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Bitcoin rebounds above $79K after Trump’s Canada tariff threat

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Trump refuses housing bill as CBDC ban moves toward becoming law

Bitcoin has recovered above $79,000 after briefly falling toward $78,200 as President Donald Trump threatened 50% tariffs on Canadian vehicles, automotive parts and steel from Jan. 1, 2027.

Summary

  • Trump said tariffs on several Canadian automotive and steel imports would rise to 50%.
  • Bitcoin briefly fell toward $78,200 before recovering to about $79,300.
  • U.S.-Canada trade negotiations ended without an agreement after three days of talks.
  • U.S. spot Bitcoin ETFs drew about $1.92 billion during the latest five-session rally.

Trump tariffs target Canadian vehicles and steel

A Truth Social post published by Trump on Aug. 24 said the United States would raise tariffs on all Canadian cars, trucks, automotive parts and steel to 50% at the start of 2027.

“Build in the U.S. and there are ZERO TARIFFS,” Trump wrote before criticizing Canada’s approach to trade with the United States.

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The announcement followed the collapse of negotiations between Washington and Ottawa on Aug. 21. According to Reuters, the proposed agreement would have reduced the main U.S. tariff on Canadian cars and light trucks from 25% to 15%. Duties on Canadian aluminum and steel would also have fallen from 50% to 25%.

Negotiators did not resolve several points, including whether tariff relief would cover medium- and heavy-duty trucks. With no agreement in place, Trump increased the pressure on Ottawa through his latest tariff threat.

Canada, for its part, plans to impose retaliatory tariffs on selected U.S. products from Sept. 8 in response to existing 50% U.S. duties on about $20 billion of Canadian goods. Prime Minister Mark Carney described the dispute as a trade war after the talks failed.

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“You’re at war when you get attacked,” Carney said on Aug. 22.

Trump also claimed Canada conducts 95% of its business with the United States, although official trade figures cited by Reuters show Canada sends more than three-quarters of its goods exports to the U.S. and receives almost half of its goods imports from its southern neighbor.

U.S. goods and services trade with Canada totaled $872.3 billion in 2025, making the country one of America’s two largest trading partners. The high level of integration means parts can cross the border several times before a finished vehicle reaches a dealership.

Bitcoin price has recovered from its tariff-driven dip

Bitcoin initially moved lower after Trump published the tariff announcement, falling from above $79,000 to around $78,200. Buyers soon absorbed the decline, helping BTC return above the psychological $79,000 level.

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At the time of writing, Bitcoin traded near $79,300, up more than 2% over the previous 24 hours. The cryptocurrency also came within roughly $500 of the $80,000 level after reaching an intraday high close to $79,900.

The limited reaction contrasts with Bitcoin’s behavior during earlier tariff disputes. In February, BTC lost the $65,000 support level as new U.S. global duties approached, while the total crypto market value fell as traders reduced exposure to risk assets. Earlier crypto.news coverage of that decline recorded a roughly 5% Bitcoin drop from a previous high of $66,465.

Monday’s price move has been smaller because Bitcoin entered the announcement with strong upward momentum. BTC climbed from about $62,679 on Aug. 17 to a three-month high near $79,500 on Aug. 21, adding almost 27% between the weekly low and high.

After pulling back toward $76,600 over the weekend, the asset resumed its advance on Aug. 24. The latest tariff news briefly interrupted that recovery but did not erase the day’s gain.

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Treasury buybacks have supported Bitcoin’s rally

Behind Bitcoin’s recent advance, the U.S. Treasury has expanded its liquidity-support buybacks for longer-dated government securities. The department raised the maximum size of each operation from $2 billion to at least $4 billion for bonds in the 10-to-20-year and 20-to-30-year maturity ranges.

Scheduled to take effect on Sept. 9, the revised program will also increase the number of long-end operations from two to four per quarter through Nov. 4. No money has been deployed under the expanded schedule yet.

The announcement prompted a rapid repricing in the bond market. The 30-year Treasury yield fell from a 19-year high of about 5.34% to 5.19%, while the 10-year yield declined to around 4.65%.

As earlier buyback coverage detailed, Bitcoin jumped 8.2% from an intraday low near $64,100 to $69,500 in less than 12 hours after the Treasury disclosed the change. About $1.44 billion in short positions was liquidated across major crypto exchanges during the move, including $1.29 billion within one hour.

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The buyback program does not amount to Federal Reserve quantitative easing. The Treasury purchases older and less liquid bonds using proceeds from newly issued debt, changing the composition of government liabilities without reducing the total federal debt stock.

Continued demand through regulated U.S. investment products has provided another source of buying. Spot Bitcoin exchange-traded funds attracted approximately $1.92 billion across five sessions during the latest rally.

On Aug. 20 alone, the funds recorded about $606 million in net inflows after drawing roughly $517 million during the previous session. BlackRock’s IBIT accounted for a large portion of the demand, while the combined assets held by U.S. spot Bitcoin ETFs rose above $90 billion.

Canadian tariffs carry risks for U.S. prices

For American consumers and investors, the proposed duties could affect vehicle prices and the earnings of automakers with supply chains spanning the U.S.-Canada border. Canadian plants supply engines, transmissions and other components to assembly facilities in the United States, while U.S.-made parts also move north for vehicle production.

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Flavio Volpe, president of Canada’s Automotive Parts Manufacturers’ Association, told Reuters that U.S. assembly plants depend on specific Canadian components and could face production stoppages if the tariff threat disrupts their supply.

Auto industry executives also questioned whether the 50% rate would take effect as announced, noting that Trump has previously withdrawn or revised tariff threats during negotiations. More than four months remain before the planned Jan. 1 implementation date, leaving time for Washington and Ottawa to restart discussions.

Canada’s retaliatory measures are scheduled to begin sooner. Starting Sept. 8, Ottawa plans to apply duties to selected American products in response to tariffs already ordered by the Trump administration, while the White House has not released the detailed rules governing the proposed 2027 automotive levies.

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HR World Summit South Africa Returns to Johannesburg for Its 5th Edition

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Crypto Breaking News

Bringing Together HR Leaders to Shape the Modern Workplace in South Africa

16th September 2026 | Johannesburg, South Africa

Johannesburg, 3 July 2026: As South Africa’s business landscape evolves in response to rapid technological advancement, changing workforce expectations, and increasing economic complexity, the role of Human Resources has become more strategic than ever before. Today, HR leaders are responsible for workforce planning, leadership development, employee experience, skills transformation, and building organisational capability while aligning people strategies with business priorities.

