Cardano and XRP market decline on August 21, 2025 saw sharp intraday losses as traders reacted to broader altcoin pressure; Cardano price drop and XRP price drop pushed both projects
India’s top tax authority is actively engaging crypto platforms on tax rules, signaling momentum toward a potential dedicated framework that could redefine taxation, oversight, and market competitiveness. India Evaluates Crypto Market Taxation Amid Industry Demands for Policy Reform The Central Board of Direct Taxes (CBDT), India’s top direct tax authority, reportedly reached out to domestic
COINOTAG News (Aug 21), citing Onchain Lens monitoring, reports a whale/institution executed a block sale of 10,000 ETH for about $43.35 million via Wintermute OTC roughly four hours ago, then
Pension funds' interest could significantly boost Bitcoin's value, notes Bill Miller IV. Bill suggests 2% investment from funds might push Bitcoin to $175,000. Continue Reading: Bill Miller IV Highlights a Potential Bitcoin Surge Due to Pension Funds The post Bill Miller IV Highlights a Potential Bitcoin Surge Due to Pension Funds appeared first on COINTURK NEWS .
OpenAI is exploring a potential new revenue stream: renting out its AI-ready data centers and infrastructure to companies needing massive computing power. The idea mirrors Amazon’s early move into cloud computing nearly two decades ago, when it began offering excess capacity to outside businesses. That experiment evolved into Amazon Web Services (AWS), now a multibillion-dollar powerhouse and a cornerstone of the modern internet. For OpenAI, the logic is similar. The company has poured resources into cutting-edge chips, servers, and cooling systems to power its large-scale AI workloads. Allowing others to rent that infrastructure could open the door for startups and smaller firms to access high-performance computing without building it themselves—while creating a lucrative business line for OpenAI. Still, Chief Financial Officer Sarah Friar emphasized the idea remains speculative. With demand for ChatGPT and other AI products soaring, OpenAI’s immediate priority is securing enough capacity for its needs. In a recent interview, Friar confirmed the company isn’t actively pursuing the plan yet but sees it as a possible opportunity in the future. CFO eyes infrastructure leasing down the road OpenAI has become good at building data centers tailored for artificial intelligence. This know-how could be productized. Friar said that OpenAI is trying to take more control of its infrastructure design instead of relying on external vendors , cautioning that if the company only purchased equipment from others, it would risk giving away its intellectual property. The company has raised tens of billions for ultrapowerful AI chips and facilities. Its Stargate project with SoftBank and Oracle promises to construct some of the largest data centers in the world, in the United States and beyond. Excitement is running high after CEO Sam Altman promised ambitious plans, saying that people should expect OpenAI to spend trillions of dollars on infrastructure shortly. He added that the company is working on an interesting new financial instrument to fund these mega-projects, though he did not provide further details. Until now, OpenAI has depended on Microsoft and the technology company Oracle to cover most of its infrastructure costs . But Friar said banks and private equity firms are now piling in, providing debt financing. In addition to debt, the company is considering innovative financing mechanisms. But even with such aspirations, OpenAI still loses money. Data centers and GPUs are very expensive. But growth is rapid. In July, the firm surpassed a $1 billion monthly revenue for the first time — buoyed by surging global demand for ChatGPT and its enterprise tools. Altman frames bold plans, warns of AI hype Despite his push for massive spending, Altman has also acknowledged that AI may be in a bubble. In an interview last week, he compared the current enthusiasm to the dot-com era, noting that smart people often go overboard on a kernel of truth. Still, expansion is moving ahead. The project, Stargate, is a $500 billion joint venture and is already starting with projects in the US, Norway, and the UAE. The aim is to secure AI capacity to a level no company has ever achieved. Altman has suggested we need 100 million AI GPUs to power future models. It could cost $3 trillion. For reference, that’s more than the GDPs of many countries. According to recent accounts, OpenAI is reportedly gearing up for a second stock sale. It would enable current and former employees to cash out their shares at an estimated valuation of around $500 billion. That would be almost double its last disclosed valuation of $300 billion, in a financing round by SoftBank. Investor appetite remains strong. OpenAI secured $41 billion in its latest round, exceeding its initial goal of $40 billion because of strong demand. Want your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.
On Aug. 21, COINOTAG reported that on-chain monitoring service Onchain Lens recorded a 76.56 ETH transfer from Coinbase to an address associated with the U.S. government, valued at approximately $332,000.
