Crypto Industry News & Market Trends

Standard Chartered to Distribute Hong Kong Stablecoin

Standard Chartered Bank (Hong Kong), or SCBHK, has become the first bank authorized to distribute HKDAP, a regulated Hong Kong dollar-backed stablecoin issued by Anchorpoint Financial.　　On Monday, the bank said it is engaging eligible institutional clients and partners on uses including tokenized fund settlements, treasury operations and cross-border payments during a phased rollout.　　Standard Chartereds addition expands HKDAP distribution into conventional banking nearly two weeks after Anchorpoint began beta access through HashKey Group and OSL. SCBHK said it expects to introduce new commercial applications over the coming months.　　The bank plans to introduce HKDAP-based subscriptions and settlements for tokenized money market funds with international and local asset managers in the fourth quarter. It also intends to use the stablecoin in intragroup settlements across its banking network in the near term.　　“Since Anchorpoint received its stablecoin issuer licence, we have seen strong interest from clients exploring how HKDAP can support their business needs,” SCBHK CEO Mary Huen said in the announcement.　　She added that SCBHKs distribution could support payments, settlement and treasury management while providing eligible clients with access through a regulated banking channel.　　Related: Hong Kong warns of fake stablecoins impersonating HSBC and Anchorpoint　　HKDAP expands distribution　　Anchorpoint is a joint venture established by Standard Chartered‘s Hong

08-25Industry

Bitcoin Crosses $80,000 As Treasury Policy Shift Revives ETF Demand

Bitcoin pushed back above $80,000 for the first time since May, a level that looked far away after the June flush carried the market toward $58,000. The 38% rebound from that low has been driven less by a single catalyst and more by a shift in U.S. Treasury policy that brought ETF buyers back into spot markets, according to the original report.　　That dynamic is different from earlier rallies. For much of the cycle, bitcoins price was explained through halving supply math, ETF approval momentum, or speculative altcoin rotation. This move is tied to the rates complex. When U.S. Treasury conditions ease, the opportunity cost of holding a non-yielding asset drops. Traders who exited in June because the macro setup looked hostile are being forced to reconsider the same trade at higher prices.　　The June flush was not a slow drift. It compressed positioning quickly and left many spot buyers underwater, which made the recovery harder to accept when Treasury signals turned. That is one reason the rally has felt under-owned even as price action improved. Under-owned rallies can extend further than they look, but they also produce sharp reversals when the macro catalyst pauses.　　Treasury Policy Reaccelerates the Recovery　　The Treasury shift matters

08-25Industry

Monad proposes wallet upgrade for passkeys, recovery and quantum security

Monad has proposed a wallet security upgrade that would let users replace lost or outdated cryptographic keys while keeping the same blockchain address and assets.　　According to Monad, the proposal would separate a Monad accounts permanent address from the authentication credentials used to authorize transactions, opening a path for key rotation, social recovery, passkeys and post-quantum security without forcing users to create another wallet.　　A new MIP has been published: Flexible and Upgradeable Account Authentication　　Accounts can change their keys without changing their address　　This lets accounts upgrade to quantum-resistant schemeshttps://t.co/Ajhnr3zwST　　— Monad (@monad) August 24, 2026　　Under the current model used by most Ethereum-compatible wallets, an externally owned account is closely tied to its private key. Losing that key can permanently remove access to the assets held by the account, while adopting a different security method can require users to create another address and transfer their holdings.　　Monad researchers Kushal Babel and Jan Camenisch have proposed changing that relationship so an address could continue to identify the same account even when its authentication credentials are replaced.　　The authors described the design as a way to support “post-quantum accounts, social recovery” and user-friendly authentication methods such as passkeys at the protocol level.　　Monad wallet upgrade separates addresses from keys　　At

