Stablecoins are increasingly moving beyond the “faster transfer” narrative and into more basic functions: helping people and businesses access dollars when local currency conditions are unstable. In Bolivia, a new proposal would formally recognize Tether’s USDT for payments—an attempt to widen access to dollar-denominated value as the country grapples with persistent foreign-exchange pressure.

Meanwhile, the market’s attention is also shifting to how crypto-native infrastructure companies translate new strategies into shareholder value. Bitcoin miners pitching AI and high-performance computing plans are drawing renewed scrutiny as investors focus on governance and insider activity, even as selected deals attract major attention.

Key takeaways

• Bolivia is reviewing a framework that would allow USDT to circulate alongside the boliviano and the U.S. dollar for payments and savings, with anti-money laundering controls planned.
• The push is tied to a prolonged shortage of dollars and widening pressure on official versus parallel exchange rates, increasing demand for dollar-denominated alternatives.
• Bitcoin miners’ AI infrastructure pivots are facing closer investor scrutiny, including questions around insider stock sales and whether AI-driven upside reaches public shareholders.
• CleanSpark’s Georgia data center lease highlights the sector’s effort to replace or supplement mining revenue with longer-term infrastructure contracts.
• Bitmine reported $45.7 million in revenue from Ethereum staking and validation last quarter, underscoring that staking businesses can remain cash-generative even when token prices are choppy.

Bolivia moves to recognize USDT as a payment option

Bolivia is considering a regulatory approach that would recognize Tether’s USDT as a payment currency, according to earlier coverage from Cointelegraph (Bolivia weighs USDT payment currency amid dollar shortage). If adopted, the rules would reportedly enable USDT to circulate in parallel with the boliviano and the U.S. dollar for both payments and savings.

Economy and Public Finance Minister Jose Gabriel Espinoza said the proposal would also include anti-money laundering safeguards. That matters in Bolivia’s case because the country is still on the Financial Action Task Force’s “gray list,” a status that tends to raise compliance expectations for any financial product that could touch broader cross-border flows.

The initiative follows two related developments. First, Bolivia lifted its crypto ban in 2024. Second, Cointelegraph previously reported that the new administration has pledged to broaden access to digital asset services (Bolivia integrate crypto stablecoins financial system).

While stablecoins have often been marketed as a tool to move value quickly across borders, Bolivia’s case highlights a different driver: domestic dollar scarcity. The proposal comes as Bolivia has faced a prolonged shortage of U.S. dollars after pressures on foreign-exchange reserves forced the government to abandon a long-standing currency peg earlier this year. That shift has increased demand for dollar-denominated alternatives, with USDT becoming a practical payment channel for those seeking steadier value than the boliviano.

For investors and builders, the significance is not only policy-level. It’s a signal that stablecoins are being pulled into mainstream economic coping mechanisms—especially in markets where official access to dollars is constrained and parallel market spreads are widening. What remains uncertain is how quickly the framework could move from proposal to implementation, and how regulators will operationalize AML requirements in practice.

Miners’ AI strategy meets governance and insider-trading questions

In a separate thread of crypto industry news, investor attention is increasingly turning from miners’ AI aspirations to the question of execution and accountability. Earlier coverage from Cointelegraph noted that investors are scrutinizing insider stock sales at Bitcoin miners pursuing AI infrastructure strategies as enthusiasm for the theme cools and governance concerns come into focus (Bitcoin miners’ AI pivot faces investor scrutiny over insider sales).

According to Blocksbridge Consulting, executives at TeraWulf, Cipher Digital, Riot Platforms, and Core Scientific have disclosed stock sales in recent months. Many of these sales were reportedly made under prearranged Rule 10b5-1 trading plans. In addition, Blocksbridge said that some strategic investors also reduced their holdings, including Tether—reported to have cut its stake in Bitdeer after Bitdeer’s AI-related rally.

The scrutiny is landing at a time when the AI narrative may not be performing as strongly as investors expected. Cointelegraph cited that the TEM AI Infrastructure Growth Index has fallen 16% over the past month, suggesting the “AI tailwind” for infrastructure-adjacent equities has cooled.

