Crypto exchange Backpack has launched 24/7 trading for select tokenized US equities, allowing international investors to trade stocks including SpaceX, Micron and SanDisk around the clock.

Under the initial offering, Backpack said that investors would receive direct ownership of the underlying securities rather than synthetic exposure, with trades settling instantly and funded in fiat currency or stablecoins. The initial offering includes a limited selection of US equities, with additional stocks planned.

The company also offers Solana-based tokenized versions of the securities, which can be transferred between wallets, used in decentralized finance applications and converted 1:1 into the corresponding shares through Backpack.

Backpack said the service is available to investors in more than 150 countries and regions and that trades are backed by liquidity from traditional exchanges.

The company added that tokenized SpaceX shares became the most actively traded tokenized version of the private rocket and AI company after launching in June, though it did not disclose trading volumes or provide comparisons with competing offerings.

Related: Tokenized stock transfers surge 105% in a month to $8.4B

Earlier this year, Backpack unveiled a token distribution model tied to its planned US initial public offering. Users who stake the exchange’s native token for at least one year will be eligible to exchange it for company equity after the IPO, while part of the token supply will remain locked until at least one year after the listing.

Traditional finance joins tokenized equities push

Backpack’s launch comes as tokenized equities have become one of the fastest-growing segments of the onchain real-world asset (RWA) market.

According to RWA.xyz data, the tokenized stock market has grown from about $379 million to $1.85 billion over the past year. Over the past 30 days alone, distributed value has climbed 28.6%, while monthly transfer volume has surged over 85% to $8.76 billion.

Tokenized stocks. Source: RWA.xyz

Crypto exchanges have led much of that growth. Kraken, which acquired xStocks developer Backed Finance in late 2025, has expanded the platform across its exchange, while Bybit and Bitget have also integrated xStocks. Coinbase and Binance have likewise rolled out tokenized equity offerings in recent months.

Traditional exchanges have also embraced tokenization. In March, the SEC approved Nasdaq’s pilot to trade tokenized stocks alongside conventional securities on the same exchange, while the New York Stock Exchange partnered with Securitize to develop a 24/7 platform for tokenized stocks and ETFs.

The following month, the Depository Trust & Clearing Corporation (DTCC) announced plans to launch a tokenized securities service in October after a pilot involving more than 50 financial and crypto firms.

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Robinhood said eligible US-based customers will soon be able to connect third-party AI agents to make crypto trades on their behalf, marking the latest expansion in autonomous trading after the company rolled out a similar product to equities and options traders in May.

“You can work with an agent to create a strategy with specific guardrails and not need to be constantly monitoring your account,” a Robinhood executive said during a presentation on Friday.

Robinhood didn’t set a date for when it would roll out the product to eligible US crypto traders but noted that its UK customers would be next in line to access the offering.

Equities traders can already ask AI agents to invest in crypto mining stocks on their behalf. Source: Robinhood

The push for autonomous crypto trading adds to Robinhood’s broader crypto strategy, which has primarily focused on real-world asset tokenization and the company’s Ethereum layer 2 Robinhood Chain, which launched earlier this month.

Robinhood’s senior vice president and general manager of crypto, Johann Kerbrat, said the new blockchain processed 17 million transactions from nearly 350,000 wallet addresses in its first week.

Meanwhile, over 70,000 agentic accounts have already been created by Robinhood equities and options traders since late May, when the platform launched a beta version of the product.

AI agents serve to even the playing field

During the presentation, the Robinhood executive said the AI agents would enable retail users to base trades on data that they would have otherwise missed, putting them on a more equal playing field with institutions:

“This is another big step towards giving retail investors every advantage that institutions have enjoyed for decades.”

Robinhood offers the agentic accounts through several third-party AI companies, including Anthropic, OpenAI and SpaceX’s Grok.

Robinhood is also enabling eligible users to have credit card purchases made on their behalf by AI agents.

It comes as crypto industry executives like Coinbase CEO Brian Armstrong and Circle CEO Jeremy Allaire have tipped that AI agents will become the dominant users of blockchain payments in the next few years. 

AI agent crypto payment integrations are also taking place

Several notable integrations advancing AI agent-driven stablecoin spending have emerged in recent months, including one by Amazon Web Services in May when it integrated Coinbase’s x402 payments protocol into Amazon Bedrock AgentCore, allowing agents to transact in the USDC (USDC) stablecoin. 