08-25Industry

CLARITY Act Senate Cloture Motion Filed by Thune

Senate Majority Leader John Thune filed a cloture motion on the motion to proceed to H.R. 3633, the Digital Asset Market Clarity Act, earlier this month. The same record also shows Thune made the underlying motion to proceed, the procedural step that precedes any cloture vote.　　This is not simply a scheduling notation. It is the mechanism by which the Senate decides whether the CLARITY Act even reaches the floor for debate, a threshold that has stalled prior crypto market-structure bills before they ever got a substantive vote.　　Senator John Thune　　More than two months elapsed between that committee action and the motion to proceed, a gap that reflects competition for floor time rather than any documented objection recorded in the bill‘s action history. Recent analysis of the bill’s Senate passage prospects has flagged that timing, not committee substance, as the binding constraint heading into fall.　　DISCOVER: Best Meme Coins to Buy in 2026　　The CLARITY Act Mechanism: Why 60 Votes, Not 51, Decide the Next Step　　Cloture on a motion to proceed generally requires three-fifths of the Senate, or 60 votes, to end debate over whether the chamber will take up a bill at all. This threshold, standard under Senate procedure, means Republicans need Democratic

08-25Industry

Bitcoin's 'Final Boss' Is Revealed

The 365-day moving average around $83,000, which may prove to be one of Bitcoins most significant technical tests, is now within striking distance of the asset thanks to its comeback. Bitcoin is currently trading between $80,000 and $81,000 after an incredible comeback from the $63,000 to $64,000 range.　　Even more challenges to come　　Several significant moving averages, including the long-term trend line close to $71,850, have already been crossed by Bitcoin on the daily chart. The next significant challenge is just a few thousand dollars away. The 365-day moving average is estimated to be around $83,057 by CryptoQuant.　　BTC/USDT Chart by TradingView　　Because Bitcoin is currently trading below its annual average price, this level merits special attention. Therefore, recovering it would be a much stronger trend signal than breaking a level of short-term resistance. Additionally, the historical chart explains why $83,000 can be considered the “final boss” for Bitcoin right now.　　In the past, the 365-day average was a crucial barrier separating broader bullish and bearish structures. During its significant drop, Bitcoin lost the average and has not yet risen above it. However, there is a lot of risk involved in the immediate setup. The daily RSI for Bitcoin has increased to about 83, indicating

08-25Industry

Tethers $120 million Uruguay mining failure now shadows its next Bitcoin bet in Brazil

Tether‘s abandoned Bitcoin mining venture in Uruguay, where a former contractor estimated spending reached about $120 million across two sites, is casting a shadow over the stablecoin issuer’s smaller renewable-energy pilot in Brazil.　　Related Asset Tether USDT · Stablecoin　　The Uruguay project unraveled after Tethers local entity, Microfin, and state utility UTE disagreed over the terms governing electricity use, Reuters reported. Microfin understood its contracted allocation as a minimum that could be expanded, while UTE treated it as a maximum.　　The dispute was underway by late 2024. Microfin stopped paying power bills in May 2025, notified UTE the following month that it planned to terminate the contracts, and later failed to complete revised terms. UTE disconnected the sites on July 25.　　Related Asset Bitcoin BTC · $79,216.88 24-hour change: up 2.10%　　By November, Tether, the USDT issuer, had notified labor authorities that it would cease operations and lay off most staff. Microfin settled the outstanding UTE debt in December.　　A former contractor estimated Tether spent roughly $60 million at each of the two sites in Uruguays Florida department. The approximately $120 million figure is an estimate of spending, not a confirmed loss disclosed by Tether.　　The collapse contrasts with Tether‘s 2023 launch of the venture, when the

08-25Industry

Bitcoin Price Breaches $81,000 as Bull Market Momentum Builds

Bitcoin surged past $81,000, lifting its market cap to $1.62 trillion. The move wiped out $282 million in short positions over 24 hours—representing 62% of all crypto short liquidations.　　Key TakeawaysBitcoin surged past $81,000 as rumors of U.S. Treasury bond buybacks fueled a broader market rally.Coinglass recorded $282 million in bitcoin short liquidations, driving 62% of crypto market margin wipes.Investor Stanley Druckenmiller warned Treasury Secretary Scott Bessent that yield capping risks market trust.　　Short Sellers Squeezed for $282 Million in Liquidations　　Bitcoin continued its rally, breaching $81,000 as optimism grows over a broader bull market. The digital currencys latest surge came hours after it nearly crossed $80,000 on reports that the U.S. Treasury plans to use a $950 billion General Account to fund bond purchases.　　According to data from Bitstamp, bitcoin peaked at $81,255 at 10:45 p.m. EST on Aug. 24 before retreating and consolidating above $80,500. The jump of more than 4% lifted bitcoins market capitalization to nearly $1.62 trillion and narrowed its year-to-date losses to 8%, down from 9.5% less than 12 hours earlier.　　The bitcoin price action was brutal again for traders shorting the cryptocurrency. Coinglass data showed the price action wiped out $177 million in short bets in four hours, compared