Blocksbridge’s framing for why this matters is straightforward: investors are looking beyond the AI growth story to evaluate whether the benefits of miners’ strategic pivots are translating into value for public shareholders. In other words, it’s not enough to adopt AI infrastructure as a theme—markets want clarity on timing, cash flows, and whether management’s incentives align with long-term shareholder outcomes.

CleanSpark’s lease deal signals a shift toward contracted infrastructure revenue

Even with investor scrutiny in the background, not all AI infrastructure developments are treated equally. CleanSpark’s stock surge—reported as up as much as 22%—followed its signing of a 20-year data center lease in Georgia, according to Cointelegraph coverage (CleanSpark shares jump after Georgia data center lease).

The agreement covers a 175-megawatt data center at the company’s Sandersville, Georgia campus. Cointelegraph reported the lease was signed with an undisclosed investment-grade global technology company, with the tenant expected to install computing equipment at the site. Phased deliveries are expected to begin in the fourth quarter of 2027.

CleanSpark could see substantial contracted revenue: Cointelegraph said the deal could generate up to $6.6 billion in contracted revenue. If the customer exercises two five-year extension options, the total value could reportedly reach $11.6 billion. Deals like this can be especially important for miners because they may provide more predictable income streams beyond operating-margin swings tied to mining economics.

The context also matters. Cointelegraph noted that the agreement reflects a broader trend among publicly traded miners seeking new revenue sources as post-halving mining conditions remain under pressure. While many peers have reduced Bitcoin holdings to bolster liquidity, CleanSpark has largely remained a net accumulator, though it reportedly sold some BTC earlier this year to fund operations. The company’s stance is closely watched because it influences how aggressively it can invest while still maintaining exposure to Bitcoin’s upside.

For readers following the sector, the key is to watch whether more miners can structure similar long-term contracts with clear timeline milestones—and whether these assets produce measurable diversification benefits in financial results, not just in announcements.

Bitmine adds $45.7 million from Ethereum staking and validation

On the business side of crypto infrastructure, Bitmine Immersion Technologies reported financial performance driven heavily by staking. According to Cointelegraph, the company generated $45.7 million in revenue from Ethereum staking and validation last quarter (Bitmine generated $46m from Ethereum staking last quarter).

For the three months ended May 31, Ethereum staking represented 98% of Bitmine’s revenue. By comparison, Cointelegraph reported $624,000 from self-mining Bitcoin and $168,000 from consulting services.

The results build on Bitmine’s staking platform roadmap. Cointelegraph noted that Bitmine launched MAVAN in March, an institutional Ethereum staking platform built on the acquisition of validator operator Pier Two Holdings. The company said it has staked roughly 85% of its Ether holdings—about 4.9 million ETH.

Chairman Tom Lee said Bitmine now stakes more Ether than any other entity and projects annualized staking rewards of $284 million once its holdings are fully staked through MAVAN and its partners. Even without the narrative excitement that often surrounds mining-related headlines, staking operations can offer a different kind of resilience: fees and staking participation can remain a core revenue engine when price volatility affects trading activity.

What to monitor next is how quickly Bitmine can reach full staked exposure through MAVAN and partner channels, and whether the company’s reward outlook holds as network conditions and competitive staking dynamics evolve.

Across these stories, the common thread is how crypto infrastructure is adapting to real constraints—whether that’s dollar shortages driving stablecoin payments, or miners searching for steadier cash flows through contracted computing capacity, or staking providers scaling revenue through platform distribution. The near-term question for market participants is which of these approaches translate into durable compliance, predictable income, and shareholder-aligned governance rather than just short-lived momentum.

Galaxy Digital has secured a 15-year naming rights deal with Texas Tech, renaming the university’s football stadium “Galaxy Stadium” starting with the 2026 season. The announcement also positions Galaxy as Texas Tech Athletics’ official data center and digital assets partner, with both sides pointing to collaboration on student-athlete NFT and broader AI initiatives.

Under the partnership, the venue’s new name will debut on Sept. 5, when Texas Tech opens its season against Abilene Christian. Financial terms were not disclosed.

