Author: John Smith
Robinhood built a blockchain for tokenized stocks and institutional-grade real-world assets. In its first week, the chain did $570 million of volume against $21.68 million of liquidity, a 26-to-1 ratio that exists nowhere else in DeFi, and most of it was memecoin speculation. This is the launch-week autopsy: what the numbers actually show, what the chain was built for versus what it is being used for, and whether bought liquidity and degen volume can become a real economy. Summary Robinhood Chain processed $570 million in launch week trading volume with just $21.68 million in liquidity as memecoin activity dominated early…
Goldman Sachs has prohibited employees from trading prediction market contracts tied to the bank, elections, financial markets, macroeconomic data, and geopolitics as companies respond to growing insider trading risks on event-based platforms. Summary Goldman Sachs has barred employees from trading prediction market contracts tied to the bank, elections, financial markets, and geopolitical events. The move comes as companies face rising pressure to strengthen insider trading safeguards after regulators brought their first corporate prediction market case. Google, lawmakers, and state regulators have also tightened oversight of prediction markets as legal and compliance scrutiny continues to grow. CNBC reported that the investment…
Polymarket has filed three registration applications with the National Futures Association as it seeks to introduce margin trading for U.S. users. Summary Polymarket filed three NFA registration applications as it seeks to offer margin trading in the U.S. The platform would still need CFTC approval before introducing leveraged event contracts. Kalshi affiliate Kinetic Markets secured similar NFA approvals in March 2026. According to the National Futures Association’s BASIC database, Polymarket affiliate Coming Home GBA LLC submitted the applications through PM Derivatives LLC on July 3. The filings seek registration as a futures commission merchant, an NFA member, and a swap…
Bitcoin has climbed back above $63,000, gaining about 2% over the past 24 hours, as lower oil prices and softer U.S. bond yields have improved sentiment toward risk assets despite the crypto market remaining in extreme fear. Summary Bitcoin has climbed above $63,000 as easing oil prices and lower Treasury yields lifted risk appetite. The Crypto Fear & Greed Index remains in Extreme Fear, showing investor confidence is still weak. Technical indicators suggest improving momentum, with Bitcoin testing key resistance near $63,235. According to data from crypto.news, Bitcoin (BTC) traded around $63,250 on Thursday after recovering alongside other major cryptocurrencies…
Bitdeer Technologies has unveiled a $36 million manufacturing facility in Nevada, bringing production of its SEALMINER Bitcoin mining machines to the United States. Summary Bitdeer will invest $36 million in a Nevada factory to produce SEALMINER Bitcoin mining machines. The new Sparks facility is expected to begin commercial production by the end of 2026. Bitdeer shares jumped 14.1% as the company reported stronger U.S. manufacturing and 921 BTC mined in May. According to Bitdeer, the new plant in Sparks, Nevada, will manufacture key components for the company’s SEALMINER mining rigs, with commercial production scheduled to begin before the end of…
Paul Grewal has announced that he will step down as Coinbase’s chief legal officer on July 31, handing over leadership of the exchange’s legal team just days before the US Senate is expected to resume work on the CLARITY Act. Summary Paul Grewal will leave his role as Coinbase chief legal officer on July 31 and become an adviser. Molly Abraham will become general counsel as Congress prepares to revisit the CLARITY Act. Coinbase continues pushing for crypto market structure legislation after its SEC lawsuit was dismissed. According to posts Grewal published on X and LinkedIn, he will move into…
The Senate has entered what could be its final practical window to advance the CLARITY Act this year, with a merged draft expected as early as next week before lawmakers run out of time ahead of the August recess. Summary Senate negotiators are preparing a merged CLARITY Act draft ahead of a possible floor vote later this month. Democratic support remains uncertain as lawmakers continue talks over ethics rules, DeFi protections, and stablecoin provisions. The White House has denied blocking Democratic SEC and CFTC nominees as regulatory appointments become part of the debate. According to a CoinDesk report, Senate negotiators…
SpaceX shares have gained fresh momentum after Raymond James initiated coverage with an $800 price target, implying about 440% upside from current levels. Summary Raymond James initiated SpaceX with a Strong Buy rating and an $800 price target, implying about 440% upside. Wall Street support strengthened as Morgan Stanley, Goldman Sachs, Citigroup, UBS, and Wells Fargo also issued bullish ratings. SpaceX expanded its Starlink plans, Ark Invest added shares, and the company’s Bitcoin holdings remained in focus. According to Raymond James, the brokerage has started coverage of SpaceX with a Strong Buy rating and an $800 price target, making it…
The Bank of Korea has reaffirmed that won-denominated stablecoins should initially be issued through bank-led consortiums, reinforcing its position as South Korea’s digital asset legislation remains stalled. Summary Bank of Korea has reaffirmed support for bank-led issuance of won-backed stablecoins. The central bank plans to expand deposit-token pilots for public payments and services. Disagreements over stablecoin rules continue to delay South Korea’s Digital Asset Basic Act. According to local reports from Digital Asset and EDaily, the Bank of Korea (BOK) restated its position in documents submitted on Thursday to the National Assembly’s finance committee. The central bank argued that bank-led…
Wells Fargo has expanded its exposure to Strategy while reducing part of its BlackRock Bitcoin ETF position, according to its latest regulatory filing that also shows larger investments across Ethereum and Solana-linked products. Summary Wells Fargo increased its Strategy stake by 125% while trimming its BlackRock Bitcoin ETF holding. The bank boosted Ethereum ETF exposure, added Solana funds, and expanded positions in Bitmine and Robinhood. SEC filings also show reduced stakes in Coinbase and Galaxy Digital despite broader crypto market exposure. According to the bank’s latest filing with the U.S. Securities and Exchange Commission, the $2.5 trillion asset manager increased…