Recognizing the critical role of HR in shaping the evolving workforce, Exito Media Concepts, a global B2B events organiser, announces the 5th Edition of HR World Summit South Africa 2026, taking place on 16 September 2026 at Focus Rooms – Universe, Johannesburg. Designed as a platform for industry discussions and networking, the summit will bring together more than 200 CHROs, HR Directors, People & Culture Leaders, Talent Acquisition Heads, Learning & Development Executives, Employee Experience Specialists, business leaders, and solution providers to discuss workforce planning, leadership, talent strategy, and the future of work.

Through keynote presentations, panel discussions, fireside conversations, and interactive sessions, attendees will explore strategies for addressing today’s workforce challenges and preparing organisations for AI adoption, evolving workforce expectations, and future skills requirements. The summit offers HR leaders an opportunity to exchange ideas, build strategic partnerships, and explore current workforce trends.

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Shaping the Next Chapter of Work and Leadership

organisations across South Africa are adapting to rapid technological advances, changing workforce expectations, and shifting business priorities. Technologies such as artificial intelligence (AI), automation, and data-driven decision-making are redefining how organisations operate, compete, and manage their workforces.

To remain adaptable, organisations must rethink traditional approaches to leadership, talent management, learning, employee wellbeing, and organisational culture. HR leaders are integrating AI into HR processes, strengthening employee engagement, expanding learning and development initiatives, and building skills needed for an increasingly digital workplace. The summit agenda addresses these priorities through industry discussions, case studies, and real-world examples.

The agenda focuses on the key workforce priorities shaping HR strategy across South African organisations.

Key discussions will include:

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  • Navigating Work, Leadership, and Innovation in a rapidly changing business landscape
  • Exploring the role of Artificial Intelligence in HR and workforce planning
  • Strengthening employee wellbeing and workforce engagement
  • Building skilled workforces for an evolving world of work
  • Developing strategies to attract, retain, and develop talent
  • Building a culture of continuous learning and skills development
  • Learning from CHROs on people, culture, and change management
  • Creating inclusive workplaces that support innovation and organisational performance

These discussions will provide practical insights, case studies, and proven approaches that HR leaders can apply across talent management, leadership development, employee experience, and workforce planning.

A Platform Where HR Leaders Shape the Future

The summit will provide delegates with practical examples of workforce transformation, leadership development, HR technology adoption, and people strategy from organisations across

South Africa.

Alongside the conference sessions, attendees will have opportunities to network with peers, connect with solution providers, and exchange real-world insights on workforce trends and workforce challenges.

Learn from South Africa’s Leading HR Visionaries

The speaker lineup includes HR leaders from organisations including:

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  • Tebogo Maenetja- Chief Human Resources Officer, MTN
  • Michele Seroke- Chief Human Resources Officer, Mediclinic
  • Nomsa Lewisa- CIO Group Human Technology, First Rand
  • Mikateko Nkuna- Valoyi, Managing Executive: Talent & Culture, Vodacom
  • Lerato Thelejane- Executive: People Change Readiness and Enablement, Absa Group

Event Details

Event: 5th Edition of HR World Summit South Africa 2026

Date: 16 September 2026

Time: 9:00 am – 5:00 pm

Venue: Focus Rooms – Universe, Johannesburg, South Africa

About Exito Media Concepts

Exito Media Concepts is a global B2B events organisation with over 16 years of experience delivering conferences across technology, cybersecurity, digital transformation, healthcare, finance, human resources, and other industries.

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Exito brings together business leaders, solution providers, and decision-makers through conferences focused on knowledge sharing, collaboration, and executive networking.

For more details on the HR World Summit South Africa 2026, visit:

https://exito-e.com/hrworldsummit/south-africa/

For Media Enquiries, please contact:

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Ashrith Shetty | Senior Marketing & PR Executive, Exito Media Concepts Email: ashrith.shetty@exito-e.com

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Coinbase-Affiliated Advocacy Group Endorses Candidates for US Midterms

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Coinbase-Affiliated Advocacy Group Endorses Candidates for US Midterms

Stand With Crypto, an advocacy organization launched by Coinbase in 2023, endorsed 32 candidates for House of Representatives seats ahead of the 2026 US midterm elections based on their digital asset policy views. 

In a Monday notice, Stand With Crypto said its slate of 32 candidates for the 2026 midterm elections was part of efforts to influence digital asset policy in the federal government. The organization said it had endorsed politicians who were “proven digital asset policy champions,” also targeting competitive races “where Stand With Crypto advocate numbers are most likely to influence outcomes.”

“Crypto Voters have become a durable, motivated voting bloc, which has the potential to swing key congressional races in the midterms,” said Stand With Crypto executive director Mason Lynaugh, adding:

“The midterms come at a key inflection point for crypto policy in Washington, D.C. As candidates from both parties are trying to reach voters outside of more traditional constituencies, they overlook Crypto Voters at their own peril.”

The move comes as some experts expect crypto policy to be a potential swing issue for voters in many close elections. Stand With Crypto announced six candidates for its first group of endorsements in March — three Republicans and three Democrats — all of whom advanced from their primaries to compete in the November election.

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Related: Ripple- and Coinbase-funded PAC spends $2M in Florida race with little mention of crypto

During the 2024 election cycle, organizations and political action committees (PACs) backed by crypto companies spent more than $170 million supporting candidates they considered to favor the industry, many of whom went on to win their races. Stand With Crypto said that more than 270 “pro-crypto“ candidates were sent to Congress in 2025, potentially influencing votes on legislation like the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act.

CLARITY vote still waiting for Senate’s return

The makeup of the next US Congress in both the House and Senate could potentially impact whether a comprehensive crypto market structure bill becomes law. Although the House passed the Digital Asset Market Clarity (CLARITY) Act with bipartisan support in July 2025, the Senate’s consideration of the legislation has been marked by discussions over ethics, tokenization and stablecoin rewards.

CLARITY is scheduled for a cloture motion once the Senate returns from recess on Sept. 15, but the chamber will only have 14 days in session before breaking before the November election. After the midterms, the Senate will have another 22 days before 2027 to return the bill to the House, after which it could then head to the president’s desk for approval.

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Last week, President Donald Trump stood alongside several crypto CEOs and executives, urging the Senate to pass a “fair version” of CLARITY. However, the Trump family’s financial ties to the industry could complicate a potential vote, with a majority of Americans calling the crypto investments not “appropriate” in a recent poll.

