TL;DR SHIB is well in the green today (August 13), with some analysts recently suggesting it could be ready to soar to a new all-time high in the near future. However, some critical indicators, including the RSI, hint that the price might cool off in the short term. What Triggered the Rally? Shiba Inu’s price has jumped by over 8% in the past 24 hours and is currently trading at around $0.00001394 (per CoinGecko’s data). Its market capitalization exceeded $8.2 billion, making it the 28th-largest cryptocurrenc y. SHIB Price, Source: CoinGecko Perhaps the most likely reason behind the pump is the broader rally of the digital asset market, more specifically, the meme coin sector. Popular assets of that type, including Dogecoin (DOGE) , Pepe (PEPE), Bonk (BONK), Pump .fun (PUMP), Fartcoin (FARTCOIN), dogwifhat (WIF), and many more have posted double-digit gains on a daily scale. Another factor could be the resurgence of Shiba Inu’s burning mechanism. The burn rate has exploded by almost 50,000% over the last 24 hours, with nearly 90 million tokens sent to a dead wallet. Interestingly, a single transaction comprised around 98% of that amount. The program’s ultimate goal is to reduce the overall supply of SHIB coins, thus making them more valuable in time (assuming demand remains strong). Investors Should Remain Cautious Despite SHIB’s revival and the numerous predictions on X that the price could keep pumping in the short term, people should keep in mind certain indicators that point to a potential pullback. Shiba Inu’s exchange netflow has been positive in the last week, signaling that investors have switched from self-custody methods to centralized platforms. This , in turn, increases the immediate selling pressure. SHIB Exchange Netflow, Source: CryptoQuant The meme coin’s Relative Strength Index (RSI) is also worth monitoring. The technical analysis tool measures the speed and magnitude of the latest price changes, helping traders identify potential reversal points. Typically, readings around and beyond 70 suggest the valuation has increased too much in a short period of time and could be due for correction. Conversely, anything below 30 is considered a buying opportunity. As of this writing, the RSI stands above 62. SHIB RSI, Source: CryptoWaves The post Why Is the Shiba Inu (SHIB) Price Up Today? appeared first on CryptoPotato .
Terraform Labs Founder Do Kwon Pleads Guilty in $40B Crypto Fraud Case | Qubic’s Claim of Monero Majority Hashrate Sparks 51% Attack Concerns | Circle Shares Fall After 10M-Share Secondary Offering Announcement
Federal and international law enforcement officers moved in late July to disrupt the BlackSuit ransomware gang , seizing servers, domain names and roughly a million dollars in cryptocurrency tied to its operations. According to the Justice Department, the action included an unsealed warrant for the seizure of digital assets and was led by Homeland Security Investigations with help from the Secret Service, the IRS and the FBI. International Law Enforcement Action A statement from the Justice Department says investigators worked with partners in the UK, Germany , Ireland, France, Canada, Ukraine and Lithuania to carry out the takedown. Michael Prado, deputy assistant director at the Homeland Security Investigations Cyber Crimes Center, said law enforcement aimed to dismantle the systems that let these groups operate, not just pull a few servers offline. The move followed other recent steps by the US, including sanctions against a ransomware hosting provider in July. Justice Department Announces Coordinated Disruption Actions Against BlackSuit (Royal) Ransomware Operations Law Enforcement Seizes Servers, Domains, and Approximately $1 Million In Laundered Proceeds Owned By BlackSuit (Royal) Ransomware “The BlackSuit ransomware gang’s… pic.twitter.com/EIXS7X0Su3 — National Security Division, U.S. Dept of Justice (@DOJNatSec) August 11, 2025 Scope Of The BlackSuit Campaign Based on reports, BlackSuit first appeared as a spinoff of the Royal ransomware gang and has been active since at least 2023. Officials say the group targeted critical infrastructure across sectors — healthcare, government facilities, manufacturing and commercial sites. Since 2022 investigators have linked the gang to more than 450 known victims in the US and reported that it has received over $370 million in ransom payments. Ransom demands have typically ranged from about $1 million to $10 million in BTC, and Cybersecurity and Infrastructure Security Agency data lists the largest single demand at $60 million. How The Funds Were Traced Reports disclose that a 2023 ransom payment of 49 BTC — worth roughly $1.4 million at the time — was involved in the funds now seized, and that part of that payment was deposited and withdrawn repeatedly from a crypto exchange until the account was frozen in early 2024. The DOJ did not name the exchange. Officials say this kind of tracing and cooperation with private firms is what allowed agents to follow the money trail and secure assets connected to the scheme. This operation removed infrastructure and recovered roughly $1 million tied to a gang accused of hundreds of attacks and hundreds of millions in ransom takings. The clampdown is a strong tactical win and a clear sign that authorities and international partners are working together — but disruption alone won’t stop every attack. Featured image from Bing Create, chart from TradingView
XRP price retests bullish breakout, eyes a 12% price uptick.
