Cryptocurrency
Sam Bankman-Fried’s life in jail, Tornado Cash’s turmoil, and a $3B BTC whale: Hodler’s Digest, Aug. 20-26

Top Stories This Week
Tornado Cash co-founders charged with money laundering, sanctions violations
United States officials pressed charges against the co-founders of crypto mixer Tornado Cash on Aug. 23. Roman Storm and Roman Semenov were both charged with conspiracy to commit money laundering, conspiracy to commit sanctions violations and conspiracy to operate an unlicensed money-transmitting business. Storm was arrested and released on bail a few days later, while Semenov was added to the U.S. list of Specially Designated Nationals and Blocked Persons. Combined, the charges carry a maximum sentence of 45 years in prison. The third Tornado Cash co-founder, Alexey Pertsev, was arrested in the Netherlands on money laundering charges in August 2022. The law enforcement actions are a continuation of a U.S. government crackdown on Tornado Cash that began last year due to its alleged role in laundering funds of the Lazarus Group, a North Korean-linked hacking collective. Tornado Cash has been implicated in several other hacks as well. All told, the mixer has laundered over $1 billion in ill-gotten gains, the U.S. Department of Justice alleges.
Sam Bankman-Fried is low on meds, living on $3 peanut butter in prison
FTX founder Sam Bankman-Fried appears to be having a tough time behind bars, eating only bread with peanut butter to accommodate his vegan diet while exhausting his supply of prescription medication. In the same hearing where Bankman-Fried pleaded not guilty to seven fraud-related charges, his lawyers pleaded for the former FTX CEO to receive better treatment inside Brooklyn’s notorious Metropolitan Detention Center. Also this week, Bankman-Fried was granted permission to meet with his legal team outside of jail with 48 hours’ notice. Every day, he will have roughly seven hours to prepare for his upcoming trial expected to begin in October.
Mystery solved: Bitcoin wallet accruing $3B in 3 months is identified
The mysterious Bitcoin wallet that surged up the ranks to become the third-largest holder of Bitcoin in the world in just over three months, has been identified. Blockchain intelligence platform Arkham Intelligence labeled the wallet as Robinhood: Jump Trading Custody. According to data from crypto statistics platform BitInfoCharts, the wallet address first received Bitcoin on March 8. Over the course of the next three months and two weeks, the wallet had accrued a staggering 118,000 BTC — worth $3.08 billion at current prices. The current largest Bitcoin wallets in the world, according to BitInfoCharts, are reportedly owned by Binance and Bitfinex — as Bitcoin cold wallets.
Prime Trust parent company lost $8M investing in TerraUSD
The parent company of crypto custodian Prime Trust — currently involved in Chapter 11 bankruptcy proceedings — has reported losing roughly $8 million in client and treasury funds through TerraUSD investments, presumably when the algorithmic stablecoin collapsed in May 2022. The company described the investment as well as a ramping up of spending in October and November 2022 — in the midst of FTX’s collapse — as contributing to its bankruptcy filing. Court documents show Prime Trust owed more than $85 million in fiat and $69.5 million in crypto to its clients. The collapse of the Terra ecosystem triggered a major market crash in 2022, affecting several firms including FTX, BlockFi, Celsius Network and Voyager Digital.
PEPE whale seizes dip opportunity, buys $529K worth of tokens
A Pepe holder bought 640 billion Pepe tokens for 320 Ether valued at $529,000 after the price of the frog-themed memecoin dropped by approximately 15% due to recent changes to a multisig wallet and concerns about potential developer manipulation. According to on-chain analytics platform Lookonchain, the whale purchased PEPE at an average price of $0.000001163. The value of the once-popular memecoin plunged after changes related to the amount of signatures required to sign transactions led to worries about a potential “rug pull,” which was later confirmed by one of the project’s co-founders.
Winners and Losers
At the end of the week, Bitcoin (BTC) is at $26,040, Ether (ETH) at $1,653 and XRP at $0.52. The total market cap is at $1.05 trillion, according to CoinMarketCap.
Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Bone ShibaSwap (BONE) at 18.58%, Sui (SUI) at 12.86% and Toncoin (TON) at 11.97%.
