Crypto World
Ondo Finance hit by corporate control fight as founder’s mother seeks to oust CEO
According to the complaint, Allman appointed herself to the board, adopted an interim policy allowing ordinary business operations to continue, reaffirmed De Bode as president and requested basic corporate information, including a shareholder list, while expressing a desire to work collaboratively.
The estate said those efforts failed after De Bode and the company’s outside counsel refused to recognize her actions or provide the requested corporate records. Kathleen Allman subsequently expanded the board, appointed new directors and, at a July 24 board meeting, voted to remove De Bode from all company positions while appointing herself chair and interim CEO.
The filings characterize Kathleen Allman’s leadership as transitional rather than permanent, arguing that her objective is to stabilize governance while the board searches for Nathan Allman’s long-term successor and ensure the business continues operating without interruption.
The estate is seeking an expedited ruling because uncertainty over who controls the company could affect contracts, expenditures, equity issuances and other corporate decisions, the filings said.
The court has not ruled on the allegations, and the filings reflect only the estate’s version of events.
The Ondo Board of Directors said in a separate emailed statement that it “remains committed to our founder Nate Allman’s belief that onchain markets are the future of finance. We are focused on serving our community without interruption, and empowering our people to maintain our momentum, as we search for his successor.”
Bitcoin fell below $65,000 on Thursday after stronger-than-expected U.S. jobless claims data reinforced concerns that the Federal Reserve could keep interest rates elevated.
Summary
- Bitcoin traded at $64,384, down 0.69% after failing to close above $65,000.
- Initial U.S. jobless claims reached 199,000, below economists’ forecast of 204,000.
- BTC found immediate support near $64,000, while $64,800–$65,000 remains resistance.
- Further evidence of labor market strength could affect Federal Reserve rate expectations.
Bitcoin price rejected near $65,000
According to data from crypto.news, Bitcoin (BTC) price traded at $64,384.27 at press time, marking a 0.69% decline over the previous 24 hours. The pullback followed another unsuccessful attempt to break through the $64,800–$65,000 resistance zone.
BTC had recovered from approximately $62,400 earlier in the week and briefly tested the upper end of its recent range. However, buyers failed to secure a daily close above $65,000, allowing sellers to regain control near the psychological level.
The rejection pushed Bitcoin toward $64,000, which has emerged as its nearest short-term support. Holding that level would keep the latest recovery structure intact, while a sustained break below it could expose the lower part of the range.
Bitcoin has remained sensitive to U.S. economic releases because stronger data can reduce expectations for monetary easing. Higher interest rates generally make yield-bearing assets more attractive relative to risk assets such as cryptocurrencies.
US jobless claims beat expectations
The latest labor data showed that seasonally adjusted initial unemployment claims reached 199,000 during the week ending Aug. 1, according to the U.S. Department of Labor.
Claims increased by 1,000 from the previous week’s revised reading of 198,000 but remained below the 204,000 expected by economists. The lower-than-forecast figure pointed to continued resilience in the U.S. labor market.
The four-week moving average fell to 198,750, down 4,500 from the revised average of 203,250 recorded a week earlier. This measure helps smooth weekly volatility and provides a clearer view of the underlying trend.
Continuing claims rose by 24,000 to 1.801 million for the week ending July 25. Meanwhile, the insured unemployment rate remained unchanged at 1.2%.
Taken together, the figures showed that layoffs remained limited, although the increase in continuing claims suggested that some unemployed workers were taking longer to find new positions.
Fed expectations weigh on Bitcoin
A resilient labor market could give the Federal Reserve more room to maintain restrictive monetary policy or consider further rate increases if inflation remains elevated.
That possibility matters for U.S. crypto investors because expectations for higher rates can lift Treasury yields and strengthen the dollar. Both developments can reduce demand for non-yielding and higher-risk assets, including Bitcoin.
However, weekly unemployment claims represent only one part of the Fed’s policy outlook. Officials will also consider inflation, payroll growth, wages and consumer spending before making their next decision.
Bitcoin’s decline following the claims release therefore reflects shifting rate expectations rather than a confirmed change in Federal Reserve policy. Upcoming economic data could quickly alter the market’s interpretation.
