12 Aug 2025, 12:30

Do Kwon May Change Plea in US Criminal Case

A court filing from Judge Paul Engelmayer scheduled a Tuesday conference where Kwon could plead guilty, less than a year after being extradited from Montenegro and months after pleading not guilty to nine felony charges, including securities fraud, market manipulation, and money laundering. The potential plea follows months of negotiations between prosecutors and Kwon’s defense team. Meanwhile, Ethereum core developer Federico Carrone was released after a 24-hour detention in Turkey over alleged links to a privacy protocol, which he insists was purely academic research. His case once again amplified concerns about the criminalization of open-source privacy tools, as seen in the Tornado Cash prosecutions. Carrone has since donated $500,000 in ETH to support Roman Storm’s legal defense. Terraform’s Do Kwon May Alter Plea Terraform Labs co-founder Do Kwon could be on the verge of changing his plea in the high-profile criminal case against him in the United States. In a Monday filing with the US District Court for the Southern District of New York (SDNY), Judge Paul Engelmayer scheduled a Tuesday court conference where Kwon “may enter a change of plea.” The move comes after the crypto entrepreneur pleaded not guilty in January to nine felony counts. Some of these counts include securities fraud, market manipulation, money laundering, and wire fraud. Order setting time for Kwon’s plea (Source: SDNY) Kwon’s legal troubles stem from his alleged role in the collapse of the Terra ecosystem in 2022, which wiped out roughly $40 billion in investor assets. After the crash, his whereabouts were unknown for months until he was arrested in Montenegro for trying to use falsified travel documents. Authorities in Montenegro then spent more than a year navigating competing extradition requests from the United States and South Korea, and ultimately handed him over to US officials in December of 2024. Since then, Kwon has been held without bail, and his trial is scheduled to begin in January of 2026. Judge Engelmayer’s order instructed that Kwon be prepared to give a “narrative allocution” in court — which is a detailed statement acknowledging all elements of the offense or offenses to which he may plead guilty. The judge also encouraged his legal counsel to assist in drafting an allocution that could be read in open court. While the specifics of any potential plea agreement have not been disclosed, filings indicate that SDNY prosecutors, led by interim US Attorney Jay Clayton, engaged in “ productive discussions ” with Kwon’s defense team for several months. Do Kwon The conference will take place less than a week after the same court found Tornado Cash co-founder Roman Storm guilty of operating an unlicensed money transmitting service. Terraform Labs itself previously settled with the US Securities and Exchange Commission in 2024, and agreed to pay roughly $4.5 billion in disgorgement, civil penalties, and prejudgment interest. Overall, the outcome of Tuesday’s hearing could be a huge moment in Kwon’s long-running legal battle. Ethereum Dev Freed Meanwhile, Ethereum core developer Federico Carrone, who is known as “Fede’s Intern” on X, confirmed he was released after spending 24 hours in detention in Turkey over alleged links to an Ethereum privacy protocol. Carrone said that Turkey’s Minister of Internal Affairs accused him of “helping others misuse Ethereum,” which he believes stems from a January 2022 research paper he co-authored assessing privacy on Ethereum and Tornado Cash. He explained that the work was purely academic and did not facilitate illegal activity. The incident now adds to the growing concerns over the arrests of developers connected to open-source privacy tools, like Tornado Cash co-founders Alexey Pertsev and Roman Storm, whose trial in New York could set a precedent for criminalizing such technologies and threatening privacy rights in decentralized finance. Carrone, who is now in Europe, described the initial situation as bleak, with officials planning to confiscate his phone and isolate him from outside contact. He credited his release to quick intervention from friends and supporters across the UAE, UK, US, Europe, Argentina, and even the Catholic Church, along with members of the Solana ecosystem who offered assistance and connections in Turkey. While the case is still active, Carrone’s legal team in Turkey is working on his defense, and he is willing to return to clear his name once matters are resolved. X post from Federico Carrone In a show of solidarity with others facing similar legal challenges, Carrone donated $500,000 worth of Ethereum to support Roman Storm’s legal defense, as he strongly believes in the importance of protecting developers who push innovation forward and ensuring they can rely on community support in times of legal jeopardy.

