Articles by Khal
Latest from Khal
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White-hat hacker recovers $2M from 2016 Hong Coin ICO smart contract
A pseudonymous white-hat hacker known as 0xflorent helped recover $2 million worth of Ether locked in a failed 2016 ICO smart contract, enabling refunds to 48 investors after nearly a decade through exploitation of an integer overflow vulnerability.
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BOJ rate hike looms as yen intervention fails to sustain currency rally
Japan spent $73.6 billion on yen interventions in May but the currency remains under pressure ahead of a June 15-16 BOJ meeting where markets price in a 78-81.5% probability of a rate hike.
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Israel's Lebanon expansion dims Iran peace deal odds in prediction markets
Israel's military expansion in southern Lebanon has coincided with a sharp drop in prediction market odds for a permanent Israel-Iran peace deal by June 30, 2026, falling from 12% to 9.8% in 24 hours.
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US Commerce closes Nvidia chip export loophole to China
The US Department of Commerce published new guidance on May 31 requiring licenses for advanced AI chip shipments to Chinese-headquartered entities worldwide, closing a year-long loophole that allowed hundreds of thousands of chips to reach China through Southeast Asian subsidiaries.
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Vast raises $200M, becomes China's latest AI unicorn
Beijing-based Vast, which builds AI-powered 3D modeling tools, closed a $50 million Series A round led by Alibaba Group and Hengxu Capital, crossing the $1 billion valuation threshold just three years after its 2023 founding.
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Powell Warns Fed Credibility at Risk if President Can Fire Officials
Federal Reserve Chair Jerome Powell warned that allowing a sitting president to dismiss Fed officials over policy disagreements would collapse the institution's credibility and destabilize markets. Powell's comments come as President Trump has threatened to remove him, and as central bank independence faces renewed political pressure.
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Mainland China posts first Hong Kong stock net selloff in nearly 3 years
Mainland investors recorded a net sell-off of HK$3.55 billion in Hong Kong stocks in May 2026, the first monthly outflow since June 2023. A regulatory crackdown on offshore brokers Futu and Tiger threatens to sustain selling pressure over the next two years.
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Coinbase launches direct INR deposits for Indian customers, targeting $3B market
Coinbase announced Monday the launch of direct INR rails for Indian customers, enabling deposits and withdrawals via IMPS starting June 1, 2026. The move targets India's $3 billion crypto market, ranked first globally for adoption.
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Fed and BoE clash on stablecoin future at Dubrovnik conference
Federal Reserve governor Christopher Waller said dollar-backed stablecoins strengthen US monetary influence, while Bank of England policymaker Megan Greene predicted they'll fade within years. The remarks reflect diverging views on stablecoin adoption as US lawmakers debate digital asset regulation.
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Security researcher recovers $2M in locked ETH from nine-year-old HongCoin bug
A white-hat security researcher discovered and fixed an integer-overflow vulnerability in the HongCoin ICO smart contract, recovering approximately $2 million worth of ETH that had been trapped since the 2016 token sale failed to reach its funding goal.
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Michael Saylor signals MicroStrategy Bitcoin purchases with cryptic tweet
Strategy chairman Michael Saylor posted a cryptic tweet Sunday accompanying a chart of the company's Bitcoin holdings, signaling imminent purchase announcements as the largest publicly traded crypto holder faces a critical proxy vote on dividend structure.
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$1.26B BlackRock IBIT Sale Was Rapid Exit, Not Basis Trade: NYDIG
A $1.26 billion block sale of BlackRock's Bitcoin ETF on May 26 was likely driven by a large investor seeking rapid exit from bitcoin exposure, not a hedge-fund basis-trade strategy, according to NYDIG analysis.
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EU proposes 0.1% crypto transaction tax, targeting €3-4B annual revenue
The European Commission proposed a 0.1% transaction tax on crypto trades alongside a capital-gains levy, projected to raise €3–4 billion yearly as part of a broader revenue package for the 2028–2034 budget period, though the plan requires unanimous approval from all 27 member states.
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UK sanctions A7 crypto network for processing $90 billion for Russia
The UK sanctioned the A7 network and 17 other entities on May 26, applying banking-level restrictions to crypto exchanges for the first time under its Russia sanctions regime. The A7 network claims to have moved over $90 billion in 2025 alone.
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House Financial Services targets tokenization as next policy priority
Rep. French Hill, chairman of the House Financial Services Committee, said tokenization is the committee's next major focus after stablecoins and market structure, with the Clarity Act gaining bipartisan momentum in both chambers.
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Kraken launches CFTC-regulated Bitcoin perpetual futures for US institutions
Kraken expects to launch CFTC-regulated perpetual futures contracts tied to Bitcoin's spot price within 30 days, joining Coinbase and KalshiEX in capitalizing on fresh regulatory approval from the Commodity Futures Trading Commission.
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Bitcoin down 3% in May; labor data may spark recovery
Bitcoin traded near $73,500 on Sunday as May wrapped with a 3% monthly loss, despite easing geopolitical tensions. Upcoming US employment data could drive volatility for crypto and broader risk assets next week.
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DTCC to Launch Tokenized Securities on Stellar in 2027
Wall Street's clearing giant DTCC will make tokenized securities available on the Stellar blockchain beginning in the first half of 2027, leveraging compliance tools built into the network for regulated issuers.
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Ivanka Trump on authenticity, real estate, and self-awareness in business
In a recent podcast appearance, Ivanka Trump discusses how authenticity drives competitive advantage, the lasting value of real estate development, and why knowing yourself simplifies decision-making in business and life.
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Saudi Crown Prince, Macron discuss Strait of Hormuz reopening
Saudi Crown Prince Mohammed bin Salman and French President Emmanuel Macron engaged in talks on reopening the Strait of Hormuz, a critical oil shipping route. Market pricing for normal traffic by July 31 fell to 48% from 71% a week ago, signaling skepticism about near-term resolution.
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OpenAI Ramps Up Robotics Hiring for General-Purpose AGI Machines
OpenAI is actively hiring engineers for its robotics division in San Francisco, posting roles with salaries up to $310K to develop general-purpose robots capable of operating with AGI-level intelligence in real-world environments.
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Bank of England prioritizes tokenized deposits over stablecoins
The Bank of England Deputy Governor Sarah Breeden outlined a "multi-money" payments system on May 19 that prioritizes tokenized bank deposits over stablecoins, with pilot programs starting as early as 2026.
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Cardano Foundation cancels 2026 summit after governance vote falls short
The Cardano Foundation canceled its 2026 summit after a treasury proposal seeking 7.8 million ADA fell just short of the two-thirds approval threshold required in Cardano's on-chain governance system, highlighting the challenges of decentralized funding decisions.
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AGA's $1B prediction-market loss claim becomes regulatory flashpoint
The American Gaming Association's disputed $1 billion estimate of state and tribal losses to prediction markets has become a political weapon in the regulatory fight over whether platforms like Kalshi and Polymarket should face gambling restrictions.