The main goal of RESBit is to leverage Bitcoin as a tool to reduce foreign exchange and geopolitical volatility, while also encouraging the development of domestic blockchain technology. Including Bitcoin in the national reserve portfolio would offer Brazil an additional layer of protection against global economic shocks—particularly as the USD and other major currencies face political and inflationary pressure.

A Bold Yet Cautious Approach

The bill, introduced by congressman Luiz Gastão, emphasizes the importance of a controlled and phased strategy. Rather than immediately allocating the full 5% to Bitcoin, Brazil could start with a smaller portion to test and assess the real-world impact before scaling up.

Gastão also noted that the initiative is not solely focused on investment returns, but also on the potential for blockchain applications in both public and private finance—from intergovernmental payments to the development of digital financial products, such as Brazil’s upcoming central bank digital currency (CBDC), Drex.

Setting a Precedent to Rival El Salvador?

El Salvador made history by recognizing Bitcoin as legal tender in 2021 and building part of its national reserves with BTC. However, if Brazil—the largest economy in South America—implements RESBit, the impact would be far more significant due to its market size, geopolitical influence, and mature banking system.

A successful RESBit could challenge El Salvador’s model and inspire both emerging and developed economies seeking to diversify reserves beyond the USD and EUR.

A Powerful Signal for the Digital Finance Movement

RESBit could become a foundation for many of Brazil’s upcoming innovation strategies. Integrating digital assets into the national financial system shows a bold shift in public investment and governance thinking. This is a major leap—from blockchain as a concept to blockchain as a nationwide financial policy tool.

Brazil: The Trailblazer for a New Reserve Standard?

Though still under discussion, Brazil’s RESBit bill reflects a strategic and bold vision: to make Bitcoin an integral part of the country’s financial architecture. As the world moves toward digital finance models and blockchain technology gains traction, Brazil may position itself as a pioneer in setting a new benchmark for how nations construct and manage their reserves.

RESBit is more than just a financial plan—it is a clear signal that blockchain and digital assets are stepping onto the main stage of global economies. If Brazil brings this vision to life, not only will its national monetary policy evolve, but the entire global financial order could witness a profound transformation in the coming decade.

In his new role, he will lead the national strategy for cryptocurrency and blockchain, including:

• Drafting legal frameworks aligned with FATF standards

• Organizing nationwide Bitcoin mining operations

• Applying blockchain technology in sectors such as land management and financial systems

Despite being granted a rank equivalent to a Minister of State, Bilal Bin Saqib will not receive a salary or any official benefits.

Pakistan Boosts Infrastructure and Digital Asset Regulation

This appointment is part of Pakistan’s broader effort to build a robust digital ecosystem. Recently, the government approved the creation of the Pakistan Digital Assets Authority (PDAA), which will comprehensively oversee crypto exchanges, e-wallets, stablecoins, DeFi applications, and related services.

Notably, the government also announced a dedicated allocation of 2,000 megawatts of electricity for Bitcoin mining operations. This move aims to power blockchain data centers and AI projects, with expectations of boosting technology sector revenue, job creation, and attracting foreign investment.

Big Names Emerge: Binance, World Liberty Financial, and More

In a noteworthy development, former Binance CEO Changpeng Zhao has officially joined the Pakistan Cryptocurrency Council (PCC) as an advisor, following a brief prison sentence in the U.S. for anti-money laundering violations. His involvement is seen as a credibility booster and a step toward expanding PCC’s international influence.

Additionally, Pakistan’s relationship with the cryptocurrency project World Liberty Financial (WLF) is strengthening. The organization has connections with individuals who previously supported former U.S. President Donald Trump.

In April, Bilal Bin Saqib became an advisor to WLF after co-founder Zach Witkoff visited Pakistan. This visit led to the signing of a cooperation agreement between the Pakistani government and WLF to pilot a stablecoin for trade and international remittances.

Skepticism and Expectations Ahead

Pakistan’s rapid expansion into the crypto space also brings concerns. One key motivation behind these crypto-friendly policies is the sharp decline in foreign investment—down by 45% in February alone.

Earlier this year, the Pakistani government hired a lobbying firm in the U.S. to arrange strategic meetings in Washington, D.C., aiming to attract support and capital from major investors. According to The Wall Street Journal, some Pakistani officials even made direct appeals for increased U.S. investment.

Interestingly, WSJ also reported that Changpeng Zhao had helped WLF expand internationally, although Zhao has publicly denied the claim, calling it "yet another attack" against him. Regardless, PCC continues to sign cooperation agreements with WLF to drive innovation and attract global crypto capital.

Pakistan: From Cautious to Crypto Pioneer?

With comprehensive moves spanning regulatory development, energy infrastructure investment, and partnerships with crypto industry leaders, Pakistan is signaling a bold transition into becoming Asia’s next digital asset hub.

If these initiatives are implemented effectively, the country may not only reduce its dependence on traditional investment models but also pave the way for sustainable growth built on blockchain and digital asset technologies.

Stay up to date with the latest crypto market news: https://news.onfa.io/VN

The top contenders in the race - Lee Jae-myung (Democratic opposition), Kim Moon-soo (ruling People Power Party), and Lee Jun-seok (independent candidate and former PPP leader) - have all expressed pro-crypto positions.

Key highlights from their campaign platforms include:

• Commitments to legalize spot Bitcoin ETFs;

• Plans to relax stringent crypto regulations, which currently limit trading to just five major domestic exchanges;

• Proposals to support blockchain development and crypto trading innovation in South Korea.

