GTI Energy (GTR:AU) has announced Snow Lake Completes Due Diligence and Confirms Placement
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Here’s a quick recap of the crypto landscape for Friday (August 8) as of 9:00 p.m. UTC.
Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin and Ethereum price update
Bitcoin (BTC) was priced at US$116,454, down by 0.8 percent over the last 24 hours. Its lowest valuation on Friday was US$115,979, while its highest valuation was US$117,038.
Bitcoin price performance, August 8, 2025.
Chart via TradingView.
An executive order from the Trump administration about the addition of cryptocurrency investment options to federally regulated 401(k) retirement plans could trigger an influx of new capital and drive up Bitcoin’s price.
Separately, over US$1 billion in Bitcoin call options are set to activate if Bitcoin hits US$200,000 on December 26, when US$8.8 billion in options are set to expire; however, experts believe the presence of these call options reflects strategic positioning rather than a widespread belief in a year-end surge to that level. Cointelegraph analyst Marcel Pechman notes that pro traders are using far-out-of-the-money calls in structured strategies like diagonal spreads and inverse butterflies to manage risk and seek asymmetric upside, not as direct bets on extreme price targets.
Ethereum (ETH) was priced at US$4,053, up by 4.9 percent over the past 24 hours and its highest valuation of the day. Its lowest valuation on Friday was US$3,910 at the start of trading.
Altcoin price update
- Solana (SOL) was priced at US$178.05, up by 3.8 percent over 24 hours. Its lowest valuation on Friday was US$174.86, and its highest was US$179.36.
- XRP was trading for US$3.30, up by 6.6 percent in the past 24 hours. Its lowest valuation of the day was US$3.22, and its highest price was US$3.35.
- Sui (SUI) was trading at US$3.85, up 3.1 percent over the past 24 hours. Its lowest valuation of the day was US$3.73, and its highest was US$3.86.
- Cardano (ADA) was trading at US$0.7964, up by 4.2 percent over 24 hours. Its lowest valuation on Friday was US$0.7787, and its highest was US$0.8022.
Today’s crypto news to know
Trump order opens door for crypto and private equity in 401(k)s
US President Donald Trump has signed an executive order directing the Department of Labor to review its fiduciary rules for retirement plans, potentially clearing the way for assets like cryptocurrencies, private equity and real estate to be included in 401(k)s. While no laws have changed, the move signals a potential shift from the Biden era.
The Employee Retirement Income Security Act still requires fiduciaries to choose “prudent” investments, meaning employers will need to justify the inclusion of volatile or opaque assets. Legal experts say the order could influence how federal agencies interpret the rules, but it won’t override decades of court precedents on fiduciary duty.
For now, employers remain cautious due to the risk of lawsuits over imprudent or overly expensive options. Crypto in 401(k)s remains rare, though large firms like BlackRock are already exploring target-date funds with alternative assets.
SEC and Ripple dismiss appeals, ending lawsuit
Ripple and the US Securities and Exchange Commission (SEC) have dismissed their respective appeals, effectively ending a five-year lawsuit, as per a brief filing on Thursday (August 7) with the Court of Appeals for the Second Circuit.
“Following the Commission’s vote today, the SEC and Ripple formally filed directly with the Second Circuit to dismiss their appeals,” Ripple’s chief legal officer, Stuart Alderoty, wrote on X.
The SEC sued Ripple in 2020 for selling XRP as an unregistered security. A July 2023 ruling by Judge Analisa Torres found XRP was not a security when sold on public exchanges, but was when sold to institutional investors.
The SEC appealed, and Ripple cross appealed. However, this past April, both parties filed a joint motion to pause their appeals, hinting at a settlement. They settled in May, asking Torres to dissolve the injunction and lower the US$125 million fine. She denied that in June, stating that Ripple must still follow federal securities laws.
Following the announcement, open interest in XRP grew by over 15 percent in 24 hours and futures volumes rose by over 233 percent, according to Coinglass data.