Bitcoin must reclaim $65,000
Bitcoin now needs to close above the $64,800–$65,000 area to confirm renewed upward momentum. A successful breakout could allow buyers to extend the recovery that began near $62,400.
Until then, the repeated rejection leaves BTC trading within a defined range. The $64,000 level provides immediate support, followed by the recent swing low near $62,400 if selling pressure increases.
Traders will watch upcoming U.S. inflation and employment releases for further clues about the Fed’s path. A softer set of economic figures could revive expectations for lower rates, while continued labor market strength may keep Bitcoin’s recovery capped below $65,000.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Jeff Bezos filed to sell 15 million Amazon shares worth $4.07 billion this week, in a sale that traces back to a trading plan he adopted eight and a half months earlier.
The filing landed a day after Amazon’s stock crossed a $3 trillion market cap on strong earnings, raising a few eyebrows as to its timing. However, the sale mechanism itself was locked in long before either milestone happened.
A Plan Set Eight Months in Advance
Bezos executed the sale through a Rule 10b5-1 trading plan. This is a pre-arranged schedule that lets corporate insiders set future stock sales in advance. The structure removes any discretion over timing once it takes effect.
He adopted this particular plan on Nov. 14, 2025, according to a filing with the U.S. Securities and Exchange Commission (SEC). That is roughly eight and a half months before the shares actually changed hands. The filing noted the shares themselves were acquired as founder stock back in 1994, three years before Amazon’s 1997 initial public offering (IPO).
Bezos remains one of Amazon’s largest shareholders despite the sale. He also donated 220,200 shares to nonprofit organizations in May, separate from this week’s transaction.
Bezos has sold Amazon stock through similar prearranged plans in recent years, according to the filing.
The Earnings Beat Came After the Plan Was Already Set
Amazon reported second-quarter earnings on July 31, beating expectations on cloud computing growth. That report was part of a Big Tech earnings preview published days earlier. It pushed the stock toward a record close on Monday.
Amazon’s market value crossed $3 trillion that same day. Bezos’s shares sold through Morgan Stanley on Monday as well, at an average price tied to that record close.
The stock then fell more than 2% on Tuesday once the filing became public. The plan itself predated that rally by months.
Why the Gap Matters
Rule 10b5-1 plans exist specifically to separate an insider’s trading decisions from live market-moving news. Bezos could not have adjusted this sale’s size or date based on Amazon’s July earnings. The schedule was already fixed months in advance.
The coincidence of timing made the sale look reactive. The filing date says otherwise.
Investors watching Form 144, the SEC document insiders use to disclose planned stock sales, should weigh the adoption date first. The sale date alone can mislead.
The post Bezos’s $4 Billion Amazon Sale Was Scheduled Before the Earnings Beat appeared first on BeInCrypto.
Browser-based tool lets investors and lenders cryptographically confirm that every loan in a tokenized pool belongs there and has passed eligibility rules, without seeing private borrower data Wayzata, MN — August 6, 2026 — Black Lake Digital Markets, the institutional rails for mortgage capital… Read the full story at The Defiant
Whether XRP reaches $5 depends on one distinction. ChatGPT AI predicts institutions will start treating it as financial infrastructure rather than a speculative token, and that shift underpins a price prediction of $5 to $8 by the end of 2026 from $1.06.
Regulatory clarity opens the list of catalysts. Growing institutional adoption follows, with spot XRP ETF inflows pulling liquid supply off the market.
Ripple Payments usage keeps expanding. XRP Ledger activity accelerates alongside it, spanning tokenized real-world assets, AMMs, and stablecoin settlement.
RLUSD strengthens the surrounding ecosystem. Broader crypto tailwinds add lift if the majors stay strong.
ChatGPT frames a conservative base case of $2 to $4. The full $5 to $8 needs ETF assets and real-world utility scaling together.
The bear argument is sharper than usual. Ripple’s enterprise growth could increasingly benefit RLUSD and fiat rails rather than XRP itself.
ETF demand is underwhelming, the second concern. On-chain utility failing to generate sustained token demand is the third.
Any of that leaves XRP range-bound around $1.50 to $3. Positive headlines would keep coming while XRP price goes nowhere.
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XRP Price Prediction: Infrastructure Or Speculation, The Distinction That Decides XRP
The daily chart has offered little comfort. XRP topped above $3.20 in September and has declined almost without pause since.