Notably, Lee Jae-myung, who narrowly lost to President Yoon Suk-yeol in the 2022 election, is making a strong comeback by targeting young crypto-savvy voters - a demographic that has become increasingly influential in recent elections.

Political Turmoil in 2024: A Catalyst for Crypto?

This snap election was triggered by a major political crisis, following the impeachment of President Yoon Suk-yeol by the National Assembly for his controversial efforts to impose martial law in late 2024.

While Yoon had once promised crypto reforms such as legalizing ICOs and developing play-to-earn gaming models, he failed to deliver on these promises during his term.

His departure has created a policy vacuum, but also presents a new opportunity for pro-blockchain lawmakers to take meaningful action.

Crypto: From Speculative Trend to Political Focal Point

According to Professor Park from Dongguk University, crypto has evolved from being perceived as a speculative bubble in 2022 to becoming a central political issue by 2025.

“No candidate can afford to ignore the growing voter interest in digital assets,” Professor Park said.

Trading data from Q1 2024 shows the South Korean won as the most-used fiat currency in global crypto transactions - a clear indicator of the booming local market.

Institutional Investors Still Await Regulatory Clarity

Despite a vibrant retail market, institutional capital remains cautious. The reason lies in the ongoing efforts of the Financial Services Commission (FSC), which is still piloting regulatory sandboxes and trial programs for the crypto space.

If the next administration delivers on its promises, a clear and friendly regulatory framework could attract major institutional investments, potentially positioning South Korea as Asia’s leading digital asset hub.

The 2025 South Korean presidential election is shaping up to be more than just a political event - it could be a defining moment for the crypto industry. Backed by growing public support - especially among the youth and bold promises from key candidates, digital assets are moving from the sidelines to the forefront of national policy. The future of crypto in South Korea may well be rewritten - all with one decisive vote this June.

Stay up to date with the latest crypto market news: https://news.onfa.io/VN

Since the dream of Libra/Diem ended in early 2022, Meta has been quietly monitoring the crypto market. Now, the company is exploring the integration of stablecoins such as USDT, USDC, and similar tokens in a multi-token approach aimed at reducing payment costs—particularly for payouts to global content creators. According to Fortune, Meta has initiated discussions with several blockchain technology partners.

Recently, Meta appointed Ginger Baker, former director at Ripple, as Vice President of Product, a clear signal that its crypto strategy is being revived. Baker's former company, Ripple, is also actively participating in the stablecoin game, launching RLUSD and reportedly in talks to acquire Circle, the issuer of USDC.

The Libra/Diem Legacy Lives On

Although forced to shut down due to intense global regulatory opposition, the Libra (later Diem) project left a lasting legacy in the blockchain world. The MOVE programming language—developed by the Diem team—is now being used in newer blockchain projects such as Aptos, Movement, and Sei, even though these projects are no longer affiliated with Meta.

Meta had also filed numerous trademarks related to crypto, blockchain, and digital assets between 2022 and 2023, raising concerns among U.S. lawmakers about the company’s ambitions in digital finance.

Stablecoins: From Tech Tools to Geopolitical Levers

Stablecoins are quickly evolving beyond mere technical tools and becoming central to U.S. financial strategy. In May, a slew of major companies unveiled new stablecoin-related initiatives:

• Visa invested in stablecoin startup BVNK, acknowledging the growing role of stablecoins in the payments ecosystem.

• Stripe launched stablecoin-based account services in over 100 countries, supporting conversion and fiat withdrawals.

One of the most notable developments is the emergence of USD1, a stablecoin issued by World Liberty Financial (WLFI) with backing from the family of former President Donald Trump. Within just two months of launch (March), USD1 climbed into the top 7 global stablecoins by market capitalization.

The Trump-affiliated camp has repeatedly emphasized that stablecoins will be key to reinforcing the global dominance of the U.S. dollar by attracting capital flows into U.S. bonds and financial assets.

Political Disputes Remain a Major Barrier

Despite strong backing from corporations, the path to stablecoin regulation in the U.S. is still hindered by political friction. On May 8, the U.S. Senate failed to pass the GENIUS Act—a proposed regulatory framework for stablecoins—after being blocked by Democratic senators.

U.S. Treasury Secretary Scott Bessent voiced his frustration on X (formerly Twitter):

"The Senate missed an opportunity to show leadership by failing to pass the GENIUS Act. This was a once-in-a-generation chance to expand the power of the U.S. dollar."

Strategic Implications: From Meta to Wall Street

From Meta to global financial firms and political institutions, stablecoins are no longer just technical tokens. They are becoming strategic tools in the battle to shape the future of global finance—where the U.S. dollar, blockchain technology, and geopolitics intersect in a high-stakes game.

In this context, Meta’s return could be a major turning point—once again shaking up the already overheated crypto landscape.

G-Token: Neither a Debt Instrument Nor a Stablecoin

According to Bloomberg, G-Token is part of the current budget mobilization strategy but is not classified as a debt instrument. This differentiates it significantly from traditional government bonds or borrowing tools.

Patchara Anuntasilpa, Director-General of the Public Debt Management Office, stated that the G-Token is designed to encourage public participation in investment, diversify fundraising methods, and test the real-world appeal of digital assets in a public investment environment.

Not a CBDC, Yet State-Backed

Unlike stablecoins or central bank digital currencies (CBDCs), G-Token is a state-backed digital asset, yet it is completely separate from the volatile crypto markets.

This token will target retail investors, with a low minimum investment threshold and the potential for returns exceeding current savings interest rates (ranging from 1.25%–1.5%) or the Bank of Thailand’s policy rate (1.75%).

