Author: James Wilson
Binance co-founder Changpeng Zhao has challenged Wall Street’s projected $700 billion AI spending wave by arguing that Bitcoin offers protection against inflation that artificial intelligence cannot provide. Summary CZ argues Bitcoin offers inflation protection that artificial intelligence cannot provide investors. Jamie Dimon expects AI spending to reach $725 billion as investment continues to surge. George Noble warns an AI bubble crash could be 17 times worse than the dot-com collapse. On X, Zhao presented the difference between the two investment themes in a single line: “AI is great, but it does not protect you against inflation. Bitcoin does.” AI is…
Strategy CEO Phong Le has tied the company’s next Bitcoin purchase to STRC returning to its $100 par value as the preferred stock trades near $87. Summary Phong Le linked Strategy’s next Bitcoin purchase to STRC recovering to its $100 par value. Strategy sold 3,588 BTC across two weeks while building its dollar reserve. MSTR faces resistance at $100–$105, with immediate chart support near $90. Bloomberg reported that Le plans to resume issuing STRC shares once the security, known as Stretch, recovers to par, allowing Strategy to direct the proceeds toward more Bitcoin. “We’ll continue to build that. And yeah,…
Ault Capital has developed a Cosmos-based Layer-1 network for tokenized assets and digital settlement after banking disruptions affected businesses under its leadership. Summary Ault Capital linked its new Layer-1 network to banking disruptions faced by its businesses. The Cosmos-based blockchain supports Ethereum smart contracts, tokenized assets, and institutional settlement. Identified participants will govern the network, while tokens will be distributed without a public sale. According to Ault Blockchain, the project seeks to reduce the role of traditional financial institutions in settlement while supporting decentralized trading and other onchain financial applications. The company has positioned the network as infrastructure for compliant…
Polygon Labs has cut another round of jobs as it completes the integration of crypto exchange Coinme, part of a restructuring that the company says is intended to support profitability by 2027. Summary Polygon Labs has reduced its workforce as it completes the integration of Coinme and moves toward a payments focused business model. CEO Marc Boiron said the restructuring is intended to help position the company for profitability by 2027 while expanding through the Coinme merger. The latest cuts extend a multi year restructuring as Polygon continues shifting its focus from blockchain infrastructure to payment services. According to Polygon…
A stablecoin depeg is not one event. It is two very different events that look identical on a price chart, and confusing them is how traders lose money on coins that were never actually broken. Summary A depeg happens when a stablecoin’s market price moves meaningfully away from its target, almost always one dollar, and does not quickly return. Drift of a fraction of a cent is normal and not a depeg. The distinction that matters is between a liquidity depeg, where the exchange price falls but redemption at the issuer still works, and a reserve depeg, where the backing…
South Korean retail investors have reportedly lost about 2.15 trillion won, or roughly $1.45 billion, from leveraged trading over the past month as sharp market swings triggered widespread margin calls. Summary South Korean retail investors reportedly lost $1.45 billion as leveraged positions unraveled during market volatility. Traders in their 20s and 30s represented 62% of accounts facing forced liquidation, reports estimate. Korea’s stock leverage unwind follows a retail shift from crypto into equities during the rally. According to market reports, more than 1.2 million retail leverage accounts had reached margin-call thresholds by July 13. Estimates placed the number of accounts…
Tether has reportedly invested $20 million in Argentine digital bank Ualá, adding another Latin American financial platform to its growing list of stablecoin-focused investments. Summary Tether has reportedly invested $20 million in Argentine digital bank Ualá through its $197 million funding round. The investment adds to Tether’s recent backing of Mercado Bitcoin and Belo as it expands across Latin America’s financial sector. Alongside these investments, Tether has continued promoting stablecoins for payroll, treasury payments and other real world financial use cases. According to a Bloomberg report, the investment was part of Ualá’s $197 million equity funding round announced in March…
The U.S. Senate has unanimously approved a nonbinding resolution opposing any federal clemency for FTX founder Sam Bankman-Fried. Summary Senators unanimously backed a resolution opposing any pardon, commutation or other federal clemency for Bankman-Fried. Bankman-Fried remains imprisoned for FTX fraud while his formal presidential pardon application continues seeking review. The resolution follows Trump’s earlier pardons of other prominent crypto figures, including Zhao and Ulbricht. Senators agreed to the measure by unanimous consent on July 15, meaning no senator objected when it was brought before the chamber. The resolution states that Bankman-Fried should “under no circumstances” receive executive clemency, including a…
Trump has stepped up efforts to advance the Senate’s crypto market structure bill by convening key Republican senators at the White House as lawmakers push to secure a floor vote before the August recess. Summary President Donald Trump is meeting senators as the Senate pushes to advance the CLARITY Act before the August recess. Senator Cynthia Lummis said a revised draft will be introduced within days with a floor vote expected next week. Prediction markets have raised the odds of a Senate vote before the recess even as debate over ethics provisions continues. According to Politico, President Donald Trump is…
Bitcoin has slipped below $65,000 after Iran rejected renewed prospects for peace talks with the United States, adding fresh pressure to risk assets as military operations continue. Summary Iran rejected U.S. peace talks despite Trump’s claim that Tehran wants a deal. Bitcoin fell below $65,000 as renewed U.S.-Iran tensions weighed on markets. Polymarket traders see only a 20% chance of peace talks resuming this month. Iran’s Foreign Ministry said there are currently no plans for negotiations with the United States, with the country’s immediate priority remaining its defense efforts. The statement came after U.S. President Donald Trump claimed during a…