New York state officials target the prediction market platform Kalshi in a lawsuit over claims of unlicensed betting on sports, elections and other outcomes. The action seeks to halt the company’s activities in the state while imposing significant financial penalties, according to New York Attorney General Letitia James. According to the lawsuit, the platform’s markets …
Monthly archives: August 2026
Trump’s legal loophole around the Supreme Court is keeping inflation alive – and trapping Bitcoin in the Fed’s crosshairs
The Supreme Court gave Donald Trump a pretty direct answer in February: the emergency law he had used to tax imports from nearly everywhere didn’t give him the authority to impose tariffs. However, Washington didn’t see that as a locked door and treated it more like a disappointing result from a key-cutting machine. The administration …
New York asks judge to force Kalshi to hand over the names, wagers, and losses of its local bettors
New York has asked a Manhattan state court to permanently block prediction-market exchange Kalshi from offering what the state calls unlicensed sports wagering to New Yorkers, escalating a fight over whether federal commodities oversight shields the platform from state gambling laws. A verified petition dated July 31 asks the court to order Kalshi to identify …
Ethereum just outpaced Bitcoin with $365 million in ETF inflows, but on-chain data shows the real bottom isn’t in yet
Ethereum outpaced Bitcoin in July as stronger investment-product demand and corporate accumulation powered its first sustained relative advance in months. Data from CryptoSlate shows that ETH gained 19% during the month, climbing as high as $1,970 before retreating to $1,868 as of press time. Bitcoin rose 8% over the same period but repeatedly failed to …
The sudden collapse of a $20 billion AI fund reveals why Bitcoin is the first thing Wall Street sells when margin calls hit
A $20 billion AI hedge fund gained 439% through June, lost roughly two-thirds of its value in July, and sold most of a $16 billion public-stock portfolio as leverage turned against it. The collapse offers a warning for Bitcoin: when Wall Street needs cash quickly, the first asset sold may not be the one that …
Coinkite Under Fire for Retaining Customer Emails After $88M Coldcard Hack
The company, which is facing issues with its Coldcard wallet, sent security notices to customers to warn them about the high risk of losing their bitcoin. Nonetheless, Rodolfo Novak, co-founder and CEO of Coinkite, had assured that the company retained customer data for just 90 days after a purchase. Coinkite Faces Criticism For Leveraging Customer …
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Stablecoin Supply Sheds $15 Billion in Biggest Drop Since Terra
The stablecoin market cracked this summer, shedding roughly $14.56 billion after new federal rules wiped out interest payments on digital dollars. Moves like this tend to flush out yield-driven capital first, leaving traders scrambling to reposition. Data collected by defillama.com over the past seven days shows the stablecoin sector bled another $2.767 billion. Total stablecoin …
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Bitcoin Drive Engaged: Saylor’s New Message Sparks Buy Speculation
Michael Saylor’s latest tracker post has revived expectations that Strategy could announce another bitcoin purchase on Monday. The signal follows recent treasury sales that reduced the company’s holdings to 843,775 BTC. Saylor’s ‘Bitcoin Drive’ Post Revives Buy Expectations Strategy Inc. (Nasdaq: MSTR) Executive Chairman Michael Saylor reignited speculation that the company will announce another bitcoin …
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AI Stocks Trade Like Memecoins While Bitcoin Barely Moves – Week in Review
This editorial is from this week’s edition of the newsletter Week in Review, sent to subscribers on Friday. Subscribe to the newsletter to get this weekly editorial the second it’s finished. The newsletter also includes the biggest stories of the week, with a comment on each story. First, an important security warning. Coldcard users, pay …
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Hardware Wallets Expose Bitcoin Holders to Massive Losses After Firmware Flaw Enables Remote Drains
Hardware wallet users face sudden losses exceeding $70 million in Bitcoin (BTC) after a critical firmware flaw allows remote draining of funds. Attackers exploited weak randomness in seed phrase generation on affected Coldcard devices to reconstruct private keys without any physical access. According to CoinKite, the error caused some devices to generate recovery seeds using …
Strategy leaves preferred STRC dividend at 12% as price still below par
Investors have previously benefited from a payout boost when the preferred STRC shares traded well below their $100 par value for a month. While Strategy’s preferred STRC shares ended July well below their $100 par value, investors were told that their August dividend will not increase, holding at 12%. Executive chairman Michael Saylor delivered the …
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New Car Buyers Shoulder $1,000-Plus Monthly Payments That Sap Wealth Building
New car buyers face increasingly heavy monthly loan obligations exceeding $1,000. Data from the authoritative online automotive research and car-shopping platform Edmunds reveals that one in five Americans who bought a new vehicle in Q2 2026 is handing over $1,000 or more per month on their car loan, reports Moneywise. The average amount financed for …
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Russia Goes After Durov, Bessent Slams CLARITY Opponents, and More – Weekly Recap
This week’s stories mixed Bitcoin history, U.S. regulation, new financial markets, DeFi consolidation, and geopolitical pressure. Satoshi Nakamoto’s famous “I don’t have time to try to convince you” line turned 16, while Scott Bessent demanded an immediate Senate vote on the CLARITY Act. CME Group unveiled sports index futures, Aave moved to exit six low-use …
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Seed Phrases: The 12 Words Standing Between You and Losing Everything
On Jan. 10, 2026, a bitcoin and litecoin holder handed over their 12-word recovery phrase to someone posing as Trezor support and watched $282 million vanish in minutes, not because any encryption was broken, but because those 12 words are the entire wallet, and whoever holds them holds the funds. The Words Aren’t a Password. …
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Moscow Bitcoin Mining Ban Hits Data Centers Until 2032
The government of Russia has included the city of Moscow and other regions in a 2024 decree banning cryptocurrency mining activities from August 15 to December 31, 2032. The amendment also includes the Moscow region and some territories of the Kursk region. Russia Expands Cryptocurrency Ban Decree Reach, Includes Moscow and Moscow Region The Government …
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