Key takeaways

• Galaxy Digital signed a 15-year naming rights agreement that renames Texas Tech’s stadium “Galaxy Stadium” beginning in 2026.
• Galaxy will serve as Texas Tech Athletics’ official data center and digital assets partner.
• The parties plan to explore student-athlete name, image and likeness (NIL) opportunities alongside AI initiatives and workforce development.
• Galaxy’s move extends its presence in West Texas, where it operates the Helios data center campus with approved capacity aimed at AI and high-performance computing.

Why this deal goes beyond branding

Naming-rights arrangements are nothing new in collegiate sports, but Galaxy’s agreement is structured to tie its infrastructure and digital assets capabilities directly to athletics operations. Alongside the stadium name change, Texas Tech Athletics will adopt Galaxy as its “official data center and digital assets partner,” creating a platform for technical collaboration that can affect everything from data handling to AI-focused projects.

The partnership framework also highlights business development goals beyond entertainment value. Texas Tech and Galaxy said they plan to collaborate on student-athlete NIL opportunities, artificial intelligence initiatives, and workforce development programs. For investors and builders, that matters because it suggests Galaxy is not just pursuing consumer-facing visibility; it is seeking real-world integration with institutional workflows and talent pipelines.

The 2026 kickoff date gives both sides a runway to align on technical and program requirements ahead of the Sept. 5 season opener against Abilene Christian.

Galaxy’s West Texas footprint meets Texas Tech

The new agreement expands Galaxy’s reach in West Texas, where it already operates the Helios data center campus in nearby Dickens County, about 60 miles east of Lubbock.

According to Galaxy’s announcement, the Helios site has 1.6 gigawatts of approved capacity for artificial intelligence and high-performance computing (HPC). That approved power is a key detail for anyone tracking the race among infrastructure providers: data centers increasingly need both power availability and AI-ready capacity, and partnerships like this can help anchor long-term demand for compute capacity and related services.

While naming rights primarily function as marketing, attaching the agreement to data center and digital assets partnership suggests the collaboration could leverage that approved compute posture toward athletics-related research, analytics, and AI initiatives—especially as universities look for scalable technology partners.

Texas continues to court crypto infrastructure and policy

This stadium deal lands amid a broader push by Texas to become a central destination for crypto-adjacent activity, pairing large-scale mining and digital infrastructure growth with political momentum and pro-crypto policy moves.

Texas already hosts several prominent mining and infrastructure operators, including Riot Platforms, Cipher Mining, Core Scientific, CleanSpark, IREN and Hut 8.

Recent investment activity cited in earlier coverage underscores the state’s pull. In February, Canaan acquired a 49% stake in three operating Texas mining facilities from Cipher Mining for nearly $40 million, as reported by Cointelegraph (see original report). Earlier in the same month, MARA Holdings announced plans to acquire a 2-gigawatt powered site in Texas to develop a digital infrastructure campus supporting both HPC and Bitcoin mining, according to Cointelegraph’s coverage (see original report).

Beyond industry investment, political spending has also been a notable component of the Texas story. In May, industry-affiliated political action committees spent more than $10 million supporting candidates in Texas congressional primary runoffs, and Cointelegraph reported that all six backed candidates won (see original report).

Policy developments have reinforced the same direction. Last year, Gov. Greg Abbott signed legislation creating the Texas Strategic Bitcoin Reserve, following the enactment of Texas Senate Bill 21. Cointelegraph previously reported that state officials began transitioning reserve holdings from a spot Bitcoin ETF to directly custodied bitcoin in May (see original report). The bill history is maintained by the Texas Legislature (Texas Legislature).

What to watch next

The Galaxy–Texas Tech partnership raises practical questions that will matter once the agreement moves from announcement to execution: how the NIL and AI programs are designed, what role digital assets will play in athletics-specific workflows, and whether Helios’s approved AI/HPC capacity translates into measurable university and sports-related deployments. With the stadium renaming scheduled for the Sept. 5 opener, the next signposts to track are program milestones and the rollout timeline for the planned NIL, AI, and workforce initiatives.

The FTX Recovery Trust says its next round of creditor repayments will begin on July 31, with approximately $900 million earmarked for eligible claimants. In a notice published Friday, the trust said funds will be distributed to creditors under the plan’s “convenience” and “non-convenience” claim categories.