Magazine: Bitget CEO isn’t buying the Bitcoin rally — She’s waiting for $50K

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CFO Leadership Summit South Africa Announces Its 27th Edition

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Intelligent Finance for a Digital-First Economy

17 September 2026 | Johannesburg, South Africa

Johannesburg, 3 July 2026: As organisations across South Africa adopt digital technologies, accelerate digital initiatives, advance digital capabilities, navigate economic uncertainty, and adapt to an increasingly data-driven business environment, the role of the Chief Financial Officer has evolved far beyond traditional financial stewardship. Today’s finance leaders are expected to guide capital allocation, strengthen liquidity management, improve forecasting accuracy through FP&A and predictive analytics, oversee enterprise risk, and lead the adoption of AI and digital finance technologies that support informed business decision-making.

The CFO Leadership Summit South Africa, taking place on 17 September 2026 at Focus Rooms – Universe, Johannesburg, is set to convene South Africa’s prominent finance leaders, CFOs, and industry experts to discuss how CFOs are strengthening financial resilience, improving capital efficiency, modernising finance operations, and preparing organisations for an increasingly data-driven economy. As one of the region’s prominent gatherings of finance executives, the summit will bring together over 200 CFOs, Finance Directors, Group Finance Executives, Controllers, Treasury Leaders, Risk & Compliance Heads, Tax Leaders, Digital Finance Experts, business leaders, and technology innovators to explore the strategies, technologies, and leadership approaches shaping the future of finance.

Designed as a major platform for sharing insights and executive networking, the summit will facilitate discussions among senior finance professionals, industry experts, and solution providers committed to supporting finance transformation. Through keynote presentations, executive panel discussions, fireside conversations, and interactive sessions, attendees will gain practical insights into AI-powered finance, modern FP&A, treasury optimisation, automation, ESG reporting, regulatory compliance, and enterprise risk management.

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Redefining Finance Leadership in the Digital Era

South African organisations are navigating economic uncertainty, rising operating costs, evolving regulatory requirements, and rapid advances in AI and automation. As finance teams respond to these challenges, CFOs are increasingly focused on improving forecasting accuracy, optimising liquidity, strengthening governance, and using real-time financial data to support faster business decisions. The summit has been designed to showcase practical case studies, implementation strategies, and lessons from organisations leading finance transformation.

With an agenda focused on emerging finance trends designed for finance and business leaders, the summit will spotlight the key trends transforming modern finance.

Strategic discussions will include

  • Architecting Financial Agility in an increasingly volatile and unpredictable economic landscape
  • Managing Cash Flow, Controlling Costs, and Optimising Liquidity Through Intelligent, Data-Driven Financial Strategies to Navigate Persistent Inflationary and High-Cost Business Environments
  • Advancing Precision Finance through Real-Time FP&A, Predictive Analytics, and Data-Driven Decision-Making
  • Redefining the CFO’s Role as a Growth Architect through strategic capital allocation and value creation
  • Evolving from a compliance function into a source of competitive advantage
  • Integrating ESG and Sustainable Finance to drive long-term profitability, cash flow, and operational efficiency beyond regulatory compliance

These discussions will provide finance leaders with practical approaches to improving forecasting accuracy, strengthening liquidity, modernising finance operations, adopting AI responsibly, and supporting sustainable business growth.

A Platform Where Finance Leaders Drive Business Transformation

The summit will feature a notable line-up of experienced CFOs, senior finance executives, digital transformation leaders, and industry experts representing some of South Africa’s most respected organisations. As a CFO Summit, the event will provide delegates with case studies on finance automation, AI adoption, FP&A modernisation, treasury management, ESG reporting,

regulatory compliance, and enterprise risk management.

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Beyond the conference sessions, the event will offer networking opportunities, enabling senior executives to establish professional connections, exchange ideas with peers, explore AI, FP&A, treasury, ERP, analytics, and finance automation solutions.

Learn from South Africa’s prominent Finance Visionaries

  • Mikaeel Tayob- Regional CFO, Bridgestone Middle East & Africa
  • Polani Sokombela- Chief Financial Officer, Auditor-General of South Africa
  • Qiniso Mthembu– Chief Financial Officer, Johannesburg Stock Exchange
  • Akesh Bansee- Chief Financial Officer, Unilever
  • Bradley Wentzel- Chief Financial Officer, Barloworld Equipment

Event Details

Event: CFO Leadership Summit South Africa 2026

Date: 17 September 2026

Time: 9:00 am – 5:00 pm

Venue: Focus Rooms – Universe, Johannesburg, South Africa

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About Exito Media Concepts

Exito stands for “success,” a principle reflected in every experience we create. With over 16 years of expertise, Exito Media Concepts is a globally recognised B2B events organisation delivering more than 240 conferences annually across technology, cybersecurity, digital transformation, healthcare, finance, human resources, and other emerging enterprise sectors.

Through carefully curated agendas, globally recognised speakers, and market-driven insights, Exito creates high-impact platforms that foster strategic collaboration, accelerate innovation, and enable business leaders to address the evolving challenges of their industries.

For more details on the CFO Leadership Summit South Africa 2026, visit:

https://cfoleadershipsummit.com/south-africa/

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For Media Enquiries, please contact:

Ashrith Shetty | Senior Marketing & PR Executive, Exito Media Concepts Email: ashrith.shetty@exito-e.com

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Tom Lee’s BitMine Buys $81 Million in Ethereum as ETH Hits $2,500

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Ethereum price broke above $2,500 this week during a sharp market-wide rally, and BitMine Immersion Technologies used the moment to make its largest weekly purchase since early July.

The Tom Lee-chaired firm added 32,447 ETH, pushing its position closer to a stated “5% Alchemy” target.

Ethereum (ETH) Price Performance. Source: BeInCrypto
Bitmine
Ethereum (ETH) Price Performance. Source: BeInCrypto

BitMine’s Largest Purchase in Weeks

BitMine spent $81 million to buy the new tokens, bringing its total holdings to 5,847,611 ETH, valued at approximately $14.6 billion at current prices.

Including 210 Bitcoin (BTC), stakes in Beast Industries and Eightco Holdings, and $308 million in cash and marketable securities, the company reported a combined treasury of $14.9 billion, up from $11.4 billion the previous week.

The company has purchased ETH every single week since launching its treasury strategy on June 30, 2025, a run of roughly 14 months without interruption.

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Its current holdings amount to roughly 4.8% of Ethereum’s total supply, putting the firm about 97% of the way toward the 5% threshold it has pursued publicly since the strategy began.

