According to a letter posted by the protocol’s founder and CEO, the US agency does “not intend to recommend an enforcement action” against Aave. Stani Kulechov, founder and CEO of Aave, said the US Securities and Exchange Commission ended a four-year investigation into the decentralized finance platform. In a Tuesday X post, Kulechov provided an Aug. 12 letter from the SEC saying that the agency did “not intend to recommend an enforcement action” against Aave. The text of the letter suggested that the protocol had faced a potential enforcement action by the SEC in a probe initiated about four years ago. “We’re glad to put this behind us as we enter a new era where developers can truly build the future of finance,” said Kulechov. Read more
Gold strongly outperformed Bitcoin in 2025, resulting in a 50% decline in the BTC-to-gold ratio. Will the trend flip in BTC’s favor in 2026? The Bitcoin-to-gold ratio, which highlights the ounces of gold required to purchase one BTC, has retraced to 20 ounces per BTC, down roughly 50% from around 40 ounces in December 2024. Rather than a collapse in Bitcoin (BTC) demand, this sharp shift reflected the unique macroeconomic regime of 2025, where gold’s asset performance dominated that of the crypto asset. Key takeaways: The BTC–gold ratio fell from 40 to 20 ounces per BTC between December 2024 and Q4 2025. Read more
The Federal Deposit Insurance Corp.'s proposal outlines how banks could seek approval to issue payment stablecoins as US regulators move from legislation to rule-making. The Federal Deposit Insurance Corp. (FDIC) is moving forward with rule-making under the US GENIUS Act by proposing a framework for how regulated banks could apply to issue payment stablecoins, a key early step in implementing the law’s stablecoin provisions. In a 38-page document posted to the FDIC’s website, the agency detailed proposed approval requirements for the issuance of payment stablecoins by subsidiaries of FDIC-supervised institutions. As Bloomberg reported, the proposal is subject to a public consultation period before advancing to the next stage of the rulemaking process. Read more
BitMine is building an Ether-heavy treasury as ETF flows wobble and exchange deposits rise, betting on Fusaka and staking to drive a longer-term thesis. BitMine says it holds 3,864,951 ETH after adding 138,452 ETH in a week, describing its treasury as representing more than 3.2% of the ETH supply. The accumulation is happening alongside risk-off signals, including notable spot Ether ETF outflow days and a reported spike in net outflows to Binance. BitMine frames the strategy as both catalyst-driven (the Fusaka upgrade) and operational, pointing to staking via its planned MAVAN initiative in early 2026. Read more