Crypto Weekly Market Wrap August 24 – Market Rally, ETF Flows, Treasury Moves and Global Regulation

The crypto market last week brought regulatory proposals, institutional expansion, security incidents, and new corporate treasury activity. Governments advanced tax, licensing, and enforcement plans across several regions.

Meanwhile, established companies pushed digital assets into banking, payments, trading, and creator services. The week also exposed technical risks across blockchains, stablecoins, wallets, and decentralized platforms. In the section below, we will discuss key events that made headlines last week.

BitMine Adds Ether and Repurchases Shares

On August 17, Ethereum treasury firm BitMine announced that it bought 9,926 ETH, lifting its holdings to 5,815,164 ETH. The position now represents 4.8% of Ether’s circulating supply as total company assets reached $11.4 billion. Moreover, BitMine staked 5,067,309 ETH at a 2.61% annualized yield. The projected annual staking income has approached $250 million. BitMine also repurchased 1.7 million shares during the reported period.

Strategy Raises Cash While Bitcoin Stayed Flat

Strategy sold 3.46 million MSTR shares and collected $333.7 million between August 10 and August 16. The Bitcoin treasury firm recorded no Bitcoin purchases or sales. As a result, Strategy kept 840,447 BTC at a $75,385 average cost. It funded STRC dividends, repurchased preferred shares, and increased its dollar reserve to $4.8 billion. 

Austria Penalizes Bitpanda Over MiCA Disclosures

Austria’s Financial Market Authority fined Bitpanda €70,000 for several MiCA disclosure and marketing failures on August 17. The case became the regulator’s first published final MiCA penalty. Bitpanda submitted its white paper after the required notice period. Additionally, marketing materials omitted mandatory responsibility statements, approval language, a telephone number, and an email address. 

Tether Expands Its Plans Beyond Stablecoins

On August 17, stablecoin giant Tether outlined plans for simple mobile AI services covering finance, health, and sports. Paolo Ardoino said the company would target users in developing markets. Its global products served more than 650 million users. Meanwhile, KPMG reviewed Tether’s reserves and verified about 150 tons of Swiss gold. The audit found reserves exceeded liabilities by $6.8 billion overall. 

Tether Plans AI Applications for Developing Markets as Global Users Top 650M

According to Fortune, Tether CEO Paolo Ardoino said the company is expanding beyond financial services into technology and infrastructure, with plans to develop AI applications for developing markets.… pic.twitter.com/hgmBmlTCLH

— Wu Blockchain (@WuBlockchain) August 17, 2026

Ethereum Prepares Developers for Glamsterdam Changes

Ethereum opened Platåberget testing before the Glamsterdam upgrade reached established testnets on August 17. Developers could examine wallets, validators, indexers, builders, and gas-estimation tools there. Notably, EIP-8037 introduced separate charges for operations creating permanent state. Therefore, transfers to unused addresses could require more than the familiar 21,000 gas allowance. EIP-7732 also changed builder and validator coordination workflows.

Blockchain Group Challenges Two Trading Rules

The Blockchain Association asked the SEC to remove Regulation NMS Rules 611 and 610(e) on August 18. Those provisions govern trade-throughs and locked or crossed quotations. Commissioners had not approved either proposed repeal yet. Moreover, the group argued that displayed prices overlook fees, liquidity, settlement speed, and execution certainty. It requested updated guidance suited to tokenized and extended-hours markets.

Metaplanet Builds an American Bitcoin Platform

On August 18, Metaplanet agreed to inject 2,100 BTC and $2.5 million into Nasdaq-listed Super League. The package carried an initial value near $134.6 million. Metaplanet used its American subsidiary for the investment.

*Metaplanet to Invest 2,100 Bitcoin in Super League to Launch U.S. Bitcoin Treasury Platform, Superplanet* pic.twitter.com/wIR5eWkHJv

— Metaplanet Inc. (@Metaplanet) August 18, 2026

Following completion, Super League would become Superplanet and propose the SUPA ticker. Metaplanet expected 95.7% ownership and an American Bitcoin treasury platform. Consideration included shares, preferred stock, and warrants.

