Author: James Wilson

President Donald Trump’s crypto income disclosure has intensified Senate ethics demands as lawmakers debate the CLARITY Act. Summary Gillibrand wants lawmakers and their spouses barred from issuing or promoting crypto memecoins. Trump’s $1.4 billion crypto income disclosure has intensified the Senate ethics debate. Ethics provisions remain a key sticking point in ongoing CLARITY Act negotiations. In a Friday notice, Sen. Kirsten Gillibrand reiterated her call for a ban on members of Congress and their spouses issuing or promoting crypto memecoins after President Trump disclosed about $1.4 billion in crypto-related income for 2025. “This is a commonsense requirement that should get…

Gnosis Pay has revealed that a software flaw dating back to October 2023 enabled the $1.5 million exploit of its card safe infrastructure, while confirming that all affected users have been fully reimbursed. Summary Gnosis Pay traced its $1.5 million hack to a Zodiac software flaw that had existed since October 2023. The company reimbursed all affected users, restored services within days, and continues recovering about $300,000. The incident adds to growing scrutiny of crypto security as firms and governments respond to rising cyber threats. According to a postmortem published by Gnosis Pay on Friday, the vulnerability was traced to…

South Korean crypto exchange Upbit has rejected claims that it is participating in the issuance of Open USD after being listed among more than 140 organizations associated with the proposed stablecoin. Summary Upbit says it is not participating in Open USD issuance despite Dunamu being listed by Open Standard. Samsung, Shinhan, and K-Bank have also said they have not formally agreed to join the stablecoin initiative. Unfinished South Korean stablecoin rules continue to delay firm commitments from potential participants. According to a statement issued by Upbit, the exchange has not agreed to issue or help launch the dollar-backed stablecoin, despite…

Robinhood has emerged as a key platform in the rollout of the Trump Accounts program, with U.S. Treasury-backed child investment accounts scheduled to begin transfers ahead of the initiative’s July 4 launch. Summary Robinhood is expected to help roll out the Trump Accounts program ahead of its July 4 launch. Eligible children will receive a $1,000 government contribution, with annual private contributions capped at $5,000. Trump also floated a possible SpaceX stock donation, though neither Elon Musk nor SpaceX has confirmed any plans. According to information surrounding the program, Robinhood is expected to help facilitate the new accounts, which are…

Shielded Labs has raised the possibility of delaying Zcash’s Ironwood network upgrade, citing readiness concerns among exchanges, mining pools and wallet providers ahead of the planned late July activation. Summary Shielded Labs says Zcash’s Ironwood upgrade may be delayed as ecosystem participants need more preparation time. Exchanges, wallets and mining pools are simultaneously migrating from zcashd to the new Z3 software stack. Ironwood is designed to secure Zcash’s shielded supply after the Orchard “infinity” bug was disclosed. According to a July 3 X post on the Zcash community forum by Shielded Labs executive director Jason McGee, the network is attempting…

Standard Chartered has secured a MiCA passport as the European Securities and Markets Authority has added 57 newly authorized crypto firms to its register following the end of the EU’s transition period. Summary ESMA has expanded its MiCA register to 300 authorized crypto firms after approving 57 new providers. Standard Chartered and FalconX have secured MiCA licenses, gaining passporting rights across all 27 EU member states. The July 1 MiCA deadline has reshaped the EU crypto market, with only licensed firms allowed to serve new customers. According to the European Securities and Markets Authority (ESMA), its latest interim register now…

Coinbase stock has climbed nearly 19% in the past five trading sessions even as Bank of America says investors are pulling money out of U.S. equities at the fastest pace since March. Summary Coinbase has rallied nearly 19% in five trading days despite Bank of America reporting $17.2 billion in U.S. equity fund outflows. The exchange is expanding its European presence under MiCA while offering a 5% transfer bonus to attract users after rivals exited. Technical indicators show improving momentum, with Coinbase testing key trendline resistance near the $170 Fibonacci level. According to a Bloomberg report, Bank of America told…

Bitwise has strengthened its proposed spot NEAR ETF with a staking feature in a new SEC filing, helping drive NEAR nearly 12% higher as the token broke above a multi-week downtrend. Summary Bitwise has updated its proposed spot NEAR ETF, adding staking while naming NYSE Arca, BNY Mellon, and Coinbase Custody in the filing. NEAR jumped nearly 12% as the ETF amendment coincided with a breakout above multi-week descending resistance and improving momentum indicators. Analyst Michaël van de Poppe expects further upside if key support holds, while Grayscale has also advanced its own NEAR ETF proposal. According to a revised…

Samsung has distanced itself from the founding consortium behind the proposed OUSD stablecoin after being named among more than 140 partners announced for the project. Summary Samsung says it has not held formal talks with Open Standard despite being named an OUSD founding partner. Dunamu, Shinhan Bank, and K-Bank say they are only reviewing participation and have not approved joining the consortium. Circle expands institutional USDC services with Standard Chartered as scrutiny grows over OUSD’s founding member claims. According to a report by Chosun, several South Korean companies listed as founding members of Open Standard’s OUSD consortium have said they…

Two protocol upgrades turned Hyperliquid from a crypto perpetuals exchange into something closer to an operating system for markets. HIP-3 lets anyone with enough staked HYPE launch a perpetuals exchange for stocks, oil, or gold. HIP-4 adds prediction markets that settle without a token vote. Here is how both work, what they have built so far, and where the risks sit. Hyperliquid spent its first two years being described as the fastest decentralized perpetuals exchange in crypto. The description was accurate and incomplete. Since late 2025, the network has been executing a more ambitious plan: turning its core trading infrastructure…