Parataxis to go public via SPAC merger
Bitcoin asset manager Parataxis announced its plan to go public by merging with a special purpose acquisition company (SPAC) called SilverBox Corp. IV on Wednesday (August 6).
The deal aims to raise up to US$640 million to “support acceleration of digital asset purchases and support long-term strategy.’ It implies a total pro forma equity value of up to US$800 million for the combined company, assuming the US$10 share price and no redemptions. The new public company will be named Parataxis Holdings and will trade on the New York Stock Exchange under the ticker symbol “PRTX.”
The company’s goal is to launch a yield-enhanced Bitcoin treasury strategy in the US and South Korea. The deal also includes an equity line of credit to raise additional funds. This will allow it to continue accumulating Bitcoin.
The company has already allocated US$31 million for an initial Bitcoin purchase.
Fundamental Global files to raise funds for ETH accumulation
Fundamental Global (NASDAQ:FGF), a new Ethereum treasury vehicle, has filed to raise US$5 billion, signaling the potential emergence of a new mega whale in the Ethereum market.
According to a Friday press release, the company aims to use the majority of the proceeds from a potential US$4 billion common stock offering to acquire a 10 percent stake in the Ethereum network.
“This US$5 billion shelf filing represents a significant step in our capital raising capabilities and positions us to move with speed and scale when capital deployment opportunities arise,” said CEO and Chairman Kyle Cerminara.
“We believe this framework will enable us to capitalize on ETH accumulation opportunities and support our target of a 10 percent stake in the Ethereum Network,’ he added.
Binance partners with Spain’s BBVA to bolster asset security
Binance is teaming up with Banco Bilbao Vizcaya Argentaria (BBVA), Spain’s second largest bank, to give customers the option of storing their assets with a regulated custodian rather than directly on the exchange.
The arrangement is designed to reassure investors after Binance’s US$4.3 billion fine from US regulators in 2023 over anti-money laundering failures. With BBVA acting as an independent custodian, customer funds would remain secure even if Binance faced hacking, insolvency or further regulatory action.
The partnership leverages BBVA’s strong reputation for compliance and innovation, aiming to encourage more cautious investors to engage with crypto. The move also follows leadership changes at Binance, including founder Changpeng Zhao’s resignation and brief prison sentence, as the company works to repair its image.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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This week saw tech stocks push the Nasdaq Composite (INDEXNASDAQ:.IXIC) to its best week since June.
However, on Monday (August 4), multiple news outlets reported that various Wall Street firms were warning of a near-term drop in the S&P 500 (INDEXSP:.INX) after its strong rally. In a note to clients, Mike Wilson of Morgan Stanley (NYSE:MS) forecasts that tariffs, which went into effect this week, will lead to a 10 percent correction.
“Over the last couple of weeks, we have noted that investors should expect a modest pullback in the third quarter,” Wilson wrote. Julian Emanuel of Evercore (NYSE:EVR) anticipates a 15 percent drop. Additionally, Parag Thatte’s team at Deutsche Bank (NYSE:DB) points to an overdue drawdown following three months of equity expansion.
Markets appear to have disregarded the warnings, as economic data released this week has revived expectations for interest rate cuts. Stephen Miran, US President Donald Trump’s interim selection for Adriana Kugler’s position as chair of the Council of Economic Advisers, has further fueled these expectations. According to CME Group’s (NASDAQ:CME) Fedwatch tool, traders now anticipate a nearly 90 percent probability of a rate cut next month.
Furthermore, exemptions to the Trump administration’s tariffs for companies investing in US manufacturing capacity led to a midweek rally in tech stocks that persisted through to Friday (August 8).
1. OpenAI’s busy week
On Wednesday (August 6), OpenAI unveiled the long-awaited GPT-5 version of ChatGPT, which CEO Sam Altman described as a “significant step” along the path to artificial general intelligence (AGI).
