Articles by Khal
Latest from Khal
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FBI warns crypto ATM scams hit $11B as AI deepfakes surge
The FBI's 2025 Internet Crime Report shows cryptocurrency complaints topped $11 billion in losses, with crypto kiosk scams rising 23% in complaints and 58% in losses. Scammers use AI-generated deepfakes and voice clones to direct victims to ATM-like devices where transactions cannot be reversed.
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Bitcoin and Ether ETFs Post Outflows as Institutional Momentum Stalls
U.S. spot bitcoin ETFs lost $95 million on Thursday while ether funds shed $52 million, snapping a five-day inflow streak as institutional investors remain sidelined despite modest price gains across both assets.
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XRP breaks $1.10 resistance on late-session volume surge
XRP climbed 1.8% to $1.1026 after a late-session volume spike pushed the token through $1.10 resistance. Traders are now watching whether the level can hold as support for a potential move toward $1.13 or higher.
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Bitcoin bounces to $62,700, remains below Glassnode cost-basis levels
Bitcoin climbed from $58,300 to $64,400 then retreated to $62,700 over the past week, still trading below Glassnode's True Market Mean of $76,600 and short-term holder cost basis of $72,200. Long-term holder losses peaked at $280 million per day, the highest since December 2022, as the network enters the later stages of a bottoming process.
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Phantom, Hyperliquid urge CFTC to exempt blockchain developers from derivatives rules
Phantom and the Hyperliquid Policy Center asked the CFTC to clarify that blockchain developers and non-custodial wallet providers don't need to register as financial intermediaries, arguing existing rules were designed for traditional custodians.
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Perplexity Fine-Tunes GLM 5.2 to Match Claude Opus at One-Third Cost
Perplexity released a post-trained version of Z.ai's GLM 5.2 model that delivers near-frontier performance at approximately one-third the cost of Claude Opus 4.8, using an "advisor tool" to route complex queries to more expensive models only when needed.
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Grayscale CFO Edward McGee exits after seven years
Edward McGee, Grayscale's chief financial officer, stepped down effective July 2 after seven years at the crypto asset manager. His departure follows the exit of the firm's distribution head weeks earlier and comes as Grayscale pauses its IPO preparations.
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Coinbase Chief Legal Officer Paul Grewal Departs After SEC Victory
Paul Grewal, who led Coinbase through a years-long regulatory battle with the SEC, is leaving his role as chief legal officer to join a startup, though he'll stay on as an adviser. Molly Abraham and Ryan Van Grack take on expanded legal responsibilities.
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Arbitrum ARB jumps 19% as Robinhood Chain hits $568M weekly volume
Robinhood Chain, built on Arbitrum's technology stack and launched to the public a week ago, processed over $568 million in daily trading volume on Wednesday, driven largely by memecoin activity. ARB token jumped 19% in 24 hours, and 10% of the chain's protocol revenue flows back to the Arbitrum ecosystem.
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Digital Asset Market Clarity Act draft expected next week as Senate vote looms
A new draft of the Digital Asset Market Clarity Act could surface as soon as next week for Senate action in late July, though negotiators still lack Democratic support and face unresolved issues on ethics rules and regulatory gaps.
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Sony Bank gains OCC preliminary approval for US dollar stablecoin
Sony Bank received preliminary approval from the Office of the Comptroller of the Currency to establish a stablecoin issuance business through a new subsidiary, Connectia Trust, National Association, backed by $40 million in starting capital.
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Revolut delists USDT in EEA and Switzerland, maintains support elsewhere
Revolut said its planned delisting of Tether's USDT stablecoin will affect only customers in the European Economic Area and Switzerland, while the stablecoin remains available in other markets. The move follows a compliance review under the EU's Markets in Crypto-Assets Regulation.
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Marathon Digital Acquires 1,200-Acre Texas Site for Bitcoin Mining, AI
Marathon Digital Holdings announced a deal to acquire over 1,200 acres in Matagorda County, Texas, with access to up to 2 gigawatts of power by spring 2027. The acquisition, which sent MARA shares up 15%, signals the shift of Bitcoin miners into broader infrastructure development.
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Compass Point: AI contracts undervalue TeraWulf, Cipher Mining
Compass Point analysts argue markets are undervaluing former bitcoin miners like TeraWulf and Cipher Mining based on their contracted AI infrastructure pipelines, while Core Scientific already reflects its lease income in current valuations.
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Hyperliquid dominates onchain perps, challenges Wall Street: Pantera
Perpetual futures on blockchain infrastructure are expanding into equities, commodities and indices, with Hyperliquid accounting for 40% of onchain perps volume and ranking as the fourth-largest fee-generating crypto protocol, according to Pantera Capital.
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Bank of Korea pushes bank-led won stablecoin amid Digital Asset Act delays
South Korea's central bank reiterated its push for bank-controlled won stablecoins while advancing deposit token pilots, as disagreements over issuer rules continue to stall the nation's Digital Asset Basic Act.
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Labour MPs Push to Make UK Crypto Donation Ban Permanent
Labour lawmakers have tabled amendments to the Representation of the People Bill to make the UK's moratorium on cryptocurrency political donations permanent, citing concerns over foreign interference and anonymity risks highlighted by the Rycroft Review.
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Ethereum Institutional Launches to Guide Banks Into Crypto
Ethereum Institutional, a new nonprofit led by David Walsh, Matthew Dawson and Marius Smith, aims to serve as a neutral guide for financial institutions exploring Ethereum, filling a gap left by the Ethereum Foundation's narrowed focus on protocol development.
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Bitcoin-Priced Houses Reveal Dollar Debasement Since 2020
A typical U.S. house has gained over $100,000 since 2020, but when priced in Bitcoin, it costs 90% less—a sign that home prices are rising not because houses are worth more, but because the dollar is worth less.
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Ethereum trader loses $1M to phishing token approval scam
A crypto user lost nearly $1 million in USDT after signing a malicious token approval on Ethereum. The incident highlights approval phishing as a dominant attack vector in 2025, when onchain scams pulled in at least $14 billion.
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Former BOJ official warns of rapid rate hikes as yen weakens
A former Bank of Japan official cautioned that the central bank may accelerate interest-rate increases this year, potentially pushing the benchmark rate above 2% as the yen continues its slide against the U.S. dollar.
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Pentagon awards $80.5M to AeroVironment for AI counter-drone system
The US military contracted AeroVironment for an $80.5 million AI-powered counter-drone shield for nuclear facilities, the first delivery under a $500 million defense contract aimed at protecting military installations from aerial incursions.
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BNB Chain targets 1M TPS with AI agents as token hits 2024 lows
BNB Chain is overhauling its architecture to process 1 million transactions per second and integrate protocol-level privacy, targeting traditional finance and autonomous AI agents. The pivot comes as BNB token has fallen more than 35% this year to $563, its lowest since October 2024.
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XRP Washout Clears Leverage; ETF Demand Must Sustain Rally
XRP fell to $1.02 in late June, triggering liquidations and shrinking futures activity. The washout reduced forced-selling risk, but spot volume and ETF creations must carry the next move. XRP now trades near $1.08, up 2.7% over seven days.