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Federal prosecutors have secured a nine-year prison sentence against a California man who ran a Ponzi scheme for more than 25 years. Edwin Emmett Lickiss Jr., 78, of Danville pleaded guilty to wire fraud and money laundering after taking more than $9.5 million from at least 93 victims from 1998 through September of 2024, says the U.S. Attorney’s Office for the Northern District of California. Lickiss owned Foundation Financial Group, an investment firm that served clients in California, Idaho and other states. Prosecutors say he told investors he would put their money into exclusive tax-free bonds with returns as high as 30…

In brief The Fed raised its benchmark rate by 25 basis points to a range of 3.75% to 4%, its first hike since 2023, after traders had priced in a 93% chance of the move, per CME’s FedWatch tool. The vote was backed by all the Fed Governors. Bitcoin spiked briefly in the minutes after the decision. The Federal Reserve raised interest rates by a quarter point Wednesday, its first hike since 2023, lifting the federal funds rate to a target range of 3.75% to 4% from 3.50% to 3.75%.Bitcoin remained flat in the minutes before and after the announcement,…

In brief Developers are targeting October 10 for the final release. The update speeds up some block checks and changes a transaction format used by wallets. Security fixes address malicious wallet names and excessive server memory use. The software that lets users independently verify Bitcoin payments is getting an update aimed at speeding up those checks and fixing security flaws, with a release targeted for October.Bitcoin Core 32.0 entered release-candidate testing on Monday, according to the project’s schedule. Developers are aiming for October 10 to deliver the finished version, though testing could change that timeline.Myriad: Where does Bitcoin go next?…

Bitcoin miners have signed more than $100 billion in AI contracts while generating barely $1.1 billion in annualized revenue.More than 4 gigawatts of artificial intelligence and high-performance computing capacity are under contract across publicly traded miners tracked by CoinShares, but only about 550 megawatts are currently billing.Still, investors are assigning a steep premium to companies making the AI transition. Miners with contracted AI or HPC capacity trade at an average of 12.9 times enterprise value to next-12-month sales, compared with 3.7 times for miners without such agreements.However, this premium is increasingly tied to an asset miners accumulated for Bitcoin but AI…

In brief Meta plans to release a camera-free smart glasses model, internally code-named Luna, as soon as October. Luna reportedly swaps the camera for six built-in microphones tied to Meta AI and Meta’s new Muse agent, plus a side button and slimmer temples. The move follows a year of lawsuits, government probes, and police memos targeting Meta’s camera-equipped Ray-Ban glasses, nicknamed “pervert glasses” online. Meta wants out of the “pervert glasses” business—at least for one product line.The company is developing a camera-free pair of smart glasses, internally code-named Luna, and could ship it as soon as October, The Information reported…

In brief The House Ways and Means Committee approved the Digital Asset Tax Certainty Act. The proposal covers transaction fees, stablecoins, mining, staking and lending. The bill must still pass both chambers of Congress before reaching the president. The House Ways and Means Committee approved the Digital Asset Tax Certainty Act Wednesday, sending a proposal to overhaul crypto taxation to the full House.The committee announced the markup on Monday, scheduling the session for lawmakers to review H.R. 10357, consider amendments and vote on whether to send it to the full House.Myriad: Will Democrats sweep midterm elections? Click to make your…

Bitcoin’s price swung before settling largely unmoved over a 24-hour period after the Federal Reserve hiked interest rates — as expected — for the first time since 2023.  The leading cryptocurrency was recently priced at nearly $75,813 after dropping as low as $75,355 in the hour after the U.S. central bank gave its decision to increase the benchmark federal funds rate to a range of 3.75% to 4%.  Over a seven-day period, the coin is down nearly 4%.  Traders had bet there was a more than 90% chance that the Fed would raise interest rates ahead of its September meeting.…

In brief The Fed raised its benchmark rate 25 basis points to a 3.75%-4.00% range in a unanimous vote, its first hike since 2023. Warsh said the economy “has indeed strengthened” but called inflation “the problem,” and declined to comment on Trump’s reaction. Bitcoin briefly spiked but then stabilized near $75,500, as the hike had already been priced in by markets. The Federal Reserve raised interest rates on Wednesday for the first time since 2023, lifting its benchmark range to 3.75%-4.00% in a unanimous vote. It’s the clearest signal yet that Chair Kevin Warsh’s inflation talk was never just talk.”The…

Commodity Futures Trading Commission Chair Mike Selig has said that the top regulator will go ahead and use its powers to advance crypto legislation despite the Clarity Act being blocked.  In a Wednesday statement released on X, Selig said that the regulator would still help U.S. President Trump “get the job done.”  Lawmakers blocked the Clarity Act on Tuesday in a procedural vote, with the long-awaited legislation missing the 60 votes needed to advance it. The bill aims to formally divide oversight between regulators, distinguishing which digital assets are securities, commodities or stablecoins.  “Americans deserve regulatory clarity, legal certainty, and…

In brief Zuckerberg said AI labs can take safety measures without waiting for competitors. Meta delayed Muse for several months to address safety and security, he said. His comments follow calls from rival executives to slow development as AI capabilities advance. Meta CEO Mark Zuckerberg pushed back against calls for a coordinated slowdown in artificial intelligence development, saying companies can take safety measures themselves—and have business reasons to do so.In a post on X on Tuesday, Zuckerberg argued that users want AI they can trust and that companies face potential liability when their systems cause harm. He pointed to Meta’s…

Morgan Creek Capital CEO Mark Yusko has said that bitcoin’s fair value is $105,000 based on Metcalfe’s Law.  Speaking on Bitcoin Magazine TV on Wednesday, the investment management firm said that now was the best time to buy the leading cryptocurrency as it is “on sale.”  Metcalfe’s Law, an observation by Internet entrepreneur Robert Metcalfe, states that the value of a network is proportional to the square of the number of users. Bitcoin touched a high in October 2025 of $126,080 but was recently trading 40% lower than that, at $75,701.  “So the fair value of bitcoin today, based on…

Deutsche Bank said Wednesday that it would debut a bitcoin custody service for European corporate and institutional clients this year.  The German multinational said that the service was subject to the completion of the applicable regulatory timeline. Deutsche Bank’s announcement comes as top banks worldwide launch crypto custody services. BNY Mellon, State Street, Standard Chartered, U.S. Bank, and Citigroup have all either launched or committed to direct crypto custody over the past 18 months. “Digital assets are not a replacement for the traditional financial system but an important complement to it,” Gerald Podobnik, Co-Head Corporate Bank, Deutsche Bank, said in…