News
Stay up to date on the latest crypto trends with our expert, in-depth coverage.
Pakistan's central bank is partnering with Tokyo-based blockchain firm Soramitsu to launch a digital rupee pilot by late 2025, targeting the country's cash-dependent economy.
Share link:In this post: Tesla hiring robotaxi test drivers in New York despite lacking permits. Recruitment in Queens targets operators for automated driving systems. Company pushes robotaxi trials amid regulatory uncertainty.
Share link:In this post: July was the second-best month for US EV sales, led by Tesla price cuts ahead of tax credit expiration. The Federal $7500 EV tax credit is set to end on October 1 under the Trump administration policy. Some analysts have warned that sales could drop sharply after removing the tax incentive.
Share link:In this post: Do Kwon pleaded guilty in Manhattan to two counts of fraud over the $40 billion TerraUSD and Luna collapse. He agreed to forfeit over $19 million and faces up to 25 years in prison, with prosecutors seeking no more than 12 years. Prosecutors said Terraform products failed as promised, and the crash fueled the 2022 crypto winter.
Share link:In this post: Steven Miran and James Bullard both said Trump’s tariffs are not causing inflation. Miran has been nominated to fill a vacant Fed board seat after Adriana Kugler’s resignation. Bullard is a contender to replace Jerome Powell as Fed chair next year and expects rate cuts starting in September.
Share link:In this post: Genius Group plans a secondary stock listing in Asia, with South Korea as the top choice. The move aims to boost liquidity, enable fairer pricing, and allow near 24-hour trading. Other possible listing locations include Australia, Malaysia, Thailand, Hong Kong, and Japan.
Share link:In this post: Fenwick & West, a prominent Silicon Valley law firm, is being sued for allegedly aiding in FTX’s fraud. The case is part of a broader investigation into the practices of FTX and its affiliates, with multiple parties seeking accountability. Another lawsuit targeted Sullivan & Cromwell last year, which billed $8.5 million in fees while serving as primary counsel during the 16 months preceding FTX’s collapse.
Share link:In this post: Belarusian central bank drafts rules permitting crypto payments. Governor Golovchenko makes an announcement after meeting with Lukashenko. Minsk faces sanctions of the kind that convinced Moscow to start using cryptocurrencies.
Share link:In this post: The S&P 500 closed at a record 6,445.76, and the Nasdaq hit 21,681.90 after July inflation came in softer than expected. July CPI rose 2.7% annually, below the 2.8% forecast, while core CPI increased 3.1%. Traders now see a 94% chance of a September Fed rate cut, with more cuts likely in October and December.
- 20:41U.S. Senate Banking Committee Chair expects 12 to 18 Democratic senators may support the Digital Asset Market Structure BillAccording to a report by Jinse Finance, Tim Scott, Chairman of the U.S. Senate Banking Committee, stated at the SALT conference in Jackson Hole, Wyoming, that he expects 12 to 18 Democratic senators may support the Senate’s market structure bill for digital asset market regulation. Currently, the Senate has only released a discussion draft, and the final bill is expected to be completed by the end of September. This legislation will determine how the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) regulate digital assets, including the spot crypto market. Scott noted that some Democrats, such as Elizabeth Warren, may hinder the progress of the bill.
- 20:12The three major U.S. stock indexes closed mixedAccording to Jinse Finance, the three major U.S. stock indexes closed mixed, with the Nasdaq down 1.46%, the S&P 500 down 0.59%, and the Dow Jones up 0.02%. During the session, the Dow Jones hit a record high. Most large-cap tech stocks declined: AMD fell over 5%, Nvidia dropped more than 3%, Netflix and Meta both fell over 2%, while Tesla, Microsoft, and Amazon were down more than 1%. Apple and Google saw slight declines. Intel surged about 7% after SoftBank Group announced a $2 billion equity investment in the company. Notably, Nvidia recorded its largest single-day drop since April 21.
- 20:02Franklin Templeton CEO: Crypto Investments Should Focus on Infrastructure, Not BitcoinAccording to a report by Jinse Finance, Jenny Johnson, CEO of Franklin Templeton, which manages $1.6 trillion in assets, stated at the SALT conference in Jackson Hole, Wyoming, that Bitcoin is a "currency of fear" and, in her view, distracts people from the true potential of blockchain. She believes that the most worthwhile investment direction in the crypto space is blockchain infrastructure, including blockchain networks, consumer applications, and node validators. Johnson anticipates that mutual funds and ETFs will gradually operate on the blockchain in the future, but regulatory risks remain the biggest obstacle to this transformation. She emphasized that for active investment managers, the transparency provided by validators could be a "game changer."