Crypto World
Law Enforcement and Catholics Urge Changes to CLARITY Act
A set of U.S. law enforcement groups and a coalition of Catholic organizations have urged caution as the CLARITY Act (the Blockchain Regulatory Certainty Act, part of the broader legislation) advances toward a key House hearing scheduled for July 17. In separate letters sent this week to senior White House officials, the organizations argued that certain provisions—particularly Section 604—could unintentionally create oversight gaps affecting investigations into illicit financial activity.
The letters arrive as the bill continues its legislative path. The CLARITY Act cleared the Senate Banking Committee in May, reportedly with most Democrats voting against it, and the measure has faced pushback from parts of the banking sector that say it may enable crypto firms to offer stablecoin-related yields without the same regulatory treatment applied to traditional financial institutions. For compliance stakeholders, the central question is whether the legislation clarifies responsibilities—or narrows enforcement reach in ways that complicate AML and sanctions compliance.
Key takeaways
- Law enforcement groups warn that Section 604 could create “oversight gaps” that hinder probes into crimes including money laundering and other illicit activity.
- Human trafficking advocates contend that provisions in Section 604 may increase regulatory ambiguity, potentially making monitoring of abuse-related illicit finance more difficult.
- Crypto industry policy officials argue Section 604 narrowly prevents non-custodial software developers from being misclassified as money transmitters.
- The bill’s hearing on July 17 is expected to focus on whether the statute best balances regulatory certainty with accountability, AML/KYC alignment, and investigative authority.
Law enforcement letters to White House officials
According to the letters, four law enforcement organizations—including the National District Attorneys Association, the National Association of Assistant United States Attorneys, the International Association of Chiefs of Police, and the National Sheriffs’ Association—contacted acting Attorney General Todd Blanche and White House digital assets adviser Patrick Witt regarding the CLARITY Act’s likely operational impact on enforcement.
The groups stated that regulatory certainty for digital assets should not come at the expense of accountability, transparency, victim protection, or public safety. In their view, the specific design of Section 604 risks weakening longstanding compliance and investigative frameworks, including requirements connected to KYC and anti-money laundering (AML).
The law enforcement organizations’ concern focuses on how Section 604 treats certain categories of participants and activities. The provision addresses the regulatory framework for digital asset service providers and seeks to protect non-controlling developers, open-source contributors, self-custody tools, and certain decentralized finance (DeFi) infrastructure from being automatically classified as money transmitters.
The letters distinguish between writing or publishing software code—described as not the target of their criticism—and the scope of exemptions related to transactions they believe could interfere with criminal investigations. They argued that broad exemptions may shield individuals or entities whose activity facilitates digital-asset movement, creating obstacles to oversight and weakening investigative authorities used by law enforcement.
“Our concern is with broad exemptions that may shield individuals or entities whose activities facilitate the movement of digital assets, create obstacles to legitimate oversight, or weaken longstanding investigative and enforcement authorities relied upon by law enforcement.”
Section 604’s scope contested: enforcement risk vs. misclassification prevention
In response to the law enforcement objections, Lindsay Fraser, chief policy officer at the Blockchain Association, said the letters reflect a misunderstanding of what Section 604 accomplishes. She characterized the provision as doing a limited, technical job: ensuring that non-custodial software developers are not misclassified as money transmitters when they do not custody assets or control transactions.
“It does not immunize criminals. It does not limit sanctions enforcement. It does not stop prosecutions for money laundering, fraud, or terrorist financing.”
For compliance and legal teams, the dispute underscores a practical policy challenge: how lawmakers should calibrate liability and regulatory status for participants across the digital-asset stack. Section 604 is designed to provide clearer boundaries for developers and infrastructure contributors, but critics worry that real-world illicit finance frequently relies on networks where the line between “developer,” “infrastructure,” and “facilitator” can be difficult to operationalize.
This is especially salient for institutions that must perform AML/KYC controls and evaluate counterparties under evolving U.S. expectations. If exemptions are interpreted too broadly, regulators and supervised entities may struggle to determine which actors remain subject to the same compliance obligations, potentially affecting monitoring coverage, suspicious activity reporting workflows, and sanctions-risk management.