Altman declared that GPT-5 gives users PhD-level expert assistance on any subject, with fewer hallucinations, as well as superior coding abilities that could lead to an era of “software on demand.’
“Something like GPT-5 would be pretty much unimaginable in any other time in history,” he said during a pre-briefing with journalists on Wednesday. While GPT-5 exhibits signs of broad intelligence, Altman clarified that it lacks a key characteristic of AGI: the ability to learn and improve autonomously.
Concurrently, OpenAI for Government announced it is partnering with the US General Services Administration to offer ChatGPT Enterprise to the federal executive branch workforce for US$1 per agency for the next year.
In a statement to Wired, Altman said the agreement was part of Trump’s Artificial Intelligence (AI) Action Plan, which is geared at leveraging AI to better serve the American people.
Additionally, the company reportedly engaged in early discussions this week for a secondary stock sale that would increase its valuation to US$500 billion. During an interview with Schwab Network, Ben Emons, chief investment officer and founder of FedWatch Advisors, said OpenAI’s valuation could hit US$1 trillion.
A recent report by the Information found that OpenAI has hit an annualized run rate of US$12 billion, roughly double the US$6 billion recorded in revenue in the first half of 2025.
OpenAI also introduced a pair of freely available models this week, which Amazon (NASDAQ:AMZN) will offer to cloud-computing clients.
2. Stocks react to chip tariff exemptions
Trump announced plans to impose a nearly 100 percent tariff on semiconductor chips on Wednesday, but carved out an exemption for companies investing in US manufacturing capacity.
After a meeting at the White House, Apple (NASDAQ:AAPL) CEO Tim Cook pledged an additional US$100 billion investment in US manufacturing capacity, bringing its total commitment to US$600 billion over the next four years.
However, final assembly is expected to remain overseas “for a while,” according to Cook, and the announcement did not include any mention of future iPhone assembly in the US.
Apple performance, August 5 to 8, 2025.
Chart via Google Finance.
The pledge led to a significant market reaction, with Apple shares climbing over 4 percent, leading gains on Wall Street.
Taiwan Semiconductor Manufacturing Company (NYSE:TSM) also saw strong gains after it was reported that National Development Council Chief Liu Chin-ching told parliament that the company will be exempt since it has factories in the US, referring to fabrication plants currently under construction in Arizona.
However, he added that some of Taiwan’s chipmakers will be affected.
Likewise, South Korean trade officials stated that Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) will both avoid the tariffs due to their investments in US manufacturing facilities. Samsung has two chip fabrication plants in Texas, while SK Hynix is building a new advanced chip packaging and R&D facility in Indiana.
3. Firefly Aerospace makes explosive Nasdaq debut
Firefly Aerospace (NASDAQ:FLY) made a strong debut on the Nasdaq Global Market on Thursday (August 7).
The stock opened at US$70 per share, a significant jump from its initial public offering price of US$45.
After first targeting between US$35 and US$39 per share, the company raised the price from US$41 to US$43 on Tuesday (August 5). Firefly was valued at over US$2 billion after a Series D funding round in November 2024.
Its opening price represented a further increase. After briefly topping US$73.80, the company closed its first day on the market at US$60.35, raising US$868.3 million and achieving a valuation of approximately US$8.5 billion.
The company experienced a moderate pullback on Friday, opening at US$54.85 before briefly touching US$57.07; it then closed the week at US$50.17.
4. Tesla desbands Dojo team
Tesla (NASDAQ:TSLA) CEO Elon Musk confirmed reports that the company is disbanding its Dojo supercomputer team, posting to X on Thursday evening:
“It doesn’t make sense for Tesla to divide its resources and scale two quite different AI chip designs.
“The Tesla AI5, AI6 and subsequent chips will be excellent for inference and at least pretty good for training. All effort is focused on that.”
Tesla intended for Dojo to facilitate the training of its Autopilot and Full Self-Driving systems.
Sources for Bloomberg, which first reported the story, said Tesla will rely on partners like NVIDIA (NASDAQ:NVDA), Advanced Micro Devices (NASDAQ:AMD) and Samsung for chip manufacturing.