Global financial services company Western Union’s acquisition of International Money Express, Inc. (Intermex) is drawing attention from the crypto space, as analysts highlight its potential boost for Ripple and XRP. With Intermex confirmed as an On-Demand Liquidity (ODL) user of Ripple, the deal could strengthen blockchain-powered payment flows across the US while expanding Western Union’s retail and digital reach. Western Union Expansion Could Bolster XRP And Ripple Market expert ‘Xaif Crypto’ pointed out in an X social media post on Monday that Western Union’s $500 million all-cash acquisition of Intermex could have significant implications for Ripple and XRP. According to the analyst, Intermex has been a user of Ripple XRP ODL services since 2020, making it an active player in cross-border payments, particularly across Latin America. Related Reading: Ripple’s XRP Cannot Replace SWIFT? Expert Says This Crypto Is A Better Fit Notably, Western Union announced that it will take over Intermex in a recent press release on August 10. By acquiring Intermex, the international bank is not only gaining a well-established remittance business but also inheriting its Ripple-powered payment infrastructure. Xaif Crypto has stated that this strategic move further positions the company to dominate money flows across all of America. As a result, it marks a significant step toward XRP’s broader objective of achieving global market dominance. Based on reports from the press release, the acquisition could directly strengthen its North American retail operations while expanding its reach beyond Intermex’s historically high-growth Latin American operations. It is also expected to accelerate digital customer acquisition, enabling faster onboarding of Western Union’s payment ecosystem. Moreover, the combination of the international bank’s vast global network and Intermex’s use of Ripple’s ODL could enhance the speed, reliability, and cost-efficiency of transactions, potentially increasing XRP’s utility and adoption in high-volume remittance markets. By leveraging Intermex’s six million customers and strong agent relationships, Western Union is also set to broaden the footprint of Ripple-backed transactions across multiple geographies. This strategic acquisition further aligns with the growing trend of financial giants tapping blockchain technology to remain competitive in the evolving global payments market. This could also give Ripple and XRP a stronger foothold in their mission toward securing a dominant role in worldwide payment systems. Intermex‘s Deal Structure And Growth Outlook Under the agreement, Western Union will reportedly acquire Intermex for $16 per IMXI share in cash, valuing the deal at approximately $500 million in equity and enterprise terms. This figure represents a 50% premium over Intermex’s 90-day volume-weighted average price. Related Reading: XRPL Infrastructure: Ripple CTO Shares ‘Most Useful Thing’ For The Network Officially, the deal has been unanimously approved by both companies’ boards and is expected to close in mid-2026, pending regulatory and shareholder approvals. Intermex’s established brand, operational efficiency, and market expertise will be integrated into Western Union’s extensive network, creating opportunities to work better together. Furthermore, the companies anticipate $30 million in annual run-rate cost savings within two years, with additional revenue potential through expanded product offerings. The acquisition is also expected to immediately boost Western Union’s adjusted earnings per share by over $0.10 in the first full year after closing. Featured image from iStock, chart from Tradingview.com
Summary Circle Internet Group reported strong Q2 revenue, reflecting robust demand for its stablecoin products. Shares have surged since going public a few months ago, but have recently come well off their nearly $300 peak. Despite strong growth, the company trades at a very high valuation compared to partner and crypto peer Coinbase. On Tuesday morning, we received second quarter results from Circle Internet Group ( CRCL ). The stablecoin issuer has seen its shares soar from an IPO price of $31 in early June to nearly $300 at their peak, before coming back to earth very quickly. While the company reported strong overall growth in its top line for Q2, the numbers weren't quite good enough in my opinion, mainly because the stock still trades at a very expensive valuation. Previous coverage of the name I took an early look at Circle back in June after