Crypto Industry News & Market Trends

Elon Musk‘s Terafab Will Be Earth’s Most Valuable Building, 50x the Size of the Pentagon

Elon Musk announced Terafab, a Texas chip factory that Tesla and SpaceX will build together.The plant will manufacture semiconductors for artificial intelligence and robotics. 　　Musk said Terafab Texas would become the most valuable building on Earth by far.　　Sponsored　　Sponsored　　Tesla and SpaceX plan to invest $16.8 billion to start construction. Total spending could reach $119 billion across multiple phases, according to regulatory filings reported this week.　　Terafab Texas Aims to Be Earths Most Valuable Building　　Musk made the claim in a post on X, where he also praised the factorys planned design.　　Terafab Texas will be the largest and most valuable building on Earth by far.　　And it will be stunningly beautiful. pic.twitter.com/4NweOqTL7y　　— Elon Musk (@elonmusk) August 6, 2026　　Analyst estimates suggest the facility could generate more than one trillion watts of AI computing capacity each year. It will rely on two-nanometer chip technology, among the most advanced processes available today.　　Social media users quickly compared Terafab‘s footprint to some of the largest structures on the planet. Side-by-side graphics placed the factory next to Tesla’s own Austin gigafactory, government buildings, corporate campuses, and shopping centers built for millions of annual visitors. One such comparison gathered millions of views within a day.　　Terafab will be 50 times the size of

08-07Industry

CleanSpark misses Wall Street revenue estimates as shares sink

Nasdaq-listed Bitcoin mining company CleanSpark reported $138 million in revenue for the third quarter of fiscal 2026.　　The $138 million represented a 30.5% year-over-year decrease from $198 million, according to its quarterly results published on Thursday.　　CleanSpark also reported a net loss of $239 million, or $0.89 per basic share, for the three months ended on June 30, compared with $257 million in net income, or $0.90 per share, for the same period last year.　　The revenue narrowly missed analysts consensus estimate of $142.2 million, according to analyst estimates compiled by Yahoo Finance.　　CleanSparks shares fell 5.5% on Thursday, but staged a 3% pre-market recovery on Friday to trade above $13.10, Yahoo Finance data showed.　　CleanSpark is among the companies that have expanded beyond their core Bitcoin (BTC) mining operations into AI and high-performance computing infrastructure.　　On July 14, CleanSpark signed a 20-year data center lease with an undisclosed investment-grade global technology company for a 175-megawatt data center at its Sandersville, Georgia, campus. The company estimated the deal would generate $6.6 billion in contracted revenue over the initial term.

08-07Industry

CleanSpark reports $239M quarterly loss as revenue falls 30.5%, misses estimates

CleanSpark has reported a $239 million quarterly loss as revenue fell 30.5% year over year, while its latest AI data center lease has added a long-term revenue stream outside Bitcoin mining.　　SummaryCleanSpark reported a $239 million quarterly net loss as revenue fell 30.5% year over year.Quarterly revenue came in at $138 million, missing analysts estimates compiled by Yahoo Finance.The company signed a 20 year lease expected to generate $6.6 billion from its Georgia AI data center.CleanSpark continued expanding its AI infrastructure while maintaining its Bitcoin mining operations.　　According to CleanSparks fiscal third-quarter results published on Thursday, the Nasdaq-listed Bitcoin mining company generated $138 million in revenue for the three months ended June 30, down 30.5% from $198 million in the same quarter last year. The figure also came in below Wall Street expectations, with Yahoo Finance analyst estimates placing the consensus forecast at $142.2 million.　　For the quarter, the company posted a net loss of $239 million, or $0.89 per basic share, reversing from net income of $257 million, or $0.90 per share, recorded a year earlier.　　The earnings release arrived after the company had already reported another loss-making quarter in May. For the fiscal second quarter ended March 31, CleanSpark reported a net

