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Abracadabra.money declared emergency measures Wednesday after its dollar-pegged stablecoin Magic Internet Money (MIM) fell roughly 50% below its $1 target. MIM was trading around $0.48 Thursday, its worst sustained depeg on record. "We're acutely aware of the $MIM depeg and are taking emergency… Read the full story at The Defiant

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According to analyst Shanaka Anslem Perera, the story everyone has been telling about Bitcoin (BTC) this year, that big money fled to gold and left crypto behind, is wrong.

He laid out the actual flow of data in a post on X, showing how the picture is considerably different from what the rotation narrative suggests.

ETF Flows Tell a Different Story

The analyst argued that, based on spot Bitcoin ETF data, investors have not abandoned the flagship cryptocurrency. Since their launch in January 2024, they have attracted more than $53 billion in net inflows, something that took gold ETFs some five years to achieve.

Things changed during the recent market correction, when about $4.4 billion flowed out in 13 consecutive trading sessions. But Perera pointed out that the money left Bitcoin to chase highs in AI and semiconductors, describing investors who made the shift as tourists who react to every changing narrative.

Per his analysis, BTC has found itself caught between two competing trades.

“When the market wanted offense, the money left Bitcoin to chase AI and chip stocks at fresh highs,” he wrote. “When the market wanted defense, the money left Bitcoin for Treasuries and cash.”

He also claimed that the gold side of the story had a similar hole in it. Indeed, big gold ETFs bled this year, but, according to Perera, the money didn’t go to BTC as some headlines had suggested, but it went into cheaper gold products, essentially meaning it was a “fee swap” and not a defection to Bitcoin.

There was a similar misread inside crypto, as XRP and Solana funds pulled money while BTC bled. Many market watchers thought it was a changing of the guard, but Perera pointed out that since those funds sit on bases 40 to 50 times smaller than Bitcoin’s, relatively modest inflows may look dramatic on a chart while having very little meaning at scale.

Debate Over Safe Haven Continues

What makes Perera’s analysis worthwhile is how it makes a distinction between what he called Bitcoin’s two shareholder bases: short-term ETF investors that react quickly and emotionally to economic data and market sentiment, and long-term holders who continue accumulating during periods of weakness.

According to the analyst, when most headlines about ETFs focused on outflows, the long-term holders added about 125,000 BTC to their holdings, basically buying the coins that the ETF crowd was panic-selling on every CPI print.

The debate around Bitcoin’s role has become quite loud this year, with billionaire Ray Dalio saying in March that gold and BTC cannot be compared, as institutions still prefer the metal as a store of value.

Other research also cast doubt on the rotation narrative, with analyst Charlie Bilello finding that both gold and Bitcoin were trading below their long-term trend levels at the same time, suggesting parallel weakness rather than capital moving directly from one to the other.

The post Bitcoin Didn’t Lose to Gold, the Rotation Story Is Wrong: Analyst appeared first on CryptoPotato.

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So far, 2026 has been an interesting year for crypto VC funding. After dropping significantly in Q1, funding has recovered strongly. In May alone, crypto projects raised over $3.52 billion. Unsurprisingly, the majority of these fundings are being directed to AI-based ventures. 

Canopy Network is one such project that successfully attracted investors with its AI pivot. The project has raised $8.5 million in seed funding for its AI-native blockchain development. 

The Panama City-based project is developing a framework built to help founders, developers, and coding assistants create onchain applications with far less engineering overhead. The funds will support the mainnet launch, engineering hires, and continued work on developer experience and AI-native tooling.

The company also acquired Tanssi technology, a decentralized protocol for deploying customized apps on blockchains in minutes. Arrington Capital, Fenbushi Capital, Borderless Capital, and SNZ Capital joined Canopy as key stakeholders through the acquisition, bringing more investor backing around the project’s next phase.

AI-Native Development Brings Builders Closer to Launch

Canopy is designed to help people build blockchain apps with less technical work.