the IPO, at which point I suggested that investors sell the massive rally . With the company not being extremely profitable, potential dilution after going public put the name at a valuation that I was not comfortable with. Since that time, shares have lost more than 10% of their value from their $199 close the day prior to my article being published, whereas the S&P 500 has gained more than 6% and US markets have been racing to new highs. A look at Q2 results As a quick refresher, the company is known most for the stablecoin USDC, which has over $61 billion in circulation. Circle generates a majority of its revenue from interest on the reserves that back the stablecoin. Generally, those reserves are held in low-risk securities like short-term US treasuries and treasury repurchase agreements. As of late Tuesday morning, there was about $65.6 billion in circulation according to Yahoo! Finance data, which is up more than $4 billion since my previous article. For the second quarter of 2025, Circle reported total revenue and reserve income of $658 million. This number was up 53% over the prior year period, and it beat street estimates by more than $13 million. As we often see with companies reporting their first quarter after going public, street analysts are a bit conservative with their estimates. For the quarter, average circulation of USDC was up 86% over the year ago period, but the company's reserve return rate of roughly 4.1% was down 103 basis points from Q2 2024. The main problem I have with Circle currently is its distribution costs, which would be the cost of goods sold for a normal company. Revenues minus these costs only showed 38% growth over the prior year period, 15 percentage points less than the total revenue increase. Essentially, the company's gross margin fell by over four percentage points year over year, and 1.75 points sequentially from Q1 2025. After being at nearly 39% for the first half of this year, management is guiding for this margin number to be at 36% to 38% for the full year, implying a further reduction in the back half of 2025. Bottom line numbers can be extremely messy in the first quarter after going public, as a lot of stock based compensation charges hit the income statement. Circle reported a net loss of $482 million in Q2, driven by almost $600 million worth of non-cash charges. A year earlier, the company delivered a net profit of almost $33 million. The company's balance sheet is quite healthy, finishing June with over $1.1 billion in cash and just about $200 million in debt. The current valuation picture As the company's 10-Q filing states, there were just under 230 million Class A and Class B shares outstanding as of August 8th. With shares at $174 on Tuesday morning, this put the company's market cap at just under $40 billion in total. With more dilution coming from stock based compensation, that number at this given price will rise further moving forward. The company also announced an offering of shares after Tuesday's close. If I were to annualize the Q2 adjusted net profit, Circle shares currently trade for more than 91 times the year's net income. That's a significant premium to partner and fellow crypto firm Coinbase ( COIN ), which goes for about 40 times this year's expected earnings. If I were to look at price to sales for Circle's currently expected revenue , adjusted a little for the Q2 beat, Circle goes for about 15.2 times while Coinbase is at 11.1 times. The average price target on the street is currently $193, implying about 11% upside from current levels, although that number has come down about $30 from late June. Final thoughts and recommendation Circle had a mostly decent first earnings report as a public company on Tuesday. Revenues beat what are usually conservative street estimates, and showed strong yearly growth as the amount of USDC in circulation has soared. Unfortunately, distribution costs are rising even faster, limiting the company's potential bottom line growth. I do think there is the potential for the stablecoin space to grow over time, but I think the company needs to settle into its valuation first. Thus, I'm going to keep my sell rating on the stock for now, given the premium to Coinbase and limited current profitability. I want to see how the company's overall expense structure looks for a more normal quarter, and we have to see if USDC in circulation continues to grow at such a fast rate. Should the valuation come in a little more by the next report, I can look at my rating again then.
