Bit editor's daily selected Web3 news:
【Reuters: Bullish Plans to Expand IPO Scale and Raise Target Valuation to $4.82 Billion】
According to Reuters, the cryptocurrency trading platform Bullish, supported by Peter Thiel, has expanded its initial public offering (IPO) scale, with the current target valuation reaching $4.82 billion. This is a significant increase from the previous $4.2 billion target, reflecting the sudden surge of market enthusiasm for digital assets.
【Fintech Giant Stripe is Collaborating with Crypto VC Paradigm to Develop "Tempo" Blockchain】
According to Fortune, fintech giant Stripe is secretly developing a new blockchain called "Tempo" in collaboration with crypto venture capital firm Paradigm.
A now-removed job posting indicates that Tempo is a "high-performance, payment-focused Layer 1 blockchain" with a current team of five people and compatible with Ethereum's programming language. This move marks Stripe's further advancement in the crypto payment field, having previously invested $1.1 billion to acquire the stablecoin infrastructure company Bridge and purchase the crypto wallet developer Privy.
Stripe's CEO Patrick Collison has publicly stated that as technology matures, enterprises' interest in stablecoins is significantly growing. By launching its own blockchain, Stripe will be able to control the core technology stack of stablecoin transaction processing, thereby securing a more important position in the increasingly hot stablecoin market. Both Stripe and Paradigm declined to comment on this news.
【Terra Founder Do Kwon May Soon Plead Guilty in US Fraud Case】
According to The Block, after US prosecutors have accused Terraform Labs co-founder Do Kwon of fraud and money laundering for years, he may plead guilty.
In a trial schedule order submitted to the Southern District of New York on Monday, Judge Paul Engelmayer wrote: "The court has been informed that the defendant may change his plea." The judge stated in the order: "...the defendant should prepare a narrative statement covering all elements of the crimes to which the defendant will plead guilty." A meeting to discuss this matter is scheduled for Tuesday morning Eastern Time.
In March 2023, Do Kwon was charged with conspiracy to commit fraud, commodity fraud, wire fraud, securities fraud, conspiracy to commit fraud, and involvement in market manipulation and money laundering. He stated his not guilty plea in January, and his legal representative has not responded to requests for comment.
【Trump Team Includes Bowman, Jefferson, and Logan in Federal Reserve Chairman Candidate List】
According to two US government officials, two Federal Reserve vice chairs, Bowman and Jefferson, and Dallas Fed President Logan are being considered for the Federal Reserve chairman position next year. Treasury Secretary Besson said he would interview more candidates in the coming weeks. Officials say Trump is expected to make a final announcement in the fall. Other candidates still under consideration include Trump's economic advisor Kevin Hassett, Fed Governor Waller, economist Mark Summerlin, and former Fed officials Kevin Walsh and James Bullard. Last week, Trump nominated White House Council of Economic Advisers Chair Stephen Millan to fill a Fed governor seat, and officials say since Millan's nomination has been submitted to the Senate for confirmation, the Trump team does not feel urgent to find a new chairman. Besson will interview all chairman candidates and then recommend a shortlist to the president for a meeting.
【Market News: Coinbase Ventures Purchases TON Tokens Directly from Telegram】
According to market news, TON Foundation executives revealed that Coinbase Ventures directly purchased TON tokens from Telegram.
Users are reminded: This information has not been officially confirmed by Coinbase Ventures and is for reference only.
【Uniswap Foundation Plans to Adopt Wyoming DUNA Framework to Promote Protocol Fee Mechanism】
Plans to allocate $16.5 million worth of UNI to settle past tax and legal defense budgets. The new entity will not change the Uniswap protocol, token, or governance structure, and fee income cannot be directly distributed to UNI holders.
【Stablecoin Issuer Paxos Applying for Trust Bank License from US Comptroller of the Currency】
According to market news, stablecoin issuer Paxos says it is applying for a trust bank license from the US Comptroller of the Currency and plans to open an office in the US to expand its regulated financial services.
【Fundamental Global: ETH Holdings Reach 47,331 Tokens】
Nasdaq-listed Fundamental Global announced that it has used all net proceeds from its previous $200 million private placement to purchase ETH, with ETH holdings reaching 47,331 tokens as of 6:30 PM Eastern Time on August 10, 2025, at an average purchase price of $4,228.40.
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