A founder could describe an app idea, such as a loyalty program, rewards platform, or onchain marketplace, then use Canopy to turn it into working code with help from AI coding tools. The code remains readable, so developers can review, edit, and improve it as the product grows.

Because the output is code, teams can extend or upgrade their applications over time. The same code can be read by human developers, giving founders a faster path from idea to deployed application.

Liposky said Canopy is “opening blockchain development to an entirely new audience of builders.”

Keli Callaghan, Partner at Arrington Capital, said Canopy’s combination of templates, security, interoperability, and a complete development framework gives builders a faster route from idea to launch.

“Builders can move from idea to launch in a fraction of the time,” Callaghan said.

Tanssi Technology

The Tanssi acquisition gives Canopy some of the blockchain infrastructure it needs before mainnet.

In simple terms, Tanssi was built to help teams launch their own app-specific blockchains without starting from zero. It gave builders a dashboard to set up a chain, manage tokens, fund block production, and bring the network online from one place.

This was important for Canopy as its pitch depends on speed. AI tools can help generate an app, but the app still needs blockchain infrastructure to run. Tanssi gives Canopy parts of that back-end system, including tools for appchain deployment, block production, and links to Ethereum.

The deal, announced on June 3, 2026, includes Tanssi’s core technology. That covers its appchain control panel, its sequencer system for producing blocks, and its Snowbridge-based Ethereum bridge for cross-chain communication.

Canopy plans to fold this technology into its own development framework. The standalone Tanssi network was expected to wind down over 30 days after the announcement.

Testnet Activity

Canopy’s public testnet has produced strong early activity. Builders launched nearly 27,000 projects during the first 12 days, and total launches have since surpassed 331,000.

The numbers point to demand from founders and developers seeking faster ways to create onchain products through AI-assisted tools. 

Canopy’s near-term focus is mainnet, while its long-term roadmap centers on an integrated environment where non-technical founders can create, deploy, and upgrade applications from one place.

Canopy is currently live on public testnet.

The post Canopy Raises $8.5M to Bring AI-Native Blockchain Apps Closer to Mainnet appeared first on BeInCrypto.

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Blockchain analytics firm TRM Labs traced $3.84 billion in flows from wallets linked to more than 60 sanctioned Iranian entities through CoinEx since 2019, identifying the exchange as the primary external conduit for Iran-linked capital moving into global crypto markets.

Of that total, $2.7 billion flowed specifically between CoinEx and Nobitex, Iran’s largest domestic exchange, at an average rate of approximately $1 million per day since 2018. By any documented measure, this is the largest single-exchange crypto sanctions-evasion pipeline tied to Iran yet identified.

The TRM Labs report landed three weeks after the US Treasury sanctioned four Iranian crypto exchanges as part of its Economic Fury campaign, with Treasury Secretary Scott Bessent separately confirming the seizure of $1 billion in crypto from Iranian exchanges and wallets since the start of the war.

CoinEx is not among the sanctioned entities. That gap, between what the blockchain data shows and what enforcement has acted on, is the structural tension this report forces into the open. The Iran-CoinEx controversy is now squarely on the US Treasury’s radar.

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CoinEx’s 8% Illicit Rate Is 27x the Industry Benchmark

The compliance gap TRM Labs documents is not marginal. CoinEx’s share of illicit transaction volume sits at nearly 8%, against a 0.3% threshold observed at compliant exchanges, a ratio of roughly 27 to one.

That number is not cosmetic; it is the quantitative basis for TRM’s conclusion that the CoinEx-Nobitex relationship reflects a “coordinated arrangement rather than organic adoption.”

The specifics reinforce that reading. By 2024, CoinEx was Nobitex’s largest external counterpart by volume, nearly nine times larger than the next-biggest exchange, a concentration TRM called “inconsistent with independent market behaviour.”

Major Iranian domestic exchanges route between 5% and 10% of their trading volume through CoinEx, a uniformity across platforms that would be statistically improbable if each exchange were making independent routing decisions.

