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Bitcoin News Roundup for Aug. 12, 2020
With bitcoin prices sitting around $12K and Russia developing “Transparent Blockchain” AI, CoinDesk's Markets Daily is back for your latest crypto news roundup!
Updated Sep 14, 2021, 9:42 a.m. Published Aug 12, 2020, 4:00 p.m.
With bitcoin prices sitting around $12K and Russia developing “Transparent Blockchain” AI, 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
First Mover: How a DeFi Trader Made an 89% Profit in Minutes Slinging Stablecoins
So-called stablecoins like tether and USDC are $1 tokens in theory, but a complex arbitrage transaction seems to have netted one trader an 89% profit in just minutes.
Some Traders Now Taking Bets Ether Will Break $1K by December
Some option traders are now betting ether will rise to $1,000 by year’s end.
The Linux Foundation Wants Open-Source Tech to Address Future Pandemics
The Linux Foundation hopes open-source apps will play a key role in tracing exposure to diseases like COVID-19 while being fully transparent.
Russian Financial Crime Agency Plans AI Tool to Link Crypto Transfers to Users
Russia's anti-money laundering agency Rosfinmonitoring has already built a prototype blockchain analytics tool, according to a report.
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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 Treads Water Near $90K as Bitfinex Warns of 'Fragile Setup' to Shocks
BTC's relative weakness compared to stocks points to tepid spot demand, making the largest crypto vulnerable to macro volatility, Bitfinex analysts said.
What to know:
- Bitcoin erased very modest overnight gains early Monday and spent the rest of the U.S. session in a tight range around the $90,000 level.
- Rising long bond yields and a small U.S. equities pulling back weighed on risk appetite as traders eye this week's Federal Reserve meeting.
- Bitfinex analysts pointed out bitcoin's relative weakness against U.S. stocks amid modest spot demand and structural softness.
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