Senin, 18 Agustus 2025

Fed pulls plug on crypto oversight


Plus, Coinbase says altcoin season could break any day now.	͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏	View in browser

Your weekly roundup of the 🔥hottest news in crypto:

US Fed Ends Crypto Oversight Program, Coinbase Says Altcoin Season May Be Ahead, & Other News

Aug. 10 - 16

#1

US Fed to end oversight program for banks' crypto activities

The Federal Reserve Board said that it would end a "novel activities supervision program" set up in 2023 to supervise certain activities related to crypto assets and distributed ledger technology.

In a Friday notice, the Fed said it will sunset the program created in August 2023 and return to "monitoring banks' novel activities through the normal supervisory process." The 2023 program said it would be "risk-focused" and include supervision of banks providing "deposits, payments, and lending to crypto-asset-related entities and fintechs."

"Since the Board started its program to supervise certain crypto and fintech activities in banks, the Board has strengthened its understanding of those activities, related risks, and bank risk management practices," said the Fed. "As a result, the Board is integrating that knowledge and the supervision of those activities back into the standard supervisory process and is rescinding its 2023 supervisory letter creating the program."

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#2

Coinbase says a 'full-scale altcoin season' may be just ahead

Altcoins have seen significant recent growth, while crypto market conditions suggest there could soon be a shift toward cryptocurrencies outside of Bitcoin, according to Coinbase.

"We think current market conditions now suggest a potential shift towards a full-scale altcoin season as we approach September," Coinbase's global head of research, David Duong, wrote in a monthly outlook report on Thursday.

The Coinbase analyst joined a growing chorus of traders and market observers tipping for an imminent altcoin season.

The firm defines altcoin season as when at least 75% of the top 50 altcoins by market capitalization outperform Bitcoin over the preceding 90 days.

Duong added that there was "significant retail capital sitting on the sidelines" in money market funds, and Federal Reserve easing could "unlock greater retail participation in the medium term."

#3

Justin Sun, Bloomberg in legal dispute over billionaires index

Justin Sun, founder of the Tron blockchain, has sued Bloomberg and sought a temporary restraining order, alleging it published false and private financial information in its billionaires list.

Sun's representatives said on Tuesday in a blog post by Tron that his profile on the Bloomberg Billionaires Index released on Monday had "published inaccurate data that dramatically and dangerously misrepresents Mr. Sun's assets."

Sun sued Bloomberg in a Delaware federal court on Monday, asking a judge to stop it from publishing the information, claiming the action was to prevent the outlet from "recklessly and improperly disclosing his highly confidential, sensitive, private, and proprietary financial information."

Lawyers for Bloomberg said in a letter to the court on Tuesday that the company will oppose Sun's application for a restraining order and asserted "the entire basis" of the application was moot as the outlet had published the information before the application was filed.

Prediction of the Week

Ether bull flag targets $6K as ETH supply on exchanges falls to 12%

Ether price registered a multi-year high of $4,792 on Thursday after a 45% rise from its Aug. 3 low at $3,354. The price is now consolidating below its $4,867 all-time high after validating a classic bullish continuation pattern.

Can Ether's price rise 34% in the next few days?

ETH rallied more than 126% between June 22 and Thursday to reach a multi-year high just below $4,800. The latest rally saw the price breach the resistance provided by the upper boundary of a bull flag at $3,770 on the daily chart, confirming a bullish breakout.

A bull flag is a continuation pattern that occurs after a significant rise, followed by a consolidation period at the higher price end of the range.

Ether has confirmed a "textbook bull flag" in the daily time frame, said trader Mister Crypto in an earlier analysis on X.

FUD of the week

New BIS plan could make 'dirty' crypto harder to cash out

The Bank for International Settlements (BIS) has proposed a provenance-based risk score system for crypto-to-fiat off-ramps.

In its Wednesday BIS Bulletin, the institution outlined "an approach to anti-money laundering compliance for cryptoassets," recommending that a compliance score be assigned to crypto holdings before they are exchanged for fiat currency.

"An AML compliance score based on the likelihood that a particular cryptoasset unit or balance is linked with illicit activity may be referenced at points of contact with the banking system," the document said. The score would then be used to prevent inflows of illicit funds and encourage a "duty of care" among crypto market participants.

The BIS said existing Anti-Money Laundering (AML) approaches relying on trusted intermediaries have "limited effectiveness" in the context of crypto. Public blockchain transaction histories could provide valuable tools for compliance monitoring, it said.

FUD of the week

BtcTurk halts withdrawals amid suspected $48M crypto hack

Turkish cryptocurrency exchange BtcTurk has halted withdrawals amid reports suggesting that the platform has suffered a major loss of funds due to a hack.

Cybersecurity firm Cyvers took to X on Thursday to report that it had detected $48 million worth of digital assets, including Ether, involved in unusual activity.

"Our system detected multiple alerts across ETH, AVAX, ARB, BASE, OP, MANTLE and MATIC networks," Cyvers reported, adding that the attacker had moved the assets to two addresses and begun swapping them.

BtcTurk subsequently halted deposits and withdrawals, citing a "technical issue" with hot wallets, reporting that trading and local currency withdrawals and deposits remained intact.