Ripple Connects Jeonbuk Bank With Global Payments

On August 18, Ripple partnered with JB Jeonbuk Bank to support international business remittances. The bank became South Korea’s first regional lender using Ripple Payments. Through the service, importers, exporters, technology startups, and creators gained near-real-time settlement. Additionally, the platform operated continuously and reduced reliance on intermediary banks.

Kraken Adds Thousands of Stocks in Europe

Kraken launched access to more than 7,000 American stocks for eligible EEA customers on August 18. Users could manage equities, cryptocurrencies, and xStocks through one platform. The exchange also supported over 600 crypto assets.

7,000+ US stocks are now available to EEA users in the Kraken app 🇪🇺

Invest in stocks, tokenized equities, and crypto all in one platform.

Explore stocks ⤵️https://t.co/0BVtXJ2tf1 pic.twitter.com/ApYmHxNzOF

— Kraken (@krakenfx) August 18, 2026

Meanwhile, Payward’s MiFID II authorization supported the service. Kraken offered commission-free stock trades, although spreads and foreign-exchange costs could still apply to transactions.

Citi Plans Bitcoin Custody for Institutions

On August 18, Citi said Custody+ would add institutional Bitcoin custody later this year. The platform combined digital assets with traditional securities, settlement, liquidity, and foreign exchange services. Citi already served custody clients across 100 markets. Moreover, Citi processed over 80% of American event volume in real time. Its system also completed 96% of voluntary corporate actions within two hours. Investor Services invested over $2 billion annually in platforms.

SEC Proposes New Crypto Fundraising Routes

The SEC proposed Regulation Crypto Assets on August 18. Its exemptions could let eligible issuers raise $5 million, $20 million, or $75 million. Meanwhile, a conditional safe harbor offered some assets a route beyond investment-contract treatment. Issuers would submit Form TR after completing or permanently ending promised managerial work. The SEC planned a 60-day public comment period.

🚨NEW: The @SECGov has just formally proposed Regulation Crypto Assets, a new framework for crypto fundraising in the U.S.

The proposal would:

📌Allow certain offerings of up to $5M over four years or $75M annually without SEC registration

📌Create a conditional safe harbor… pic.twitter.com/2ATeTddc3s

— Eleanor Terrett (@EleanorTerrett) August 18, 2026

Maya Protocol Loses Funds Through Six Bugs

On August 19, an attacker combined six MAYAChain bugs within one transaction and obtained about $1.7 million. The faulty accounting created an artificial 49 million CACAO balance. Subsequent withdrawals, token sales, and arbitrage reduced the liquidity pools’ estimated value by $10.9 million. Maya halted the cross-chain network while developers prepared fixes. Meanwhile, Maya offered the attacker a bug bounty afterward.

Vietnam Advances its Regulated Crypto Pilot

On August 19, Vietnam approved five businesses for its crypto market pilot. The first domestic digital asset exchanges could begin operations during 2026’s third quarter. Licensed operators needed at least 10 trillion Vietnamese dong in paid-in capital. Vietnam also addressed virtual asset controls while remaining on the FATF grey list. Authorities still face ten outstanding compliance areas.

Trump Presses Congress for Crypto Legislation

President Donald Trump urged Congress to pass the CLARITY Act during an August 19 White House meeting. Crypto, finance, technology, and regulatory leaders attended. The CFTC scheduled an advisory meeting for August 20.

🔥JUST IN: Coinbase CEO tells the White House crypto summit the September 15 CLARITY Act vote is "the most important" thing next.

Armstrong says the bill would make this administration's crypto progress "durable for decades and decades to come." pic.twitter.com/Ll9rah4zXh

— Coin Bureau (@coinbureau) August 19, 2026

Moreover, Trump cited the Strategic Bitcoin Reserve, Digital Asset Stockpile, Project Crypto, and GENIUS Act. He said clearer rules could keep digital asset businesses domestic. SEC Chair Paul Atkins also attended the gathering.

CZ Backs Hyperliquid Access in America

On August 20, Changpeng Zhao supported a compliant route for Hyperliquid to enter the United States. Trump said CFTC Chair Michael Selig was working toward that outcome. Hyperliquid specializes in decentralized crypto perpetual futures trading. CZ argued that one successful framework could help other decentralized exchanges. He also linked broader access with stronger liquidity, competition, and consumer pricing. HYPE reached a new record price after Trump’s remarks.