October brought a violent wick down toward $1.60 before recovery. February then broke the $1.80 shelf and dropped price to roughly $1.15. Spring produced a long consolidation between $1.30 and $1.55. That floor gave way in June.
July marked the low near $1.03. Price has since chopped sideways in a tight band without reclaiming meaningful ground. The close reads $1.07050, down 0.23% and $0.00251 on the day. The session traveled from $1.05377 to $1.07584.
Support sits at $1.05 and then $1.03 at the July bottom. Resistance begins at $1.20, then $1.30 and $1.40. RSI reads 44.56 with the signal line just above at 44.91. The lines are nearly touching, separated by less than half a point.
That reading sits below the midline in mildly bearish territory. Momentum has flattened rather than turned.
ChatGPT is describing a market that does not exist on this chart yet. Reclaiming $1.20 would be the first sign institutions are buying the infrastructure argument.
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Most traders express their view the only way they know how: by buying the coin. But when your opinion is about a rate decision, an inflation print, or where the market lands by year-end, spot exposure prices dozens of other things alongside it, liquidity, sentiment, unrelated flows, whatever happens overnight in a market you weren’t watching.
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The post ChatGPT AI Predicts XRP Could Be Quietly Setting Up a Big Move appeared first on Cryptonews.
Two groups affiliated with the cryptocurrency company-backed political action committee (PAC) Fairshake disclosed spending more than $1.5 million on media to support House of Representatives and Senate candidates in Florida, Alaska and Wyoming after suffering a primary loss in Michigan on Tuesday.
According to Federal Election Commission (FEC) filings as of Thursday, Fairshake PAC affiliates Defend American Jobs and Protect Progress spent a combined $1.5 million on ads for Republican and Democratic candidates, many of whom voted in favor of the Digital Asset Market Clarity (CLARITY) Act while serving in Congress.
In Alaska’s at-large congressional district, scheduled to hold a primary on Aug. 18, Defend American Jobs spent more than $500,000 on media supporting the re-election of Representative Nick Begich. The Super PAC spent about the same amount on Republican candidate Sydney Gruters in Florida’s 16th district, and Representative Harriet Hageman, running for the soon-to-be-vacant Wyoming Senate seat now occupied by Cynthia Lummis. Both US states will also hold primaries on Aug. 18.
The reported expenditures follow a primary loss for a Protect Progress-supported candidate in Michigan’s 13th Congressional District. On Tuesday, Democratic incumbent Shri Thanedar lost a primary to State Representative Donavan McKinney after the Super PAC poured more than $2 million into media supporting the former. The final day of Thanedar’s current term in Congress will be in January 2027.
Related: US Senate will vote on CLARITY crypto bill ‘without any question’ this week: Tim Scott
On the Democratic side, Protect Progress reported spending more than $50,000 for the re-election of Lois Frankel in Florida’s 23rd district. Frankel, Begich and Hageman all voted in favor of the GENIUS Act and CLARITY Act while serving in Congress, while Gruters did not appear to have made any public statements on crypto or blockchain, with the exception of saying she supported the crypto market structure bill in a questionnaire conducted by the advocacy organization Stand With Crypto.
The expenditures were the latest examples of Fairshake and cryptocurrency industry-aligned groups attempting to influence US elections through media. The Super PAC reported spending more than $170 million in the 2024 US election cycle on House and Senate races, potentially changing the makeup of the current Congress.
CLARITY votes to influence 2026 midterms?
While it was still uncertain as of Thursday whether the US Senate would hold a vote on the CLARITY Act before the chamber broke for a month-long recess, how lawmakers cast their ballots could affect whether the crypto industry actively supports or opposes their re-election bids. All 435 House seats are up for grabs in 2026, as are 33 seats in the US Senate.
In January, Stand With Crypto said that its “primary goal” in 2026 was getting crypto market structure legislation through Congress. The organization’s community director, Mason Lynaugh, told Cointelegraph in November that how lawmakers vote on the bill could impact their re-election chances. Stand With Crypto rates political candidates on a scale of “strongly supports crypto” to “strongly against crypto” depending on their voting records and public statements, which may be used by PACs and organizations deciding where to allocate funds.
