Coinbase Prediction Market AI Claims Norway Beat Brazil Before Match Even Started

Coinbase CEO Brian Armstrong has said the exchange is investigating an AI-generated prediction market alert after the platform mistakenly sent users a “breaking news” notification of a supposed Norway 3-2 win against Brazil in the ongoing FIFA World Cup before the match had even kicked off at the MetLife Stadium.  The flash news also showed that Manchester City forward Erling Haaland scored twice to send the Vikings to the quarterfinals.  What was interesting, though, was that Coinbases own prediction market page showed the match had been delayed due to poor weather conditions, but even more fascinating was that Norway did indeed end up beating Brazil when the game was finally played, even if with a different scoreline, and Haaland did find the back of the net two times.  Coinbase AI Bashed for Fake News, CEO Vows Probe  The discrepancy was first brought to light by Relay Digital managing partner Jay Drain Jr., who posted on X that the Coinbase AI was “hallucinating results for a World Cup game that hasn‘t even been played yet,” calling the notification it was sending to millions of the exchange’s users “factually incorrect” and terming it as “dangerous and irresponsible.”  Some time later, Coinbase chief Brian Armstrong responded to the

07-07

USDT Returns To Bitcoin: RGB And UTEXO Enable Private Lightning Settlements

Tether, the company behind USDT, is preparing to issue the stablecoin natively on Bitcoin through the RGB protocol version v0.11.1. Deployed by the UTEXO software lab, USDT is set to return to the chain where it first launched in 2014 via the Omni-Mastercoin Layer.  UTEXO, the company leading the commercial rollout, has positioned itself as the issuer and distributor of this Bitcoin-native USDT in partnership with Tether. “Finally, after eight years of development—if not more—we are the company that is launching USDT over Bitcoin with strong support from Tether,” said Viktor Ihnatiuk, UTEXO co-founder, in an exclusive interview with Bitcoin Magazine.  The RGB protocol combines its novel client-side validation with the Lightning network for instant, private settlements, while anchoring security to Bitcoins UTXO model. Users can expect to be able to handle USDT on native Bitcoin addresses as well as send and receive it over the Lightning network with compatible wallets.  The RGB protocol on Bitcoin also offers significant privacy features to USDT users as the asset benefits from Bitcoin‘s UTXO model, which standardizes fresh addresses for every transaction compared to the account-based address reused commonly in EVM blockchains like Tron, Ethereum or Solana. Address reuse is the first mistake of onchain privacy,

07-07انڈسٹری

42,197 ETH Acquired as Bitmine Builds $11.1B Crypto Treasury While Strategy Sells

Institutional crypto investors received two sharply different capital allocation signals Monday as Bitmine Immersion Technologies expanded its ethereum treasury while Strategy disclosed a rare bitcoin sale to fund preferred stock dividend payments.  Key TakeawaysStrategy sold 3,588 BTC on Jul. 5 to fund preferred stock dividends.Bitmine added 42,197 ETH, bringing holdings to 5.74 million ether.Tom Lee targets 5% of ethereum supply as institutional treasury models evolve.  Strategy Breaks With Its Bitcoin Accumulation Playbook  Earlier in the day, Strategy announced it sold 3,588 BTC for approximately $216 million, marking its largest bitcoin sale since resuming limited dispositions in recent years. According to co-founder Michael Saylor, the proceeds funded quarterly dividends tied to the companys STRF, STRE, STRK, and STRD preferred shares, along with the June monthly dividend for STRC.  Following the transaction, Strategy‘s bitcoin treasury declined to 843,775 BTC while the company reported approximately $2.55 billion in cash reserves. The sale represented a notable departure from the accumulation-first approach that has defined Strategy’s corporate identity for years.  Although Strategy remains the world‘s largest corporate bitcoin holder, the transaction demonstrated that preferred stock obligations now play a meaningful role in the company’s capital management decisions. A great deal of crypto supporters and detractors commented on the news. Bitcoin

07-06انڈسٹری

I am contemplating selling some of my bitcoin for gold, veteran trader Peter Brandt says

