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Bitcoin News Roundup for Aug. 10, 2020
With the price of bitcoin knocking on $12K, CoinDesk's Markets Daily is back with another time-saving news roundup.
Updated Sep 14, 2021, 9:41 a.m. Published Aug 10, 2020, 4:00 p.m.
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With the price of bitcoin knocking on $12K, CoinDesk's Markets Daily is back with another time-saving news roundup.
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This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.
Today's stories:
First Mover: Bitcoin Hits $12K as Trump Orders Checks for Unemployed (Voters)
Bitcoin pushed above $12,000 as President Donald Trump ordered emergency economic aid measures that might just be a precursor to a new spending bill worth trillions of dollars.
Ethereum Classic Attacker Double-Spends $1.68M: Report
The attacker attempted to double-spend roughly $3.3 million during the second attack.
Crypto Attacks and What They Mean for Open-Source Value
Ethereum Classic's recent 51% attacks highlight the value of large open-source networks such as Bitcoin and Ethereum – it’s about more than hashrate.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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How a 'perpetual’ stock trick could solve Michael Saylor’s $8 billion debt problem
The bitcoin treasury firm is using perpetual preferreds to retire convertibles, offering a potential framework for managing long-dated leverage.
What to know:
- Strive upsized its SATA follow on offering beyond $150 million, pricing the perpetual preferred at $90.
- The structure offers a blueprint for replacing fixed maturity convertibles with perpetual equity capital that removes refinancing risk.
- Strategy has a $3 billion convertible tranche due in June 2028 with a $672.40 conversion price, which could be addressed using a similar preferred equity approach.
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