G-Token Emerges Amidst Southeast Asia’s Financial Digitization Wave

What’s particularly noteworthy is that the G-Token launch comes just months after Thaksin Shinawatra—former Prime Minister, father of the current Prime Minister Paetongtarn Shinawatra, and an influential figure in the ruling Pheu Thai Party—proposed the issuance of a stablecoin backed by government bonds.

Alongside G-Token, Thailand is also exploring the launch of a domestic Bitcoin ETF, according to Bloomberg, signaling a long-term strategy of integrating blockchain into national financial systems.

Thailand Joins Asia’s Digital Finance Race

By issuing G-Token, Thailand is not only piloting a new investment vehicle, but also clearly demonstrating its ambition to digitize its capital market. This comes as Asian countries like Japan, Malaysia, and South Korea actively explore blockchain applications in public finance.

While many nations continue to grapple with legal frameworks for digital assets, Thailand is taking practical steps toward legitimizing and popularizing digital finance—paving the way for a new era in the region’s digital economy.

HB 2749: Bitcoin to Be Reserved as a Native Asset

HB 2749, signed into law by Governor Katie Hobbs, allows the state to hold unclaimed digital assets in their native form, rather than converting them to fiat currency as previously required. This means Bitcoin can now be directly managed as part of the state's reserve fund.

Notably, these assets will be held in a tax-exempt fund and may be eligible for staking or airdrops in the future, pending legislative approval.

“Modernizing Financial Laws,” Says Arizona Lawmaker

Representative Jeff Weninger, who authored the bill, stated that the initiative aims to “modernize financial laws” to reflect the growing role of digital assets in the global economy. According to him, holding crypto in its native form not only helps the state preserve the value of unclaimed assets but also lays the groundwork to benefit economically from emerging financial technologies.

New Hampshire Also Backs Bitcoin

Just days before Arizona's move, New Hampshire passed HB 302, which allows the state to invest up to 10% of public funds in precious metals and digital assets with a market capitalization of over $500 billion—criteria that currently only Bitcoin meets.

This move reflects a growing trend among U.S. states recognizing Bitcoin as a strategic asset amid increasing volatility in global financial markets.

The Crypto Race Among States: Who’s Next?

According to data from Bitcoin Laws, North Carolina and Texas are emerging as potential frontrunners in the next wave of Bitcoin reserve legislation. If approved, these policies would further expand the role of digital assets in the public sector while sparking positive competition among states to attract crypto businesses and investors.

The developments in Arizona and New Hampshire are just the beginning. As local governments begin to view Bitcoin as part of a long-term financial strategy, it’s likely that more states will follow suit. A regulatory ecosystem that embraces digital assets could become a key driver for the sustainable growth of the blockchain industry in the U.S.

Expanding the Scope of ATS Transactions

A key highlight of Atkins’ reform plan includes a proposal to amend regulations, allowing registered broker-dealers and alternative trading systems (ATS) to facilitate transactions of non-security assets such as Bitcoin and Ethereum—the two largest cryptocurrencies today.

This is seen as a potential game-changer for how digital asset exchanges operate, pushing crypto activity closer to the traditional financial system in a legal and regulated manner.

Top Priority: Establishing a Strong Legal Pathway for Crypto

Since taking office last month, Chairman Atkins has made it clear that his top priority as head of the SEC is to establish a sustainable foundation for the digital asset market. This not only involves crafting a clear legal framework, but also ensuring that political factors do not influence the application of existing securities laws to blockchain technology and cryptocurrencies.

He also emphasized a dual goal: to support financial innovation in the digital realm while simultaneously protecting investors from fraud and abuse by opaque or non-compliant entities.

Crypto Task Force Takes Center Stage

Leading the SEC’s Crypto Task Force is Commissioner Hester Peirce—a Republican and well-known advocate in the blockchain community often dubbed "Crypto Mom." The task force is responsible for researching, proposing, and shaping policies that keep pace with the rapid evolution of technology and the digital asset market.

The formation and active role of the task force indicate a shift within the SEC—from being an agency traditionally focused on legacy securities, to one capable of overseeing modern financial innovations such as cryptocurrencies, asset tokenization, and decentralized finance (DeFi).

Organization and Goals: RWAs, ETFs, and the Future of Finance

According to the program released by the SEC’s Crypto Task Force, the roundtable will examine the role of tokenization in modern financial markets. The first session, “The Evolution of Finance: Capital Markets 2.0,” will gather leading U.S. ETF issuers—indicating that tokenization is being considered as a new financial instrument for institutional investors.

The second session, “The Future of Tokenization,” is expected to include organizations active in real-world asset tokenization such as Securitize and Robinhood. This suggests the discussion will partly focus on the application of tokens in the rapidly growing RWA segment of the crypto industry.

SEC Commissioner Hester Peirce, often referred to as “Crypto Mom” by the community, stated that tokenization is a technological advancement with the potential to reshape the entire financial market. The SEC is seeking to gather input to help define an appropriate regulatory approach.

Growing Interest in Tokenization Amid Market Shifts

The SEC's decision to hold this discussion is not coincidental. Since March 2024, the agency has announced its intention to focus more on tokenization and recently hinted at plans to build a legal sandbox for real estate tokenization, in partnership with El Salvador and private companies. Although details are still vague and no external parties have been officially confirmed, this move signals that the SEC is taking the topic seriously.