Human trafficking coalition raises a rights-and-abuse lens
A separate letter from the Alliance to End Human Trafficking—founded by U.S. Catholic Sisters—told senators that Section 604 may create “broad carveouts and regulatory ambiguities” that could make it harder to responsibly monitor illicit financial activity tied to trafficking, organized crime, child exploitation, and other forms of abuse, including sanctions evasion.
The coalition’s framing places the bill within a broader compliance and human-rights context, asserting that financial-system design should be measured by its effectiveness in safeguarding human life and dignity, not only by innovation outcomes. That emphasis aligns with the perspective of victim-centered enforcement priorities, where investigators depend on clear obligations and predictable compliance duties to trace illicit proceeds.
“The test of any financial system is not simply whether it generates wealth or innovation, but whether it safeguards human life and dignity.”
In contrast, a key proponent of the CLARITY Act, Senator Cynthia Lummis, took an opposing view. She argued publicly that regulatory ambiguity harms builders and benefits criminals, and that the measure draws an important line: writing code is not money transmission. Her statements suggest the bill is intended to reduce legal uncertainty for legitimate developers while closing gaps she believes bad actors exploit.
Why the July hearing could matter for regulated entities
The House hearing scheduled for July 17 will likely focus on the same central tension raised in both letters: whether Section 604 appropriately narrows the definition of money transmission liability for non-custodial participants, or whether its exemptions expand in practice to the point that they complicate AML/KYC enforcement and related investigative authority.
While the debate is framed as a question of regulatory certainty, institutional impact will depend on how supervised firms and enforcement agencies interpret and operationalize the statutory language. The concerns raised by law enforcement organizations point to potential friction in illicit-activity probes, including the ability to pursue certain investigative pathways or obtain cooperation that relies on regulated status. Meanwhile, industry policy arguments emphasize that the bill is meant to prevent misclassification and reduce overreach toward software development and decentralized infrastructure.
Because digital-asset compliance regimes in the U.S. are also shaped by enforcement practice and interagency expectations—alongside parallel international approaches such as the EU’s MiCA framework—U.S. legislation that clarifies who counts as a covered “money transmitter” or analogous regulated actor can have cross-border ramifications. For example, the way exemptions are structured may affect how firms design compliance programs for U.S. users, assess jurisdictional risk, and document governance responsibilities for technology providers.
Unresolved issues remain: the exact boundaries of “non-controlling” developers, how “self-custody tools” and DeFi infrastructure are treated under real enforcement scenarios, and whether the legal certainty promised by the bill will translate into consistent compliance obligations for institutions that must detect, prevent, and report financial crime.
Closing perspective
As the CLARITY Act approaches its July 17 House hearing, the most consequential question for compliance and legal stakeholders is how Section 604 will be interpreted in practice—especially regarding the line between non-custodial technical contribution and activity that can be viewed as facilitating transactions. The outcome could influence how firms operationalize AML/KYC controls and how regulators assess responsibility across the digital-asset ecosystem.
Bitcoin (BTC) started the week in positive territory, reclaiming $65,000 and extending its gains on Tuesday, crossing $66,000 and reaching an intraday high of $66,923.
However, the flagship cryptocurrency failed to cross $67,000 as another escalation in hostilities between the US and Iran raised oil prices and dampened optimism.
Bitcoin Stumbles After Fresh Geopolitical Headwinds
Bitcoin (BTC) almost breached the $67,000 mark before sellers stepped in and drove prices lower. Price action is still being dictated by three key drivers: US-Iran tensions, the Federal Reserve meeting scheduled for July 28 and 29, and risk appetite. The immediate reason for BTC’s latest downturn is fresh tension between the US and Iran.
The ongoing geopolitical situation has adversely impacted global markets and investor sentiment. Oil prices briefly declined thanks to a fragile truce between the warring nations.
However, the latest round of escalatory actions has pushed prices higher again. US Crude rose nearly 3% to $84.70 per barrel as supply fears, amid the prospect of another closure of the crucial Strait of Hormuz, resurfaced. Rising oil and energy costs could push inflation higher. A report in Reuters also confirmed a damaged tanker near the Strait of Hormuz and warned of delays in Saudi crude shipments. Houthi forces have also issued threats to ships in the area.
