Ripple expands in Asia, Bo Hines joins Tether

This week in crypto, the market saw a mix of high-profile partnerships, regulatory moves, and massive token acquisitions.

From Ripple and SBI Holdings preparing to bring RLUSD to Japan, to SharpLink Gaming and Strategy making significant Ethereum and Bitcoin buys, digital assets continue to make waves.

Meanwhile, global authorities cracked down on cybercrime, regulators pushed forward with “crypto sprint” initiatives, and political and corporate actors deepened their stake in the space.

Here’s a roundup of the top stories shaping the crypto ecosystem this week.

SBI Holdings welcomes Ripple stablecoin

• Tokyo-based financial services giant SBI Holdings agreed to collaborate with Ripple for introducing RLUSD stablecoin to Japan.
• The partnership targets the first quarter of 2026 for market launch.

Interpol coordinates cybercrime crackdown

• Operation Serengeti 2.0 resulted in over 1,200 arrests across 18 African nations and the United Kingdom.
• The operation targeted criminals who victimized 88,000 individuals through various schemes including cryptocurrency fraud. Authorities confiscated more than $97.4 million.

VanEck submits JitoSOL ETF application

• The global investment management company filed registration documents with the Securities and Exchange Commission for a proposed VanEck JitoSOL ETF tracking the liquid staking token.

CFTC advances crypto sprint initiative

• The Commodity Futures Trading Commission continues to implement its third phase of accelerated rulemaking efforts based on recommendations from the President’s Working Group on Digital Asset Markets.
• These “crypto sprint” measures aim to establish clearer regulatory frameworks for digital asset derivatives and trading.

Social engineering scam costs investor $91 million

• An unidentified cryptocurrency holder lost 783 Bitcoin after fraudsters impersonated customer support representatives from a hardware wallet manufacturer and exchange platform.

South Korean officials prepare stablecoin framework

• Senior executives from major Korean financial institutions are scheduled to meet with leadership teams from Tether and Circle Internet Group this week.
• These discussions precede South Korea’s anticipated October launch of legal frameworks governing stablecoin operations.

DBS Bank tokenizes structured notes on Ethereum

• Singapore’s largest financial institution announced plans to offer tokenized structured notes through partnerships with ADDX, DigiFT, and HydraX platforms.
• Eligible traders will access these products via cryptocurrency investment platforms and exchanges.

Winklevoss twins increase political contributions

• Tyler and Cameron Winklevoss donated an additional $21 million worth of Bitcoin (BTC) to the Digital Freedom Fund PAC, contributing over 188 BTC to political advocacy efforts.
• The contribution aims to maintain President Donald Trump’s support for the cryptocurrency industry.

SharpLink Gaming makes largest Ethereum purchase

• The online gambling marketing company acquired 143,593 Ethereum (ETH) for $601.5 million between August 10-15.
• This purchase represents SharpLink’s largest Ethereum acquisition over the past month as part of its treasury strategy transition.

SkyBridge Capital to tokenize $300m in hedge funds

• Anthony Scaramucci’s investment management firm will tokenize $300 million worth of hedge funds on the Avalanche network through partnerships with Tokeny and Apex Group.
• The Digital Macro Master Fund and Legion Strategies will move on-chain through this collaboration with the $3.5 trillion asset manager.

Bo Hines joins Tether

• The former presidential crypto advisor accepted appointment as strategic advisor for digital assets and U.S. strategy at the stablecoin issuer.
• Hines will focus on Tether’s American market entry strategy.

Thailand delays crypto tourist payment features

• The Bank of Thailand suspended cryptocurrency conversion capabilities in its new Tourist Wallet pending regulatory review through mid-August.
• The digital payment system currently supports QR-based foreign currency conversions with eight partner countries including Singapore and Malaysia.

Strategy accumulates more Bitcoin

• Strategy purchased 430 Bitcoin for $51.4 million during the week, paying an average price of $119,666 per coin.