Ndax Weekly TL;DR Aug 18

• SEC Shifts Focus to Clear Crypto Rules Following Ripple Case Settlement
• Do Kwon Pleads Guilty to Fraud in $40B Terra Collapse, Faces Up to 12 Years Under Plea Deal
• Google Play Store Bans Crypto Wallet Apps in 15 Regions, Imposes Licensing Rules

The U.S. Securities and Exchange Commission plans to prioritize developing a clearer regulatory framework for cryptocurrencies after concluding its nearly five-year legal battle with Ripple Labs. The dispute ended when both parties agreed to drop their appeals and cover their own legal costs, following prior court rulings that distinguished between XRP sales to retail and institutional investors. SEC Chair Paul Atkins said the agency can now redirect resources from litigation to policymaking aimed at fostering innovation while protecting investors. Commissioner Hester Peirce called the case’s closure a welcome opportunity to focus on constructive regulation. Cointelegraph

Terraform Labs co-founder Do Kwon has pleaded guilty in U.S. federal court to conspiracy to defraud and wire fraud, admitting he misled investors about the stability of Terra’s ecosystem before its $40 billion collapse. The plea agreement includes over $19 million in penalties and sets a statutory maximum of 25 years, though prosecutors will recommend no more than 12 years if Kwon accepts responsibility and commits no further offenses. His sentencing is scheduled for Dec. 11. Prosecutors allege Terra’s products were inherently unstable and propped up by manipulation, with the collapse triggering widespread losses across crypto markets. Kwon’s guilty plea comes after nearly a year evading authorities before being arrested in Montenegro and extradited to the U.S. CryptoSlate

Google has introduced new licensing requirements for cryptocurrency wallet apps in 15 jurisdictions, including the U.S. and EU, mandating compliance with local financial regulations for both custodial and non-custodial wallets. In the U.S., developers must register as Money Services Businesses with FinCEN and obtain state money transmitter licenses—standards that exceed existing legal requirements for non-custodial wallets. They warn that Big Tech platform policies may now pose as significant a barrier to crypto app distribution as government regulation. CryptoSlate 

Ndax's news feature provides the latest news, stories, and trends to help you keep your hand on the pulse of crypto and blockchain.

View Live Stories

News Nuggets

• Bank of Canada Split on Future Rate Cuts Amid Trade Uncertainty Financial Post
• Ethereum Core Developer Loses Funds to Malicious AI Code Assistant Extension Cointelegraph
• Wisconsin Lawmakers Push Bills to Tighten Rules on Crypto ATMs Amid Fraud Concerns Cointelegraph
• BtcTurk Halts Crypto Transactions After $48M Multi-Chain Hot Wallet Breach Cryptonews
• From NFT Bust to $50M in Revenue: How Plushies Revived Pudgy Penguins Cointelegraph
• New York Bill Proposes 0.2% Crypto Transaction Tax to Fund School Programs CryptoSlate
• SEC Delays Decision on Solana Spot ETFs to October CryptoSlate
• Satoshi Nakamoto Surpasses Bill Gates in Wealth as Bitcoin Hits $124K crypto news

As of 08-18-2025 at 9:05 AM EDT

Market Summary

• Over the past seven days, the global cryptocurrency market capitalization has decreased from CA$5.49 trillion to CA$5.38 trillion.
• Bitcoin's market dominance stands at 58.9%, while Ethereum's share is 13.4%.

Performance

• Over the past 24 hours, the price of BTC has fluctuated between CA$158K and CA$162K registering a 4% change over the past week and a market cap of CA$3.2 trillion. At Ndax, the weekly movers are LINK, which saw a 19% increase in the last seven days reaching a market cap of CA$23.9 billion, and ARB, which experienced a 17% rise with a market cap of CA$3.8 billion. (At time of writing)

Visit our new markets page offering real-time data for almost 17,000 cryptocurrencies. Track trends, monitor your favorite cryptocurrencies, and stay ahead of the market. 

View Live Market Data 

• Aug 19 – CA Inflation Rate Announcement
• Aug 20 – US FOMC Minutes Meeting
• Aug 21 – US Initial Jobless Claims Announcement 

This week’s blog takes you into the playful world of Pudgy Penguins (PENGU) — the icy-cool Solana memecoin inspired by one of Web3’s most beloved NFT brands. To learn more, click here.

• One Click Staking
• Flexible and Fixed Plan Options
• Earn Passive Income
• Grow Your Holdings

Discover Staking

Introduce Ndax to your community and unlock rewards! For every new user you refer to Ndax, you'll automatically earn $15-$30 CAD, terms and conditions apply.

Share your affiliate link now.

Thanks for reading our latest newsletter. Don't forget to follow us on social media for more updates and join the conversation on our forums.

Happy trading, 
The team at Ndax