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In brief President Donald Trump said artificial intelligence could be “bigger than the internet, bigger than anything anyone’s seen.” Trump said AI regulation should not stifle the industry as the U.S. competes with China. The president defended AI data centers amid growing opposition to their electricity use and impact on local communities. President Donald Trump said Wednesday that artificial intelligence could become “bigger than the internet,” as he called for regulation that does not slow the industry and defended the rapid buildout of data centers and power plants across the United States.Trump’s remarks come as his administration pushes to maintain…
In brief Bitcoin jumped as much as 8.7% Wednesday to an intraday high of $69,749, its steepest one-day move since March 4 and its highest price since June 1. On Myriad, prediction odds flipped from roughly 70-30 favoring a bearish decline to a near coin flip within 24 hours. The rally followed a U.S. Treasury plan to double its long-bond buybacks and more than $1 billion in short liquidations wiped out in a single hour. Bitcoin ripped through $69,000 Wednesday, climbing as much as 8.7% to an intraday high of $69,749. That’s the steepest one-day move since March 4 and…
In brief President Donald Trump called on Congress to pass a “fair version” of the Clarity Act during a White House meeting with crypto and finance executives Wednesday. Trump said his administration wants clearer rules that allow crypto companies to operate in the U.S. rather than move overseas. Executives from Coinbase, Ripple, Robinhood, Kraken and other crypto and financial firms attended the gathering. President Donald Trump called on Congress to pass a “fair version” of the Clarity Act Wednesday, telling crypto and finance executives at the White House that market structure legislation is the next step in his administration’s digital…
Traders betting against Bitcoin and the crypto markets are getting liquidated as BTC’s price pushes higher. In the last 24 hours, a total of $1.93 billion in leveraged crypto bets have been liquidated, according to the market data tracker CoinGlass. The vast majority of the liquidations hit traders going short, coming in at $1.75 billion. Long positions accounted for just $179.28 million. Bitcoin led the wipeouts with roughly $1.15 billion liquidated, nearly all from short positions. Ethereum followed at about $516 million, also dominated by shorts. Over 127,000 traders were forced out in total. Bitcoin is now trading at approximately…
Daily liquidations of Bitcoin positions surged on Wednesday after the price of the leading digital asset flirted with $70,000. Over $1.7 billion in positions held by traders shorting the biggest cryptocurrency have been closed in the past 24 hours, according to Coinglass data. And the vast majority — $1.5 billion — of those positions were liquidated in the past four hours. Bitcoin on Wednesday morning traded briefly as high as $69,000 before dipping again. It was recently priced at $68,253 after jumping more than 5% over a 24-hour period. The price surge comes after bitcoin had largely been flat over…
In brief Maya Protocol halted MAYAChain after an attacker extracted roughly $1.7 million in Bitcoin and other assets. A post-mortem identified six bugs that created a false balance in a liquidity pool. CACAO plunged nearly 89% as the value of MAYAChain’s liquidity pools fell by roughly $10.9 million. Cross-chain liquidity network Maya Protocol halted operations Tuesday after an attacker exploited six software flaws to drain roughly $1.7 million in Bitcoin and other assets.In a post on X explaining what happened, Maya Protocol founder AaluxxMyth, also known as Maya, said the team halted the network to contain the damage and would…
U.S. President Donald Trump is set to host crypto bigwigs at the White House Wednesday. The meeting — first reported last week by POLITICO — will see executives from the prediction market and digital asset space meet to discuss regulation. According to reports, some of the big names due to meet include executives from Coinbase, Kraken parent company Payward, and Blockchain.com. It hasn’t been reported which prediction markets executives will be at the meeting. Despite the long-awaited crypto market structure bill — the Clarity Act — being delayed, regulators are moving ahead with digital asset initiatives. The Securities and Exchange…
A teacher lost nearly $9,000 after scammers allegedly posed as Wells Fargo’s fraud department and convinced her to move money while pretending to protect her account. Jayme Eubanks says the ordeal began when she received a text message asking whether she recognized a charge on her bank account, reports WBRC News. She says she did not recognize the transaction and responded that she had not authorized it. The following day, Eubanks received a phone call from someone claiming to work for Wells Fargo’s fraud department. The caller allegedly told her that her account had been compromised, that she needed a…
