Trump-backed ‘American Bitcoin’ Targets Asia In Bold Expansion Plan

Trump-backed ‘American Bitcoin’ Targets Asia In Bold Expansion Plan

American Bitcoin, the Trump family’s crypto venture, is rushing to expand overseas. The company is reportedly seeking to acquire at least one publicly listed firm in Asia. Japan stands as its primary target, with Hong Kong also under consideration. Founded by Donald Trump Jr. and Eric Trump, American Bitcoin represents an expanding branch of Trump-linked ventures.

Moreover, the firm has already started building a Bitcoin treasury. By June 10, it held 215 Bitcoin. Shortly after, on June 30, it announced a $200 million raise to grow its treasury and buy additional mining equipment.

If American Bitcoin completes its move into Japan or Hong Kong, it could dramatically expand its global reach. However, the company emphasized it has yet to make binding commitments.

Coinbase Onchain Borrowing Surges To $600M As DeFi Loans Boom

Coinbase has highlighted the impressive growth of the DeFi industry as its onchain borrowing reaches $600 million as of mid-August 2025. Meanwhile, it has lost some ground in its global trading market. The borrow feature on Coinbase enables users to access liquidity without selling their cryptocurrencies. The increasing demand implies that more investors and institutional stakeholders are becoming comfortable with blockchain-based lending systems.

The dominance of Coinbase in the global crypto trading arena has declined even as the firm records more trading volumes. The U.S.-based crypto exchange began the year with a 7% market share of global trading volume. However, its market share fell to 5.8% as of July.

Kraken Pauses Monero Deposits After 51% Attack Claims

Crypto exchange Kraken has paused deposits of Monero (XMR) after warning of a potential 51% attack on the privacy-focused blockchain. The exchange said withdrawals and trading remain open, and deposits will resume once the network is deemed safe. A 51% attack occurs when one entity controls more than half of a blockchain’s computing power, enabling it to reorder transactions and potentially double-spend.

Monero, the 29th largest cryptocurrency by market capitalization at about $6 billion, is one of the industry’s most prominent privacy-preserving protocols. News of the alleged attack has triggered concern across its community and raised questions about the security of proof-of-work chains with concentrated mining pools.

Grayscale Files With SEC For Dogecoin ETF Under Ticker GDOG

Grayscale Investments has filed with the U.S. Securities and Exchange Commission (SEC) seeking approval to launch a Dogecoin exchange-traded fund (ETF).According to a registration statement submitted on Friday, the product would trade on NYSE Arca under the ticker GDOG if approved. The asset manager said it is converting its existing Grayscale Dogecoin Trust into the Grayscale Dogecoin Trust ETF. NYSE Arca had already filed a related application for the Dogecoin product, and Grayscale confirmed that the ETF shares are expected to list under the GDOG symbol.

BlackRock Bitcoin ETF Now Holds 735,000 BTC Worth $86B

BlackRock, the world’s largest asset manager with over $11.6 trillion in assets, now controls more than 735,000 Bitcoin worth about $86 billion. Data from Arkham Intelligence. shows BlackRock’s iShares Bitcoin ETF (IBIT) wallets have received steady transfers, with multiple on-chain transactions of 300 BTC, worth $37 million each recorded in the last couple of days through Coinbase Prime. Meanwhile, this marks a large jump from March this year when BlackRock was reported to hold 567,000 BTC valued at $47.8 billion.

In fact, Blackrock holds more Bitcoin than Strategy which has about 628.946 Bitcoin in its holding worth $54.93 billion.

Hedge Fund Giant Brevan Howard Reveals $2.3B BlackRock Bitcoin ETF Stake

Hedge Fund giant Brevan Howard, with assets under management (AuM) of around $20 billion, has revealed an increase in its BlackRock Bitcoin ETF (IBIT) holdings.

A 13-F SEC filing showed that the Hedge fund giant now holds $2.32 billion in IBIT shares. This also suggests that the company might now be the largest IBIT holder.

The Bitcoin ETF is now one of the largest funds in the U.S. despite just launching last year. Meanwhile, all the BTC ETFs combined hold $153.43 billion in net assets, which represents 6.54% of the flagship crypto’s market cap.

Winklevoss’ Gemini Files For Nasdaq Listing After Strong Bullish Debut

Gemini Space Station, the crypto exchange and custodian founded by Cameron and Tyler Winklevoss, has filed with the US Securities and Exchange Commission to list its Class A common stock on the Nasdaq Global Select Market under the ticker GEMI. According to its filing, the IPO will mark the first time its shares are publicly traded, with pricing expected between an undisclosed range. The offering will be led by a syndicate of major banks, including Goldman Sachs, Morgan Stanley, Citigroup and others.

Meanwhile, Gemini has secured a $150 million credit line from Ripple with an initial commitment of $75 million, as it prepares for an upcoming IPO on the Nasdaq.

This partnership marks a significant milestone for Ripple, as it expands the use case of RLUSD within a major crypto exchange’s credit infrastructure.

Japan To Approve First Yen-backed Stablecoins This Fall

Japan’s Financial Services Agency (FSA) is preparing to approve the issuance of yen-denominated stablecoins as early as this fall, marking the first time the country will allow a domestic fiat-pegged digital currency. Tokyo-based fintech firm JPYC will register as a money transfer business within the month and will lead the rollout.

JPYC is designed to maintain a fixed value of 1 JPY = 1 yen, backed by highly liquid assets such as bank deposits and Japanese government bonds. After purchase applications from individuals or corporations, the tokens are issued via bank transfer to digital wallets.

Axie Infinity Creator Ronin Network Coming Back To Ethereum As L2

Ronin, a purpose-built blockchain for gaming, said it will migrate back to the Ethereum ecosystem as a layer-2 network, making Ronin a general-purpose chain for applications beyond gaming.

The team set a Q2 2026 target for the full migration from being a standalone layer-1 blockchain to an Ethereum layer-2 network.

Ronin team cited the growing ties between institutional investors and Ethereum as a main driver for the decision to migrate back to the Ethereum ecosystem.

Thailand Launches Crypto-to-Baht System Amid Tourism Slump

Thailand will launch a new system on Monday, August 18, allowing foreign tourists to convert cryptocurrency into baht as the government looks for ways to lift a tourism sector hit by falling arrivals.

The initiative, called “TouristDigiPay,” will allow foreign travelers to convert their digital assets into Thai baht through regulated electronic payment channels. However, direct use of digital assets for purchases will not be allowed.

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