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Investors have lost $74.8 million as a result of Kanye West’s YZY Coin, which has affected 51,862 wallets. The incident highlights the dangers of investing in cryptocurrency projects promoted by celebrities and serves as a reminder to do your homework before purchasing assets that are the subject of excitement.
Arthur Hayes made audacious forecasts for the cryptocurrency industry in a recent piece, projecting that ENA, ETHFI, and HYPE will increase 51x, 34x, and 126x by 2028, respectively. He was equally enthusiastic about Codex, describing it as the first real cryptocurrency bank. Hayes cautioned readers to exercise caution, pointing out that his predictions have historically only been 25% accurate, demonstrating that even specialists are not faultless at seeing the future.
About 112 cryptocurrency companies, investors, and advocacy organisations, including a16z, Coinbase, and Kraken, wrote to the Senate Banking and Agriculture Committees on August 27. They underlined that federal protections for software developers are essential to the market structure bill’s support.
Chip giant Nvidia just posted Q2 sales of $46.74 billion, which surpassed Wall Street projections and represented a huge 56% YoY gain. With good margins of 73.5%, it anticipates $54 billion in sales in the third quarter. Along with giving $24.3 billion back to investors, Nvidia also increased its buyback plan by an additional $60 billion.
President Trump’s demands have prompted the European Union to propose removing all tariffs on industrial goods from the United States. The action could change the dynamics of global trade, giving rise to better transatlantic trade relations. The move can possibly reduce tensions and foster economic cooperation between the U.S. and the EU.
KuCoin has become the first crypto exchange to support Thailand’s G-Token, a government-backed tokenized bond. KuCoin Thailand will manage the tech and listing, while KuCoin Global provides advisory, liquidity, and global support, helping bridge traditional finance with the world of digital assets.
Japan’s Monex Group is considering the launch of a yen-backed stablecoin. Chairman Oki Matsumoto has recently emphasized the importance of staying competitive in the fast-evolving world of digital finance. The initiative could help Monex play a bigger role in Japan’s growing crypto and digital asset market.
About 4.36 million Ethereum ($ETH) are being held as a strategic reserve, increasing its value to about $20 billion. Support for the reserve comes from 70 corporate and institutional organisations, demonstrating the rising trust in Ethereum as a long-term digital asset and a vital component of the larger blockchain ecosystem.
Days after relaunching its cryptocurrency operations in the US after a two-year hiatus, Webull has formally launched its crypto services in Australia. Australian consumers can now trade over 240 cryptocurrencies thanks to a relationship with Coinbase Prime, which is a big step in Webull’s global digital asset expansion.
Crypto could soon play a bigger role in UK pensions. A new Aviva survey found that over a quarter of British adults are open to adding crypto to their retirement savings, with many citing the chance for higher returns. Interestingly, 23% would even shift part of their existing pensions into crypto. With the UK’s pension market worth £3.8 trillion, this growing interest could mark a major step for digital assets.
