COINOTAG reported on August 21 that, according to on‑chain monitoring by Ember Group, a whale/institution moved 400 WBTC to Hyperliquid within a three‑hour window, triggering an on‑platform disposition. The transfer
Famous American rapper Kanye West, who previously made news that he would launch his own token and even partner with Binance founder CZ for this token, announced the launch of his Solana (SOL)-based token called “YZY”. The price of YZY experienced a meteoric rise in just a few hours, reaching an all-time high of $3.16. However, it quickly fell back to the $1 level. According to GMGN data, the token's market capitalization has surpassed $3 billion. The six largest holders collectively control 90.38% of the token's supply. “Yeezy Money is here… A new economy built on chains,” West X said in a post on his account. West also included an image showing YZY's address and a link to a website where people can buy, sell and send YZY. “YZY Money is a concept that aims to give you control without relying on a central authority,” the website states. In addition to the YZY token, the project's official website also features a crypto payment processor called YE Pay and a debit card tool called YZY Card. It was stated that 70% of YZY’s total supply will remain under Kanye West’s control, while the remaining 30% will be shared between liquidity (10%) and investors (20%). This mirrors the trends of other famous coins, such as the TRUMP memecoin, which has encouraged West to join the crypto world. Analysts Warn About AGI! While YZY has garnered significant interest, analysts have warned that its liquidity pool is built solely using its own token, rather than being backed by a stablecoin like USDC. This, they said, opens the door to potential price manipulation by developers in the future. Coinbase's Conor Grogan also warned that 94% of Kanye West's YZY token is held by insiders. Coinbase Director of Product Strategy Conor Grogan said in a post on X that he estimates that at least 94% of YZY, Kanye West's new Solana-based memecoin, is held by company insiders. According to Grogan, 87% of YZY was initially held in a single multi-signature wallet before being split across multiple addresses, more than 3% was purchased in a single transaction by prepared wallets at market open, and approximately 7% was added to liquidity pools (LPs). *This is not investment advice. Continue Reading: Famous American Rapper, Who Was Allegedly Involved in Partnership with Binance Founder CZ, Launches His Own Altcoin! But Analysts Warn!
Rapper Kanye West, now legally known as Ye, has officially stepped into crypto. On Wednesday, the business mogul launched YZY, a Solana-based meme coin that briefly touched a $3 billion market cap within hours of its debut before rapidly shedding value. The launch, billed by Ye himself as the start of “a new economy, built on chain,” comes just months after he publicly dismissed rumors of creating a token. A New Economy or a Familiar Scheme? The token’s rollout has already stirred some controversy, with journalist Colin Wu sharing data from the GMGN trading platform, which allegedly shows that 90% of its supply is in the hands of just six wallets, raising concerns about heavy concentration and insider activity. Blockchain trackers also flagged suspicious liquidity pool setups reminiscent of the Libra coin rug pull from earlier in the year, where developers retained disproportionate control of liquidity. Additionally, Lookonchain reported that one insider flipped $450,000 worth of USDC into $3.37 million in just hours, highlighting how early entrants capitalized on privileged access. However, even with the skepticism, Kanye’s star power shone, with YZY quickly listed on CoinMarketCap while also securing exchange listings, including Bitget. Furthermore, the official site introduced not only the token but also Ye Pay, a crypto payment processor, and YZY Card, a debit solution aimed at everyday spending in YZY and USDC. It also indicated that the supply breakdown allocated 70% to Yeezy Investments LLC, 20% to public buyers, and 10% to liquidity, with vesting handled by Jupiter Lock contracts. Nonetheless, community sentiment on the meme coin is split. Pseudonymous crypto trader Defi Mochi warned that YZY’s fully diluted valuation between $2 and $3 billion was “bad risk-reward” given the fate of other meme tokens, while also pointing to suspicious timing tied to unfrozen Libra funds. Meanwhile, CryptoQuant CEO Ki Young Ju drew comparisons to the Official Trump token, which spiked after launch but later collapsed by 88%, suggesting YZY may face a similar trajectory. Price Action and Market Outlook Data from CoinMarketCap shows YZY hit an all-time high of $3.16 within hours of its introduction before tumbling more than 66% to just under $1.00, briefly marking its all-time low at $0.91 the same day. In the last 24 hours, the meme asset has dropped over 54%, with hourly swings as sharp as 31%. At the time of this writing, its market cap had nosedived from its previous multi-billion-dollar peak to sit at around $349 million according to CMC. Traders have been both long and shorting the token aggressively. Spot On Chain reported one trader on Hyperliquid managed a $202,000 gain by shorting the token with leverage, while another repeatedly attempted long positions, racking up more than $159,000 in losses. The post Kanye West Launches YZY Meme Coin on Solana, Hits $3B Before Crash appeared first on CryptoPotato .