The logic is simple. BTC has underperformed gold, technology stocks and just about everything this year, which makes it look oversold and attractive relative to these assets.  But Brandts technical analysis suggests that the expected rotation may not happen and golds outperformance relative to BTC could continue.  The momentum shift  A closer look at the XAU/BTC chart helps understand Brandts bias for gold. XAU/BTC tracks the per-ounce price of gold in BTC terms.  For over a decade, XAU/BTC trended lower, illustrating the cryptocurrencys relentless outperformance and rally against the yellow metal. However, since at least 2019-2020, the pace of decline in the ratio has markedly slowed.  In technical analysis terms, this represents a loss of bearish momentum in the ratio. A flattening curve has replaced the steep, vertical drops that characterized the 2010s, a sign that the sellers of gold (relative to bitcoin) are finally exhausted.  And now, the tide seems to be turning in favor of the yellow metal.  XAU/BTC. (Peter Brandt, TradingView)  The “rounding” effect Brandt highlighted suggests the ratios fall has not just stopped; it is beginning to curl upward.  In other words, we could be entering a new macro cycle where gold begins to claw back the ground it lost to bitcoin over the last

07-06انڈسٹری

Banks have stopped asking if stablecoins belong in finance, now they're considering how

When Standard Chartered (STAN) said it would offer institutional clients direct access to minting and redeeming Circle Internets (CRCL) $USDC this week, it wasnt simply adding another digital asset service.  Rather, it was joining a growing list of global financial institutions building product offerings around stablecoins, the fiat-pegged tokens that were once retail investors refuge from crypto-market volatility and are increasingly becoming part of the plumbing of financial institutions worldwide. Chainalysis estimates stablecoin settlement volumes could reach a quadrillion dollars a year by 2030.  Standard Chartereds announcement came just days after BNY, the worlds largest custody bank, expanded its support for $USDC by allowing institutional clients to custody, mint and redeem the stablecoin using its infrastructure rather than building their own. Both Standard Chartered and BNY, which has $59 trillion in assets under management, are considered global systemically important banks by the Bank for International Settlements Basel Committee.  Their decisions reflect a pattern among some lenders toward using established stablecoin networks rather than creating their own. The moves also suggest the conversation inside banking has shifted. The question is no longer whether stablecoins belong in finance, but how banks fit into the networks forming around them.  “Banks arent asking whether theyll use stablecoins anymore.

07-05

Revolut to end support for Tethers USDT by August 31, customers say

Revolut is set to remove Tether ($USDT) from its crypto offering, according to screenshots of customer notifications shared by multiple crypto users on X.  The notice states that the UK-based fintech will complete the removal of the stablecoin on August 31, 2026, at 12:00 PM GMT. After that date, users will no longer be able to hold $USDT balances in their Revolut accounts.  Customers wishing to keep or liquidate their holdings are encouraged to act before the deadline by either selling their $USDT through Revolut or withdrawing it to an external crypto wallet.  Advertisement  According to the company, the decision follows a routine review of the assets offered on its platform and was made based on regulatory and risk considerations aimed at maintaining a secure and responsible trading experience.  As part of the phased rollout, Revolut said purchases of $USDT will be disabled from July 6, 2026, at 12:00 PM GMT, ahead of the tokens complete removal later in the summer.  Several major crypto platforms, such as Coinbase and Bitstamp, have delisted or begun phasing out $USDT for European users as they adapt to the EUs Markets in Crypto-Assets Regulation (MiCA) framework.  The move reflects efforts to comply with the blocs new rules governing stablecoins and crypto

07-05

Coinbase Showcases Progress Toward All-in-One Financial Platform

How Coinbase Is Building Beyond Crypto Trading  Crypto exchange Coinbase (Nasdaq: COIN) published on July 1 a monthly recap outlining progress toward making more assets tradable through a single platform, highlighting tokenized stocks, pre-IPO perpetual contracts, stock options, crypto options, and equity index perpetual-style futures.  The crypto firm shared on X:  “We spent the first half of the year building toward one idea: every asset, every market, one platform.”  The most closely watched element was tokenized stocks, described as 1:1-backed shares of U.S. companies. These are expected to include dividends, along with on-chain trading, holding, and redemption. The company said the instruments are not derivatives or IOUs, while noting they will not be available to U.S. persons.  Derivatives formed another major part of the strategy, with pre-IPO perps starting with SpaceX and later extending to OpenAI and Anthropic. The platform also highlighted stock options, crypto options through its Deribit integration and expiration-free U.S. perps. Together, those products suggest a push to combine traditional market exposure with crypto-native trading structures.  Can AI Turn a Trading App Into a Financial Operating System?  Coinbase also placed artificial intelligence (AI) inside its broader financial stack through Coinbase Advisor, an SEC-registered AI-powered investment adviser built into the app. The tool is designed