Clarity Act Progress And Sustained ETF Inflows Behind Bitcoin Push Above $65,000
Bitcoin (BTC) pushed higher on Tuesday after the Trump Administration reached an agreement on comprehensive federal ethics rules. The rules could also apply to President Donald Trump’s crypto interests, an issue raised repeatedly by Senate Democrats. However, it remains unclear how the restrictions will be imposed. Democratic senators have pushed for tighter restrictions on political crypto dealings, with Senator Elizabeth Warren stating that a bill that does not address the president’s links to the crypto industry would be worthless.
Reports of the agreement also pushed crypto-linked stocks higher, with Coinbase and Circle shares surging nearly 10%.
Meanwhile, spot Bitcoin ETFs extended their inflow streak for a sixth day, recording $203.2 million in inflows on Tuesday, according to Coinglass data. Total inflows over the past six days currently stand at $930.2 million. Additionally, over $223 million was liquidated in 24 hours, of which $181 million were short positions.
Bitcoin Price Action
Bitcoin (BTC) briefly pushed above the upper Bollinger band when it crossed $66,000, indicating substantial buying pressure. However, with sellers dominating around $67,000, the flagship cryptocurrency has lost ground over the past two sessions.
BTC reached an intraday high of $66,923 on Tuesday but failed to cross the resistance at $67,000. As a result, it declined to $66,086 and has extended its decline during the ongoing session, and currently trades around the $65,700 mark.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
[PRESS RELEASE – Willemstad, Curaçao, July 23rd, 2026]
Leading crypto entertainment platform 1win announces the launch of its new X.com Ambassador Program, inviting content creators to join the brand’s growing global ambassador network and help shape conversations across the crypto and online entertainment communities.
As social platforms continue to advance in crypto adoption, the initiative is designed to strengthen 1win’s online presence by partnering with creators who can authentically engage their audiences and contribute to discussions around cryptocurrencies, crypto entertainment, blockchain, sports, Web3, and more.
Successful applicants will join 1win’s global ambassador ecosystem that includes internationally recognized names such as Luis Suárez, Tyga, Gable Steveson, and other members of the 1win family.
The 1win Ambassador Program offers three tracks tailored to different creator profiles:
- Brand Ambassador for creators who maintain a consistent, positive presence around 1win through regular organic content on X.
- Gambling Ambassador for performance-oriented creators focused on introducing new users to the platform through their content.
- Streaming Ambassador for streamers who showcase and promote 1win during their live broadcasts.
To support collaboration and community building, all ambassadors will be coordinated through a dedicated Discord server, where participants will receive campaign updates, creative guidance, exclusive opportunities, and direct communication with the 1win team.
Applications for the program are now open to active creators interested in becoming part of the 1win ecosystem and contributing to the brand’s continued global growth.
About 1win
Founded in 2016, 1win is a crypto entertainment platform in the global gaming industry. Operating across Asia, Latin America, and Africa, 1win offers a wide range of entertainment products adapted to regional audiences. The brand has active collaborations with international public figures, including football legend Luis Suarez, martial artist Jon Jones, and Olympic champion and UFC fighter Gable Steveson. In 2026, 1win welcomed rapper Tyga and UFC legend Ilia Topuria as members of the 1win VIP community.
The post 1win Invites Creators to Join Its Global Ambassador Network appeared first on CryptoPotato.
XRP (XRP) price is holding just above $1.13 after a mild pullback, keeping a bullish chart structure alive even as institutional demand shows signs of cooling.
The token has slipped since July 21, yet the drop looks orderly rather than panicked. That calm hides a sharper tension building between the price chart and the money flowing into XRP funds.
XRP Builds a Bullish Cup and Handle as Selling Fades
Since early July, XRP price has traced a cup and handle, a rounded recovery followed by a small drift lower that often forms before a breakout. The current consolidation, running since July 21, fits neatly as the handle.
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Crucially, volume has thinned during this recent slide. Falling sell volume suggests the pullback is a pause rather than a fresh wave of exits, which keeps the XRP breakout case intact.
Still, a clean chart means little if the buyers behind it start to walk away.
XRP ETF Inflows Look Green, but the Trend Is Quietly Fading
However, the flow data carries a subtle warning that is easy to miss. On the surface, XRP ETF inflows still show green, with fresh money arriving every month since launch. Most readers would see that and assume steady strength.
