Category: crypto

The U.S. Senate unanimously approved a resolution opposing any federal clemency for FTX founder Sam Bankman-Fried, who is currently imprisoned for fraud. The resolution follows Bankman-Fried’s request for a presidential pardon and previous pardons granted to other crypto figures by former President Donald Trump. The resolution is nonbinding but signifies Senate opposition to clemency for…

Vlad.fun, a memecoin launchpad on Robinhood Chain, has suspended operations due to an internal integrity issue involving team members. The platform is offline while investigating and consulting legal counsel. The project has not disclosed details of the misconduct. Memecoin trading has dominated Robinhood Chain’s early growth despite its financial focus.

US inflation fell to 3.5% in June, lower than expected, driven by falling energy prices. Bitcoin rose to $65,000 following the news. Coinbase reported that 95%-100% of their code is now AI-assisted. Core inflation also decreased to 2.6%. Energy prices remained high, but the decline in inflation eased immediate concerns.

Stripe and private equity firm Advent International have made a joint offer to acquire PayPal for over $53 billion. The deal values PayPal at $60.50 per share and includes $50 billion in bank financing. The proposed acquisition aims to combine PayPal’s ecosystem with Stripe’s stablecoin payment infrastructure network.

Pump.fun has distributed 57.279 billion PUMP tokens worth $86.49 million to 121 team and investor wallets after the end of a one-year lockup period. This distribution marks the beginning of a three-year vesting cycle. It remains unclear if recipients will sell the unlocked tokens in the market.

TeraWulf shares dropped over 7% after New York paused new environmental permits for large data centers. The company’s Lake Mariner and Lake Hawkeye projects are unaffected. TeraWulf is expanding its AI business with a $19 billion Anthropic lease. The company is also planning to raise $3.5 billion for a Kentucky AI campus.

Ark Invest has increased its investments in Circle and Block while reducing its position in Robinhood. The firm purchased nearly $13.9 million worth of Circle shares and added to its Block position. They also sold about $3.15 million worth of Robinhood shares. The recent trades follow a pattern of buying stocks after price declines and…

Ripple has burned 10 million RLUSD tokens, reducing the circulating supply of its stablecoin by 20% since May. The burns are part of active treasury management, with redemptions and new issuance changing the available supply. Ripple is expanding RLUSD’s use beyond basic payments, focusing on AI payments and XRP Ledger activity.

EthSystems, backed by Bitmine, SharpLink, and Consensys CEO Joe Lubin, launched to build confidential infrastructure for institutional Ethereum. The company was spun out of the Ethereum Foundation and aims to help financial institutions use public Ethereum without exposing sensitive information. This comes after the Foundation cut 54 roles and reorganized its divisions.

Hyperliquid launched a pre-IPO perpetual market for ChangXin Memory Technologies (CXMT) before its Shanghai debut, offering synthetic exposure to the Chinese chipmaker. The contract price of $8 implies a $535 billion valuation, significantly higher than the IPO price. This allows traders to speculate on CXMT’s performance before its official listing on the STAR Market.