August 22, 2025
Your weekly pulse on markets, narratives, protocols, and policy.
Market Pulse
NYSE Breaks New Ground: Trump Media’s Crypto ETF Eyes Listing
NYSE Arca has officially submitted a rule change proposal (SR-NYSEArca-2025-45) to the U.S. Securities and Exchange Commission (SEC), seeking approval to list the Truth Social Bitcoin and Ethereum ETF.
The dual-asset fund, introduced last week by Trump Media & Technology Group (TMTG), seeks to provide direct exposure to both Bitcoin and Ether within a single investment vehicle.
Peter Schiff Says He Intends To Launch Gold-Backed Stablecoins, Deems Dollar As A ‘Flawed’ Fiat Currency
“They already exist. But I do intend to launch my own,” Schiff replied. Many users soon converged on this post, with some even suggesting names for the initiative, such as SchiffCoin, while others called it a genuinely “good idea.”
It wasn’t immediately clear whether Schiff was making a joke or genuinely interested in tying cryptocurrency to the asset he passionately supports. Benzinga reached out to entities connected to Schiff, such as SchiffGold, to gather additional information. The article will be updated when they respond.
Narratives to Watch
XRP News: Bybit Reports XRP Holdings Double in Just 6 Months
Rising tensions between Israel and Iran have created market uncertainty, leading investors to favor safer assets like Bitcoin and pushing its dominance to 65.30%, while altcoins lag. However, a recent Bybit report reveals a shift in sentiment, with XRP standing out as a strong altcoin contender. From November to May, XRP holdings on the platform more than doubled, and its price surged by 338%, from $0.50 to $2.19.
Circle Hits $66B Valuation, Surpassing USDC Supply
Protocol Watch
US-Listed Chinese Tech Firm Aurora Mobile Announces Crypto Reserve Strategy
Chinese-headquartered tech firm Aurora Mobile has announced that it will invest 20% of its cash and cash equivalents in crypto. The strategic initiative has been approved by its Board of Directors.
In an official release, the US-listed company said that the investments may include Bitcoin, Ethereum, Solana, SUI and other tokens.
Nano Labs Stock Price Shoots over 152% on $1 Billion BNB Treasury Strategy
In the latest BNB news, Nasdaq-listed Nano Labs on Tuesday said it will issue convertible promissory notes for a total amount of $500 million. Web 3.0 infrastructure and product solution company plans to acquire $1 billion in BNB tokens through convertible notes and private placements.
As a result, the Nano Labs Stock price (NA) stock price shot up by more than 152% in the premarket trading hours on Tuesday.
Bitcoin treasury firm Metaplanet raises $515 million through new stock issuance
Tokyo-listed Metaplanet raised 74.9 billion JPY ($515 million) to buy more bitcoin following the recently announced plan to acquire 1% of Bitcoin 21 million supply.
A Wednesday filing showed that Metaplanet’s primary backer, EVO Fund, exercised 540,000 stock-acquisition rights, converting them into 54 million new shares. The issuance covers 29% of the company’s 20th warrant series, while about 1.31 million rights, equal to 131 million shares, remain.
Regulatory Radar
South Korea orders exchanges to halt crypto lending services
South Korea’s top financial regulator ordered crypto exchanges to suspend new digital asset lending services, citing mounting risks and highlighting a need for clear rules.
The Financial Services Commission (FSC) said on Tuesday that it sent letters to exchanges requesting the suspension of new crypto lending until it completes guidelines. Existing contracts, like repayments and maturity extensions, will be permitted.
Spain slaps DeFi investor with $10.5M back tax for loan: Report
A Spanish decentralized finance (DeFi) investor was hit with 9 million euros ($10.5 million) in back taxes for taking out a crypto-backed loan, according to a local media report.
In a Thursday report, Spanish news outlet Periodista Digital said it obtained documents showing the investor had already declared all cryptocurrency operations and paid $5.84 million in taxes.
Moonrig Perspective
Markets are maturing — and so are narratives.
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This is where Moonrig gives you the edge:
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