RedotPay, the largest crypto card provider, has pushed back its planned US IPO from this year to 2027 or later, per Bloomberg, as it works through regulatory approvals and a costly legal fight.

The delay follows a Hong Kong suit from Binance-linked entities against RedotPay's founders seeking about $473 million. They allege the founders broke a partnership agreement and improperly diverted more than 470,000 Binance Card users onto RedotPay's own card, a cohort Binance argues helped inflate RedotPay's valuation.

The listing, worked by JPMorgan, Goldman Sachs and Jefferies, had targeted a valuation above $4 billion and a raise of over $1 billion. RedotPay says it will vigorously defend all claims.

RWA blockchain Plume has signed an MOU with Shinhan Asset Management, one of Korea's leading managers with about 133.6 trillion won under management, to develop a KRW-denominated tokenized fund.

The proof of concept will put a fund backed by ultra-short-term Won bonds onchain, testing how won-denominated products can move onto blockchain rails. The pilot is set to run in an offshore jurisdiction outside South Korea, working around local restrictions while the two prove out the model.

It is another step in Korea's fast-moving push to tokenize won assets, and follows Plume's earlier work on a KRW1 stablecoin with BDACS as it builds out won-denominated onchain infrastructure.

AI data company Databricks has closed a $5 billion funding round at a $190 billion valuation, a sharp jump from around $134 billion just six months earlier.

The round was led by Coatue, with Blackstone, MGX and T. Rowe Price joining alongside existing backers like Andreessen Horowitz, Thrive Capital and Temasek. Databricks' annualized revenue run-rate has passed $7 billion, growing more than 80% year over year, as CEO Ali Ghodsi leans hard into the AI boom.

The step-up cements Databricks among the most valuable private companies in the world and shows investor appetite for AI infrastructure leaders is still running hot despite bubble worries.

SharpLink, one of the world's largest corporate holders of ETH, is putting $200 million of it to work through Lido, the biggest liquid-staking protocol on Ethereum.

The allocation is roughly 106,000 ETH, about 12% of SharpLink's 888,938 ETH as of Aug 3. It comes back as wstETH held in custody with Anchorage Digital, and adds Lido to the company's existing staking and restaking strategy as it pushes to make its treasury maximally productive for shareholders.

Lido already accounts for the majority of liquid-staked ETH, with roughly $16.5B staked through it, so a treasury this size leaning in further concentrates staked ETH in the market's dominant protocol.

FG Nexus, the Nasdaq-listed merchant bank formerly known as Fundamental Global, has wound down its Ethereum treasury less than a year after launching it, selling every token and holding no crypto by June 30.

An Aug 12 SEC filing shows its discontinued digital-asset operation lost $45.2 million in the first half, against just $144,000 of staking revenue. That figure is the total loss from the wound-down unit, including ETH markdowns and impairments, not a clean realized sale loss. The firm held more than 50,000 ETH at its peak and pulled in roughly $61 million of cash from the sales.

The board now plans to reallocate that capital into cash-flowing real estate, targeting manufactured-housing parks and a possible tie-up with FG Communities, though that deal is still preliminary.

Lighter has switched on its points program for Robinhood Wallet users, who now earn rewards in real time as they trade perpetuals, with an extra boost for referring friends.

The two went live together on July 1, letting Robinhood Wallet users post Robinhood Chain collateral such as USDG as margin for Lighter's perps without leaving the app. Trades earn 2x points through the wallet versus 1x on Lighter's own web app, and Lighter has earmarked $11M in LIT tokens for the Robinhood community.

It is a direct pipe from Robinhood's roughly 24 million funded accounts into onchain perps, though the product stays off-limits in the US, UK, Canada and other restricted regions.

Tether says KPMG U.S. has completed a full independent audit of its 2025 financial statements and issued an unqualified opinion, the most positive verdict an auditor can give.

The Big Four audit went through Tether's entire balance sheet, income statement and cash flows, with KPMG physically counting and inspecting every individual gold bar in the reserves rather than trusting custodian reports. Tether's audited statements show reserves exceeding liabilities by $6.814 billion. CEO Paolo Ardoino called it "a defining moment for the stablecoin industry."

It is the first full financial audit in Tether's history, going beyond the quarterly attestations it has published for years, and lands as regulators lean harder on stablecoin issuers that now move money for hundreds of millions of people.

CXMT has overtaken Tencent Holdings to become the world’s most valuable Chinese company, highlighting the growing investor appetite for AI-related hardware and semiconductors.

The Chinese memory-chip maker is now valued at $524B, surpassing Tencent’s $510B market cap.

CXMT’s shares surged 467% on debut and have gained another 8%, as investors view the company as a key proxy for China’s AI ambitions and semiconductor self-sufficiency.

CXMT is also the world’s fourth-largest producer of DRAM, a critical component for smartphones and advanced AI servers.

Meanwhile, Tencent’s shares are down more than 26% this year amid concerns over its growing AI investments and pressure to catch up with competitors.

Trezor has confirmed that one of its logistics partners, ShipMonk, suffered a data breach exposing customer order information.

The incident affected 13,689 customers, including:

- 11,742 with full exposure: names, emails, phone numbers and shipping addresses

- 1,947 with partial exposure: names, cities and emails

Customers in the US, UK, Sweden, Colombia, Brazil, Italy and Portugal who received orders between May 10 and August 8, 2026 may be affected.

Trezor says its own systems and devices were not compromised, but affected users could face more sophisticated phishing attempts. Affected customers have been notified directly by official email.

Institutional finance, tokenization and crypto-linked investment products shaped the week’s biggest developments. Activity ranged from ETF expansion and a new Middle East tokenization hub to large Bitcoin treasury sales and miners pushing deeper into AI infrastructure.

Recent Updates & Developments

- Goldman Sachs agreed to acquire NEOS for $2.25B

- Fidelity prepares to add staking to its ETH ETF

- Strategy sold 1,638 BTC below its cost basis

- Riot signed a $9.1B AI deal with Anthropic

- Coinbase opened an Abu Dhabi tokenization hub

- Bybit sued North Korea over its $1.5B hack

- Crypto.com launched derivatives on 1,500 U.S. stocks and ETFs

- MARA sold 23,093 BTC for roughly $1.6B