Articles by Khal
Latest from Khal
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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.
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MicroStrategy STRC hits record Bitcoin correlation, eroding yield appeal
MicroStrategy's perpetual preferred stock STRC has reached its highest correlation with Bitcoin since launch, climbing to 0.70 over 90 days. The tightening link undermines STRC's original appeal as a steadier income vehicle while the stock trades well below par value.
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Stanford AI system compresses drug discovery from months to days
Stanford researchers led by Professor James Zou deployed coordinated AI agents that generated 92 novel molecular candidates targeting COVID-19 in days, a task that typically requires weeks or months of lab work.
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Optimism co-founder: AI agents could unlock mainstream Web3 adoption
Karl Floersch argues that autonomous AI agents managing trading and smart contracts could lower barriers for everyday users to participate in Web3, though governance and regulatory questions remain unresolved.
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XRP hits $1.01 low as whales accumulate and exchange reserves shrink
XRP hit $1.01 on Thursday, its weakest price of 2026, but onchain metrics show whale accumulation and sustained exchange outflows that may indicate institutional buying pressure beneath the surface.
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Kraken and Maple Launch Onchain Warehouse Facility for Institutional Crypto Loans
Kraken and Maple have launched an onchain warehouse financing facility that applies traditional credit-market lending structures to institutional digital asset loans, allowing Kraken to expand OTC lending without depleting balance-sheet capital.
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Bithumb fined $136K by South Korea for unauthorized overseas data sharing
South Korean authorities fined cryptocurrency exchange Bithumb $136,000 after an investigation found it transferred personal information overseas without proper consent, including sharing Tether order books with unauthorized partners.
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Generative AI economy hits $110B annual sales, Exponential View reports
Exponential View's inaugural State of the AI Economy report, published June 25, 2026, reveals the generative AI sector generated over $110 billion in sales over the past year, with an annualized run rate exceeding $175 billion based on data from over 1,000 companies.
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Strategy STRC hits record low as effective yield soars above 14%
Strategy's preferred stock plunged to $73.65 on Thursday as Bitcoin fell below $60,000, lifting STRC's effective yield above 14% and straining the company's dividend funding model.
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Payward sues PowerTrade over $7M misappropriation claim
Payward, the parent company of Kraken, filed a lawsuit against crypto derivatives platform PowerTrade alleging approximately $7 million in misappropriation. The action marks the second major fund-recovery lawsuit Payward has launched in recent months, with combined claims now exceeding $32 million.
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Haiti's World Cup return shows crypto's limits in sports fan engagement
Haiti qualified for the 2026 FIFA World Cup on November 18, 2025, ending a 52-year absence and scoring in its first match. Yet the national federation launched no official crypto project or fan tokens, highlighting the gap between emotional fan narratives and sustainable blockchain-based economies.
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Kraken sues PowerTrade over $7.2M in misappropriated funds
Payward, Kraken's parent company, filed a lawsuit against crypto derivatives firm PowerTrade, claiming the platform's founders misappropriated $7.2 million through unauthorized retroactive trade cancellations that converted a $6 million account surplus into a $2 million deficit.
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SBI Holdings completes $289M Bitbank acquisition, Japan's largest crypto exchange
SBI Holdings finalized its 46.7 billion yen deal to acquire full control of Bitbank, creating Japan's largest crypto exchange by assets under custody. The transaction, expected to close in October, combines roughly 2.92 million accounts and 1.1 trillion yen in assets.
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CZ Says Prison Strengthened Business Trust, Not Damaged It
Changpeng Zhao, the pardoned founder of Binance, says his four-month prison sentence for Bank Secrecy Act violations hasn't hurt his venture-capital prospects and has instead deepened business partners' trust in him once they understand the non-fraudulent nature of his conviction.
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Binance restricts EU services July 1 after failing to secure MiCA authorization
Binance will halt onboarding of new EU users and limit certain services starting July 1 under MiCA rules after failing to gain authorization from a member state. Existing users can withdraw assets and manage positions.
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MicroStrategy stock crashes to 52-week low as Bitcoin recovers after Micron earnings
MicroStrategy's stock fell 9.35% to a 52-week low on Wednesday as its treasury strategy faced fresh stress, while Bitcoin recovered to $61k following a positive earnings surprise from Micron.
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Bitcoin derivatives signal panic ahead of core PCE data
Bitcoin options markets are pricing in downside risk with a 25-point put-call skew, echoing February's capitulation lows. A softer-than-expected core PCE reading could spark a bullish reversal.
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CoinEx denies $3.84B gateway role to sanctioned Iranian crypto firms
TRM Labs traced more than $3.84 billion in flows between CoinEx and sanctioned Iranian entities over seven years, but the Seychelles-registered exchange disputes the findings, citing the traceable nature of blockchain transactions.
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Kalshi Seeks $40B Valuation Weeks After $1B Raise
Prediction market Kalshi is in talks to raise fresh funds at a $40 billion valuation, nearly double its $22 billion price tag from last month, as regulatory battles escalate across multiple states.
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Micron surges 16% on blowout earnings, lifts AI memory stocks
Micron Technology delivered third-quarter earnings that crushed expectations, with revenue of $41.5 billion versus $35.7 billion forecast, driving a 16% premarket surge and lifting the entire AI memory sector.
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Shiba Inu bounces off lows, but reversal far from confirmed
Shiba Inu printed a modest recovery candle after weeks of selling pressure drove it to $0.0000043–$0.0000044, but a single bounce doesn't signal a trend reversal. The asset remains below all major moving averages and needs sustained buying to confirm any rally.
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Raise US Announces $500M AI Jobs Program Without Disclosing Backers
Raise US, a newly announced organization, plans to deploy $500 million over three to four years on AI workforce development, but has not publicly disclosed its leadership, funding sources, or political backers.
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Amazon commits $48 billion to India through 2030 for AI and jobs
Amazon announced a $48 billion investment in India through 2030 aimed at AI infrastructure, cloud computing, and job creation, building on nearly $40 billion already deployed since 2010. The pledge includes support for 15 million small businesses and 4 million students in government schools.