Author: James Wilson

A three-judge federal appeals panel has rejected Kalshi’s attempt to block Nevada gaming regulators from enforcing state laws against its sports event contracts. Summary The Ninth Circuit found that Kalshi’s sports contracts are likely bets rather than swaps. The 3-0 ruling allows Nevada to enforce its gaming laws while litigation continues. The decision conflicts with an April ruling involving New Jersey and Kalshi. Nevada’s challenge to Kalshi’s election contracts will return to the district court. The U.S. Court of Appeals for the Ninth Circuit ruled on Aug. 28 that Kalshi had not shown the Commodity Exchange Act likely overrides Nevada’s…

Former U.S. Defense Secretary Mark Esper has urged the Senate to pass the CLARITY Act before its Sept. 15 procedural vote, arguing that delayed crypto rules could weaken U.S. financial and national security. Summary Mark Esper said regulated U.S. crypto markets would improve oversight of digital asset transactions. The Senate’s Sept. 15 cloture vote requires 60 votes to advance the bill. House lawmakers approved the CLARITY Act by a 294–134 vote in July 2025. Stablecoin rewards, political ethics, and decentralized finance remain central points of dispute. The Financial Times published Esper’s policy argument on Aug. 7, with the former defense…

An ongoing attack against Solana-based crypto card platform Avici has reportedly drained more than $1 million from user collateral accounts while sending its AVICI token to an all-time low. Summary The suspected attacker held 10,005 SOL and about $11,600 in stablecoins at one checkpoint. On-chain records showed repeated calls that added an administrator before collateral withdrawals. Avici acknowledged a card balance withdrawal issue but did not confirm the reported loss. AVICI fell 49.4% within 24 hours and touched a record low of $0.2175. Avici attacker adds administrators before withdrawals According to reports, the suspected attacker had collected 10,005.03 SOL, worth…

A Bitcoin wallet linked to convicted Irish drug dealer Clifton Collins has transferred 500 BTC worth about $39.56 million to Coinbase Prime after the coins were reportedly inaccessible because their private keys had been lost. Summary 500 BTC, worth approximately $39.56 million, was sent to Coinbase Prime. The transfer came from a group of wallets linked to Clifton Collins’ 6,000 BTC stash. Irish authorities had recovered 1,500 BTC from the wallet group by July. A Coinbase Prime deposit does not confirm that the transferred Bitcoin has been sold. Collins-linked Bitcoin has moved to Coinbase Prime Lookonchain said in an Aug.…

North Korea-linked Lazarus Group has transferred 244.148 Bitcoin worth about $19.42 million, bringing fresh attention to wallets associated with one of the crypto industry’s most active hacking operations. Summary Lazarus Group transferred 244.148 BTC worth about $19.42 million, according to Lookonchain. The transaction’s destination and connection to any earlier theft remain undisclosed. Another Lazarus-linked wallet moved 262.2 BTC to a new address earlier in August. U.S. sanctions generally prohibit Americans from dealing with property linked to the Lazarus Group. Lazarus Group moves 244 BTC between wallets Lookonchain reported the transfer in an Aug. 28 X post, saying wallets attributed to…

Bullish has provided USD.AI with a $100 million stablecoin debt facility to fund loans secured by graphics processing units used in artificial intelligence infrastructure. Summary Bullish will supply $100 million in stablecoin liquidity for GPU-backed loans. USD.AI offers non-recourse financing secured solely by computing hardware. Bullish plans to list sUSDai and support trading through a market-making program. Bullish shares have gained about 45% over the past month. Bullish said in a Friday announcement that the facility will give USD.AI capital to finance operators purchasing high-performance computing equipment, extending the exchange operator’s exposure to tokenized assets and AI infrastructure. Developed by…

HyENA has announced plans to close every market between Aug. 31 and Sept. 2 after processing more than $4 billion in trades for over 12,000 users. Summary HyENA will remove one market each hour from Aug. 31 through Sept. 2. Open positions will settle automatically, while margin will return to users’ spot balances. HLPe depositors can redeem their holdings and earned rewards through Upshift at a 1:1 rate. HyENA generated nearly 2.5 million USDe in rewards but will not issue a token. HyENA will remove markets over three days HyENA said in an Aug. 28 shutdown announcement that it would…

Tokenized gold has moved deeper into crypto lending after Aave’s XAUT-backed debt reached a $25 million ceiling and Arch Lending added loans against the two largest gold tokens. Summary Aave’s $25 million XAUT debt ceiling was fully used before additional capacity filled within 24 hours. Arch’s Himanshu Sahay said investors increasingly want to use tokenized gold instead of passively holding it. Arch now accepts PAXG and XAUT as collateral for loans at up to 75% LTV. Borrowers retain their gold exposure but face interest, liquidation, custody, and issuer risks. Arch co-founder and chief technology officer Himanshu Sahay told crypto.news that…

Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company. Amid market volatility, ETF inflows have maintained institutional investor interest, while UE Crypto provides XRP holders with an alternative cloud-mining option. Summary Cumulative net inflows into XRP spot ETFs reached a record $1.637 billion, showing continued institutional demand despite weakness in XRP price. XRP ETFs recorded about $18.47 million in daily inflows on Aug. 27 even as the token declined, creating a…

Solana’s proposal to double its annual disinflation rate has cleared a governance vote with 67% support, placing the network on course to reduce projected SOL issuance by 18.9 million tokens over six years. Summary 67% of participating SOL backed the faster disinflation schedule, narrowly exceeding the two-thirds requirement. 60.7% of eligible stake participated, comfortably meeting the one-third quorum. SOL inflation would decline twice as fast but retain its existing 1.5% minimum rate. A separate resource-fee proposal failed after receiving 53.9% support. Solana inflation proposal narrowly clears required vote Solana’s official governance dashboard showed that SGP-0002, called Double Disinflation, finished voting…