BitGo Enters South Korea as First Global Firm to Secure New VASP Status
BitGo has secured VASP registration acceptance in South Korea just as the country is raising the bar for crypto firms. The approval gives BitGo Korea a local path to serve institutions, while its direct entry could also show how global crypto companies are preparing for stricter rules in one of Asia’s biggest digital asset markets. South Korea Approves BitGo Korea as VASP South Korea’s Financial Intelligence Unit has accepted BitGo Korea’s VASP registration, allowing the company to provide crypto custody and transfer services to institutional and enterprise clients. What makes the move different is how BitGo entered the market. While competitors like Binance and OKX entered South Korea by purchasing stakes in existing local exchanges (Gopax and Coinone). Instead of buying an existing Korean VASP, the company created BitGo Korea and built its local compliance and security systems from the start. 🇰🇷 한국, 안녕하세요! BitGo Korea has received acceptance of its VASP registration from the Korea Financial Intelligence Unit. We are excited to be the first newly established Korean entity of a global digital asset company to achieve this milestone, establishing a local,… pic.twitter.com/y5gQuIWzM9 — BitGo (@BitGo) August 20, 2026 This makes it the first newly established local subsidiary of a global digital asset firm to secure a VASP license directly from regulatory authorities rather than acquiring an existing licensed business Hana and SK Telecom Add Local Support BitGo Korea is also backed by two major Korean companies, Hana Financial Group and SK Telecom. Their involvement gives BitGo more than a local office. It connects the company’s global crypto infrastructure with Korean financial and technology networks. BitGo plans to focus on banks, asset managers, companies, public-sector groups and other institutional clients rather than mainly targeting retail traders. Approval Comes as Korea Tightens Crypto Rules The timing of the approval is also important. From August 20, South Korea is introducing stronger VASP registration and anti-money laundering rules. The new rules will bring closer checks on major shareholders, financial health, management, staff and internal controls. With the new registration, BitGo Korea can now officially offer crypto custody and transfer services to corporate clients, asset managers and financial institutions. BitGo CEO Mike Belshe welcomed the approval from KoFIU, saying the company is “Excited and proud to announce BitGo Korea! 2 yrs in the making – bringing regulated, cold storage to market.” BitGo already operates regulated businesses in major markets, including the U.S., Singapore, Germany and Dubai. The Korean approval now adds another key market to its global network.
The crypto market is rising today with Bitcoin moving sharply higher and Ethereum gaining around 20% in a day. Solana is also performing well. However, many other altcoins have gained only around 5%-7% and some remain near their lows. U.S. spot Bitcoin ETFs have recorded buying for three straight day. More than 8,000 BTC were reportedly purchased through the ETFs in the latest session, with BlackRock alone buying more than 4,000 BTC. This buying helped push Bitcoin from around $64,000 toward $70,000. The rally was initially driven by a sharp wave of short liquidations, while new U.S. Treasury measures and fresh political support for the crypto industry added to bullish sentiment. Top Reasons Why Crypto Market is Surging Today Bitcoin Rally Triggers $1.2 Billion in Short Liquidations Bitcoin rose more than 8% after about $1.2 billion worth of short positions were liquidated within an hour. Short sellers betting on lower prices were forced to close their positions as Bitcoin moved higher, adding further buying pressure. The move helped push Bitcoin to its highest level since June 2 and eventually above $70,000. The market is now watching trading volume closely. Higher volume has accompanied the rally, although selling pressure remains visible around current levels. U.S. Treasury Boosts Bond Buybacks Another major factor behind the move is the U.S. Treasury’s decision to increase its planned purchases of long-term government debt. The Treasury plans to raise monthly buybacks from $2 billion to at least $4 billion. The purchases are designed to improve liquidity in U.S. government bonds with maturities of 10 to 30 years, as total U.S. debt approaches $40 trillion. The program begins September 9 and runs through November 4. While it is not the same as the Federal Reserve launching a large-scale money-printing program, the move is expected to provide support to the bond market and ease pressure on long-term yields. That matters for crypto because easier financial conditions can encourage investors to move into riskier assets such as Bitcoin and other cryptocurrencies. Trump Signals Continued Support for Crypto The rally also comes as President Donald Trump met with major crypto executives at a White House summit. Trump was asked whether his administration plans to build sizable Bitcoin or other crypto holdings. He said the idea has been discussed and that he would consider recommendations from his advisers. However, the comments do not represent a confirmed plan for the U.S. government to buy large amounts of Bitcoin. Trump and Coinbase CEO Brian Armstrong also called for Congress to pass the Clarity Act. Armstrong said a key vote is expected on September 15 and argued that the legislation would make recent crypto policy changes more permanent. Hyperliquid and Injective Add to Altcoin Strength Several altcoins are also gaining on their own developments. Hyperliquid’s HYPE token jumped about 11% after Trump said the administration is working to bring Hyperliquid into the U.S. in a legal and compliant way. Injective also received SEC registration for its transfer-agent services through an affiliated entity. The registration allows the entity to maintain securities ownership records and supports Injective’s wider push into tokenized assets. Tokenization was another major theme at the summit. Chainlink co-founder Sergey Nazarov said stablecoin use and the tokenization of U.S. assets are expanding, while Robinhood CEO Vlad Tenev said tokenized stocks could become a major part of the future financial system. Robinhood’s blockchain already offers tokenized exposure to U.S. stocks, with the number of available stock tokens increasing from 90 to 190. These assets can trade around the clock and are available to users in more than 120 countries. What Comes Next for Crypto Prices? Bitcoin’s move above $70,000 is a positive development, but it does not guarantee that the market has entered a sustained bull run. The key levels are now $73,000-$75,000, followed by $80,000-$82,000. Ethereum needs to clear $2,400-$2,500 to strengthen its recovery. Traders will also watch Bitcoin ETF flows, spot-market volume, miner selling, inflation data and the Federal Reserve’s September decision. After a sharp move, a 2%-5% correction would not be unusual, while larger gains in Bitcoin and Ethereum could also attract profit-taking.