The top three altcoin losers of the week are Pepe (PEPE) at -21.07%, XDC Network (XDC) at -9.62% and ApeCoin (APE) at -8.35%.
For more info on crypto prices, make sure to read Cointelegraph’s market analysis.
Read also
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Jensen Huang, founder and CEO of NVIDIA
“Some of the people who currently think that there should not be effective law enforcement on-chain would feel differently if they got hacked, defrauded, or lost their private keys.”
Mike Kanovitz, CEO of Jurat
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John Deaton, pro-XRP lawyer
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Neal Mohan, CEO of YouTube
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Aydin Kilic, CEO of Hive Digital Technologies
Prediction of the Week
Bitcoin ‘overconfidence reigns’ but bulls must reclaim $27.8K — Trader
Bitcoin needs to reclaim one key moving average to “regain its bullish status,” argues popular pseudonymous analyst CryptoCon, warning that bulls remained too optimistic about the $26,000 BTC price support holding.
For CryptoCon, the 20-week exponential moving average (EMA), now at $27,750, must be won back as support in order for the uptrend to be safe. “I have been covering this moving average a lot recently, but I believe it is critical for Bitcoin to regain its bullish status,” he wrote.
The analysis compared current BTC price action to its rebound from 2018 cycle lows. “It is very important that Bitcoin both rises above and retests the 20 Week EMA as support,” CryptoCon noted with a chart showing the similarities between 2019 and 2023, with the retest and subsequent successful EMA reclaim circled.
FUD of the Week
Chinese official sentenced to life in prison for Bitcoin mining, corruption
A Chinese government official has been sentenced to life in prison for illegitimate business operations related to running a 2.4 billion Chinese yuan ($329 million) Bitcoin mining enterprise and for unrelated charges of corruption. Prosecutors say Xiao Yi — a former member of the Jiangxi Provincial Political Consultative Conference Party Group — “covered up” the mining operation by instructing relevant departments to fabricate statistical reports and adjust the classification of electricity consumption. From 2017 to 2020, his facility’s electricity consumption accounted for 10% of the city of Fuzhou’s total electricity consumption.
FBI flags 6 Bitcoin wallets linked to North Korea, urges vigilance in crypto firms
The United States Federal Bureau of Investigation (FBI) has flagged six Bitcoin wallets linked to North Korean state-backed hacking group Lazarus. The six wallets contain 1,580 BTC worth $40 million believed to be hoarded from various cryptocurrency hacks over the past year. The FBI in its investigation found that Lazarus Group moved approximately 1,580 BTC linked with several crypto exploits. The hacking group has been actively involved in multiple crypto-linked exploits over the years and are believed to have stolen nearly $2 billion in crypto since 2018.
OpenSea manager accused of insider trading sentenced to 3 months in prison, $50K fine
A federal judge has sentenced former OpenSea product manager Nathaniel Chastain to three months in prison for wire fraud and money laundering related to insider trading on the platform. He was accused of using insider information in his position at OpenSea to profit off the trading of NFTs. In his position as product manager, he had the authority to choose which NFTs would be featured on the OpenSea website. He purchased 45 NFTs prior to them being featured and then resold them.
Recursive inscriptions: Bitcoin ‘supercomputer’ and BTC DeFi coming soon
Some believe that Ordinals and recursive inscriptions could supercharge the Bitcoin network as a viable competitor to smart contract platforms. It’s not going to be easy, though.
AI Eye: Get better results being nice to ChatGPT, AI fake child porn debate, Amazon’s AI reviews
Being nice to ChatGPT gets better results, Wired’s weird child porn debate and the end of CATPCHAs.
NFT Collector: Giant Swan’s gothic VR dreamscapes… royalty nightmare on OpenSea
From crying in his car to putting the first 3D object onchain — the story of Giant Swan. Plus royalties race to the bottom accelerates due to OpenSea.
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Cryptocurrency
DWF Ventures Analyzes Performance of Binance Alpha and Spot Listings

[PRESS RELEASE – Dubai, UAE, June 13th, 2025]
Leading web3 investor DWF Ventures has published an analysis of Binance Alpha and Spot listings. It examines the performance of projects that have reached the exchange’s spot market following a token launch on Binance Alpha.
