Vietnam begins testing digital asset trading platform at the international financial center, while important developments in the global cryptocurrency market continue to be updated.
Through three important legal initiatives, Vietnam is laying the foundation for the digital asset industry, focusing on Blockchain infrastructure and enhancing cybersecurity. Large financial institutions and blockchain projects worldwide continue to make significant progress in technology development and asset scale.
- Vietnam pilots a digital asset trading platform at the international financial center.
- Large blockchain projects like Circle and Grayscale continue to expand scale and release new products.
- Global financial and cryptocurrency trading situations record numerous investments, stock issuances, and new funds.
How has Vietnam deployed the digital asset trading platform pilot?
The Vietnamese government has approved a plan to test a digital asset trading platform at an international financial center, promoting the legal and technological environment for this industry.
Three legal initiatives including the Resolution on Financial Center Development, the proposal to pilot a digital asset trading platform, and clear regulations on asset types have created a solid foundation. The Ministry of Finance is finalizing policies to be submitted to the Government in August, detailing regulations on issuance, trading, and management of digital assets.
The choice of listed assets is at the service provider's discretion, prioritizing high-liquidity assets. Blockchain is considered the core infrastructure, along with enhanced cybersecurity and risk management. The State Bank is also studying the national digital currency (CBDC) model.
How was the Grayscale Cardano Trust ETF established?
According to business registration information, the Grayscale Cardano Trust ETF was legally established in Delaware on August 12, 2025, in the form of a statutory trust.
The registered address is 251 Little Falls Drive, Wilmington, DE, with CSC Delaware Trust Company as the legal representative. The establishment of this fund demonstrates the trend of expanding cryptocurrency investment focused on platform projects like Cardano.
What charges and legal proceedings does Do Kwon face related to the TerraUSD collapse?
Do Kwon will plead guilty to two charges: conspiracy to commit fraud and wire fraud, related to the collapse of over $40 billion in TerraUSD and Luna cryptoassets.
The judge in the US court stated that Kwon was accused of deceiving investors about TerraUSD's algorithmic self-recovery capability, while secretly directing high-frequency trading companies to buy and increase prices. This pushed the total market capitalization to $50 billion in early 2022. Kwon previously settled with the US Securities and Exchange Commission (SEC), paying an $80 million fine and being banned from cryptocurrency trading; he has since been arrested after being extradited to the US in 2024.
"The TerraUSD incident is an important lesson about transparency in cryptocurrency management and the founder's responsibility to the investment community."
Commentary from a legal expert related to the Do Kwon case, 2025
What new developments do large blockchain and DeFi projects have in 2025?
Circle recently announced plans to release a Layer-1 blockchain called Arc, focusing on USDC stablecoin with stable transaction fees, 24/7 automatic payments, and the Malachite consensus mechanism that helps complete transactions quickly.
Arc will support applications like cross-border payments, stablecoin derivatives, and on-chain credit processing. The public beta version is expected to launch in late 2025, with mainnet in 2026. Meanwhile, Grayscale is developing two single-asset trust funds, DeepBook and Walrus, supporting liquidity and on-chain data applications for the Sui ecosystem.
Starknet expands with the Extended DEX derivatives platform, allowing leverage trading up to 100 times, with daily trading volume reaching $319 million. This is an important event helping to expand Layer-2 derivatives trading on Ethereum.
What are the notable financial reports of international cryptocurrency companies?
eToro's Q2/2025 report shows cryptocurrency trading revenue of $1.91 billion, accounting for 91% of total revenue of $2.09 billion. However, the company recorded a net loss of $8.4 million from cryptocurrency derivatives, while diversifying into other fields like securities.
Circle announced a 90% growth in circulating USDC compared to the same period, reaching $61.3 billion. Total revenue and income from reserves increased 53% to $658 million, but reported a loss of $482 million due to non-cash expenses related to the IPO. Circle is developing payment networks and collaborating with many large corporations to consolidate its position.
"The expansion of USDC and development of the Arc blockchain proves Circle's commitment to creating a sustainable and efficient stablecoin financial ecosystem."
Josh Silva, Circle Product Director, 2025
What investments, stock issuances, and strategic deals were announced?
Transak completed a strategic funding round of $16 million, led by IDG Capital and Tether, investing in expanding the global stablecoin payment network. Tether currently holds over 60% of the global stablecoin market share.
1Kosmos successfully raised $57 million in Series B, expanding biometric security development in digital identity verification in the US, European, and Asian markets. Diginex signed an acquisition agreement for the compliance automation company Findings for $305 million, marking an important step in compliant digital asset services.
What are the notable on-chain data and recent trading fluctuations?
Pump.fun first sold 86,000 SOL, raising about 16.28 million USDC, while addresses related to the Ethereum Foundation sold a total of 2,794.87 ETH within two hours.
A mysterious Ethereum whale has accumulated an additional 35,000 ETH, raising total holdings to 328,000 ETH. Meanwhile, the USDC Treasury on Solana issued an additional 500 million USDC, divided into two 250 million USD tranches on the evening of August 12 Vietnam time.
DeFi Protocol Aave has surpassed the deposit size of three major US banks, ranking 38th among US banks with over $67.9 billion in total deposits, showing the increasing influence and investor confidence in DeFi.
What Are the Notable Exchanges and Tokens in August 2025?
Binance Wallet collaborates with Cherry AI (AIBOT) to organize the 33rd Time-to-Energy event on PancakeSwap on August 14. Users participate with Binance Alpha Points to receive AIBOT Token, aiming to promote community activities and develop the new Token ecosystem.
The launch of the Extended derivatives trading platform on Starknet and the Sui Treasury from Grayscale also attracted significant attention, confirming the trend of expanding trading and investment on Layer-2 and new generation blockchains.
Frequently Asked Questions
How Will Vietnam Implement Cryptoasset Exchange Trials?
The Ministry of Finance will submit a pilot policy to the Government in August 2025, focusing on managing digital asset issuance and trading, prioritizing high-liquidity assets and ensuring cybersecurity.
What Charges Does Do Kwon Face Regarding TerraUSD?
He pleaded guilty to conspiracy and online fraud by deceiving investors about the TerraUSD algorithm, causing a collapse of over $40 billion in assets.
What Are the Highlights of Circle Arc Blockchain?
Arc uses USDC as gas, supports fixed fees, enables fast transactions with Malachite consensus, targeting cross-border stablecoin payments and DeFi.
On What Platforms Are Grayscale Treasuries Developed?
Grayscale released DeepBook and Walrus for native Tokens of the Sui ecosystem, focusing on on-chain liquidity and data storage with market values in hundreds of millions of dollars.
What Ranking Did Aave Achieve in the US Banking System's Deposit Scale?
Aave ranked 38th, surpassing three US banks, with total deposits over $67.9 billion, confirming its DeFi position in the traditional financial market.