HYPE Surges 20% After Trump Backs Hyperliquid US Push
President Donald Trump in his recent White House Meeting with crypto Industry leaders put Hyperliquid in the spotlight after saying CFTC Chair Michael Selig is working to bring the platform to the U.S. legally and with full compliance. Hyperliquid currently blocks U.S. users. After the news, HYPE jumped from around $62 to $72 before settling near $69–$70, up about 20% in 24 hours. Hyperliquid-linked ETFs also rose sharply with $1.97M Net Inflow. Trump Opens the HYPE Door Trump’s comments were made at the White House on August 19, where crypto industry leaders including Coinbase, Ripple, a16z, Chainlink, and many more were present. Importantly, Trump did not announce regulatory approval for Hyperliquid. Instead, he indicated that Selig is working on a possible compliant route for the platform to operate in the U.S. Hyperliquid. pic.twitter.com/09VxBeRIlO — Hyperliquid Policy Center (@HyperliquidPC) August 19, 2026 Hyperliquid is a major blockchain-based derivatives exchange, allowing users to trade leveraged contracts that do not expire. Unlike traditional exchanges, its trading activity runs on-chain, making orders, trades and liquidations visible on the blockchain. The platform has become one of the largest venues for crypto perpetual trading, reportedly handling 60–80% of the market, but U.S. users are currently classified as restricted and blocked from accessing the platform. Changpeng Zhao praised Trump’s push to bring Hyperliquid into the U.S. could be a major win for crypto, opening the door for more decentralized platforms while improving liquidity and prices for U.S. users. Many people miss the bigger picture. Policy cannot be applied to only one company/project. What's good for one is good for the rest of the industry. https://t.co/9jWYCwciIR — CZ 🔶 BNB (@cz_binance) August 20, 2026 What Could a U.S. Entry Look Like? The proposal would not necessarily mean simply removing the U.S. block. One possible model would involve licensed U.S. brokers providing the regulated entry point, while handling customer checks, paperwork and compliance requirements. Hyperliquid itself could continue operating as the underlying trading venue without directly holding customer funds. In other words, the idea is potentially a regulated U.S. front door rather than an immediate change to the entire platform. That is also why some crypto users are concerned. A legal U.S. pathway could bring KYC and greater regulatory controls, potentially reducing some of the privacy that attracts users to the platform. Hyperliquid has not received final approval yet and still faces regulatory and implementation hurdles. Why HYPE Reacted So Strongly The key for HYPE is the potential impact of more U.S. trading. Hyperliquid reportedly generated about $41.7 million in fees over 30 days, with around 97–99% of those fees used to buy HYPE. The token has a maximum supply of 1 billion, with about 955.3 million remaining, while its market value was reported at roughly $14.68 billion. Hence more trading could mean more fees, more HYPE purchases, and fewer tokens available in the market. A U.S. market would therefore represent a major potential source of additional trading activity. While HYPE is enjoying the price hike behind the scenes, a 9.92 million HYPE token unlock on September 6 could also create selling pressure.
