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Ethereum briefly touches $4,000

Meanwhile, a new entrant to the ethereum treasury firm, Fundamental Global Inc., is offering $5 billion of securities with a goal “to acquire and grow our overall ETH position.”

Sage D. Young

8/8/25 12:56PM

Ethereum briefly surpassed $4,000 on Friday, a critical resistance level last seen in December.

As a result of the token’s price increasing more than 9% in the last 24 hours, roughly $93 million of ethereum short positions were liquidated, according to data from crypto derivative data analysis platform CoinGlass.

The price action of ethereum comes hot off the heels of ethereum treasury company Fundamental Global Inc. filing an S-3 registration statement with the US Securities and Exchange Commission on Thursday that states the company may sell $5 billion worth of securities. Shares of Fundamental Global have plummeted over 46% on the day.

The prospectus does not announce that Fundamental Global will directly use the proceeds to purchase ethereum, but the document does say the firm intends to accumulate the token as a long-term treasury asset.

“Our goal is to acquire and grow our overall ETH position and utilize professional treasury strategies to significantly increase our ETH per common share,” the filing states. “Our treasury strategy will be focused on increasing the amount of ETH through a combination of capital raising activities and Treasury activities including staking, restaking, liquid staking and other decentralized finance activities.”

On Tuesday, Fundamental Global announced closing a $200 million private placement to accelerate its ethereum acquisition strategy. “This capital positions us to execute our ETH treasury strategy at scale with a target of 10% stake in the Ethereum Network,” the firm’s CEO and chairman, Kyle Cerminara, said.

In other ethereum news:

SharpLink Gaming, a prominent ethereum treasury company, announced entering into a securities purchase agreement for $200 million. A Thursday press release stated that net proceeds of the offering will be allocated to the firm’s ethereum treasury.
After starting the week with the largest daily outflow ever, at $465 million, US spot ethereum ETFs recorded three consecutive days of inflows, with Thursday seeing $222 million of inflows. However, inflows for the week are still negative, per SoSoValue.
Uniswap, a popular decentralized exchange that has a total locked value of $5.7 billion, recorded an all-time high in yearly swaps. This year, the protocol has seen 719.9 million swaps, more than last year’s total of 670.7 million, a Dune Analytics dashboard created by Uniswap Labs shows.

Yaël Bizouati-Kennedy

22h

Bitcoin and crypto industry can’t hold CLARITY Act bump as it heads to Senate

While bitcoin, Coinbase, Circle, and Strategy all gained right after the CLARITY Act cleared the Senate Banking Committee, the momentum reversed on Friday and crypto slumped.

Yaël Bizouati-Kennedy

What had happened was

5/14/26

We talked to the man who says Claude helped recover $400,000 worth of bitcoin locked in wallet for over a decade

“I was taking pictures of school notebooks and sent them to Claude, trying everything to piece anything together. I also said how I make passwords. I gave Claude context,” X user Cprkrn told us.

Sage D. Young5/14/26

Crypto IPOs hit pause as “appetite has been sold to AI”

The rule of three means we can now declare 2026 will not be the year of crypto IPOs:

Ethereum development firm Consenys,
Security hardware company Ledger,
And crypto exchange Kraken are pausing plans to go public, according to reports from CoinDesk.

The companies have delayed their IPOs due to tough market conditions, the report said, including declined trading volume in digital assets, weak price performance of tokens, and investor interest in other sectors.

Kay Kyeongsik Woo, the founder of blockchain ride-hailing application Tada, told Sherwood News, “The market is cooled down and investors’ appetite has been sold to AI.”

Just today, AI chipmaker Cerebras Systems went public and is this year’s largest IPO so far, and investors are excited about potential IPOs for OpenAI and Anthropic as their valuations soar.

“It’s a fair decision on behalf of all the crypto firms,” according to Kairos Research cofounder Ian Unsworth. “For one thing, they will ultimately be dwarfed by some of the other massive IPOs coming up.”

Unsworth also pointed to how the CLARITY Act, if passed, could be a strong tailwind for these companies. “A better regulatory environment could make these companies more appealing to potential investors,” he said.

Consensys, Ledger, and Kraken did not confirm to Sherwood if they had put their IPO plans on hold. A Consensys spokesperson told Sherwood, “As a matter of policy, we do not comment on market speculation,” while a Ledger representative declined to comment on the story.

Meanwhile, Lauren Post, Kraken’s vice president of corporate communications, told Sherwood that the company did not put out any public statements on freezing IPO plans.

Sage D. Young5/13/26

XRP tops 24-hour chart on South Korean crypto exchange

XRP is among South Korea’s favorite coins.

In the last 24 hours, XRP saw the highest trading volume on South Korean exchange Upbit at over $105.3 million, a figure exceeding bitcoin’s $102.6 million, ethereum’s $62.9 million, and dogecoin’s $27.7 million, data from CoinGecko shows.

Meanwhile, spot XRP ETFs saw $5.3 million worth of inflows on Tuesday, bringing monthly inflows to more than $65.3 million, according to SoSoValue.

The activity has not, however, translated into positive momentum for the token, with XRP remaining flat at the $1.43 level in the period.

Prediction market-implied odds of XRP rising above $1.50 in May (a level that hasn’t been surpassed in over two months) now stand at 70%, up from as low as 9% at the start of the week.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

XRP returning to Upbit’s leadership position in trading volume follows the news earlier this week that Ripple’s prime brokerage unit secured a $200 million debt facility from global investment management firm Neuberger Berman to aid with the unit’s margin financing solutions.

Elsewhere, the XRP Ledger notched a new record of 332,000 addresses holding at least 10,000 tokens, worth $14,300, per data analytics platform Santiment. “Historically, rising numbers of mid-to-large wallets suggest increasing conviction from investors who are less focused on short-term price swings and more interested in long-term positioning,” Santiment posted Tuesday night on X.

“This is especially notable because XRP has spent much of 2026 trading below previous highs, meaning many holders appear willing to accumulate during fear rather than chase momentum,” Santiment added.

Yaël Bizouati-Kennedy

5/13/26

CLARITY Act could help reshape bitcoin’s narrative for second half of 2026

“Thursday isn’t the finish line, it’s the gate. A clean markup is what tells institutional capital it’s safe to come off the sidelines.”

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Ethereum briefly touches $4,000

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