Market turbulence: BTC and ETH rise and fall
The week began on a high note: Bitcoin climbed to $117K, and Ethereum nearly touched $5K. The trigger was Jerome Powell’s remarks about a softer monetary policy. But the joy was short-lived: a sale of 24,000 BTC sparked $800M in liquidations and led to a “flash crash.” As a result, BTC pulled back to $110K and ETH to $4.4K. The market showed how quickly euphoria can turn into anxiety.
Google launches Universal Ledger
Google Cloud introduced GCUL - a Layer-1 blockchain for banks and fintechs. Its key features: Python-based smart contracts, built-in KYC, and a “clean” infrastructure tailored for regulators. The launch is scheduled for 2026, but it’s already clear that the corporation wants to offer the industry a compliant alternative to the chaos of DeFi.
U.S. tightens the screws
Regulators continue to lay down rules. The SEC appointed Margaret Ryan as the new head of its enforcement division. At the same time, the Treasury and CFTC are gathering feedback on stablecoin regulation. An important signal came from the DOJ, which emphasized that writing code without malicious intent should not be considered a crime.
Trump Media bets $1B on crypto
Donald Trump’s company announced a partnership with Crypto.com: purchasing $1B worth of CRO, a $5B credit card program, and integration with Truth Social. Following the news, CRO token more than doubled in price. Plans include creating a Bitcoin reserve and applying to launch an ETF.
Bitcoin Asia 2025 in Hong Kong
On August 28–29, Hong Kong hosted the largest Asian crypto event - Bitcoin Asia 2025. For the first time, Eric Trump appeared on stage at such a conference, noting the “long-term potential” of Bitcoin and Asia’s special role in shaping digital finance.
The stage became a hub for discussions on upcoming Bitcoin ETFs, innovations for mass adoption, and new approaches to safeguarding treasury assets.
A special emphasis was placed on inclusivity: admission for thousands of guests was free, which helped attract a record audience 0 from experts to complete newcomers.
And one more detail: during Bitcoin Asia, a massive BTC symbol shined over Hong Kong — a giant Bitcoin logo billboard greeted visitors right from the airport.
Musk and his 20,000 BTC
Tesla and SpaceX collectively hold nearly 20,000 BTC — an asset worth $1.8B. Tesla owns 11,509 BTC, while SpaceX holds 8,285 BTC. Their combined profit exceeds $1.5B. A curious note: for the first time in a while, SpaceX moved over 1,000 BTC to a new address — sparking speculation about a possible portfolio reshuffle.
MicroStrategy stays the course
Michael Saylor remains committed to the “HODL” strategy. Over the past week, the company bought an additional 3,081 BTC for $356.9M. Its reserves now total 632K BTC — the largest corporate stash in history. No major corporate sales were reported during the week.
Bottom line
The week highlighted the full spectrum of the crypto market — from panic over a flash crash to Google’s big move and Trump’s billion-dollar bet. And in Hong Kong, Bitcoin Asia reminded us: Bitcoin is gaining not only more investors but also a growing stage for global dialogue.