Related: Robinhood Venture Fund invests $75M in OpenAI 

In April, crypto wallet startup Oobit launched a Visa-supported virtual card for AI agents to make online purchases in USDt (USDT) on behalf of businesses. 

AI agent payments adoption lagging

Despite the integrations, data shows that AI-agent transaction activity on the blockchain remains relatively small, with Artemis data showing that only $2 million in transaction volume was facilitated through the AI agent-supported x402 protocol in June.

Features: The 5 types of real world assets being tokenized fastest onchain 

OpenAI has reportedly supplied AI technology to Chinese companies on the Pentagon’s military-linked blacklist, adding fresh scrutiny to U.S. controls over advanced artificial intelligence exports.

According to the reported findings, OpenAI and Google provided access to their AI models to Chinese companies included on the U.S. Department of Defense’s Section 1260H list, which identifies entities the Pentagon believes are tied to China’s military-industrial complex.

While inclusion on the list does not automatically prohibit commercial dealings or trigger sanctions, the designation serves as a warning for U.S. businesses evaluating relationships with those organizations.

The reported access has drawn attention because both companies have publicly positioned themselves as important partners in Washington’s efforts to maintain U.S. leadership in artificial intelligence.

OpenAI has repeatedly highlighted its role in strengthening American AI capabilities, while Google has expanded work with U.S. defense and intelligence agencies. Against that backdrop, the reported availability of their models to blacklisted Chinese firms has raised new questions about how advanced AI systems are distributed internationally.

Cloud-based AI remains difficult to control

Unlike conventional defense technologies that move through physical supply chains, AI models can be delivered through cloud-based application programming interfaces, commercial partnerships, or intermediary services. According to the report, those distribution channels make frontier AI systems harder to restrict once they become commercially available, even when governments tighten technology controls.

The development comes shortly after OpenAI expanded access to its latest GPT-5.6 family. As crypto.news reported earlier, the company has begun rolling out GPT-5.6 across ChatGPT, Codex, and its API while introducing a new capability-based lineup consisting of GPT-5.6 Sol, Terra, and Luna.

OpenAI said the release replaces its previous naming convention and separates models by intelligence, speed, and pricing, with availability expanding across consumer, enterprise, and developer products worldwide over a 24-hour deployment window.

Regulatory pressure could increase

At the policy level, the reported model access arrives as Washington continues tightening restrictions on advanced AI technology reaching China. The U.S. Commerce Department has repeatedly expanded chip export controls, while successive administrations have introduced measures governing the transfer and diffusion of advanced AI capabilities.

According to the report, if frontier AI models continue reaching companies connected to China’s military despite those efforts, lawmakers could seek stricter oversight of AI distribution. Possible measures discussed in the report include mandatory know-your-customer checks for AI API users or direct limits on providing advanced models to organizations in countries viewed as strategic rivals.

The report also notes that investors may watch the issue closely because additional regulation could affect how leading AI developers generate revenue from global API services. Any congressional inquiry or executive action targeting commercial AI model access could alter operating conditions for companies that currently rely on broad international customer bases.

Competitive effects may also follow if U.S. providers face tighter distribution rules. According to the report, restrictions on American frontier models could create opportunities for domestic Chinese AI developers, including Alibaba, Baidu, and DeepSeek, whose products would remain available within China’s technology ecosystem even if access to U.S. models becomes more limited.

South Korea has launched its first government-backed blockchain stablecoin pilot after Gyeonggi Province confirmed an eight-month proof-of-concept program scheduled to begin in August.

According to blockchain media outlet NexBlock, Gyeonggi Province, the country’s most populous province, will begin testing a blockchain-based stablecoin in August as part of an initiative to examine its use for regional currency and government disbursements. The project is being led by blockchain security company ZKrypto and is expected to run until February 2027.

First phase focuses on core stablecoin functions

During the initial stage, the pilot will test how the stablecoin is issued, circulated, and settled before moving into a second phase between October and December. ZKrypto said the later stage will examine fraud prevention measures, privacy protections, and the possibility of using the stablecoin across public benefit programs.

To support the pilot, ZKrypto said the system will use zero-knowledge proof technology to stop duplicate spending while protecting user privacy. The company added that proof-of-reserves technology will verify reserve assets in real time throughout the testing process.