07-05

Moonbeam to pivot from Polkadot to Base, unveils AI agent framework

Polkadot-based interoperability protocol Moonbeam said it is pivoting to Ethereum layer 2 Base to launch an AI agent communication and settlement network, aimed at capturing a share of the emerging market.  “This is a pivot to the most exciting frontier in crypto: autonomous AI agents that find each other, negotiate work, and pay each other entirely on-chain, without a middleman,” Moonbeam said in a statement announcing the Moonbeam Protocol on Friday.  “We believe AI-native on-chain coordination represents a significant long-term opportunity. This transition allows us to focus resources around that direction,” Moonbeam added.  Moonbeam didnt provide a launch timeline for the Moonbeam Protocol.  Source: Moonbeam  Agentic development has seen considerable adoption in the crypto industry, with Coinbase CEO Brian Armstrong and Circle CEO Jeremy Allaire among the executives predicting that AI agents will become the dominant users of blockchain-based payments in the coming years.  Coinbases x402 payments protocol has been one of the biggest drivers behind that push, while layer 1 blockchains Aptos and Near have also rolled out infrastructure to support agent-driven onchain activity.  Adoption in blockchain-based payments space has struggled to take off, however, with data from Artemis showing that only $2 million in trading volume has been facilitated through the x402 protocol over the

07-05

Bitcoin ETFs log record eighth straight negative week despite large Thursday inflow

Quick TakeU.S. spot bitcoin ETFs shed about $527 million in the holiday-shortened week, their eighth straight negative week and the longest run on record.Thursday‘s $221.72 million inflow snapped a 10-session outflow streak, but BlackRock’s IBIT extended its own losing run to 11 days.Spot ether ETFs lost a net $13.7 million, an eighth straight weekly outflow that ties their record, though they closed the week with two days of inflows.Hyperliquid ETFs took in $4.3 million, their smallest week since launching in May, down from a record $111 million the week before.  U.S. spot bitcoin ETFs posted about $527 million in net outflows over the four trading days ending Thursday, July 2, their eighth consecutive negative week, per The Blocks analysis of SoSoValue data. That extends the longest weekly outflow run in the funds history; before this stretch began in mid-May, they had never strung together more than five net outflow weeks.  The record week arrived despite a strong finish. The funds pulled in $221.72 million on Thursday, their largest single-day inflows since May 5, ending a 10-session outflow streak that had drained about $2.71 billion, The Block reported Friday. Fidelitys FBTC led with $165.96 million, followed by ARK and 21Shares ARKB at $91.84

07-05انڈسٹری

Navigating Bitcoins short-term recovery effort and what to look out for

On Friday, the 3rd of July, Bitcoin [$BTC] managed to challenge the $63K-level but was unable to surpass it. The bounce from $58.5K at the start of the month appeared set to continue.  According to AMBCrypto, overleveraged short positions were caught off-guard by this move. For Bitcoin alone, $143 million in short liquidations have been recorded so far this month.  The heavy spot ETF outflows indicated that most weak hands may have left the market, and the recent move may be a bullish reversal rather than just a short squeeze.  Overhead $BTC supply caps any recovery effort  Source: $BTC/USDT on TradingView  The 4-hour chart revealed a bearish price structure for $BTC at press time.  A bounce to $65.2K may be possible though, according to the Fibonacci retracement levels.  Source: Glassnode  Zooming out, the Cost Basis Distribution chart highlighted the $64K and $67K levels as the immediate clusters where a sizeable amount of $BTC was acquired. The $72.3K and $77.2K-levels also had significant supply.  This suggested that in the scenario of a significant bounce, underwater holders who acquired Bitcoin at these price levels can look to exit the market at breakeven. Large waves of selling would impact short-term upward momentum.  Signs of major Bitcoin volatility ahead  Source: Glassnode  The long-term holder MVRV compares

07-05
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