Adam Backs Bitcoin treasury company seeks new terms with Cantor for SPAC merger

The Bitcoin Standard Treasury Company (BSTR), founded by Blockstream CEO Adam Back, wants to change the terms of its merger agreement with Cantor Equity Partners for a public offering.  According to a Wednesday announcement, BSTR and Cantor Equity Partners I, the special purpose acquisition company (SPAC) created by financial services giant Cantor Fitzgerald, scrapped the original terms of a 2025 merger agreement and will negotiate a new deal. Although the details were not included in the announcement, both companies said that they intended to negotiate terms that “better reflected market conditions.”  Source: BSTR  A shareholder meeting scheduled for Friday intended to address the SPAC merger and a public offering was postponed indefinitely. The companies said that they would “provide further details in due course.”  BSTRs initial deal included contributing more than 30,000 Bitcoin (BTC) and $1.5 billion in PIPE (Private Investment in Public Equity) financing. The US Securities and Exchange Commission (SEC) recognized the registration statement for the agreement in June, with many expecting the public offering soon to follow.  Related: Capital B raises $1.3M from Adam Back for Bitcoin strategy  According to a February report from Institutional Investor, Cantor was giving itself “a lot of wiggle room” in SPAC deals, no longer keeping its sole

07-09Industry

Officials set to revise MiCA to cover non-EU stablecoin issuers: Report

European Union officials are reportedly planning to revise the Markets in Crypto-Assets (MiCA) framework amid the implementation of a US law on stablecoins.  According to a Wednesday report from Euronews, EU officials planned to revisit proposed changes to MiCA to broaden the frameworks scope, specifically regarding non-EU companies issuing stablecoins.  The revised rules, which authorities will reportedly consider in 2027, were in response to the US governments Guiding and Establishing National Innovation for US Stablecoins, or GENIUS, Act, putting pressure on EU officials to clarify how US stablecoin issuers could be regulated in member states. Officials will also reportedly consider expanding MiCA to include rules on tokenized payments and deposits.  Under MiCA, crypto companies offering services to EU-based users across 27 member states must now be licensed as Crypto-Asset Service Providers (CASPs) by a regulator in one of the member states. Although the licensing requirement took effect on July 1, European Commission officials had already opened a comment period for potentially revising the framework, including provisions on decentralized finance (DeFi) and stablecoins.  Related: Stablecoin-settled TradFi perpetual trading tops $1.1T: Binance Research  The proposed framework, which some have dubbed “MiCA 2.0,” will remain open for comments until Aug. 31. However, Miroslav Durić, a senior associate at

07-09Industry

Trump-linked AI Financial may sell core unit for just $15m

AI Financial, formerly known as Alt5 Sigma, is in talks to sell its core payments business to Tokyo-based blockchain firm Perpetuals.com. The Wall Street Journal reported that the deal could be worth up to $15 million.  SummaryAI Financial may sell Alt5 Sigma Canada after WLFI losses wiped out most shareholder value.The possible deal remains non-binding, with Perpetuals.com still reviewing terms and due diligence.Trump-linked World Liberty remains under scrutiny as crypto.news reports rising political and ethics questions.  WSJ: Trump Family Crypto Project-Linked AI Financial in Talks to Sell Core Business for Up to $15M  According to The Wall Street Journal, AI Financial, formerly Alt5 Sigma, is in talks to sell its core payments business to Tokyo-based blockchain company Perpetuals com for up to… pic.twitter.com/MUwBaWXtRJ  — Wu Blockchain (@WuBlockchain) July 8, 2026  The possible sale would cover Alt5 Sigma Canada, a payments subsidiary owned by AI Financial. Perpetuals.com said in a July 7 filing that it had signed a non-binding term sheet to explore the acquisition.  The filing said, “No decisions have been made,” while Perpetuals.com reviews the business. The company also said it is carrying out due diligence before any final agreement.The talks mark a sharp turn for AI Financial. Less than a year ago, the company