A recent study from Binance Research also highlighted that RWA tokens are among the least risky segments in the crypto industry, showing positive growth even during market downturns. This data could further justify the SEC’s push to explore and develop suitable regulatory frameworks for tokenization—paving the way for a more sustainable future for financial markets.

A Peer-to-Peer AI Ecosystem: Adaptive, Scalable, and Highly Secure

According to the official Tether.ai website, the new platform is not just a standalone AI runtime but also the core component of a peer-to-peer (P2P) AI network capable of adaptive behavior and flexible scalability. The modular architecture of Tether.AI allows for the development of diverse decentralized applications based on AI, opening up a vast creative space for developers.

Tether.AI will also be integrated with Keet, a peer-to-peer messaging app backed by Tether itself. This integration enhances security and ensures privacy during data sharing and processing between AI agents — a critical feature for decentralized systems.

Reinforcing Long-Term Strategy at the Intersection of AI and Crypto

The launch of Tether.AI is part of Tether’s broader expansion strategy first revealed in March 2024, aiming to tap into the vast potential at the intersection of AI and blockchain — a market estimated to be worth over $25 billion, according to CoinGecko. Previously, in September 2023, Tether invested $420 million in German data infrastructure company Northern Data, and later increased its funding to $610 million just two months afterward.

With these steps, Tether is positioning itself not only as the largest stablecoin issuer in the world but also as a new powerhouse in the decentralized AI revolution — paving a promising path forward for developers, investors, and users worldwide.

This mining activity reportedly generated about 50 billion rubles ($556 million) in taxes for the Russian government.

Bezdelov believes the recent legalization of crypto mining will boost investor interest and further increase tax revenue. In July, Russia’s State Duma passed a bill legalizing Bitcoin mining and allowing crypto use in international trade. This move established crypto mining as a legitimate economic activity, requiring legal entities to register or comply with specific energy consumption limits.

Meanwhile, market observers noted that the mining legalization was part of a broader shift geared towards expanding Russia’s crypto operations in light of the Western economic sanctions. Over the past month, the Vladimir Putin-led government has made several advances toward utilizing the emerging industry to bypass these sanctions.

Sanction evasion tactics

Blockchain analytics firm Chainalysis raised concerns that Russia could use local crypto exchanges, like Garantex and Exved, to evade sanctions.

According to the firm, the sanctioned Garantex exchange has processed nearly $100 billion in transactions since 2018 and has deep liquidity across major blockchains that could help Russia maintain cross-border trade.

The firm also flagged Exved as another crypto exchange Russia could utilize for its sanctions evasion efforts.

Chainalysis pointed out that Exved has a history with the InDeFi Bank and was co-founded by Garantex’s Sergey Mendeleev and former KGB officer Alexander Lebedev. Further, the exchange has allegedly facilitated imports and exports, even before Russia’s recent legislative shifts regarding digital assets.

Source: https://cryptoslate.com/russia-mined-over-3-billion-in-bitcoin-last-year-boosting-tax-revenue-amid-sanctions/ 

In what he described as his "limited personal understanding," Drake said the foundation spends around $100 million per year, holds around $650 million worth of funds in its main Ethereum wallet, and has roughly a 10-year runway, variable depending on the price of ether.

“The current approximate budget strategy is to spend 15% of our remaining money every year,” Ethereum co-founder Vitalik Buterin also said in a separate comment on the subreddit. “This implies a default path where the EF lasts forever but gets smaller and smaller (as a share of the ecosystem) over time.”

The Ethereum Foundation has been receiving scrutiny and some negative feedback from the community after a series of unexplained large movements of ether from the foundation, as community members urged the foundation to provide more transparency. 

Last month, blockchain analytics provider Lookonchain reported that the foundation transferred 35,000 ETH ($94.07 million) to the Kraken exchange.

As X user and Ethereum community member @antiprosynth complained about being blindsided by the funds' movement, Ethereum Foundation executive director Aya Miyaguchi stated that the budget is part of its "treasury management" and mainly used for grants and salaries, which some recipients can only accept in fiat currency. 

“This year, there was a long period of time when we were advised not to do any treasury activities due to the regulatory complications, and we were not able to share the plan in advance,” Miyaguchi said. "This transaction is not equal to a sale. There will be planned and gradual sales from here on."

“Seriously, how hard is it to release a quarterly report with financials and basic updates? Expenses, expected upcoming sales, how/where the money is being spent, team size and distribution, etc.,” X user @econoar wrote. “Frankly, it's offensive that the community has to learn about large ETH sales from the EF via Twitter bot notifications.”

Ether is currently trading at $2,380, down 0.79% in the past 24 hours, according to The Block’s ether price page.

In a Sept. 4 X statement, the yet-to-be-launched decentralized finance (DeFi) platform claimed one of its key goals was to drive the “mass adoption of stablecoins and decentralized finance.”

“We want U.S.-pegged stablecoins to remain the world’s settlement layer for the next 100 years,” the account wrote. 

There have been growing concerns that the US dollar could lose dominance as the world’s reserve currency and go-to for international transactions and commodity trades.

The intergovernmental organization “BRICS,” which comprises Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia and the United Arab Emirates, has added to the fears by pushing for commodity trades using currencies other than the US dollar. 

Meanwhile, stablecoin market capitalization, excluding algorithmic stablecoins, has already experienced nearly 12 months of consecutive growth, reaching a new all-time high of $169 billion on Sept. 5, according to DefiLlama.

The five largest stablecoins by market cap are all US-dollar pegged stablecoins. 

