Author: John Smith

Ethereum price rebounded from $1,850 to trade above $1,900 on Aug. 12 as softer U.S. inflation data supported risk appetite and buyers returned near a key support zone. Summary Ethereum price rose about 3% from $1,850, reaching an intraday high near $1,918. ETH reclaimed its 20-day and 100-day moving averages, strengthening the short-term recovery. 4-hour resistance sits at $1,925, followed by a large liquidation cluster around $1,950. Losing $1,887–$1,890 could expose $1,850 and weaken the latest bullish setup. Ethereum price action today According to data from crypto.news, Ethereum (ETH) price traded near $1,916 at the time of writing after moving…

Fidelity has moved to add Ethereum staking and quarterly cash distributions to its $898 million Fidelity Ethereum Fund, with the trust allowed to stake as much as 100% of its ETH under normal conditions. Summary Fidelity plans to add Ethereum staking and quarterly cash payouts to its $898 million Fidelity Ethereum Fund. FETH could stake up to 100% of its ETH under normal conditions while keeping enough ether available for liquidity needs. The fund would retain 85% of gross staking rewards, with the remaining 15% going to the sponsor, custodians and node operators. Net staking rewards would first cover fund…

SBI Digital Practice and South Korea’s Nodeinfra agreed to jointly develop a cross-border payment and settlement network between Japan and South Korea using Canton Network infrastructure.  Summary SBI and Nodeinfra will test yen and won payment tokens before introducing regulated stablecoins commercially. Project Musubi will use Canton Network for atomic payment-versus-payment settlement and distributed peer netting initially. SBI Digital Practice will connect Japanese financial institutions while Nodeinfra builds settlement protocols and tooling. Japan already has SBI’s JPYSC, while South Korea is still developing won stablecoin legislation domestically. The partners plan eventual expansion beyond Japan and South Korea into additional currencies…

Ripple has renewed support for New York University Abu Dhabi’s blockchain research program, extending its University Blockchain Research Initiative partnership through 2027.  Summary Ripple renewed NYU Abu Dhabi blockchain research funding, extending UBRI support through 2027 for researchers. NYU Abu Dhabi says the grant supports Volta expansion, fintech education, venture development and research. Ripple said total funding for its NYU Abu Dhabi partnership exceeded $1 million during 2024. Volta uses blockchain infrastructure to support trade among smallholder farmers in Ghana, with expansion planned. Ripple’s UBRI spans more than 60 universities across 27 countries and 1,500 research projects. NYU Abu Dhabi…

Nasdaq agreed on Aug. 11 to acquire all equity interests in LeveL Markets LLC, adding one of the largest U.S. alternative trading systems to a broader strategy built around longer trading hours, tokenized securities and digital market infrastructure.  Summary Nasdaq agreed to acquire LeveL Markets, the third largest U.S. alternative trading system by volume. LeveL reaches more than 2,500 clients and trades across more than 7,000 symbols each day. Nasdaq created Digital Liquidity Networks to combine tokenization, liquidity platforms and digital asset technology capabilities. The SEC approved Nasdaq tokenized securities rules in March, then longer trading hours during April. LeveL…

Spritehood has sold 42,956 paid NFTs on Robinhood Chain in about 53 minutes, generating nearly $1.28 million for Pudgy Penguins co-founder Cole Villemain. Summary Paid buyers minted 42,956 Spritehood NFTs priced at either $17 or $117. The sale generated about $1.283 million, equal to roughly 684.28 ETH at the mint price. Another 1,488 NFTs were distributed free, bringing the reported collection total to 44,444. Spritehood’s Blockscout contract page displays unverified source code, limiting public review of its mechanics. Spritehood NFT sale reached $1.28 million The Defiant reported that Villemain launched Spritehood on Aug. 11 after previously being removed from the…

Chicago Fed President Austan Goolsbee has identified inflation above the Federal Reserve’s 2% target as the main U.S. economic problem while officials debate whether to raise rates from 3.50%–3.75%. Summary Goolsbee called inflation the economy’s biggest problem, while describing the labor market as stable but weak. The Fed held rates at 3.50%–3.75% in July, with three officials backing a 25-basis-point increase. Economists expect July headline and core CPI to slow to 3.4% and 2.5%, respectively. Bitcoin fell into the low-$63,000 range as oil prices and inflation concerns reduced demand for risk assets. Why Goolsbee sees inflation as the main challenge…

Coinbase has secured Abu Dhabi regulatory approval to arrange investment deals and provide custody as it prepares an international hub for tokenized securities and onchain capital markets. Summary Coinbase has received Financial Services Permission from Abu Dhabi Global Market’s financial regulator. The authorization covers arranging investment deals and providing custody for tokenized securities. Eligible token holders will receive shareholder rights, including dividends and voting rights. Coinbase plans to operate major tokenization and derivatives businesses from Abu Dhabi and Dubai. Coinbase secures approval for tokenized securities Coinbase said in an announcement published by Abu Dhabi Global Market that the Financial Services…

Brazil’s largest bank by market value has joined a pilot involving more than 50 financial organizations to test the issuance, trading, and settlement of tokenized fixed-income securities and investment funds. Summary More than 50 financial organizations are participating in ANBIMA’s tokenization pilot. Itaú and OpenAssets will test the full lifecycle of tokenized bonds and funds. The project will assess technical, operational, and compliance standards for blockchain-based markets. Itaú previously participated in the Brazilian central bank’s Drex digital currency pilot. OpenAssets said in an Aug. 11 announcement that it has started working with Itaú Unibanco on a structured use case within…

The U.S. Securities and Exchange Commission has outlined a plan to take control of the Consolidated Audit Trail, replace its funding model, and prepare a transition that could run through late 2027. Summary The SEC has ordered staff to assess direct agency control of CAT and the resources required. A proposed rule could rescind Rule 613 while retaining CAT’s infrastructure and reporting standards. Funding options include congressional appropriations and Section 31 transaction fees. The SEC expects the proposed transition to remain underway until late 2027. The SEC said in an Aug. 10 letter from Chair Paul Atkins to CAT Operating…