This Week In Crypto News

What happened in the cryptosphere this week?

It’s been a week of huge investments for the likes of LayerZero, BNB Chain, The Open Network, Ethereum, and Solana. Additionally, Ripple and the SEC have finally resolved their five-year dispute.

Let’s dive in to the latest crypto news.

China Renaissance invests $100 million in BNB

China Renaissance, a Hong Kong-based firm, is investing $100 million in the BNB Chain ecosystem. This mirrors the digit asset treasury (DAT) strategy across Asia, where several major firms are investing hundreds of millions in various tokens.

The news comes at the perfect time as BNB recently reached an all-time high price of $899. There is a debate over whether the altcoin can surpass the $1,000 mark, as it has remained less volatile than most altcoins all year.

This continues a pattern of several bullish weeks for the asset, helping build market confidence in the long term. Today, there’s no bigger sign than China Renaissance’s investment.

China Renaissance, for its part, views the Binance Coin (BNB) investment as part of an ongoing partnership. Its press release didn’t focus on a treasury strategy but rather discussed cooperation with YZi Labs (formerly Binance Labs) to support the BNB Chain ecosystem.

Some of these measures include developing fund-based products, partnering with other firms for software development, and encouraging more Hong Kong crypto exchanges to list BNB. Also, it will employ a real-world asset (RWA) fund for a similar purpose, bringing assets derived from BNB into China Renaissance’s own backyard.

So far, markets have appreciated this plan. The firm’s stock prices surged 10% after the investment.

Additionally, active addresses on BNB Smart Chain have steadily risen over the past year, nearing the 3 million mark in recent weeks. At the same time, Futures Open interest has surged past $1.6 billion alongside price gains, a sign of trader confidence.

While rising Open Interest often brings volatility risk, data suggests that BNB’s push toward the $1,000 milestone has more than just speculative fuel behind it.

BNB is fast emerging as the latest favorite for corporate balance sheets. Nasdaq-listed BNB Network Company grabbed headlines with a $160 million purchase, instantly becoming the largest institutional holder – much like Strategy’s Bitcoin (BTC) play.

Furthermore, there are also allocations from Nano Labs and Windtree Therapeutics, though Windtree’s move is clouded by Nasdaq’s delisting notice and questions over its $500 million BNB treasury plan. Then new integrations – from Ethena to RAKBANK in the UAE – continue to broaden BNB’s use cases.

Bitcoin whale reemerges with purchases worth $850 million

A dormant Bitcoin (BTC) whale has reemerged with a decisive shift toward Ethereum, locking in more than $100 million in unrealized profits as ETH prices surge.

On August 22, blockchain tracker Lookonchain flagged the wallet after it began loading up on ETH through both spot purchases and leveraged trades.

The whale, which received over 100,000 BTC nearly seven years ago, executed its first major Ethereum buys, which included a $270 million purchase of 62,914 ETH and a much larger $580 million derivatives long position worth 135,265 ETH.

These transactions signaled an intentional reallocation of holdings from a significant BTC holder of that scale. On August 23, the whale also sent 300 BTC in two separate transactions to the derivatives platform Hyperliquid, suggesting a deliberate plan to expand their Ethereum exposure rather than a one-off allocation.

At current market prices, these trades have already paid off.

Lookonchain estimates the derivatives position is up around $58 million, while the spot purchase had added roughly $42 million in paper gains. Combined, the wallet now sits on more than $100 million in profit from this pivot alone.

Beyond the profits, the whale’s shift points to a broader market trend showing that Ethereum is steadily pulling more liquidity and market interest. A CEXIO report shows Ethereum’s share of spot trading on major centralized platforms climbed above 32% in August, its highest level since 2017.

According to the firm, that shift has been partly driven by retail investors, who increased participation in sub-$3,000 order sizes, and institutions following with larger trades.

Beyond that, CEX.io pointed out that capital net position data shows that Ethereum rose 23% in August, while Bitcoin dropped by 43%. That dynamic highlights how capital rotation has tilted toward ETH, reflecting shifting confidence among traders.