DWF Ventures has comprehensively analyzed the projects that have featured on Binance Alpha following the introduction of the listing mechanism in 2024. It highlights the increased transparency that Alpha brings by enabling users to appraise the merits of emerging tokens, some of which have the potential to migrate to a Binance Spot listing.
Research conducted by DWF Ventures has found that of the more than 190 projects to have been selected by Binance Alpha to date, more than 70% are currently trading at below $50M market cap, while a handful of outliers such as Ondo and Virtuals have surpassed $1B valuation.
DWF Ventures’ analysis also shows that memecoins and AI agents have dominated Binance Alpha projects with DeFi in third place. Memecoins and AI agents surpass all other onchain sectors featured in Binance Alpha combined. DWF further found that Solana was the most popular chain for featured projects, followed closely by BNB Chain and Ethereum.
Key findings from DWF Ventures’ Binance Alpha report include the fact that around 10% of Alpha projects converted to a Spot listing, with a total of 19 making the grade. DeFi and memecoins had the highest conversion rate, while the most valuable projects after Ondo and Virtuals were Maple Finance and Cookie DAO.
DWF Ventures summarizes its report by noting that projects that migrate from Alpha to Spot are typically defined by active social media engagement, high trading volume, and are category leaders in popular onchain verticals. The full DWF Ventures report can be read here.
About DWF Labs
DWF Labs is the new generation Web3 investor and market maker, one of the world’s largest high-frequency cryptocurrency trading entities, which trades spot and derivatives markets on over 60 top exchanges.
Learn more: https://www.dwf-labs.com/
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Cryptocurrency
Roam Launches on Binance Alpha and Solana’s Meteora DEX, Expands Cross-Chain Access via BSC Integration

[PRESS RELEASE – Vancouver, Canada, June 13th, 2025]
Roam, the open wireless network powered by WiFi and eSIM technologies, today announced its official listing on Binance Alpha, alongside the launch of a liquidity pool on Meteora, the leading Solana-based DEX. This dual listing marks a significant step in Roam’s cross-chain expansion, boosting $ROAM token accessibility across both BNB Chain and Solana ecosystems.
Beginning June 13 at 13:00 UTC, eligible Binance users can participate in the ROAM Alpha campaign and claim rewards through Binance’s official event portal. Simultaneously, liquidity providers on Meteora can earn platform-specific incentives via Roam’s official LP pool.
Staking and Airdrop Rewards for General Users and Roam Miners
Roam is introducing a high-yield staking program offering an average 35% APY for general users. Meanwhile, Roam Miner users can access a dedicated staking pool with 500 $ROAM staking capacity per device, a guaranteed 100% APY, and monthly airdrops of 40 $ROAM per device for six consecutive months.
This reward structure is designed to align long-term community participation with Roam’s DePIN-based infrastructure and token economy.
Binance Alpha: Early Access to Curated Web3 Projects
Binance Alpha is Binance’s discovery platform for early-stage Web3 tokens, offering users curated access to high-potential projects. ROAM was selected based on its ecosystem growth, on-chain traction, and technical innovation.
With Alpha’s streamlined “Quick Buy” feature, users can purchase ROAM without adjusting slippage or navigating gas-intensive environments. Enhanced trade routing and MEV protection ensure security and efficiency. Participants can also earn Alpha Points by trading or holding ROAM, unlocking airdrops, and other future benefits.
Meteora Listing Enhances $ROAM Liquidity on Solana
Roam’s debut on Meteora—the dynamic liquidity protocol developed by the team behind Jupiter—brings sustainable market depth to $ROAM within the Solana DeFi ecosystem. Meteora’s DLMM architecture, AMM vaults, and liquidity aggregation reduce volatility and deliver optimized capital efficiency for LPs.
The integration strengthens Roam’s Solana presence while supporting long-term DeFi adoption and trading scalability.
BSC Integration Enables Cross-Chain Token Access via Roam App
To improve user accessibility and trading flexibility, Roam has enabled native cross-chain support via Wormhole’s NTT framework, allowing users to bridge ROAM between Solana and BNB Chain directly within the Roam App. The process is intuitive, requiring no third-party tools or external wallets.
