Latest Crypto News & Market Updates

US, UK deepen stablecoin talks after GENIUS Act

US and UK financial regulators have expanded talks on stablecoins, tokenization and digital asset oversight as Washington begins implementing the GENIUS Act.　　SummaryThe 13th UK-US regulatory meetingtook place in London on July 8.US officials briefed UK regulators on GENIUS Act implementationand crypto market structure.Both governments support one-to-one stablecoin backingand greater cross-border regulatory coordination.The Bank of England has replaced proposed holding limits with a £40 billion issuance cap.　　US, UK regulators discuss stablecoin policy　　Senior officials from HM Treasury and the US Treasury met in London for the 13th UK-US Financial Regulatory Working Group meeting, according to an Aug. 4 joint statement.　　Representatives from the Bank of England, Financial Conduct Authority, Federal Reserve, Securities and Exchange Commission, Commodity Futures Trading Commission, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency also attended.　　Digital finance formed a central part of the July 8 meeting. US officials updated their UK counterparts on the implementation of the GENIUS Act, which establishes a federal framework for payment stablecoins, and on continuing work to define the countrys broader digital asset market structure.　　Officials also discussed tokenization, payment modernization and the G20 Cross-border Payments Roadmap. UK representatives provided an update on the countrys Wholesale Financial Markets Digital Strategy and the

08-05Industry

SpaceX taps NVIDIA for 1M-satellite AI plan

SpaceX has expanded its partnership with NVIDIA to power Starmind, a proposed network of orbital data centers designed to process artificial intelligence workloads in space.　　SummarySpaceX will use NVIDIAs Vera Rubin platformfor its planned Starmind satellite network.The company has requested FCC approval for up to one million orbital data-center satellites.NVIDIA says its Space-1 module provides up to 25 timesthe AI compute of an H100 GPU.SPCX gained 9.8%, while NVIDIA shares rose 2.5%following the announcement.　　SpaceX adds NVIDIA chips to Starmind network　　SpaceX plans to equip its Starmind satellites with NVIDIA‘s Rubin graphics processing units and Vera central processing units. The hardware forms part of NVIDIA’s Space-1 platform, which was developed for AI processing and other computing workloads in orbit.　　https://twitter.com/nvidia/status/2084733460690903204　　The partnership expands NVIDIAs list of space-computing customers after the chipmaker introduced the platform in March. Its initial launch partners included Aetherflux, Axiom Space, Kepler Communications, Planet Labs, Sophia Space and Starcloud.　　SpaceX was not included in the original announcement but has now joined the companies working with NVIDIA on orbital computing. Musk later said SpaceX would build its AI infrastructure exclusively on NVIDIA platforms and described Vera Rubin as the strongest available option.　　You might also like:　　CLARITY Act misses Senate agenda as deadline nears　　The companies also

08-05Industry

CLARITY Act vote at risk as Democrats withhold support

The CLARITY Act faces a growing risk of failing a procedural Senate vote as Democrats demand progress on ethics, illicit finance and stablecoin yield provisions.　　Democrats threaten to block CLARITY Act vote　　Senate Democrats have reportedly reached a broad consensus that they will not vote to end debate on the CLARITY Act unless negotiators resolve several outstanding issues.　　Punchbowl News reporter Brendan Pedersen said Democratic lawmakers are seeking movement on ethics restrictions, illicit finance rules and stablecoin yield before supporting cloture.　　“There is a clear consensus among Senate Democrats right now that — without movement on ethics, illicit finance and stablecoin yield — a cloture vote this week on the Clarity Act will fail,” Pedersen wrote on X.　　“Democrats wont be moved by crypto cash at this point,” he added.　　Cloture would allow the Senate to limit debate and move the legislation toward a final vote. Advancing the measure would require 60 senators, meaning Republicans cannot proceed without Democratic support.　　Republicans control 53 Senate seats. Assuming full Republican backing, they would still need at least seven Democrats to vote for cloture.　　The current vote count does not appear to provide that support, raising the risk that calling a procedural vote before reaching an agreement could produce a public

