Crypto News

Former Story Blockchain Plans to Shut Down and Rebuild Its AI Data Registry on Sui Former Story Blockchain Plans to Shut Down and Rebuild Its AI Data Registry on Sui The rapidly evolving landscape of blockchain technology continuously prompts developers and companies to adapt and innovate. In a move highlighting the perpetual flux of the sector, a former blockchain enterprise has announced plans to shutter its current operations and reconstruct its AI data registry on the Sui network. This decision stems from a strategic evaluation of the company's goals in enhancing efficiency and scalability while mitigating costs associated with its current infrastructure. The decision to transition to the Sui network underscores the company's...

This Sam Altman-Backed Life Insurer Runs Entirely on Bitcoin, and Just Raised $37.5 Million This Sam Altman-Backed Life Insurer Runs Entirely on Bitcoin, and Just Raised $37.5 Million A life insurer backed by Sam Altman is aiming to revolutionize the insurance industry by functioning entirely on Bitcoin. The company recently completed a funding round, securing $37.5 million to further its ambitions. This unique approach has caught the attention of many in the financial sector, given the increasing interest in Bitcoin and other cryptocurrencies. The life insurer's business model is heavily reliant on Bitcoin. Rather than traditional currency, Bitcoin is used for both premiums and payouts. This strategic move not only sets them apart...

Ripple Becoming ‘Major Competitor’ to Wall Street — but Where Does XRP Fit? Ripple Becoming ‘Major Competitor’ to Wall Street — but Where Does XRP Fit? Ripple has continued to outline a connection between its brokerage business and its blockchain ecosystem. Its original Hidden Road acquisition announcement identified RLUSD as collateral across prime brokerage products and set out plans to migrate post-trade activity to the XRP Ledger. Collateral supports trading positions, while post-trade infrastructure handles processes after a transaction has been agreed. However, neither description means the full value of every trade must pass through XRP. Nevertheless, XRP has a required role in operating the ledger, even if it is...

No, OpenAI didn’t have a $20B revenue shortfall No, OpenAI Didn’t Have a $20B Revenue Shortfall OpenAI, a leading force in AI research, has not experienced a $20 billion revenue shortfall, contrary to some reports. Recent discussions about its financial standing have highlighted its potential and expansive growth, particularly regarding its annual recurring revenue. The speculations around OpenAI's financial outlook have been fueled by several factors, including its widespread adoption and the increasing demand for artificial intelligence solutions across multiple industries. The company has consistently shown a pattern of growth, and its financial strategies seem to be aligned with the burgeoning AI market's trajectory...

New York Permanently Bars Ex-Celsius CEO Mashinsky From Crypto and Securities Industries New York Permanently Bars Ex-Celsius CEO Mashinsky From Crypto and Securities Industries New York's Attorney General has taken decisive action against Alex Mashinsky, the former CEO of the bankrupt crypto lending platform Celsius Network. Following allegations that Mashinsky defrauded investors, he has been permanently banned from participating in the cryptocurrency and securities industries within the state. This move is part of a broader effort by the New York Attorney General's office to regulate the burgeoning cryptocurrency sector and protect investors from fraudulent activities. Mashinsky's company, Celsius Network, faced serious...

One Year After $19 Billion Crash, Crypto Faces a New Reality One Year After $19 Billion Crash, Crypto Faces a New Reality Open interest in perpetual futures for real-world assets, virtually non-existent a year ago, today stands at more than $17 billion, according to DefiLlama data. Much of that has been driven by Hyperliquid, the offshore crypto exchange, which was an early mover in tying perps to stocks and commodities. The shift "tells a growth story of people that want yield and settlement on rails that never close, not from people chasing a narrative or a buzzy memecoin," said Adam McCarthy, head of research at trading firm LO:TECH. The never-ending quest for higher returns helped make Bitcoin the world's best-performing...

Self-Custody vs. Custodians: What the SEC's New Proposal Means for Your Crypto The SEC's new proposal outlines significant changes for crypto asset custody, particularly highlighting the role of state-chartered trust companies and self-custody practices. Self-Custody vs. Custodians: What the SEC's New Proposal Means for Your Crypto Under the proposal, an adviser would first need to determine that no permitted custodian is available for the particular crypto asset. That assessment would be repeated quarterly. The exception, therefore, would not grant advisers unrestricted permission to bypass custodians simply because it is cheaper or more convenient. Proposed safeguards include relevant custody expertise, cybersecurity protections...

