Cryptocurrency
US Prosecutors Move to Drop BitClub Fraud Case Against Founder
The U.S. Department of Justice has requested to dismiss its criminal case against BitClub Network founder Matthew Goettsche, effectively halting a prosecution involving an alleged $722 million cryptocurrency fraud. This shift follows a recent internal directive aimed at curbing the practice of regulation through litigation within the digital asset industry.
Backpack Opens 24/7 Global Access to Tokenized US Equities
Backpack has debuted a 24/7 trading platform for tokenized US stocks, granting international investors direct ownership of equities like SpaceX and Micron. By moving away from synthetic derivatives, the exchange offers instant settlement in fiat or stablecoins, bypassing the traditional constraints of Wall Street’s standard operating hours.
Kraken deploys AI assistant to shift crypto trading toward goals
Moving away from complex order books and technical charts, Kraken has introduced an AI-powered assistant designed to translate financial objectives into personalized investment strategies. The platform tracks market conditions and suggests trades, though it leaves final execution in the hands of the user to ensure human oversight remains constant.
South Korea Launches First State-Backed Stablecoin Pilot
Gyeonggi Province is set to launch South Korea’s first government-backed stablecoin pilot this August, marking a pivot toward integrating blockchain into public financial administration. The eight-month proof-of-concept, led by security firm ZKrypto, aims to modernize regional currency distribution and government disbursements through February 2027.
OpenAI and Google Face Scrutiny Over Blacklisted Chinese AI Access
OpenAI and Google have reportedly provided access to advanced AI models to companies appearing on the Pentagon’s Section 1260H blacklist. This list identifies entities tied to China’s military-industrial complex, sparking urgent questions about the effectiveness of U.S. export controls on cloud-based artificial intelligence technology.
Bitcoin crosses $64,000 as U.S.-Iran diplomatic channels remain open
Bitcoin surged past $64,000 following a confirmation from President Donald Trump that the United States has agreed to resume talks with Iran. Despite the formal end of a recent ceasefire, the willingness of both nations to maintain communication provided enough stability to fuel a recovery in digital asset markets.
Trump withholds signature on housing act as CBDC ban nears law
President Donald Trump has refused to sign the 21st Century ROAD to Housing Act, citing the Senate’s failure to pass the Save America Act. Despite this defiance, the housing legislation is set to become law automatically, as the White House confirmed the president will not issue a formal veto.
Standard Chartered Reaffirms $100,000 Bitcoin Target
Bitcoin has surged back above $64,000 as Standard Chartered dismissed recent market volatility linked to Strategy’s treasury shifts as temporary noise. The bank maintains its $100,000 price target for late 2026, arguing that the recent selloff stemmed from investor misunderstanding rather than any fundamental flaw in the cryptocurrency’s long-term trajectory.
Warren pushes for ethics probe into Trump’s crypto holdings
Senator Elizabeth Warren and four Democratic colleagues are demanding formal hearings into President Donald Trump’s cryptocurrency interests before the Senate advances the CLARITY Act. Citing $1.4 billion in reported income, the group argues that these financial ties create significant conflicts of interest that require immediate legislative oversight.
Marc Andreessen tapped to lead Federal Reserve AI task force
The Federal Reserve has appointed venture capitalist Marc Andreessen to co-lead a new task force investigating the intersection of artificial intelligence, labor productivity, and employment. This initiative, part of a broader policy review by Fed Chair Kevin Warsh, seeks to determine how emerging technologies shape future economic output.
Ledger researchers expose physical vulnerability in Tangem wallet cards
Security experts at Ledger’s Donjon team have demonstrated a hardware-based attack capable of resetting Tangem wallet passwords. By deploying precise laser pulses against the card’s secure element, researchers bypassed authentication protocols, though the process requires specialized laboratory equipment valued at approximately $250,000 and direct physical access to the device.
Wall Street Banks Curb Employee Activity on Prediction Platforms
Goldman Sachs, JPMorgan Chase, and other major financial institutions are imposing strict new bans on employee participation in prediction markets. These measures aim to mitigate risks of insider trading and conflicts of interest, as regulators and internal compliance teams heighten scrutiny over the use of confidential data on platforms like Polymarket.
Tokyo Lender CRYL Launches Bitcoin-Backed Loans Up to $6.2 Million
Borrowers in Japan can now access yen liquidity without liquidating their crypto holdings, as Tokyo-based CRYL introduces a new lending service accepting Bitcoin as sole collateral. The program, which debuted July 9, targets individuals, sole traders, and corporate clients seeking capital for business expansion, property acquisition, or personal expenses.
TeraWulf Targets $3.5B Debt to Fuel Anthropic AI Campus
With eyes on a major pivot from Bitcoin mining to high-performance computing, TeraWulf is preparing a $3.5 billion debt raise to bankroll a massive AI facility in Kentucky. The campus, set to serve a 20-year lease for Anthropic, marks a high-stakes transition for the infrastructure operator.
Revolut X Opens Crypto Trading to Third-Party AI Assistants
Revolut has integrated its standalone exchange, Revolut X, with third-party AI platforms, enabling users to manage portfolios and prepare trades via natural-language prompts. While the move streamlines market analysis and order creation, the company maintains a strict requirement for human verification before any transaction is executed on the platform.