This BSC integration introduces $ROAM to new users across Binance’s CEX and DeFi ecosystems while offering reduced transaction costs. Users can deposit directly from Binance accounts and access $ROAM on platforms such as PancakeSwap. The feature complements Binance Alpha’s zero-fee trading promotion (March 17–September 17, 2025), further reducing onboarding friction.
Building Real-World Adoption Through Decentralized Connectivity
Roam is expanding its presence as a decentralized infrastructure provider focused on enabling real-world connectivity. Backed by OpenRoaming and eSIM technologies, Roam has deployed over 10 million WiFi nodes, serving more than 2.8 million global users.
With the Roam App, users can connect to nearby Roam WiFi hotspots and earn Roam Points by contributing to the network—through adding WiFi nodes, completing WiFi Check-Ins, and participating in community-driven campaigns. These points can be converted into $ROAM tokens, creating a tangible bridge between user contributions and token utility.
Roam’s token model supports real yield through network growth, and its expanding ecosystem includes targeted advertising, Web3 travel integrations, and enterprise-grade eSIM services trusted by partners like Bybit and MEXC. The soon-to-launch Premium eSIM will integrate voice, SMS, and high-speed data, with users able to purchase service directly using $ROAM—strengthening utility across both consumer and enterprise use cases.
About Roam
Roam is focused on building a decentralized global open wireless network that provides seamless, secure connectivity for individuals and smart devices, whether stationary or mobile. Through a blockchain-based credential infrastructure, Roam has supported the adoption of WiFi OpenRoaming among small and medium-sized businesses.
As highlighted in Messari’s 2024 State of DePIN report, Roam is recognized as the fourth-largest DePIN project globally, with a network of over 2.1 million nodes spanning 200 countries and a user base of 2.4 million registered app users. The network also enables access to free eSIM data through participation in activities such as building and validating WiFi nodes, demonstrating Roam’s role in advancing adoption within the DePIN sector.
Users can contact Roam via:
Twitter: https://x.com/weRoamxyz
Telegram: https://t.me/WeRoamXYZ
For more information, users can visit the Roam App or follow official exchange announcements.
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Cryptocurrency
Sharplink Becomes Largest Public ETH Holder With $462M Purchase but Shares Tumble

Sharplink Gaming has taken a major step into the crypto space by establishing an Ethereum Treasury Reserve and acquiring over $462 million worth of ETH. This move makes the company the largest public holder of ETH, second only to the Ethereum Foundation.
According to a press release, Sharplink purchased 176,270.69 ETH at an average price of $2,626, totaling approximately $462.9 million. The acquisition reflects a major shift in the firm’s strategy, placing Ethereum at the center of its digital asset reserves.
Sharplink’s ETH Funding Strategy
To fund the purchase, Sharplink raised $425 million through a private placement deal and another $79 million via an at-the-market (ATM) equity offering. The company used most of these proceeds to acquire ETH, highlighting its strong commitment to building a substantial crypto reserve.
As a result, Sharplink reported an 11.9% increase in ETH per share since June 2. It has also deployed over 95% of its ETH into staking and liquid staking protocols, contributing to Ethereum’s network security while generating passive yield.
Stock Dips Despite Ethereum Bet
Despite Sharplink’s bullish ETH announcement, its stock (SBET) experienced sharp volatility. According to Google Finance, the stock dropped 12.25% on Thursday to close at $32.50, then plunged to as low as $8 in after-hours trading.
However, by Friday, it had recovered slightly to $11.05, still down about 66% over 24 hours. Nonetheless, the stock remains up nearly 230% over the past month and 37% year-to-date.
Meanwhile, the steep drop came after Sharplink filed an S-3 registration with the U.S. Securities and Exchange Commission. The filing outlined a possible resale of 58.7 million shares issued during a previous private investment in public equity (PIPE) offering, involving more than 100 investors.
In turn, this triggered fears of dilution, prompting a wave of selling. In response, Sharplink Chairman Joseph Lubin clarified on X that the filing doesn’t reflect any current sales. He explained that it only registers shares in case past investors choose to sell later.
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