Articles by Khal
Latest from Khal
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Australia's crypto travel rule takes effect July 1 with no minimum threshold
Australia's crypto travel rule came into force on July 1, requiring exchanges to collect additional information on all outgoing and incoming transfers, aligning the country with similar rules in the EU, US, and UK.
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XRP Ledger Lending Protocol enters validator voting phase
The XRP Ledger is moving toward a new phase focused on financing value, with a native Lending Protocol entering the validator voting phase to provide yield to crypto holders and capital access to institutions.
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Bitcoin and Ethereum ETFs see $261M outflows in eight-day withdrawal streak
US spot Bitcoin ETFs lost $231 million and Ethereum products shed $30 million on June 29, extending a streak of net withdrawals to eight consecutive days. June 2026 is tracking toward over $4 billion in monthly outflows, the largest since these products launched in January 2024.
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Quant funds post worst five-day drawdown since 2023 amid volatile unwinding
Systematic long-short equity funds posted their worst multi-day run since 2023 in early January 2026, with major quant managers losing between 2.8% and 6% as deleveraging events and crowded trades triggered sharp reversals.
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Tether hits 7–10% premium on Indian exchanges amid supply-demand gap
USDT traded at a 7–10% premium above its dollar value on Indian crypto platforms over the weekend, a spike from the usual 3–4% gap. Executives at CoinDCX and CoinSwitch attribute the widening premium to local liquidity constraints and organic market dynamics rather than exchange manipulation.
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Moca Network partners with Turkish crypto providers for Web3 identity
Moca Network, backed by Animoca Brands, has partnered with Inveo Kripto and Ichain Investment Holding to deploy regulated digital identity and crypto services in Türkiye, a top-five global crypto adoption market targeting 86 million potential users.
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X launches hosted MCP servers for AI developer integration
X deployed official hosted Model Context Protocol servers that eliminate local infrastructure setup for developers integrating X data into AI tools, covering over 200 API endpoints with OAuth 2.0 authentication.
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Upbit lists Gensyn ($AI) with KRW pair for Korean investors
Korea's largest crypto exchange Upbit began trading Gensyn ($AI) on June 30, 2026, offering direct local-currency access to the decentralized computing network. The listing marks a major step for the two-month-old project, which raised $78 million and already trades on Binance and Coinbase.
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Bitmine lifts Ether holdings to 5.7M as it joins Russell 1000
Bitmine purchased roughly $43 million worth of Ether last week upon joining the Russell 1000 Index, bringing its holdings to 5.7 million tokens and narrowing the gap to its 5% supply target.
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China tightens offshore fundraising rules, straining local debt markets
China's National Development and Reform Commission has extended approval timelines for offshore bond quotas and restricted short-term LGFV issuances, creating headwinds for local government financing vehicles managing $35 billion in 2026 maturities.
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China's Manufacturing PMI Expands to 50.3 as AI Exports Surge
China's manufacturing PMI hit 50.3 in June, beating forecasts, as exports of AI-related hardware surged 66.1% year-on-year. Yet the employment sub-index contracted, raising questions about job creation amid the export-driven boom.
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Ionic Digital files S-1 for Nasdaq direct listing under ticker IOND
Ionic Digital, the mining company born from Celsius Network's bankruptcy, filed for a Nasdaq direct listing on June 29, 2026, after closing a $400 million private placement at a $2 billion valuation. The firm is repositioning as an AI infrastructure provider.
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Indiana Bitcoin mining hub repurposes military bases, coal plants
Indiana is attracting Bitcoin miners by repurposing decommissioned military bases and retired coal plants, with Terra Hosting and other operators launching or expanding operations in recent months. The trend could diversify the state's energy economy and foster tech investment.
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Singapore flags Hyperliquid; Indonesia certifies crypto influencers
Singapore's financial regulator added Hyperliquid to its Investor Alert List on Friday, joining Bybit and others. Indonesia introduced certification requirements for influencers promoting crypto. South Korea fined Bithumb $136,000 for data breaches, while Japan's SBI Holdings agreed to acquire Bitbank.
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Taiwan raids Super Micro Computer in Nvidia chip smuggling probe
Taiwanese prosecutors searched Super Micro Computer's Taiwan offices and residences of six individuals on June 29 as part of an expanding investigation into alleged illegal exports of Nvidia AI chips to China, following US federal charges unsealed in March.
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Luxshare targets $3.1B Hong Kong IPO, largest of 2026
Chinese electronics manufacturer Luxshare Precision Industry is seeking up to $3.1 billion in proceeds from a secondary listing on the Hong Kong Stock Exchange, marking the year's largest IPO and opening the company to global institutional investors.
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Gold falls 1.2% as US-Iran ceasefire signals create market uncertainty
Gold prices fell 1.2% in early June as conflicting statements from President Trump and Iranian officials on ceasefire negotiations created market uncertainty, while Bitcoin surged above $65,000 amid optimistic peace signals.
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Iran eliminated from 2026 World Cup after 1-1 draw with Egypt
Iran drew 1-1 with Egypt on June 26 at the 2026 World Cup in Seattle, finishing with three group-stage draws and zero points from victories. A stoppage-time goal was ruled offside by VAR, confirming their elimination and extending their record of never reaching the knockout stage in seven World Cup appearances.
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Trump Orders DOJ Probe Into Oil Pricing After Accusing Majors of Gouging
President Trump accused major oil companies of price gouging on June 24 and ordered the Department of Justice to investigate their pricing practices, citing a gap between crude oil declines and gasoline price drops.
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DeepReinforce releases Ornith, open-source coding model for autonomous agents
DeepReinforce released Ornith-1.0, a family of open-source coding models designed for agentic AI tasks. The flagship 397 billion parameter model scores 82.4 on SWE-bench Verified, outperforming Claude Opus and DeepSeek-V4-Pro.
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Maersk raises 2025 profit guidance on European demand surge
A.P. Moller-Maersk lifted its full-year EBITDA forecast to $8-9.5 billion, citing strong container demand outside North America, but cautioned that a wave of new vessel deliveries will depress earnings significantly in 2026.
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China launches Tulong Feng AI as Anthropic restricts Mythos
Qihoo 360 unveiled Tulong Feng, a Chinese alternative to Anthropic's restricted cybersecurity AI, while Z.ai released an open-weight model that matches Claude's performance at a fraction of the cost.
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Senate leaders push CLARITY Act passage before July 13 recess
Republican Senate leaders are racing to pass the CLARITY Act within a four-week window before July 13 recess, but President Trump's recent move to block another bill has cast doubt on the cryptocurrency regulation measure's future.
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Supreme Court overturns 91-year precedent, lets Trump fire SEC and CFTC commissioners
The Supreme Court's 6-3 decision to overturn a Franklin Delano Roosevelt-era rule allows President Trump and future presidents to fire federal agency commissioners at any time for almost any reason, reshaping crypto regulation as the Clarity Act faces a critical deadline.