Along with bullish comments about stablecoins, the project has teased a partnership and collaboration with DeFi protocol Aave, possibly indicating World Liberty Financial will be built on the Ethereum blockchain. 

In the last 24 hours, the price of Aave on CoinMarketCap has risen over 9% to $133.04, up from its Sept. 4 low of $116.99. 

According to World Liberty Financial, the project will be more than just “another hostile fork” because history shows “those don’t work.”

The project also claimed to be working with “top security experts” who have reviewed its  coding to help them utilize “best practices.” 

Donald Trump has previously made several cryptic posts concerning World Liberty Financial, vaguely positioning it as a service that will help users circumvent traditional banking and establish the United States as the “crypto capital” of the world.

DeFi project a target for hackers 

So far, those linked to the venture have faced an onslaught from hackers and scammers.

On Aug. 8, Eric Trump had to clarify that a Restore the Republic (RTR) memecoin was in no way affiliated with the project after it surged $155 million within hours of its debut based on a rumor that it was part of World Liberty Financial.

On Aug. 30, the official World Liberty Financial Telegram group had to denounce a series of fake ads and giveaways attempting to profit from hype around the project. 

Scammers also managed to hack Lara and Tiffany Trump’s X accounts on Sept. 4 and posted sham links claiming to be connected to World Liberty Financial.

Source: https://cointelegraph.com/news/trump-family-defi-project-ensure-us-dollar-dominance 

The eUSDe token is designed to address some of the challenges associated with volatility in the DeFi space, offering users a more stable alternative for restaking:

• Dollar-Pegged Stability: eUSDe is pegged to the US dollar, ensuring that users have access to a less volatile asset compared to other cryptocurrencies. This stability makes eUSDe an ideal collateral option for restaking across different systems, helping to mitigate risk in the often-volatile DeFi markets.

• Integration with EigenLayer: eUSDe will be usable within EigenLayer, a popular decentralized infrastructure that supports restaking and staking-related activities. By integrating with EigenLayer, eUSDe enables users to participate in restaking while enjoying the benefits of a stable asset.

• Stablecoin Deposits through Ether.fi Vault: Users can deposit various stablecoins into Ether.fi’s USDe vault to receive eUSDe tokens in return. Ether.fi, which boasts over $5.7 billion in total value locked (TVL), provides a secure and efficient mechanism for converting stablecoins into eUSDe, further enhancing the flexibility and utility of the new token.

Advantages of eUSDe in the DeFi Space

The launch of the eUSDe liquid restaking token brings several advantages to the DeFi ecosystem, particularly for users seeking stable and secure ways to participate in restaking and other decentralized activities:

• Reduced Volatility: By offering a dollar-pegged token, eUSDe reduces the volatility typically associated with cryptocurrencies. This stability is crucial for users who wish to participate in DeFi protocols without being exposed to the price fluctuations of more volatile assets.

• Improved Collateral Options: The ability to use eUSDe as collateral within EigenLayer and other protocols opens up new opportunities for users to engage in staking and restaking activities. The token’s stability ensures that users can rely on it as a secure form of collateral for a variety of DeFi applications.

• Enhanced Liquidity and Utility: eUSDe’s integration with Ether.fi and its USDe vault offers users a straightforward way to convert their stablecoins into a liquid restaking token. This flexibility enhances the liquidity of eUSDe and ensures that it can be easily used across multiple protocols.

The Role of Ether.fi in Supporting eUSDe

Ether.fi, which holds over $5.7 billion in total value locked, plays a critical role in the success of eUSDe by providing the infrastructure necessary to support stablecoin deposits and the minting of eUSDe tokens:

• USDe Vault: Ether.fi’s USDe vault allows users to deposit various stablecoins in exchange for eUSDe tokens. This vault system ensures that users can easily access the eUSDe token, adding an additional layer of utility to the Ether.fi ecosystem.

• Trust and Security: With billions in total value locked, Ether.fi has established itself as a trusted platform within the DeFi space. The partnership with Ethena further strengthens this trust by offering users a secure and stable way to engage with liquid restaking through eUSDe.

Source: https://bitcoinworld.co.in/ethena-partners-with-ether-fi/ 

“As crypto prices have let retail traders down, Bitcoin whales are growing in number. A net gain of +283 wallets holding at least 100 BTC has emerged in just 1 month,” Santiment said. 

“The now 16,120 such wallets on the network has broken a 17-month high.” 

In the same period, Santiment reported that wallets with at least 10 Bitcoin, known as “sharks,” have also been increasing their holdings.

Overall, the blockchain analytics platform estimates all these wallets, which range between 10 and 10,000 Bitcoin, have collectively accumulated over 133,000 coins worth more than $7.6 billion in the last 30 days.

Whales gobbling up more crypto as smaller traders exit 

Adam Back, the CEO of Blockstream and inventor of Hashcash, noted that since the Bitcoin price dipped from over $62,000 to around $58,000 on Aug. 28, whales have been on a buying spree.

“Whales back buying 450btc/day every minute all day long, since dip on 28th. Same as Bitcoin mined per day. Go ahead sell them cheap corn,” he said. 

Santiment attributes this increase in whale activity to “smaller traders” who “continue to impatiently drop their holdings to them.” 

Crypto analyst and CryptoQuant contributor Axel Adler Jr speculated in a Sept. 1 X post, that smaller traders could be feeling the pressure to sell as the price drops below their entry point. 

“In the current bull market, the metric has not fallen below 17%, the current figure is -8%. If it continues to decline, the number of people willing to sell coins at a loss could double,” he said. 