So, it is unsurprising that Ethereum pumped after risk appetite improved across the crypto market following Federal Reserve Chair Jerome Powell’s Jackson Hole speech.

TON secures a $780 million treasury boost

The Open Network (TON) landed a significant investment, indicating growing institutional conviction in its long-term trajectory.

Verb Technology Company revealed treasury assets exceeding $780 million, cementing its strategic pivot toward TON. The company, soon to be renamed Ton Strategy Company, holds $713 million in Toncoin alongside $67 million in cash reserves.

The announcement follows a $558 million private placement earlier this month, backed by over 110 institutional and crypto-native investors. Most of the proceeds were used to acquire Toncoin, making VERB the first publicly traded entity to establish TON as its primary treasury reserve asset.

With a $780 million treasury announcement, staking integration into Ledger Live, and strengthening on-chain metrics, analysts are beginning to ask whether TON is positioning itself for the next major crypto rally.

“Crossing $780 million in assets just days after our private placement reflects the conviction behind TON…This is more than building a balance sheet; it’s about contributing to the security of the TON blockchain,” read an excerpt in the announcement, citing Manuel Stotz, executive chairman of the company.

Stotz noted that the firm aims to accumulate over 5% of TON’s circulating supply, reinforcing the network’s infrastructure. This is while steadily growing Toncoin per share through reinvested cash flows, staking rewards, and disciplined treasury management.

Adding to bullish momentum, P2P.org announced that it successfully integrated native TON staking into Ledger Live. The move gives millions of Ledger hardware wallet users secure, non-custodial staking access.

This marks the first validator-led staking solution inside Ledger Live, lowering the entry barrier to just 10 TON. Notably, this is far below the native requirement of 300,000. Backed by Quantstamp and trail of bits dual audits, the integration ensures institutional-grade security while preserving full user control.

“TON staking is no longer just for insiders; it’s now accessible to anyone with a Ledger device,” said Artemiy Parshakov, VP of Institutions at P2P.org.

Users can now stake or unstake with activation and withdrawal periods as short as 36 hours. Meanwhile, they are tracking compounded rewards of around 4.7% annually.

TON’s on-chain performance shows signs of strength beyond institutional and retail adoption. According to data on CryptoQuant, its Sharpe ratio, a risk-adjusted return measure, flipped from negative to positive in August. This historical indicator suggests sustained upward momentum.

With Telegram integrating TON as its exclusive blockchain for Mini Apps, wallets, and payments across its billion-plus user base, TON is already enjoying mainstream exposure unmatched by many layer-1 rivals.

LayerZero seals $120 million takeover

LayerZero has finalized the acquisition of Stargate Finance in a $120 million transaction settled entirely in its native ZRO token. This was announced as a social media post on Sunday.

On August 24, the LayerZero Foundation confirmed that the deal will consolidate two of the industry’s most widely used platforms under one governance and token framework. The acquisition was approved through a community vote, with more than 94% of Stargate DAO members supporting.

The Stargate DAO’s approval dissolves the organization and initiates the migration of STG tokens into ZRO at a fixed rate of 1 STG = 0.08634 ZRO. Both liquid and staked balances will be eligible for conversion.

LayerZero said Stargate will allocate 50% of its top-line revenue to holders for six months after the vote’s approval. The remaining half will support a buyback program designed to reduce the circulating supply of ZRO.

However, once the six-month window ends, all future excess revenue will be directed to the buyback program, further cutting ZRO’s supply. Meanwhile, Stargate’s bridge will remain fully operational, ensuring users continue to access cross-chain transfers without disruption.

Stargate has been central to cross-chain liquidity since its launch in 2021. Originally developed within LayerZero before becoming a DAO, the protocol has processed more than $70 billion across 50 blockchains.

Its reabsorption now marks one of the first nine-figure acquisitions of a decentralized organization. The deal highlights how tokenholder governance can deliver outcomes on par with traditional corporate transactions.

