Author: James Wilson

Velvet price has surged more than 1,400% over the past week as traders pile into the token ahead of SpaceX’s highly anticipated public debut, pushing the project into one of the strongest rallies in the crypto market. Summary VELVET became one of the week’s top-performing cryptocurrencies after launching pre-IPO trading exposure to SpaceX and other private tech firms. Demand accelerated after Velvet integrated with Trade.xyz and launched synthetic markets for SpaceX, OpenAI, and Anthropic. Technical indicators show VELVET trading in an overshoot zone, with $1.95 and the psychological $2 level emerging as the next key targets. According to data from…

io.net has launched a new token burn mechanism tied directly to network revenue and said the model could remove up to 12 million IO tokens from circulation over the next year, as the decentralized GPU provider reports rising enterprise demand and record AI inference activity. Summary io.net expects to burn up to 12 million IO tokens over the next year under a new revenue linked tokenomics model. An $8 million enterprise contract and more than 4 billion daily AI inference tokens have pushed network earnings to record levels, according to the company. Supplier payouts are now tied to a stable…

Crypto scammers have set up at least three World Cup-related fraud operations linked to four cryptocurrency addresses as millions of fans prepare to attend the 2026 FIFA World Cup, according to blockchain intelligence firm TRM Labs. Summary TRM Labs identified fake World Cup ticketing sites and a fixed match betting scheme linked to four cryptocurrency addresses. U.S. authorities and FIFA have warned fans against buying tickets through unofficial websites as phishing and fraud campaigns increase ahead of the tournament. The scams emerged as the 2026 FIFA World Cup opened across the U.S., Canada and Mexico, with about 6.5 million attendees…

Federated Hermes has launched a new money market fund designed for stablecoin reserve management, introducing a product that can be used by payment stablecoin issuers operating under the GENIUS Act framework. Summary Federated Hermes has launched a digital treasury money market fund designed to qualify as a reserve asset for payment stablecoin issuers under the GENIUS Act. The fund invests in cash, short term U.S. Treasury securities, and Treasury backed repurchase agreements while operating under money market fund regulations. The launch comes as stablecoin issuers prepare for new reserve and compliance requirements tied to the U.S. stablecoin framework. According to…

Binance Wallet’s SpaceX IPO campaign attracted about $557 million in subscription funds, showing strong onchain demand for tokenized exposure to the planned listing. Summary Binance Wallet’s SpaceX IPO campaign drew about $557 million from 27,689 onchain addresses, Dune data showed. Smaller subscriptions dominated address count, but larger wallets provided most funds committed to the campaign. The campaign offers tokenized SpaceX exposure through SPCXx, but final allocations are not guaranteed. Binance Wallet campaign draws $557M Dune data showed that Binance Wallet’s SpaceX IPO subscription campaign attracted about $557 million from 27,689 addresses. The figures show strong demand for SPCXx, a tokenized…

Avalanche Treasury Co. had a weak first trading session on Nasdaq as its stock closed sharply lower under the ticker AVAT. Summary AVAT closed 38.13% lower as investors priced Avalanche exposure through a new Nasdaq-listed treasury vehicle. Avalanche Treasury holds about 15 million AVAX while the token remains near early 2021 levels. AVAX traded at $6.64, with monthly losses keeping pressure on ecosystem-linked public market shares. Avalanche Treasury Co. closed at $1.85 on Thursday, down 38.13% in its Nasdaq debut. Google Finance data showed the stock opened at $2.99, reached a high of $3.00, and fell as low as $1.75…

The US government has transferred nearly $984,000 in cryptocurrency linked to Alameda Research and FTX. The US transferred nearly $984K in seized FTX and Alameda-linked crypto. About $768K of the funds moved to Coinbase Prime, according to Arkham data. Arkham data shows US government crypto holdings total about $20.93B. Blockchain data shows that most of the funds moved to Coinbase Prime as authorities continue managing seized assets. The transfers form part of ongoing efforts tied to the recovery and distribution process following the FTX collapse. Coinbase Prime receives portion of seized FTX funds Arkham Intelligence data showed movement from wallets…

US lawmakers have introduced legislation to create a federal task force focused on cryptocurrency theft, fraud, and hacking investigations. Summary Bipartisan lawmakers introduced a bill creating a federal crypto crime task force. The proposed unit would include the DOJ, FBI, DHS, and Treasury Department. The legislation aims to improve investigations, victim reporting, and law enforcement coordination. The proposal follows a year in which Americans reported more than $11 billion in crypto-related losses. If approved, the measure would establish a coordinated reporting and enforcement framework across multiple federal agencies. Crypto fraud losses drive call for coordinated enforcement Bipartisan lawmakers introduced the…

BlackRock has moved its proposed Bitcoin income-focused exchange-traded fund closer to market debut after filing a key registration document with the U.S. Securities and Exchange Commission. Summary BlackRock filed a Form 8-A with the SEC, moving its Bitcoin Premium Income ETF one step closer to a Nasdaq launch. Bloomberg ETF analyst Eric Balchunas said the filing could signal that the BITA fund may begin trading as early as next week. The ETF plans to generate income by selling call options tied to BlackRock’s spot Bitcoin ETF, IBIT, while maintaining Bitcoin-linked exposure. According to a Form 8-A submitted to the SEC…

Ripple CEO Brad Garlinghouse has criticized JPMorgan CEO Jamie Dimon’s opposition to the Clarity Act, a bill that would establish rules for much of the U.S. crypto market. Summary Garlinghouse said Dimon misrepresented the Clarity Act’s compliance impact. Stablecoin yield provisions remain a major dispute in the bill. Polymarket places the bill’s 2026 approval odds at 47%. Garlinghouse argued that Dimon mischaracterized the legislation during recent public comments. The disagreement comes as lawmakers continue reviewing the bill before a potential Senate vote. Garlinghouse disputes Dimon’s criticism of the bill Speaking during an interview with Fox Business, Garlinghouse responded directly to…