Author: John Smith
He built the app that made stock trading free, sat at the center of the GameStop crisis, launched a blockchain, dismissed memecoins, embraced one six days later, and runs an AI company chasing mathematical superintelligence on the side. Summary Vlad Tenev is co-founder and CEO of Robinhood Markets, the brokerage that popularized commission-free trading and now runs its own blockchain, roughly 28 million customers across 38 countries. He co-founded the company with Baiju Bhatt. Before it was Robinhood, they called it CashCat, a discarded name that a memecoin resurrected in 2026. Robinhood was at the center of the 2021 GameStop…
Taiwan has sentenced the alleged mastermind behind the BitShine crypto exchange to 22 years in prison after finding he led a fraud and money laundering operation that prosecutors said caused more than NT$1.27 billion ($39 million) in losses to over 1,500 victims. Summary A Taiwan court has sentenced the BitShine crypto exchange ringleader to 22 years in prison over a NT$1.27 billion fraud and money laundering scheme. Prosecutors said more than 1,500 victims were defrauded after funds were converted into USDT and moved overseas through the exchange. The ruling comes after Taiwan approved a new licensing framework that strengthens oversight…
Dutch cryptocurrency platform Knaken has been declared bankrupt by a Rotterdam court after prosecutors alleged that around €7 million in customer funds could not be accounted for. Summary Crypto exchange Knaken was declared bankrupt after prosecutors alleged €7 million in customer funds disappeared. A Rotterdam court said Knaken lacked enough assets to repay customers fully after operations stopped. Knaken’s collapse follows MiCA enforcement, which now bars unlicensed crypto firms from serving EU customers. The ruling followed a bankruptcy request filed by the Netherlands Public Prosecution Service in late June after regulators raised concerns about the company. According to NL Times,…
Bybit has launched a locally operated cryptocurrency platform in Indonesia following its majority acquisition of PT Enkripsi Teknologi Handal, formerly known as NOBI. Summary Bybit launches Indonesia platform after acquiring NOBI, entering a regulated market with 21.07 million accounts. Bybit Indonesia will roll out more than 500 trading pairs while keeping local management leadership. OJK licensed 31 crypto entities by March, as Indonesia tightened oversight across its digital market. The company said the deal establishes Bybit Indonesia as a local entity operating under the supervision of the Financial Services Authority, or OJK. The exchange plans to introduce its services in…
Trump Media & Technology Group has unveiled a paid data service that will deliver real-time posts from Truth Social’s highest-ranking accounts to financial firms and news organizations. Summary Trump Media will sell real-time Truth Social posts through a licensed API for financial firms. President Trump’s 12.9 million-follower account gives the paid feed its main market appeal. Ethics experts question whether presidential information should generate revenue for a family-linked company. According to Trump Media, the Truth API will provide licensed access to public posts that may carry time-sensitive political, policy, or market information. The company plans to offer the feed to…
A White House teleprompter operator has been placed on paid leave after allegedly earning more than $90,000 from Kalshi bets tied to words President Donald Trump would use in his speeches. Summary The CFTC is investigating Gabriel Perez over more than $90,000 in reported Kalshi profits. Kalshi froze most of the gains after flagging bets tied to Trump’s speeches as suspicious. The case comes as Trump Media begins selling real-time Truth Social data to financial firms. According to an ABC News report, the Commodity Futures Trading Commission is investigating Gabriel Perez over trades placed in Kalshi’s “mentions” markets, where users…
President Donald Trump has promoted more than 20 companies, including Nvidia, Tesla and Apple, within days of purchasing their shares, according to a CNN investigation. Summary CNN linked Trump’s company promotions to stock purchases made only days earlier. Trump bought up to $500,000 in Nvidia shares before announcing faster AI permits. The findings have added pressure to include ethics rules in the CLARITY Act. CNN found that several Truth Social posts announced or praised government actions that could benefit companies held in Trump’s investment accounts. The report has renewed questions about whether his financial interests conflict with decisions made by…
T. Rowe Price, which manages nearly $2 trillion, has launched an actively managed crypto ETF holding nine digital assets, led by Bitcoin at almost 41%. Summary T. Rowe Price has launched TKNZ, the first actively managed multi-token spot crypto ETF. Bitcoin leads the nine-asset portfolio, followed by Ethereum and BNB. Eric Balchunas praised the firm’s decision to launch after October’s crypto selloff. According to a July 16 press release from T. Rowe Price, the Active Crypto ETF began trading on NYSE Arca under the ticker TKNZ. The asset manager described the product as the market’s first actively managed multi-token spot…
Former Fidelity fund manager George Noble has warned that an AI bubble crash could cause 17 times more damage than the dot-com collapse, which erased about $5 trillion from the Nasdaq. Summary George Noble warns an AI crash could cause 17 times more damage than the dot-com collapse. Polymarket traders have raised the odds of an AI bubble bursting in 2026 above 17%. Dalio and the U.S. Treasury identify liquidity and economic links as key risks. According to Polymarket, the probability of an AI bubble bursting in 2026 has climbed above 17% after recently falling from 30% to 14%. Contracts…
Coinbase and Ripple have secured EU-wide access through Luxembourg as MiCA’s July 1 deadline has pushed Binance and other unlicensed platforms to scale back services. Summary Coinbase and Ripple have secured EU-wide access through separate Luxembourg MiCA authorizations. Binance’s retreat has created an opening for licensed exchanges to capture migrating customers. USDT restrictions give USDC and RLUSD room to compete for European stablecoin volume. According to earlier reports, Binance withdrew its Greek license application and began suspending services in several European Union countries after the 18-month transitional period ended. The deadline requires crypto-asset service providers to obtain authorization before continuing…