The Crypto Fear & Greed Index, which gauges crypto market sentiment, sits firmly in the “Fear” range at 26 at the time of writing on Sept. 2. Throughout August, the index showed more days of fear than greed, with an average rating of 37.

Despite this, Bitgrow Lab founder Vivek Sen suggests that the increased whale activity might be a positive sign for the market. 

He says, historically, significant whale buying has often preceded new all-time highs for Bitcoin.

“The last time whales bought a lot, Bitcoin hit a new ATH,” Sen said.

Source: https://cointelegraph.com/news/bitcoin-whale-wallets-hit-17-month-high

AFP Assistant Commissioner Richard Chin said another key finding from all the reports they received was the age of the victims. Around 60% were under the age of 50, overtaking older Australians, who are generally seen as more susceptible to being duped by scams. 

The methods used also relied primarily on modern technology, with pig butchering and deepfakes being the two most common types of scams found by the AFP. 

“Scammers promise high returns with little risk, using convincing marketing and new technology to make the investment sound too good to miss,” Chin said. 

Pig butchering involves scammers building a personal relationship with their victims on social media or other platforms before encouraging them to invest in fraudulent schemes.

Deepfakes use artificial intelligence to generate audio and video, often of celebrities and other trusted public figures, to promote fake investment schemes. Tesla CEO Elon Musk’s voice and likeness are among the most popular choices for AI crypto scammers. 

Chin says the AFP data is likely just the tip of the iceberg, with more people likely falling victim who are either unaware they have been scammed or are too embarrassed to report the crime.

“If an investment opportunity sounds too good to be true, then it probably is,” he said.

Australian Government website Scamwatch also shows investment scams are still the most prominent way Aussies are losing money, with reports of losses totaling more than $100 million AUD ($68 million) in 2024 so far. 

However, unlike AFP data, Scamwatch shows the over-50 age bracket makes up the bulk of people falling victim to fraudulent schemes. 

Source: https://cointelegraph.com/news/australians-lost-122-million-crypto-scams-last-12-months-afp 

On August 27, 2024, Trump, through his website, confirmed unleashing his fourth non-fungible token collection titled “The American First Collection.” Building on the growing interplay between crypto and politics, Donald Trump is offering a fourth collection of NFTs featuring images of the former American president disguised in different outfits.

Donald John Trump is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021. Trump is now seeking his re-election as the 47th president of the United States of America after losing to the sitting President Joe Biden in the last general election. The 2024 United States presidential election will be the 60th quadrennial presidential election, set to be held on Tuesday, November 5, 2024.

Trump entered the burgeoning NFT space in December 2022. At the time, Trump launched his first digital trading card NFT collection, which featured a limited edition of 44,000 NFTs hosted on Polygon, an Ethereum scaling solution network. Since then, Trump has launched the second and the third editions, which have enabled him to raise millions of dollars to fund his campaigns.

Trump’s 4th NFT Collection Overview

Donald Trump is back with another new digital trading card NFT collection. He strongly believes it will tighten his interrelations with larger crypto and NFT communities while giving him financial muscle for his re-election. Trump is offering NFTs that feature images ranging from him disguised in a superhero costume to him holding figurative Bitcoins.

Additional “trading cards” show the former president as a boxer, dancing, and even riding a motorcycle. In one of the cards, Trump holds a ball with a Bitcoin logo in his hand, highlighting him as a crypto-friendly presidential candidate. According to Truth Social, a social media platform affiliated with Trump, high-spending collectors in the new NFT collection will have a chance to acquire a fragment of the suit Trump wore during his debate with President Joe Biden.

In the same context, crypto and non-fungible token collectors shelling out $24,750 for the cards will also gain access to Trump-branded sneakers, cocktails, and even a dinner at Trump National Golf Club in Jupiter, Florida. Recent financial reveals show that Donald Trump’s previous NFT ventures have generated over $7 million worth of ETH. Last year, Donald Trump’s wife, Melania, reported $330,609 in income from NFT sales.

Source: https://coinmarketcap.com/community/articles/66ce8a5854557b258ea00e19/ 

In an Aug. 25 X post, Shiba Inu (SHIB) pseudonymous marketing lead “Lucie” shared that the team would launch a DAO, allowing holders of the memecoin to vote on future initiatives and have a say in the future direction of the project. 

“Shib is preparing to become a key player in decentralized governance with the upcoming launch of its DAO. This transition will empower every holder, regardless of the size of their stake, to have a say in the community’s direction.”

Two primary councils, the “Charity Council” and the “Culture & Heritage Council,” will direct the governance of the Shiba Inu DAO.

According to Lucie, these two councils will “steer community initiatives,” ranging from charitable outreach to “preserving the unique culture” that comes along with the Shiba Inu memecoin community. 

Other tokens within the SHIB ecosystem, including Bone ShibaSwap (BONE) and Doge Killer (LEASH), will also play a role in the DAO governance process. BONE holders will be given precedence over expanding education and innovation, while LEASH holders will focus on proposals relating to inclusivity and transparency within the project. 

SHIB’s marketing head said the DAO will further expand the utility the SHIB ecosystem offers. 

On March 18, the SHIB team announced that ShibaSwap, a decentralized exchange aligned with the Shiba Inu ecosystem, had migrated to the project’s in-house Shibarium blockchain.  

The price of SHIB didn’t react strongly to the recent announcement and is currently trading at $0.00001514, having gained 14% in the last week.

Despite the memecoin still commanding a market capitalization of $8.9 billion, SHIB is down 82.4% from its all-time high of $0.00008616, which it notched in October 2021, according to CoinGecko data. 

