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Proof of Play Shuts Down After Failing to Scale Web3 Gaming
Proof of Play, the blockchain gaming studio backed by a16z, announced it will cease operations after failing to build a sustainable commercial model. The closure marks a significant setback for the studio, which raised $33 million in 2023 to pioneer onchain gaming through its flagship title, Pirate Nation.
Bitwise: Crypto Industry Growth Remains Resilient Without CLARITY Act
The crypto industry will continue its expansion regardless of whether the U.S. Senate passes the CLARITY Act before the upcoming recess. Bitwise Chief Investment Officer Matt Hougan argues that while the legislation remains stalled in procedural limbo, alternative paths for regulatory clarity are already emerging through the Securities and Exchange Commission.
Missouri Trio Charged in Connecticut Bitcoin Home Invasion Plot
Three St. Louis men traveled to Connecticut armed with air rifles and walkie-talkies, allegedly surveilling a family’s home for two days to force a Bitcoin transfer. Federal prosecutors now charge Sedric Louis, John Davis, and Martel Williams with conspiracy to commit a Hobbs Act robbery, an offense carrying up to 20 years.
Western Union pivots to stablecoin spending with new Visa card
Western Union has launched a Visa-backed card enabling customers to spend its proprietary USDPT stablecoin directly at 175 million merchant locations. The rollout, powered by infrastructure firm Rain, arrives as the remittance giant seeks to offset declines in its traditional retail business by accelerating its digital service expansion.
Polymarket Eyes $20 Billion Valuation in New Funding Round
Polymarket has entered preliminary discussions with investors to raise roughly $1 billion, a move that would push the prediction market’s valuation past the $20 billion threshold. The talks, first reported by Bloomberg, signal an aggressive expansion strategy as the firm navigates a complex regulatory landscape and stiff competition.
Arthur Hayes bets on AI credit crunch to fuel Bitcoin bull run
BitMEX cofounder Arthur Hayes is positioning Bitcoin as the ultimate hedge against a potential AI-induced credit collapse. In his latest essay, "Situationship," Hayes argues that the massive capital expenditure currently pouring into data centers mirrors the 2008 real estate bubble, creating a fragile debt-laden foundation rather than a simple equity market correction.
Padilla Proposes Ban on Paid Early Access to Presidential Social Media
Senator Alex Padilla introduced the Stop Corrupt Trading Act on Tuesday to prevent President Donald Trump, Vice President JD Vance, and future officeholders from selling exclusive, advance access to social media posts that could influence financial markets, labeling the practice a systemic abuse of public office for private enrichment.
Supreme Court Extends Mifepristone Access Amid Ongoing Legal Battle
Justice Samuel Alito extended a stay until Thursday evening, temporarily preserving access to mifepristone by mail and telehealth. While the ruling offers immediate relief for patients, reproductive rights advocates warn that the reprieve is fragile and underscores a broader, persistent campaign against medication abortion access across the United States.
Susan Collins Breaks With GOP Over Todd Blanche Nomination
Facing a challenging reelection campaign in Maine, Republican Senator Susan Collins announced Tuesday that she will oppose the confirmation of Todd Blanche as attorney general. Her break from the party line comes as the nominee faces intense scrutiny over his stated plans to restrict abortion access nationwide.
Platner Escalates Attack on Collins Over Reproductive Rights Record
Democratic challenger Graham Platner is targeting Republican Senator Susan Collins for her absence from key reproductive healthcare hearings, marking a sharp escalation in his Maine campaign. The criticism follows revelations that the five-term senator has consistently skipped Senate committee meetings focused on abortion since the Supreme Court overturned Roe v. Wade.
US and UK Align Stablecoin Standards Amid Regulatory Shift
Financial regulators from Washington and London have intensified collaboration on digital asset oversight, signaling a push for policy convergence as the United States transitions toward implementing the GENIUS Act. The 13th UK-US Financial Regulatory Working Group meeting in London focused on harmonizing stablecoin frameworks and cross-border market access.
Senators Press CFTC to Ban Betting on Destructive Wildfires
A coalition of Democratic senators is demanding that federal regulators prohibit prediction markets from offering financial contracts tied to wildfires. The lawmakers warn that wagering on extreme weather events creates perverse incentives, potentially encouraging arson and commodifying human suffering during disasters that have already claimed dozens of lives.
SpaceX Bets on NVIDIA Vera Rubin for Orbital AI Constellation
SpaceX has tapped NVIDIA to power Starmind, an ambitious orbital network designed to process artificial intelligence workloads directly in space. The partnership centers on the Vera Rubin platform, a hardware suite engineered to handle the extreme power and weight constraints of satellite operations while delivering massive compute capacity.
A presidential memecoin stalls the US crypto bill
The Digital Asset Market Clarity Act, intended to provide the industry with long-awaited regulatory guardrails, has hit a political wall. The legislation remains frozen in Congress as lawmakers clash over whether to include ethics provisions that would restrict the president from profiting from his own crypto token while in office.
Senate Democrats threaten to block CLARITY Act over policy disputes
Senate Democrats are signaling a refusal to support a cloture vote on the CLARITY Act, jeopardizing the bill’s path forward. Lawmakers demand concrete concessions on ethics, illicit finance, and stablecoin yield provisions, effectively stalling the legislation as the window for action narrows before the upcoming August recess.
