum still worth chasing?

This approach will not increase the company's debt burden, but it will dilute the holdings of existing shareholders. If the stock price weakens due to a market downturn or ETH price fluctuations, the company's ability to raise funds through additional issuance will be greatly reduced.

In a candid post, Li revealed that he has been frequently mocked by netizens over his decision to become a Singapore citizen in 2009.

Pudgy Penguins’ PENGU token won a trading contest on Kraken, leading to its mascot being featured on Williams Racing’s F1 car at the Singapore Grand Prix. The token has seen strong recent growth and expanded listings, boosting its profile in both the crypto and motorsport communities.