Bitcoin’s taken a wild ride, plunging below $118,000 after a spicy U.S PPI report fanned inflation fears. PPI inflation hit 3.3% yearly, way above the 2.5% guess and last month’s 2.3%. Biggest jump since June 2022
BTC briefly touched $124,000 and even surpassed the market cap of Google. CPI data was released recently and the numbers were lower than expected. This ignited the hope for a fed rate cut. However with the PPI data for July, 2025 has doused the hopes for a rate cut.
Coinbase Finalized Acquisition Of Deribit
Coinbase Global, Inc. finalized its acquisition of Deribit, the world’s leading crypto options exchange, on August 14, 2025, for $2.9 billion.
This acquisition enhances Coinbase’s portfolio, which now includes a perpetual futures platform, prime brokerage, spot retail trading, institutional lending, and asset custody services
The deal, first announced in May 2025, included $700 million in cash and 11 million shares of Coinbase Class A common stock. Deribit, known for handling over $1 trillion in trading volume in 2024, boasts a strong following among institutional and advanced traders.
Coinbase has acquired 6 firms in 2025 alone.
- Spindle (January): A blockchain-based advertising platform that boosts content creators’ online visibility.
- Roam team (January): Developers of a blockchain-powered online browser.
- Liquifi (July): A platform supporting early-stage token startups.
BONK, PEPE & Major Solana Based Memes Slumped
On August 14, 2025, Pepe (PEPE) experienced a slump, with its price falling. It saw a significant 24-hour decline, with some sources reporting a drop of over 11%. The price fluctuated between a high of around $0.0000126 and a low of around $0.0000109.
A Nasdaq-listed firm’s plan to invest heavily in BONK led to a significant 50% drop in the company’s stock, suggesting a negative market reaction to the meme coin’s treasury play.
TRUMP & FARTCOIN also declined by 4.16% and 5.25% in the last 24 hours. The overall market cap of SOL based meme coins slumped by 7.98%. (source: Coingecko)
