In partnership with

Good Morning Crypto Enthusiasts!

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

1. ETH Dev Arrested in Turkey: Ethereum developer “Fede’s Intern” was detained in Izmir over alleged Ethereum “misuse,” raising concerns about developer liability.

2. Vitalik Back as ETH Billionaire: Vitalik Buterin’s holdings topped $1.04B as ETH hit $4,332 before settling at $4,244.

3. 💡Feature of the Day - Bo Hines Leaves White House Role: White House Crypto Council chief Bo Hines is stepping down after spearheading stablecoin regulation efforts.

   
   All this and more in today’s headlines!

Take a Swing at What’s Next in Crypto

When you’re teeing off, you square up your shot for the best drive — the same goes for your financial future.

Our $3 report includes our #1 Coin for the market right now, including a step-by-step guide on how to trade it.

Learn to manage risks, make smarter plays, and aim for better outcomes.

Access The Report Now

📰 News Highlights:

ETH Dev Detained [Source][Source][Source][Source][Source]

An Ethereum developer known as “Fede’s Intern” has been detained in Izmir, Turkey, on vague accusations of aiding in the “misuse” of Ethereum.

The arrest has sparked concerns within the blockchain community about the legal vulnerability of infrastructure developers.

Supporters have drawn parallels to Tornado Cash co-founder Roman Storm’s recent conviction for operating an unlicensed money-transmitting business, raising questions about developer liability.

“Fede’s Intern” denied wrongdoing, stating he and his team are “just infrastructure builders” and ready to cooperate with authorities.

The developer reported being treated well, with private accommodations and meals while possibly arranging to return to Europe for his legal defense. Prominent Ethereum and Solana figures have offered legal support and demanded due process.

🎁Freebie:

Download your free ebook now and take the first step toward mastering CRYPTO IN UNDER 60 MINS!

Vitalik’s Billion-Dollar Return [Source][Source][Source][Source][Source]

Ethereum co-founder Vitalik Buterin has regained on-chain billionaire status after ETH surged past $4,000, reaching a six-month high of $4,332 before settling near $4,244.

Blockchain analytics firm Arkham estimates his holdings at approximately $1.04 billion, consisting mainly of 240,042 ETH and smaller positions in tokens like AETHWETH and WETH.

Rising ETF inflows, with $461 million going to ETH-based products compared to $404 million for BTC, are boosting optimism for continued gains.

Analysts warn that a push toward $4,500 could trigger $1.35 billion in short liquidations.

Vitalik first reached billionaire status in May 2021 when ETH crossed $3,000, but has since seen fluctuations in net worth as crypto markets shifted.

He has stated that he has never owned more than 0.9% of ETH’s total supply.

💡 Feature of the Day: 

Bo Hines Exits [Source][Source][Source]

Bo Hines, Executive Director of President Trump’s White House Crypto Council, is stepping down to rejoin the private sector after leading significant policy efforts, including the GENIUS Act for stablecoin regulation.

Appointed in December 2024, Hines helped shape U.S. crypto policy and positioned the nation as a leader in digital asset regulation.

His resignation, confirmed on August 9, comes at a pivotal time for evolving crypto frameworks.

Deputy Director Patrick Witt is expected to take over as the Council’s new leader. Hines’ work leaves a foundation for advancing stablecoin regulation and exploring AI-crypto integration.

While stepping back from daily responsibilities, Hines may continue contributing as a special government employee.

😂 Crypto Meme of the Day: 

Meme of the day provided by @kirtash93

And that’s it for this today.

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com