BitcoinWorld Critical Update: Bithumb Designates SOFI as Closely Monitored Asset In a significant development for the cryptocurrency community, South Korean crypto exchange Bithumb recently announced a crucial decision. They have officially designated RAI Finance (SOFI) as a SOFI closely monitored asset . This move signals a serious review of the project’s health and operational transparency, impacting investors and the broader market alike. What Does SOFI Closely Monitored Asset Status Mean? When a major exchange like Bithumb labels an asset as ‘closely monitored,’ it’s a clear signal to the market. This status indicates that the exchange has identified specific concerns regarding the project behind the asset. It’s not an immediate delisting, but rather a warning sign, placing the asset under intensified scrutiny. For users, this means increased risk and uncertainty. Bithumb’s decision follows a thorough review process, highlighting the exchange’s commitment to protecting its users and maintaining market integrity. Therefore, understanding the implications of this status is vital for anyone holding or considering trading SOFI. Why Was SOFI Designated a Closely Monitored Asset ? Bithumb’s official announcement detailed several key reasons for placing SOFI under close monitoring. These concerns primarily revolve around the project’s fundamental health and operational transparency. The exchange specifically cited: Deficiencies in Business Reality: Questions arose regarding the actual progress and viability of RAI Finance’s stated business model. Sustainability Issues: Concerns were raised about the long-term sustainability of the project, including its economic model and ability to maintain operations. Operational Progress Lags: Bithumb observed insufficient progress in the project’s development and operational milestones. Insufficient Transparency: A lack of clarity in project communications and financial dealings was noted. Irrational Business Plan Changes: Changes to the project’s business plan were deemed lacking in rationality and proper justification. These points collectively paint a picture of a project struggling to meet the standards expected by a leading cryptocurrency exchange. The designation as a SOFI closely monitored asset is a direct consequence of these identified shortcomings. Implications for SOFI Holders and the Market The designation of SOFI as a closely monitored asset carries significant weight. For current holders of SOFI, this status introduces considerable uncertainty and potential volatility. Historically, such announcements can lead to price declines as investors react to the increased risk. Moreover, this status often precedes more severe actions, such as a warning designation or even delisting, if the project fails to address the identified issues. Therefore, it is crucial for investors to stay informed and consider their positions carefully. The broader market also observes these actions, as they reflect on the due diligence practices of major exchanges like Bithumb. Navigating the Future of SOFI: What Should You Do? If you are holding SOFI, it’s natural to feel concerned. Here are some actionable insights to consider: Stay Informed: Regularly check Bithumb’s official announcements and RAI Finance’s updates. Transparency from the project will be key to resolving this status. Assess Your Risk: Evaluate your personal risk tolerance. Given the increased uncertainty, you might consider reducing your exposure to the SOFI closely monitored asset . Diversify: Never put all your eggs in one basket. Diversifying your crypto portfolio can help mitigate risks associated with single assets. Understand the Process: Familiarize yourself with Bithumb’s monitoring and delisting policies. Knowing the potential next steps can help you prepare. Ultimately, the onus is on RAI Finance to demonstrate significant improvements in their business reality, sustainability, and transparency to have the SOFI closely monitored asset status lifted. Until then, caution is advised. In conclusion, Bithumb’s decision to designate SOFI as a closely monitored asset underscores the importance of rigorous due diligence in the crypto space. This move highlights the exchange’s role in safeguarding investor interests by flagging projects that fall short of operational and transparency standards. For SOFI, this is a critical juncture, demanding immediate and substantial corrective action to regain trust and stability. The future of SOFI on Bithumb, and potentially