ZKrypto also stated that the project comes as dollar-denominated stablecoins continue gaining adoption globally, adding that South Korea should strengthen its own domestic stablecoin infrastructure. The company presented the provincial pilot as one step toward evaluating whether locally issued digital assets can support public-sector financial services.

Private companies are expanding won stablecoin infrastructure

The government-backed pilot follows several private-sector initiatives announced this week as South Korean companies continue testing blockchain payment infrastructure.

Earlier this week, financial super-app Toss signed a strategic agreement with Optimism and Sunnyside Labs to evaluate infrastructure for South Korean won-linked stablecoins.

According to a press release shared with crypto.news, the three companies will conduct a three-month proof-of-concept to determine whether blockchain infrastructure can support institutional payment systems while complying with South Korean financial regulations.

Separately, South Korea’s largest telecommunications company, KT, disclosed plans to invest 18 trillion won ($13.2 billion) over the next three years, including 6 trillion won for artificial intelligence infrastructure and 12 trillion won for networks, information technology, and cybersecurity.

According to South Korean technology publication Digital Daily, KT Chief Executive Park Yoon-young said the investment strategy also includes expanding into tokenization services and infrastructure for won-based stablecoins.

The company said those blockchain initiatives will be developed alongside upgrades to its core telecommunications business as part of its long-term growth plans.

Taken together, the announcements show government agencies, financial technology companies, and telecommunications providers testing different parts of South Korea’s digital payments infrastructure.

While Gyeonggi Province is examining stablecoin use in public administration, private companies are evaluating blockchain networks for regulated payments and building the systems needed to support future won-denominated digital assets.

Policymakers in New Hampshire’s executive council voted against a proposal that would have allowed the state to issue $100 million in bonds backed by Bitcoin (BTC).

At a Wednesday hearing, the five-member panel voted 3-2 against the New Hampshire Business Finance Authority’s (BFA) proposed issuance of $100 million in BTC-backed bonds. The proposed investments, which the authority approved in November 2025, already had support from Governor Kelly Ayotte.

“It was an extremely short-sighted decision,” said state representative Keith Ammon in a Thursday X post after the vote. “I can’t believe I witnessed it in person. They should gather all relevant facts and information and reconsider their vote at a future meeting.”

Councilors Karen Liot Hill, Dave Wheeler and Janet Stevens voted against the measure, while Joseph Kenney and John Stephen approved it. The crypto investment vehicles, issued by the BFA and with CleanSpark putting up BTC as collateral, would have marked New Hampshire’s continued approval of digital asset policies, following its May 2025 crypto reserve law.

Related: Bank of Korea governor outlines tokenized bond vision, unified ledger plan

While the BTC-backed bonds had support from many in the crypto industry, some experts warned against the proposal, saying it carried “substantial risk” for New Hampshire residents. Moody’s assigned the Bitcoin bond a provisional Ba2 rating in March.

New Hampshire to join prediction markets fight against CFTC?

With gaming authorities in many US states having already filed lawsuits against prediction market platforms like Kalshi and Polymarket over sports betting, some have speculated that New Hampshire could join the legal fight challenging the Commodity Futures Trading Commission’s (CFTC) authority. State Senator Tim Lang reportedly planned to introduce legislation restricting prediction markets in New Hampshire in April, but as of Friday, the platforms were still live in the state.

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Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

The U.S. Department of Justice is reportedly moving toward dropping federal charges against Matthew Goettsche, the founder of BitClub Network, a purported Bitcoin mining operation accused of defrauding investors of $722 million between 2014 and 2019. The development, if finalized, would represent one of the more consequential reversals in recent U.S. crypto enforcement history.

According to a Bloomberg Law report, the DOJ’s deputy attorney general’s office directed the New Jersey attorney general’s office to dismiss the case against Goettsche with prejudice. Following that directive, Goettsche’s attorneys informed the court that the parties had reached an “agreement in principle” to resolve the pending charges, but needed additional time to finalize the terms.

Key takeaways

• DOJ action to dismiss the BitClub Network case with prejudice would mark a major enforcement rollback for a high-profile crypto fraud prosecution.
• Goettsche’s counsel says the parties reached an agreement in principle, signaling a likely procedural resolution, though terms are not yet final.
• The case reversal follows a broader DOJ policy push described in an April 2025 memo from Deputy Attorney General Todd Blanche.
• Earlier in the same BitClub matter, multiple former associates—Silviu Balaci, Joseph Abel, and Gordon Beckstead—have already pleaded guilty.