Look closer at the pace, though, and a different picture emerges. Monthly inflows climbed from $81.59 million in April to a $131.94 million peak in May, then fell by more than half to $59.46 million in June.
So far in July, the funds have drawn just $12.43 million, the weakest month on record. The numbers stay positive, yet the steady slide suggests institutional buyers may be quietly stepping back, a sign of cooling XRP ETF demand.
Fund flows, however, are only half the demand picture. On-chain holder behavior hints at the same quiet shift.
Hodler Net Position Change Echoes a Familiar Warning
The Hodler Net Position Change, a metric that tracks whether long-term holders are adding or trimming their coins, is flashing a familiar signal. Back on June 22, it hit one of its highest readings.
From there, the metric fell steadily into July 1, and XRP price corrected alongside it. The XRP price fell from $1.13 to $1.05 during that time.
Then, as XRP holders began adding again, the price recovered, so the two have moved closely together.
Since July 19, the metric has turned lower once more, easing from about 231 million to roughly 226 million XRP. If that link holds, the price could fade the same way.
That leaves the chart to settle the argument.
XRP Price Levels to Watch Now
With the current swing still forming, the key levels come from the July 1 to July 13 move. The first hurdle sits at $1.15, the 0.618 Fibonacci zone, a strong technical level that marks a common pullback point within a prior move.
A clean break above $1.15 would crack the handle and put the cup neckline near $1.16 in play. Above that, $1.18 and $1.21 open up for XRP price. Still, XRP has a history of failed cup formations, so a breakout needs a decisive daily close, not just a wick.
On the downside, a drop under $1.13 exposes $1.12, then the $1.09 support. A fall below $1.05, the cup low, would void the pattern entirely. For now, $1.15 separates a fresh push toward $1.21 from a slide back to $1.09.
The post Bullish XRP Chart Clashes With an ETF Warning, Who Wins? appeared first on BeInCrypto.
AFX Trade, BSquaredNetwork, and Verus have all fallen victim to exploits over the last 24 hours.
In what many are calling “Hackers Day,” the three protocols have collectively lost over $35 million in crypto assets.
Crypto Industry Hit With Three Separate Hacks
PeckShieldAlert said it detected an attack on Arbitrum-based protocol AFX on July 22, with estimated losses of about $24.15 million USDC. The on-chain security firm added that the exploiter bridged the stolen funds from Arbitrum to Ethereum, after which they swapped them for 12,467.5 ETH.
Less than an hour later, PeckShieldAlert reported that attackers had drained BSquaredNetwork of $8.59 B2 tokens on BNB Chain, resulting in it losing approximately $3.86 million. The hackers then quickly swapped the tokens for more than 5,000 WBNB, converted them into 1,128 ETH, and bridged the funds out using NEAR Intents. The impact on the market was quick, with B2’s price dropping by over 15% in the aftermath of the exploit.
It doesn’t stop there; blockchain security firm Lookonchain also alerted the public to another incident, this time affecting Ethereum-based cross-chain bridge Verus protocol. In this case, the exploiters made off with $7.55 million.
Additionally, the latest exploit comes about two months after Verus lost roughly $11.58 million in a separate incident. Blockaid said that the July attack seems to be related to the previous exploit, describing the two as involving the same bridge contract, same entry path, and same bug class.
Monahan Questions AFX’s Security
Steven Goldfeder, a contributor at Arbitrum, has confirmed that the compromised bridge was operated independently by AFX and was not one of its native bridges.
Meanwhile, there seems to be a storm brewing elsewhere, with on-chain security expert Taylor Monahan questioning why the AFX bridge had $24 million on it in the first place.
She revealed that she had found some “terrifying” details after going through a recently published audit of the bridge. According to her, the protocol had almost no test coverage, several issues flagged by auditors were acknowledged but never fixed, and the auditors allegedly couldn’t even fully review the code because they received only parts of it.
“Honestly, they seem like a super chill team. Ah yeah it’s probably fine we’ll just wait it out and then manually send if we need to,” she wrote.
Monahan says that the biggest red flags were what the technical vulnerabilities revealed about the team’s approach to security, explaining that the situation suggested a culture that didn’t prioritize it.