During a July 18 exploit of the Indian crypto exchange WazirX, SHIB was among the tokens that suffered the most price damage. 

During the hack, the WazirX attackers gained access to more than $235 million in cryptocurrencies. Of this figure, SHIB accounted for around $100 million, and its price dipped as much as 15% amid a series of transfers in which hackers unloaded millions worth of SHIB. 

Source: https://cointelegraph.com/news/memecoin-shiba-inu-unveils-plans-to-launch-dao 

Can Bitcoin hit a new record high before the election?

Technical analyst SuperBro highlighted that Bitcoin’s third-quarter bottoms in 2012, 2016 and 2020 were followed by strong upward momentum, often leading to price rallies and new record highs after US presidential elections.

Bitcoin price performances in the third quarter of US election years. Source: SuperBro

Given this historical precedent, there is growing anticipation that Bitcoin may resume its uptrend as it approaches the November 2024 election, which features a high-stakes contest between Donald Trump and Kamala Harris.

SuperBro bolstered his bullish outlook for Bitcoin by referencing the “left-translated cycle” theory. This theory posits that Bitcoin’s bullish cycles are beginning earlier and potentially reaching their peaks sooner than in previous cycles.

Key evidence supporting this theory is that Bitcoin’s most recent peak occurred a month before its fourth halving in April 2024. This is unusual compared with past cycles, where the peak typically followed the halving event.

If the left-translated cycle holds, Bitcoin could begin its ascent before traditional market participants expect, probably hitting a new record high ahead of the election. This could catch off guard the “mid curve” — or those who are slower to adapt to changing market dynamics.

As a result, these investors might be sidelined if they wait too long, missing out on the rally’s initial stages.

Fundamentally, Trump’s positive stance on Bitcoin and potential regulatory changes under different administrations could fuel speculative buying, leading to accelerated price increases.

According to the crypto betting service Polymarket, Trump’s winning odds have improved.

Bitcoin onchain data signals less profit-taking

Long-term holders (LTHs) of Bitcoin have consistently locked in about $138 million in profit per day during the recent flat trend, according to Glassnode’s latest weekly report.

Historically, this metric reaches high levels during market tops and declines before the market resumes an uptrend, as seen in the 2013 and 2021 cycles.

The combination of a declining realized profit/loss ratio and historical patterns of LTH behavior suggests that Bitcoin might be able to rally in the months leading up to the election.

Bitcoin bull flag points to $80,000

From a technical perspective, Bitcoin may undergo a bull flag breakout in the run-up to the US presidential election.

BTC’s price has been trending inside a bull flag pattern since March, confirmed by its correction inside a descending parallel channel, which, in turn, has followed a strong uptrend.

As a rule, this formation increases Bitcoin’s likelihood of continuing its bullish momentum, given that its price breaks decisively above the flag’s upper trendline. Should it happen, its bull flag breakout target will be measured by adding the previous uptrend’s height to the breakout point.

Source: Cointelegraph

1. Access the Menu:

• Open the ONFA app and find the "Menu" section (usually represented by a three-line icon or three dots).

• Tap on "Menu" to expand the options.

2. Copy the Secret Key:

• On the setup screen, you will see a "Secret Key" displayed.

• Tap the "Copy" button to copy this code to your device's clipboard.

3. Open the Google Authenticator App:

• If you don't have it already, download and install the Google Authenticator app from your device's app store.

• Open the Google Authenticator app.

4. Add a New Account:

• Tap the "+" icon to add a new account.

• Select the "Enter a setup key" option.

5. Paste the Secret Key:

• Paste the previously copied "Secret Key" into the "Your Key" field.

• Enter a name for the account (e.g., "ONFA") for easy recognition.

6. Complete the Setup:

• Tap the "Add" button to complete the setup process.

• Google Authenticator will generate a 6-digit code that changes periodically for your ONFA account.

7. Enter the Verification Code:

• Go back to the ONFA app.

• Copy the 6-digit code from the Google Authenticator app.

• Paste this code into the "2FA code" field on ONFA.

8. Submit and Complete:

Tap the "Send" button to confirm.

You have now completed setting up Google Authenticator on ONFA.

*Important Notes:

• Store the Secret Key Securely: Make sure you store the "Secret Key" in a safe place. If you lose this code, you won't be able to regenerate the verification code and may have trouble accessing your ONFA account.

• Verification Code Changes: The verification code on Google Authenticator changes every 30 seconds. Always use the latest code to log in to ONFA.

With Google Authenticator, your ONFA account is now more comprehensively protected. Feel confident using and experiencing the services that ONFA offers!

“I don’t think it is going back up to 70%, my target for Bitcoin dominance has been 60%,” Into The Cryptoverse founder Benjamin Cowen explained in an interview with The David Lin Report on Aug. 17.

Analyst skeptical of Bitcoin dominance returning to previous cycle highs

Cowen explained that during “major altcoin seasons,” such as the one in 2021, Bitcoin $59,550 dominance — the ratio of Bitcoin’s market capitalization to the entire crypto market — tends to decline but “slowly” returns to its previous level after “the breakdown.” However, this cycle, he is more confident that even when Bitcoin reaches its peak dominance, it won’t attract the same level seen in the past.

“I think there is room for Ethereum and many other cryptocurrencies,” Cowen added.

Cowen believes that Bitcoin will “make that final move” toward 60% as early as September or as late as December.

At the time of publication, Bitcoin dominance is 57.36%, up 4.25% since July 18, according to TradingView data.

