Articles by Khal
Latest from Khal
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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.
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Block Discloses Critical Coldcard Vulnerabilities Affecting Bitcoin Hardware Wallets
Block disclosed two critical security flaws in Coldcard hardware wallets (Mk2, Mk3, Mk4, Q, Mk5) that allowed remote theft of Bitcoin. Researchers identified over 1,082 BTC potentially stolen and warned the attack campaign remains active.
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Coldcard Mk3 Flaw Exposes 594 BTC to Theft in 25-Minute Attack
A randomness generator bug in Coldcard hardware wallets allowed attackers to derive private keys from predictable seed values. Approximately 594 bitcoin worth $38 million was stolen from around 500 wallets between 01:31 and 01:56 UTC on Friday, with the flaw traced to firmware shipped in March 2021.
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Oil prices fall over $1 as Strait of Hormuz shipping improves
Brent crude settled at $89.03 and WTI closed at $83.59 as shipping flows through the Strait of Hormuz recovered, easing supply concerns despite ongoing US-Iran tensions.
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Novig lands exclusive MLB partnership with New York Mets
Novig, a peer-to-peer prediction market platform, announced a multi-year exclusive deal with the New York Mets on July 30, becoming the first sports franchise partnership for any prediction market operator. The move signals regulatory acceptance and positions Novig ahead of competitors like Polymarket and Kalshi.
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Apple shares fall 4% on record $109.4B revenue, Cook's final earnings report
Apple posted record June quarter revenue of $109.4 billion and earnings per share of $2.02, but shares fell approximately 4% in after-hours trading following the earnings report, which was Tim Cook's final as CEO before his September transition to executive chairman.
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Stablecoin market cap falls to six-month low as capital shifts to yield alternatives
The stablecoin market has contracted roughly $10 billion over the past 10 weeks to a six-month low, marking the sector's first sustained decline in four years. Capital is migrating to tokenized Treasury products and yield-bearing on-chain instruments as regulatory changes limit stablecoin issuers' ability to compete.
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FTX begins $900M fifth payout Friday, sets six-month onboarding deadline
FTX will distribute approximately $900 million to eligible creditors starting July 31, with funds arriving via BitGo, Kraken, or Payoneer within three business days. Claim holders who miss the six-month onboarding window risk forfeiting their distribution rights entirely.
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Ark Invest Sells Bitmine, Robinhood Amid Crypto Equity Pullback
Cathie Wood's Ark Invest sold approximately $4.4 million in crypto-related stocks on Wednesday, trimming positions in Bitmine, Robinhood, Block, and Bullish. The firm simultaneously added $43.5 million to Coinbase and Circle holdings over three days.
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Ondo Finance evaluates $250M–$500M acquisition amid tokenization consolidation
Ondo Finance, a $2.5 billion tokenized-assets platform founded by ex-Goldman Sachs executives, is evaluating an acquisition valued between $250 million and $500 million, sources say. The move reflects accelerating consolidation in crypto infrastructure as larger firms pursue licenses and technology.
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XRP Ledger Validator Warns of Scam Wave as Lending Protocol Launches
An XRP Ledger Validator warned that scammers are poised to exploit the upcoming launch of the first lending protocol on XRPL, following a recent $8.5 million staking fraud uncovered by South Korean police.
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Equinix raises $3B in bonds for AI data center expansion
The largest publicly traded data center operator is raising at least $3 billion through a new bond offering to support its AI infrastructure buildout across 77 global markets, underscoring the massive capital requirements driving the sector.
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Nscale acquires Anyscale for $1.65B to control full AI compute stack
Nscale, a London-based AI cloud provider, is acquiring Anyscale—the commercial entity behind Ray, an open-source distributed computing framework—for $1.65 billion. The deal combines hardware infrastructure with workload orchestration software, giving Nscale end-to-end control from power generation to GPU task assignment.
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AI Companies Race to Hire Forward-Deployed Engineers Amid Adoption Gap
Forward-deployed engineers—specialists who embed inside client operations to configure AI systems for real workflows—are in acute shortage as enterprises discover that buying AI tools and deploying them profitably are two different problems.
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xAI sues Minnesota to block nation's first AI nudification law
Elon Musk's xAI filed a federal lawsuit against Minnesota Attorney General Keith Ellison to block HF 1606, arguing the law's definition of intimate parts is so broad it would criminalize shirtless photos and swimwear images. The law takes effect Saturday.
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Australia Sues Telegram for $38M Over Extremist Content Failures
Australia's eSafety Commissioner filed civil proceedings against Telegram seeking A$54.6 million in penalties, alleging the platform failed to remove pro-terror material including footage from the Christchurch and Buffalo attacks.
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US Private Credit Defaults Surge as Borrowers Flee to Europe
The US private credit market confronts rising defaults and commoditized lending as borrowers increasingly seek financing in Europe, where record capital raises and lower pricing offer relief from domestic pressures.
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BNB Plus terminates crypto manager after Nasdaq suspension
BNB Plus, formerly Applied DNA Sciences, severed ties with its digital-asset manager Cypress LLC and CIO Patrick Horsman following a Nasdaq delisting. The company named no successor to manage its 2,186 BNB holdings, leaving treasury oversight unclear.
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JPMorgan warns fading Clarity Act odds threaten crypto market structure
JPMorgan said deteriorating prospects for the Clarity Act—now facing just a 37% chance of Senate passage this year—remove a key catalyst for digital asset adoption, even as tokenization and institutional investment advance.
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AI debt surge forces bond investors to absorb mark-to-market losses
Tech giants are issuing debt at record pace to fund AI infrastructure, flooding bond markets with $236 billion in AI-related issuance by May 2026 alone. Declining demand metrics and widening spreads signal growing strain on fixed-income investors holding lower-coupon bonds.
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Dili raises $15M Series A to automate infrastructure compliance
Compliance software startup Dili secured $15 million in Series A funding led by Khosla Ventures, bringing total capital to $21.7 million. The platform automates regulatory checks across 700+ infrastructure projects worth over $1 billion in funding and tax credits.
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Institutions drive 72% of crypto trading, taming volatility
Wintermute data shows institutional investors dominated spot trading in the first half of 2026, pushing crypto volatility down and concentrating flows in fewer tokens while tokenized assets surged to $31 billion.
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Ethereum marks 11 years with foundation leadership overhaul
Ethereum's past year has brought sweeping changes to the Ethereum Foundation, including leadership departures and staff cuts, as the network pursues institutional independence and technical advances like the Fusaka upgrade.
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2.96B SHIB Burned in Largest Weekly Burn of 2024
Shiba Inu saw 2.96 billion tokens burned in the past week—its largest weekly burn in a year—as whale activity spiked and social dominance hit a four-month high.