Roughly 5,067,309 ETH, or 87% of BitMine’s holdings, sits staked through its Made in America Validator Network.

The company projects that the position could generate around $330 million in annualized revenue, though actual returns depend on network conditions and validator performance rather than being guaranteed.

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Why Tom Lee Sees This Rally as Different

ETH traded near $2,511 as of August 24, according to BeInCrypto data, after surging roughly 30% over the past week, its strongest gain since May 2025. That climb outpaced Bitcoin’s own advance of roughly 22% over the same period.

Lee framed the past week’s price action as historically significant. This marks the largest weekly gain since May 2025, and in the two prior instances of similar magnitude, such a move signaled the launch point of a much larger rally, one he noted was followed by gains exceeding 160% in earlier cycles.

He pointed to several tailwinds behind the move: Wall Street’s growing tokenization efforts, expanding agentic AI applications built on blockchain infrastructure, supportive policy signals out of Washington, and easing broader financial conditions.

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BitMine’s continued buying, even as ETH rallies rather than dips, signals institutional conviction rather than opportunistic bottom-fishing.

As the largest publicly traded Ethereum treasury company, it positions its steady accumulation and staking operations as a structural force behind the network’s growth, regardless of short-term price swings.

Whether this week’s breakout above $2,500 marks the start of the larger move Lee described will likely depend on whether the fundamental catalysts he cited continue building momentum in the weeks ahead.

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Bitcoin Loses $80,000 as Critics Swarm Treasury's $950 Billion Buyback Plan

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Bitcoin Price Performance. Source: BeInCrypto

Bitcoin (BTC) touched $80,000 on Monday, then handed the level straight back. Critics are lining up against the US Treasury plan that sparked the move.

The token traded near $78,835 at press time. The bond market had already run this exact play last week, and it did not hold.

Bitcoin Price Performance. Source: BeInCrypto
Bitcoin Price Performance. Source: BeInCrypto

What Pushed Bitcoin to $80,000

The Treasury General Account (TGA) is the government’s checking account at the Federal Reserve. Tax receipts fill it. Treasury Secretary Scott Bessent has let it swell, with reports pegging the account near $950 billion.

Treasury’s own daily cash statement showed $935.1 billion on August 20, the latest official reading. Two senior Treasury officials told CNBC that money could fund bond buybacks.

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Treasury doubled those buybacks on August 19. Long-end operations rose from $2 billion to at least $4 billion each. The first lands on September 9, per the department’s own announcement.

Traders liked the plumbing. Spending TGA cash does not grow the Fed’s balance sheet. It just moves money into bank reserves. That reads as liquidity, and liquidity has been Bitcoin’s fuel all month.

The Bond Market Already Round-Tripped This Trade

Treasury’s own yield data tells the story. The 30-year yield hit 5.31% on August 17, its highest reading since 2007.

The buyback news knocked it down to 5.19% two days later. By August 21 it sat at 5.27%. The entire rally vanished in two sessions.

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Bitcoin tests $80,000 while US 10-year and 30-year Treasury yields slip. Source: TradingView
Bitcoin tests $80,000 while US 10-year and 30-year Treasury yields slip. Source: TradingView

Monday delivered a second bounce. The 30-year eased to 5.21% and the 10-year to 4.69%. Bitcoin’s spot price rode that wave to $80,000, then slid.

Why Critics Say It Will Not Hold

Bessent calls the strategy a “Treasury Twist.” The name echoes Operation Twist, the 1961 attempt to bend long-term rates lower.

Citadel Securities calls it financial repression. The firm warns it could weaken the dollar and stoke inflation. The deficits behind the yield spike go untouched.

Peter Schiff, chief economist at Euro Pacific Asset Management, has long warned about bond markets.

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“This reckless plan will substantially shorten the average maturity of the national debt, increasing our exposure to rising short-term rates… It’s a recipe for massive QE and runaway inflation. Got gold?” Schiff wrote.

Benjamin Chabot, a former economist at the Federal Reserve Bank of Chicago, asked the sharper question.

“Does it matter if Treasury uses the TGA to buy bonds? Probably not. TGA funds are mostly spoken for. What matters is how Treasury refills the TGA after purchases,” he stated.

Fundstrat’s Tom Lee took the other side. He says the shift favors long-duration assets, crypto included.

Treasury has not spent a dollar of the account. September 9 is when the talk becomes numbers.

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CME Group adds ENA reference rates across three regions

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Ethena plans $250M allocation as Securitize brings tokenized CLO fund to Solana

CME Group has added three regional U.S. dollar reference rates and real-time indices for Ethena’s ENA token, with daily publication beginning Aug. 24.

Summary

  • ENA reference rates now cover the London, New York, and APAC market closes.
  • CF Benchmarks calculates the rates using trades from eligible spot exchanges.
  • Daily benchmarks remain available on weekends and holidays, matching crypto’s continuous trading schedule.
  • The pricing tools may support portfolio valuation, risk controls, and ENA-linked financial products.

CME Group adds ENA rates for three market closes

CME Group said it had added Ethena (ENA) to its single-asset cryptocurrency benchmark suite, extending standardized U.S. dollar pricing to the token across three major trading regions.

CF Benchmarks, the benchmark administrator that manages CME’s cryptocurrency indices, will calculate and publish the new products. The lineup contains daily reference rates that provide a fixed valuation point, along with real-time indices that update during the trading day.

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Under the regional format, the CME CF Ethena-Dollar Reference Rate tracks the London close under the ENAUSD RR identifier. ENAUSD NY provides a New York closing rate, while ENAUSD AP covers the end of the APAC trading day.

Each rate is published at 4 p.m. in its respective region. By using three local closing times, the suite lets firms select a valuation point that corresponds with their working day instead of applying one global cutoff to a market that never closes.

Publication continues seven days a week, including weekends and public holidays. ENA trades continuously on cryptocurrency exchanges, so its price can change when traditional stock, bond, and derivatives markets are closed.

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Alongside the daily rates, the associated real-time indices provide updated dollar prices throughout the day. Trading desks may use those figures to monitor positions, compare execution prices or measure intraday exposure, while a daily rate gives accountants and fund administrators a fixed figure for reporting.

ENA pricing draws from multiple spot exchanges

Rather than taking ENA’s price from one trading platform, CF Benchmarks draws on transactions from eligible spot exchanges that meet its constituent venue rules. The method reduces the reliance on any single exchange’s order book, liquidity conditions or temporary pricing differences.