For eligible creditors, payments are expected to be sent to BitGo, Kraken, or Payoneer accounts, with transfers taking one to three business days after the July 31 start date. This will be the fifth distribution effort under the recovery plan.

Key takeaways

• The FTX Recovery Trust plans a new creditor payout starting July 31, totaling about $900 million.
• Claimants can receive reimbursement via BitGo, Kraken, or Payoneer, typically within one to three business days after July 31.
• “Convenience” claims under $50,000 are set to receive 120% reimbursement under the recovery plan, while other claims are expected at roughly 103–105%.
• The payment marks the fifth payout round, following earlier large distributions since FTX filed for bankruptcy in November 2022.

What the July 31 distribution covers

According to the notice, the July 31 distribution will cover claimants in two groups: “convenience and non-convenience classes” included in the recovery plan. The trust estimates the payout will be “about $900 million” to creditors through the reimbursement framework laid out for different claim sizes and circumstances.

The structure remains tied to reimbursement levels set by the plan. Creditors with convenience claims under $50,000 are scheduled to be reimbursed at 120%. For other eligible claimants, the distribution is described as falling in the 103–105% range.

Progress since bankruptcy filing

FTX filed for bankruptcy in November 2022 as the broader crypto market downturn triggered waves of exchange failures and Chapter 11 filings. Since then, the Recovery Trust has pushed forward a multi-stage repayment process.

Earlier distributions included a March payout of $2.2 billion, referenced in earlier reporting by Cointelegraph. That round contributed to an overall payout figure of about $10 billion paid out to creditors, based on the trust’s cumulative repayment progress described in the same reporting context.

With the July 31 distribution, the trust is effectively continuing a steady cadence—one that matters for creditors because it converts long-running claims into liquid reimbursements over time, reducing uncertainty even as final amounts and timing remain contingent on the recovery plan’s execution.

FTX announces fifth distribution (PR Newswire)

Legal and settlement updates around the collapse

While the trust works through distributions, litigation tied to FTX’s collapse continues to run in parallel. Earlier reporting from Cointelegraph noted that Fenwick & West, the law firm that advised FTX before its collapse, agreed to pay $54 million to settle a class action lawsuit brought by former users.

Cointelegraph also reported that a separate lawsuit sought $525 million, filed days earlier by a group of 20 FTX users alleging the law firm’s role in the failure. These disputes underscore that FTX’s bankruptcy is not only about liquidation and repayment mechanics—it is also entangled with contested responsibility among parties involved in the broader ecosystem of the exchange’s operations and aftermath.

Cointelegraph on the $54 million Fenwick & West settlement

Cointelegraph on the $525 million lawsuit

Clemeny prospects for Sam Bankman-Fried face new political headwinds

Separately from the repayment schedule, the fate of former FTX CEO Sam “SBF” Bankman-Fried remains a major ongoing storyline. Bankman-Fried was found guilty and sentenced to 25 years in prison in 2024 for his role in the misuse of customer funds, and his appeal was denied last month after a federal court upheld a New York court ruling, as covered by Cointelegraph.

Cointelegraph also reported that Bankman-Fried applied for a pardon from Donald Trump. Trump indicated in a January interview that he did not plan to grant such clemency. In this week’s development, the US Senate unanimously adopted a resolution opposing clemency for Bankman-Fried.

Although the resolution cannot stop the president from issuing a pardon if he chooses to do so, it signals bipartisan resistance within Congress—an important political factor for anyone tracking how public pressure and legislative sentiment might shape clemency decisions.

The clemency debate has also been tied by lawmakers to broader concerns about how high-profile crypto-related criminal cases are treated. Cointelegraph reported that criticism has extended to Trump’s decision to pardon former Binance CEO Changpeng Zhao following a UAE investment into Binance using a stablecoin linked to World Liberty Financial, a project associated with the Trump family business.

Cointelegraph on the denial of SBF’s appeal

Cointelegraph on SBF’s clemency bid

Cointelegraph on the Senate resolution opposing clemency

For creditors and market participants, the July 31 distribution date is the immediate practical milestone—something to watch for in payment confirmations on supported platforms. At the same time, the political fight over clemency for Bankman-Fried remains unresolved, and developments there could still influence the broader public narrative around FTX’s fallout and its lingering legal and regulatory consequences.

