Stripe and Advent reportedly offered to buy PayPal for $53 billion, at a 28% premium compared to the company’s Tuesday closing price. Payments company Stripe and private equity firm Advent International reportedly made a joint offer to acquire PayPal Holdings. The offer includes about $50 billion in committed financing, Reuters reported Wednesday, citing sources familiar...Continue Reading

Cathie Wood’s ARK Invest added $13.9 million worth of Circle shares on Tuesday, extending its July buying spree to 725,517 shares amid a steep stock decline. Cathie Wood’s ARK Invest is doubling down on its bet on USDC issuer Circle even as the company’s stock remains under pressure. ARK bought another 220,000 shares of Circle...Continue Reading

“We are disappointed by this decision and believe it is unfair to Kalshi,” the company’s legal counsel said on X. Kalshi says it is being put in an “impossible position” after the US commodities regulator on Tuesday said it was blocking the prediction market platform from canceling trades in Michigan, contradicting a recent state court...Continue Reading

“US Treasury is committed to disrupting and degrading Iran’s illicit financial activities, including its abuse of digital assets,” US Treasury Secretary Scott Bessent said Tuesday. US Treasury Secretary Scott Bessent confirmed the US government ordered the freezing of more than $130 million in cryptocurrency held in wallets linked to Iran on Tuesday, as hostilities ramped...Continue Reading

Ethereum staking generated 98% of Bitmine’s revenue last quarter as the company’s pivot from Bitcoin mining gained momentum following its March validator launch. Bitmine Immersion Technologies recorded $45.7 million in revenue from Ether staking and validation last quarter, following the launch of its institutional-grade Ethereum staking platform in March.  Staking revenue accounted for 98% of...Continue Reading

Coinbase’s Rob Witoff said the company is leaning more on AI to help with execution, but still needs high-agency humans for judgment and strategy. Artificial intelligence now helps write more than 95% of Coinbase’s code, offering new insight into the crypto exchange’s AI strategy following its decision to cut 14% of its workforce earlier this...Continue Reading

Senate Majority Leader John Thune reportedly said the chamber will consider a vote on the crypto market structure bill before Aug. 10, though it’s unclear whether it has enough Democratic support to pass. The US Senate is expected to vote soon on a comprehensive bill to establish market structure rules for digital assets, backed by...Continue Reading

Backed by Dragonfly, FirstMark and Coinbase Ventures, the startup is expanding software that helps businesses integrate stablecoins into treasury and payment workflows. Stablecoin treasury platform Velocity has raised $38 million in a Series A funding round to expand infrastructure that helps enterprises and financial institutions use stablecoins for cross-border settlement and treasury operations. The funding...Continue Reading

The two governments issued recommendations on the treatment of digital assets as the US prepares to implement a 2025 law on payment stablecoins. The US Department of the Treasury and HM Treasury released a set of recommendations as part of the Transatlantic Taskforce for the Markets of the Future, which included stablecoin activity and tokenized...Continue Reading

The change in tax policy, expected to impact about 700,000 people in the UK, was related to the disposal of crypto in lending and liquidity pools. The UK’s tax authority announced that it planned to treat “certain disposals” related to cryptocurrency lending and liquidity pools as transactions that would effectively defer the country’s capital gains...Continue Reading