Articles by Khal
Latest from Khal
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Bitcoin crash warning signals unreliable across major liquidation events
A new arXiv preprint analyzing seven major Bitcoin crashes found that while taker order-flow variance tightened before most cascades, no single warning signal reliably predicted every event, limiting their utility as crash alarms.
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SBI Holdings Links XRP Weakness to Delayed U.S. CLARITY Act
SBI Holdings Director Yasuo Nishikawa attributed XRP's recent price weakness to uncertainty surrounding the U.S. CLARITY Act, while the Japanese financial giant reported a $45 billion stake in Ripple and expects its combined crypto business to manage $5.9 billion in assets.
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Tether Reports $1.5B Q2 Profit as USDT Supply Hits $184 Billion
Tether posted $1.5 billion in net operating profit for Q2 2026, nearly 50% higher than the prior quarter, as USDT circulation grew to $184.6 billion. The stablecoin's market share expanded to over 60% despite broader stablecoin market contraction, backed primarily by U.S. Treasuries and repo agreements.
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Ripple xrpld 3.3.0 upgrade brings five amendments for institutional compliance
RippleX Head of Product Jazzi Cooper unveiled five fundamental amendments to the XRP Ledger, scheduled for release next week, designed to lower barriers for traditional financial institutions seeking to issue and settle tokenized assets on a public blockchain.
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DeFi aggregators shift to intent-based trading as KyberSwap leads market
DeFi aggregators are moving from rigid on-chain paths to intent-based architectures where users declare outcomes and competing solvers handle execution. KyberSwap commands 31% of DEX aggregator market share despite a 40% volume decline in early 2026.
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Tether reports $1.5B profit, 650M users as stablecoin dominance deepens
Tether posted $1.5 billion in net profit during Q2 2026 while its user base swelled to 650 million, reinforcing its grip on over 60% of the global stablecoin market. The company's reserve attestation, verified by BDO, showed $4.1 billion in excess reserves backing USDT circulation of $184.6 billion.
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US Treasury sanctions Iranian firms accepting Bitcoin for Hormuz passage
The U.S. Treasury's Office of Foreign Assets Control sanctioned two Iranian firms on Wednesday, including HormuzSafe Marine Services Authority, which accepts Bitcoin and other digital assets to bypass Western sanctions on shipping through the Strait of Hormuz.
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IBM CEO Krishna: Quantum Computing Revenue by 2028
IBM CEO Arvind Krishna said quantum computing will generate meaningful commercial revenue by 2028 or 2029, with the sector potentially worth $1 trillion by the end of the 2030s, as major tech firms and startups race to build practical machines.
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Former Barclays CEO Diamond backs Clarity Act, says crypto bill strengthens banking
Former Barclays CEO Bob Diamond endorsed the stalled Clarity Act on CNBC, arguing the landmark crypto bill would benefit the banking industry by providing regulatory clarity for blockchain innovation and tokenized finance.
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Cardano's Hoskinson to Speak at 2026 Wyoming Blockchain Symposium
Charles Hoskinson, Cardano founder and CEO of Input Output Group, has been selected to speak at the 2026 Wyoming Blockchain Symposium in August alongside SEC Chairman Paul Atkins and other major regulatory and industry figures.
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Strategy Boosts Bitcoin Holdings to 846K BTC, Supports STRC Near Par
Strategy, led by Michael Saylor, reported Q2 results showing increased Bitcoin holdings to nearly 846,000 BTC and reduced convertible debt to $6.7 billion. The company bolstered USD reserves and implemented dividend increases and share buybacks to support STRC near its $100 par value.
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Circle Gets New York Trust Charter for Custody Services
Circle's subsidiary Circle Internet Trust Company LLC received a limited purpose trust charter from New York's financial regulator, allowing it to provide fiduciary and custody services under state banking law.
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Coinbase Q2 earnings miss, Wall Street split on crypto recovery timing
Coinbase reported $1.22 billion in revenue and missed expectations across nearly every major metric, but Wall Street disagreed on the timing of a recovery. Most analysts blamed weak crypto markets rather than company-specific issues, though Coinbase did capture record market share.
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Bitcoin's August Headwind: Historical Seasonal Weakness Ahead
Bitcoin ended July 2026 with a gain of approximately 9.93%, but historical data shows August has closed in the red during comparable four-year cycle periods, with an average decline of 13.6%. Regulatory stalling and elevated interest rates add to the headwinds.
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XRP Ledger Nears 200,000 Daily Active Users as Network Activity Surges
The XRP Ledger is nearing 200,000 daily active users after a dramatic surge in late July, marking its highest activity level in months and signaling a return to sustained network engagement rather than speculative trading spikes.
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Employment Cost Index rises 0.9% in Q2, topping forecasts
The U.S. Employment Cost Index climbed 0.9% in Q2 2026, beating analyst expectations of 0.8%, signaling persistent wage and benefit growth that may keep the Federal Reserve from cutting rates through year-end and pressuring Bitcoin and crypto assets.
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Coinbase Posts $359M Loss as Q2 Crypto Trading Volume Falls 21%
Coinbase posted a $359 million net loss in Q2 as crypto spot trading volume fell over 20%, though the exchange gained record market share and saw prediction-market revenue surge 106%.
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U.S. Treasury Sanctions Iran Bitcoin Insurance Scheme for Strait of Hormuz
The Treasury Department designated two Iranian firms behind a maritime insurance operation that accepted bitcoin and other digital assets, describing the arrangement as extortion tied to IRGC-backed shipping controls.
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BlackRock buys $183M Bitcoin as ETF inflows surge past July levels
BlackRock purchased approximately $183.41 million in Bitcoin following strong inflows into its spot Bitcoin ETF, marking one of the largest single-day inflows for the fund since July. Institutional interest in Bitcoin appears to be returning to the market.
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BIS Project Agorá settles $1M in tokenized cross-border payments
Twenty-eight financial institutions including five central banks completed real-value settlements using tokenized reserves and deposits in a July trial of the BIS's Project Agorá initiative, with average settlement times of 80 seconds across six currencies.
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Texas Crypto Kiosk Scams Hit $57M; Lawmakers Consider Outright Ban
Texas residents lost $56.8 million to cryptocurrency kiosk fraud in 2025, prompting lawmakers to consider an outright ban similar to Indiana, Tennessee, and Minnesota.
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BNB volume surges 65% as retail traders eye $600 resistance
BNB's 24-hour trading volume jumped more than 65% as retail participation picked up on Binance, though the token faces technical hurdles before establishing a sustained rally toward higher resistance levels.
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New York AG Seeks $36B From Kalshi Over Illegal Gambling Claims
New York Attorney General Letitia James filed a petition Friday seeking at least $36 billion from prediction market Kalshi, treating the platform as an unlicensed gambling business across eight counts. The move comes a day after the CFTC requested a restraining order barring New York from enforcing against CFTC-registered platforms.
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Coinbase Stock Slides 7% After Missing Q2 Revenue Targets
Coinbase shares fell roughly 7% in after-hours trading following second-quarter earnings that missed Wall Street expectations, with total revenue of $1.2 billion versus the projected $1.3 billion, driven by weak crypto trading activity and declining transaction revenue.