08-05Industry

OpenAI Dumps Apple Employees' Text Messages to Fight Trade Secret Suit

In briefOpenAI published a detailed rebuttal to Apples trade secrets lawsuit.The company says Apple misstated key facts before filing suit and released emails to support its claims.OpenAI also argues Apple employees continued seeking help from a former engineer after he joined the company.　　OpenAI has publicly challenged Apples trade secrets lawsuit, publishing emails, text messages, and a point-by-point rebuttal that accuses the iPhone maker of making factual errors before filing its complaint.　　In a blog post published Monday, OpenAI said Apple confused two employees with similar names, falsely claimed the company ignored its outreach, and incorrectly asserted that Apples outside counsel had spoken with OpenAI General Counsel Che Chang before filing a lawsuit against OpenAI.　　The email and text dump comes after Apple sued OpenAI in July, accusing the company, former Apple engineer Chang Liu, former Apple design executive Tang Tan, and io Products of misappropriating hardware trade secrets as OpenAI expanded its consumer hardware efforts following its acquisition of Jony Ives startup in 2025.　　“Apple is one of the greatest companies of all time, and built a reputation for obsessing over the smallest details,” OpenAI wrote. “This careless, aggressive and oddly personal lawsuit sadly doesnt live up to that reputation.”　　In its lawsuit, Apple

08-05Industry

CLARITY Act misses Senate agenda as deadline nears

The CLARITY Act was absent from the U.S. Senates Aug. 4 schedule, narrowing the window for lawmakers to advance the crypto market structure bill before their August recess.　　CLARITY Act left off the Senate schedule　　Senators convened at 10:00 a.m. ET on Tuesday before breaking until 2:15 p.m., according to the Senate Daily Press schedule.　　Following leadership remarks, the chamber was expected to resume consideration of the motion to proceed to H.R. 6500, a vehicle for a continuing resolution, after cloture.　　The schedule also listed possible votes on Erica Schwartzs nomination to lead the Centers for Disease Control and Prevention and a group of 74 nominations considered together. It did not mention H.R. 3633, formally known as the Digital Asset Market Clarity Act.　　The omission does not prevent Senate leaders from adding the crypto bill later. However, no cloture motion had been filed on H.R. 3633 as of Tuesday, leaving lawmakers without the procedural step needed to move toward a vote.　　Analyst Ted Pillows said that if Senate leadership waited until Wednesday to file cloture, Friday would likely be the earliest day for a procedural vote.　　The Clarity Act is still not on the Senates floor schedule, making it increasingly difficult for lawmakers to pass the bill

08-05Industry

Samsung is poised to become a dominant stablecoin distributor, analysts say

By doing so, Samsung Wallet becomes the foundation for an interconnected financial ecosystem across Galaxy devices and services — where it combines payments, rewards, and digital assets into a single unified experience, he said.　　If it follows through, over 800 million would potentially have access to Galaxys stablecoin features and other crypto without requiring a separate crypto app or exchange account. Already, there are over one billion active Samsung smartphones worldwide.　　Stablecoins and infrastructure　　During its Q2 earnings call last week, Samsung SDS CEO Lee Jun-hee said that the companys stake in crypto exchange Upbit operator Dunamu is a strategic investment to enter the digital asset infrastructure business, including stablecoins and AI-powered payments.　　Three Samsung affiliates agreed in May to acquire a 4% stake in Dunamu, the operator of South Koreas largest cryptocurrency exchange, Upbit, for $408 million. Samsung Securities, Samsung SDS and Samsung Card are the affiliates involved in the deal.　　“This is the other half of the same strategy, and from a deal perspective, it is the more telling half,” said Goh. “The wallet announcement secured distribution; SDS and Dunamu will secure the infrastructure beneath it.”　　Goh said he believes Samsung is aiming to build the infrastructure itself, rather than rely on a third-party

08-05Industry

BNY taps Galaxy for institutional crypto staking

BNY is adding Galaxys staking infrastructure to its digital asset custody platform, giving eligible institutional clients access to custody and staking through one servicing model.　　SummaryGalaxy will provide institutional stakingthrough BNYs Digital Asset Custody platform.The service remains subject to regulatory reviewand will be limited to eligible clients.BNY is also developing onchain transfer agency and tokenized Treasury infrastructure.BNYs Belgian subsidiary recently received MiCA authorizationfor crypto custody and transfers.　　BNY adds staking to institutional crypto custody　　Galaxy said it has entered a strategic collaboration with BNY to integrate staking into the banks Digital Asset Custody platform. The arrangement will combine asset safekeeping and staking within a single institutional workflow.　　Eligible clients will be able to use staking alongside BNY services such as fund accounting, tax reporting, payments and client reporting, where applicable. Galaxy will supply the staking infrastructure and act as a design partner for BNYs broader digital asset platform.　　The companies said the model could simplify institutional participation in proof-of-stake networks by reducing the need to coordinate between separate custody and staking providers. Client assets would remain within BNY‘s institutional custody framework while accessing Galaxy’s staking capabilities.　　You might also like:　　BNY unlocks USDC minting and redemption for institutional clients　　However, the companies did not disclose which proof-of-stake assets

