[Bitpush Daily News Selection] Reuters: Bullish plans to expand IPO size and raises target valuation to $4.82 billion; fintech giant Stripe is collaborating with crypto VC Paradigm to develop the "Tempo" Blockchain; Terraform co-founder Do Kwon may soon plead guilty in U.S. fraud case; Trump team includes Bowman, Jefferson, and Logan among candidates for Fed chair.

Daily selected Web3 news brought to you by the Bitpush editor:

[Reuters: Bullish plans to expand IPO size and raises target valuation to $4.82 billion]

According to Bitu's news and a report from Reuters, the cryptocurrency trading platform Bullish, backed by Peter Thiel, has expanded its initial public offering (IPO) size, now targeting a valuation of up to $4.82 billion. This is a significant increase from last week's target of $4.2 billion, reflecting a sudden surge in market enthusiasm for digital assets.

Stripe, the fintech giant, is collaborating with crypto VC Paradigm to develop the "Tempo" blockchain.

According to Bitu News and a report by Fortune, fintech giant Stripe is secretly developing a new blockchain called "Tempo" in collaboration with crypto venture capital firm Paradigm.

According to a now-removed job posting, Tempo is a "high-performance, payment-focused Layer 1 blockchain" with a current team size of five, and it is compatible with Ethereum's programming languages. This move marks a further step for Stripe in the field of crypto payments, having previously invested $1.1 billion to acquire stablecoin infrastructure company Bridge and purchased crypto wallet developer Privy.

Patrick Collison, the CEO of Stripe, has publicly stated that as technology matures, there is a significant increase in interest from businesses in stablecoins. By launching its own blockchain, Stripe will be able to control the core technology stack for stablecoin transaction processing, thereby occupying a more important position in the increasingly hot stablecoin market. Both Stripe and Paradigm declined to comment on this news.

[Terraform co-founder Do Kwon may soon plead guilty in U.S. fraud case]

According to Bituo News and The Block report, after years of US prosecutors accusing Terraform Labs co-founder Do Kwon of fraud and money laundering, he may plead guilty.

In an order scheduling a hearing submitted to the Southern District Court of New York on Monday, Judge Paul Engelmayer ( wrote: "The court has been informed that the defendant may change their plea." The judge stated in the order: "...the defendant should prepare a narrative statement covering all the elements of the offenses to which the defendant is pleading guilty." A meeting to discuss this matter is scheduled for Tuesday morning Eastern Time.

In March 2023, Do Kwon was charged with conspiracy to commit fraud, commodity fraud, telecommunications fraud, securities fraud, conspiracy to commit fraud, as well as involvement in market manipulation and money laundering. He stated in January this year that he would plead not guilty, and his attorney has not yet responded to requests for comment.

[Trump's team includes Bowman, Jefferson, and Logan as candidates for Federal Reserve Chair]

According to reports from BitPush, two U.S. government officials have revealed that Federal Reserve Vice Chairs Bowman and Jefferson, along with Dallas Fed President Logan, are considering taking over the position when the chair of the Federal Reserve becomes vacant next year. Treasury Secretary Bentsen, who is responsible for the selection, stated that he will interview more candidates in the coming weeks. Officials have indicated that Trump is expected to make a final announcement this fall. Sources say that other candidates still under consideration include Trump economic advisor Kevin Hassett, Fed Governor Waller, economist Mark Zandi, and former Fed officials Kevin Warsh and James Bullard. Last week, Trump nominated Stephen Moore, chairman of the White House Council of Economic Advisers, to fill the Fed governor position. Officials noted that since Moore's nomination has been submitted for Senate confirmation, Trump’s team believes there is no rush to find a new chair.

【Market News: Coinbase Ventures purchases TON tokens from Telegram】

According to Bitu news, market sources reveal that an executive from the TON Foundation disclosed that Coinbase Ventures purchased TON tokens directly from Telegram.

Reminder to users: This message has not yet been officially confirmed by Coinbase Ventures and is for reference only.

[Uniswap Foundation plans to adopt Wyoming DUNA framework to promote protocol fee mechanism]

According to Bitpush news, there is a plan to allocate $16.5 million worth of UNI to settle past tax and legal defense budgets. The new entity does not change the Uniswap protocol, tokens, or governance structure, and the revenue from fees cannot be directly distributed to UNI holders.

[Stablecoin issuer Paxos applies for a trust bank license from the US Office of the Comptroller of the Currency]

According to reports, stablecoin issuer Paxos has stated that it is applying for a trust bank charter with the Office of the Comptroller of the Currency and plans to open an office in the United States to expand its regulated financial services.

【Fundamental Global: The amount of ETH held has reached 47,331 coins】

According to BitPush news, Nasdaq-listed company Fundamental Global announced that it has used all of the net proceeds from its previous $200 million private placement to purchase ETH. As of 6:30 PM ET on August 10, 2025, its ETH holdings reached 47,331 coins, with an average purchase price of $4,228.40.