Reference rates and real-time indices serve different purposes. A reference rate produces a price at a set time and can support portfolio valuation, net asset value calculations, and contract settlement. A real-time index follows the asset during the day and can assist with trading, collateral monitoring, and risk controls.

A benchmark does not involve the purchase or custody of ENA by itself. It provides a standardized price that banks, asset managers, trading firms, or product issuers can cite when valuing exposure or designing a separate financial instrument.

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The distinction also means CME’s announcement is not the same as launching ENA futures, options, or an exchange-traded fund. Any listed product would require its own contract terms, launch process and applicable regulatory treatment; CME’s post announced pricing benchmarks and did not identify a tradable ENA contract.

CF Benchmarks already administers rates used across CME’s cryptocurrency products. In March 2025, Crypto.com became a constituent exchange for several Bitcoin and Ether indices, adding its market data to a group that also included Coinbase, Kraken, Gemini, Bitstamp, itBit, Bullish and LMAX Digital. As previously reported by crypto.news, CME said at the time that data from another eligible venue would add depth and improve pricing accuracy for those benchmarks.

CME crypto benchmarks move beyond Bitcoin and Ether

The ENA addition places the Ethena governance token beside a growing list of crypto assets covered by CME-linked pricing tools. CME’s benchmark and derivatives lineup has expanded beyond Bitcoin and Ether to assets including Solana, XRP, Cardano, Chainlink, Stellar, Avalanche and Sui.

In June, the exchange launched Nasdaq CME Crypto Index futures tied to a basket containing Bitcoin, Bitcoin Cash, Ether, Solana, XRP, Cardano, Chainlink, and Stellar Lumens. The cash-settled index contract gave market participants a way to track several cryptocurrencies through one regulated product without holding the underlying tokens.

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CME also introduced standard and micro futures for Avalanche and Sui in May. Both products settle in cash against their respective CME CF reference rates, illustrating how a standardized spot benchmark can later support settlement for a listed derivative when the exchange launches one.

No comparable ENA derivative was included in the Aug. 24 announcement. The immediate addition consists of the three daily regional reference rates and their corresponding real-time indices.

For U.S. firms, the New York variant supplies an ENA price at 4 p.m. local time, aligning the benchmark with the close of the American equity trading day. Fund administrators operating on U.S. schedules can therefore value ENA exposure at a familiar cutoff, even though the underlying token continues trading afterward.

American investors should not treat the benchmark’s inclusion as regulatory approval of ENA or an endorsement of Ethena’s products. CME Group operates major U.S. derivatives markets, but the announcement concerns the availability of pricing data rather than the legal classification of the token or authorization of a new investment product.

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Ethena expands its institutional market connections

ENA’s addition follows several steps that have brought Ethena’s ecosystem into institutional trading and asset-management channels. The token governs the protocol behind USDe, a synthetic dollar whose backing model uses crypto assets, derivatives positions and other approved reserve arrangements.

On Aug. 19, Ethena and FalconX launched a $1 billion secured lending facility that uses part of USDe’s backing assets to finance overcollateralized loans for institutional borrowers. Under the institutional lending facility, FalconX originates and services loans through a special-purpose vehicle, while qualified custodians hold collateral worth more than each borrower’s outstanding balance.

Ethena had already incorporated institutional lending into USDe’s backing structure earlier in 2026. Governance records cited in August showed agreements with Anchorage Digital, Maple Institutional, and Coinbase Asset Management had been completed during March and April.

In June, BlackRock integrated USDe into its Aladdin investment platform, which is used by institutions overseeing more than $20 trillion in assets. Ethena also said BlackRock’s BUIDL tokenized fund would serve as a main asset for a white-label product and support liquidity arrangements involving tokenized assets.

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Coinbase Ventures separately disclosed an open-market ENA purchase in June as Coinbase and Ethena prepared products focused on on-chain finance and savings. Unlike a discounted private allocation, the venture arm acquired its ENA position through the public market.

More recently, ENA gained about 65% in the week leading up to Aug. 21 and approached $0.1465 following the FalconX agreement. A technical review of ENA found that its four-hour relative strength index had climbed close to 94, an overbought reading that increased the risk of profit-taking even as the token retained its upward momentum.

The same analysis placed resistance at $0.1465, followed by potential levels at $0.1587 and $0.1709, while support stood near $0.1343, $0.1221, and $0.1099. CoinGlass data cited in the report showed leveraged-position clusters around $0.118 to $0.120, with additional liquidity between $0.104 and $0.116.

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XRP Price Prediction: $1.50 Pullback, or End of the Rally?

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XRP trades at just under $1.50 after failing to hold the handle. The question now is whether this is a routine cooldown or the start of something uglier. Here’s our full XRP price prediction.

Just last week, XRP spiked over 20%, briefly touching $1.70 on August 22, its highest print since January. The rally unwound fast once Bitcoin stalled near $80,000 and dropped below $76,000, triggering a market-wide leverage flush that dragged XRP down with it.

Daily RSI hit roughly 80, way overbought territory, just right as price hit the $1.70 resistance zone, an area stacked with trapped longs from multiple 2025 swing highs looking to break even.

Bitcoin has since clawed back to around $77K, but the broader market has largely priced in last week’s positive catalysts and needs something new to keep pushing higher. For XRP specifically, that “something new” has a name and a date: the Clarity Act, potentially hitting the Senate floor in mid-September.

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XRP Price Prediction: Hit $1.70 Again This Week?

XRP is consolidating in a tight band between $1.45 support and $1.51 resistance, with the daily pivot sitting at $1.49, essentially a coin flip zone. Volume has cooled from last week’s frenzy, a sign the FOMO-driven buying has largely exhausted itself for now.

Trading above every major daily moving average still technically favors bulls, but stretched momentum after a 51-52% weekly gain rarely resolves cleanly. If A Senate vote on the Clarity Act in September removes regulatory overhang, spot volume could surge, and XRP could clear $1.70 to challenge $2 and eventually $3.

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However, price could chop in the $1.40-$1.51 range while the market waits for a catalyst, testing patience more than conviction. A clean break below $1.45 opens the door to the 0.382 Fibonacci support at $1.35-$1.40, with deeper structural floors at $1.25 and $1.18 if momentum fully unwinds.

A bullish structure survives a test of $1.35, but it won’t survive a break below it.