other exchanges, now hinges on its ability to address these profound deficiencies. Frequently Asked Questions (FAQs) Q1: What does ‘closely monitored asset’ mean on a crypto exchange? A ‘closely monitored asset’ status means an exchange has identified significant issues with a cryptocurrency project, such as deficiencies in business operations, sustainability, or transparency. It’s a warning signal that the asset is under intense review and could face further action, including delisting, if the problems are not resolved. Q2: Why did Bithumb specifically designate SOFI as a closely monitored asset? Bithumb designated SOFI due to identified deficiencies in RAI Finance’s business reality, sustainability, and operational progress. Additionally, concerns were raised about insufficient transparency and rationality in changes to its business plan. Q3: What are the potential consequences for SOFI after this designation? The primary consequence is increased risk and uncertainty for SOFI holders. The asset’s price may become more volatile. If RAI Finance fails to address Bithumb’s concerns, the asset could face a ‘warning designation’ or, ultimately, delisting from the exchange. Q4: Should I sell my SOFI holdings immediately? The decision to sell or hold SOFI depends on your individual risk tolerance and investment strategy. It is crucial to stay informed about official announcements from Bithumb and RAI Finance. Consider consulting a financial advisor to make an informed decision based on your personal circumstances. Q5: How can I stay updated on SOFI’s status? To stay updated, regularly check Bithumb’s official website announcements and RAI Finance’s official communication channels. Reputable crypto news outlets will also report on significant developments regarding the SOFI closely monitored asset status. Did you find this article insightful? Share it with your friends and fellow crypto enthusiasts on social media to help them understand the implications of Bithumb’s decision regarding SOFI! To learn more about the latest crypto market trends, explore our article on key developments shaping the cryptocurrency space price action. This post Critical Update: Bithumb Designates SOFI as Closely Monitored Asset first appeared on BitcoinWorld and is written by Editorial Team
Binance has joined the Beacon Network as a founding member, aligning with TRM Labs and industry peers to operationalize a first-of-its-kind, real-time cryptocurrency crime-fighting platform. The initiative leverages continuous intelligence
Summary I rate ETH a buy, citing bullish fundamentals, strong technicals, and supportive macro trends for a year-end rally. Regulatory clarity from the GENIUS Act and SEC's Project Crypto boost legitimacy and institutional adoption of Ethereum. Retail and institutional interest in ether is rising, with Google Trends and ARK Invest's positions signaling growing momentum. ETH's technical setup is attractive, with $4100 as key support; a breakout above $4866 could trigger significant upside into 2025. Earlier this month, I outlined a cautious near-term stance on bitcoin . I own the iShares Bitcoin Trust ETF ( IBIT ) and recently took a position in the iShares Ethereum Trust ETF ( ETHA ). Today, I’m analyzing ether, the native cryptocurrency of the Ethereum network. To preface, I am not a crypto expert, but I like to think I’m savvy with charts and broader macro trends. So, let’s take a look at the Grayscale Ethereum Mini Trust ETF ( ETH ). I have a buy rating on the product. I see a slew of bullish fundamental developments in recent months, while the chart sets up well for a year-end rally. You might recall that Fundstrat’s Tom Lee sent shockwaves across the investment world in August, calling for a $10,000 to $12,000 price target by the end of 2025. I’m not sure if I see that much upside, but with ether tagging key support, I think a bounce is quite likely over the ensuing months. ETH-USD, Bitcoin Outpacing the S&P 500 YTD StockCharts.com According to the issuer , ETH is solely and passively invested in ether. Its investment objective is to reflect the value of ether held by the Fund, less expenses and other liabilities. Ether is a digital asset that is created and transmitted through the operations of the peer-to-peer Ethereum Network, a decentralized network of computers that operates on cryptographic protocols. The Ethereum Network allows people to exchange tokens of value, called ether, which are recorded on a public transaction ledger known as a blockchain. ETH