Magazine: 10 weirdest things ever tokenized… including farts
On Thursday, the Republican-led committee voted 8-7 along party lines to advance the contempt resolution.
Here’s what to know about what that vote means, and what might come next for Fauci.
What does it mean to be held in contempt of Congress?
Contempt of Congress is a federal misdemeanor in which an individual willfully disobeys or impedes a congressional investigation.
A contempt of Congress charge may be levied against someone if they fail to appear before a committee after being subpoenaed, refuse to produce required documents, or refuse to answer questions related to an investigation.
Congress does not hold the power to prosecute or convict someone of the crime; instead, the House or Senate can vote to approve a resolution finding a person in contempt and refer the matter to the executive branch for prosecution.
What comes next after the Senate committee vote?
Under Senate procedure, following a panel vote to approve a contempt resolution like the one on Thursday, the measure then heads to the full chamber for a vote. If it passes there, the case is certified and sent to the Department of Justice (DOJ).
Crypto World
Southeast Asia’s Next Growth Engine Runs on AI Infrastructure, United Overseas Bank Says
Artificial intelligence (AI) has stopped being a technology story in Southeast Asia and has become an economic growth engine, according to United Overseas Bank (UOB) executives speaking at the ASEAN Conference 2026.
The opportunity lies less in adopting AI tools than in building the physical infrastructure that makes them possible.
Where the Data Center Capacity Is Going
A hyperscaler is a company that operates data centers at a massive scale, typically a cloud provider serving global computing demand. Those firms are now accelerating capacity across the region.
Malaysia has captured much of the recent growth. Thailand, Indonesia, and Vietnam are also expanding aggressively as investment spreads across the region.
Singapore faces different constraints entirely. Long the premium hub, it now faces land and energy constraints that have prompted spillover effects on neighboring markets.
The numbers illustrate the scale. Industry trackers show Southeast Asia already hosts dozens of AI-focused facilities with several gigawatts of operational and planned capacity.
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Projections point sharply higher. Wood Mackenzie estimates data-center power demand could quadruple from 2.6 gigawatts in 2025 to 10.7 gigawatts by 2035.
A separate report reinforces that trajectory. The e-Conomy SEA 2025 study by Google, Temasek, and Bain estimates over 4,600 megawatts of new capacity in the pipeline. That expansion implies roughly 180% capacity growth, faster than the rest of Asia-Pacific.
The build-out demands more than servers and chips. Reliable power, advanced cooling, land, and robust grid connections all form essential components.
Capital requirements are correspondingly large. UOB’s Edmund Leong estimated that roughly $150 billion could flow into regional energy infrastructure over the next five years.
The Bottlenecks That Could Slow It Down
That figure spans multiple categories. Renewables and broader energy-transition projects both feature prominently in the projected investment. The dependency runs both ways. Without adequate energy and grid upgrades, the entire AI opportunity risks being constrained regardless of demand.
Financial institutions occupy a pivotal position. Banks with regional footprints mobilize loans, bonds, and equity while facilitating cross-border capital flows. Their role extends beyond financing. Those institutions connect developers with regulators, utilities, and telecom providers across multiple jurisdictions.
Selectivity matters considerably. Not every project proves bankable, and success depends on operators with technical expertise, committed shareholders, and long-term vision. Bottlenecks remain genuine obstacles. Power availability and semiconductor supply both constrain how quickly capacity can materialize.
Market dynamics offer some relief. Demand should eventually spur supply-side responses, gradually lowering costs and improving efficiency. Execution determines outcomes. Translating infrastructure investment into measurable results requires clear strategies, governance, and workforce readiness.
The potential prize justifies the attention. Southeast Asia’s digital economy should exceed $300 billion in gross merchandise value, with AI potentially adding up to $1 trillion to regional GDP by 2030.
Funding patterns reveal an interesting split. Equity concentrates in Singapore, while physical construction is dispersed, with Malaysia alone attracting tens of billions in commitments.
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The post Southeast Asia’s Next Growth Engine Runs on AI Infrastructure, United Overseas Bank Says appeared first on BeInCrypto.
Fairshake-affiliated political action committee groups have reported fresh ad spending aimed at congressional races in several states after a loss in Michigan earlier this week, according to Federal Election Commission (FEC) filings.