07-09Industry

Kraken leads MiCA exchanges as EU crypto rules bite

Kraken leads MiCA-regulated crypto exchanges in liquidity, according to DefiLlamas MiCA exchange dashboard. The data cited by Wu Blockchain showed Kraken with $399.71 million in spot liquidity and $206.90 million in perpetual liquidity, placing it first in both categories.  DefiLlamas live MiCA-regulated exchanges dashboard later showed Kraken still ahead, with more than $400 million in spot liquidity and more than $220 million in perpetual liquidity. The live figures may change because liquidity data moves with market depth, prices and exchange activity.  Coinbase ranked second in the figures cited by Wu Blockchain, with $305.23 million in spot liquidity and $167.39 million in perpetual liquidity. DefiLlamas live page still placed Coinbase among the top regulated venues, but behind Kraken in the main liquidity table.  The gap matters for traders who need deeper order books. Higher liquidity can help reduce slippage when users place larger orders. It can also make an exchange more useful for active traders, market makers and institutional clients.  Coinbase and Crypto.com remain close rivals  Coinbase remains Krakens closest large rival among MiCA-regulated exchanges. The exchange has built its European base in Luxembourg, where it uses a MiCA license to serve users across the bloc.  crypto.news reported that Coinbase opened its Luxembourg MiCA hub as the

07-09Industry

AscendEX crypto exchange shuts down, no assurance on user payouts

Quick TakeCrypto exchange AscendEX announced on July 6 that its platform ceased operations on July 1, citing regulatory, financial, and operational challenges.The companys statement indicated that the current liquidity issue may restrict full user withdrawals.  Crypto exchange AscendEX announced that it has shuttered operations effective July 1, citing regulatory pressures and financial challenges.  In an official notice dated July 6, the exchange stated that the decision stemmed from a combination of factors, including the full implementation of the European Unions MiCA on July 1, for which AscendEX does not hold authorization. Other financial and operational issues affected the platform.  The exchange also indicated that existing users may not be able to withdraw the full crypto balances they held on the platform.  “We relied on an agreed strategic transaction that was to provide liquidity to grow the platform, and the counterparty did not perform; wider crypto market conditions have added further pressure,” AscendEX wrote. “We are currently assessing the companys financial position and considering what options, if any, may be available in relation to account holders.”  AscendEX noted that account access is restricted to limited offboarding purposes, and automated withdrawals have been paused. Withdrawal requests are subject to manual review, and therefore could be delayed, the

07-09Industry

South Korean super app Toss partners with Optimism for won linked stablecoin trial

South Korean financial super-app Toss has signed a strategic agreement with Optimism and Sunnyside Labs to test blockchain infrastructure for South Korean won-linked stablecoins through a three-month technology verification program.  SummaryToss has partnered with Optimism and Sunnyside Labs to test blockchain infrastructure for South Korean won linked stablecoins over the next three months.The companies will evaluate payment settlement, compliance requirements and privacy protection using Optimism‘s OP Stack and Sunnyside Labs’ Privacy Boost technology.The project will assess whether public blockchain infrastructure can meet institutional financial standards while supporting secure and scalable digital payments.  According to a press release shared with crypto.news, the financial technology company will work with Ethereum layer 2 network Optimism and privacy technology developer Sunnyside Labs to examine whether blockchain infrastructure can support institutional payment systems while meeting financial regulations in South Korea. The companies will carry out a proof-of-concept (PoC) over the next three months.  Three areas under review  As part of the project, the companies will evaluate whether financial institutions can directly manage payment and settlement processes, comply with customer identification and anti-money laundering requirements, and protect sensitive transaction information while operating on a public blockchain.  Those requirements form the basis of the technical assessment, with Optimism providing blockchain infrastructure through

07-08Industry

Russia advances crypto bill after dropping wallet address disclosure rule

Russias State Duma committee has approved a revised cryptocurrency regulation bill for its second reading, removing a proposed requirement to declare crypto wallet addresses while adding provisions for crypto-funded investments and new transfer controls.  SummaryRussias State Duma committee has approved a revised crypto bill for its key second reading after removing mandatory crypto wallet address disclosures.The updated proposal allows crypto to be used for buying Russian securities and digital financial assets while keeping the annual retail investment limit at 300,000 rubles.New provisions would require certain large overseas and third party crypto transfers to be frozen for up to two days under the proposed rules.  According to a statement shared through State Duma Financial Market Committee Chairman Anatoly Aksakovs Telegram channel, the committee endorsed an updated version of the government-backed bill that is expected to move to its second, substantive reading. Records on the State Duma website have not yet been updated since the bill cleared its first reading in April.  Revised bill removes wallet address reporting  Among the biggest changes, the updated draft no longer requires cryptocurrency holders to declare wallet addresses. Instead, users would only need to report wallet balances and transaction volumes.  Aksakov said the revision is intended to reduce the risk of