The post ‘Hackers Day’: 3 Crypto Protocols Drained of $35 Million in 24 Hours appeared first on CryptoPotato.
Kakao Group has partnered with stablecoin issuer Circle to explore payment infrastructure for won-backed stablecoins as South Korea prepares a broader regulatory framework for crypto assets.
On Thursday, the companies announced that Kakao, Kakao Pay and Kakao Bank had signed a strategic memorandum of understanding (MOU) with Circle Internet Group. Under the agreement, the companies will explore ways to connect Circle’s blockchain and global payment infrastructure with Kakao’s consumer platforms and financial services.
The agreement highlights how major South Korean consumer and financial platforms are positioning themselves ahead of expected stablecoin legislation, even before the regulatory framework is finalized.
Under the MOU, the companies plan to examine stablecoin payments, cross-border remittances, merchant settlement and connections between existing financial systems and blockchain networks.
The companies will also consider support for tokenized financial services, but they did not disclose any products or launch timelines.
Cointelegraph reached out to Circle and Kakao Group but did not receive a response before publication.
South Korea’s stablecoin framework
South Korea has been working toward legislation governing won-backed stablecoins as policymakers seek to encourage digital payment innovation while addressing risks related to reserves, redemption and issuer oversight.
The government has been preparing a bill that would establish requirements covering stablecoin issuance, collateral management and internal controls. Lawmakers have also introduced competing proposals as support has grown for won-pegged tokens aimed at reducing reliance on the US dollar.
However, the regulatory process has stalled over disagreements about which institutions should be permitted to issue won-based stablecoins.
The Bank of Korea, the country’s central bank, argued that banks should retain a majority stake in stablecoin issuers, while the Financial Services Commission warned that eligibility limits could restrict competition and innovation.
In its economic growth strategy announced on July 14, the government listed advancing the Digital Asset Basic Act among its priorities for the second half of 2026.
Related: South Korean regulator misses stablecoin bill deadline: What’s next?
Meanwhile, companies and financial institutions have begun testing the technology in South Korea. In April, internet bank Kbank partnered with Ripple to test blockchain-based remittances.
In May, KB Financial Group completed a pilot covering stablecoin issuance, offline merchant payments and cross-border remittances through the Kaia blockchain. The group said it was preparing to introduce stablecoin services once the regulations take effect.
Magazine: Why Australia’s $17B crypto opportunity depends on regulation
Pi Network activated Protocol v25 on July 22, its latest major upgrade of 2026, yet PI stalled below $0.10 after a rally carried the token briefly beyond that level.
The result echoed earlier upgrades. Recent protocol releases drew trader interest but failed to produce a lasting price gain.
Pi Coin’s Rally Stalls Amid Protocol Upgrade
PI slipped to an all-time low of $0.0705 on July 14. It recovered through the following week, briefly spiking to an intraday high of $0.103 on July 19, but failed to hold the level
Buyers positioned into the July 22 upgrade, a dated catalyst that gave the market a clear event to trade around. Both price and volume increased before the release landed.
Pi coin has since eased back toward $0.0918, unable to reclaim the $0.10 level it briefly tagged.
Volume tells the same story. Daily volume rose to $33.7 million on July 20, then fell to about $18.5 million on launch day and has been lower since. Buyer interest thinned as the event passed.
Protocol v24 followed a similar pattern in June. PI posted modest gains ahead of the upgrade, only to resume its downtrend.
Why the Pi Network Upgrade Struggles to Move Price
Protocol v25 introduces BN254 cryptography and Poseidon hashing, the building blocks for building modern zero-knowledge applications. The Pi Core Team also shipped a redesigned mining app for its 60 million Pioneers.
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The improvements are real, yet the price response was muted. The answer lies in broader market forces and PI’s own supply.
Exchange flows show little sign of forced selling. Tracked exchange wallets recorded a net outflow of about 260,000 PI over 24 hours, a minor move against balances near 540 million PI.
The pressure sits further out. According to PiScan, roughly 1.71 billion PI, worth about $157 million, is scheduled to unlock over the next 12 months, with the heaviest single month near 432 million PI in December 2027.
That steady release meets a thin market, capping rallies regardless of upgrade news. The same overhang blunted earlier releases.