As of Thursday, Defend American Jobs and Protect Progress—two Fairshake-connected entities—disclosed more than $1.5 million combined on media advertising supporting candidates in Florida, Alaska, and Wyoming. The spending comes shortly after Protect Progress suffered a primary setback in Michigan’s 13th district, following more than $2 million in earlier advertising for the candidate who ultimately lost.
Key takeaways
- Fairshake PAC affiliates Defend American Jobs and Protect Progress reported spending over $1.5 million on election ads in Florida, Alaska, and Wyoming, per FEC filings.
- Alaska’s at-large district: Defend American Jobs spent more than $500,000 supporting Rep. Nick Begich ahead of a primary scheduled for Aug. 18.
- Florida and Wyoming races were also targeted, including spending for Republican candidates running in primaries set for Aug. 18.
- The new ad activity follows a Michigan primary loss for a Protect Progress-supported candidate, after the group spent more than $2 million earlier.
- The spending underscores ongoing efforts by Fairshake and crypto-aligned groups to influence U.S. politics around proposed market-structure legislation.
Fairshake affiliates pivot to other primaries
Federal Election Commission disclosures show that Fairshake-linked entities Defend American Jobs and Protect Progress—cited in the FEC records as PAC affiliates—spent a combined $1.5 million on ads backing both Republican and Democratic candidates.
In Alaska’s at-large congressional district, Defend American Jobs spent more than $500,000 on media supporting the re-election of Representative Nick Begich. The filings also show roughly similar levels of advertising for GOP candidate Sydney Gruters in Florida’s 16th district and for Representative Harriet Hageman, who is running for a Wyoming Senate seat expected to be vacated by Cynthia Lummis.
Florida’s 16th district, Alaska’s at-large contest, and the Wyoming Senate race all face primaries scheduled for Aug. 18, according to the reporting described in the article.
Michigan loss highlights the stakes for crypto-backed advocacy
The new expenditures follow a primary loss in Michigan’s 13th Congressional District. Earlier this week, Democratic incumbent Shri Thanedar lost a primary to State Representative Donavan McKinney after Protect Progress had spent more than $2 million on media supporting Thanedar, the earlier coverage cited in the article notes. Thanedar’s current term ends in January 2027.
For crypto-aligned PAC operations, the contrast between large ad buys and outcomes in primaries is a reminder that political advertising is not a guaranteed lever—even for well-funded groups. The Michigan result also illustrates how quickly spending strategies can shift once a race turns unexpectedly.
Who received support—and how voting records factor in
On the Democratic side, Protect Progress reported spending more than $50,000 on media supporting Lois Frankel’s re-election in Florida’s 23rd district. The article states that Frankel, Begich, and Hageman all voted in favor of the GENIUS Act and CLARITY Act while serving in Congress.
By contrast, the filings discussed for Sydney Gruters did not indicate public crypto-related positions beyond participation in a questionnaire process overseen by the advocacy organization Stand With Crypto. According to the article, Gruters stated in that questionnaire that she supports the crypto market structure bill.
That distinction—between candidates with clear legislative voting records on one hand and candidates whose support is supported primarily by advocacy questionnaires on the other—helps explain why crypto-aligned groups may tailor messaging and funding even when the broader policy objective is the same.
Campaign spending ramps up around market-structure bills
The reported expenditures fit into a broader pattern of election-focused activity by Fairshake and groups aligned with the cryptocurrency industry. The article notes that in the 2024 election cycle, Fairshake-related spending reached more than $170 million across House and Senate races, potentially influencing the composition of the current Congress.
Just as importantly, the article frames these ad buys in the context of crypto market-structure legislation—particularly the Digital Asset Market Clarity (CLARITY) Act—whose future congressional action could shape how industry groups approach the 2026 midterms.
While it was unclear as of Thursday whether the U.S. Senate would vote on the CLARITY Act before a month-long recess, the way lawmakers cast votes on the bill could determine whether crypto-aligned organizations actively back or oppose particular candidates ahead of re-election contests.
The article also points to earlier outreach from Stand With Crypto in which it described a “primary goal” for 2026: advancing crypto market structure legislation. It further notes that Stand With Crypto rates political candidates based on their record of support or opposition, using public statements and voting history—information that PACs and allied groups may rely on when deciding where to allocate resources.
