Author: James Wilson
American Bitcoin price (American Bitcoin Corp, NASDAQ) has spent the last 24 hours grinding higher in a volatile post-crash bounce, trading in a wide intraday range but ultimately sitting roughly mid-range after yesterday’s lock-up‑driven wipeout. Summary American Bitcoin price fell nearly 40% after pre‑merger private placement shares came unlocked and early investors sold. Eric Trump called the volatility expected, said fundamentals are “virtually unmatched,” and pledged not to sell his shares. Despite strong Q3 earnings and 4,090 BTC in treasury, ABTC is down about 76.5% from its September peak amid a broader crypto equity slump. Traders watched American Bitcoin price…
A senior Kremlin adviser wants Russia’s crypto mining classified as an export, arguing tens of thousands of Bitcoins and import payments must be reflected in trade data. Summary Kremlin aide Maxim Oreshkin says mined crypto effectively flows abroad and should be recorded as an export impacting Russia’s balance of payments and FX market. Industry leaders estimate Russian miners produced about 55,000 BTC in 2023 and roughly 35,000 BTC in 2024, with daily income near 1 billion rubles. Russia’s legal mining regime includes registration, tax rates up to 25% for firms, but widespread illegal operations and power theft are costing the…
Ex-Citadel employees raised $17M for Fin, a stablecoin-based app offering instant, large-value cross-border transfers, positioning it as a user-friendly challenger to big banks. Summary Ex-Citadel employees Ian Krotinsky and Aashiq Dheeraj secured $17 million led by Pantera, with Sequoia and Samsung Next backing Fin. Fin uses stablecoin rails for near-instant, lower-fee transfers between users, bank accounts, and crypto wallets, focusing on large-value and cross-border flows. The launch comes as banks and regulators accelerate stablecoin plans, including a euro stablecoin consortium, Sony Bank’s USD token, and upcoming FDIC rules. Former Citadel employees Ian Krotinsky and Aashiq Dheeraj have raised $17 million…
Brian Armstrong and Larry Fink debate Bitcoin, tokenization, regulation and AI, sketching a crypto‑infused, tech‑driven future for global finance. Summary Fink recasts Bitcoin as “an asset of fear” and a long‑term hedge, while Armstrong dismisses the Buffett‑Munger “zero” thesis. Both see 2025 as a regulatory turning point, with U.S. law shifting crypto from gray zone to “well‑lit establishment” amid heavy industry lobbying. Tokenization and stablecoins, they argue, will strip out friction, reshape banks’ business models and determine whether the U.S. can keep pace with India and Brazil. Brian Armstrong and Larry Fink use the DealBook Summit stage to sketch a…
Citadel urges SEC to regulate DeFi like TradFi, prompting Hayden Adams to accuse the firm of attacking open, peer-to-peer finance. Summary Hayden Adams accused Citadel and founder Ken Griffin of attacking DeFi developers by asking the SEC to treat them as traditional intermediaries and claiming the firm has quietly lobbied on this for years. Citadel’s SEC letter argues DeFi venues and actors (from front-end operators to validators and LPs) effectively function as exchanges or broker-dealers and should face technology-neutral regulation, including for tokenized equities. The firm warned that tokenized U.S. stocks on DeFi could create a shadow equity market and…
Binance is once again at the center of a legal dispute following a 2022 incident that led to the loss of significant user funds. Summary Florida’s appeal court has reinstated a lawsuit claiming Binance failed to freeze and recover roughly 1,000 BTC stolen in 2022. The ruling found Binance maintained sufficient U.S. and Florida contacts through affiliates and infrastructure, overturning a lower court’s dismissal. The case returns to trial court, adding pressure on offshore exchanges facing similar negligence and stolen-asset lawsuits. A Florida appeals court has reopened a long-running dispute involving Binance after finding the case deserves another look. According…
Connecticut has taken action against several major trading platforms after finding that their sports-related markets crossed a legal line. Summary Connecticut ordered Kalshi, Robinhood, and Crypto.com to stop offering unlicensed sports event contracts. Regulators say the platforms lack age checks, security standards, and consumer protections required in the state. Kalshi challenged the order in federal court, while Robinhood cited CFTC oversight and Crypto.com has yet to respond. Connecticut moved to block several fast-growing prediction market platforms from offering sports-related contracts in the state, setting up the latest clash over where trading ends and gambling begins. The action was announced on…
When Sony Bank tapped Bastion to become its sole stablecoin issuance provider, it marked one of the clearest signals yet that the world’s largest enterprises are preparing for a future built on digital dollars. For Nassim Eddequiouaq, CEO of Bastion, the partnership is more than a milestone — it’s validation of a vision he’s been driving toward for years: regulated, enterprise-grade stablecoin infrastructure that can operate at global scale. Summary Sony Bank has selected Bastion as its exclusive stablecoin issuance provider, signaling a major push by a global enterprise into regulated digital dollars. Bastion will manage issuance, reserves, compliance and…
Coinbase Institutional released its monthly outlook report on Wednesday, indicating that conditions may favor a market reversal in December following Bitcoin’s underperformance in November. Summary Bitcoin underperformed in November, falling more than three standard deviations below its 90-day average, while U.S. equities saw milder declines. Market conditions may favor a December reversal, as the end of quantitative tightening and potential Fed rate cuts could unlock sidelined cash into Bitcoin and crypto vehicles. “I am bearish on the Fed and what they continue to do to the value of the dollar,” James Lavish says. “Bitcoin captures this.” The cryptocurrency exchange’s institutional…
Ethereum has officially implemented its Fusaka upgrade, designed to increase the network’s transaction processing capacity while maintaining security and decentralization standards, according to network documentation. ETH co-founder Vitalik Buterin tipped his hat to the developers behind the initiative. Summary Ethereum rolls out Fusaka upgrade to boost transaction processing while keeping security and decentralization intact. Key innovation is EIP-7594 (PeerDAS), allowing nodes to verify block data without downloading everything, improving efficiency. Upgrade supports scaling and DeFi growth, helping Ethereum handle millions of daily transactions and maintain its leading smart contract ecosystem. “Big congrats to the Ethereum researchers and core devs who…