Articles by Khal
Latest from Khal
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Metaplanet Stock Falls 87%, Bitcoin Treasury Triples to 40,177 BTC
Tokyo-listed Metaplanet has aggressively expanded its Bitcoin holdings to 40,177 BTC despite a severe stock decline, becoming the world's third-largest corporate cryptocurrency treasury with a cost basis of $4.18 billion.
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Tether surpasses Ether by market cap as ETH crashes to $1,510
Tether's USDt stablecoin became the second-largest cryptocurrency by market cap at $186 billion as Ether crashed 5.2% in 24 hours to $1,510, marking its lowest price of the year and a critical support level not seen since October 2023.
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USMNT loses to Turkey 3-2, advances to face Bosnia in knockout
The USMNT fell 3-2 to Turkey on June 25 in their final Group D match, but had already secured enough points to finish first and advance to the knockout stage. Coach Mauricio Pochettino rested key players, including Christian Pulisic, prioritizing long-term success over the result.
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Inero departs Cloud9 League of Legends head coach role after eight months
Nick "Inero" Smith has departed as head coach of Cloud9's League of Legends team after approximately eight months in the role, marking the latest turnover in the organization's coaching ranks.
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Katia Itzel García: First Mexican Woman to Referee FIFA World Cup
Katia Itzel García, a 33-year-old Mexican referee, made history on June 25 by becoming the first woman from Mexico to officiate a men's FIFA World Cup match, taking charge of Tunisia vs. Netherlands in Kansas City.
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Saudi Aramco Resumes Crude Loading at Ras Tanura After 4-Month Halt
Saudi Aramco resumed crude oil loading at Ras Tanura, one of the world's largest export terminals, on June 25 after a nearly four-month shutdown triggered by a March 2 fire. The restart eases global supply constraints and signals reduced geopolitical risk around the Strait of Hormuz.
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StablecoinX debuts on Nasdaq as Ethena's USDe supply collapses 70%
Stablecoin infrastructure company StablecoinX completed its merger with TLGY Acquisition Corp and began trading on Nasdaq on Friday under ticker USDE, even as Ethena's USDe stablecoin has lost 70% of its circulating supply from October peaks amid a broader crypto downturn.
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Taiwan margin debt hits NT$600B record, echoing dot-com bubble risks
Taiwan's retail margin debt surged to NT$600 billion as of June 2026, surpassing the dot-com bubble peak and signaling potential market instability as leverage levels reach historic highs amid AI-driven gains.
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Hong Kong dollar hits 10-month low, testing decades-old currency peg
The Hong Kong dollar weakened to approximately 7.84 against the US dollar on June 24-25, approaching the upper boundary of its fixed exchange rate band. Interest rate differentials and the timing of new stablecoin regulation highlight structural vulnerabilities in the peg.
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Netherlands beats Tunisia 3-1; crypto prediction markets surge on World Cup
The Netherlands' 3-1 victory over Tunisia drew significant crypto trading activity, with prediction markets and blockchain-backed fan tokens capitalizing on World Cup momentum. Kraken's FIFA sponsorship and Chiliz's token rally underscore crypto's growing role in sports, though volatility poses long-term risks.
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Domyn plans 400B open-source AI model for European regulated sectors
Domyn, a Milan-based AI company formerly known as iGenius, plans to release a 400-billion-parameter open-source model within a year, backed by NVIDIA hardware and targeting European financial services, government, and defense institutions seeking alternatives to US proprietary platforms.
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Solana Mobile dApp Store hits 1,561 listings with 96 apps added in one week
Solana Mobile's dApp Store added 96 new applications in a single week, reaching 1,561 total listings. The platform charges developers zero fees, undercutting Apple and Google's 30% and 15-30% commissions respectively.
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Croatia vs Ghana World Cup match fuels crypto prediction market surge
Crypto traders are capitalizing on the Croatia vs Ghana Group L fixture at the 2026 World Cup through Polymarket bets and Chiliz fan token plays, with betting volume exceeding $500K despite the absence of dedicated national team tokens.
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CFTC proposes futures-based reporting framework for event contracts
The CFTC published a proposed rule on June 25 that would shift fully collateralized event contracts from swap reporting to futures-based compliance, ending 9 years of temporary regulatory relief and signaling a comprehensive overhaul of the event contract space.
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JDG Esports adds BerLIN, crownfisher to VALORANT roster for VCT China Stage 2
JDG Esports has reshuffled its VALORANT roster ahead of VCT China Stage 2, adding in-game leader BerLIN from FunPlus Phoenix and promoting crownfisher from its academy team, while moving coconut off the active lineup.
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Gold steadies near $4,000 as US inflation eases rate-hike bets
Gold stabilized near $4,000 per ounce on June 25 after US inflation data met expectations, reducing September rate-hike odds from 68% to 63%. The metal has lost roughly 25-28% since January's peak of $5,589, pressured by a stronger dollar and capital rotation toward equities.
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Netherlands beats Tunisia 2-1; World Cup prediction markets hit $93.6K
The Netherlands defeated Tunisia 2-1 in a FIFA World Cup 2026 Group F match on June 25, generating $93.6K in prediction market volume. CHZ, Chiliz's fan engagement token, climbed 28% on World Cup momentum as crypto adoption in sports continues to expand.
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Treasury Issues General License 60 for Venezuela Earthquake Humanitarian Aid
The US Treasury Department issued General License 60 through OFAC to enable humanitarian organizations to deliver earthquake relief to Venezuela without violating sanctions, following twin quakes that killed at least 188 people and left over 45,000 missing.
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Iran strikes Singapore cargo ship in Strait of Hormuz
Iran's Islamic Revolutionary Guard Corps attacked a Singapore-flagged container ship in the Strait of Hormuz on June 25, the first Iranian assault on a cargo vessel since a US-Iran ceasefire was reached in mid-June. The strike damaged the ship's bridge and threatens to disrupt global trade flows through one of the world's most critical shipping lanes.
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Bitcoin bounces off 2026 lows as ETF outflows weigh on price
Bitcoin recovered to $59,500 after hitting its lowest level since September 2024, but spot ETF outflows, a bearish options expiry and MicroStrategy's mounting losses suggest further downside risk amid rising rate expectations.
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Polymarket Refunds Users After $3M Vendor Hack Drains Accounts
Hackers infiltrated Polymarket's website through a compromised third-party vendor, stealing approximately $3 million from fewer than 15 user accounts. The prediction market said it's refunding affected customers in full.
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Bitcoin options traders hedge downside amid market uncertainty: Anchorage
Bitcoin options traders are heavily positioned for downside protection across crypto-native and ETF markets, with defensive hedges ranking in the 82nd to 84th percentile of historical levels, according to Anchorage Digital analysis.
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SBI Holdings acquires Bitbank for $289M, creating Japan's largest crypto exchange
SBI Holdings announced Thursday it will acquire Tokyo-based crypto exchange Bitbank for roughly $289 million, pending regulatory approval. The combined firm would hold $6.8 billion in assets under custody and serve 2.92 million accounts.
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CoinEx denies knowingly aiding Iran's crypto market despite $3.84B flow
TRM Labs reported that over $3.84 billion has flowed between CoinEx and more than 60 Iranian platforms, with the Seychelles exchange serving as the "single biggest lifeline" for Iran's crypto ecosystem. CoinEx rejected the allegations, saying it operates as a neutral global exchange with no state ties.