Articles by Khal
Latest from Khal
-
Forward Industries deposits $32M SOL to Coinbase Prime after month idle
Forward Industries, the largest corporate holder of Solana with 6.83 million tokens, transferred roughly $31.87 million worth of SOL to Coinbase Prime on June 5 after a month of inactivity, signaling potential shifts in its custody or trading strategy.
-
South Korea stock market hit by $30.7B foreign investor exodus
Foreign investors yanked roughly $30.7 billion from South Korean equities across a 12-session selling streak through late May, hammering the KOSPI and currency as profit-taking and geopolitical tensions converge.
-
Binance Research: Crypto Exchanges Could Channel $5T Into Equity Markets by 2031
Binance Research released a report projecting crypto exchanges could funnel up to $5 trillion annually into global stock markets over five years, with a base case of $2 trillion by 2031 and 300 million new investors from emerging economies.
-
Trump confident on US-India trade deal after New Delhi talks
President Trump said on June 5 that he believes the US and India will reach a trade deal, citing a projected $500 billion in Indian purchases of American goods over five years. Four days of negotiations in New Delhi concluded with both sides describing talks as constructive.
-
JPMorgan, Citi, BofA, Wells Fargo launch tokenized deposit network in 2027
JPMorgan Chase, Citigroup, Bank of America, and Wells Fargo are building a shared tokenized deposit network with The Clearing House, targeting a 2027 launch to compete with stablecoins by combining crypto speed with traditional banking security.
-
House committee circulates seven crypto tax bills ahead of Tuesday hearing
The US House Ways and Means Committee released draft legislation addressing digital asset taxation, including proposals for de minimis reporting exceptions and reduced paperwork for crypto holders, ahead of a committee hearing chaired by Republican Jason Smith.
-
Zcash Vulnerability Exposes Privacy-Auditability Tradeoff
A four-year-old vulnerability in Zcash that could enable undetectable counterfeiting was patched this week, triggering a 33% price drop and renewed debate over whether privacy-focused blockchains can ever achieve full transparency.
-
Strategy Shares Hit 4-Month Low as Bitcoin Dips Below $60K
Strategy's stock fell to a four-month low on Friday alongside a sharp Bitcoin pullback. The firm's preferred stock STRC also declined, though analysts say the move is within normal range.
-
Mainland investors pull record 24.6B yuan from Hong Kong ETFs
Mainland Chinese investors withdrew a record 24.6 billion yuan from Hong Kong equity ETFs in a single week, marking the largest weekly outflow on record. The capital is flowing into domestic AI and semiconductor stocks, signaling a strategic shift in investment focus within China's markets.
-
US Tech Companies Announce 38,000 Job Cuts Amid AI Infrastructure Spending
US technology companies announced 38,242 job cuts in May, the highest monthly total since August 2024, with artificial intelligence cited as the top reason for workforce reductions for the third consecutive month.
-
Trump announces $700M federal support package for US coal plants citing national security
The Trump administration announced nearly $700 million in federal support for the US coal industry on June 4, invoking Cold War-era emergency powers to justify the spending as essential for national security and AI data center reliability.
-
Kraken Launches SpaceX IPO Access via xStocks for 110+ Markets
Kraken announced that eligible users in more than 110 markets can register for tokenized SpaceX equity through xStocks IPO Access ahead of the company's highly anticipated public listing expected in June.
-
House Republicans introduce seven crypto tax bills ahead of Ways and Means hearing
House Republican leadership circulated seven new crypto tax bills—the first congressional leadership effort focused on crypto taxation—ahead of a House Ways and Means Committee hearing on digital asset taxation set for Tuesday.
-
Solana Mobile Launches dApp Spotlight for Curated App Discovery
Solana Mobile introduced dApp Spotlight, a curated discovery tool within the Solana dApp Store designed to surface quality applications. The feature pairs user ratings with editorial curation to help Seeker device users navigate over 225 available dApps.
-
Pump.fun bounty platform funds memecoin tattoos and dangerous stunts
Pump.fun launched an open bounty marketplace where users posted crypto rewards for bizarre promotional tasks, including $2,630 for forehead tattoos and $57,000 for skydiving into a World Cup match as a memecoin mascot.
-
Bitcoin falls below $60K on strong US jobs data
Bitcoin dipped to $59,825 on Friday, its lowest level since October 2024, after stronger-than-expected US labor market data strengthened the dollar and triggered a broad crypto selloff. The asset recovered above $61,000 by press time.
-
House Ways and Means advances seven crypto tax bills for June hearing
The House Ways and Means Committee is circulating seven draft bills to ease tax burdens on crypto mining, staking, and small transactions before a June 9 hearing, marking a fresh push to clarify digital asset taxation.
-
Bitcoin falls below $60K after May jobs report beats expectations
Bitcoin dropped 4.8% in 24 hours to near $60,769 after a stronger-than-expected May jobs report pushed markets toward higher yields and a stronger dollar, pressuring crypto assets sensitive to liquidity conditions.
-
Alsobrooks ties Clarity Act support to ethics agreement before Senate vote
Maryland Democrat Angela Alsobrooks said she won't back the bipartisan Clarity Act on the Senate floor unless negotiators resolve ethics provisions and other outstanding issues.
-
Dow surges 900 points as investors rotate from tech to healthcare and banks
The Dow Jones closed at a record 51,561.93 after a sharp late-session rally, as investors shifted capital out of technology stocks into healthcare and financial names, signaling a potential sector rotation.
-
Zcash Orchard exploit reveals cryptographic supply integrity gap
A security researcher at Shielded Labs discovered a critical exploit in Zcash's Orchard protocol using AI on May 29, which could have generated unlimited counterfeit ZEC. Zcash executed emergency forks within days, but the privacy design makes proving the supply was never tampered with cryptographically difficult.
-
Supreme Court: SEC can recover illegal gains without proving investor loss
The Supreme Court issued a unanimous 9-0 decision in Sripetch v. SEC on June 4, ruling the SEC can force securities law violators to disgorge illegal profits without first proving investor loss, resolving a circuit split and strengthening the agency's enforcement capabilities.
-
CoinDesk 20 index drops 4.8% as all constituents decline
The CoinDesk 20 index fell to 1681.25, down 4.8% since Thursday 4 p.m. ET, with all twenty constituents trading lower. Bitcoin dropped 2.8%, while Internet Computer slumped 14.6%.
-
Micron loses $94B as Broadcom AI guidance triggers $280B sector rout
Micron Technology shed roughly $94 billion in market value on June 4 after Broadcom slashed its AI chip guidance, sparking a broad semiconductor selloff that wiped out $280–$286 billion across the sector in a single day—the largest one-day loss in US market history.