Tom Lee’s Ethereum Year-End Call Is Now Half Of What He Called ‘Conservative’ Last Month, But He Expects ‘Monster Moves’ In The Crypto Industry Tom Lee’s Ethereum Year-End Call Is Now Half Of What He Called ‘Conservative’ Last Month, But He Expects ‘Monster Moves’ In The Crypto Industry BMNR stock closed little changed on Friday. On Stocktwits, retail sentiment around BMNR remained in the 'bearish' zone, with chatter at 'normal' levels over the past day. This article has been published in stocktwits.com via Yahoo News. https://finance.yahoo.com/markets/crypto/articles/tom-lee-ethereum-end-call-121659621.html

AI Startup Manus Raises $500 Million After China Nixed Meta’s $2 Billion Acquisition AI Startup Manus Raises $500 Million After China Nixed Meta’s $2 Billion Acquisition Meta cut ties in June. In August, Manus announced it would operate independently again, deleting some user data created on or after December 29, 2025, to separate its systems from Meta's. Meta's own coding agent, Muse Code, launched that same month into a market where it felt late to the fight against Codex and Claude Code. Manus, for its part, now sells Cue, an app that gives agents their own phone numbers and digital wallets, with payments limited to a budget the user sets. A Wider Tightening in Beijing The Manus case sits inside a wider tightening in Beijing: in...

Bitcoin Bleeds in Uptober—How Low Can It Go? Experts Weigh In Bitcoin Bleeds in Uptober—How Low Can It Go? Experts Weigh In Can-Luca Köymen, Investment Strategist at Sygnum Bank, also shared insights on Bitcoin's current price dynamics, stating that low spot volume is holding back its price movement. Bitfinex analysts suggest that Bitcoin's consolidation range is between $84,000 and its yearly open of $87,722. They indicated that September CPI on October 14 could disrupt this range, likely influenced by ETF flows. Bitcoin ETFs experienced a significant outflow of $484.9 million on Wednesday, marking the most substantial single-day outflow since June 25. BlackRock's IBIT was notably affected with a $207.7 million outflow, followed...

Blockchain.com files for CFTC prediction market licenses Blockchain.com Files for CFTC Prediction Market Licenses Blockchain.com, a prominent player in the cryptocurrency space, has officially filed an application with the U.S. Commodity Futures Trading Commission (CFTC) to secure licenses for offering prediction markets. This move represents a significant step into the lucrative and growing field of prediction markets, where users speculate on the outcomes of events by buying and selling contracts. The application, submitted in September 2023, aims to position Blockchain.com as a leader in this emerging market space. If approved, the licenses would allow the company to expand its offerings beyond traditional cryptocurrency trading...

XRP News: Ripple Challenges Wall Street for a Slice of $256B ETF Market Banks have long dominated this segment, but tighter limits on the risk they can take have opened room for nonbank firms. The primary report identifies Jane Street and Clear Street among firms gaining ground. Will XRP Benefit From This News? Ripple Prime is seeking business from additional investment managers, including hedge funds, while its October 6 announcement of brokerage, clearing, and financing services for Brevan Howard offers a concrete example of the broader institutional strategy. Hidden Road had also expanded into U.S. institutional crypto over-the-counter swaps, cross-margining, and financing after Ripple's acquisition. Together, those moves show a...

Securitize Brings Nvidia, Apple and Amazon Onchain With Tokenized Stocks on Solana Securitize Brings Nvidia, Apple and Amazon Onchain With Tokenized Stocks on Solana Securitize, a firm specializing in compliant tokenized securities, has announced the availability of tokenized shares of major companies like Nvidia, Apple, and Amazon on the Solana blockchain. This initiative is set to happen through their platform, allowing for the trading of these assets as tokens on-chain. The platform aims to leverage the efficiency and speed of the Solana blockchain to enable seamless trading of these tokenized stocks. This new development reflects a growing trend of integrating traditional financial assets into blockchain ecosystems, making them...

Wells Fargo Is Making a Move on Crypto, and Kraken Could Be the Key Wells Fargo Is Making a Move on Crypto, and Kraken Could Be the Key The agreement also described qualified custody capabilities becoming available as the relationship expands. Another partnership, announced on Oct. 5, connected Payward with Singapore Gulf Bank's SGB Net clearing network. The companies said the arrangement enables selected institutional clients in eligible Asian and Gulf jurisdictions to settle transactions around the clock. The initial offering supports US dollars, with additional clients and currencies planned. Singapore Gulf Bank will also use Kraken Prime as an additional source of digital asset liquidity and draw on Payward's markets to price...

