Business – Page 79

Bitcoin miners’ AI pivot faces $50 billion reality check, VanEck says

The report comes amid a dramatic shift in the bitcoin mining industry. Following the collapse in mining profitability following the 2024 halving, many operators began repurposing their power infrastructure to support AI workloads, betting that tech companies would pay significantly more for electricity and data center capacity than bitcoin miners. Core Scientific (CORZ) signed a […]

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U.S. senators are calling on the Treasury Department not to leave states out of the GENIUS Act stablecoin process

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State regulators were sidelined in the U.S. Treasury Department’s efforts to implement the new U.S. stablecoin law, according to several senators from both parties, who insist that states must have an explicit process to prove their oversight and standards are on par with federal regulators. The Guiding and Establishing National Innovation for US Stablecoins (GENIUS)

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Coinbase Introduces AI Advisor, Stock Options and Pre-IPO Markets in Finance Push

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The company is also expanding its derivatives business. New products include perpetual futures tied to thematic baskets such as artificial intelligence, defense and Chinese stocks, as well as pre-IPO perpetual futures that provide exposure to private companies, including SpaceX (SPCX), which went public earlier this month. Coinbase said contracts tied to OpenAI and Anthropic, which

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BTC price rises after Japan’s interest rate hike with XLM, INJ, UNI moving forward

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Bitcoin BTC$65,845.72 rose after the Bank of Japan raised interest rates to a 31-year high, pushing the price from around $65,600 in Asian trade to more than $66,500 in European hours. The largest cryptocurrency has added 1.5% over the past 24 hours, continuing its recovery from a June 5 low below $60,000. Several altcoins showed

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Mystery Polymarket trader turned $4 million into $9 million after Spain’s shock World Cup draw

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As the game ended 0-0, both were paid. The wallet cashed in about $4.7 million on the Spanish market and $8.5 million on the spread, according to its public trading record, for a one-day profit of about $9 million. On the other hand, a trader using the name ‘betoor619’ lost nearly $1 million, Polymarket trade

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The Glamsterdam upgrade is moving into its final phase of development

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The upgrade is shaping up to be one of Ethereum’s most ambitious since the network’s transition to proof-of-stake in 2022. Jayanthi described Glamsterdam as “probably the biggest fork we’ve had since the merger,” adding that it will “change a lot of assumptions about Ethereum and set us up for a lot more in the future.”

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Binance says its European regulatory application is compliant despite Greek rejection report

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Binance, the world’s largest cryptocurrency exchange, may not be able to serve customers in Europe if its regulatory license application in Greece is rejected, Reuters reported on Tuesday. Binance’s Markets in Crypto Assets (MiCA) license application, which must be approved by a deadline at the end of this month, will be rejected by the Greek

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Ripple invests in Flutterwave, bringing RLUSD and XRP Ledger to payments in Africa

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Ripple, the blockchain company closely linked to the XRP Ledger network (XRP), invested in African payments company Flutterwave as part of its Series E funding round, a deal centered on expanding the use of stablecoins for cross-border payments. Flutterwave said Tuesday that the funding round values the company at $3.2 billion. Financial terms for Ripple’s

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Coinbase joins tokenized stock race with onchain shares and dividend payments

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Coinbase (COIN) said it plans to introduce tokenized shares backed one-to-one by underlying U.S. stocks, joining the growing competition among crypto firms and traditional financial firms to bring shares onto blockchain networks. In a post on X on Tuesday, the exchange said “the first real, 1:1-backed tokenized shares are coming,” allowing users to own, trade,

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State Street takes aim at stablecoin reserve boom with new money market fund

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Wall Street’s biggest asset managers are increasingly competing to manage the assets that underpin stablecoins, a market that could swell to trillions of dollars as digital dollars become a bigger part of the financial system. State Street Investment Management on Tuesday introduced the State Street Stablecoin Reserves Money Market Fund, a government money market fund

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