CoinEx-affiliated mining pool ViaBTC adds another layer. TRM Labs traced $154 million in ViaBTC exposure to Nobitex through mining payouts.

More pointedly, ViaBTC supplied emergency liquidity to Nobitex following the Predatory Sparrow hack in June 2025, a $90 million breach that left Nobitex operationally stressed. An affiliated mining pool stepping in as a liquidity backstop for a sanctioned exchange is not a pattern that emerges from coincidence.

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Nobitex Was the On-Ramp, CoinEx Was the Exit

The architecture of the pipeline is straightforward. Sanctioned Iranian entities, including IRGC-linked wallets and entities tied to Iran’s domestic financial system, moved funds into Nobitex, which handled approximately 50% of Iran’s crypto trading volume, per a June 2 Chainalysis report.

Nobitex then routed capital outward through CoinEx, which provided access to global liquidity and the ability to convert into dollar-equivalent stablecoins beyond the reach of Iranian sanctions enforcement.

This flow pattern has been running since at least 2018 on the CoinEx-Nobitex corridor, and since 2019 for the broader universe of sanctioned entities TRM Labs tracked. Nobitex’s own political exposure sharpened the stakes: in May 2026, the exchange was reportedly linked to members of a powerful family with ties to Supreme Leader Ali Khamenei, suggesting the pipeline served interests at the apex of the Iranian state, not just retail traders seeking dollar access.

The displacement of other exchanges from Nobitex’s external routing is also analytically significant. CoinEx overtook Binance as Nobitex’s largest foreign counterparty by 2024, after Binance faced US enforcement pressure. That transition illustrates precisely the rerouting dynamic critics of venue-specific enforcement consistently flag: pressure on one exchange does not eliminate the demand, it reassigns it.

CoinEx Denies Government Ties. The On-Chain Data Is Not a Contract.

CoinEx issued a denial on X following the TRM Labs report, stating it has no commercial relationship with the Iranian government or domestic Iranian exchanges and has never provided funding channels to sanctioned parties.

The exchange also disputed TRM Labs’ interpretive framework directly, arguing that “onchain fund flows do not demonstrate a platform’s knowledge of or participation in illicit activity.”

The denial addresses contractual relationships; the TRM Labs report documents transaction flows. Those are not the same evidentiary category, and the distinction matters.

OFAC sanctions exposure does not require proof of a formal commercial agreement – it requires demonstrated facilitation of transactions involving sanctioned parties.

Whether CoinEx knew the identities behind the wallets routing $3.84 billion through its platform is a compliance question. That the flows existed at 27 times the illicit-volume rate of compliant exchanges is the data point that precedes that question.

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The post CoinEx Named as Iran Largest Crypto Sanctions Exit Route by TRM Labs appeared first on Cryptonews.

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A global movement arrives at the home of the Montreux Jazz Festival

AI.LOVE.JAZZ, the global AI Jazz music contest and live event, is bringing the world’s first AI jazz festival to Montreux, Switzerland. Taking place on July 9–10, 2026, alongside the world-famous Montreux Jazz Festival, AI.LOVE.JAZZ combines a two-month global online competition with a live international event dedicated to showcasing the best AI-assisted music and fostering dialogue among artists, AI platforms, technology companies, regulators, and the broader music industry.

Why Now — From Grey To White Zone

AI music is already everywhere. It’s time to give it a proper stage — stepping out of the grey and inviting the industry to collaborate, creating a safe and productive space for the creativity of millions.

“The period of the Wild West in AI music is gradually coming to an end. We are moving from experimentation into what I call the white zone — a space where creativity, innovation, fair competition, and compliance can coexist. AI is not replacing artists. It is another tool in the hands of talent — giving an opportunity to millions to become creative and experiment. Behind every great AI-generated track stands a human being with taste, vision, emotion, and something meaningful to say. Our mission is to help the world see AI music through that lens.”

