Crypto Industry News & Market Trends

Tesla to post first cash burn in two years as AI spending climbs

Automobile manufacturer Tesla is expected to report its first quarterly cash burn in over two years when it releases Q2 results after the close on Wednesday, a warning sign for investors who have bet that the companys spending on robots and self-driving cars will pay off.　　LSEG data puts the company‘s second-quarter free cash flow at minus $3.3 billion. This is a direct opposite to the positive $1.4 billion cash flow in the first quarter, and it lands just as Tesla’s core car business is finally recovering. Chief Financial Officer Vaibhav Taneja told investors in April that the company would run negative free cash flow for the rest of 2026.　　Tesla‘s capital budget has pushed past $25 billion for the year, up from about $20 billion three months earlier. Almost $20 billion of this capital budget is aimed at AI, covering Dojo compute, a data center expansion, the Cybercab, and the Optimus humanoid robot. Reports claim capital expenditure is expected to reach $6.7 billion in the quarter alone. A year ago, Tesla’s free cash flow was at about $5.6 billion.　　Automobile business not the issue　　Tesla delivered over 480,126 vehicles in the quarter, up about 25% from a year earlier and above the 397,000

07-21Industry

Bank of Korea CBDC pilot skipped independent security audit, report says

South Koreas first CBDC pilot has been conducted without any independent government security inspection, with participating banks relying mainly on their own pre-launch reviews before testing began.　　South Korean newspaper Maeil Business, citing data submitted by the Financial Supervisory Service (FSS) to People Power Party lawmaker Lee Heon-seung, reported that financial authorities did not carry out separate security inspections during the first phase of the Bank of Koreas central bank digital currency (CBDC) pilot, which ran from April to June last year.　　Instead, the only security work completed before the pilot started consisted of an IT security review and vulnerability assessment carried out in February. According to the report, those reviews relied partly on self-inspection teams from participating lenders Woori Bank and NongHyup Bank alongside the Financial Security Institute and cybersecurity firm SK Shields.　　The arrangement has raised questions because institutions taking part in the pilot also helped assess the security of the systems being tested. According to the documents reviewed by Maeil Business, no evidence was provided that an independent government inspection or external audit took place after the pilot concluded.　　Report raises questions over independent oversight　　The report said the Bank of Korea later addressed security concerns in its published report on the

07-21Industry

Palantir Stock Extends Recovery on Strong AI Software Demand

TLDRPalantir stock advanced as demand for artificial intelligence software supported strong revenue growth.First-quarter revenue increased 85% year over year to $1.63 billion.New contract value reached $2.41 billion, while remaining deal value rose 98% to $11.8 billion.United States commercial demand strengthened as more customers adopted Palantirs Artificial Intelligence Platform.Palantir will release second-quarter results on August 3, with revenue growth and updated guidance in focus.　　Palantir stock (NASDAQ: PLTR) advanced as demand for artificial intelligence software supported another period of strong revenue growth. The company will report second-quarter results on August 3 after posting 85% annual revenue growth during the first quarter. Recent share gains also followed renewed interest in software companies that use AI to improve customer operations.　　Palantir Technologies Inc., PLTR　　AI demand strengthens Palantirs commercial business　　Palantir stock has recovered from its June low as buyers returned to selected software companies. The rebound followed improved sentiment toward businesses that integrate AI tools into existing products and customer workflows. Palantir has benefited because its platforms connect company data with operational decisions across commercial and government environments.　　The company generated first-quarter revenue of $1.63 billion, an increase of 85% from one year earlier. United States commercial revenue rose sharply, while demand also strengthened across the company‘s

07-21Industry

Japanese Yen: Japans fiscal pivot and GPIF flows reshape rates – BNY

BNY‘s Geoff Yu highlights Japan’s new fiscal guidelines under Prime Minister Takaichi, which prioritize proactive spending and long-term investment over near-term consolidation. The plan targets large public-private outlays and abandons the single-year primary surplus goal, while GPIF and insurers increase domestic and super-long JGB exposure, influencing USD/JPY and Japanese Yen (JPY) rate dynamics.　　Proactive spending and JGB demand in focus　　“Japans Cabinet approved its first economic and fiscal policy guidelines under Prime Minister Sanae Takaichi, marking a clear shift toward aggressive, strategic fiscal spending with no explicit call for fiscal consolidation. The blueprint treats the next fiscal year from April as the first year of ”responsible and proactive“ spending and targets ¥370tn of combined public-private investment by fiscal 2040, with a focus on 17 areas, especially semiconductors.”　　“It also introduces a new budget allotment from fiscal 2027 and ends the traditional push for a single-year primary surplus, instead seeking to steadily lower the debt-to-GDP ratio over time. The government aims for real growth above 1% and nominal growth above 3% and plans to decide on a possible food tax cut by early August. It reiterated that monetary policy remains the Bank of Japans (BoJ) responsibility.”　　“Japanese insurers bought the most super-long JGBs in three

