Today's Top Crypto Headlines:

OKB Jumps 160% | ETH Could Hit $8.5K | Google Wallet Policy Reversed | BtcTurk Suspected Hack and more...

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King Fatrick Gil Añasco
August 15, 2025

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Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

  1. OKB Soars After Token Burn: OKB jumped 160% after OKX burned 65M tokens, fixing supply at 21M. The exchange upgraded its Polygon-powered X Layer network and is phasing out OKTChain. A U.S. listing is being explored despite regulatory hurdles in Asia.

  2. ETH Price Could Reach $8.5K: Trader Yashasedu sees ETH hitting $8.5K if BTC hits $150K, driven by strong ETF inflows and corporate adoption. ETH is now just 5.35% below its all-time high, with analysts expecting record-breaking momentum.

  3. Google Reverses Wallet Policy: Google dropped its plan to require financial licenses for all crypto wallets on the Play Store after backlash. The reversal spares non-custodial wallet developers from custodial-level regulations.

  4. 💡Feature of the Day - BtcTurk Probes $48M Breach: Turkish exchange BtcTurk paused deposits and withdrawals after a suspected $48M hack. Most funds remain in cold storage, and investigations are underway.


    All this and more in today’s headlines!

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📰 News Highlights:

OKB Jumps 160% [Source][Source][Source][Source][Source]

OKB, the native token of OKX, surged nearly 160% following a one-time burn of 65 million tokens, fixing total supply at 21 million.

The burn, sourced from historical repurchases and treasury reserves, is a permanent change to the token’s economics, designed to increase scarcity and drive long-term value.

Alongside the burn, OKX upgraded its Polygon-powered X Layer network with Polygon CDK, boosting throughput to 5,000 TPS and cutting gas fees to negligible levels.

The exchange is also phasing out its OKTChain and Ethereum L1 version of OKB, with OKT being periodically converted into OKB. OKX is reportedly exploring a U.S. public listing, a rare move for a major crypto exchange, despite facing regulatory pushback in Asia.

Thailand’s SEC has blocked its operations, and the Philippines has issued an advisory for unauthorized activity.

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ETH Could Hit $8.5K [Source][Source][Source]

Crypto trader Yashasedu predicts Ethereum could reach $8,500 if Bitcoin climbs to $150,000, citing historical patterns where ETH’s market cap hits 30–35% of BTC’s.

Even conservative estimates place ETH between $5,376 and $7,420. This forecast is backed by record institutional demand, with spot Ether ETFs seeing $1.01 billion in net inflows in a single day.

Corporate adoption is also rising, with firms like BitMine Immersion Technologies planning a $20 billion raise to buy ETH.

With ETH just 5.35% below its $4,878 all-time high, analysts expect it to break records if Bitcoin rallies further, with momentum unlikely to cool until new highs are reached.

Google Wallet Policy Reversed [Source][Source][Source][Source]

Google has scrapped its plan to require financial licenses for all crypto wallets on the Play Store after industry backlash.

The original policy failed to differentiate custodial wallets, which hold user funds, from non-custodial wallets, where users control their own keys, creating unnecessary burdens for developers.

Experts, including Consensys attorney Bill Hughes, argued the policy contradicted existing guidance from regulators like FinCEN.

Pressure from advocacy groups and developers pushed Google to reverse course, a win for the crypto industry that ensures self-custody wallet developers avoid custodial-level regulations.

💡 Feature of the Day: 

BtcTurk Suspected Hack [Source][Source]

Turkish exchange BtcTurk halted crypto deposits and withdrawals after detecting unusual activity in its hot wallets, with reports pointing to a $48 million loss.

Cybersecurity firm Cyvers flagged suspicious transactions across multiple networks, with assets moved to two addresses and swapped.

Trading and local currency transactions remain unaffected, and the exchange emphasized most funds are in secure cold wallets.

Authorities have been notified, and investigations are ongoing, with security measures implemented to prevent further breaches.

😂 Crypto Meme of the Day: 

Meme of the day provided by @99bitcoins

And that’s it for this today.

See you all tomorrow’s edition!


Jonathan Gibson
UseTheBitcoin.com