Crypto market pullback: Bitcoin and Ethereum led a roughly $200 billion decline this week as capital rotated into blue chips and out of smaller tokens, cooling altseason momentum. BTC’s market-cap
Crypto payments are digital transfers using stablecoins, smart contracts and distributed ledgers to settle transactions. Federal Reserve Governor Christopher Waller says the technology will drive innovation in the US payments
COINOTAG News on August 21 reports that on-chain analyst Cinder flagged an address which previously sold 4,957 ETH on August 15 at an average price of $4,464, and later executed
In a thread on August 19, analyst Miles Deutscher argued that MicroStrategy’s market-implied net asset value (mNAV) premium—the core gear in Michael Saylor’s Bitcoin acquisition flywheel—has compressed sharply, weakening the feedback loop that helped the company outpace Bitcoin through most of the cycle. “Michael Saylor built the craziest BTC flywheel in history. But his buying power is starting to fade. The market is now asking one question: ‘Is the BTC treasury bubble finally popping?’” MicroStrategy’s Bitcoin Premium Is Fading Deutscher grounds the discussion in how investors currently value MicroStrategy. “People often overlook that MicroStrategy has a legacy software business, which continues to generate revenue. However, MicroStrategy has essentially become a company whose valuation is primarily influenced by its BTC holdings. The entire system is powered by mNAV (Market-Implied NAV).” In practical terms, the mNAV multiple is the premium investors pay over the company’s look-through Bitcoin value to access leveraged BTC exposure via MSTR. “An mNAV of ~1.58x means the market is paying a 58% premium for their BTC.” According to Deutscher, that premium “was once a 3.4x mNAV” when Bitcoin was surging, but it has “now decreased to 1.58x. Demand is slowing down.” In other words, what had been a powerful flywheel—high premium enabling cheap equity issuance that funded more Bitcoin purchases, which in turn kept NAV rising and the premium elevated—now spins with much less torque. Related Reading: Crypto Founder Predicts The Collapse Of Bitcoin In This Timeframe That shift intersected with a contentious corporate action. “Recently, Saylor sparked controversy by revealing that Strategy had revised its MSTR Equity ATM Guidance to offer greater ‘flexibility’ in executing its capital markets strategy.” The implication, Deutscher argues, is that greater issuance flexibility “may dilute shareholder value and increase financial risk tied to Bitcoin’s volatility.” He notes that “the market is quite divided” on the change. On the constructive side, he quotes @thedefivillain’s take—“Slower concentration of supply in Saylor’s hands,” “Greater leverage to justify mNAV,” and “Reduced buying pressure for BTC in dollar terms”—as reasons the revision could ultimately be benign. But critics worry about “the possibility of a ‘death spiral.’ The removal of the 2.5x mNAV safeguard for equity issuance may allow MicroStrategy to sell shares at lower valuations.” Reflexivity, in Deutscher’s telling, is the operative risk factor: “Reflexivity is a brutal force that operates in both directions.” A Hypothetical Scenario Deutscher then sets up a stress-test to illustrate how that reflexivity could bite if Bitcoin weakens and the premium compresses to parity. “If BTC’s price drops 20% and MicroStrategy’s mNAV multiple falls to 1.0x, the stock might plummet by 46.5%.” He walks through the arithmetic from a notional baseline of $115,000 per BTC, which on a 20% decline would fall to $92,000. On MicroStrategy’s “226,331 BTC,” he calculates that would put look-through NAV at $20.82 billion. To align an mNAV of exactly 1.0x, he backs into enterprise value and market cap under that scenario: “Starting with an enterprise value of $20.82 billion, we subtract MicroStrategy’s $2.2 billion in debt and add its $0.1 billion in cash. This calculation unveils the company’s market cap, hitting $18.72 billion, a significant pullback from its original $35 billion market cap.” Related Reading: Bitcoin Bull Run Hinges On Trump’s Pick For Fed Chair: Analyst The conclusion he draws from the modeled path—BTC −20% to ~$92,000, mNAV → 1.0x, MSTR market cap −46.5%—is that MicroStrategy’s equity remains a leveraged instrument with an outcome path that can be materially worse than Bitcoin itself when the premium compresses. Beyond the scenario math, Deutscher links recent spot price action to changing marginal demand. “I think BTC’s recent weakness can be attributed to the market starting to price in reduced Saylor demand/tail potential risk of the revised ATM guidance.” In parallel, he highlights how the proliferation of spot ETFs erodes the original rationale for paying a large listed-company premium to own BTC “beta”: “Spot Bitcoin ETFs are plentiful now. Why would you pay a 58% premium for MSTR’s leveraged exposure when you can grab IBIT at a clean ~1.0x NAV?” By his framing, the mNAV premium itself “was indicative of the market’s view that MSTR was going to outperform BTC.” With that view fading, the premium looks less like an enduring structural feature and more like a belief-sensitive variable. “In my opinion, the MSTR premium is essentially a gamble. You’re betting on three fragile things: unwavering market confidence, open capital markets, and Saylor’s leadership. If any of those pillars start to wobble, the premium collapses.” At press time, BTC traded at $113,624. Featured image created with DALL.E, chart from TradingView.com