Analysis-Crypto donors navigate mid-term spending dilemma after Senate bill defeat Analysis-Crypto donors navigate mid-term spending dilemma after Senate bill defeat Crypto PACs have previously targeted vulnerable adversaries. In 2024, Fairshake spent about $40 million successfully unseating former incumbent Ohio Senate Democrat Sherrod Brown, who criticized the industry's Washington influence. In a ​sign ​of what may come, the PAC is spending $30 million opposing his bid to return to the Senate. Digital Freedom Fund, a super ​PAC backed by crypto entrepreneurs Cameron and Tyler Winklevoss, is also spending $3 million opposing ‌Brown and supporting current Ohio Republican Senator Jon Husted, who voted for Clarity, federal filings...

BlockchAIn Digital Infrastructure Says Nebius Prepayment Funds $800M Data Center Build BlockchAIn Digital Infrastructure Says Nebius Prepayment Funds $800M Data Center Build Halisky said the preferred investment would be at the project company or special-purpose-vehicle level. Tang said management expects the preferred equity to carry an accrual rate in the low teens and an equity kicker of 10% to 20% at the project level, while stating that the company does not intend to permit conversion into AIB common stock. Tang said escrowed customer funds can be drawn for purchase orders and construction costs. He characterized the prepayments as advance rent. Halisky added that a portion treated as a rental prepayment or security deposit...

Elon Musk’s Two Companies: Divergent Paths on Bitcoin. Who Made the Smarter Move? With Bitcoin currently valued at about $83,000, SpaceX's holding is now worth approximately $1.55 billion, or about 2.3 times its initial investment. This makes SpaceX the ninth-largest public holder of Bitcoin, ahead of Tesla, which ranks twelfth. Additionally, SpaceX shareholders benefit from Bitcoin exposure bundled with the company's broader operations. Unlike buying Bitcoin directly, investors don't get to choose how to mix their investment. Tesla's Bitcoin Sale Cost It About $1.7 Billion in Hindsight Since Tesla sold its Bitcoin near $29,000, the cryptocurrency's value has jumped by approximately 186%. The coins Tesla converted into $936 million...

Wells Fargo Reportedly Talking With Kraken Parent Payward to Source Crypto Trading Liquidity Wells Fargo Reportedly Talking With Kraken Parent Payward to Source Crypto Trading Liquidity Wells Fargo is reportedly in discussions with Payward, the parent company of the popular cryptocurrency exchange Kraken, to explore sourcing crypto trading liquidity. This move underlines the bank’s expanding interest in the cryptocurrency sector as it looks for ways to strengthen its offerings and cater to the growing demand for digital assets. While no official agreement has been announced, insiders suggest that the talks are centered around the mechanics of integrating Payward's liquidity into Wells Fargo's digital platforms. Such a partnership...

SEC and CFTC Crypto Rules 'Fall Short' of Clarity, Says Rep. French Hill SEC and CFTC Crypto Rules 'Fall Short' of Clarity, Says Rep. French Hill The current regulatory frameworks proposed by the SEC and CFTC for cryptocurrencies have been criticized for lacking clarity, according to Representative French Hill. He emphasizes the need for clear guidelines to both protect consumers and provide a conducive environment for innovation in the crypto industry. Hill argues that the overlapping jurisdictions of the SEC and the CFTC create confusion for crypto companies trying to navigate the regulatory landscape. This confusion could hinder the growth of the industry in the United States, potentially pushing businesses to other countries...

Tether Signs Deal With Kazakhstan's Central Bank to Explore a Stablecoin and Tokenized Assets Tether Signs Deal With Kazakhstan's Central Bank to Explore a Stablecoin and Tokenized Assets Tether, known for issuing the popular USDT stablecoin, has signed a memorandum of understanding (MoU) with Kazakhstan's central bank. The agreement aims to pilot a digital tenge central bank digital currency (CBDC). Tether and Kazakhstan's central bank will explore innovative blockchain solutions, focusing on developing and implementing a CBDC and tokenized asset issuance. Kazakhstan has been progressively moving towards the integration of cryptocurrencies and blockchain technology in recent years. This collaboration is another step in the...