Major cryptocurrencies rose slightly on Thursday, August 8, after Ripple Labs Inc. was ordered to pay a $125 million fine, BlockBeats reported. Bitcoin rose as much as 4.5% to over $57,600, and Ethereum rose nearly 5% at one point. Despite this, both tokens are still far below their levels a week ago.

Meanwhile, a sell-off in global stock markets intensified, reflecting concerns about the economic outlook and tensions in the Middle East, as well as fears that big bets on artificial intelligence may fail to deliver expected returns.