Author: John Smith

Metaplanet plans to use its newly acquired Japanese brokerage to develop Bitcoin-backed bonds offering yields of roughly 4% to 6%, according to Benchmark. Summary Metaplanet envisions issuing Bitcoin-backed bonds yielding between 4% and 6%. Its JPY 2.1 billion Siiibo Securities acquisition provided a regulated Japanese securities platform. Future Bitbonds could move onchain with stablecoin settlement and trade on a secondary market. Benchmark maintained its Buy rating and JPY 405 price target for Metaplanet stock. Metaplanet Securities could become a Bitbond platform Benchmark analyst Mark Palmer argued that investors have underestimated the importance of Metaplanet’s acquisition of Siiibo Securities, which closed…

Senate Republicans are seeking Democratic support for the Clarity Act as lawmakers consider starting a floor process before the August recess. Summary The Clarity Act needs 60 Senate votes to advance through the chamber’s cloture process. Senate Majority Leader John Thune could file cloture on a motion to proceed this week. Seven Democratic senators said the revised bill still falls short on several policy issues. A major US police union has endorsed the bill after lawmakers revised its DeFi provisions. Clarity Act faces a 60-vote Senate test Crypto industry groups hope Thune will begin the floor process by filing cloture…

The U.S. Commodity Futures Trading Commission has asked a federal court to expedite its ruling against Minnesota before the state’s prediction-market ban takes effect on Aug. 1. Summary Minnesota’s ban takes effect Aug. 1, leaving the court only days to decide on injunctive relief. Kalshi and Polymarket joined the CFTC’s request for a temporary administrative stay. The CFTC may seek emergency appellate relief if the district court does not act promptly. Industry groups argue that one federal framework should govern regulated event contracts across the United States. CFTC presses court as Aug. 1 deadline approaches The CFTC requested expedited handling…

Tesla has secured a UK Supreme Court victory that revives its legal challenge over the licensing terms for patents needed to launch 5G-enabled vehicles in Britain. Summary Tesla can resume its FRAND licensing claim against InterDigital and patent platform Avanci. Avanci’s proposed licence reportedly cost $32 for each 5G-connected vehicle when proceedings began. Tesla continues to hold 11,509 Bitcoin despite recording a $112 million quarterly digital-asset loss. Dogecoin remains available for eligible Tesla Shop products, but not for vehicle purchases. Tesla revives UK lawsuit over 5G patents Britain’s Supreme Court ruled in Tesla’s favor on July 27, overturning earlier decisions…

The Hyperliquid Policy Center and Multicoin Capital have filed a joint comment supporting the Commodity Futures Trading Commission’s proposed prediction-market framework. Summary Hyperliquid Policy Center and Multicoin support clear federal standards for regulated prediction market contract reviews. They want settlement terms to determine whether contracts involve gaming, war, assassination, or restricted activities. The groups seek published reasoning whenever the CFTC approves or rejects reviewed event contracts publicly. The groups said written federal standards would help operators design event contracts and reduce policy swings between administrations.  The filing arrived on July 27, the proposal’s comment deadline. The rule would explain how…

Coinbase chief executive Brian Armstrong has argued that artificial intelligence will increase demand for crypto rather than replace it. Summary Armstrong says AI agents will increase crypto demand by using programmable money for autonomous transactions. Chainalysis counted over 100 million x402 payments on Base, though meme-coin farming drove early growth. Coinbase combines Base, USDC, x402 and agent wallets to build its agentic finance payment stack. In a July 27 post on X, he described Base, USDC and the x402 payment standard as the core of Coinbase’s “Agentic Finance,” or AiFi, strategy. Armstrong wrote that “AI being a megatrend takes nothing…

South Korea has moved to deepen venture capital ties with Silicon Valley as President Lee Jae-myung has urged six of the world’s largest venture capital firms to invest in Korean startups while the National Pension Service has signed long-term investment cooperation agreements with them. Summary South Korea has partnered with six leading Silicon Valley venture capital firms while the National Pension Service signed long term investment cooperation agreements with them. President Lee Jae myung has asked the global investors to increase funding for Korean startups as the government expands support for technology industries. The government is pairing the initiative with…

Stripe’s stablecoin partnerships head, Connor Fitzgerald, has stepped down after helping build the company’s global stablecoin card program from launch to operations across more than 100 markets. Summary Stripe partnerships head Connor Fitzgerald has left the company after helping build its global stablecoin card program. He joined Bridge shortly after Stripe acquired the stablecoin infrastructure company and helped establish sponsor bank and card network partnerships. His departure comes as Stripe continues expanding its regulated stablecoin payment infrastructure through Bridge. Connor Fitzgerald announced on X that last week was his final week at Stripe and its stablecoin infrastructure business Bridge, ending…

BitMart has started a phased shutdown of its global cryptocurrency exchange after reviewing its operating conditions, market environment, and future strategy.  Summary BitMart stopped new registrations, deposits, and orders before ending all trading services on August 26. BMX lost about 63% in 24 hours as traders reacted to the exchange’s shutdown announcement. Withdrawals remain available, but BitMart advised users to submit requests before August 26’s recommended deadline. According to the official shutdown notice, the exchange stopped new registrations, cryptocurrency and fiat deposits, and new spot orders from 01:30 UTC on July 26. Futures accounts entered reduce-only mode, while copy trading,…

Wise plans to submit a new application for a U.S. national trust bank charter under the GENIUS Act after the Office of the Comptroller of the Currency rejected its first bid. Summary Wise plans a fresh U.S. charter application under the GENIUS Act after the OCC rejection. The OCC cited weak AML controls, management gaps, and limited national banking experience in denial. William Blair expects Wise to remain rail-agnostic rather than make stablecoins its core business model. The July 21 decision ended the payments company’s effort to create Wise National Trust in Austin, Texas. Wise disclosed the outcome on July…