Trump-backed crypto ethics rule puts DOJ in charge of enforcement, prohibits federal officials from issuing cryptocurrencies: sources

Quick TakeThe ethics language signed on by President Trump would put the DOJ as the chief enforcer of the provision, not state attorneys general, which could become a flashpoint since Democrats have argued for states to have some control.Ethics has been the final hurdle, after many, in getting sweeping crypto legislation, called the Clarity Act, passed into law.  Newly approved ethics language signed by President Donald Trump would prohibit federal officials from issuing cryptocurrencies, and would put the Justice Department in charge of enforcing it, not states, which could become a sore spot in trying to pass broader cryptocurrency legislation.  Talk of the ethics language came out during an industry call on Tuesday afternoon with White House top crypto adviser Patrick Witt.  The language would prohibit federal officials such as members of Congress, the president and vice president from issuing digital assets, three sources told The Block on Tuesday. The language also would put the Justice Department as the chief enforcer of the provision, not state attorneys general, which could become a flashpoint since Democrats have argued for states to have some control, two of the sources confirmed.  Crypto In Americas Eleanor Terrett and The Hills Julia Shapero also reported details on the ethics

07-22انڈسٹری

Gold price in Malaysia: Rates on July 22

Gold prices rose in Malaysia on Wednesday, according to data compiled by FXStreet.  The price for Gold stood at 543.61 Malaysian Ringgits (MYR) per gram, up compared with the MYR 536.92 it cost on Tuesday.  The price for Gold increased to MYR 6,340.43 per tola from MYR 6,262.55 per tola a day earlier.Unit measureGold Price in MYR1 Gram543.6110 Grams5,435.99Tola6,340.43Troy Ounce16,907.82  FXStreet calculates Gold prices in Malaysia by adapting international prices (USD/MYR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.

07-22انڈسٹری

BitMine gets 98% of revenue from staking as a decade-long contract complicates an early exit

BitMine generated $45.743 million from staking and validation in the three months ended May 31, 2026, equal to 98.3% of its $46.535 million in total revenue, according to a Form 10-Q filed July 14.  MAVAN, the companys Ethereum validator network, therefore produced nearly all revenue reported for the quarter. BitMine held 5,416,945 ETH valued at $10.856 billion at quarter-end. A June 1 update reported 4,718,677 ETH staked out of 5,416,901 ETH held, or about 87%, while the companys goal of acquiring 5% of Ethereums supply remains forward-looking.  The platforms operating dependencies include Ethereum Tower. BitMine owns 98% of MAVAN Holdings, while Tower holds the remaining 2% as a noncontrolling interest. Under a management services agreement effective March 24, Tower performs delegated strategic planning and day-to-day work across native staking, validator infrastructure and technology systems. BitMine subsidiary BMNR remains the formal manager and retains reserved powers.  Towers 2% interest is irrevocable and survives termination or expiration unless it is sold or assigned. Tower also receives monthly revenue participation from BitMines native staking operations, although its precise allocation is hidden in a redacted schedule. It has no entitlement to revenue from third-party staking operations.  The cost of changing operators  The agreement has a 10-year initial term, and

07-22انڈسٹری

Gold rallies to two-week high amid US-Iran diplomacy hopes

Gold (XAU/USD) rallies to an over two-week high, around the $4,140-$4,141 area, during the Asian session on Wednesday amid hopes that US-Iran diplomacy could ease energy prices and temper hawkish US Federal Reserve (Fed) expectations. In fact, top negotiators for Iran and the US signaled that they have not walked away from talks. US Secretary of State Marco Rubio said on Sunday that the US was still open to holding talks with Iran, while Irans Interior Minister Eskandar Momeni visited mediator Pakistan and asked Islamabad to continue its efforts. Moreover, reports suggest that mediators are working to bring the US and Iran back to the negotiating table.  Meanwhile, the US military said it completed the 11th night of strikes on Iran early Wednesday, targeting aircraft hangars and drone storage sites. Adding to this, President Donald Trump warned that the US strikes would be intensifying and hit any site where Iran attempts to rebuild its nuclear program. Iran, on the other hand, continued attacks across the Gulf, targeting US military assets in Bahrain, Kuwait and Jordan. Adding to this, Iran said that its forces struck two oil tankers as they attempted to transit through the Strait of Hormuz. Furthermore, Yemens Iran-aligned Houthis

07-22انڈسٹری

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

07-22انڈسٹری

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

07-22انڈسٹری

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

07-22انڈسٹری

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

07-22انڈسٹری

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

07-22انڈسٹری

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

07-22انڈسٹری
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