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LiquidChain Targets Early Mover Upside as XRP Tests Key Levels

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Anyone who bought XRP under $1.20 last week is sitting comfortably. But here’s the uncomfortable math: even a clean breakout to $3 from here is roughly a 2x from current levels. It’s solid, but not the kind of move that changes a portfolio’s trajectory.

At XRP’s market cap, the era of 50x moves is over. That capital has to go somewhere if traders want asymmetric upside, and increasingly it’s rotating toward earlier-stage infrastructure plays.

LiquidChain is one of the presales absorbing that rotation. It’s a Layer 3 execution environment fusing Bitcoin, Ethereum, and Solana liquidity into a single unified layer. With Liquid, developers deploy once and reach all three ecosystems, rather than fragmenting liquidity across chains.

The presale sits at $0.0149 per token with $950K raised so far, still 100X from here to the current XRP price.

Core features include Single-Step Execution and Verifiable Settlement, both aimed at solving the cross-chain liquidity fragmentation problem that’s plagued DeFi for years.

Research LiquidChain while the raise is still active.

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Bitcoin Near $80K as 24-Hour Crypto Short Liquidations Top $220M

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Crypto Breaking News

Bitcoin reclaimed the $80,000 level on Monday, pushing through a key psychological and technical milestone after last week’s sharp rally drew fresh momentum from traders. The breakout marked BTC’s first trade above $80,000 since mid-May, with price up roughly 3% at the time of reporting before easing after the European session.

As the market tested higher levels, activity on leveraged venues also picked up—most notably in short liquidations—underscoring how crowded positions may have been forced to unwind during the advance.

Key takeaways

  • BTC/USD moved above $80,000 for the first time since May 15, ending a more than three-month absence from that range.
  • CoinGlass data showed crypto short liquidations passed $220 million over the prior 24 hours as Bitcoin approached the $80,000 mark.
  • Support appears to be clustering around the mid-$70,000s, with a bid liquidity band centered on $76,700, according to a CoinGlass liquidation heatmap.
  • Analyst Rekt Capital said the “real test” will be whether Bitcoin can sustain strength, pointing to the 50-week exponential moving average near $77,251.

Bitcoin breaks back above $80,000 for the first time since May

TradingView charts showed BTC/USD crossing $80,000 for the first time since May 15, reaching the level during the Wall Street open. The move came alongside another roughly 3% gain on the day before pullbacks occurred following the European close, suggesting the market was still digesting the breakout rather than entering immediately into a smooth trend.

This return matters because it represents more than a single price point. Levels around $80,000 have historically functioned as both a reference for market positioning and a threshold traders watch for continuation signals. When Bitcoin re-enters a range it previously failed to hold for months, it can quickly shift expectations for whether the market is simply rebounding or genuinely transitioning to a stronger phase.

Short liquidations surge as leveraged traders unwind

Higher prices drew in additional leverage-related activity. According to CoinGlass, crypto short liquidations exceeded $220 million over the preceding 24 hours at the time of writing. While liquidations can occur in both directions, large short liquidation bursts typically accompany fast upward moves as price rallies force shorts to cover.

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CoinGlass also highlighted a liquidation heatmap feature: a band of bid liquidity centered around $76,700. In practical terms, that cluster can act as a near-term “gravity point” during pullbacks—buyers who respond to forced liquidation dynamics may help slow a downside reversal if price falls back toward that zone.

Still, it’s important to remember that liquidation clusters are reactive, not predictive. They can help explain why certain retracements stabilize, but they don’t guarantee that a move back down will be limited or that new support will permanently hold.

The focus shifts from rally to “staying power”

Even with Bitcoin returning to a key higher range, market observers emphasized that sustaining the breakout is the real challenge. Earlier coverage from Cointelegraph had flagged concerns among some traders that bearish market patterns could reassert themselves later in the year, with downside potentially returning from September onward to trigger broader capitulation to new macro lows.

In that context, the latest push above $80,000 looks less like a finish line and more like the opening stage of a longer test. Rekt Capital, a trader and analyst, argued in his market commentary that Bitcoin must prove it can hold those levels. He pointed out that Bitcoin has closed the week at the highs and framed the next phase as a “real test” for whether strength persists.

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“Bitcoin has Weekly Closed at the highs. Now starts the real test,”

Rekt Capital also cautioned that if the rally is only a “bear market relief” bounce, Bitcoin could pull back as early as the current week or within the following few weeks. That distinction—relief rally versus durable trend—has major implications for traders and portfolio managers because it changes expectations around volatility, timing of entries, and the likelihood of retesting lower ranges.

Key technical level in view: the 50-week EMA

Rekt Capital highlighted one technical benchmark in particular: the 50-week exponential moving average, currently around $77,251. He noted that Bitcoin achieved its first weekly close above that trend line since November 2025.

He also drew a comparison to the 2022 bear market, when BTC/USD managed two weekly closes above the same type of trend line before subsequently dropping to cycle lows. The point of the comparison isn’t to claim a repeat outcome, but to show how quickly markets can revert when trend-breaking closes occur without sustained follow-through.

For investors watching this level, the near-term question becomes whether price can remain above a widely tracked dynamic benchmark long enough to change market structure. If Bitcoin continues to close above the 50-week EMA and keeps higher levels defended on retracements, it would strengthen the case that the rebound is progressing into something more persistent. If not, the market may revert back toward the mid-$70,000s where liquidation-driven support has begun to form.

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Next, traders are likely to monitor whether Bitcoin can hold above $80,000 on subsequent sessions and, more importantly, whether weekly closures continue to support the breakout thesis. The debate between “relief rally” and “sustained strength” will likely hinge on follow-through around the 50-week EMA near $77,251 and how price behaves during pullbacks toward the liquidation liquidity band centered at $76,700.

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Breaking Down the Ending of Spooky in Love

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Breaking Down the Ending of Spooky in Love
Park Eun-bin and Yang Se-jong in Spooky in Love —Courtesy of TvN

Extraordinary Attorney Woo’s Park Eun-bin and Doona!’s Yang Se-jong star as ghost-whispering hotel heiress Cheon Yeo-ri and ace prosecutor Ma Gang-uk, respectively, in the supernatural romance series Spooky in Love. In the Korean drama, which broadcast domestically on tvN and was distributed globally by Netflix, Yeo-ri and Gang-uk are initially brought together by their shared desire for justice. For Yeo-ri, this takes the form of helping the ghosts she alone can see. For Gang-uk, it means doing a good, by-the-book job as an investigator. But when Gang-uk learns Yeo-ri’s secret, the two grow closer.