A dismissal “with prejudice” under discussion

In a court filing surfaced via Bloomberg Law, Goettsche’s attorneys wrote to U.S. District Court Judge Claire Cecchi on Wednesday stating that the parties had reached an “agreement in principle” to resolve the pending charges. The letter adds that the parties “need time to finalize the terms,” suggesting that while a shift in posture has occurred, the outcome still depends on completing the procedural steps required by the court.

Bloomberg Law reported on Friday—citing two sources familiar with the matter—that DOJ leadership instructed New Jersey prosecutors to dismiss the case with prejudice. In legal terms, dismissal “with prejudice” typically prevents the government from refiling the same charges, which would effectively end the case against Goettsche in its current form.

Background on BitClub’s allegations

Goettsche was indicted in December 2019 and was scheduled for trial in October on charges including conspiracy to commit wire fraud and selling unregistered securities. Prosecutors characterized BitClub as a mining pool where investors could purchase shares and receive passive earnings.

According to the allegations described in reporting, BitClub purportedly falsified earnings values reported to investors and fabricated mining-related data to attract additional participation. The claim that investors were promised returns tied to mining activity is central to how the scheme was framed, because it linked the advertised profitability of mining to alleged misrepresentations.

The timing also matters for readers trying to understand the scope of potential impact. The accusations cover a multi-year window from 2014 to 2019, after which the case entered the federal court system and eventually resulted in an indictment and trial scheduling.

Why this case stands out in DOJ’s crypto approach

The reported reversal comes amid a broader shift in DOJ messaging about how prosecutors should approach digital assets—at least as described in internal guidance. In April 2025, Deputy Attorney General Todd Blanche issued a memo directing the DOJ to move away from what it characterized as “regulation by prosecution” against the digital asset industry, according to a DOJ-published document: https://www.justice.gov/dag/media/1395781/dl?inline.

That memo has been interpreted across the industry as a potential recalibration of how far enforcement actions should be used to draw lines on digital asset behavior. Earlier reporting from Cointelegraph also referenced this pivot in the context of Blanche’s views on the relationship between code and criminality, including coverage such as Acting AG Todd Blanche confirms ‘code is not a crime’ in DOJ pivot.

Still, the BitClub allegations—centered on investor deception and alleged wire fraud—sit in a familiar lane for U.S. prosecutors: fraud and securities-related theories rather than purely novel questions about whether a technology feature is “criminal.” That creates a tension worth watching. If the government is willing to step back from prosecuting Goettsche, investors and legal observers will likely focus on what DOJ believes the evidentiary or legal posture looks like under the newer policy framework.

The human dimension: prior pleas by co-defendants

One reason this potential dismissal drew attention is that the BitClub case already produced guilty pleas from multiple figures previously involved in the scheme. According to the coverage, three of Goettsche’s former colleagues—Silviu Balaci, Joseph Abel, and Gordon Beckstead—have pleaded guilty. Their earlier outcomes can complicate perceptions of how the government views the case overall, especially if Goettsche’s prosecution is curtailed while other participants have already resolved their matters.

It’s also notable that the broader enforcement environment for crypto remains active. Earlier coverage highlighted that DOJ continues to pursue criminals operating in digital asset fraud and theft. In April, a California man named Evan Tageman was sentenced to 70 months in prison for an alleged criminal enterprise that stole about $263 million worth of crypto from victims through social engineering scams and burglary, per Cointelegraph reporting such as this article. Separately, DOJ actions reported in April described the freezing of over $700 million in crypto tied to investment scammers targeting Americans, and in February, the seizure of nearly $580 million linked to a criminal scam group operating in Southeast Asia—reflected in Cointelegraph coverage including this report and this one.

Taken together, those examples suggest that while DOJ’s strategic posture may be shifting, enforcement against alleged fraud and theft is still proceeding through other cases. The question in the BitClub matter is therefore not whether DOJ will prosecute crypto-related wrongdoing, but whether it will continue this particular prosecution in light of updated internal guidance and the specifics of the case.

What to watch next

For now, the key development is procedural: Goettsche’s attorneys say an agreement in principle exists, but the terms are not yet finalized. Investors, attorneys, and crypto operators should watch for the court’s next filings to confirm whether the dismissal becomes official—and, if so, how DOJ explains its reasoning in a way that clarifies what the “regulation by prosecution” directive means when fraud allegations are on the table.