— Alex Chapsky, Co-Founder of AI.LOVE.JAZZ

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AI.LOVE.JAZZ exists to give that movement a real cultural stage, and to open honest dialogue between artists, AI platforms, technology companies, regulators, and the broader music industry about what comes next. The contest of AI-Jazz included jazz, blues, funk, soul and melodic rock tracks, created with the assistance of generative AI tools.

For the first time, AI-assisted tracks will be performed live by a jazz band — on Day 1, when the Semi-Finals take place.

AI Jazz In The Heart Of Montreux — Casino Barrière, Riviera Café

The event takes place across two evenings at Riviera Café of Casino Barrière Montreux — a venue deeply embedded in music history, forever associated with Queen, Deep Purple, and many other legendary artists — and one of the world’s most iconic music stages. Both days of AI.LOVE.JAZZ fall within the Montreux Jazz Festival, one of the world’s most iconic music destinations.

• July 9 — Semi-Finals: VIP networking apéro & talks. Doors at 17:00, show starts at 20:00.

• July 10 — Grand Finale Gala: awards ceremony, the year’s best AI jazz tracks performed live, and a closing set from Latin jazz act PATAX with percussionist Jorge Pérez. Doors at 17:00, show starts at 20:00.

An International Jury

AI.LOVE.JAZZ 2026 features an international jury representing music production, creative technology, and AI:

• Oscar Gómez (Spain): Five-time Grammy Award winner, producer, and songwriter who has worked with artists including Celia Cruz, Ricky Martin, Enrique Iglesias, Miguel Bosé, Rocío Jurado, and Roberto Carlos.

• MoneOnDaBeat (USA): Producer, filmmaker, and entrepreneur known for projects at the intersection of music, culture, and technology.

• Jieun Park (South Korea): CEO of Pulse9 and creator of the Deep Real project, focused on next-generation generative AI experiences.

Sponsors and Partners

AI.LOVE.JAZZ is backed by Crypto Valley Association, Switzerland’s leading blockchain ecosystem, and supported by Innovaud, the innovation and investment promotion agency of the Canton of Vaud.

YouHodler, the regulated Swiss and EU-based Web3 platform, joins as Official Fintech Partner and Title Sponsor of AI.LOVE.JAZZ 2026.

“Music has always been one of the most powerful forms of human expression. Throughout history, every major technological shift has influenced how music is created, distributed, and experienced. We are witnessing another such transformation today with artificial intelligence. At the same time, we see similar patterns in finance, where blockchain technology and digital assets are changing how people interact with money. Adoption happens when technology becomes useful, accessible, and trusted. AI.LOVE.JAZZ represents precisely that moment for AI-powered creativity, and we are proud to support this movement as its Official Fintech Partner.”

— Ilya Volkov, CEO of YouHodler and Co-Founder of AI.LOVE.JAZZ

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Facts About AI Music

• 60,000 — AI-generated tracks uploaded to streaming platforms every day.

• $2.6–6.6B — Estimated value of the AI music market in 2025.

• 65%–85% — Of all music producers say they incorporate AI tools into their workflow.

• AI.LOVE.JAZZ Radio has been broadcasting AI-assisted jazz, blues, soul, funk, and melodic rock 24/7 since launching in March 2026 — a growing, living catalogue of what AI-assisted music sounds like today.

• Every track on the radio and in the contest is a reminder that behind every successful AI-generated track stands human creativity, artistic vision, and countless hours of work. AI composes, but it does not feel, choose, or mean.

• The contest has already drawn submissions from creators across dozens of countries — proof that AI is lowering the barrier to musical creation without lowering its emotional stakes.

Personalities Behind The Movement

• Ilya Volkov — Co-Founder of AI.LOVE.JAZZ and CEO of YouHodler. A fintech pioneer and AI music creator himself, driven by the conviction that AI-generated music can be genuinely beautiful.

• Alex Chapsky — Co-Founder of AI.LOVE.JAZZ. AI-artist, screenwriter, marketing and brand strategist, shaping the project’s voice, vision, and cultural positioning.

