Crypto news

Bitcoin (BTC), that capricious beast, recently took a tumble from its dizzying heights of $123,230, yet it found solace at the sacred support level of $118,500. Once a fortress of resistance, this price point has transformed into a bastion of support, bolstered by a chorus of technical indicators-like the point of control, VWAP, and the revered 0.618 Fibonacci retracement level. When such signs converge, it’s as if the universe itself is whispering, “Fear not, for a rise is nigh!”

Imagine believing that reducing block rewards could shake the entire crypto world at this stage-what a quaint notion! Now, most of the trading actions are driven not by miner magic but by OG whales-those mysterious giants whose whims are the true puppeteers of the market. 🤫

Do Kwon, the genius behind Terraform Labs (I say genius loosely), is ready to admit to two lovely criminal charges: conspiracy to defraud and wire fraud-because why settle for one? This whole thing started in 2022, when his terrausd (UST) and luna (LUNA) cryptocurrencies crashed and sent $40 billion on a one-way trip outta here. Let’s be honest, I’ve lost my wallet before, but $40 billion? That’s next level.

Yes, you read that right. MicroStrategy has bought another 155 Bitcoin for about $18 million. This little splurge marks the five-year anniversary of their Bitcoin investment strategy, which has now crowned them as the biggest publicly traded corporate holder of Bitcoin. Move over, Elon!

Arc, an EVM-compatible wonder, is designed with the precision of a Swiss watchmaker, tailored to facilitate stablecoin payments, foreign exchange (FX), and capital market escapades. Picture it as the sturdy foundation of a digital coliseum, offering sub-second settlements, opt-in privacy, and a native stablecoin FX engine, all while ensuring seamless access to the Circle platform. It’s like a digital Swiss Army knife, but for finance!

On the fateful morn of Aug. 12, 2025, at the ungodly hour of 6 a.m. Eastern time, the Slowmist security team proclaimed that the Monero (XMR) network had been besieged by a 51% attack, resulting in an alleged six-block chain reorganization. Slowmist, in a fit of dramatic flair, noted that, according to a now-deleted X post and “provided blockchain reorganization charts,” Monero had recently experienced a six-block chain reorganization mined by an unknown pool. How mysterious! 🕵️‍♂️

Circle’s USDC stablecoin is no slouch-it’s currently the second-largest fiat-backed crypto asset, sitting pretty with a market cap of $65.23 billion. In case you missed it, Circle just dropped its Q2 earnings report and guess what? USDC grew 90% year-over-year. That’s right, it’s now at $61.3 billion. But wait, there’s more! As of August 10, 2025, that number’s already up to $65.2 billion. 💰📈

Shelter costs crept up a sly 0.2%, playing the starring role in our economic opera (“The Rent Is Too Damn High” appears in endless reruns). As for food, the universe demanded balance: you pay 0.3% more for your pizza in the wild, but grocery prices slink down by 0.1%. Only the bravest snails would bother to notice. 🍕🐌

Bailey, a man who tweets like he’s selling snake oil and salvation in equal measures, hushed his X followers with a wink and a promise: every satoshi of this whale-sized gulp will be filmed-“for posterity, or at least the memes,” he said, hand covering half a grin. When the clip drops, expect the background to be somewhere between gospel choir and NASCAR pit stop, because nothing says “sound money” like revving engines and hallelujah hands. 🙌🔧