Development news drives short-term bounces, while unlock supply sets the ceiling. Whether v25 can convert utility into demand remains the open question for the weeks ahead.
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The post Protocol v25 Goes Live as PI Rally Stalls Below $0.10 appeared first on BeInCrypto.
US spot Bitcoin ETFs recorded $69 million in inflows on Wednesday, extending their inflow streak to seven sessions and bringing total inflows during the period to nearly $1 billion
Coinbase has expanded its Singapore operations with a new office and announced plans to increase its local workforce by about one-third to around 200 employees by the end of 2026.
Summary
- Coinbase plans to increase its Singapore workforce from about 150 to around 200 by the end of 2026.
- The company has opened a new office at One Raffles Quay, with hiring focused on engineering, customer service, relationship management, and institutional sales.
- The expansion comes as Coinbase continues investing in Singapore despite recent global layoffs and fresh pressure on its shares.
According to The Business Times, Nasdaq-listed crypto exchange Coinbase officially opened its new Singapore office at One Raffles Quay on July 22 and plans to grow its local headcount from about 150 employees to around 200 over the next 18 months.
The hiring drive will focus primarily on engineering, customer service, relationship management, and institutional sales, Singapore country director Hassan Ahmed said in an interview with the publication.
The expansion comes as Coinbase continues to strengthen its presence in one of Asia’s most established digital asset markets. Speaking to The Business Times, Ahmed described Singapore as “one of the world’s most trusted financial hubs and one of Coinbase’s fastest-growing international markets.”
“This new office reflects our long-term confidence in Singapore as a strategic hub for innovation, talent, and responsible growth across the Asia Pacific, giving us the resources to work more closely with local authorities, invest in talent, and scale partnerships,” Ahmed said.
The move also stands in contrast to Coinbase’s workforce reductions announced earlier this year. On May 5, the company said it would reduce its global staff by about 14% as part of a cost management effort driven by market volatility and increasing use of artificial intelligence. At the time, Coinbase said it would reorganize teams around AI capabilities while reducing management layers.
Despite those global cuts, Ahmed told The Business Times that Coinbase sees strong long-term opportunities for cryptocurrencies and stablecoins in Singapore and across Asia, supporting the company’s decision to continue hiring in the country.
Singapore remains central to Coinbase’s Asia strategy
Ahmed attributed Coinbase’s continued investment to Singapore’s regulatory clarity and business environment, which he said helped the country establish itself as an early digital asset hub.
According to him, Singapore was “much ahead of other jurisdictions and hubs that were also vying to be digital asset hubs” when the regulatory framework for digital assets was being developed. He also cited the country’s business-friendly operating environment, favorable tax structure, and access to capital as additional reasons behind Coinbase’s expansion.
Coinbase’s relationship with Singapore’s regulators has developed over several years. The company first received a temporary exemption from licensing requirements in March 2020 before obtaining an in-principle approval from the Monetary Authority of Singapore (MAS) in October 2022.
Subsequently, in October 2023, Coinbase secured a full Major Payment Institution license under Singapore’s Payment Services Act, allowing the exchange to operate as a fully licensed digital payment token service provider in the country.
At the time, Coinbase identified Singapore among six priority international markets for its expansion strategy, alongside the European Union, Canada, the United Kingdom, Australia, and Brazil. The company also pointed to Singapore’s growing crypto adoption, noting that the country had become one of the world’s leading digital asset markets.
Investment in Singapore continued after the licensing milestone. In November 2024, Coinbase launched an Engineering Hub in partnership with the Singapore Economic Development Board to support blockchain infrastructure development and local engineering talent. The company said the initiative would help developers build applications for the on-chain economy while strengthening Singapore’s position as a regional technology center.
Coinbase also expanded local payment infrastructure through support for the Singapore dollar-backed stablecoin XSGD in partnership with StraitsX and Coinbase Business, allowing companies to access stablecoin-based payment services.
Institutional demand and tokenization gain momentum
Looking at market demand, Ahmed told The Business Times that accredited and institutional investors have continued increasing their interest in both digital assets and blockchain technology.
He also said tokenization has attracted considerably more attention as governments and regulators introduce frameworks covering digital assets.
