Latest Crypto News, August 12 – ETH ETFs Record $1 Billion Inflow: Best Altcoin To Buy?

Terraform Labs co-founder Do Kwon has pleaded guilty to two charges, conspiracy to defraud and wire fraud, in connection with the $40 billion collapse of the TerraUSD and Luna cryptocurrencies. The plea, entered during a U.S. court hearing, comes after months of legal battles and extradition proceedings.

Kwon now faces a potential prison sentence of up to 25 years. The case is one of the largest in crypto history, with prosecutors alleging that Kwon misled investors and manipulated markets, triggering a chain reaction that wiped out billions in value and shook global crypto confidence.

Bitcoin is holding just above $119,000 after a weekend surge brought it within striking distance of its $123,000 all-time high. Whales are showing no signs of slowing: one address has withdrawn 3,000 BTC ($355M) from Binance in the past three months at an average price of $109,895, including 500 BTC just hours ago. This steady accumulation signals strong confidence that a breakout could be near.

(BTCUSDT)

Not if but when Bitcoin pushes past its ATH, trading activity and on-chain volume are expected to rise as liquidity flows in other assets. Just as Ethereum’s Base and other Layer-2 networks have scaled ETH for mass use, Bitcoin will need fast, cost-efficient infrastructure to handle higher demand.

That’s where Bitcoin Hyper (HYPER) comes in.

Bitcoin Hyper is a next-gen Layer-2 bridging Bitcoin’s base layer with Solana’s speed. BTC is locked on one side of the bridge to mint wrapped BTC, which can then power dApps with the same low fees and high throughput Solana users enjoy. Redeeming is just as simple: burn the wrapped BTC to unlock the original BTC on-chain.

The network now runs Solana programs natively on a Bitcoin-anchored rollup, letting developers deploy contracts using the standard Solana CLI with true SVM execution.

With its presale already raising $8.8 million and the next price increase due soon, Bitcoin Hyper is positioned to benefit if Bitcoin breaks into price discovery and demand for scalable BTC solutions surges.

Visit HYPER Here

The latest U.S. Consumer Price Index (CPI) figures show that inflation remained largely in line with market expectations in July. Seasonally adjusted CPI rose 0.2% month-on-month, matching forecasts and easing from June’s 0.3% increase.

On an unadjusted year-on-year basis, CPI stood at 2.7%, slightly below the 2.8% consensus estimate and unchanged from the previous reading. The data suggests that inflation pressures remain contained, potentially reinforcing expectations for a steady interest rate outlook.

The market reacted positively, with Bitcoin surging +0.65%, Solana +1.8% and ETH +2,6% right after the announcement.

Monero (XMR) is facing what appears to be a successful 51% attack, with the Qubic mining pool now controlling the majority of its network hashrate after months of accumulation. A major chain reorganization was detected, granting Qubic the ability to rewrite blockchain history, execute double-spend attacks, and censor transactions. Experts estimate sustaining the attack could cost around $75 million per day. Despite the severe risk to network security and miner incentives, XMR has only dropped 13% so far. Security firms urge exchanges and platforms to stay alert as a full network takeover remains a possible outcome.

John Woeltz, one of the two crypto investors charged with torturing an Italian businessman in his NY SoHo townhouse, allegedly held his ex-fiancée captive, threatening to kill her, just months before his arrest in Manhattan, per a new report by The NY Magazine on August 11.

The accused kidnapper was recently released from the infamous Rikers Island on a $1 million bond pending trial, where he was locked up alongside his alleged crypto kidnapping partner, William Duplessie.

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The U.S. SEC has officially closed its lawsuit against Ripple, which accused the company of raising $1.3 billion via unregistered XRP sales. Commissioners Hester Peirce and Paul Atkins stated the agency will now focus on creating a clear crypto regulatory framework to encourage innovation while ensuring investor protection. Atkins posted on X, endorsing Peirce’s view, saying the conclusion of this case allows the SEC to redirect its efforts from litigation to policy-making. The shift marks a potential turning point in the agency’s approach to crypto regulation, signaling a move toward clearer rules for the digital asset industry.