Stablecoin bank Augustus raises $180 million to build a clearing bank for the AI era

Augustus, a startup building a federally chartered clearing bank for fintechs and financial institutions, said it raised $180 million to expand its dollar payment infrastructure as stablecoins reshape global finance.  The fundraising valued the company at $1 billion, with Tiger Global leading the round and investors such as Hummingbird, QED and the founders of Nubank, Ramp, Circle and Deel participating, the company said in a Tuesday press release.  The investment comes as banks, fintechs and crypto firms are racing to modernize the infrastructure behind cross-border payments. While much of the attention has centered on stablecoin issuers, Augustus is targeting a less visible but crucial part of the financial system: correspondent banking.  “We think distribution breaks at the clearing bank layer,” CEO Ferdinand Dabitz told CoinDesk in an interview. Legacy clearing systems are “slow, unavailable, take two days to settle and close on the weekends,” he argued.  Taking on correspondent banking  The firm is building what Dabitz described as an “AI-native” clearing bank designed around stablecoins, programmable money and always-on settlement.  Augustus doesnt plan to issue its own stablecoin, Dabitz said. Instead, it wants to provide the banking infrastructure that lets financial institutions move money across traditional payment systems and blockchain networks.

07-21انڈسٹری

Galaxy Launches Bitcoin Quantum Defense Fund

Galaxy has launched a new initiative aimed at preparing Bitcoin for the potential threat posed by quantum computing.  The firm, which is spearheaded by cryptocurrency bull Mike Novogratz, has $5 million in grants to fund those developers who are specifically focused on post-quantum security solutions.  The Galaxy Bitcoin Quantum Readiness Initiative will support efforts to develop new signature schemes, Bitcoin upgrade proposals, wallet migration solutions, and so on.  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  The firm has noted that no quantum computer today can break Bitcoins security, but that could change “faster than expected,” and the Bitcoin community is too conservative to implement a fix fast.  The initiative will be built around developer funding, ongoing research through Galaxy Research, and a Quantum Advisory Council composed of experts in quantum computing and cryptography.  You Might Also Like  “Theres a gap between the quantum computing world, which is moving fast, and the Bitcoin development world, which is just beginning to engage with post-quantum cryptography in earnest,” Alex Thorn, the head of research at Galaxy Digital, said in a

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Bitcoin Price Closes In On $67,000, Lifting Strategy And Other Crypto Stocks

Bitcoin‘s price jumped Tuesday to its highest in over one month, bringing crypto stocks like Bitcoin treasury’s Strategy with it.  The Bitcoin price was recently priced at $66,886, up nearly 3% in 24 hours. Over the past seven days, the leading cryptocurrency has risen by close to 6%.  Its rise comes as stocks also trade higher — despite tensions in the Middle East flaring up again.  Nasdaq-listed Strategy (MSTR), formerly MicroStrategy, also jumped above $100 per share on Tuesday.  The price jump comes even as the Bitcoin juggernaut on Monday revealed it did not make its usual crypto buy, instead reporting the sale of a $225 million in MSTR shares, which it used for its dollar reserve.  Strategy stock plunged with the price of Bitcoin last year, and is currently well below its November 2024 peak of $473.83.  The software company, which started buying Bitcoin in 2020 as an inflation hedge, holds at 843,775 BTC, a position worth around $56.2 billion at current prices.  Other Nasdaq-listed crypto stocks, including Americas biggest crypto exchange, Coinbase (COIN) and Bitcoin miner Marathon Digital (MARA), also surged on Tuesday. COIN at the time of writing was up 11% and MARA was trading over 6% higher.  Middle East flare up  Bitcoins price has taken

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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

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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

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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

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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

07-21انڈسٹری

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

07-21انڈسٹری

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

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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

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