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Bitcoin News Roundup for Aug. 26, 2020
With bitcoin’s silver lining and Ribbit’s $350 million “Blank Check,” CoinDesk's Markets Daily is back for your latest crypto news roundup!
Updated Sep 14, 2021, 9:48 a.m. Published Aug 26, 2020, 4:00 p.m.
With bitcoin’s silver lining and Ribbit’s $350 million “Blank Check,” CoinDesk's Markets Daily is back for your latest crypto news roundup!
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This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.
Today's Stories:
Bitcoin Drop Squeezes Out Weak Derivatives Positions – And That May Be a Good Thing
Bitcoin’s latest price drop may have a silver lining.
Crypto and Fintech VC Ribbit Capital Seeks $350M in 'Blank Check' IPO
While it's unclear how much Ribbit Leap will focus on crypto or blockchain acquisitions, it comes at a time of renewed exuberance in the sector.
FTX Exchange's $150M Deal for Mobile-First Blockfolio Is a Retail Trading Play
The deal is a strategic play for FTX, whose clientele consists largely of quants and professional traders, to attract more retail customers.
Brazilian Lawmaker Proposes Crypto Regulations for a Country Devoid of Any
Brazil's crypto scene has been unbanked, unregulated and awash in legal uncertain for its entire history.
For early access before our regular noon Eastern time releases , subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica or RSS.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Bitcoin’s Long-Term Holders Hit Cyclical Low as Sell Pressure Finally Eases
Long-term holder supply bottomed when bitcoin sank to $80K, signaling that the wave of spot-driven selling may be nearing exhaustion as prices rebound to $90K.
O que saber:
- Long-term holder supply fell to 14.33M BTC in November, its lowest level since March, coinciding with bitcoin’s $80K correction low.
- The rebound to $90K suggests the bulk of spot-driven selling from seasoned holders has passed after a 36% peak-to-trough decline.
- Unlike prior cycles, LTH behavior in 2025 shows more measured distribution rather than blow-off-top capitulation, signaling a shift in market structure.
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