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IREN shares fell as rising costs from its accelerated data-center conversion weighed on the Bitcoin miner. AI cloud revenue surpassed Bitcoin mining revenue for the first time, shifting the company’s revenue mix toward artificial intelligence.
Bitcoin dropped to $78,630 after Fed Chair Kevin Warsh said he had “more work to do” to fight inflation, then rebounded. The cryptocurrency was recently trading at $79,474, according to Bitcoin Magazine.
Bitcoin fell to $78,400 after failing to break decisively above $80,000. Traders assessed Fed Chair Kevin Warsh’s Jackson Hole speech, which remained cautious about US inflation despite softer recent readings.
Fed Chair Warsh’s first Jackson Hole keynote gave Bitcoin traders no indication of the Fed’s September rate decision. With inflation still running hot, markets remain without clear guidance on near-term monetary policy.
Cointelegraph reports that Bitcoin’s rebound to $80,000 is lifting crypto-related stocks. Circle, Strategy and Solana highlight the roles of capital markets, stablecoins and onchain growth in the sector’s recovery.
BitGo plans to acquire NYDIG IF Holdings, NYDIG’s trading arm, for $7 million in cash and approximately $35.5 million in stock, plus a potential $15 million earnout, CoinDesk reported.
Fed Chair Kevin Warsh struck a hawkish tone on inflation at Jackson Hole, saying more work remains. Traders quickly raised their expectations for a September rate hike after the remarks.
Cointelegraph explores who may face legal liability if a personal AI agent acts unexpectedly and causes real-world harm or financial damage, an open question with potential relevance for technology and digital-asset markets.
Polish Olympic Committee president Radosław Piesiewicz faces charges in a prosecutorial investigation into his ties to collapsed cryptocurrency exchange Zondacrypto, Poland’s justice minister said, according to Cointelegraph.
The Clarity Act has slipped to September, but banks continue building crypto-related infrastructure. A CoinDesk opinion piece says prolonged regulatory uncertainty benefits closed platforms and delays a broader market structure.
Ethena, issuer of the $4 billion USDe token, expects real-world asset perpetuals to become a larger part of its backing than crypto derivatives within 12 to 24 months, as equity perpetuals gain momentum.
SBI is buying a 20% stake in Indonesian online brokerage Ajaib for $270 million. The Japanese financial group plans to use the investment to expand a yen stablecoin and build a blockchain-based cross-border settlement network in Southeast Asia.
Solana is in focus as two major network proposals near passage, inflation is set to decline, leading DATs return, and Charles Schwab offers SOL to clients, according to Decrypt.
California’s Senate passed a bill seeking to block listings of memecoins issued by federal public officials for state residents. Cointelegraph said the proposal cites conflicts of interest and potential “pay-to-play arrangements.”
CoinDesk says Bitcoin is outperforming stocks while correlating more closely with gold. The Aug. 28 market note highlights BTC’s changing cross-asset behavior, with spot gold as the key comparison.
French Bitcoin treasury firm Capital B raised $24.5 million in a private placement backed by Adam Back and TOBAM. Warrant exercises could provide up to another $158 million amid cryptocurrency market uncertainty.
UK police seized 20.21 BTC worth about $1.4 million that was linked to darknet marketplaces active from 2016 to 2019. The Bitcoin’s holder died before the cryptocurrency was forfeited, Decrypt reported.
