Everything web3, crypto, defi, degen
In brief Hong Kong’s stablecoin licensing regime takes effect today, requiring fiat-referenced issuers to obtain HKMA approval. It comes shortly after the U.S. passed the GENIUS Act, sparking comparisons between the two approaches. Analysts say adoption may be slow in local retail, but firms eye international and B2B applications. Hong Kong officially introduced its long-awaited…
In brief Newly formed company The Ether Machine has purchased 15,000 Ethereum (ETH) at a cost of $56.9 million, bringing its ETH holdings to $1.28 billion. This makes it one of the largest ETH treasuries, just behind Bitmine Immersion Tech and SharpLink Gaming and ahead of the Ethereum Foundation. Investors are increasingly looking to invest…
The Securities and Exchange Commission has approved in-kind creations and redemptions for crypto-based exchange-traded funds, according to a blog post published on Tuesday.Previously, spot Bitcoin and Ethereum ETFs approved by the regulator were limited to creations and redemption on an in-cash basis, preventing investors from exchanging shares of an ETF for its underlying tokens or…
In brief CoinDCX CEO Sumit Gupta denied reports that Coinbase is in talks to acquire the exchange, calling the claims “rumors.” The news comes after CoinDCX was hacked for $44.2 million hack on July 18, prompting the exchange to launch a bounty program. Coinbase, already FIU-registered in India, is eyeing deeper expansion as it allegedly…
In brief The Pentagon has awarded $50 million contract to Auterion for 33,000 AI drone strike kits for Ukraine. The Kits turn commercial drones into autonomous weapons. Experts say autonomous commercial drones are a growing part of modern warfare. The Pentagon has awarded a $50 million contract to Swiss defense software firm Auterion to deliver…
In brief Z.ai’s GLM-4.5 and Air models leapfrog Western AIs, hitting No. 3 globally in industry tests. The startup, blacklisted by Washington, raised $1.5B as Chinese state funds pile in. New models are open-source, super-efficient, and cost a fifth of Western rivals to use. Beijing-based Z.ai, recently added to the U.S. Entity List and backed…
Software firm turned Bitcoin treasury company Strategy has been buying Bitcoin for more than five years, pioneering the growing trend of publicly traded firms that are adding cryptocurrencies to their balance sheets.What started as a way to “maximize long-term value for shareholders” has transformed into an industry-shifting paradigm that has been further fueled by greater…
In brief Pump.fun’s PUMP token has crashed more than 60% since its launch, following a $600 million iCO. The meme coin launchpad’s co-founder has said there’s no airdrop coming any time soon, which only intensified the sell pressure. What do the charts say? It’s not looking good. The crypto market’s risk-on sentiment has done little…
In brief Publicly traded Tron uses a communal office space as its principal place of business. The space is still reserved under the company’s former name, SRM Entertainment. Justin Sun rang the Nasdaq’s opening bell in New York earlier this week. At Tron’s principal place of business in Winter Park, Florida, there are no apparent…
In brief Block on Wednesday joined the coveted S&P 500. Its payments company, Square, started rolling out a Bitcoin accepted feature. Owen Jennings, said on Tuesday that Block’s point-of-sale payment company, Square, was onboarding customers for “the new native Bitcoin acceptance experience.” Jack Dorsey’s Block (XYZ) has started adding the first customers for its Bitcoin…