08-07Industry

MyTrade Founder Fined $10K Over Bots That Wash Traded 60 Cryptocurrencies

In briefMyTrade founder Liu Zhou has been fined $10,000 over running a crypto wash trading service.Zhou pleaded guilty in October 2024 alongside 17 co-conspirators charged in the same operation.MyTrades dashboard let clients order a daily volume of fake trades, executed by bots.　　The founder of crypto market maker MyTrade has avoided prison and been fined $10,000 for running a wash trading service that generated millions of dollars in fake daily volume across roughly 60 cryptocurrencies.　　Liu Zhou, 41, a Canadian citizen and Chinese national, was sentenced in Boston federal court on Thursday by U.S. District Judge Angel Kelley, who imposed no custodial term, Law360 reported. He pleaded guilty to conspiracy to commit market manipulation and wire fraud after being charged in October 2024 alongside 17 other individuals and entities.　　MyTrade sold the service openly. Clients logged into a dashboard on the MyTrade MM website and specified how many wash trades they wanted executed each day on named exchanges, a product the firm called “Volume Support.” Bots did the rest, buying and selling the same asset repeatedly to inflate apparent volume. As of October 2024 the service had dozens of clients.　　Zhou was candid with people he believed were prospective customers. MyTrade MM “does self-trades

08-07Industry

'Shiba Inu Isn't Dead': Community Veteran Calls Out Outdated SHIB Link

Long-time SHIB community member and Shiba Eternity advisor, Mazrael, has raised concerns about a Shiba Inu legacy website link that creates the false impression that the SHIB project is dead.　　The Shiba Inu legacy domain in question is shibatoken.com, which was registered 3 days after SHIB launched in August 2020. For years, this link for the Shiba Inu mainnet redirected to the shib.io website.　　Mazrael stated that this was why partners, listings, and directories pointed to it, as it redirected to the SHIB ecosystem. This worked exactly as intended until April 2026, when the redirect was severed.　　Based on domain records, the Shibatoken page was last updated on April 17, 2026. It was flagged and now has a takedown notice.　　Mazrael highlighted the implications of this: every partner page, every listing, every wallet and explorer entry pointing at the Shiba Inu legacy domain, which was the correct thing to do then as it redirected to the SHIB ecosystem, was silently converted into a dead end. “One switch. Thousands of broken doors,” Mazrael stated.　　Financial Markets News　　Mazrael cited Zama, a Shiba Inu partner whose page lists the Shibatoken link as that for the SHIB mainnet, which today serves nothing but a takedown notice. “Anyone evaluating Shib

08-07Industry

Stripe owned Bridge joins EU MiCA register as 42nd authorized stablecoin issuer

Bridge has joined the EUs MiCA register, increasing the number of authorized electronic money token issuers to 42 after securing regulatory approval in Luxembourg.　　SummaryBridge has joined the European Unions MiCA register, raising the number of authorized electronic money token issuers to 42.ESMA has also added three German crypto asset service providers, bringing the total number of authorized CASPs across the bloc to 324.The Luxembourg approval allows the Stripe owned company to offer regulated stablecoin and euro payment services throughout all 27 EU member states.Bridges registration comes as Stripe continues expanding its stablecoin payments business following its acquisition of the company.　　According to the latest update published by the European Securities and Markets Authority (ESMA) on Wednesday, Bridge Building, the Luxembourg-based entity behind Stripe-owned stablecoin infrastructure company Bridge, has been added to the European Unions Markets in Crypto-Assets (MiCA) register as an authorized electronic money token (EMT) issuer.　　The addition raises the number of MiCA-authorized EMT issuers in the European Union to 42. ESMAs latest register update also added three new crypto-asset service providers (CASPs) from Germany, bringing the total number of authorized CASPs across the bloc to 324.　　Bridge‘s inclusion follows regulatory approvals it announced on July 2 after obtaining both a MiCA

08-07Industry

OKX schedules delisting of GODS, PRCL and DUCK spot trading pairs

OKX has scheduled the removal of six GODS, PRCL and DUCK spot trading pairs while suspending deposits for the affected tokens from Aug. 7 and setting Nov. 7 as the withdrawal deadline.　　According to an OKX announcement, the exchange will remove three margin-settled spot pairs GODS/USD, PRCL/USD, and DUCK/USD, between 16:00 and 18:00 UTC on Aug. 14. Three additional spot pairs quoted in USDT and EUR will follow three days later, with GODS/USDT, PRCL/USDT and DUCK/USDT scheduled for delisting during the same two-hour window on Aug. 17.　　The exchange has also introduced a phased timeline for the affected assets. Deposits for GODS, PRCL and DUCK stopped at 16:00 UTC on Aug. 7, while withdrawals for the three tokens will remain available until 16:00 UTC on Nov. 7.　　OKX has split the trading pair removals across two dates　　Rather than removing all markets at once, the exchange has divided the delisting into two stages.　　On Aug. 14, users will lose access to GODS/USD, PRCL/USD and DUCK/USD trading pairs. Three days later, OKX will remove GODS/USDT, PRCL/USDT and PRCL/EUR alongside DUCK/USDT, completing the process for all six spot markets listed in the notice.　　At the same time, the exchange has already halted deposits for the related assets, preventing

