Urgent Crypto News: Do Kwon Plea, Bitcoin Price & Ethereum’s Market Shifts

Stay informed with the latest daily crypto news. Today, significant developments are shaping the digital asset landscape. We cover key events impacting the Bitcoin price, blockchain innovations, DeFi, NFTs, Web3, and crypto regulation. This comprehensive update provides essential insights into market movements and crucial legal proceedings.

Do Kwon’s Pivotal Plea in Legal Battle

A federal judge overseeing the case against Do Kwon has scheduled a crucial Tuesday conference. During this session, the Terraform Labs co-founder “may enter a change of plea.” A Monday filing in the US District Court confirms this development. It came from the Southern District of New York (SDNY). Judge Paul Engelmayer ordered the parties to appear in court on Tuesday. This suggests Kwon may prepare to change his plea for some or all of his charges.

Kwon initially pleaded not guilty to nine felony counts in January. This followed a monthslong extradition battle in Montenegro. That process concluded with his removal to the United States. Judge Engelmayer emphasized the need for clarity. He stated, “the defendant should be prepared to give a narrative allocution that incorporates all elements of the offense(s) to which the defendant is pleading guilty.” The court also encouraged counsel to assist Kwon. They should help him write an allocution for public reading during the plea proceeding.

Authorities indicted Kwon in March 2023. Charges include securities fraud, market manipulation, money laundering, and wire fraud. These relate to his role at Terraform. He allegedly contributed to the Terra ecosystem’s collapse. This event erased $40 billion in investor assets.

Bitcoin Price and Corporate Crypto Treasury Concerns

Corporate crypto treasuries have significantly grown. They now surpass $100 billion. This surge raises concerns among analysts. They suggest the United States might nationalize some holdings. This move could mirror the gold standard era. Bitcoin price has seen remarkable gains, drawing corporate interest.

By the end of July, Bitcoin (BTC) treasury firms amassed 791,662 BTC. This total is worth roughly $95 billion. It represents about 3.98% of the circulating supply. Overall, corporate crypto treasuries have surpassed $100 billion in digital asset holdings. This increasing corporate ownership presents a new vulnerability for Bitcoin. Crypto analyst Willy Woo suggests Bitcoin could follow gold’s 1971 “nationalization path.”

Woo discussed this during a panel at Baltic Honeybadger 2025. He noted, “If the US dollar is structurally getting weak, and China is coming in, the US might make an offer. It could centralize all treasury companies. These holdings might then become digital, not a new gold standard.”

Furthermore, Woo added a stark warning:

• “You could then rug it like happened in 1971.”
• “And it’s all centralized around the digital Bitcoin.”
• “The whole history repeats again back to the beginning.”

This perspective highlights potential risks for corporate crypto holdings.

The 1971 Gold Standard Parallel

In 1971, US President Richard Nixon significantly altered the global financial system. He ended the Bretton Woods system. This action suspended the dollar’s convertibility into gold. He also abandoned the fixed $35-per-ounce rate. Effectively, this move ended the gold standard. Woo’s comparison suggests a similar fate could await centralized digital assets if governments decide to intervene.

Ethereum Holders May Shift to Bitcoin

Bitcoin pioneer Samson Mow predicts Ethereum investors will eventually rotate back to Bitcoin. He believes this will occur once ETH prices reach sufficiently high levels. This could reverse Ether’s recent five-week surge. However, historical market cycle patterns sometimes indicate otherwise.

Mow, CEO of Bitcoin adoption firm JAN3, shared his insights on Sunday. He stated, “Most ETH holders have a lot of BTC (ICO/insiders) and they are rotating that BTC into ETH to pump it on new narratives (Ethereum Treasury co’s).” This suggests a strategic move by large holders.

He further elaborated on his prediction. Once Ether (ETH) reaches a high enough valuation, “they’ll dump their ETH, creating new generational bagholders, and then rotate the gains back into BTC.” Mow, a strong Bitcoin (BTC) maximalist, asserted, “No one wants ETH in the long run.”

Mow has consistently criticized altcoins. He also noted the challenge for Ethereum to break all-time highs. “Because the closer you reach that psychological level, the stronger the drive to sell,” he explained. He termed this phenomenon the “Bagholder’s Dilemma.” These market dynamics remain crucial for understanding the future of both Bitcoin and Ethereum.

Today’s crypto news highlights critical shifts and ongoing legal battles. From Do Kwon‘s potential plea change to concerns over corporate crypto holdings and predictions about Ethereum‘s long-term value, the market remains dynamic. Stay tuned for more updates as these stories develop, impacting the broader digital asset ecosystem and the Bitcoin price.