Author: John Smith
The Major County Sheriffs of America has withdrawn its opposition to the decentralized finance provision in the CLARITY Act, easing one of the main law enforcement concerns surrounding the proposed U.S. crypto market structure bill. Summary Major County Sheriffs of America has dropped its opposition to the CLARITY Act’s DeFi provision and adopted a neutral stance. The group proposed amendments giving state and local law enforcement a formal role in Treasury studies and advisory bodies. Senate momentum has improved, with updated timelines and rising passage odds boosting expectations for the CLARITY Act. According to a letter sent by the Major…
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…
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…
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…
Europe’s securities regulator has warned that prediction market contracts offered in the European Union could already fall under existing financial rules, potentially triggering a long-standing retail ban on binary options. Summary ESMA says some prediction market contracts may already fall under MiFID II financial rules. Existing EU binary options restrictions could apply automatically if contracts qualify as financial instruments. The guidance follows mounting regulatory scrutiny of Polymarket and other prediction market platforms across Europe. According to the European Securities and Markets Authority (ESMA), firms offering event-based contracts in the European Union must assess whether those products qualify as financial instruments…
President Donald Trump has denied knowing about the at least $1.4 billion in crypto income disclosed in his latest financial filing, while defending both his personal gains and his family’s involvement in the digital asset industry. Summary Donald Trump said he was unaware of the at least $1.4 billion in crypto income disclosed in his latest financial filing. The disclosure attributes most of the earnings to licensing deals tied to the TRUMP meme coin and WLFI token sales. Trump renewed his call for U.S. crypto leadership as the CLARITY Act faces political and ethics-related hurdles in Congress. According to a…
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…
For the first time in the tournament’s near-century of history, a crypto exchange sits inside FIFA’s official partner ecosystem. Six billion viewers, sixteen host cities, one industry trying to prove it has outgrown the arena-naming era. Here is what the deal actually is, and what it has to survive. Summary Kraken became FIFA’s first official crypto exchange supporter, marking the first time a crypto exchange has joined the tournament’s official partner ecosystem. The partnership focuses on fan engagement through activations, education, and onboarding as Kraken looks to turn World Cup viewers into long term users. The sponsorship reflects a more…