Category: crypto

Keel Infrastructure has closed all U.S. Bitcoin mining operations to focus on artificial intelligence and high performance computing data centers. Q2 revenue dropped by 50% to $30 million, with a net loss of $65 million. The company sold 1,085 BTC for $75 million and plans to liquidate all Bitcoin holdings by 2026.

Pump.fun generated $10.03 million in weekly protocol fees, marking a 12% increase from the previous week. The platform also bought back and burned $5.02 million worth of tokens. DefiLlama data shows Pump’s revenue at $35.67 million over 30 days, surpassing Hyperliquid’s $32.46 million. PUMP traded near $0.0028, up 33.8% weekly.

Trump Media & Technology Group reported a $238.1 million net loss in Q2 due to falling digital asset and securities valuations. The company plans to revamp its digital asset treasury management framework to reduce volatility. It holds 14,139 BTC and terminated a planned CRO treasury venture. Revenue rose 89% to $1.67 million.

TRON processed $2.1 trillion in USDT transfers during Q2, reaching a record $87.9 billion in stablecoin supply. Network fees increased by 15.9%, and TRON became the largest host chain for circulating USDT. Bitnomial launched TRX futures, Canary amended its staked TRX ETF filing, and USDT supply surpassed $90 billion after Q2.

The White House remains committed to passing the CLARITY Act in September, with Senate leaders scheduling a cloture vote on September 15. Despite unresolved issues with ethics rules, stablecoin rewards, and money laundering safeguards, negotiations with Democrats continue. The SEC is also proposing new rules for certain crypto assets.

Bitcoin BIP Editor Murch called for the removal of Luke Dashjr from the editorial team due to a dispute over BIP110 and a recent chain split. Dashjr denied the allegations, while some contributors supported his removal. The dispute remains unresolved, with questions surrounding BIP110 and Dashjr’s editorial access.

Guren “Bobby” Zhou, behind Aqua 1’s $100 million purchase of WLFI tokens, is linked to a British money laundering investigation after his 2021 arrest but has not been charged. The source of the $100 million remains unclear, with part going to a Trump entity. World Liberty investments have faced congressional scrutiny.

Former U.S. Defense Secretary Mark Esper called for the passage of the CLARITY Act, emphasizing its importance as a national security bill. The bill aims to address digital asset market structure and expand Treasury authority over digital asset transfers. The Senate is set to vote on the bill on September 15.

Cryptolink’s 96 Bitcoin ATMs in Australia have been suspended for three months due to compliance concerns, including failures in transaction reporting. The Australian financial intelligence agency, AUSTRAC, had previously imposed penalties on Cryptolink for similar issues. The country has tightened controls on crypto ATMs due to risks of scams and money laundering.

UMX, incubated by Avenir Group, launched an invitation-only beta on Aug. 10 for professional investors. The platform combines crypto trading with access to real U.S. stocks, ETFs, and options. Users can convert USDT into dollars or borrow against crypto for securities purchases. Avenir holds a large Bitcoin ETF position on UMX.