Crypto Industry News & Market Trends

Prediction Markets and Casinos Are Both Betting Big on Washington

Kalshi spent $990,000 on federal lobbying in the first half of 2026, nearly matching its total for all of last year, as it races to counter the casino industry on Capitol Hill.　　The prediction market operator and its gambling-sector rivals are both sharply raising spending. Kalshi‘s direct lobbying alone nearly matches the American Gaming Association’s, signaling how hard each side is working to win over lawmakers.　　The Prediction Market vs Gambling Lobbying Fight　　Kalshis $990,000 closes in on the $1 million it spent across all of 2025. Including outside firms, its total nears $1.8 million, a record six-month figure disclosed in federal filings this week.　　The company deploys seven lobbying firms, including its in-house team. It has hired former Biden and Obama administration officials to widen its reach. Kalshi also counts Donald Trump Jr. as a paid advisor.　　Polymarket keeps a lighter presence. A single firm spent $180,000 on its behalf, pacing toward the $360,000 spent last year.　　Kalshi and the American Gaming Associations Lobbying Efforts. Source: CNBC　　The gambling side is spending more, too. The American Gaming Association has committed $1.39 million in 2026, up 30% from the same period last year. The Cherokee Nation, which holds gaming interests, has spent $600,000.　　Patrick McHenry, a former Republican

07-22Industry

Circle Gateway Hits $410M USDC Transfer Milestone

Circle Gateway processed $410M in crosschain USDC transfers, boosting liquidity efficiency and faster settlements across blockchains.　　Circle has shared fresh data showing growing adoption of its Gateway infrastructure for crosschain USDC payments.　　The company said Relay processed about $410 million in crosschain user volume through Gateway between March and June 2026.　　The update points to rising demand for faster liquidity movement across multiple blockchain networks.　　Circle and Relay also outlined how the system reduces the amount of USDC that must remain parked across different chains.　　Circle Gateway Powers $410M in Relay Crosschain USDC Volume　　Circle revealed the figures in a new blog post published on July 21. The company explained that Relay now uses Gateway to manage USDC liquidity from a unified balance instead of maintaining separate reserves on every supported blockchain.　　Relay provides crosschain payment infrastructure for wallets, exchanges, payment processors, neobanks, and commerce platforms.　　According to Circle, the network has processed more than $40 billion in crosschain volume since launching in 2024.　　The company also reported that Relay has handled 186 million transactions across 85 blockchains while maintaining a 99.9% transaction success rate.　　Circle said Gateway currently supports 12 blockchain networks, including Ethereum, Solana, Base, Arbitrum, Avalanche, Polygon PoS, Optimism, HyperEVM, Sei, Sonic, Unichain, and World Chain.　　Circle Developer

07-22Industry

Winklevoss twins gave Trumps super PAC $10 million 23 days after CFTC joined Gemini relief bid

Newly filed federal election records show Cameron and Tyler Winklevoss gave $10.018 million in Bitcoin to MAGA Inc., the super PAC aligned with President Donald Trump, on June 19, 2026.　　The gifts came 23 days after the Commodity Futures Trading Commission announced that it had joined the brothers crypto exchange, Gemini, in seeking relief from a 2025 judgment.　　The FEC filing shows that the committee sold the donated Bitcoin through Gemini. The donation came 23 days after the CFTC joined Geminis effort to undo parts of its 2025 judgment, although the filing offers no evidence linking the two events.　　The dates establish a sequence, but the records provide no clear evidence that the donations caused or influenced the CFTCs action, that the agency coordinated with the donors, or that a quid pro quo occurred.　　Cameron‘s records total $5,006,604.47 and Tyler’s total $5,011,860.44. Four June 19 rows naming Gemini add up to exactly the same $10,018,464.91 and say the Bitcoin was sold through the exchange to unknown purchasers.　　FEC rules require a political committee selling donated Bitcoin to name the exchange. The buyer can remain anonymous and does not count as a contributor.　　Why the CFTC changed course　　The CFTC said its review concluded that the complaint against