LayerZero co-founder and CEO Bryan Pellegrino framed the deal as a natural extension of the company’s long-term roadmap. He hinted at how Stargate will serve as both an access point for end users and a revenue-producing asset.

Ripple-SEC resolution triggers XRP ETF filings

The long-running legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) has concluded, ending one of the most closely watched courtroom battles in crypto history.

On August 22, the Second Circuit Court dismissed all outstanding appeals as both sides had wanted. Then it confirmed that transactions involving XRP on public exchanges do not qualify as securities sales, as well as endorsing the proposal with a $125 million fine.

The ruling ends a dispute that began in December 2020, when the SEC accused Ripple of raising $1.3 billion through unregistered XRP offerings. Ripple’s legal defense spanned nearly five years and cost more than $100 million, reflecting the uphill battle it faced under the hostile regulatory environment shaped by SEC Chair Gary Gensler.

Now, a new chapter is being written.

Seven asset managers, including Grayscale, Franklin Templeton, Bitwise, CoinShares, Wisdom Tree, 21Shares, and Canary, updated their filings for an XRP-focused spot exchange-traded fund (ETF).

Nate Geraci, president of investment advisory firm NovaDius Wealth, described the flurry of activity as evidence that issuers are aligning proposals and positioning for an eventual regulatory acceptance.

Notably, the SEC has not approved a spot XRP ETF product in the US despite the presence of leverage funds. Meanwhile, pro-crypto attorney John Deaton noted that October will be a critical month, as the SEC faces a series of ETF application deadlines—beginning with Grayscale on the 18th and ending with Wisdom Tree on the 25th.

Deaton pointed out that trading for these products could begin within days if the SEC approvals mirror the process for Bitcoin spot ETFs. However, their launches could take several months if the SEC demands additional disclosures, as it did for Ethereum ETFs.

Meanwhile, these developments sparked optimism in the XRP market.

At the time of writing, the token gained 3.28% during the last 24 hours and traded at $3.01.

Sharps’ stock doubles after $400 million Solana treasury plan

Medical device company Sharps Technology nearly doubled in value on Monday, with its stock soaring 96% to an intraday high of $14.53, after announcing a $400 million plan to build a Solana-based digital asset treasury.

The rally followed news of a private placement deal and a partnership with the Solana Foundation to acquire SOL, the blockchain’s native token. Sharps confirmed that it signed a letter of intent with the Solana Foundation to purchase $50 million of SOL tokens through a private investment in public equity (PIPE) transactions.

Alice Zhang, its chief investment officer, said, “We believe now is the right time to establish a digital asset treasury strategy with SOL, which will set Sharps up for long-term success.”

The offering, expected to close on or around August 28, allows investors to fund allocations using either locked or unlocked SOL and receive pre-funded and stapled warrants in return.

Several US-listed healthcare and biotech companies have already adopted cryptocurrencies as treasury assets. Hoth Therapeutics allocated $1 million in BTC last year, Atai Life Sciences followed in March with $5 million, 180 Life Sciences rebranded as ETHZilla in July and announced a $425 million Ether treasury after a 99% stock plunge.

Investor enthusiasm surged following Sharps’ announcement.

On Stocktwits, a social media platform aggregating retail market sentiment, the outlook on STSS shifted from “bullish” to “extremely bullish” within 24 hours, while message volume hit record highs.

Closing remark

China Renaissance’s investment in BNB builds on the current digit asset treasury (DAT) strategy across Asia. Then, amid institutional backing, retail-friendly staking access, and improving technical indicators (increased daily active addresses), TON may be poised for growth.

LayerZero’s integration would expand Stargate’s product suite beyond bridging and stablecoin liquidity to include swaps, vaults, and other financial infrastructure. The clarity from the SEC ruling immediately sparked movement in the investment products sector for XRP. Market observers now believe this precedent will influence future product approvals and regulatory guidance.

Finally, with seasoned executives and growing institutional backing, Sharps is betting a Solana treasury will deliver more substantial returns than traditional reserves.

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Which news item did you enjoy the most this week? Let us know in the comments.