Bitcoin blew past $68,000 on Wednesday, jumping nearly 3% over a 24-hour period after news dropped that the U.S. Treasury planned to more than double the size of its government debt repurchases. The price of Bitcoin was recently at $68,473 at 10.30am in New York after briefly touching $68,982. The sharp jump came as yields dropped. Over the past week, the biggest and oldest cryptocurrency is up over 3%. Bitcoin had recently been flat over a 30-day period but is now also up by close to 3%. The Treasury Department said Wednesday that it will more than double the size…
Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt.GM!Today’s top news: Crypto majors are green with SOL leading; BTC +0.5% at $64.4k SEC proposes its first formal crypto rules with Regulation Crypto Assets Vlad Tenev posts “Tokenized Stocks in America,” calls on politicians to modernize securities rules Citi to introduce Bitcoin custody for its institutional clients Bitcoin ETFs see $487M in net inflows to start the week 🏛️ SEC Proposes First Formal Crypto Rules for Token FundraisingFor a decade, the SEC regulated crypto fundraising…
A Georgia businessman has been accused of obtaining $24 million in bank loans using allegedly forged documents and fabricated financial records. Thomas Mwangi, 48, of Atlanta, was arraigned August 10th after a federal grand jury charged him with two counts of bank fraud and 13 counts of wire fraud, reports CBS. Mwangi previously owned and operated CAMaster, a Cartersville-based manufacturing firm. Prosecutors allege he targeted First Financial Bank while seeking financing to acquire two Texas companies in 2023. Authorities accuse Mwangi of falsely claiming he had millions of dollars available as collateral for the loans. In one alleged instance, he…
In brief Edward Zimbardi, 59, of Georgia, appeared in federal court to face 12 counts of wire fraud, 12 counts of money laundering, and one conspiracy count after Fijian authorities deported him to the U.S. on Aug. 14 in coordination with the FBI and State Department. Prosecutors allege that from June 2022 to August 2023 he ran a $165 million Ponzi scheme called The Crypto Program, promising a guaranteed 25% monthly return and directing investors to send crypto into wallets he secretly controlled. The DOJ says he gambled over $34 million on risky currency trades, paid earlier investors with newer…
In brief Cypherpunk Technologies launched what it calls the world’s largest Zcash mining fleet via a $33.33 million equity-based deal with Winklevoss Capital. The move extends the firm from accumulating ZEC to producing it: already the largest corporate holder with ~323,394 coins (1.92% of supply). The launch caps a volatile run for the Winklevoss-backed Zcash bet. Cypherpunk Technologies, the Winklevoss-backed privacy firm building a treasury around the privacy coin Zcash, has stood up what it calls the world’s largest Zcash mining operation, expanding beyond simply accumulating the privacy coin to producing it.The Nasdaq-listed company said Monday it launched Cypherpunk Mining…
A federal court has approved a $700 million settlement resolving a multistate antitrust lawsuit against Google. Google is agreeing to a massive payout to resolve claims that it monopolized Android app distribution and in-app payments through the Google Play Store, resulting in consumer overcharges of up to 30% per transaction, says the Washington State Attorney General’s office. The settlement concludes a five-year antitrust case and will provide refunds to consumers nationwide who were affected by the company’s alleged conduct. Washington consumers are expected to receive about $13 million from the settlement, with approximately 2.4 million residents potentially eligible. Most of the…
In brief 43 of WorldClaw’s 90 AI models came from Chinese developers. The platform offers models from Alibaba, Baidu, Z.ai, DeepSeek, and Moonshot. WorldClaw accepts World Liberty’s USD1 stablecoin as payment. President Donald Trump-backed World Liberty Financial is working with an AI company that offers models from Chinese tech firms his administration has flagged over national security concerns, Reuters reported Monday.According to Reuters, the companies are collaborating to expand the use of World Liberty’s USD1 stablecoin, which WorldClaw accepts as payment for access to its AI models. World Liberty executive Ryan Fang also serves as an adviser to WorldClaw.Myriad: Will…
An elderly Virginia woman lost $77,000 after scammers allegedly impersonated Amazon, Bank of America and the Federal Trade Commission (FTC) in a scheme designed to convince her that her identity had been tied to criminal activity. The Alexandria resident was first contacted June 26th by a woman calling herself “Anna Covery,” who claimed to work for Amazon and warned that someone had used the woman’s account to purchase a $1,400 laptop and $200 worth of accessories, reports ALXNow Although the woman said she did not have an active Amazon account, the caller allegedly provided a fake employee ID, complaint number…