The recent surge in the US deficit, now at a record $37 trillion, may lead to quantitative easing, potentially driving Bitcoin’s price to $132,000 by 2025. The US federal debt
Ethereum has witnessed exceptional growth this quarter. It has surged over 8% in the past 24 hours alone to trade above $4,600. But retail traders remain in “disbelief” as the altcoin edges closer to its all-time high, now just 6.3% shy of the $4,891 record from November 16, 2021. Retail Fear Despite the rally, smaller investors have continued selling rather than buying. According to the latest data shared by Santiment, this move echoed a sentiment trend historically linked to price moves opposite retail expectations. While pullbacks followed extreme greed in June and July 2025, current sentiment is dominated by fear, uncertainty, and doubt even as the leading altcoin logs new highs. With larger players steadily absorbing the coins sold by smaller holders, the crypto analytic platform believes ETH has little sentiment-based resistance before potentially climbing to its historic peak and exploring new price levels. Altcoin Vector, for one, observed that Ethereum’s new peak “is only a matter of time,” and when the crypto asset breaks a significant technical barrier, it often sparks a market rotation, where capital flows from Bitcoin or stablecoins into altcoins. This is particularly true for those closely tied to Ethereum’s ecosystem. The platform revealed that ETH’s breakout is not only bullish for itself but also acts as a catalyst for narratives like Liquid Staking Derivatives (LSDs), DeFi protocols, and ETH-Beta tokens. A weekly close above the all-time high would validate the breakout on a higher timeframe, which could potentially lead to more upside pressure and usher in the “next phase” of the cycle. Price Targets Ethereum’s daily transactions have reached a record 1.875 million. This is a “confluence point,” as price approaches a major supply area, while network fundamentals show peak activity. A decisive breakout above $4,750, supported by a steady transaction momentum, could trigger a new price discovery phase. On the other hand, strong seller defense may lead to short-term consolidation or a pullback toward $3,950. Meanwhile, Ethereum’s long-term holder sentiment also shifted from capitulation to belief, which can be a sign of early bullish cycle stages. Experts say that reduced selling pressure and stronger holding behavior set a favorable backdrop for price growth. According to crypto analyst Ali Martinez, ETH’s next hurdles are $5,210 and $6,946, respectively. In terms of other network fundamentals, new smart contract creation hit an all-time high following the Pectra upgrade. As such, continued developer activity, surging DeFi and NFT usage, and record contract growth strengthen the case for Ethereum’s next upward leg toward these resistance targets. The post Ethereum (ETH) Within Striking Distance of 2021 Peak Amid Retail Disbelief appeared first on CryptoPotato .
The ballooning US deficit may lead to an increase in the money supply through quantitative easing, lining up a $132,000 Bitcoin price top in 2025.
OpenAI’s latest artificial intelligence model, GPT-5, was introduced recently with promises to make ChatGPT easier to use and more capable. The company envisioned the new model as a single, all-purpose AI that could decide on its own the best way to respond to any question. But the rollout has not gone exactly as planned. The “model router” approach was meant to replace the long list of selectable AI models, a menu that CEO Sam Altman has said he dislikes. Older OpenAI models make a return On Tuesday, Altman announced on X that GPT-5 now comes with a trio of settings, “Auto,” “Fast,” and “Thinking”, all available in the selection menu. The Auto mode works like the original router system, choosing responses automatically. However, users can now bypass it and pick between faster or slower, more thoughtful AI responses directly. Altman also revealed that several retired AI models are making a return for premium users. GPT-4o, GPT-4.1, and o3, all removed from ChatGPT just last week, are now available again. GPT-4o is visible by default in the menu, while others can be enabled through settings. “We are working on an update to GPT-5’s personality which should feel warmer than the current personality but not as annoying (to most users) as GPT-4o,” Altman posted. He added that feedback from recent days showed a need for more personalized model personalities for each user. The changes mean ChatGPT’s model selection menu is still lengthy, despite earlier plans to simplify it. GPT-5 was expected to build on the success of GPT-4, but its debut has faced challenges. One early controversy came when the company removed older AI models, sparking backlash from users who preferred their unique response styles. Some had grown attached to the tone and mannerisms of those models. Altman said future removals, such as GPT-4o, will be announced well ahead of time. ChatGPT launch day glitches add to frustration Another issue came on launch day, when GPT-5’s router appeared to malfunction. As Cryptopolitan previously noted, users thought that the model didn’t perform as well as earlier versions. Altman addressed the concerns in a Reddit AMA, but some users remain unsatisfied with the new system. Nick Turley, OpenAI’s vice president of ChatGPT , acknowledged the bumpy beginning in a post on X: “We’re not always going to get everything on try no.1 but I am very proud of how quickly the team can iterate.” Routing user prompts to the right AI model is a complex challenge. The system must consider both a person’s preferences and the nature of their question, then choose an AI model within a fraction of a second. But user preferences often go beyond response speed. Some people enjoy more detailed, wordy answers, while others appreciate models that take contrarian stances. In fact, user connections to AI models have shown unexpected depth. Recently, hundreds of people in San Francisco held a mock funeral for Anthropic’s Claude 3.5 Sonnet model after it was shut down. In other cases, chatbots have been linked to unhealthy online behavior, with vulnerable individuals getting drawn into troubling thought patterns. For now, GPT-5’s mission to be the universal AI solution is a work in progress. OpenAI’s challenge will be to balance a streamlined interface with the growing demand for personal choice — and to match user expectations and needs. If you're reading this, you’re already ahead. Stay there with our newsletter .