07-21Industry

Arcus Launches Tokenized Stocks on Robinhood Chain

A decentralized exchange (DEX) backed by Robinhood is expanding into tokenized stocks and derivatives as platforms compete to build onchain markets for traditional assets.　　Arcus, a DEX built by the team behind decentralized trading platform dYdX and backed by Robinhood Crypto, launched tokenized stocks and perpetual futures on Robinhood Chain on Tuesday, according to an announcement shared with Cointelegraph.　　The company previously launched spot markets when Robinhood Chain went live on July 1. Arcus offers more than 95 stock tokens, perpetual markets and crypto assets through a self-custodial trading account, with Paxos-issued stablecoin USDG serving as its primary collateral and settlement asset.　　The launch comes as crypto companies and financial platforms increasingly compete to build infrastructure for tokenized real-world assets (RWAs), while regulatory questions around access and product structure remain a key challenge for the sector.　　Related: Bernstein raises Robinhood price target, cites tokenization and prediction markets　　Self-custody shapes approach to onchain trading　　Arcuss launch includes tokenized versions of stock in major US companies such as Nvidia, Tesla, Apple, Microsoft, Meta, Google and Amazon, as well as perpetual markets tied to equities, exchange-traded funds, commodities, indexes and crypto assets.　　The platform uses a self-custodial model, allowing users to retain control of their assets rather than deposit them

07-21Industry

SpaceX Stock Jumps 6% to Snap Seven-Day Losing Streak, but Remains 43% Below Record High

Key highlights:SPCX rose approximately 6% to $127 on Tuesday after closing below $120 on MondayThe rebound ended a seven-day losing streak, but the stock remains sharply lower than its post-IPO peakInvestors are watching a Starship test flight scheduled for July 23 and SpaceXs first public earnings report　　SpaceX stock rebounded on Tuesday, July 21, snapping a seven-session losing streak that had pushed the shares to their lowest level since the company went public.　　SPCX was trading at approximately $127 at the time of writing, up 6% on the day. The recovery followed a Monday close of $119.85, which marked a new record low for the publicly traded shares.　　Tuesday‘s move provides some relief for shareholders, but it has not erased the stock’s substantial recent losses. SPCX remains approximately 43% below its $225.64 all-time high and about 6% below its initial public offering price.　　SpaceX stock rebounds after seven consecutive declines　　Before Tuesdays recovery, the Elon Musk-linked stock had declined for seven consecutive trading sessions and traded lower in 10 of the previous 11 sessions.　　SpaceX made headlines in June when it completed its IPO. Shares were priced at $135 and opened at $150 during their first trading session before climbing as high as $225.64.　　The stock subsequently

07-21Industry

MoneyGram‘s CEO says blockchain works best when customers don’t know its there

In attempting to modernize and better meet its customers‘ needs, MoneyGram has partnered with the Stellar network, which has underpinned many of the company’s blockchain initiatives over the past five years. But the company has also started exploring other ecosystems: while Stellar remains a core partner, MoneyGram has also become a validator on Solana and Tempo. For MoneyGram, the immediate payoff isn‘t speculative crypto activity, it’s replacing legacy financial rails.　　Todays cross-border settlement still largely depends on banking hours and weekday processing. Blockchain-based infrastructure, Soohoo argued, enables real-time settlement around the clock, reducing operational costs while improving the customer experience.　　“We believe if we do it right, we can achieve all three,” he said, referring to helping customers save time, effort and money. Instant settlement also allows MoneyGram to lower back-office costs, savings the company hopes to eventually pass on through lower prices. Currently, MoneyGrams fees start at $1.89 and vary depending on what country you send them to.　　Soohoo doesn‘t believe consumers need to understand the technology powering those improvements. He compared blockchain to the processors inside Apple’s iPhone.　　“I can‘t tell you what processor is inside my iPhone,” he said. “I just know it’s faster.” In the same way, he argued, remittance