07-22Industry

Pavel Durov brings fee-free Gram wallet to 1 billion Telegram users

Telegram has announced plans to introduce a native, non-custodial Gram wallet to more than 1 billion monthly users this summer, enabling instant cryptocurrency transfers without fees.　　Pavel Durov, writing on Telegram on Wednesday, described the planned integration as the “largest rollout of a non-custodial crypto wallet in human history.” The Telegram founder did not provide a fixed release date, list supported assets, or explain how the app would cover network costs while offering fee-free transfers.　　Source: Telegram　　Unlike a custodial service, the proposed wallet would let users control their crypto rather than leaving their assets with Telegram or another company. Durovs announcement places the feature directly inside the messaging app, removing the need for users to download a separate wallet before sending funds to their contacts.　　Telegram reported more than 1 billion monthly active users in 2025, giving the Gram wallet access to an audience few standalone crypto products can match. While Durov did not publish an adoption target, the companys user count means even a small uptake could introduce millions of people to self-custody and peer-to-peer crypto transfers.　　Exact launch conditions remain unclear because Telegram has not explained whether the wallet will become available worldwide at once or arrive through a phased release. The

07-22Industry

BIS exposes how stablecoins are slipping past capital controls

BIS researchers have found that dollar-backed stablecoin inflows across more than 130 economies remain largely unaffected by capital controls, exposing a growing challenge for emerging-market governments.　　The BIS study compared stablecoin inflows with foreign-currency bank deposits to examine how households and businesses gain exposure to the U.S. dollar during periods of financial stress. Both forms of dollarization increased alongside sovereign crises, banking problems and strong exchange-rate pass-through, but only traditional deposits responded clearly to restrictions on foreign currency and capital flows.　　Unlike bank deposits, dollar-pegged tokens can move through crypto exchanges, peer-to-peer markets and self-hosted wallets without passing through domestic banks. According to the researchers, this difference likely exists because “stablecoins are partly circulating outside the regulatory perimeter.”　　The results indicate that restrictions designed for bank accounts may have limited influence over digital tokens. While governments can require approval for foreign-currency deposits or restrict transfers through financial institutions, users can still receive, hold, and send stablecoins through blockchain networks.　　Researchers also found that deposit and stablecoin dollarization tend to persist once established. Their analysis showed little evidence that users simply replace foreign-currency deposits with stablecoins, suggesting the two channels can expand at the same time instead of competing for the same demand.　　Capital controls are

07-22Industry

Hut 8 Stock Surges Up to 200% in 2026 as Bitcoin Mining Unit Struggles

Hut 8 Corp. (HUT) shares have swung between $44 and $133 in 2026, a peak-to-trough gain of about 200%, according to TradingView data.　　The stock now trades near $108, up about 128% for the year, after Hut 8 signed a $9.8 billion, 15-year lease with an unnamed technology hyperscaler.　　The AI Pivot　　Speaking to CNBC, CEO Asher Genoot said the was proof that Hut 8s pivot from Bitcoin mining to artificial intelligence (AI) infrastructure is paying off for shareholders.　　The new lease adds 704 megawatts of capacity to Beacon Point, Hut 8s AI data center campus in Texas, and carries an implied $653 million in annual revenue. Genoot said Hut 8 had zero contracted AI revenue about a year ago.　　He now counts roughly $27 billion in contracted AI revenue and about $1.75 billion in annualized earnings before interest, taxes, depreciation, and amortization (EBITDA).　　What Happened to the Bitcoin Mining Business　　Hut 8 was firstly known as a Bitcoin mining business, but the company technically no longer runs Bitcoin mining directly. In March 2025, it moved the business into American Bitcoin Corp. (ABTC), a separately traded subsidiary that Hut 8 majority owns and that Eric Trump and Donald Trump Jr. partly back.　　Hut 8 has seen much more

07-22Industry

UK CPI data expected to show less need for BoE rate hikes

The UK Office for National Statistics (ONS) will release the June Consumer Price Index (CPI) figures on Wednesday at 06:00 GMT, a print that will matter for markets. Consensus expectations point to inflation pressures still above the Bank of Englands (BoE) target, although losing further momentum.　　UK consumer inflation remains one of the most important inputs for the BoE and typically carries real weight for the British Pound (GBP). Following the latest cautious hold by the BoE on June 18, investors now favour a steady hand by the ‘Old Lady’ at its meeting on July 30.　　What to expect from the next UK inflation report？　　Headline UK CPI is expected to clock 2.7% in the year to June, a tad lower than the May reading. On a monthly basis, inflation is seen gaining 0.1%, adding to the 0.2% increase recorded the previous month.　　Core inflation, which strips out the more volatile food and energy components and is therefore more closely watched by the BoE, is forecast at 2.5% on an annual basis, down a tenth of percent from May.　　How will the UK CPI data affect GBP/USD？　　The BoE met expectations and kept the bank rate unchanged at 3.75% on June 18. However, the 7–2 vote

