Bitcoin (CRYPTO: $BTC) and other cryptocurrencies appeared to be holding onto their recent gains despite being under pressure to end the trading week on Aug. 28.
In late afternoon trading, Bitcoin was down 3% and trading at $77,500 U.S. as stocks and digital assets declined following comments by U.S. Federal Reserve Chair Kevin Warsh that he is committed to lowering inflation. Other cryptocurrencies were also falling on the day, with Ethereum’s (CRYPTO: $ETH) price also down 3% to $2,430 U.S.
The Friday decline comes after Bitcoin and other digital assets held up well throughout the week, managing to hold the gains achieved from a massive rally over the past 10 days that saw Bitcoin’s price climb 25% higher and Ethereum increase more than 30%. Throughout the past week, BTC traded right around $80,000 U.S. and briefly rose above that level several times.
Crypto prices have rallied amid growing concerns about the U.S. fiscal situation after America’s debt hit $40 trillion U.S. Treasury yields, which influence borrowing costs across the economy, have risen to their highest level in nearly 20 years, causing gyrations in the stock market and sending investors back into crypto and other assets viewed as a store of value such as gold.
Here’s what else happened with cryptocurrencies over the past week…
Strategy Leaves Bitcoin Holdings Unchanged: Strategy (NASDAQ: $MSTR) left its Bitcoin (CRYPTO: $BTC) holdings unchanged over the past week as the price of the largest cryptocurrency rose more than 20%. The company sold 18.26 million shares of its common stock, increased its cash reserves to $5.1 billion U.S., and repurchased $136.4 million of its preferred stock (NASDAQ: $STRC). However, Strategy did not buy or sell any Bitcoin as the price jumped 24% from $63,000 U.S. to near $80,000 U.S.
Coinbase Debuts Tokenized Stocks On Base Network: Cryptocurrency exchange Coinbase Global (NASDAQ: $COIN) has debuted tokenized stocks on its Base blockchain network. Coinbase said that investors can now trade tokenized versions of stock such as Apple (NASDAQ: $AAPL), Nvidia (NASDAQ: $NVDA), and Alphabet (NASDAQ: $GOOGL). The tokens are available to eligible investors outside the U.S. and represent shares held 1:1. Base is a secure, low-cost Ethereum Layer 2 blockchain network run by Coinbase.
Americans Oppose Crypto In Retirement Plans: A new survey found that a majority (53%) of Americans oppose employers offering cryptocurrencies in workplace retirement plans. The same survey found that 77% of respondents view crypto such as Bitcoin as risky investments. The National Institute on Retirement Security reported in its survey that 46% of respondents considered cryptocurrencies in workplace retirement plans “very risky.”
Brazil To Implement Crypto Monitoring System: Brazil’s central bank plans to implement a real-time crypto threat alert system following several major cyberattacks and thefts. The new crypto monitoring system will connect banks and domestic stock exchanges, and provide around the clock surveillance of cryptocurrency transactions. The move by Brazil comes after hackers stole an estimated $180 million U.S. of crypto from digital wallets in the country during 2025.
Investors In Trump Crypto Ventures Are Down $4.7 Billion: A new report by advocacy group Public Citizen says that investors who put money into President Donald Trump’s crypto ventures are $4.7 billion U.S. underwater. At the same time, Trump himself has earned at least $1.4 billion U.S. from the crypto ventures. Public Citizen said the figure is largely made up of unrealized losses. The biggest losses for investors have been seen in President Trump’s memecoin (CRYPTO: $TRUMP) that launched in January 2025 before his inauguration.
Circle Strikes Sponsorship Deal With Chelsea: Stablecoin issuer Circle Internet Group (NYSE: $CRCL) has struck a sponsorship deal with British Premier League soccer team Chelsea. The deal, reportedly worth $88 million U.S. per year, will see Circle’s USDC stablecoin (CRYPTO: $USDC) added to the front of the jerseys worn by Chelsea soccer players. Chelsea will debut its new USDC-branded uniforms at its first home game of the Premier League season on Aug. 30.
HIVE Board Member Sells Company Stock: A board member at Canadian crypto miner and data centre operator HIVE Digital Technologies (NASDAQ: $HIVE) has sold company stock. Dave Perrill, a director at HIVE Digital, sold 100,000 common shares on Aug. 19 for proceeds of $271,910 U.S. Following the disposal of the 100,000 shares, Perrill no longer directly owns any stock in HIVE Digital.
Bitmine Makes Big Ethereum Purchase: Bitmine Immersion Technologies (NYSE: $BMNR) increased its purchase of Ethereum even as the cryptocurrency’s price rallied 34%. The largest Ethereum treasury company made its biggest purchase of Ethereum since early July, acquiring an additional 32,447 ETH at a cost of $81 million U.S. Bitmine is close to its goal of owning 5% of Ethereum's circulating supply. The company has added ETH every week since launching its Ethereum treasury strategy in 2025.
Gemini Expands Prediction Market Offering: Cryptocurrency exchange Gemini (NASDAQ: $GEMI) is expanding further into prediction markets through a new partnership with Apex Fintech Solutions. Gemini, founded by the twin brothers Cameron and Tyler Winklevoss, is teaming up with Apex to expand distribution of its prediction markets to brokerage firms. Sports, politics, and cryptocurrency have emerged as the most popular trades on prediction markets.
Ethereum Developers Fight Quantum Attacks: A group of Ethereum developers say they are taking steps to secure the blockchain from potential quantum computer attacks. Powerful quantum computers are seen as a major threat to cryptocurrencies, with the ability to attack blockchains and drain digital wallets. The steps being taken by Ethereum developers target the deposit contract, or entry point through which users lock-up Ethereum on the blockchain. Developers are also looking at retiring old deposit-processing systems that Ethereum has used and transferring deposits onto newer frameworks.