The FTX Recovery Trust says its next wave of payments to creditors tied to the defunct exchange will begin on July 31, with about $900 million earmarked for eligible claimants. The distribution is the fifth attempt under the trust’s court-approved recovery plan, continuing a multi-year process that has already returned roughly $10 billion since FTX filed for bankruptcy in November 2022.

In a notice released Friday, the trust said creditors in the plan’s “convenience and non-convenience classes” can expect payouts through BitGo, Kraken, or Payoneer accounts. Payments are scheduled to start on July 31 and are expected to land within one to three business days for those who are eligible.

Key takeaways

• The FTX Recovery Trust plans a new distribution of about $900 million starting July 31 for “convenience and non-convenience” creditor groups.
• Eligible creditors can receive funds via BitGo, Kraken, or Payoneer accounts beginning July 31, with transfers expected within one to three business days.
• Under the recovery plan, convenience claims under $50,000 are set to be reimbursed at 120%, while other claims are projected at roughly 103%–105%.
• The July 31 payment marks the fifth distribution since the bankruptcy filing, following earlier payouts including a $2.2 billion distribution in March.

Next FTX creditor payout set for July 31

According to the Friday notice, the upcoming distribution will send approximately $900 million to creditors classified under the recovery plan’s two groups: “convenience and non-convenience classes.” The trust did not indicate in the notice an alternate schedule for different claimants, instead tying the start of distribution to a single date—July 31—with the practical timeline depending on the payment rails used.

For claimants using BitGo, Kraken, or Payoneer, the trust said funds should be available within one to three business days after the July 31 start. This matters for creditors because the trust’s distributions have become a key milestone for claimants watching for liquidity after years of legal and administrative delays following FTX’s collapse.

How reimbursement levels work under the plan

The notice also reiterated the recovery plan’s reimbursement framework. Convenience claims under $50,000 are expected to receive 120% reimbursement, while non-convenience claims are projected to receive a distribution in the 103%–105% range.

That structure reflects a common approach in insolvency distributions: smaller claims are often treated more favorably to reduce friction and ensure faster, simpler resolution for retail-sized creditors. Larger claims typically receive slightly less, reflecting the available asset pool and the plan’s calculations across categories.

What has already been paid since FTX’s bankruptcy

The July 31 distribution will be the fifth creditor payment attempt connected to the trust’s recovery process. After a March distribution of $2.2 billion, the trust has paid out about $10 billion in total since FTX entered bankruptcy in November 2022.

Earlier coverage from Cointelegraph noted that the March distribution was part of the trust’s continuing efforts to unwind the exchange’s estate during a period when the broader crypto market was still reeling from the 2022 downturn. When FTX collapsed, it triggered multiple Chapter 11 filings across the sector, as liquidity stress and customer withdrawals rippled through the industry.

As payments continue, creditors will likely be attentive to whether later distributions match the same reimbursement percentages—or if the economics of recovery change as the trust works through remaining assets, legal complexities, and administrative processes.

Ongoing legal fallout and clemency debate

FTX’s recovery story has continued alongside criminal proceedings involving former leadership. Former FTX executives including CEO Sam “SBF” Bankman-Fried and Ryan Salame—co-CEO of FTX’s Bahamian affiliate—remain in federal prison connected to the misuse of customer funds.

Bankman-Fried, who pleaded not guilty to criminal charges, was found guilty and sentenced to 25 years in prison in 2024. Cointelegraph reported that his appeal to overturn his conviction and sentence was denied last month after a federal court upheld the prior New York ruling.

Alongside the court process, Bankman-Fried had sought clemency. Before the appellate decision became public, he applied for a presidential pardon from Donald Trump, and Trump indicated in a January interview he did not plan to grant such a request, according to reporting by The New York Times. Even so, this week the US Senate adopted a resolution opposing clemency for the former FTX CEO, and described bipartisan concern over the prospect of a pardon for a convicted felon.

Cointelegraph has also reported that lawmakers criticized Trump’s pardon of former Binance CEO Changpeng Zhao, adding to the broader political friction surrounding clemency decisions in high-profile crypto cases.

