Bitcoin Hits Resistance at 122K; Ethereum Holds — Key Protocol Partnerships and Legal Risks to Watch

Today I summarize key crypto developments for 08/12 and highlight notable market moves and protocol news.

Industry trends: I observed that Bitcoin attempted to break 122,000 but was pushed back to about 118,000, underlining short-term volatility around the market leader. I also noticed that Ethereum has stayed relatively steady without a crash, preserving strong market sentiment despite broader declines.

Events tracking: I see Stripe partnering with Paradigm to build a payment blockchain called Tempo. I note Marathon Digital Holdings (MARA) plans a $168 million acquisition of Exaion majority stake from EDF. I also record that Terraform Labs co-founder Do Kwon may plead guilty in a U.S. fraud case. I observe the Uniswap Foundation proposing a Wyoming DUNA wrapper to enable DAO protocol fee conversion, which could reactivate long-awaited UNI governance. I track Safety Shot forming an alliance with contributors tied to the Bonk founder to launch a BONK treasury strategy.

Airdrop information: I found no airdrop news reported today.

I compiled these highlights using Alva. Visit alva.xyz to explore more.