Catenaa, Tuesday, September 02, 2025-Eric Trump reaffirmed his $1 million Bitcoin price prediction during a fireside chat at Bitcoin Asia in Hong Kong, praising China and Hong Kong’s influence on the crypto industry.
Despite China’s ban on institutional crypto trading and mining, the second-eldest son of President Donald Trump highlighted ongoing peer-to-peer activity and Hong Kong’s regulated pilot programs.
He also promoted his ventures American Bitcoin, World Liberty Financial, and Metaplanet, emphasizing long-term Bitcoin holding.
Meanwhile, Ethereum’s onchain activity surged, with monthly volume surpassing $320 billion in August, the highest since May 2021 and third-largest overall.
Increased transaction throughput, DeFi activity, corporate treasury acquisitions, and low network fees fueled the rise. Monthly active addresses reached near-record levels, and total value locked remains close to peak, reflecting heightened ecosystem participation.
IREN, a bitcoin miner, reported $187.3 million in quarterly revenue and $176.9 million in net income, lifting its annualized bitcoin mining revenue above $1 billion.
The company expects $200 million to $250 million in AI cloud revenue by December, leveraging more than 10,000 Nvidia GPUs. IREN’s stock rose 16.3% to $26.80, making it the largest publicly-listed bitcoin miner by market capitalization.
Elsewhere, Eliza Labs sued Elon Musk’s X for alleged anticompetitive actions in AI software, and Pudgy Penguins launched the web3 mobile game Pudgy Party in partnership with Mythical Games, with future token integration planned.