08-25Industry

Germany widens MiCA lead as latest EU register update adds 6 banks

Germany widened its lead in the number of providers licensed under the European Unions Markets in Crypto-Assets Regulation (MiCA), with six of its cooperative banks added in the latest register update.　　The European Securities and Markets Authority (ESMA) updated its MiCA register on Friday, bringing the number of authorized crypto asset service providers (CASPs) to 331.　　Compared with an update from Aug. 12, the six additions were all German cooperative banks: Raiffeisenbank Aidlingen, Ihre Volksbank, VR-Bank Mittelfranken Mitte, Volksbank Euskirchen, VR Bank Ried-Überwald and Volksbank Backnang.　　Germany now accounts for 79 CASPs, ahead of France with 35 and the Netherlands with 29. Germanys total has grown from 57 in late June, when the country already led MiCA authorizations, according to ESMA data previously reviewed by Cointelegraph.　　Germany‘s Federal Financial Supervisory Authority (BaFin) told Cointelegraph in June that the country’s high number of MiCA authorizations partly reflects its large financial sector and the number of credit institutions eligible to offer crypto services. BaFin also pointed to Germanys pre-existing national licensing regime, which gave some CASPs access to simplified authorization procedures during the transition to MiCA.　　ESMAs asset-referenced token (ART), electronic money token (EMT) and non-compliant entity datasets were unchanged. The ART register remained empty, the EMT

08-25Industry

Bitget CEO isn‘t buying the Bitcoin rally — She’s waiting for $50K

Bitget CEO Gracy Chen isn‘t convinced that Bitcoin’s recent rally to $79,000 marks the end of the bear market.　　She is keeping a significant portion of her portfolio in stablecoins and watching for a drop of more than $25,000 from current prices as a potential level to buy back into Bitcoin. “I would say $50K is the number that Im looking at for my personal Bitcoin buyback sort of price,” Chen tells the Trade Secrets show.　　That being said, Chen isn‘t claiming to have any special insight into where Bitcoin’s notoriously unpredictable price is headed. She also thinks its possible Bitcoin could end the year $20,000 higher.　　“I‘m just an exchange CEO,” Chen laughs. “We are not good at analyzing Bitcoin price. We’re just good at providing a trading platform for all the analysts and traders to trade,” she adds.Gracy Chen isn’t expecting Bitcoin to be up only from here. (CoinMarketCap)　　Chen is also far from alone in expecting Bitcoin to potentially move lower, despite Bitcoin being up more than 20% in the past week.　　Transform Ventures founder Michael Terpin told Trade Secrets at the beginning of August that “we still have more pain to go.” Terpin believes that Bitcoin will ultimately fall “66%” from

08-25Industry

Big Investors Admit Bitcoin Rally Signals Capital Fleeing an Overheated AI Trade

Bitcoin (BTC) just posted its strongest three-day rally since 2023, and two prominent investors now say the move reflects capital finally leaving an overheated artificial intelligence (AI) trade.　　There has been much speculation about the role AI investing has played in Bitcoins own market. Now, with this rally, and concerns over an AI bubble, many are noting thw way the capital is rotating.　　Big Names Now Confirm the Shift　　Analysts have flagged this possible shift for months without confirming it was happening. Research firm K33 warned in June that Bitcoin was losing ground as institutions chased AI returns instead.　　Sponsored　　Sponsored　　Investor Steve Eisman went further in July, saying he had sold his Google position to cut AI exposure, warning the entire market had become one crowded trade. Then, in late July, veteran macro investor Jordi Visser argued that AIs easy-money phase was ending and that Bitcoin stood to benefit next.　　Bill Miller IV, chairman and chief investment officer at Miller Value Partners, is now making the same case with fresh conviction. His comments this week, paired with Vissers, mark two of the clearest signals yet from named, established investors that the rotation out of AI and into Bitcoin is actively underway, not just theorized.　　He pointed to

08-25Industry

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