• Oscar Gómez, MoneOnDaBeat, and Jieun Park — the international jury bringing decades of Grammy-winning production experience and deep expertise in AI creativity to the panel.

About AI.Love.Jazz And AI.Love.Jazz Radio

AI.LOVE.JAZZ is a global online AI music contest and a two-day live event in Montreux, Switzerland, created to bring AI-assisted music into a real cultural spotlight alongside one of the world’s most iconic music destinations.

Founded by AI music enthusiasts, the initiative is backed by Crypto Valley Association and supported by Innovaud, while bringing together artists, technology companies, investors, and industry leaders around a shared vision of responsible innovation in music. Since launching in March 2026, AI.LOVE.JAZZ Radio has been broadcasting AI-assisted jazz, blues, soul, funk, and melodic rock music 24/7, showcasing a growing catalogue of AI-assisted music. For more information, visit ailovejazz.com and ailovejazz.com/radio.

About YouHodler

YouHodler is a regulated Swiss- and EU-based Web3 platform that offers innovative fintech solutions, seamlessly bridging fiat and cryptocurrency financial services with simplicity, efficiency, and transparency. While user-friendly and intuitive for everyday consumers, the full-service platform is also advanced enough to facilitate strategic trading in the cryptocurrency market. For more information, visit youhodler.com.

Montreux, Switzerland — June 2026

The post AI.LOVE.JAZZ Brings the World’s First AI Jazz Festival to Montreux appeared first on BeInCrypto.

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Apple raised starting prices across its Mac and iPad lines on Thursday, passing higher memory and storage costs to consumers.

The company blamed a worsening shortage of memory chips tied to AI data center demand. Apple (AAPL) shares fell nearly 6%, as investors questioned whether the increases would cool sales.

Why Apple Raised Mac and iPad Prices Now

The increases reach almost every Mac and iPad and apply worldwide, according to Bloomberg. The MacBook Neo now starts at $699, up from $599. The 13-inch MacBook Air climbed to $1,299, while the entry 14-inch MacBook Pro hit $1,999, per 9to5Mac.

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iPhone, Apple Watch, and AirPods prices held steady. The split shows Apple targeting its most memory-hungry devices. Apple had already moved quietly, offsetting March increases with extra memory, then dropping the $599 Mac mini in May.

The cost pressure starts upstream. Contract prices for the DRAM used in PCs and phones roughly doubled in the first quarter. That was the steepest jump on record, according to TrendForce.

Memory makers Samsung and SK Hynix have redirected supply to meet AI memory demand from data centers. Apple now competes for what remains.

“We have never seen a component price increase this much, this quickly… we have now reached a point where we need to begin raising prices on a number of products, including today’s increases for iPad and Mac,” Apple, in a statement to Reuters

Relief looks distant. Micron, whose stock has ridden the AI memory rally, told investors the shortage could last into 2028.

Apple warned in April that conditions would worsen this year. Incoming CEO John Ternus inherits the squeeze on Sept. 1.

Shares slid nearly 6% from their session high to around $279. Meanwhile, investors weighed whether pricier devices would slow upgrades.

IBM Points to a Distant Fix

On the same day, International Business Machines (IBM) unveiled the first sub-1-nanometer chip technology. Its nanostack design stacks transistors in three dimensions.

The result packs nearly 100 billion transistors onto a fingernail-sized chip. That roughly doubles the density of IBM’s 2-nanometer chip from 2021.

IBM claims up to 50% higher performance or 70% better energy efficiency. Such gains could ease the squeeze that now feeds broader chip-driven inflation.

However, production sits roughly five years away. IBM shares rose as much as 6% premarket, then pared the gain as investors weighed the wait.

The contrast captures AI’s two-sided pull on hardware. The boom is lifting device prices today, while the fixes stay years out. For now, the memory crunch is reshaping chip stocks and the AI crypto tokens investors track.

The post AAPL Stock Drops 6% After Apple Passes AI-Driven Chip Costs to Consumers appeared first on BeInCrypto.

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