As examples, Ahmed pointed to the U.S. GENIUS Act, the European Union’s Markets in Crypto-Assets regulation, Hong Kong’s stablecoin ordinance, and Singapore’s own tokenized Treasury bills pilot alongside its stablecoin regulatory framework.
According to Ahmed, market participants increasingly expect financial markets to operate continuously rather than within traditional business hours.
“Consumers and traders now have an expectation of 24/7 trading markets, and they want to apply this technology to tokenize assets to make them 24/7,” he said. “They also want to use stablecoins to do instant settlement.”
His comments come as tokenized real-world assets and regulated stablecoins continue receiving attention from financial institutions across multiple jurisdictions, with several governments introducing dedicated legal frameworks over the past year.
AI becomes another investment priority
Beyond hiring and digital assets, Coinbase is also exploring how artificial intelligence can be integrated with blockchain technology.
Ahmed told The Business Times that one area under evaluation involves equipping AI agents with stablecoin wallets so they can perform transactions while maintaining transparent on-chain records of their activity. He added that blockchain could provide an auditable record of actions taken by AI systems.
The company is also introducing AI across its internal operations, particularly within engineering teams. Ahmed emphasized, however, that people would continue overseeing important decisions rather than handing complete control to automated systems.
“Digital assets and AI are effectively colliding,” Ahmed said. “We are very excited about the potential of AI.”
Coinbase is pursuing its Singapore hiring plans even as its shares have faced fresh volatility in the United States. On July 22, Coinbase shares dropped roughly 4% after Polymarket reduced the odds of the CLARITY Act passing before the end of 2026 amid disagreements over proposed ethics provisions.
Korbit, South Korea’s first homegrown crypto exchange founded in 2013, now has a new home and its a traditional finance behemoth.
The exchange announced Thursday that it is now part of the Mirae Asset Group family, which reportedly had an AUM of $1 trillion as of May.
The acquiring entity is Mirae Asset Consulting, an affiliate of Mirae Asset Group, which has acquired Korbit’s shares through mandated regulatory reporting procedures, becoming the largest shareholder. The announcement clarified that there are no changes to Korbit Co., Ltd., the corporation that operates Korbit.
The affiliate firm also looks after the group’s hotels and golf course businesses and now reportedly holds a 97.15% stake in Korbit.
For the exchange users, the acquisition by the Mirae affiliate brings no immediate disruption. The exchange said that all services, such as login, trading, deposits and withdrawals, will continue without interruption. User deposits and virtual assets will continue to be held separately from company assets, consistent with South Korea’s Act on the Protection of Virtual Asset Users. Personal data processing also remains unchanged and requires no action from users.
South Korea’s KOSPI index broke through 7,000 points Thursday, July 23, climbing 4.17% to 7,081.21 as tech shares extended a rally fueled by Alphabet’s earnings and a chip sector rebound.
The index failed to hold the same level a day earlier. It closed 0.74% higher at 6,797.70 after paring a 5% intraday surge. Thursday’s advance put the threshold to a fresh test.
KOSPI Rebound Builds on Alphabet Beat
Alphabet reported second quarter revenue of $119.8 billion, up 24% year over year, with Google Cloud growing 82%. The company also raised its capital spending forecast, reinforcing demand for artificial intelligence (AI) infrastructure.
Samsung Electronics and SK Hynix, the KOSPI’s two largest constituents, drove the gains. Both stocks extended last week’s rebound from an earlier AI-driven selloff.
Rising oil prices and lingering Iran-related tension around the Strait of Hormuz, a key shipping route, tempered the rally without derailing it.
Citi Holds Firm on 10,000 Target
The advance follows a note that maintains Citi’s 10,000 price target for the KOSPI. That target implies more than 50% upside from levels the index touched earlier this week.
Citi analysts called the recent pullback a potential buying opportunity, pointing to technical profit-taking rather than a shift in fundamentals.
The KOSPI has fallen as much as 28% from its June record high, part of a technical bear market that has triggered multiple circuit breakers and sidecars this year.
Thursday’s break above 7,000 still needs to hold. Wednesday’s reversal at the same level shows how fast the rally can fade, leaving open whether the month’s selloff has ended or just paused.
The post KOSPI Reclaims 7,000 as Citi’s 10,000 Target Gathers Steam on AI Rebound appeared first on BeInCrypto.
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