BitGo Korea Secures Local VASP Registration

South Korea’s Financial Intelligence Unit approved BitGo Korea as a virtual asset service provider on August 20. The registration covered custody and transfers for institutional and enterprise clients. BitGo completed the country’s full local registration process. Notably, BitGo created a local company instead of acquiring an existing registrant. Hana Financial Group and SK Telecom supported the business as strategic shareholders. Local systems covered security and anti-money-laundering controls.

HTX Denies Sending Disputed Crypto Microtransfers

Crypto exchange HTX denied any involvement in small USDT transfers associated with Kraken account restrictions on August 20. The exchange did not find any matching activity in its controlled account. Justin Sun also rejected charges of orchestrating the controversial transactions. HTX did not release any final investigation report or hashes of the transaction. Kraken confirmed restrictions involving sanctioned Huobi-linked funds, while a reported $4.2 million case lacked verification. Meanwhile, British authorities rejected HTX’s separation argument under sanctions rules.

South Korea Details Its Crypto Tax Rules

On August 20, South Korea confirmed that its 2027 crypto taxes will apply to overseas exchanges and self-custody wallets. Taxable gains above KRW 2.5 million face a 20% tax. Local taxes could lift that rate to 22%.

据 Digital Asset 报道，韩国财政经济部与国税厅重申，居民通过转让或出借存放在个人自托管钱包以及海外交易所的数字资产所产生的收益，在原则上均属于课税对象，不因资产存放地或交易渠道而有所区分。韩国加密资产税计划归类为其他所得，扣除限额为 250 万韩元，税率为 20%，预计于 2027 年 1 月 1…

— 吴说区块链 (@wublockchain12) August 20, 2026

Other areas reviewed included staking, lending, airdrops, hard forks, and promotion rewards. They also designed tracking systems, international CARF data exchange, and overseas reporting. Simply holding assets would not create taxable income.

Ethereum User Reports Major Phishing Loss

An Ethereum user reportedly lost 1,010 ETH after opening an old Tornado Cash bookmark on August 20. Community accounts alleged that a malicious frontend captured private deposit credentials. Independent security firms had not confirmed that method. However, on-chain records confirmed only 810 ETH across nine August 18 transfers. The cited receiving wallet still held those funds two days later. Records left another 200 ETH unaccounted for.

X Considers Stablecoins for Creator Rewards

Elon Musk’s X explored stablecoin payments, including USDC, for creator royalties and rewards. The company did not select a token or launch date. Meanwhile, X is preparing Original Content Rewards to replace its older Revenue Sharing program. The revised system will focus on original reporting, ideas, expertise, creativity, and commentary.

CFTC Prepares Rules Beyond the CLARITY Act

On August 21, CFTC Chair Michael Selig said the agency could pursue crypto rules through existing authority. He still preferred legislation and expected bipartisan support for the CLARITY Act. The Senate expected a September 15 vote. Meanwhile, Selig directed staff to evaluate possible rulemaking options. The agency planned no proposals until Congress determined the bill’s outcome in the Senate. Other federal agencies also held existing statutory powers.

Korean Lawmakers Seek Stronger FIU Powers

Ten South Korean lawmakers proposed giving the FIU direct investigative authority over unregistered crypto operators on August 21. Anyone could report suspected violations under the amendment. Eom Tae-young introduced the bill with nine colleagues.

South Korean Lawmakers Push Tougher Oversight of Illegal Crypto Operators

South Korean lawmakers are seeking stronger FIU powers to investigate unregistered crypto firms and suspected violations.

The proposal follows difficulties pursuing unregistered operators, many of which… pic.twitter.com/qYJfrx7Rwl

— BABA CRYPTO (@babacryptoio) August 21, 2026

Then, the FIU could analyze evidence, request criminal investigations, or file complaints. The proposal followed police closures involving 23 of 25 earlier agency referrals. The parliament still needs to approve the amendment.