While Spooky in Love starts out with a strong, ghost-of-the-week format, the second half of the drama leans more into corporate in-fighting and family drama as context for Yeo-ri and Gang-uk’s romance. When Chairwoman Baek insists that Yeo-ri get engaged in order to secure a more stable future for the hotel and resort company, Yeo-ri side-steps the advances of family friend and fellow chaebol Kang Min-hwan (Ong Seong-wu) to announce she is engaged to Gang-uk. What starts as a fake relationship to keep Yeo-ri’s grandmother off of her back soon develops into the real thing. But can Yeo-ri and Gang-uk’s love survive Min-hwan’s machinations to take control of both Yeo-ri and her company? Here’s everything that happens in the Spooky in Love finale.

Yeo-ri’s supernatural powers, explained

Park Eun-bin as Yeo-ri —Courtesy of TvN

Yeo-ri wasn’t born with the ability to see ghosts. She developed it 12 years prior to the start of the series, when she nearly died in the mysterious yacht accident that killed her boyfriend and Min-hwan’s little brother, Kang Ji-hwan (Kim Min-chul). The condition has ghosts constantly nagging Yeo-ri for help, and also keeps her isolated from the land of the living. If she touches hands with someone else, they will temporarily gain the ability to see ghosts for a month. As a result, she wears gloves constantly, and keeps a physical distance from her friends, family, and co-workers. 

The stakes of Yeo-ri’s secret are intensified due to the power her family holds. Yeo-ri is the heir to the Reina Group, a corporate hotel chain that wields immense wealth. Yeo-ri’s grandmother, Baek Kyung-ja (Ye Soo-jung), plans to pass the baton to Yeo-ri—rather than step-daughter Ok Gye-hui (Baek Ji-won) or her adult children, Ha-ri (Cho Hye-joo) and Don-jun (Lee Dal). However, if Chairwoman Baek, or the larger public, finds out that Yeo-ri is haunted by ghosts, it could call her ability to run the family corporation into question. 

Still, Yeo-ri’s sense of justice runs deep. In Spooky in Love’s early episodes, Yeo-ri is visited by the ghost of Jang Eun-ju (Yoon Hye-rim), a young woman who was murdered by her boyfriend, Park Seung-jae (Kim Do-wan), after she becomes pregnant with their child. Seung-jae is well-connected. Not only is he a rich pro golfer, but his father is one of the leading contenders in the next presidential race. When he is initially tried for murder, with Gang-uk acting as prosecutor, he is acquitted due to his father’s immense influence. It is only when Gang-uk and Yeo-ri team up that they are able to gather more evidence, and definitively pin the murder on Seung-jae.

What happened on the yacht?

Yeo-ri grew up close to Kang Ji-hwan and Kang Min-hwan, brothers poised to inherit ownership of CL Raymond Group. Though both brothers had feelings for Yeo-ri, Ji-hwan was the first to ask her out. For Min-hwan, this intensified the jealousy he had long felt of his little brother. Jin-hwan, who looked up to his brother, didn’t realize that he was often treated better by some members of the family compared to Min-hwan, who was adopted. When Jin-hwan started dating Yeo-ri, it was the final straw for Min-hwan.

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On the day of the accident, the brothers are out on a yacht with their friends, including Yeo-ri and fellow rich kid Park Seung-jae. We learn in the penultimate episode that when the yacht hit a rock and Jin-hwan was thrown over the side, Min-hwan had the chance to pull his brother back onboard, but let the pleading Jin-hwan fall into the water below instead. Jin-hwan dies, and Yeo-ri, who also went overboard in the accident, is rescued from the water. She is wearing a protective pendant gifted to Jin-hwan by his grandmother. He asked her to wear it while they were on the boat, joking that, if something should happen, she should live and he will die. 

Later, Yeo-ri and Gang-uk seek out the shaman who made the pendant. The original maker is dead, but her daughter informs them that the power of the pendant changed Yeo-ri and Jin-hwan’s fates. That power, paired with Yeo-ri’s inability to let Jin-hwan move on in the immediate aftermath of the accident, led to Yeo-ri’s ability to see ghosts. The shaman tells Gang-uk and Yeo-ri that, in order for Yeo-ri to stop seeing ghosts, she owes the afterlife a life.

Gang-uk’s connection to Jin-hwan

Gang-uk, who was raised by his grandmother, did not grow up in the same social circles as Yeo-ri, Min-hwan, and the other members of the chaebol class. However, he shares a unique connection to Jin-hwan. When Jin-hwan died, a sick Gang-uk was given Jin-hwan’s heart. The transplant allowed him to live on. Ever since, Jin-hwan and Min-hwan’s mother, Song Hee-won (Kim Seo-ra) has kept tabs on Gang-uk through his grandmother. Though she lost one of her sons, it makes her happy to see Gang-uk doing well. 

Min-hwan’s crimes escalate

Kim Do-wan as Park Seung-jae, a victim of Min-hwan’s scheming —Courtesy of TvN

This truth of Jin-hwan’s death is known only by Min-hwan for more than a decade. Yeo-ri doesn’t remember what happened during the accident and, even if she did, she didn’t witness what occurred between the brothers that day. However, when Seung-jae temporarily gets out of jail to attend his father’s funeral, he happens to stumble upon a camcorder memory card with footage of Min-hwan choosing not to save Jin-hwan. Seung-jae attempts to blackmail Min-hwan with the evidence. When the two meet up in an abandoned warehouse, Min-hwan kills him for it.

Gang-uk finds Min-hwan’s cufflink at the scene of the crime, but Min-hwan counters. He hires someone to hit Gang-uk with a truck. Yeo-ri pushes the man she loves out of the way at the last second, saving his life and putting her own in grave danger. She is hit by the truck, and ends up in a coma. As Yeo-ri’s life hangs in the balance, we see her traverse a beautiful kind of purgatory. The ghosts she has helped in the past 12 years, including Eun-ju, are waiting for her there. They lend her some of their warmth to keep her from crossing to the other side. 

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Yeo-ri and Jin-hwan balance the scales

Still, Yeo-ri finally does make it to a Styx-like river, a boundary between the world of the living and the world of the dead. Before she can step onto the boat that would bring her across, the ghost of Jin-hwan appears to take her place. The two share a teary conversation in which they process Jin-hwan’s death. Yeo-ri apologizes for living instead of him, but Jin-hwan doesn’t see it that way. He says she still has so much to live for, and that the ghosts she has helped are rooting for her. When Yeo-ri wakes back up, she no longer has the power to see ghosts. Jin-hwan has crossed to the other side; the afterlife has been given the soul it was robbed of 12 years prior. 