SpaceX’s Bitcoin Bet Overshadows Record Earnings
SpaceX’s first public earnings report revealed a $540 million loss on its bitcoin holdings, a figure that effectively neutralized the company's strong operational performance. While revenue soared to $7.8 billion—surpassing Wall Street expectations by $900 million—the massive crypto write-down forced a revaluation of the stock by nervous investors.
CLARITY Act stalls as Senate prioritizes government funding
With the August recess looming, the Digital Asset Market Clarity Act (H.R. 3633) failed to secure a spot on the Senate’s Tuesday agenda. The omission leaves the bill without a necessary cloture motion, forcing the crypto industry to wait as leadership prioritizes a continuing resolution to fund the government.
Campaigners Press UN to Secure Trillions in Global Tax Treaty Talks
As negotiators gather in New York for the fifth round of UN tax treaty talks, economic justice advocates warn that current draft language risks failing to capture trillions in potential revenue. Campaigners argue that without stronger provisions, the treaty will miss a historic chance to curb corporate excess and climate damage.
The Brutal Math Behind Every Meme Coin
While social media narratives frame meme coins as unpredictable cultural phenomena, their life cycle is dictated by cold, mechanical arithmetic. On platforms like Pump.fun, a specific pricing formula known as a bonding curve ensures that the vast majority of tokens never reach a public exchange, creating a structural transfer of wealth from latecomers to early insiders.
Warren: Trump’s DC National Guard Presence to Cost $1.4 Billion
The continued deployment of the National Guard in Washington, DC, is expected to drain an additional $1.4 billion from taxpayers through the end of President Donald Trump’s term in January 2029. The figure comes from projections provided to Senator Elizabeth Warren by the administration's own defense comptroller nominee.
BNY Integrates Galaxy Infrastructure for Institutional Crypto Staking
BNY is integrating Galaxy’s staking infrastructure into its digital asset custody platform, a move designed to streamline how institutional clients manage proof-of-stake assets. By merging safekeeping with staking workflows, the bank aims to reduce the operational friction typically associated with maintaining separate service providers for digital portfolios.
SpaceX Earnings Test Investor Patience Amid AI Pivot
As SpaceX prepares to publish its first quarterly earnings as a public company, investors are looking past an anticipated $1.9 billion loss to gauge the firm’s long-term viability. The results, arriving after a 50% stock plunge from its IPO peak, will hinge on whether Starlink revenue can bankroll the company’s high-stakes AI infrastructure.
Wells Fargo to Launch Blockchain-Based Tokenized Deposits
Wells Fargo will introduce tokenized deposits this fall, offering corporate clients the ability to settle funds across borders outside of traditional banking hours. The pilot program, initially supporting transactions between U.S. dollars and British pounds, signals a shift toward 24/7 programmable payments within a regulated, blockchain-based framework.
Campaigners Challenge Trump to Back Windfall Tax on Oil Giants
After Donald Trump criticized oil majors for capturing excessive profits during the ongoing conflict with Iran, climate activists are pushing the president to move beyond rhetoric. They argue that if the White House truly believes companies like ExxonMobil and Chevron are overcharging, it must support legislation to tax those windfall gains.
Senate Democrats and Watchdogs Mount Last-Ditch Effort to Block Blanche
With the Senate Judiciary Committee voting along party lines to advance Todd Blanche’s nomination, a coalition of Democrats and advocacy groups is now pressuring the full chamber to reject the acting attorney general, citing his history as Donald Trump’s personal lawyer and concerns over his commitment to institutional independence.
Ethereum Researchers Propose Capping Staking Rewards
A new draft proposal, EIP-8361, aims to phase out Ethereum validator rewards once 50% of the total circulating supply is staked. By introducing a 'Tapered Issuance Burn,' the mechanism seeks to prevent excessive dilution of the network's native token while curbing perpetual incentives for further staking deposits.
CBS Edits 60 Minutes Interview to Shield Trump from Corruption Questions
CBS News has come under fire for heavily editing an online version of a 60 Minutes interview, stripping out a tense exchange where anchor Norah O'Donnell pressed President Donald Trump on potential corruption regarding his family's massive cryptocurrency profits and his recent pardon of Binance founder Changpeng Zhao.
Gaza Buries 112 Victims of 2023 Sabra Neighborhood Airstrike
Mourners gathered in Gaza City on Tuesday to bury 112 Palestinians, including 40 children, whose remains were recovered from the ruins of a residential block destroyed by an Israeli airstrike in November 2023. The service highlighted the ongoing struggle to account for the hundreds still missing beneath the territory's rubble.
Epstein Files Law Faces Scrutiny Over National Security Loopholes
President Donald Trump signed the Epstein Files Transparency Act into law this Wednesday, mandating the release of FBI records on the late sex trafficker. Despite the bill’s intent, critics argue that broad redaction powers granted to the Department of Justice could effectively shield the powerful from public accountability.
Raskin Demands Answers on $1.5 Billion in Epstein-Linked Transactions
Representative Jamie Raskin has issued formal demands to the CEOs of four major financial institutions, seeking records regarding over $1.5 billion in suspicious transactions tied to Jeffrey Epstein’s sex trafficking operation. The move follows claims that federal investigators have failed to adequately track the illicit funds.