However, pseudonymous crypto trader Kaleo recently told their 643,700 X followers that Bitcoin dominance may have already peaked.

“I feel fairly confident this is the cycle top for Bitcoin Dominance,” Kaleo stated in an Aug. 9 X post when Bitcoin dominance was around 57.50%.

“Didn’t quite hit the 60% I was expecting - which is a good thing because that would have been painful,” they added. Kaleo believes that “the real” altseason begins when Bitcoin dominance falls below 50%

Traders often look for signs that Bitcoin dominance is peaking as a signal to sell Bitcoin and shift capital into alternative assets, such as altcoins.

Bitcoin dominance playing field is different this cycle

In December 2020, Bitcoin dominance reached 70.23% before its price surged around 220% to $61,283 in March 2021, just four months later, according to CoinMarketCap data. 

Cowen noted that Bitcoin dominance was “trickier” in 2024 than in 2019 when it peaked slightly above 71% because the stablecoin market capitalization was significantly lower back then.

Cowen recommends combining Bitcoin dominance with crypto stablecoin Tether USDT $1.00 dominance to calculate your “flight to safety dominance.”

In the Aug. 17 interview, he explained that the combined figure is about 63%, similar to the level in June 2019, before the United States Federal Reserve cut interest rates.

At the time of publication, the combined dominance of USDT and Bitcoin is 63.07%.

Irina Heaver, a partner at UAE law firm NeosLegal, explained that the ruling in case number 1739 of 2024 shows a shift from the court’s earlier stance in 2023, where a similar claim was denied because the crypto involved lacked precise valuation. 

Heaver believes this shows a “progressive approach” to integrating digital currencies into the country’s legal and economic framework. 

According to ETF tracker SoSoValue, the nine newly launched US-based spot Ether had positive overall net inflows of $104.8 million for the week beginning Aug. 5.

Bitcoin has given up — once again — multiple bull market support levels and plunged a significant section of its hodler base into unrealized losses.

Some see only central bank policy intervention saving the day, while others argue that, despite its brutal nature, a stock correction was only a matter of time.

At its core, the Act proposes the creation of a Strategic Bitcoin Reserve (SBR) and a structured Bitcoin Purchase Program, and comprehensive national custody policy. While the bill is quite brief, what follows is a breakdown of the Act's key provisions, their implications, and the innovative funding mechanisms employed.

• ONFA Shares: Invest in the future of ONFA by purchasing shares and potentially earn dividends as the platform continues to grow and expand.

• NFT Mining: Unleash your creativity and mint unique NFTs that hold the potential for significant value in the thriving NFT market.

• Airdrops: Get rewarded with free tokens simply for being an active and engaged member of the ONFA community.

• Staking: Lock up your ONFA tokens and earn passive income through staking rewards, a great way to grow your holdings over time.

• Route Hub: Optimize your token swaps and potentially earn a share of trading fees by utilizing ONFA's Route Hub feature.

WHY CHOOSE ONFA?

• Diversified Opportunities: ONFA is not just a trading platform, but an ecosystem where you can invest, create, and earn from multiple sources.

• Growth Potential: With the ever-expanding crypto market, ONFA aims to be a leading platform, opening up opportunities for your investments to grow in value.

• Engaged Community: ONFA is more than a place to trade – it's a vibrant community where you can connect, learn, and share experiences with like-minded individuals.

DON'T MISS OUT!

Join the ONFA community today and start exploring these incredible opportunities to boost your earnings and take control of your financial future. ONFA – Where crypto becomes your gateway to wealth!

ONFA TOUR is a nationwide series of events designed to share knowledge and foster connections within the broader crypto community in Vietnam, as well as the specific ONFA community. It’s a unique opportunity for crypto enthusiasts to hear directly from representatives of Metti Tech Group, a leading multi-industry conglomerate based in the USA. Attendees will gain insights into the future and vision of the crypto market and have their questions answered in a context where ONFA is emerging as a digital asset management powerhouse in the region.

ONFA TOUR connects many crypto experts both domestically and internationally

ONFA TOUR Can Tho - Kickoff Ahead of the 3rd Launchpad

The first event of the ONFA TOUR took place on June 5th in Can Tho City, drawing over 50 experts both domestic and international, showcasing its significant appeal. Attendees had the unique opportunity to engage with Nathan Ho from Metti Tech Group (USA), who discussed the inception of ONFA Token (OFT) and the lucrative potential of the ONFA Wallet.

Meeting Event with the Vice President of Mettitech Group and CEO of Onfa Fintech USA in Can Tho

Through ONFA TOUR, investors who previously only knew each other online have now forged strong, personal connections. This is a major motivation for ONFA, laying the groundwork for future events to be held in various provinces across Vietnam, gearing up for the growth phase of the 3rd Launchpad on June 22nd.

Meeting Event with the Vice President of Mettitech Group and CEO of Onfa Fintech USA in Can Tho

Overview of the 3rd Launchpad Event

Event Details:

- Time: 2:00 PM - 7:00 PM, June 22, 2024 (Vietnam Time)

- Venue: Majestic Saigon, 1 Dong Khoi, Ben Nghe Ward, District 1, Ho Chi Minh City

The third Launchpad event is about to take place

Join the event to meet renowned crypto experts and community leaders from Vietnam and the USA. This is a prime opportunity for investors to rapidly grow their assets through the ONFA Token (OFT) starting at just 1.00 USDT with a transaction volume of 5,000,000 OFT.

Don’t miss this special opportunity to achieve your financial goals!