Ray Dalio Favors Gold and Bitcoin

On August 21, Ray Dalio warned that rising American debt and weaker Treasury demand could trigger a debt crisis. He recommended less bond exposure and more gold. He suggested allocating 10% to 15% toward gold. Dalio also supported a smaller Bitcoin allocation. He estimated a $2 trillion federal deficit, $1 trillion interest bill, and $10 trillion refinancing requirement. 

Laser Digital Wins Japanese Crypto Registration

Nomura-backed Laser Digital Japan secured crypto exchange service registration on August 21. It became Japan’s first newly registered provider within that category during the previous four years. Initially, Laser Digital planned liquidity services for domestic virtual asset providers. Later, the company said it intends to launch digital asset trading for institutional investors.

Pakistan Opens Its Virtual Asset Licensing System

On August 21, Pakistan’s Virtual Assets Regulatory Authority (PVARA) launched the country’s licensing framework. Existing providers needed to seek no-objection certificates under the Virtual Assets Act, 2026. The authority also opened its application portal.

Pakistan’s virtual asset licensing regime is now live. 🇵🇰

In under 6 months, Pakistan has moved from primary legislation to notified regulations and an open licensing process.

Under Section 70 of the Virtual Assets Act, 2026, existing virtual asset service providers must submit… pic.twitter.com/B0uH9n2JoA

— Pakistan Virtual Assets Regulatory Authority (@PakistanVARA) August 21, 2026

Section 70 set a September 5 application deadline. Meanwhile, PVARA opened a sandbox and alternative licensing routes for providers and new applicants. Non-applicants would need to stop operating locally.

Sandbox Token Mint Triggers Security Alerts

On August 22, one address minted more than 500 million SAND tokens on Base. Blockchain security company Blockaid reported the activity and possible access to minting permissions. Upbit and Bithumb warned traders about heightened volatility and security concerns. The Sandbox had not explained the access route or the newly created supply.

Justin Sun Questions USD1 Contract Controls

Justin Sun accused World Liberty Financial of hiding administrative functions within USD1’s deployed contract on August 22. Authorized operators could drain or reallocate balances from frozen addresses. Those actions required no affected holder approval. Moreover, Sun said the public repository omitted those functions from its displayed code. World Liberty CEO Zach Witkoff disputed Sun’s account of their legal proceedings. USD1 has roughly $4 billion in supply.

Digital Asset Investment Products Market Overview

According to data from Sosovalue, U.S. spot Bitcoin ETFs attracted $1.92 billion between August 17 and August 21, their strongest weekly inflow since October. Investors added capital during all five sessions, while Thursday led the week with $606.29 million in net purchases. Spot Ether ETFs gathered $697.18 million during the same period, also reaching their highest weekly total of 2026. Friday brought $184.93 million, while BlackRock’s ETHA led individual Ether funds with $151 million that day.

Spot bitcoin & ether ETFs just posted highest weekly inflows since October of last year…

Nearly $2bil for bitcoin ETFs & $700mil for ether ETFs.

via @zackabrams

— Nate Geraci (@NateGeraci) August 23, 2026

Together, Bitcoin and Ether products collected about $2.62 billion, with Bitcoin funds taking roughly 73% of the total. Meanwhile, XRP, Solana, Chainlink, Hyperliquid, Avalanche, and Dogecoin ETFs recorded smaller inflows. However, BNB ETFs posted $260,000 in outflows. Meanwhile, Litecoin and Polkadot funds reported no net weekly movement during the five-session period.

Bitcoin Price Performance

Bitcoin posted an impressive performance last week, surging from lows of $63K to $79K. This latest bullish turnaround has pushed the weekly and monthly gains to 23% and 20%, respectively. At the time of this writing, BTC was trading around $77,400, with a market cap of $1.55 trillion.

Looking at the technical perspective, BTC has formed a sharp bullish reversal from the support around $60K. The price is currently testing the immediate resistance at the $80K level. Should the current trend hold, BTC could break above the $80K region and push for a rally toward the $83K mark.

Meanwhile, indicators such as the Relative Strength Index and Moving Average Convergence Divergence suggest the bullish trend could extend. The 14-day RSI is hovering around the 56 level, indicating neutral momentum in the market. Moreover, the MACD line is trending above the signal line, with the histogram printing green bars.