X Money, launched for US Premium subscribers, faces significant limitations, including restricted peer-to-peer payments, incompatibility with Google/Apple Pay in key markets (NY, MA), and potential account access issues, threatening its viability as a primary payments app.
US spot Bitcoin ETFs recorded their longest inflow streak since April, attracting $930 million over six days, as institutional demand recovers. This crypto market revival coincides with easing enthusiasm for AI stocks and progress on US crypto legislation, potentially signaling a capital rotation.
SEC Commissioner Hester Peirce warned that some crypto vaults and onchain lending strategies could be subject to federal securities laws, depending on their structure and management. Her statement comes as major firms like Coinbase and Bitwise expand into this rapidly growing market, prompting a re-evaluation of regulatory boundaries.
Crypto derivatives exchange BitMEX is shutting down, prompting industry questions about market consolidation due to liquidity concentration among large players and rising regulatory costs. Its utility token, BMEX, plunged over 90% following the announcement.
Hong Kong police arrested a 72-year-old local man for allegedly practising dentistry illegally at a North Point shop promoting a mainland Chinese dental clinic. The arrest followed calls from the local industry for stricter regulation.
A study reveals how the tapeworm Anomotaenia brevis extends the lifespan of Temnothorax nylanderi worker ants. The parasite alters the ant's gene expression, making its fat body resemble that of a long-lived queen, while dampening brain activity to reduce work and increase survival for the parasite's life cycle.
A study reveals how the tapeworm Anomotaenia brevis extends the lifespan of Temnothorax nylanderi worker ants in Germany. The parasite alters ant gene expression, making their fat bodies queen-like for longevity, while dampening brain activity for a quieter, lazier existence, aiding its own life cycle.
Bitcoin recovered to $66,347, holding 200 EMA support, despite a bearish 'death cross' and institutional caution reflected in the Coinbase Premium Index. Mixed signals from technicals and macro factors like upcoming tech earnings and the pending Clarity Act create market uncertainty.
OKX appointed former NY Governor Andrew Cuomo to its board, leveraging his regulatory expertise for its push into licensed financial services, including a joint venture with ICE. This move aims to secure broker-dealer status and institutional customers, occurring as Congress debates the CLARITY Act, which addresses the overlap between political power and crypto wealth.
Indonesia's Prime Group has resumed activities for the Tuna gas field project, which involves Russian state-owned Zarubezhneft as a 50% partner. The project faces potential geopolitical challenges due to its location in Indonesia's exclusive economic zone, where China has previously objected to drilling, and complications from sanctions on Russia.
Prediction markets Polymarket and Kalshi saw $5.57B in World Cup trading volume, pushing the sector into mainstream sports betting. While a few traders captured most profits, the surge highlights potential commercial applications but also intensifies US regulatory scrutiny over whether these platforms are derivatives or gambling.
Gate Europe CEO Giovanni Cunti warns that crypto companies licensed under the EU's MiCA regulation may exit the market due to mounting compliance costs, despite the framework strengthening investor protections. Stricter rules are reshaping Europe's crypto landscape, potentially driving innovation elsewhere.
A new cross-border insurance policy has overcome a regulatory hurdle, enabling Shenzhen-based Yivtol's S-Zero piloted aircraft to operate in Hong Kong. This policy addresses Hong Kong's aviation insurance requirements, paving the way for mainland developers to enter the city's market.
Beijing is actively intervening in China's US$15 trillion stock market to foster a durable bull run, aiming to support strategic tech self-sufficiency and preserve household wealth. Initial efforts saw the Star Market 50 Index jump 11% after state-backed insurers pledged equity investments and regulators vowed stabilizing measures.
Kalshi is expanding its prediction markets to include wagers on drug trial results, aiming to increase transparency in drug development. This pilot program, in partnership with AppliedXL, faces criticism regarding market manipulation and insider trading. Kalshi also paused plans for flight cancellation bets after FlightAware disavowed data use.
A new era of content discovery, AI Optimization (AIO), is emerging as AI models like ChatGPT and Perplexity become primary search tools. This shift requires content creators to optimize for AI-generated responses, distinct from traditional SEO, to capture growing organic traffic.
SBI Holdings acquires majority stake in Coinhako, a Singaporean crypto platform, post-MAS approval, aiming to combine customer base and network with its financial and digital asset services.
China is prioritizing non-invasive brain-computer interfaces (BCI), designating the technology as a 'future industry.' Unlike Elon Musk's Neuralink, Chinese startups like Neuracle Medical Technology and BrainCo are developing devices that read brain signals without surgery, focusing initially on medical applications like prosthetics and rehabilitation.
Donald Trump's latest financial disclosure reveals a complex interplay between digital-asset policy, personal finances, branded tokens, and presidential power, highlighting a governance problem where crypto's rapid value conversion amplifies the overlap between public action and private benefit.
Over 24 proposed prediction market ETFs from issuers like Roundhill and Bitwise remain stalled by the SEC, which is scrutinizing fund mechanics and investor disclosures. These ETFs aim to track outcomes of elections, cryptocurrency prices, and commodity values, but regulatory uncertainty delays their market entry.
Online retail giant Shein has received approval from China's CSRC to pursue an IPO in Hong Kong, planning to issue up to 341.6 million shares. Previous IPO attempts in New York and London were stalled due to regulatory scrutiny.
The UK government has designated Microsoft, Google, Amazon, and Oracle as "critical third parties" to oversee their cloud services, enhancing financial system stability. The regulation, effective July 13, targets major cloud providers due to increasing financial sector reliance on their services.
Kraken Co-CEO Arjun Sethi highlighted Hong Kong's century-long role as an international business gateway, now being reshaped by stablecoins and blockchain into a 24/7 liquidity hub. Payward's recent US$600M acquisition of Reap Technologies signals expansion into Asia via Hong Kong.
Microsoft President Brad Smith criticized the US government's approach to regulating AI, calling for more transparency and better tools. His comments follow recent crackdowns on Anthropic and OpenAI models, which he believes were handled without proper rules, impacting business planning and international confidence.