This move contradicts Musk’s commitments to “double down on Dojo” during his company’s second quarter earnings call on July 23. The development follows a letter sent to shareholders by two Tesla directors on Monday explaining the board’s decision to grant Musk a US$23.7 billion stock award.
Robyn Denholm, chair of Tesla’s board of directors, and Kathleen Wilson-Thompson, a director, said the decision was driven by Tesla’s transition from electric vehicles to AI and robotics.
The letter emphasizes the critical need to motivate Musk, stating that his involvement is essential for attracting and retaining talent at Tesla, especially as competition for AI talent intensifies.
5. Palantir reports solid growth in Q2
Major software company Palantir Technologies (NASDAQ:PLTR) reported its Q2 earnings on Monday, revealing revenue growth of 48 percent to US$1.003 billion. Shares of the company opened over 7 percent higher on Tuesday and continued to rise, finishing the week up nearly 18 percent.
Palantir Technologies performance, August 5 to 8, 2025.
Chart via Google Finance.
“This was a phenomenal quarter. We continue to see the astonishing impact of AI leverage,’ said Alex C. Karp, co-founder and CEO of Palantir, in a press release. “We are guiding to the highest sequential quarterly revenue growth in our company’s history, representing 50 percent year-over-year growth.”
Free cashflow rose by 282 percent to US$568.7 million. The company is projecting further revenue growth of around 49 percent in the third quarter. Its share price is up over 145 percent year-to-date after starting the year at US$76.20. As of Friday’s closing bell, shares of Palantir were trading for US$186.96.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) (‘Cardiol’ or the ‘Company’), a clinical-stage life sciences company focused on developing anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease, is pleased to announce that it will participate in a Fireside Chat at Canaccord Genuity’s 45th Annual Growth Conference in Boston, MA, on August 12, 2025, at 9:30 a.m. EDT.
A live webcast of the Fireside Chat will be accessible under ‘Events & Presentations’ in the Investors section of the Cardiol website (www.cardiolrx.com/investors/events-presentations/). The replay will be available for 90 days following the conference.
About Cardiol Therapeutics
Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) is a clinical-stage life sciences company focused on developing anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease. The Company’s lead small molecule drug candidate, CardiolRx (cannabidiol) oral solution, is pharmaceutically manufactured and in clinical development for use in the treatment of heart disease. It is recognized that cannabidiol inhibits activation of the inflammasome pathway, an intracellular process known to play an important role in the development and progression of inflammation and fibrosis associated with pericarditis, myocarditis, and heart failure.
Cardiol has received Investigational New Drug Application authorization from the United States Food and Drug Administration (‘US FDA’) to conduct clinical studies to evaluate the efficacy and safety of CardiolRx in two diseases affecting the heart: recurrent pericarditis and acute myocarditis. The MAVERIC Program in recurrent pericarditis, an inflammatory disease of the pericardium which is associated with symptoms including debilitating chest pain, shortness of breath, and fatigue, and results in physical limitations, reduced quality of life, emergency department visits, and hospitalizations, comprises the completed Phase II MAvERIC-Pilot study (NCT05494788) and the ongoing Phase III MAVERIC trial (NCT06708299). The completed ARCHER trial (NCT05180240) is a Phase II study in acute myocarditis, an important cause of acute and fulminant heart failure in young adults and a leading cause of sudden cardiac death in people less than 35 years of age. The US FDA has granted Orphan Drug Designation to CardiolRx for the treatment of pericarditis, which includes recurrent pericarditis.
Cardiol is also developing CRD-38, a novel subcutaneously administered drug formulation intended for use in heart failure—a leading cause of death and hospitalization in the developed world, with associated healthcare costs in the United States exceeding $30 billion annually.
For more information about Cardiol Therapeutics, please visit cardiolrx.com.