08-07Industry

Bonk Inu (BONK) Delisted: Upbit Announces Unexpected Measures

After weeks of review, South Korean cryptocurrency exchange Upbit has declared that it will delist Bonk Inu (BONK), citing unresolved security and compliance issues. The ruling is another instance of Korean exchanges adopting a more stringent approach to investor protection, and it comes after BONK was designated as a trading caution asset in early July 2026.　　BONK Trading support isnt supported　　Upbit claims that trading support for BONK will expire on September 7, 2026, at 15:00 KST, at which point all pending buy and sell orders will be automatically canceled. Until October 7, 2026, users will still have 30 days to withdraw their BONK holdings. The exchange clarified that neither market performance nor trading volume had any bearing on its decision.　　BONK/USDT Chart by TradingView　　Rather, it highlighted issues found during its examination in accordance with South Koreas guidelines for virtual asset listing. According to Upbit, it discovered unresolved problems with security incidents involving wallets or the underlying blockchain infrastructure, pointing out that the causes had not been adequately identified or fixed.　　Digital Currencies　　The projects handling of material disclosures was also criticized by the exchange, which claimed that crucial information was not conveyed in a timely and suitable manner. In July, Upbit put BONK under

08-07Industry

Coinbase loses Michigan bid over sports prediction markets

Coinbase Financial Markets lost its bid for preliminary relief in Michigan on Aug. 6 after U.S. District Judge Shalina Kumar refused to block state officials from enforcing sports betting laws against the companys event contracts.　　The order leaves Coinbase without the injunction it sought as its challenge continues.　　Coinbase sued Michigan Attorney General Dana Nessel, arguing that event contracts offered through federally regulated prediction markets fall under the Commodity Exchange Act and the Commodity Futures Trading Commissions exclusive jurisdiction. Coinbase wants Michigan customers to access contracts supplied through Kalshi.　　Judge rejects Coinbases preemption case　　Kumar concluded that Coinbase had not shown a likelihood of success on its federal preemption claims, a requirement for preliminary relief. The judge rejected Coinbases argument that sports event contracts necessarily qualify as swaps under the Commodity Exchange Act and therefore sit beyond Michigans gambling authority.　　The court also rejected Coinbase‘s claim that compliance with federal derivatives law and Michigan’s Lawful Sports Betting Act would be impossible. Kumar wrote that Coinbases assertions were “applesauce,” adding that higher costs or operational difficulty do not establish legal impossibility. The ruling addresses preliminary relief rather than a final judgment.　　New: District court judge denies Coinbase motion for a preliminary injunction against Michigan.　　One of my favorite

08-07Industry

XRP Ledger 3.3.0 brings privacy and batch upgrades

XRP Ledger developers released xrpld version 3.3.0 on Aug. 6, moving several protocol changes closer to possible mainnet activation.　　The official GitHub release confirms work on ConfidentialTransfer, BatchV1_1, Sponsor and DynamicMPT, alongside fixes and other protocol changes. The software release itself does not activate those features on the network.　　The distinction matters because some reports describe six upgrades as already live. Under the XRP Ledger amendment process, new protocol features require validator support before activation. An amendment must maintain more than 80% support from trusted validators for two continuous weeks before taking effect.　　XRP Ledger 3.3.0 upgradesXRP Ledger 3.3.0 adds privacy and atomic transaction tools　　ConfidentialTransfer is designed to add privacy for Multi-Purpose Tokens, or MPTs. XRPL documentation says the amendment uses cryptography to shield individual balances and transfer amounts while preserving mechanisms that let authorized parties, including issuers or auditors, verify information needed for compliance.　　The feature remains subject to amendment activation, so private MPT transfers should not yet be described as active on XRPL mainnet.　　BatchV1_1 is another major component. The XLS-56 standard allows multiple transactions to be packaged and processed together, including transactions involving different accounts. Atomic execution can help settlement workflows where several actions must succeed together rather than leaving one leg

08-07Industry

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