Author: James Wilson

Citigroup CEO Jane Fraser has backed passage of the CLARITY Act while continuing to push for changes to its stablecoin reward rules, keeping the banking industry’s main concern with the crypto bill alive ahead of a Senate procedural vote expected next month. Summary Citigroup CEO Jane Fraser supports passing the CLARITY Act but wants changes to its stablecoin reward rules. Fraser warned that stablecoin rewards could pull deposits from banks and reduce their ability to provide credit. A Senate compromise would ban rewards for simply holding stablecoins while allowing incentives tied to payments and transactions. The stablecoin yield dispute remains…

A fake cryptocurrency job offer that infected a company-issued device has led to US$11.8 million in losses after attackers gained access to corporate systems and bypassed transaction controls, Singapore authorities have said. Summary A fake crypto job offer led to US$11.8 million in losses after malware infected a company device. Attackers stole a session token, bypassed multi-factor authentication and accessed the company’s Bitbucket repository. Stolen credentials were later used to bypass transaction limits and approval checks for crypto transfers. Singapore authorities urged firms to secure credentials, code repositories and deployment systems. The Singapore Police Force and Cyber Security Agency of…

South Korean lawmaker Park Soo-young has called for the government to withdraw its planned 22% tax on virtual asset gains before the levy takes effect on Jan. 1, 2027, arguing that the policy unfairly targets roughly 13 million crypto users while investment taxes on domestic stocks have been scrapped. Summary South Korean lawmaker Park Soo-young has called for the planned 22% crypto gains tax to be withdrawn. The tax is scheduled to take effect on Jan. 1, 2027, with an annual deduction of 2.5 million won. Park said the tax could push more Korean capital to overseas crypto exchanges. The…

The U.S. Securities and Exchange Commission cancelled its Aug. 14 open meeting on Regulation Crypto late Thursday, delaying a vote on whether to publish proposed rules for certain crypto asset offerings.  Summary SEC cancelled its August 14 Regulation Crypto meeting, leaving the proposal without a new date. Regulation Crypto would create tailored offering rules for certain investment contracts involving digital asset offerings. The SEC said an unforeseen scheduling issue forced the postponement, according to an agency spokesperson. Atkins previously outlined startup, fundraising, and investment contract safe harbors as components of Regulation Crypto. Senate cloture on the CLARITY Act is scheduled…

Norway’s Government Pension Fund Global disclosed a $81.87 million position in BitMine Immersion Technologies, giving the world’s largest sovereign wealth fund indirect exposure to Ethereum through a U.S.-listed corporate treasury company rather than through a direct ETH purchase. Summary Norges Bank held 6,151,062 BitMine shares worth $81.87 million at June 30, SEC filings show. The position gives Norway indirect Ethereum exposure through equity, not direct ownership of ETH itself. BitMine reported 5,805,238 ETH holdings on August 9, with 5,067,309 ETH already staked through validators. BitMine was absent from Norges Bank’s December 2025 filing, while acquisition timing remains publicly undisclosed. Norway’s…

The Commodity Futures Trading Commission is reviewing prediction market “mention markets” over concerns that contracts tied to specific spoken words may be unusually easy to manipulate, NPR reported late Aug. 13, citing two people with direct knowledge of the inquiry.  Summary CFTC is reviewing mention markets over manipulation risks, according to two people familiar with probe. Kalshi removed sports mention markets until further notice while keeping political and earnings markets live. CFTC rules require designated contract markets to list only contracts not readily susceptible to manipulation. Kalshi previously flagged Trump teleprompter operator Gabriel Perez after suspicious mention-market trades produced over…

Conflux Network has scheduled its v3.1.0 hard fork for Aug. 25, requiring node operators to install the update before seven network proposals and a private security fix take effect. Summary Conflux node operators must install v3.1.0 before the network reaches the Aug. 25 deadline. Seven proposals will improve Ethereum compatibility and correct transaction and staking problems. CIP-173 is expected to take effect on Aug. 26, one day after the upgrade deadline. Conflux will disclose details of a private security fix after the hard fork is completed. Conflux v3.1.0 requires a mandatory update Conflux Network said in an Aug. 3 announcement…

Ether.fi has upgraded its non-custodial neobank with tokenized stocks and metals, portfolio-backed loans near 4%, payments in over 30 currencies, and programmatic ETHFI buybacks. Summary Ether.fi users can trade tokenized assets and hold them inside self-custodial vaults. An Aave market on Optimism supports loans against portfolios at rates currently near 4%. Cash card users receive 3% cashback, while higher membership tiers remove certain foreign-exchange fees. Tokenized stock trading remains unavailable in the United States and some other markets. Ether.fi neobank combines trading, loans, and payments According to Ether.fi’s Thursday announcement, the “Summer” release places crypto trading, tokenized real-world assets, portfolio…

Goldman Sachs Vice Chairman Robert Kaplan has backed the Federal Reserve’s 9–3 decision to keep interest rates at 3.50%–3.75% in July, arguing that policymakers needed more time to assess inflation before acting. Summary The Fed held rates at 3.50%–3.75% in July despite three votes for an increase. Kaplan said incoming data should determine whether policymakers raise rates in September. AI investment, tariffs, labor shortages, and oil prices could keep inflation elevated. Kaplan said fiscal deficits, not Fed policy, are pushing long-term Treasury yields higher. Why Kaplan supports the Fed rate pause Bloomberg Television reported on Aug. 13 that Kaplan, a…

Goldman Sachs Vice Chairman Rob Kaplan has backed the Federal Reserve’s 9–3 decision to hold interest rates at 3.50%–3.75% in July while urging policymakers to keep their options open before September. Summary Kaplan said the Fed was right to leave interest rates unchanged at its July meeting. Three policymakers supported a quarter-point increase, showing disagreement within the rate-setting committee. AI investment, tariffs, labor limits, and oil prices are creating competing inflation forces. Kaplan said fiscal deficits and bond supply concern him more than the federal funds rate. Why Kaplan supports the Fed’s July rate hold Bloomberg reported that Kaplan, a…