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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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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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