After a prolonged consolidation, the crypto market witnessed a sharp upswing that pushed the Bitcoin price to $70,000 for the first time since the June sell-off. Billions of liquidity entered the market, while short liquidations that were recorded doubled. Besides, the Ethereum price outperformed all the other altcoins and recorded more than a 20% jump following a breakout from a bullish pattern. What Drove Bitcoin & Ethereum Higher? The latest move in Bitcoin and Ethereum was not driven by a single catalyst. A combination of improving U.S. regulatory expectations and aggressive positioning in the derivatives market helped accelerate the rally. Trump’s White House Crypto Meeting President Donald Trump met with senior crypto and prediction-market executives at the White House on August 19, alongside regulatory officials. During the event, Trump urged Congress to advance a “fair version” of the CLARITY Act, reinforcing expectations that clearer U.S. crypto regulation remains a policy priority. Bitcoin gained more than 5% during Wednesday’s session, while Ethereum recorded an even stronger move. Fresh SEC Crypto-Friendly Rules Regulatory optimism had already strengthened after the SEC moved toward a more tailored framework for digital assets. The regulator has been working on rules that could ease how certain crypto tokens are offered and clarify how existing securities laws apply to the sector. SEC Chair Paul Atkins has described establishing clear digital-asset rules as a major priority, giving traders another reason to price in a friendlier U.S. regulatory environment. CLARITY Act Momentum The Digital Asset Market: The CLARITY Act remains an important catalyst because it seeks to establish clearer boundaries between SEC and CFTC oversight and define the regulatory treatment of digital assets. The legislation has faced delays in the Senate, but Senate Banking Committee Chairman Tim Scott has continued pushing for action, while Trump’s latest public support brought the bill back into focus. The next legislative developments could therefore remain a major volatility trigger for BTC and ETH. Shorts Getting Squeezed The initial price breakout quickly turned into a derivatives-driven acceleration. Bearish crypto positions worth roughly $2.74 billion were liquidated within 24 hours, according to CoinDesk, while more than $1 billion in shorts were reportedly wiped out within a single hour during the sharpest part of the move. Forced buying from short liquidations added fuel to the rally, helping Bitcoin push toward $70,000 while Ethereum surged above $2,100. Is it the Breakout or a Bull Trap-What Awaits for the Crypto Markets The latest Bitcoin and Ethereum surge has given the crypto market the breakout traders have been waiting for. Bitcoin’s latest surge has pushed the price back above the 68,000–69,000 zone, while Ethereum reclaimed $2,000 and moved above $2,100. The key test now is whether buyers can hold the breakout levels after the short squeeze fades. More than $1 billion in Bitcoin shorts were liquidated within roughly an hour, meaning a significant portion of the immediate upside came from forced buying rather than fresh spot demand. For traders, the setup is therefore bullish but not yet risk-free. A sustained hold above the breakout zone, followed by higher highs and continued volume, would strengthen the case for a broader trend reversal. Conversely, a quick rejection and move back below the breakout levels could turn Wednesday’s sharp rally into a bull trap, particularly if momentum indicators begin to weaken. The next few sessions should therefore be less about chasing the spike and more about confirming whether BTC and ETH can hold the levels they have just reclaimed.
Bitcoin jumped more than 8% in 24 hours, climbing above $69,000 for the first time since June. Anthony Scaramucci in a recent CNBC interview said, the upcoming halving cycle and tighter supply as key factors that could push BTC back above $100,000. Why Bitcoin Has Stayed Stuck Scaramucci pointed to three factors behind Bitcoin’s muted price action. First, some Bitcoin miners have shifted computing power toward AI-related activities, affecting the network’s hash rate and reducing volatility. Second, capital has moved away from crypto and into the booming AI sector. This has reduced liquidity flowing into Bitcoin and other digital assets. The third factor is the traditional four-year Bitcoin cycle. Scaramucci noted that the market is now more than two years into the cycle, with roughly 18–19 months remaining until the next halving. John Darsie, CEO of SALT says Bitcoin’s holder base is maturing, with early investors selling while institutions, advisers, family offices, and sovereign funds increase their BTC holdings. This shift could reduce volatility and strengthen Bitcoin as a store of value. “We’re Still Bulls on Bitcoin” Despite the prolonged sideways movement, Scaramucci remains firmly bullish. He expects the next halving to reduce the new supply of Bitcoin entering the market, potentially creating a supply squeeze. His view is that as the halving approaches and fewer new coins are produced, demand could begin having a greater impact on price. “You’ll see the thing move back up over $100,000,” Scaramucci said. Bitcoin Price Outlook Crypto analyst Ted’s view is that $74,000 is the key level for Bitcoin right now. If BTC can reclaim and hold above $74K on the weekly timeframe, he believes the chances of Bitcoin falling below $55,000 become very low. In short, $74K is the key bullish confirmation level, while losing that level would keep the risk of a deeper correction alive. On the other side, Citibank reported a $189,000 Bitcoin target for 2026, adding to the bullish institutional narrative. Gemini co-founder Cameron Winklevoss described the AI-driven capital shift as giving investors a Bitcoin “time machine,” arguing that BTC around $65,000 offers an opportunity to buy at prices last seen before its move toward $126,080. However, the outlook remains divided. While Scaramucci expects the next supply tightening to support a move above $100K, some analysts still see $47,000 as a possible bear-market bottom.