Cautionary statement regarding forward-looking information:
This news release contains ‘forward-looking information’ within the meaning of applicable securities laws. All statements, other than statements of historical fact, that address activities, events, or developments that Cardiol believes, expects, or anticipates will, may, could, or might occur in the future are ‘forward-looking information’. Forward-looking information contained herein may include, but is not limited to statements regarding the Company’s focus on developing anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease, the Company’s intended clinical studies and trial activities and timelines associated with such activities, including the Company’s plan to complete the Phase III study in recurrent pericarditis with CardiolRx, and the Company’s plan to advance the development of CRD-38, a novel subcutaneous formulation of cannabidiol intended for use in heart failure. Forward-looking information contained herein reflects the current expectations or beliefs of Cardiol based on information currently available to it and is based on certain assumptions and is also subject to a variety of known and unknown risks and uncertainties and other factors that could cause the actual events or results to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, and are not (and should not be considered to be) guarantees of future performance. These risks and uncertainties and other factors include the risks and uncertainties referred to in the Company’s Annual Information Form filed with the Canadian securities administrators and U.S. Securities and Exchange Commission on March 31, 2025, available on SEDAR+ at sedarplus.ca and EDGAR at sec.gov, as well as the risks and uncertainties associated with product commercialization and clinical studies. These assumptions, risks, uncertainties, and other factors should be considered carefully, and investors should not place undue reliance on the forward-looking information, and such information may not be appropriate for other purposes. Any forward-looking information speaks only as of the date of this press release and, except as may be required by applicable securities laws, Cardiol disclaims any intent or obligation to update or revise such forward-looking information, whether as a result of new information, future events, or results, or otherwise. Investors are cautioned not to rely on these forward-looking statements.
For further information, please contact:
Trevor Burns, Investor Relations +1-289-910-0855
trevor.burns@cardiolrx.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261960
News Provided by Newsfile via QuoteMedia
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Futures-based SOL and XRP ETFs have crossed the $1 billion mark in total inflows just months after launching. This surge in investor interest is fueling fresh debate over the potential arrival of spot ETFs. Strong Debut for SOL and XRP Futures ETFs New data show that futures-based SOL and XRP exchange-traded funds (ETFs) have collectively
The post Futures-Based SOL and XRP ETFs Surpass $1B Inflows as Spot ETF Approval Hopes Grow In October appeared first on CoinGape.
An Ethereum developer, “Fede’s Intern,” has been detained in Turkey over allegations of enabling the “misuse” of the Ethereum blockchain. The claims highlight the growing legal risks faced by blockchain infrastructure builders. Ethereum Developer Disputes Turkey’s Allegations Ethereum developer Fede’s Intern shared on X that he had been detained in Turkey for charges surrounding network
The post Ethereum Developer Arrested in Turkey Over Alleged Network Misuse appeared first on CoinGape.
ALT5 Sigma announces a $1.5 billion funding initiative to power World Liberty Financial’s (WLFI) ambitious digital asset reserves strategy. The move positions the Nasdaq-listed firm alongside other firms expanding their crypto holdings. ALT5 Sigma’s to Back WLFI $1.5 Billion Treasury Fund In a recent press release, ALT5 Sigma confirmed it has entered into definitive agreements
The post Just In: ALT5 Sigma Launches $1.5B Offering to Power Trump’s WLFI Treasury Push appeared first on CoinGape.
Michael Saylor’s Strategy, previously MicroStrategy, has again bought more BTC for its Bitcoin treasury. This development comes as the Bitcoin price eyes new all-time highs (ATHs). Meanwhile, the MSTR stock has rebounded from its closing price of $395 last week. Strategy Acquires 155 BTC for $18 Million In a press release, the company announced that
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XRP price has created a golden cross, hinting that more gains are likely. However, setbacks are still present after BlackRock said it has no interest in filing for a spot XRP ETF, at least for now. Meanwhile, analysts remain optimistic that the price will reach $6. XRP Price Flashes Golden Cross as Analyst Eyes Rally
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