New Hampshire Rejects $100 Million Bitcoin-Backed Bond Proposal
By a narrow 3-2 vote, the New Hampshire Executive Council blocked a proposal to issue $100 million in Bitcoin-backed revenue bonds. The decision halts a plan that would have utilized $160 million in cryptocurrency collateral to finance operations for a private borrower connected to the Bitcoin miner CleanSpark.
Metaplanet and JPYC Explore Bitcoin-Backed Credit Products
Metaplanet has launched a joint study with stablecoin issuer JPYC and tokenization firm Progmat to evaluate the feasibility of Bitcoin-backed digital credit. The initiative, dubbed Project Nova, aims to transform the company's massive Bitcoin treasury into collateral for regulated corporate bonds and other blockchain-based financial instruments.
Ethereum Nears $1,800 Threshold as Short Squeeze Fuels Recovery
A sharp reversal in market sentiment has pushed Ethereum back toward $1,800, as cooling geopolitical tensions and a cascade of forced liquidations in derivatives markets encourage traders to rotate back into high-risk assets following a dip to $1,505 earlier this week.
Circle Secures Federal Approval for National Trust Bank
The U.S. Office of the Comptroller of the Currency has granted final approval for Circle Internet Group to establish a national trust bank, marking a significant regulatory milestone for the issuer of the USDC stablecoin as it seeks to integrate blockchain infrastructure into the traditional American financial system.
Crypto Traders Brace for Volatility as $1.75B in Options Expire
With $1.75 billion in Bitcoin and Ethereum options contracts expiring on July 10, institutional investors are signaling a cautious outlook. The expiry, characterized by a heavy demand for downside protection and a $62,000 maximum pain point for Bitcoin, suggests limited confidence in a sustained rally for the digital asset market.
Federal inmate charged with laundering $290K in forfeited crypto
Rossen G. Iossifov, a Bulgarian national currently serving a federal prison sentence, stands accused of siphoning $290,000 in cryptocurrency that had already been ordered forfeited to the U.S. government. Prosecutors allege he orchestrated the illicit transfers from behind bars, utilizing complex mixing services to obscure the movement of assets.
Ethereum Foundation dissolves Protocol Support team in 20% staff cut
The Ethereum Foundation has shuttered its Protocol Support team, marking a definitive end to the group that spent five years coordinating network upgrades and developer fellowships. This move follows a broader organizational restructuring that saw the nonprofit eliminate 54 positions, roughly 20% of its total workforce.
European Parliament revives voluntary chat scanning with encryption carve-out
European lawmakers have approved a temporary framework allowing tech companies to voluntarily scan private communications for child sexual abuse material until 2028, while simultaneously securing a critical exemption for services protected by end-to-end encryption following a contentious July 9 vote.
Former SWIFT Executive Debunks XRP Integration Rumors
Tom Zschach, the former Chief Innovation Officer at SWIFT, has dismissed persistent online speculation suggesting the global financial messaging network intends to integrate the XRP token. Zschach’s intervention follows a wave of unsubstantiated social media reports claiming that SWIFT was pivoting toward the public cryptocurrency for its cross-border settlement infrastructure.
Crypto market faces longest losing streak since 2022
The cryptocurrency market has endured three consecutive quarters of negative returns, a slide not seen since the 2022 bear market. According to a Bitwise review, the Bitwise 10 Large Cap Crypto Index dropped 15.4% in the second quarter of 2026, as spot Bitcoin ETFs suffered their worst outflows since inception.
HSBC Pilots Tokenized Structured Notes in Hong Kong
Institutional investors in Hong Kong have participated in the first blockchain-based issuance of a digitally native structured product by HSBC. The pilot, which utilized U.S. dollar-denominated notes, marks a shift toward leveraging distributed ledger technology to streamline the lifecycle of complex financial instruments from issuance to settlement.
Goldman Sachs Bans Employees from Trading Election and Finance Markets
Goldman Sachs has officially restricted staff from trading prediction market contracts linked to elections, macroeconomic data, and geopolitical events. The move places the investment bank at the forefront of corporate efforts to mitigate insider trading risks as regulators intensify scrutiny of platforms like Polymarket and Kalshi.
North Carolina breaks state deadlock on prediction markets
North Carolina has become the first U.S. state to explicitly validate the Commodity Futures Trading Commission’s authority over prediction markets, carving out a distinct regulatory path. Under Senate Bill 257, signed by Governor Josh Stein, federally registered platforms like Kalshi and Polymarket gain legal standing to operate starting January 2027.
Robinhood Chain Hits $70M in Bridged Ether During Opening Week
Robinhood’s new Arbitrum-based layer-2 network has drawn over $70 million in bridged Ether just seven days after its July 1 launch. This rapid influx highlights the brokerage’s push to position its AI-native blockchain as a central hub for tokenized finance, leveraging Ethereum as its primary settlement and gas layer.
Zcash Sets July 28 Deadline for Ironwood Upgrade
A critical network upgrade arrives July 28 at block height 3,428,143, following a one-week delay. The Ironwood protocol change aims to force an accounting check on all funds exiting the Orchard shielded pool, effectively testing whether a previously disclosed "infinity" vulnerability resulted in the creation of counterfeit ZEC.