is a moderate-sized ETF with $2.9 billion in assets under management as of August 19, 2025. Its annual expense ratio is low at just 15 basis points, and there is, of course, no yield. The fund’s share price momentum is very strong, earning it a stellar A+ ETF Grade in that category by Seeking Alpha’s quantitative scoring system. Historical standard deviation metrics are very high, however, so it is a highly risky product . Finally, from a liquidity perspective , tradability is solid—average daily volume is above 3 million shares, while the 30-day median bid/ask spread is just three basis points per Grayscale. Now, turning to the bullish catalysts. In July, President Trump signed the GENIUS Act into law, effectively standardizing digital currencies, paving the way for wider adoption. Its passage helped bring about a fresh wave of crypto buying, with particular gains in ether. The Act brings clarity and legitimacy for stablecoins, specifically, and that should open the floodgates for wider crypto volumes, along with more institutional usage of blockchain technology and networks. The GENIUS Act's Passage Was A Watershed Moment For Crypto The White House At about the same time, the US Securities and Exchange Commission (SEC) embarked on its Project Crypto. Its aim is to establish a regulatory framework for crypto trading by giving guidance to big banks and other firms to merge onto the blockchain. The SEC will coordinate with the US Commodities Futures Trading Commission (CFTC) to offer further directives and rulemaking across the cryptosphere. The SEC Launches "Project Crypto" SEC With this regulatory lattice taking shape, one of ether’s biggest champions, Cathie Wood of ARK Invest, has outlined her bull case. She sees Ethereum becoming the primary institutional protocol. ARK ETFs have reportedly taken sizable stakes in ether, too. Cathie Wood Takes a "Solid Position" in ETH-USD X Tom Lee and Cathie Wood are obviously on board, but how is retail interest? It’s perking up, at least according to Google Search trends. Around the world, there has been a major jump in searches for “Ethereum” and “eth.” Thus, I assert that dips will be buying opportunities, particularly if we see a new all-time high in ether (more on that to come). The FOMO effect could take root. Google Trends: Ethereum and ETH Shoot Higher This Summer Google As far as large global portfolio managers’ holdings, crypto is just a small piece of the pie. According to the August 2025 BofA Global Research Global Fund Manager Survey, just 9% of investors own crypto assets of any kind. The average crypto allocation among that small group is just 3.2%. While the entire cryptocurrency market cap is only near $4 trillion, investors remain lightly allocated to the niche. BofA FMS: Light Allocation to Crypto BofA Global Research Seasonally, ether has tended to trade poorly in September, so this is a notable risk heading into the end of the third quarter. ETH-USD: Weak September Seasonality Barchart The Technical Take As regulatory frameworks get enacted and institutions begin to embrace ether, the technical situation offers a solid opportunity today, in my opinion. Notice in the chart below that ETH-USD pulled back to key support at the previous resistance level of $4100. I, in fact, added ether exposure on Tuesday, so I’m putting my money where my mouth is. Still, I’d like to see the world’s second-largest cryptocurrency climb above its November 2021 all-time high of $4866. If that were to occur, then Tom Lee’s forecast of a five-figure price could come into play. Another potential price target is near $6800. Here’s how I calculate that: If we take the $2700 depth of the December 2024 to April 2025 plunge and add that on top of the $4100 breakout that took place recently, then we get $6800. I like that the long-term 200-day moving average is back on the rise, while a high amount of volume by price is now below the current level. Moreover, take a look at the RSI momentum oscillator at the top of the graph—it is ranging in a bullish zone between 40 and 90, just as price retreats to the polarity point. For now, $4100 is support, and $4800-$4900 is resistance. ETH-USD: $4100 Critical Support, All-Time High Remains Resistance StockCharts.com The Bottom Line I have a buy rating on ETH, the low-cost ether ETF. I view it as just as solid as ETHA, which I bought this week. Given wider Ethereum adoption and bullish technical signals, this highly volatile cryptocurrency appears poised for gains into the end of 2025.