Meanwhile, the civil side of the fallout has continued. In May, the law firm Fenwick & West—according to coverage by Cointelegraph—agreed to pay $54 million to settle a class action lawsuit brought by former users. Cointelegraph also reported earlier that a group of 20 FTX users sued Fenwick & West for $525 million shortly before that settlement agreement.

With another distribution scheduled for late July, creditors will have a near-term datapoint for how the recovery plan is progressing. The next question is whether future distributions will continue on a similar cadence and whether remaining legal and asset-related variables—rather than payout mechanics—will ultimately determine how quickly the trust can close out the recovery process.

Visa has launched an enterprise stablecoin platform that allows banks, fintech companies and payment providers to manage digital dollars through a single system. 

The Visa Stablecoin Platform, or VSP, will initially support Open USD, the stablecoin introduced by Open Standard in June.

The platform gives institutions access to tools for minting, redeeming, storing and transferring Open USD. Visa has also added Wallet-as-a-Service infrastructure, blockchain connectivity and its existing risk and security systems. The company said clients can use the service alongside its traditional payments network rather than replacing their current infrastructure.

Galaxy Digital has signed a 15-year agreement to rename Texas Tech’s football venue Galaxy Stadium from the 2026 season.

According to Friday’s announcement, the deal also makes Galaxy the official digital assets and data center partner of Texas Tech Athletics. Financial details were not disclosed.

The renamed stadium will host its first game on Sept. 5, when Texas Tech opens the season against Abilene Christian. Alongside the naming rights, Galaxy and the university plan to work on artificial intelligence projects, workforce training and opportunities involving student-athletes’ names, images and likenesses.

Galaxy already operates the Helios data center campus in Dickens County, about 60 miles east of Lubbock. Company figures show the site has approval for 1.6 gigawatts of capacity dedicated to artificial intelligence and high-performance computing.

Through the Texas Tech agreement, Galaxy is connecting its West Texas infrastructure business with one of the region’s most visible college sports programs. The announcement did not provide details on the planned AI projects, training programs or potential payments involving athletes.

Galaxy links its data center business with Texas Tech football

Once the 2026 season begins, Galaxy’s name will appear on a stadium used by a university competing in the Big 12 Conference. The company’s role will also extend beyond branding because the agreement covers digital assets, data centers and joint university programs.

Located in nearby Dickens County, the Helios campus gives Galaxy an existing operational base close to Texas Tech. Galaxy has positioned the facility for AI and high-performance computing workloads, while its approved power capacity places the site among the region’s large digital infrastructure developments.

The Texas Tech deal follows continued investment in computing facilities across the state. Texas already hosts Bitcoin miners and infrastructure operators including Riot Platforms, Cipher Mining, Core Scientific, CleanSpark, IREN and Hut 8.

In February, mining hardware maker Canaan purchased a 49% interest in three operating Texas mining sites from Cipher Mining for almost $40 million. Earlier this month, MARA Holdings announced plans to acquire a powered site with two gigawatts of capacity in Texas for a campus supporting high-performance computing and Bitcoin mining.

Texas attracts more crypto investment and political spending

Outside infrastructure development, crypto-linked political groups have increased their spending in Texas elections. Industry-affiliated political action committees spent more than $10 million in May on candidates contesting congressional primary runoffs, according to the supplied report.

All six candidates supported by those groups won their races, the report stated. The spending added another layer to the industry’s activity in a state already attracting miners, data center developers and digital asset companies.

Texas officials have also adopted policies involving Bitcoin. Last year, Gov. Greg Abbott signed legislation establishing the Texas Strategic Bitcoin Reserve.

In May, state officials began moving the reserve’s exposure away from a spot Bitcoin exchange-traded fund and toward directly custodied Bitcoin, according to the report. The transition placed Texas among the US states using public policy to hold Bitcoin directly rather than relying only on a regulated investment product.

Galaxy’s stadium agreement now adds a major college sports partnership to that activity. While the 15-year term gives the company a long presence at Texas Tech, neither party has disclosed the contract’s value or a timetable for the planned student and workforce programs.