What to watch next in U.S. crypto politics
With primaries on Aug. 18 and the CLARITY Act’s potential Senate vote still uncertain, investors and builders in the crypto space may want to track not only which candidates are winning races, but also how congressional voting records and public commitments evolve—since those signals may influence how aggressively Fairshake-linked groups and crypto-aligned organizations deploy funding into the 2026 election cycle.
Robinhood Chain's decentralized exchange volume fell 72.5% between its Jul. 11 peak and Aug. 1, but every other headline metric on the chain kept climbing through the drop. While transactions, total value locked and stablecoin supply are all at record highs, the size of the average trade collapsed…. Read the full story at The Defiant
Volunteer developers filed 4,962 security findings across 390 Bitcoin projects in about 30 hours. Of the 391 codebases they reviewed, exactly one came back clean.
The group calls itself the Bitcoin Red Team. It rated 720 of those findings high or critical. Only 147 have reached the maintainers who have to fix them.
Every 1 in 7 Findings is Serious
The severity split is narrower than the raw total suggests. Reviewers logged 85 critical issues and 635 high ones.
That works out to 14.5% of everything filed. The rest sit in medium, low, or informational buckets. Another 246 findings carry no severity label at all.
Evidence quality varies too. About 21.4% came with working proof-of-concept code. Roughly 91% arrived through automated scanning. Reviewers retired just eight as false positives.
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One Hour Produced 83% of the Findings
The 30-hour framing needs a caveat. A single hour absorbed 4,101 findings. That spike was a backfill, not live scanning. Rob Hamilton, chief executive of Bitcoin insurer AnchorWatch, ran his own review before the campaign formally began.
He said he spent over $10,000 scanning more than 100 libraries.
Strip the dump out, and the pace changes sharply. Roughly 840 findings were received over the other 29 hours. That is closer to 29 an hour than the 166.3 the report advertises.
The Data Points Away From Hardware Wallets
The category breakdown carries a surprise. Hardware wallets and firmware, the group Coldcard belongs to, ranked second lowest for serious flaws at 9.6%.
Other corners fared worse. Mining pools hit 21.7%, infrastructure and tooling 21.5%, and swaps and exchanges 20.9%. Privacy tools topped the table at 24%, though reviewers covered only three of them.
Crypto libraries carried the volume instead. They produced 1,385 findings across 128 projects, more than a quarter of the corpus.
Calle, the pseudonymous physicist who created the Cashu ecash protocol, said maintainers are confirming the worst reports.
Most of the critical reports we’ve made so far were quickly verified by project owners. We know we’re hitting real targets,” they wrote.
Why the Red Team Formed After Coldcard
The sweep began because of one broken chip. Coinkite disclosed on July 30 that seed generation on affected Coldcard devices fell back to a predictable software routine.
The shortfall was severe. Only 32 bits came from the secure element, capping an attacker’s search at about 4.3 billion guesses.
Galaxy Research pegged confirmed thefts at 1,596 Bitcoin (BTC) from roughly 7,300 addresses on Aug. 4. A suspected fourth attack wave would bring the total to nearly $130 million. Galaxy stresses its address list is not definitive.
The panic showed up on-chain, where active addresses spiked to a 20-month high. Korean holders largely escaped because dice-based seeds are common there.
Weak randomness keeps returning in Bitcoin, however. The 2023 Milk Sad bug seeded Libbitcoin Explorer keys from 32 bits of clock time. In May, the Ill Bloom vulnerability drained $5.7 million from wallets built on a weak JavaScript generator.
Funding Follows the Findings
OpenSats, a nonprofit that funds Bitcoin development, launched a Code RED grant track on Thursday. It pays researchers who disclose flaws. It also refunds the artificial intelligence (AI) bills the work runs up.
Meanwhile, Bitcoin traded near $64,396 on Thursday, up 0.5% over 24 hours. The audit has not moved the market.
Context still matters for the raw number. These are findings, not confirmed exploits, and most will never be weaponized.
On the evidence so far, though, Coldcard was not an isolated failure. The data also suggests the next one will not be a hardware wallet.
The post Bitcoin Network Warning: Developers Find Nearly 5,000 Vulnerabilities appeared first on BeInCrypto.
Bitcoin price slips below $65K after US jobs data
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