3 Crypto News Today (8/12), Did You Know?

Jakarta, Pintu News – The cryptocurrency world is heating up again with three big stories: a possible change of plea from Terraform Labs founder Do Kwon; fears of “nationalization” of Bitcoin’s (BTC) corporate holdings, which are now worth $95 billion; and a prediction from a Bitcoin figure that Ethereum (ETH) investors will switch back to BTC.

Read 3 crypto news today as of August 12, 2025 in this article!

Do Kwon will allegedly change his plea in court on Tuesday

Terraform Labs founder Do Kwon is scheduled to attend a hearing in New York’s Southern District Court this coming Tuesday, where he is likely to amend his plea in the criminal case against him. Judge Paul Engelmayer ordered Kwon and his legal team to attend, indicating that the amended plea will include an “allocution” or statement explaining all elements of the admitted offense.

Kwon previously pleaded not guilty in January to nine felony charges, including securities fraud, market manipulation, money laundering, and wire fraud.

These charges were related to the collapse of the Terra ecosystem that wiped out an estimated IDR 652 trillion ($40 billion equivalent) in investor asset value. After a lengthy extradition process in Montenegro, Kwon was finally handed over to US authorities in early 2025.

Also read: LayerZero Foundation Acquires Stargate in $110 Million Deal, Here Are the Details!

Corporate Bitcoin Holdings Top $95 Billion, Shadows of Digital “Fort Knox” Emerge

Corporate holdings of Bitcoin (BTC) now stand at 791,662 BTC, worth approximately Rp1,547 trillion ($95 billion equivalent) as of the end of July 2025. This represents 3.98% of the total BTC supply in circulation, sparking fears of a new point of vulnerability in the crypto ecosystem.

Crypto analyst Willy Woo compared this phenomenon to the history of gold before 1971, when the United States nationalized gold and ended the Bretton Woods system.

He warned that if the US dollar continues to weaken, the US government could take a similar step with Bitcoin-centralizing ownership through corporations and turning them into controlled digital assets. According to him, history could repeat itself, this time with a cryptocurrency version of “Fort Knox”.

Also read: BTC price reaches $122,000, ETH hits $4,300, what are the factors for the rise?

Samson Mow: ETH Investors Will Switch Back to BTC

JAN3 CEO and hardline Bitcoin supporter Samson Mow predicts that the rise in Ethereum (ETH) price to a certain level will encourage investors to switch back to Bitcoin (BTC).

He noted that many current ETH holders originally owned BTC and are rotating their capital to ETH to capitalize on new narrative trends such as “Ethereum Treasury Companies.”

However, Mow warns that when ETH (currently around Rp70 million or $4,295) reaches a certain psychological point, a big sell-off is likely to occur, creating a new wave of “bagholders”.

According to him, ETH will have a hard time breaking the all-time high because the closer it gets to that level, the greater the urge to sell. He even emphasized, “No one really wants ETH in the long run.”

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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Cointelegraph. Here’s what happened in crypto today. Accessed August 12, 2025
• Featured Image: Generated by AI