Author: James Wilson

The CFTC used emergency authority to override New York. Nine states have been sued. FlightAware added a data rights claim. The legal architecture of prediction markets is being built in courtrooms, not in Congress. Summary The CFTC on August 11 invoked emergency authority under the Commodity Exchange Act to order KalshiEX to continue operating nationwide after New York Attorney General Letitia James sued the platform on July 31, seeking a temporary restraining order and more than $36 billion in damages. The federal regulator has now filed lawsuits against nine states, including Arizona, Connecticut, Illinois, Kentucky, Minnesota, New Mexico, New York,…

Bitwise Asset Management has cut 14% of its workforce, reducing its global team to about 155 employees as the crypto asset manager operates through a prolonged market downturn. Summary Bitwise has cut 14% of its workforce, reducing its global team to about 155 employees. CEO Hunter Horsley said the layoffs leave the company positioned for continued growth despite the crypto market downturn. The Bitwise 10 Crypto Index Fund saw its net assets fall 31% during the first seven months of 2026. Bitwise has continued expanding through acquisitions, including its February purchase of institutional staking provider Chorus One. Bitwise CIO Matt…

Harmony said on Aug. 12 that it was working with cryptocurrency exchanges to stop and freeze funds after a suspected security incident on its Layer 1 network.  Summary Harmony is working with exchanges to freeze funds while developing patch and evaluating rollback options. Analyst Juiceberg reported roughly four billion ONE were minted without authorization through empty network blocks. About 2.8 billion ONE reportedly reached exchanges, while Harmony has not confirmed the amount publicly. ONE fell about 26% over 24 hours as trading volume surged above $36 million Wednesday. Harmony previously suffered a staking bug that unintentionally minted 146.3 million ONE…

MoneyGram expanded its blockchain payments strategy on Aug. 11 by launching MoneyGram Ramps on Solana, giving wallets, exchanges and developers access to its cash network through one API.  Summary MoneyGram Ramps now gives Solana applications cash withdrawals across more than 170 countries and territories. Cash deposits are available in over 25 countries through one developer API without banking integrations. Rift became the first Solana wallet to integrate MoneyGram Ramps for crypto and local currency. MoneyGram already operates a Solana validator after joining the network and developer platform in June. U.S. Ramps access excludes Alaska, Louisiana, Hawaii and New York, according…

Brazil’s largest bank by market value has joined a pilot involving more than 50 financial organizations to test the issuance, trading, and settlement of tokenized fixed-income securities and investment funds. Summary More than 50 financial organizations are participating in ANBIMA’s tokenization pilot. Itaú and OpenAssets will test the full lifecycle of tokenized bonds and funds. The project will assess technical, operational, and compliance standards for blockchain-based markets. Itaú previously participated in the Brazilian central bank’s Drex digital currency pilot. OpenAssets said in an Aug. 11 announcement that it has started working with Itaú Unibanco on a structured use case within…

Spritehood has sold 42,956 paid NFTs on Robinhood Chain in about 53 minutes, generating nearly $1.28 million for Pudgy Penguins co-founder Cole Villemain. Summary Paid buyers minted 42,956 Spritehood NFTs priced at either $17 or $117. The sale generated about $1.283 million, equal to roughly 684.28 ETH at the mint price. Another 1,488 NFTs were distributed free, bringing the reported collection total to 44,444. Spritehood’s Blockscout contract page displays unverified source code, limiting public review of its mechanics. Spritehood NFT sale reached $1.28 million The Defiant reported that Villemain launched Spritehood on Aug. 11 after previously being removed from the…

Coinbase has secured Abu Dhabi regulatory approval to arrange investment deals and provide custody as it prepares an international hub for tokenized securities and onchain capital markets. Summary Coinbase has received Financial Services Permission from Abu Dhabi Global Market’s financial regulator. The authorization covers arranging investment deals and providing custody for tokenized securities. Eligible token holders will receive shareholder rights, including dividends and voting rights. Coinbase plans to operate major tokenization and derivatives businesses from Abu Dhabi and Dubai. Coinbase secures approval for tokenized securities Coinbase said in an announcement published by Abu Dhabi Global Market that the Financial Services…

Chicago Fed President Austan Goolsbee has identified inflation above the Federal Reserve’s 2% target as the main U.S. economic problem while officials debate whether to raise rates from 3.50%–3.75%. Summary Goolsbee called inflation the economy’s biggest problem, while describing the labor market as stable but weak. The Fed held rates at 3.50%–3.75% in July, with three officials backing a 25-basis-point increase. Economists expect July headline and core CPI to slow to 3.4% and 2.5%, respectively. Bitcoin fell into the low-$63,000 range as oil prices and inflation concerns reduced demand for risk assets. Why Goolsbee sees inflation as the main challenge…

Bitwise’s Solana staking ETF has received approval from a major bank for customers to borrow up to 25% of their shares’ value, adding a lending function to the U.S.-listed crypto fund. Summary A major bank has approved BSOL as loan collateral with a maximum 25% LTV. Borrowers may receive up to $25 for every $100 in pledged BSOL shares. BSOL held 8.18 million SOL worth $622 million as of Aug. 9. Bitwise reported a 5.84% net staking reward rate, with 99% of assets staked. Bitwise co-founder and CEO Hunter Horsley disclosed the approval in an Aug. 11 X post, saying…

Aster has activated AOS-2, requiring projects to stake 1 million ASTER for four years before validators can approve a new perpetual market. Summary Applicants must stake 1 million ASTER for four years, with no early withdrawal option. Successful proposals will move to Aster’s risk team before the contract launches on T+1. Projects that fail the validator vote will receive their full ASTER stake back. AOS-3 will follow, although Aster has not disclosed its rules or launch date. AOS-2 opens Aster perpetual listings to applicants Aster said in an Aug. 11 X post that the standard replaces private listing talks with…