12 Aug 2025, 12:30

Ethereum Open Interest on Binance Exceeds $10B as Short Positions Surge

Binance ETH open interest hits $10.75B amid 500% short position surge since Nov 2024. Pectra upgrade boosts staking, cuts Layer-2 fees by 90%, and limits ETH liquid supply. ETFs, whale buys, and pro-crypto laws drive institutional Ethereum market participation. Futures activity for Ethereum on Binance has hit a record high, with open interest climbing to approximately $10.75 billion in August. This comes as the number of short positions across the market has skyrocketed 500% since November 2024, creating a powder keg for a potential short squeeze. Binance's Ethereum Open Interest at $10B, Short Squeeze Ahead? “Binance’s Ethereum open interest is above $10 billion, and market-wide short positions have surged 500% since November 2024, with a 40% increase in the past week.” – By @oinonen_t pic.twitter.com/349BVdWF6Z — CryptoQuant.com (@cryptoquant_com) August 12, 2025 Data shows that Ethereum’s open interest on Binance has been growing since late May 2025, tracking alongside a powerful rally in the spot price from near $1,800 to above $4,200, a gain of over 130% in under three months. The recent peak in open interest occurred as Ethereum approached … The post Ethereum Open Interest on Binance Exceeds $10B as Short Positions Surge appeared first on Coin Edition .

12 Aug 2025, 12:29

ETH ETFs Reach Record $1B Amid Market Sell-Off and Corporate Accumulation Strategies

Ethereum ETFs reached a record $1 billion in inflows, signaling strong institutional interest, while major cryptocurrencies experienced mixed performance ahead of the CPI report. ETH ETFs saw over $1 billion

12 Aug 2025, 12:27

Qubic’s Selfish Mining Claims Raise Concerns Over Monero’s Network Stability Amid Ongoing Attack

Monero has experienced a significant disruption with 60 blocks discarded in 24 hours due to a 51% attack by Qubic, raising concerns about network security. 60 blocks discarded: Monero faced

12 Aug 2025, 12:27

Ethereum ETFs Attract Record $1.02 Billion on August 11, Outpacing Bitcoin Inflows

Ethereum ETFs receive a record $1.02 billion in investments on August 11. BlackRock’s ETHA and Fidelity’s FETH lead inflows in Ethereum ETFs segment. Bitcoin ETFs gain $178 million, marking four straight days of positive inflows. On August 11, 2025, Ethereum-based ETFs received a record investment of $1.02 billion, according to SoSoValue. The dynamics of capital inflow and outflow from spot Ethereum ETFs in the US showed strong activity. According to the platform, the distribution of capital inflows in the Ethereum spot ETF segment was as follows: ETHA from BlackRock: $639.79 million FETH from Fidelity: $276.90 million ETH from Grayscale: $66.57 million ETHE from Grayscale: $13.01 million ETHV from VanEck: $9.42 million EZET by Franklin Templeton: $4.88 million ETHW from Bitwise: $4.30 million CETH by 21Shares: $3.86 million Only QETH saw no movement of funds. In the spot Bitcoin ETF sector, inflows totaled $178.15 million, marking the fourth consecutive trading day of positive momentum. The distribution of inflows among Bitcoin ETFs was as follows: IBIT: $138.25 million BTC: $14.24 million FBTC: $12.99 million GBTC: $7.49 million BITB: $5.19 million Meanwhile, seven other ETFs did not receive new funds under management. Growing Institutional Interest in Crypto ETFs The record inflows into Ethereum and Bitcoin spot ETFs reflect increasing institutional confidence in cryptocurrency as a mainstream asset class. Asset managers and institutional investors are leveraging ETFs as a regulated and accessible vehicle to gain exposure to digital assets without directly holding cryptocurrencies. This trend is further supported by regulatory clarity and improved market infrastructure, which have helped mitigate concerns around volatility and custody risks. As adoption grows, ETFs are expected to play a pivotal role in bridging traditional finance with the emerging crypto ecosystem, driving further capital inflows and market maturation.

12 Aug 2025, 12:26

XRP Faces Challenges After Losing $3.40 Support, Analysts Suggest Potential Buying Opportunities Below $2.60

XRP has declined over 4% in the last 24 hours, struggling to maintain support at $3.40. Analysts predict a potential drop to $2.50 if bearish sentiment continues. XRP lost crucial