[LIVE] Crypto News Today, Aug 20, 2025: Ethereum Falls Below $4.1K, Bitcoin Holds $113K

The crypto market is showing bearish signal today, with nearly all major sectors posting steep losses. Overall market sentiment has slumped as tokens across the board fell between 2% and 6% in the past 24 hours. Ethereum (ETH) dropped 4.79% to slip under $4,100, while Bitcoin (BTC) slid 2.69% below $113,000. The PayFi sector, which showed strength yesterday, crashed 5.65%, led by sharp declines in XRP (-5.52%) and Telcoin (-7.17%). Other sectors, including CeFi, Layer1, Layer2, and DeFi, also posted heavy declines, though some tokens like OKB (+5.76%), and Mantle (+5.51%) managed to buck the trend.

But what else is happening in crypto news today?                    

US Spot Bitcoin ETFs See $523M Outflows, Ethereum ETFs Shed $422M

US spot crypto ETFs faced heavy redemptions on August 19, with Bitcoin products recording $523.3 million in outflows, led by Fidelity’s FBTC at $246.9 million. Ethereum ETFs also struggled, posting $422.2 million in outflows, with Fidelity’s FETH bleeding $156.3 million alone.  

Trump-Linked Crypto Firm Thumzup to Take Over Dogecoin Mining Operation                                              

Thumzup Media, a company with ties to the Trump family, is set to acquire Dogehash Technologies in an all-stock deal that aims to create the world’s largest Dogecoin mining platform.

The Nasdaq-listed firm announced Tuesday that Dogehash shareholders will swap all of their holdings for 30.7m shares of Thumzup.

Once the deal closes, the combined company will be renamed Dogehash Technologies Holdings and trade under the new ticker XDOG.The transaction is expected to be finalized in the fourth quarter, pending shareholder approval and regulatory clearance.

Core Foundation, Hex Trust to Offer Institutional BTC Staking in Asia-Pacific and Middle East

Core Foundation has announced a strategic partnership with digital asset custodian Hex Trust to bring Bitcoin staking services to institutional investors. By integrating Core’s dual staking into Hex Trust’s licensed custody platform, the collaboration enables institutions to earn on-chain rewards with BTC and CORE tokens without transferring or selling their Bitcoin. The move aims to provide a secure, compliant yield channel for institutional clients across Asia-Pacific and the Middle East, while accelerating growth in the emerging BTCFi ecosystem.