Articles by Khal
Latest from Khal
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Senate Banking Chair Scott vows to push Digital Asset CLARITY Act forward
U.S. Senate Banking Committee Chairman Tim Scott pledged to advance the Digital Asset Market CLARITY Act through Congress, joining Agriculture Committee Chairman John Boozman and Digital Assets Subcommittee Chair Cynthia Lummis in backing the joint regulatory framework for crypto.
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BitMEX Shuts Down After 11 Years; 100x Leverage Innovation Lives On
BitMEX, the legendary crypto derivatives exchange that pioneered 100x leveraged perpetual swaps, announced it's shutting down after more than 11 years of operations. HDR Global Trading Limited made the decision following a strategic review, though the platform assured users their funds remain safe during the transition.
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ECB to raise deposit rate to 2.5% in September amid inflation pressures
The European Central Bank is expected to raise its deposit facility rate by 25 basis points on September 10, bringing it to 2.5%, as officials navigate supply shocks and inflation pressures in the eurozone economy.
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Houthi attacks on Saudi tankers push Brent crude past $98, rattling Bitcoin
Yemen's Houthi group struck two Saudi-flagged oil tankers in the Red Sea this week, driving Brent crude to a six-week high above $98 per barrel and rattling crypto markets including Bitcoin and XRP.
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Shibarium's 74% Transaction Surge Fails to Lift SHIB Price
Shibarium recorded a 74% jump in daily transactions to 1,151 on July 22, yet SHIB fell 1.54% in 24 hours and remains down 23% for the month as broader crypto trading volumes hit two-year lows.
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Morgan Stanley Initiates Applied Digital at Equal Weight, $36.50 Target
Morgan Stanley analyst Stephen Byrd initiated coverage of Applied Digital with an Equal Weight rating and $36.50 price target on July 23, well below the 16-analyst consensus of $70.56. The initiation reflects skepticism despite the company's multi-billion-dollar AI infrastructure leases.
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Uniswap Launches Permissioned Pools for Regulated Asset Trading
Uniswap Labs rolled out Permissioned Pools, a framework built on Uniswap v4 that lets issuers of tokenized funds and securities restrict trading to approved investors while enforcing compliance rules directly in the pool.
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NEAR Protocol Spot Volume Drops 36% in 24 Hours
NEAR Protocol's spot trading volume collapsed 36% in 24 hours to $39 million, with major exchanges including Binance, OKX, and Bybit reporting sharp declines. Derivatives positioning remains bullish despite lower spot demand, and the asset is consolidating near $1.89, just above its 200-day moving average.
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NNSA plans 1 gigawatt data center at Savannah River Site with nuclear power transition
The National Nuclear Security Administration announced a 1 gigawatt data center at the Savannah River Site, initially powered by natural gas but designed to transition to nuclear energy, marking a shift in how the federal government powers large-scale infrastructure.
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Mubadala Capital launches tokenized fund on Base, Solana and Sui
Abu Dhabi's sovereign wealth-backed asset manager has tokenized one of its private market strategies using KAIO infrastructure, attracting $75 million in onchain assets. Coinbase is taking exposure on its own balance sheet.
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Dogecoin Co-Founder: Crypto Bear Market Could Last 3-4 Years
Dogecoin co-founder Billy Markus said the current crypto downturn is boring rather than panic-inducing, and suggested consolidation could last three to four years based on historical cycles.
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Saudi Aramco Reroutes Crude Around Africa as Houthi Attacks Escalate
Saudi Aramco is discussing crude rerouting with Asian refiners as Houthi attacks in the Red Sea push Brent crude above $98 per barrel. The shift would add a month to delivery times and reshape global oil logistics.
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Nasdaq Q2 2026 earnings beat: $2B revenue, 25.9% EPS growth
Nasdaq reported Q2 2026 revenue of $2 billion and adjusted EPS of $1.07, beating analyst consensus estimates. Revenue grew 14.9% year-over-year while adjusted earnings per share surged 25.9%, signaling margin expansion across the exchange operator's core business segments.
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ECB holds rates at 2.25% as Lagarde signals data-dependent policy
The European Central Bank kept its deposit rate at 2.25% on July 23, 2026, pausing after a June hike—its first increase since 2023. President Lagarde signaled a meeting-by-meeting approach, avoiding future rate commitments and emphasizing geopolitical monitoring.
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Blackstone Q2 2026: $2.4B net income, $68.3B inflows, $1.3T AUM
Blackstone posted $2.4 billion in net income and $68.3 billion in inflows for Q2 2026, pushing assets under management past $1.3 trillion as the firm capitalizes on digital infrastructure opportunities including its publicly traded data center trust.
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Houthi attacks force container ships to reroute south of Africa
Container ships are increasingly rerouting around Africa due to Houthi attacks in the Red Sea. Prediction markets now estimate a 27.5% probability the Bab el-Mandeb Strait will be effectively closed by September 30, up from 22% the previous day.
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Bitcoin rises 2% as CLARITY Act advances through Senate ethics negotiations
Bitcoin gained roughly 2% on July 21 as Senate Republicans advanced the CLARITY Act, while Coinbase and Circle jumped over 8% on progress in ethics negotiations. Bloomberg analysts argue the bill carries limited direct price impact for Bitcoin, which already has commodity status and spot ETF access.
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Wrench Attacks on Crypto Holders Surge to $124M in Six Months
CertiK documented 52 wrench attacks in the first half of 2026, a 33% increase from a year earlier, with recorded losses climbing nearly 12-fold to $124.1 million. Home invasions now account for 41% of incidents, and France represents roughly 64% of global cases.
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Smarter Web sells 178 BTC to repay $11.7M convertible ahead of maturity
The Smarter Web Company liquidated 177.89 BTC at $65,762 per coin to retire a convertible instrument roughly two weeks early, eliminating 7.7 million potential shares and signaling a shift away from debt-based capital raises.
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Japan's FSA readies Bitcoin ETF rules, targeting 2028 launch
Japan's Financial Services Agency is preparing to revise investment regulations to enable cryptocurrency ETFs, with Finance Minister Satsuki Katayama confirming the government is on track to legalize crypto ETFs by 2028. The market could attract up to 3 trillion yen in inflows.
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XRP Ledger Daily Active Users Hit 157,200 as On-Chain Activity Diverges From Price
XRP Ledger daily active users surpassed 150,000 for the first time in weeks, reaching 157,200 on July 21, signaling renewed network engagement. Yet the token's price remains below historical highs, creating a notable gap between on-chain participation and market valuation.
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Bitcoin holds $65,674 after 13% July rally as macro markets stall
Bitcoin traded at $65,674 on Thursday, holding within a $64,000–$66,800 range that's persisted for a week. The 13% rally from July's $57,750 low has stalled as macro markets drift sideways and resistance near $66,000 remains firm.
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Bitcoin tests $69K as Fed decision looms and whale accumulation stalls
Bitcoin trades $3,000 below the average cost basis for short-term holders as the Federal Reserve prepares its July 28-29 meeting. Whale-driven accumulation has reversed, and Glassnode's risk gauge remains bearish despite recent ETF inflows.
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Ripple's David Schwartz would unretire only for Nik Bougalis
David Schwartz, who retired as Ripple CTO on January 1, 2026, said he would only consider returning to work if given the chance to collaborate with Nik Bougalis, now CTO of the Algorand Foundation.