Articles by Khal
Latest from Khal
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IREN Says AI's Real Bottleneck Is Infrastructure, Not Chips
IREN co-founder Daniel Roberts argues that power, land, cooling and data center construction—not GPU scarcity—are the real constraints throttling AI deployment. The company has secured 5 gigawatts of grid capacity and announced a $3.4 billion NVIDIA contract.
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CoinDesk 20 Index flat as NEAR surges 19.4%, ICP gains 4.3%
The CoinDesk 20 Index held steady at 2085.44 while NEAR Protocol led gainers with a 19.4% surge and Internet Computer climbed 4.3%, with 14 of 20 assets trading higher.
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Trump Media transfers $205M bitcoin as unrealized losses hit $455M
Trump Media moved 2,650 BTC to Crypto.com worth roughly $205 million, bringing total unrealized losses on its bitcoin holdings to approximately $455 million amid widening quarterly deficits and a withdrawn spot bitcoin ETF application.
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OKX and ICE launch perpetual oil futures for 120 million retail traders
Intercontinental Exchange and OKX announced a partnership Friday to launch perpetual oil futures contracts on the crypto platform, leveraging ICE's Brent crude and WTI price data and opening energy trading to millions of retail users.
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Bitcoin Flat at $77,200 as Geopolitics and AI Dominate Markets
Bitcoin trades near $77,200 with little movement despite positive regulatory news, as macro-geopolitical factors and AI optimism drive broader markets and pull capital away from crypto.
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Polymarket Appoints Jupiter Exec to Lead Japan Regulatory Push
Polymarket has appointed Mike Eidlin, head of Japan at crypto firm Jupiter, to spearhead the prediction market's expansion in Japan, targeting regulatory approval by 2030 as it navigates regional restrictions.
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Ark Invest buys $12.5M of Bullish stock over four days
Cathie Wood's Ark Invest purchased $12.5 million worth of Bullish shares over four consecutive trading days, capitalizing on a 17% decline in the crypto-focused parent company of CoinDesk during a Bitcoin downturn.
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Bitcoin Holds $76K–$78K Range as AI Tokens Surge on Altcoin Rotation
Bitcoin remains confined between $76,100 and $78,000 while NEAR and FET post double-digit gains amid sector rotation. Privacy coins sell off as derivatives signal subdued volatility conditions.
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Polymarket $520K exploit on Polygon flagged by ZachXBT, funds safe
Blockchain investigator ZachXBT has highlighted a suspected security breach involving Polymarket, the world's largest decentralized prediction market platform, with over $520,000 reportedly drained from smart contracts on Polygon. Polymarket's team says user funds and market resolutions remain safe, attributing the issue to a compromised internal operations wallet rather than a broader exploit.
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Polymarket seeks prediction market approval in Japan by 2030
Polymarket has appointed a representative in Japan and is lobbying for government authorization of prediction markets by 2030, with Mike Eidlin from Jupiter leading the effort as the platform faces regulatory headwinds in the United States.
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Bitcoin implied volatility hits 7-month low amid institutional buying
Bitcoin's 30-day implied volatility index (BVIV) fell to 38%, its lowest in seven months, signaling trader expectations of calmer price action despite macro headwinds. Institutional buying from Strategy and systematic option sellers are dampening swings.
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XRP ETFs attract $42M inflows as Bitcoin, Ether funds face redemptions
XRP-linked funds pulled in $42 million in net inflows over the past week while Bitcoin and Ether products bled capital, signaling a possible rotation into alternative crypto exposure.
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Bitcoin holds $77,700 as analysts identify $75,000 support after liquidations
Bitcoin traded near $77,700 with little 24-hour movement as analysts point to $75,000–$77,000 as key support. A $200 million liquidation wave hit mostly leveraged short-term traders, not structural capitulation, according to HashKey Research.
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Glassnode: $469B Bitcoin Exposed to Quantum Computing Risk
Blockchain analytics firm Glassnode found that 6.04 million BTC (30.2% of issued supply) is vulnerable to quantum attacks, with exchange-held coins representing the largest operational exposure.
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Spotify and Universal Launch Licensed AI Tool for Fan-Made Covers
Spotify and Universal Music Group announced a paid add-on for Premium subscribers that lets fans create AI-generated covers and remixes, with participating artists and songwriters receiving compensation.
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DeepSeek launches Code Harness to rival Claude Code and Codex
The Chinese AI lab is hiring in Beijing to build Code Harness, an agentic coding tool that would let it control the interface developers use to run AI models—a move to own the full stack beyond just the model itself.
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Study: Half of Young Adults Hide AI Romantic Companion Use From Partners
Researchers surveyed 2,431 young adults and found that half of regular AI companion users in committed relationships concealed or partially hid the behavior. Frequent users reported 46% lower relationship stability and 40% lower communication quality with real partners.
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NHL and CFTC sign data-sharing agreement for prediction market integrity
The NHL and CFTC signed a memorandum of understanding to share data and coordinate oversight of hockey-related prediction markets, following a similar March agreement between the regulator and Major League Baseball.
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Mark Cuban Sells Most Bitcoin, Calls Crypto Disappointing
Billionaire Mark Cuban disclosed he's sold most of his Bitcoin holdings, citing disappointment with the asset's failure to serve as an effective hedge against currency devaluation as gold has outperformed it by a wide margin.
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Fantasy Top Ethereum Game Shuts Down June 25
Fantasy Top, a blockchain-based fantasy sports game built on Ethereum's Blast network that let players trade NFT cards of crypto personalities, is closing at the end of June after failing to find sustainable revenue beyond NFT trading volume.
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Nvidia Posts Record $81.6B Revenue; BofA Raises Target to $350
Nvidia delivered record $81.6 billion in quarterly revenue, beating analyst forecasts by $2.5 billion, yet the stock declined. Bank of America raised its price target to $350 and reiterated a buy rating, calling the dip a buying opportunity.
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Kraken Secures VARA License for Regulated Dubai Operations
Kraken's parent company Payward received preliminary broker-dealer authorization from Dubai's Virtual Asset Regulatory Authority, enabling the exchange to offer spot and margin trading, staking, and OTC services to UAE retail and professional investors.
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Ethereum Foundation faces exodus as community questions strategic direction
High-profile departures from the Ethereum Foundation have sparked existential debate about the institution's governance, funding, and ability to compete. Critics argue the Foundation is misaligned with the network's economic interests and neglects tokenomics.
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Sandbox co-founder's wife targeted in kidnapping attempt at French home
Sébastien Borget's wife was targeted in a kidnapping attempt at their French residence. Two teenagers were arrested; four others remain at large. The incident underscores France's emergence as a hub for crypto-linked "wrench attacks."