Kanye West launched the YZY digital token on Solana blockchain, reaching $3 billion briefly. YZY Money aims to empower users independently, employing unique mechanisms for fair distribution. Continue Reading: Kanye West’s Bold Move: YZY Digital Token Launch Ignites Crypto Market Excitement The post Kanye West’s Bold Move: YZY Digital Token Launch Ignites Crypto Market Excitement appeared first on COINTURK NEWS .
Tether has named Robert “Bo” Hines as Strategic Advisor for Digital Assets and U.S. strategy to accelerate Tether’s U.S. expansion, strengthen regulatory engagement, and support planned U.S.-focused stablecoins. The move
Victoria, Seychelles, August 21st, 2025, Chainwire Bitget , the leading cryptocurrency exchange and Web3 company, has announced the launch of SAPIENUSDT for futures trading, now available with a maximum leverage of 50x. The listing went live on August 21, 2025 (UTC+8) and is also supported by Bitget’s futures trading bots, offering users enhanced trading automation and flexibility. The newly listed contract pairs the digital asset SAPIEN with USDT and is available around the clock. Key trading parameters include a tick size of 0.00001, funding fee settlements every four hours, and full support for Bitget’s trading infrastructure, including access via the official website and mobile application. Bitget may periodically adjust contract specifications such as tick size, leverage limits, and margin requirements in response to market conditions. These changes aim to ensure market stability and maintain optimal risk control across its derivatives offerings. Bitget’s futures platform supports a comprehensive suite of derivatives including USDT-Margined Futures, Coin-Margined Futures, and USDC-Margined Futures. USDT-M Futures enable users to utilize a unified margin system with USDT as collateral, allowing simultaneous trading across multiple contracts under shared account equity and risk profiles. The launch of SAPIENUSDT reaffirms Bitget’s continuous efforts to expand its derivatives ecosystem and provide diversified tools for both institutional and retail traders seeking precision, leverage, and liquidity in volatile markets. For more details on Sapien, visit here . About Bitget Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price , Ethereum price , and other cryptocurrency prices. Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform. Bitget is driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA , in EASTERN, SEA and LATAM markets. Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. In the world of motorsports, Bitget is the exclusive cryptocurrency exchange partner of MotoGP , one of the world’s most thrilling championships. For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet For media inquiries, please contact: media@bitget.com Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use . Contact Simran Alphonso media@bitget.com
Cardano price today is at $0.88, down 0.3 percent, consolidating near the 20-EMA zone. Smart Money Concepts show BOS and CHoCH signals, with sellers defending the $0.93 area. RSI at 46 reflects neutral momentum, keeping ADA rangebound between $0.85 and $0.93. Cardano price today is hovering at $0.88, easing 0.3 percent in the last session. The token can’t get past the $0.93 resistance zone, and buyers are still protecting support around $0.85. The immediate context shows that the price is staying above the 50-day EMA at $0.79, which means that the short-term structure is still in place even though there have been some recent pullbacks. ADA Price Update and Chart View Cardano price analysis (Source: TradingView) Smart Money Concepts show a recent Change of Character (CHoCH) on the daily chart after a Break of Structure (BOS). This shows that bears are still active in the $0.93–$1.00 range. The weak high near $0.99 shows that there is a lot of supply, and the downside liquidity is at the $0.85 and $0.79 levels, where several EMAs meet. Cardano price analysis (Source: TradingView) The 4-hour chart gives more context, showing that ADA is moving insi… The post Cardano (ADA) Price Prediction for Today appeared first on Coin Edition .