Min-hwan is brought to justice

Unbeknownst to Min-hwan, Seung-jae has hidden the memory card in a hollow golf ball at the warehouse. When Yeo-ri and Gang-uk are investigating, they find the card and have the evidence to take Min-hwan down. In the most dramatic way possible, Yeo-ri reveals the evidence to Min-hwan’s mother and the other people gathered at Jin-hwan’s memorial service. More than losing his power or going to jail, Min-hwan seems most distraught at the idea of his mother discovering his betrayal. A year later, when she visits her remorseful son in jail, she tells him that after he has finished serving his time, she will be waiting for him. Min-hwan, who always thought his mother’s love for her biological son diminished her love for her adopted son, can perhaps finally see otherwise.

Does Spooky in Love have a happy ending? 

Spooky in Love has the happiest of endings. A year following the main events of the series finale, Yeo-ri is announced as the new chairwoman of Reina. Yeo-ri and Gang-uk are happily together. Gang-uk, who had been transferred out of Seoul after reporting internal corruption at the prosecutor’s office, has just received a promotion back in the capital city where Yeo-ri lives. The two visit Siena Hall, the Reina wedding property that symbolizes Yeo-ri’s late parents’ love for one another, and walk together, hand in hand. 

When the two first started falling for one another, Yeo-ri had said that her greatest wish was to walk hand-in-hand with the person she liked. Then, she was too afraid to touch anyone, burdened by the certainty she would pass her curse onto them. Now, she does so, unafraid. The simple scene doesn’t just demonstrate the love between Yeo-ri and Gang-uk; it demonstrates the intimacy and warmth Yeo-ri is able to let into her life more broadly. She is no longer alone, and Gang-uk is only one part of that reality.

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ZondaCrypto CEO Seeks Leniency to Testify on Political Links: Report

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Crypto Breaking News

Polish prosecutors have reportedly charged Przemysław Kral, the head of the collapsed cryptocurrency exchange Zondacrypto, in connection with an alleged large-scale fraud, and he has started cooperating with investigators, according to reporting from Onet.

Onet says Kral is seeking a reduced sentence in exchange for testimony that could include details about how Zondacrypto funding was linked to right-wing political figures in Poland. Prosecutors estimate that Zondacrypto customers lost at least 2.4 billion Polish zlotys (about $650 million), and investigators allege that only part of customer funds was used to buy crypto, while the remainder was moved to private accounts controlled by exchange managers.

Key takeaways

  • Przemysław Kral of Zondacrypto has reportedly been charged and is cooperating with Polish prosecutors.
  • Prosecutors estimate customer losses at least 2.4 billion zlotys (about $650 million).
  • Investigators allege Zondacrypto used only a portion of customer funds to purchase crypto and diverted the rest to private accounts.
  • Kral is reportedly trying to secure a reduced sentence through testimony, potentially touching on alleged exchange-related political funding.
  • Earlier public statements included a claim that Zondacrypto could not access a cold wallet holding roughly 4,500 Bitcoin.

Cooperation talks and the alleged damage

Onet reports that prosecutors estimate Zondacrypto customers lost at least 2.4 billion zlotys. The outlet also states investigators believe the exchange did not preserve customer money in full, but instead used only part of customers’ funds to buy cryptocurrency, with additional amounts allegedly transferred to private accounts under the control of Zondacrypto’s managers.

According to Onet, Kral began exploring cooperation conditions weeks ahead of the reported charge outcome. The outlet previously reported that he had been negotiating the terms of possible collaboration with prosecutors for about six months.

That reporting also described informal meetings between Kral and prosecutors in Poland as well as in locations including Sicily and parts of the Persian Gulf, where discussions reportedly focused on the structure of a potential deal.

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Allegations tied to political connections

In the newest Onet report, the outlet says Kral is seeking a lighter sentence by offering testimony that could include details about alleged Zondacrypto involvement with funding right-wing politicians.

The political angle is not new to the Zondacrypto case. Onet previously reported that Zondacrypto had acted as a key sponsor of Poland’s Conservative Political Action Conference (CPAC) shortly before the second round of the presidential election, which was won by Karol Nawrocki.

Onet also notes that in its final year, Zondacrypto spent 37 million zlotys on advertising with broadcaster Telewizja Republika. The outlet further claims that companies owned by Kral made payments to foundations linked to politicians Zbigniew Ziobro and Przemysław Wipler.

What Kral said earlier about the missing Bitcoin

Since mid-April, Kral has remained publicly silent on X after disclosing that Zondacrypto was unable to access a cold wallet reportedly holding about 4,500 Bitcoin. Earlier coverage from Cointelegraph noted the wallet access issue and described the resulting withdrawal crisis.

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Kral has denied accusations of misappropriating customer funds. He said the private keys for the wallet were intended to have been transferred by Zondacrypto founder and former CEO Sylwester Suszek, who has been missing since 2022.

That explanation has been central to how the case has been discussed publicly: rather than conceding fund loss, Kral pointed to an alleged custody and key-transfer failure involving Suszek. Prosecutors’ latest estimates and alleged diversion of funds, as described by Onet, suggest investigators view that narrative differently.

Unanswered questions as the probe expands

As the case moves into the cooperation phase, several issues remain unclear based on the available reporting. Onet’s claims focus on the scale of customer losses and the alleged path of diverted funds, but they do not establish in detail how investigators quantify losses or reconcile them with any remaining assets, including the purported cold wallet.

Cointelegraph reported that it was unable to reach Kral or Zondacrypto for comment. The outlet said email addresses connected to the exchange were unavailable after Kral’s April disclosure about the wallet access problem.

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For investors and market participants, the Zondacrypto situation underscores a persistent pattern seen in major exchange collapses: customer assets may be at risk not only through outright theft, but also through custody failures, opaque internal controls, and use of funds in ways that do not align with client expectations. The investigation’s alleged findings—customers’ funds being partially used for purchases while the rest allegedly moved to private accounts—highlight why transparency around wallet management and auditability matters, especially in jurisdictions where recovery and enforcement can take time.

Readers should watch next for what Kral’s cooperation ultimately produces in court filings—particularly whether testimony about alleged political funding is corroborated by evidence and how prosecutors account for the missing Bitcoin and any other recoverable funds. The case also raises broader questions about how regulators and law enforcement will evaluate the relationship between exchange operations, third-party entities, and political influence when rebuilding trust after a collapse.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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