07-08Industry

Strike launches ‘volatility-proof’ Bitcoin loans amid bear market, but at a cost

Bitcoin financial services platform Strike has launched a “volatility-proof” Bitcoin-backed loan that eliminates margin calls and forced liquidations amid the depths of a bear market, but only for those who can pay on time and handle a 14% interest rate.  In an announcement on Tuesday, Strike CEO Jack Mallers said the offering came in response to broad customer feedback on Strikes first Bitcoin loan product, which launched in May 2025 and triggered many liquidations during a timeframe in which Bitcoin (BTC) dropped 54% from peak to trough.  “No margin calls. No price liquidations. No matter how far bitcoin falls, your bitcoin doesnt move,” Strike CEO Jack Mallers said of the new Bitcoin loan product. The trade-off is an expensive interest rate, a shorter six-month loan term, and an obligation to pay on time to avoid liquidation, Mallers said.  Strikes Jack Mallers is presenting the new Bitcoin-backed loan product. Source: Jack Mallers  The Bitcoin industry has spent the better part of a decade racing to build financial products that expand Bitcoins use case beyond a savings technology. A report in June from crypto lending platform Ledn, however, found that while 88% of surveyed crypto investors said they would consider a crypto-backed loan, only 14% use

07-08Industry

Nigel Farage to resign from UK Parliament amid crypto “gift” scandal, will stand in by-election

Nigel Farage, the leader of the UKs Reform party, announced that he would resign as a member of Parliament and stand in the by-election that could replace him.  On Tuesday, Farage announced that he would resign as MP representing Clacton in response to what he called “foul means” by established politicians. The UK lawmaker‘s resignation followed reports that he had personally received millions of dollars’ worth of donations and gifts from crypto billionaire Christopher Harborne and George Cottrell, a convicted fraudster linked to a crypto casino.  “Let me be absolutely clear: I have done nothing wrong,” said Farage in an X livestream. “I have not broken the law in any way at all. I have not misused public money.”Source: Nigel Farage  Farage already had ties to the crypto industry before reports of the scandal. He spoke at the Bitcoin 2025 conference in Las Vegas and is an investor in London-listed Bitcoin (BTC) treasury company Stack. When reports began circulating in May that the Reform leader had received a $6.7 million gift from Harborne, he initially called it a “reward” for campaigning for Brexit, the 2016 referendum that led to the UKs exit from the European Union.  Related: Crypto billionaires bankroll Nigel Farages pro-crypto party  The

07-08Industry

USDT wins payments, USDC wins DeFi as stablecoins diverge: Dune

The world‘s biggest stablecoins are increasingly becoming chain-specific financial products, with Tether’s USDt (USDT) and Circles USDC (USDC) serving distinct roles across the crypto ecosystem rather than competing head-on.  Dune‘s Digital Asset Brief found that USDT overwhelmingly dominates onchain payments. During the first half of 2026, the biggest stablecoin settled about $95 billion in identified commerce payments, compared with $14 billion for second-biggest USDC. It also accounted for roughly 92% of the $48 billion in business-to-business payment volume. On Tron, USDT’s largest network, around 93% of the tokens supply is held in ordinary wallets rather than on exchanges, underscoring its role as a payment and remittance asset.  USDC, meanwhile, has established itself as the dominant stablecoin in decentralized finance. USDC on Base processed roughly $2.6 trillion in transfer volume in June, the highest of any token-chain pair, while on Ethereum, that stablecoin handled another $1.6 trillion.  USDC on Base recorded daily velocity of about 20 times its circulating supply in June, reflecting its extensive use in trading and DeFi. Source: Dune  The findings suggest the traditional USDT-versus-USDC narrative is becoming less useful. Instead, each stablecoin is carving out its own niche, with USDT dominating payments and USDC underpinning much of cryptos trading and DeFi

07-08Industry
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