Jakarta, Pintu News – The ever-evolving world of cryptocurrencies is abuzz with activity! Keep up-to-date with these three major developments: Terraform Labs’ Do Kwon may be altering his court plea; concerns are rising about the accumulation of Bitcoin by corporations, now holding assets worth a staggering $95 billion; and a prominent Bitcoin advocate believes Ethereum investors are poised to return to BTC.
Stay informed with the top 3 crypto headlines on August 12, 2025, right here!
Do Kwon Reportedly Set to Change Plea in Court This Tuesday
This Tuesday, Do Kwon, the individual behind Terraform Labs, is expected in New York’s Southern District Court for a crucial hearing. Legal experts suggest he will likely revise his previous plea related to the criminal charges he faces. Judge Paul Engelmayer has mandated Kwon’s presence, along with his legal representatives, hinting at an amended plea that will include a comprehensive “allocution,” a detailed explanation of the elements of the crime he is admitting to.
Back in January, Kwon entered a “not guilty” plea to nine serious felony counts, encompassing allegations of securities fraud, market manipulation, money laundering, and wire fraud.
These charges stem from the dramatic collapse of the Terra ecosystem, a crash that resulted in approximately IDR 652 trillion (equivalent to $40 billion) in losses for investors. Following an extensive extradition process in Montenegro, Kwon was ultimately handed over to authorities in the United States earlier in 2025.
Also read: LayerZero Foundation Acquires Stargate for $110 Million: All the Details!
Corporate Bitcoin Hoards Exceed $95 Billion, Raising Concerns of a Digital “Fort Knox”
As of the end of July 2025, corporate entities collectively possess 791,662 BTC, a sum equivalent to roughly Rp1,547 trillion (approximately $95 billion). This significant amount accounts for 3.98% of the total Bitcoin currently in circulation, sparking worries about a potential weak point in the decentralized crypto landscape.
Crypto analyst Willy Woo has drawn parallels between this trend and the pre-1971 gold market, recalling the United States’ decision to nationalize gold, effectively ending the Bretton Woods system.
Woo cautions that if the US dollar continues its downward trajectory, the US government might consider a similar strategy with Bitcoin – consolidating ownership through corporate structures and transforming them into centrally controlled digital assets. According to his analysis, history could potentially repeat itself, but this time with a cryptocurrency version of the famed “Fort Knox.”
Also read: Bitcoin Hits $122,000, Ethereum Surges to $4,300: Decoding the Price Surge
Samson Mow Predicts Ethereum Investors Will Re-Embrace Bitcoin
Samson Mow, CEO of JAN3 and a staunch advocate for Bitcoin, forecasts that a significant rise in the price of Ethereum (ETH) will trigger a shift, prompting investors to return to Bitcoin (BTC).
Mow suggests that a substantial number of current ETH holders initially held Bitcoin and are strategically shifting their capital into ETH to capitalize on emerging trends, such as “Ethereum Treasury Companies.”
However, he cautions that once ETH (currently valued around Rp70 million or $4,295) reaches a certain psychological threshold, a substantial sell-off is likely to occur, creating a new generation of “bagholders” – investors left holding assets that have significantly decreased in value.
According to Mow, Ethereum will struggle to surpass its all-time high because the closer it gets to that level, the stronger the inclination to sell becomes. He even asserts, “No one really wants ETH in the long run.”
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