Ripple Grows its Presence in Asia; Bo Hines Joins Tether Team

August 24, 2025 dailymirror

This week, the cryptocurrency landscape saw a variety of significant partnerships, regulatory advancements, and noteworthy token acquisitions.

Highlights include Ripple’s collaboration with SBI Holdings to launch RLUSD in Japan and SharpLink Gaming’s major investments in Ethereum and Bitcoin, drawing significant media attention.

Additionally, global authorities stepped up their fight against cybercrime, regulators initiated their “crypto sprint” projects, and both political and corporate players increased their engagement in this sector.

Here’s a recap of the major stories shaping the crypto environment this week.

SBI Holdings embraces Ripple’s stablecoin

Tokyo-based SBI Holdings has teamed up with Ripple to launch the RLUSD stablecoin in Japan.
The partnership aims for a launch in the first quarter of 2026.

Interpol leads a cybercrime crackdown

Operation Serengeti 2.0 resulted in over 1,200 arrests across 18 African nations and the UK.
This operation targeted criminals who defrauded 88,000 victims through various schemes, including cryptocurrency scams, leading to the recovery of more than $97.4 million.

VanEck files JitoSOL ETF application

The global investment management firm has filed registration documents with the Securities and Exchange Commission for the VanEck JitoSOL ETF, which aims to track the liquid staking token.

CFTC progresses crypto sprint initiative

The Commodity Futures Trading Commission is advancing its third phase of expedited rulemaking efforts, following the suggestions from the President’s Working Group on Digital Asset Markets.
These “crypto sprint” measures are designed to establish clearer regulatory standards for digital asset derivatives and trading.

An unidentified cryptocurrency holder lost 783 Bitcoin after scammers posed as support reps from a hardware wallet manufacturer and an exchange platform.

South Korean officials get ready for stablecoin framework

Top executives from leading Korean financial institutions are scheduled to meet with teams from Tether and Circle Internet Group this week.
These discussions precede South Korea’s anticipated legal frameworks for stablecoin operations, expected to launch in October.

DBS Bank tokenizes structured notes via Ethereum

Singapore’s largest financial institution announced its plans to offer tokenized structured notes in collaboration with ADDX, DigiFT, and HydraX.
Eligible traders will access these products through cryptocurrency investment platforms and exchanges.

Winklevoss twins boost political donations

Tyler and Cameron Winklevoss donated an additional $21 million worth of Bitcoin (BTC) to the Digital Freedom Fund PAC, totaling over 188 BTC in political advocacy contributions.
This donation is aimed at ensuring President Donald Trump’s continued support for the cryptocurrency industry.

SharpLink Gaming secures largest Ethereum acquisition

The online gambling marketing firm bought 143,593 Ethereum (ETH) for $601.5 million between August 10-15.
This acquisition marks SharpLink’s biggest Ethereum purchase in the last month, reflecting a shift in its treasury strategy.

SkyBridge Capital plans to tokenize $300m in hedge funds

Anthony Scaramucci’s investment management firm will tokenize $300 million worth of hedge funds on the Avalanche network, in partnership with Tokeny and Apex Group.
The Digital Macro Master Fund and Legion Strategies will move on-chain as part of this collaboration with the $3.5 trillion asset manager.

Bo Hines joins Tether

The former presidential crypto advisor has been appointed as a strategic advisor for digital assets and U.S. strategy at the stablecoin firm.
Hines will focus on Tether’s strategy for penetrating the American market.

Thailand postpones crypto tourist payment features

The Bank of Thailand has paused cryptocurrency conversion functionalities in its new Tourist Wallet, awaiting regulatory review through mid-August.
The digital payment system currently enables QR-based foreign currency conversions with eight partner nations, including Singapore and Malaysia.

Strategy continues to accumulate Bitcoin

Strategy acquired 430 Bitcoin for $51.4 million during the week, averaging a purchase price of $119,666 per coin.