Category: crypto

The federal appeals court has upheld Sam Bankman-Fried’s fraud conviction, 25-year prison sentence, and $11 billion forfeiture order. The court rejected claims that FTX’s asset recovery weakened the case. Bankman-Fried’s remaining options are a Supreme Court petition or presidential clemency. The Second Circuit formally affirmed the judgment and closed the appeal.

Circle stock gained after Bernstein reaffirmed its Outperform rating and $140 target, citing Q2 results challenging bearish views. Revenue reached $701 million, below estimates but showing growth. USDC circulation hit $73.3 billion. Arc mainnet launch on Sept. 16 with institutional validators expected. Bernstein sees long-term potential in Circle’s growth and diversification efforts.

MetaMask has launched Agent Wallet, a self-custodial product that allows AI agents to execute on-chain transactions within user-set limits. It supports transactions across EVM-compatible networks and Hyperliquid. Users can set spending caps, protocols, and risk settings. Transactions are protected up to $10,000 per month. Agent Wallet aims to give users control over AI agents’ access…

Michael Saylor used ChatGPT to develop a preferred stock financing model that helped Strategy raise $15 billion for its Bitcoin-focused balance sheet. Saylor emphasized the importance of using AI to enhance human abilities rather than compete with automation. Strategy also sold BTC to fund dividends and repurchase shares, showing flexibility in managing its Bitcoin holdings.

Rarible has launched its NFT marketplace on Solana after months of development, featuring Claynosaurz as the first collection. The expansion aims to attract Solana-native creators and collectors with lower fees and faster settlements. As EU lawmakers consider clearer NFT regulations, Rarible plans to gradually add more collections and features to its Solana marketplace.

Canaan has authorized the sale of part of its Bitcoin and Ethereum holdings to finance share repurchases under a $30 million program. The company’s crypto treasury was worth about $130 million as of Aug. 3, with 1,915 BTC and 3,952 ETH. Canaan aims to improve mining efficiency and address Nasdaq compliance risks.

Binance is suing RedotPay and its co-founders for almost $473 million, claiming they diverted over 470,000 Binance Card users in violation of a commercial agreement. RedotPay denies the allegations and plans to continue operations while defending the claims in court. The legal dispute arises as RedotPay pursues a potential U.S. IPO.

Prediction markets are now projecting that the CLARITY Act will not be enacted until 2027, with Senate leaders failing to initiate the procedural process for a vote before the August recess. Traders have shifted their expectations, with odds of the bill taking effect before July 2027 decreasing and now standing at 41%.

ZIGChain has received a strategic investment from Laser Digital to enhance institutional investment products onchain. Laser Digital will provide risk governance for ZIG Markets products with a target of $100 million in total value locked. The partnership aims to offer private credit, PayFi, invoice financing, SME funding, and stablecoin services onchain.

Ondo Finance has appointed former Blockchain.com executive Adam Schlisman as its chief financial officer as the company expands its institutional business. Schlisman will oversee financial operations and build infrastructure for tokenized capital markets. Ondo continues to introduce new products and infrastructure while pursuing institutional partnerships in traditional finance and digital assets.