08-05Industry

SpaceX earnings test AI ambitions after 50% stock drop

SpaceX shares rebounded ahead of the companys first quarterly report since its June IPO, as investors looked beyond an expected $1.9 billion loss toward its AI infrastructure plans and Starlink growth.　　SummarySpaceX is expected to report $6.8 billion in quarterly revenueand a $1.9 billion loss.Bernstein maintained its Outperform rating and $239 price targetbefore the results.SPCX remains more than 50% below its $225.64 highdespite its latest rebound.Investors are watching Starship reuse, Starlink growth, and AI computing demandfor signs of long-term value.　　SpaceX earnings put AI strategy in focus　　SpaceX is scheduled to publish its second-quarter results after the U.S. market closes on Tuesday, marking its first earnings report as a public company.　　Analysts expect the company to post revenue of about $6.8 billion and a net loss near $1.9 billion. Starlink growth is expected to offset some of the losses from SpaceXs launch and artificial intelligence operations, according to estimates cited by CBS News.　　The headline financial figures may receive less attention than managements outlook for AI infrastructure. SpaceX has been developing plans to deploy space-based data centers, which would use satellite networks to provide computing capacity.　　You might also like:　　Can SpaceX earnings revive SPCX stock after its 52% plunge？　　The companys AI strategy also includes terrestrial infrastructure

08-05Industry

Ethereum researchers propose burning validator rewards to cap staking at 50%

Quick TakeThe “Tapered Issuance Burn” Ethereum Improvement Proposal would gradually burn a rising share of validator rewards as the staking ratio climbs, driving ETH inflation to zero once about 50% of ETH is staked.Critics of the proposal, submitted days before a Hegota inclusion deadline, say the plan could negatively impact solo stakers, liquid staking tokens, DeFi yields and Ethereums long-term security.　　A group of Ethereum researchers, including Justin Drake, published a draft Ethereum Improvement Proposal that would introduce a “tapered issuance burn,” deducting and permanently destroying a portion of validators “idealized” rewards that scales with the networks overall staking ratio.　　The proposal, authored by pintail, Jérôme de Tychey, dapplion, pa7x1, Ladislaus von Daniels and Ethereum Foundation researcher Drake, sets a saturation balance of about 60.25 million ETH — roughly half the current supply — at which the burn fraction reaches 100% and net consensus-layer issuance for performing duties falls to zero.　　In other words, a rising portion of each validators rewards would be burned as the total amount of staked ETH grows. At roughly 50% of all ETH staked, the burn would cancel out those rewards completely.　　The authors argue that the current system still pays a small yield no matter how much is

08-05Industry

Wells Fargo to launch tokenized deposits this fall

Wells Fargo plans to launch tokenized deposits this fall, allowing corporate and commercial clients to move and settle funds outside traditional banking hours.　　SummaryThe initial pilot will support U.S. dollar-to-British pound transactionsfor selected corporate clients.Tokenized deposits will enable 24/7 fund transfers, settlement and programmable paymentson the banks blockchain platform.Wells Fargo plans to add more clients, countries and currencies throughout 2027.The rollout follows its WFUSD trademark filingand growing exposure to crypto-linked investment products.　　Wells Fargo tokenized deposits will support 24/7 settlement　　Per an Aug. 4 WSJ report, Wells Fargo said the service will allow participating clients to transfer, program and settle funds around the clock within a regulated banking framework. The initial rollout will cover transactions between the U.S. dollar and British pound.　　Unlike conventional bank transfers, which can face market-hour restrictions and settlement delays, tokenized deposits represent customer funds as digital tokens on a blockchain. This structure can support near-continuous settlement while keeping the deposits within the banking system.　　The program will run on Wells Fargos proprietary blockchain platform, which supports internal custodial wallets. The bank said future offerings could also use its interchain connectivity technology to communicate with other blockchain networks.　　“The program will roll out this fall with a limited U.S. dollar (USD) to

08-05Industry

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