Crypto Weekly Roundup: Do Kwon Faces The Music, Google Crypto U-Turn, & More
This week in crypto, Do Kwon pleaded guilty to fraud charges tied to the $40 billion Terra collapse, while the SEC postponed its Solana ETF decision until October 2025. Bitcoin and Ethereum saw major institutional moves, with Metaplanet and FG Nexus expanding holdings, even as the “7 Siblings” whale group sold $88M in ETH. Let’s find out more.
Bitcoin
Metaplanet has boosted its Bitcoin reserves to 18,113 BTC with a $61.4 million purchase, reinforcing its aggressive treasury strategy and positioning itself among the world’s largest corporate holders.
Ethereum
Ethereum whale group “7 Siblings” has sold $88.2 million worth of ETH, marking their first major liquidation since accumulating 1.21 million ETH, amid surging institutional inflows, record network activity, and prices approaching all-time highs.
FG Nexus has acquired $200 million worth of Ethereum as part of a strategy to secure a 10% network stake, leveraging staking partnerships and institutional custody to drive long-term yield and position itself among the largest corporate ETH holders.
Business
Google has clarified it will not block non-custodial cryptocurrency wallets from its Play Store, easing fears sparked by new licensing rules set to take effect in October.
Pantera Capital has confirmed an investment of over $300 million into digital asset treasury (DAT) companies, signalling confidence in their potential to outperform traditional crypto investment vehicles such as exchange-traded funds (ETFs).
Web3
In a move aimed at bringing cryptocurrencies closer to daily consumer habits, KuCoin Pay, the payment arm of global crypto exchange KuCoin, has entered into a strategic partnership with BitTopup, a digital marketplace specializing in mobile recharges, game credits, and gift cards.
Coldware (COLD) and BlockDag (BDAG) are both reshaping how we engage with blockchain technology, but from opposite ends of the spectrum.
Cryptocurrency exchange BTCC has unveiled its first sports sponsorship deal by naming Jaren Jackson Jr., Memphis Grizzlies forward and 2023 NBA Defensive Player of the Year, as its global brand ambassador.
Now in its third year, the hit game, NFL Rivals, has been officially licensed by the National Football League and has over six million downloads since launching two years ago.
In the past year, the total value locked (TVL) reached an all-time high of $13 billion on DeFi platforms, with the total market capitalization at $24 billion, a 380% growth since 2022.
Security
BtcTurk has suspended crypto withdrawals after a suspected $48 million hot wallet hack, with blockchain analysts tracing the stolen funds across multiple networks.
Regulation
The Federal Reserve has shut down its crypto-focused oversight program, which monitors crypto dealings by major banks. The central bank will revert to its regular supervisory process to monitor all crypto-related activities.
Terraform Labs co-founder Do Kwon has pleaded guilty in a New York court to conspiracy and wire fraud charges linked to the $40 billion collapse of TerraUSD and Luna.
The US SEC has delayed its decision on Solana ETF proposals from Bitwise and 21Shares to October 16, 2025, citing the need for additional review as market volatility and inflation concerns weigh on investor sentiment.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
