Articles by Khal
Latest from Khal
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Dimon warns UK against raising bank taxes amid fiscal pressure
JPMorgan Chase CEO Jamie Dimon cautioned that higher UK bank taxes could trigger capital flight and jeopardize the bank's planned £3 billion Canary Wharf headquarters, one day after Andy Burnham took office as Prime Minister.
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California billionaires commit millions to defeat 2026 wealth tax
California's wealthy opponents have intensified spending to block a proposed one-time 5% wealth tax on billionaires, with tech figures and Governor Newsom leading the opposition ahead of the November 2026 ballot.
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Bitcoin's $48B Leverage Trap Creates Dual Liquidation Squeeze
Bitcoin open interest sits at $47.88 billion with small positive offshore funding and large CME short positions creating dual liquidation channels—a downside long-unwind trap and an upside short-covering squeeze.
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XRP rebounds to $1 as network activity hits two-month high
XRP recovered to $1 this week after falling to $0.98, erasing much of its May rally. The XRP Ledger logged record active addresses and whale inflows to Binance collapsed to their lowest level since 2021, yet sentiment remains bearish.
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Texas Holds 197,844 IBIT Shares as Bitcoin Position Falls to $6.6M
Texas Treasury Safekeeping Trust Company maintained its 197,844-share position in BlackRock's iShares Bitcoin Trust through June 30, despite the stake's market value declining to $6.62 million from an original $10 million allocation as Bitcoin fell 13.25% in the quarter.
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Crypto Investors Shift to Fundamentals, Abandon Market-Cap Rankings
Industry executives say crypto investors are increasingly judging tokens on revenue, usage and value capture rather than market-cap rank, marking the end of the "CoinMarketCap leaderboard era."
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Prediction Markets Shift From Questions to Data Infrastructure
Prediction market platforms are evolving from standalone question lists into financial data providers, but raw prices require context to interpret accurately. New research reveals calibration gaps and timing effects in contract pricing.
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Z.ai Releases GLM-5.3, Challenges Open-Weight Coding Model Leaders
Z.ai released GLM-5.3, a 743-billion-parameter coding model it positions as the strongest open-weights option. Benchmarks show it beats its predecessor and some peers but trails closed U.S. models and at least one open rival on headline tests.
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Compute Exchange launches AI inference token forward contracts
Compute Exchange rolled out forward contracts allowing enterprises to fix AI inference token prices for up to six months, using competitive bidding among providers to set rates and mitigate operational cost volatility.
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Kraken parent Payward posts 17% revenue growth despite 13% trading volume drop
Payward reported $508 million in adjusted Q2 revenue, up 17% year over year, while total transaction volume fell 13% to $310 billion. The company offset weaker crypto spot activity through growth in traditional futures, equities, and tokenized assets, while funded accounts surged 42% to 6.6 million.
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Bank Leumi launches direct crypto trading with Galaxy Digital
Israel's largest bank, Bank Leumi, announced a partnership with Galaxy Digital to offer Bitcoin, Ethereum, and Solana trading to its customers, launching in early 2027 and becoming the first bank in the country to provide direct digital asset services.
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Ripple's $50M RLUSD Mint on Ethereum Narrows XRP Ledger Gap
Ripple issued 50 million RLUSD tokens on Ethereum, pushing the stablecoin's total circulating supply to $1.63 billion and narrowing the supply gap with XRP Ledger to just $5.7 million. Capital is flowing from Ripple's native network to Ethereum as corporate clients prefer the latter's infrastructure.
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Nebius stock surges on 454% revenue growth; BofA raises target to $310
Bank of America hiked its Nebius price target from $280 to $310 following the company's Q2 earnings, which showed $582.3 million in revenue—a 454% year-over-year jump. The stock closed at $259.20, leaving room to the new target, but contrarian investor Michael Burry has increased his short position, highlighting divergent market views on the AI infrastructure play.
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LinkedIn Crypto Recruiter Scams Steal $11.8M in Singapore
Scammers posing as recruiters on LinkedIn have stolen $11.8 million in Singapore by using spoofed domains, fake video interviews, and malicious coding assessments to harvest session tokens that bypass multi-factor authentication and compromise corporate systems.
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EdgeConneX syndicates $3B for Meta's Ohio data center campus
EdgeConneX is syndicating roughly $3 billion in loans to build a 1-gigawatt data center campus in New Albany, Ohio for Meta, bundling construction and off-grid power assets into a single debt package—a novel structure that could reshape AI infrastructure financing.
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US retail sales growth slows to 5% in July, marking sharp deceleration
US retail sales rose 5% year-over-year in July, down from 7.3% in May, signaling a potential economic slowdown that could influence Federal Reserve policy and crypto market sentiment.
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EWC 2026 CS2 tournament: $2M prize pool, 32 clubs, Vitality vs B8
The Esports World Cup 2026 CS2 tournament runs August 12–23 with a $2 million prize pool and 32 competing clubs. Team Vitality faces B8 Esports in an upper bracket semifinal with significant Club Championship points at stake.
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Ripple CTO Schwartz: Bitcoin opinions "don't matter" after BIP-110 fails
Following the failure of Bitcoin's BIP-110 soft fork proposal, Ripple CTO Emeritus David Schwartz declared that network participants' moral judgments about how others use blockchain resources are irrelevant in truly decentralized systems.
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Bitcoin 365-Day ROI Falls Below 1.0, One-Year Holders Face Losses
Bitcoin's 365-day running return on investment has fallen below 1.0, indicating that one-year holders are now underwater. The metric hit roughly 0.514, reflecting a 49% negative return over the trailing 12 months, a threshold last seen during bear markets in 2014–2015, 2018–2019, and 2022.
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Robinhood Ventures Fund II begins NYSE trading, opens VC to retail
Robinhood's second venture fund launched on the NYSE with $225.5 million raised, offering retail investors daily-liquid access to 80 private companies without accreditation requirements—a shift toward democratizing early-stage investing.
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DeepSeek launches open-source agent harness, raises V4-Pro API prices
DeepSeek unveiled an MIT-licensed agent harness to compete with Claude's coding stack while raising API prices, intensifying competition against Anthropic in the AI model market.
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Vals AI raises $40M Series A from a16z for AI model evaluation
Vals AI raised $40 million in Series A funding led by Andreessen Horowitz to build independent evaluation benchmarks and monitoring tools for enterprise AI deployments. The company's flagship Vals Index ranks frontier language models on real-world business tasks.
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AI Boom Could Redirect Capital to Bitcoin, Former Bitwise Advisor Says
Jeff Park, a former Bitwise portfolio manager, argues that artificial intelligence's wealth creation could eventually redirect capital toward Bitcoin as financial structures supporting the AI boom become unstable.
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Trezor Data Breach: 13,689 Customers Exposed via ShipMonk
Trezor disclosed a breach at ShipMonk, its shipping provider, exposing names, emails, phone numbers and addresses of 13,689 customers across seven countries. The hardware wallet maker said its own systems were not compromised.