07-22Industry

Kospi Jumps 5% as Asian Chipmakers Rebound From AI Selloff

South Korea‘s Kospi surged over 5% to a high of 7,164 on Wednesday’s early trading, extending its rebound from an artificial intelligence stock selloff.Asian chipmakers led the gains for a second straight session.　　Japan‘s Nikkei 225 added near 2% to 67,524.22, also in early trading. The rally builds on Tuesday’s rebound across Asian markets.　　Samsung, SK Hynix Lead the Recovery　　The gains extend July 21s rebound, when the Kospi jumped 3.6% and the Nikkei rose 3% after a number of days trending downwards. Chipmakers are looking to pull the Kospi back from a bear market slide that AI valuation fears caused earlier this month.　　Samsung Electronics surged reversed its downward trend on Tuesday while SK Hynix, the memory chipmaker, gained also started gaining, recovering from its sharp sidecar plunge earlier this month.　　The Kospi has managed to stop the fall in its price seen over the last few days. Image Source: Trading View　　The Kospi is still down more than 20% over the past month, even after gaining over 50% year-to-date. Investors had locked in profits on AI bubble concerns.　　Wall Street Also Jumps at Semiconductors　　Wall Street added its own momentum on Tuesday. The Nasdaq 100 posted its best session in three weeks, and a key semiconductor

07-22Industry

Google Is Building an AI Chip Just for Gemini—And Investors Already Moved On It

In briefGoogle is reportedly developing a server chip called Frozen v2 that hardwires part of Geminis architecture into silicon.Based on reports, engineers project six to ten times the efficiency of current TPUs and a 2028 deployment target.Alphabet shares climbed roughly 3% during Mondays trading session after the news broke, ahead of Q2 2026 earnings due Wednesday, July 22.　　Google is building a chip designed for one job: running Gemini faster and cheaper.　　The chip, codenamed Frozen v2, was reported by The Information on Monday and gives Google a potential answer to a problem it cant spend its way out of fast enough: It is running out of capacity to serve the AI demand it has already generated.　　In March, Google told Meta it couldnt fill the volume of Gemini compute Meta wanted to purchase. Meta had to instruct employees to ration their AI usage. Google—spending up to $190 billion on AI infrastructure this year—was turning away customers because it didnt have enough servers to serve them.　　So now its building a chip designed only for its AI models.　　There‘s not much information about this new chip, but by naming convention it’s not another upgrade to Googles Tensor Processing Units (TPUs)—the custom chips Google has been

07-22Industry

The $1.2 billion options wall came down, and this time Bitcoin actually moved

For most of the month, traders had a pretty good explanation for Bitcoins refusal to budge. A dense cluster of options contracts, they argued, was holding the price in a cage between $60,000 and $65,000, with dealers buying dips and selling rallies to stay hedged.　　Fridays expiry cleared roughly $1.2 billion of that exposure, and the aftermath was supposed to settle the question. If the options were pinning Bitcoin near $63,000, price should start drifting once they vanished.　　And it did. Bitcoin was trading around $66,200 on Tuesday, up about 2.9% on the day and roughly 5% on the week, pressing against a $65,700 resistance-turned-support level it hasnt held all month. You could call this vindication: remove the wall of options suffocating price, and the market breathes.　　But the more accurate take is that the expiry was never doing the heavy lifting, and the fuel behind this weeks move actually came from somewhere else.　　The options wall came down, and the demand walked in　　About 19,000 Bitcoin options contracts settled on July 17 with a notional value near $1.2 billion, a put-call ratio of 0.9 and a maximum-pain level at $63,000. Ethereum added 123,000 contracts worth roughly $230 million, carrying a much heavier 1.61 put-call

07-22Industry

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