Solana’s 2026 Upgrades Could Give SOL an Edge Over Ethereum, Avalanche and Sui
Solana (SOL) is entering a major infrastructure phase as Agave 4.2 begins activating three upgrades: 90% lower storage costs, 3.3x larger transactions and a staged reduction in slot times from 400ms toward 200ms. The changes could boost Solana’s position against other high-performance blockchains while creating new demand for the SOL ecosystem. Faster Slots: 400ms to 200ms Anza CEO Brennan Watt says Solana is preparing to cut slot times from ~400ms to 350ms, as the first step toward a longer-term goal of 200ms. Faster slots mean lower latency and quicker transaction processing. LATEST: Solana is preparing to cut mainnet slot times from ~400ms to 350ms. ⚡ Anza CEO Brennan Watt says the change is the first step in a broader roadmap targeting 200ms slots, with later stages planned at 300ms and 250ms. Faster slots = lower latency and quicker transaction… pic.twitter.com/yjeLuYuRgd — CryptosRus (@CryptosR_Us) August 19, 2026 If successful, this could boost Solana’s advantage over competing networks such as Ethereum, Avalanche and Sui, particularly for applications where speed is critical. The reductions are staged, however, and further cuts depend on network stability and block-skip rates. SOL vs Ethereum, Avalanche and Sui: Speed and Cost Become the Main Battle Solana is competing with Ethereum(ETH) by focusing on faster and cheaper transactions directly on its main network, while ETH relies more on Layer-2 networks to handle activity. A new 4,096-byte transaction limit could make complex tasks like ZK proofs and large multisig transactions easier, while the planned move toward 200ms slots could further improve Solana for trading, payments and other apps that need speed. Solana does not automatically replace Ethereum, which still has a much larger ecosystem and liquidity, but these upgrades strengthen its position against Ethereum, Avalanche and Sui. SIMD-0437 also cuts storage costs by 90%, from about $0.16 to $0.016 for a standard SPL token account, making it cheaper to build large applications such as games, DeFi and tokenization projects. The downside is that cheaper storage could increase the amount of data on the network and put more pressure on validators. What Could Happen to SOL? Michaël van de Poppe sees SOL close to a breakout and suggested $81 as a possible next zone, with $88-$89 as a stronger target if the highs break. Altcoin Sherpa also sees a potential reduction in SOL emissions as another catalyst. The picture on $SOL looks phenomenal. I honestly expect to see some consolidation on #Bitcoin (and if it goes higher, great, more liquidity ready to flow towards #Altcoins). Solana is on edge of a breakout here. If it breaks the highs, the next target zone it could stop is… pic.twitter.com/7bFSojIFY1 — Michaël van de Poppe (@CryptoMichNL) August 18, 2026 Another analyst puts a more aggressive scenario, $60-$40 as an accumulation zone and targets $300, $500 and eventually $1,000, though these are personal projections rather than confirmed forecasts. Do You Think We'll See $SOL Under $60 Again in The Next 4-5 Years? 🤔 My Best Accumulation Zone: $60 – $40 Targets: $300 | $500 | $1000 Patience pays. Accumulate when others panic. Not Financial Advice. ALWAYS DYOR.@solana #SOLANA pic.twitter.com/46yAWwGXPy — Crypto Patel (@CryptoPatel) August 18, 2026 These price scenarios come as Solana’s upgrades could make the SOL thesis increasingly dependent on real network activity, not just speculation. Meanwhile, Solana ETFs recorded $10.26M of inflows last week, marking seven straight weeks of net inflows. The next major catalyst is Alpenglow, whose mainnet activation is planned for Agave 4.3 and targets roughly 150ms finality.
Pi Networkは、同社によれば、自社のデバイスネットワークをまたいだ分散コンピューティングの最初の実用的なテストを完了したとのことです。これは、長年掲げてきた目標を、理論から初期段階の実行へと前進させる開発です。 このテストは5人のボランティアのノードオペレーターを通じて実施され、各デバイスがネットワーク経由で自動的に送信された計算ジョブを処理し、その後、手作業なしで結果を報告しました。同社は、ジョブの割り当てから完了、そして報告まで、プロセスは端から端まで機能したと述べています。 このマイルストーンは、ノードソフトウェアのバージョン0.6.2のリリースとともに達成されたもので、ノードおよび関連アプリケーションを利用するユーザーのセットアップを簡素化します。これまで、ノードオペレーターは接続を可能にするためにルーターポートを手動で設定する必要がありましたが、同社は、この作業が非技術系ユーザーにとって技術的な障壁になると述べていました。新バージョンは、このプロセスを自動化します。