07-21Industry

515 Million NIGHT Exploit Update: 7 Major Exchanges Lock Down Stolen Funds for Cardanos Privacy Network

The Midnight Foundation has released an official update on the response to the attack on Wanchains Cardano-BNB cross-chain bridge. The developers quickly brought partner exchanges into the investigation: Binance, OKX, Kraken, KuCoin, Bybit, Gate, and MEXC introduced emergency measures to completely block the movement of the stolen funds.　　The coordinated response from the platforms prevented the liquidation of 515 million NIGHT tokens, worth approximately $9 million, stolen from the treasury of a third-party smart contract.　　Following the incident, NIGHT temporarily plunged by more than 30% on decentralized exchanges, reaching an all-time low of $0.016.　　Bitcoin Quantum Discount Deepens to 30%; XRP Exits ‘Fear Buy’ Zone on MVRV Chart; New Shiba Inu (SHIB) Whale Flees Coinbase With $2.76 Million Fortune – Morning Crypto Report　　Ripple Veteran on Selling XRP: ‘I Wish I Hadn’t　　How exchanges trapped a hacker after a $9 million Cardano bridge code exploit　　The main purpose of the Midnight Foundation‘s statement was to confirm that the stolen millions had been isolated within centralized systems. At the foundation’s request, the exchanges immediately blacklisted the attackers wallets, temporarily froze associated accounts, and suspended NIGHT deposits and withdrawals.　　This prevented the hacker from laundering most of the stolen funds. However, the attacker managed to sell approximately 290 million

07-21Industry

Wanchain Bridge Breach Sends Midnight Token to All-Time Low

Midnight (NIGHT) token slid to a record low of $0.01524 after an attacker drained roughly 515 million tokens from Wanchains Cardano (ADA) bridge.　　The stolen tokens reportedly represented about 97% of the bridges NIGHT reserves. Wanchain has since suspended the bridge while it investigates the breach.　　Inside the Wanchain Bridge Drain　　According to analyst Paul, the attacker emptied Wanchains Cardano-side lock address between 14:46 and 14:55 UTC. That address holds the custody backing Wanchain-wrapped NIGHT on BNB Chain.　　Only NIGHT left the contract. Other bridged assets stayed untouched, according to the on-chain analyst. Reserves fell from about 527 million NIGHT to near 12 million. The move stripped roughly 97% of the bridges holdings.　　“This is a bridge-layer incident, token supply is unchanged. The wrapped NIGHT on BNB is now largely unbacked though,” the post read.　　Follow us on X to get the latest news as it happens　　Token Dumped as Midnight Distances Itself　　The attacker routed funds through newly created wallets and sold them on Cardano-based exchanges. About 290 million NIGHT hit decentralized exchanges (DEXs), pushing prices down.　　The impact was clearly visible. At press time, NIGHT traded around $0.019, down about 27% on the day.　　Midnight (NIGHT) Token Price Performance. Source: BeInCrypto Markets　　Meanwhile, the Midnight Foundation said the incident

07-21Industry

Binance Revamps VIP Program With Lower Wallet Thresholds And OTC Integration

Binance is bending its own rules for VIPs. The exchange quietly lowered the wallet asset balance needed to qualify for VIP 3 status and introduced over-the-counter spot trading volume as part of its eligibility criteria, according to the official announcement. The tweaks mark the second time in recent months the firm has recalibrated its top-tier client program, signaling that retention and recruitment of whales is now top of mind.　　VIP 3 sits at a sweet spot in Binances tiered structure—it unlocks meaningful fee discounts and dedicated account management without requiring the extreme volumes of VIP 8 or 9. By lowering the bar, Binance effectively opens the program to a larger cohort of professional traders and mid-sized funds that might otherwise drift toward competing platforms like OKX or Bybit, where fee structures and institutional perks have been narrowing the gap.　　Why the timing matters　　The move lands as institutional capital pours into crypto markets at an accelerating clip, not just through spot but also via tokenized real-world assets. Last week, on-chain RWAs crossed $20 billion for the first time, and Bullish acquired Equiniti for $4.2 billion, underscoring the scale of capital now engaging with crypto infrastructure. Exchanges that can capture this flow through tailored

07-21Industry

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