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  • Zuckerberg’s Meta AI: XRP Poised for 2027 Breakthrough

    Zuckerberg’s Meta AI: XRP Poised for 2027 Breakthrough

    Meta AI Forecasts Significant XRP Revaluation Amidst Regulatory and Banking Developments

    Artificial intelligence from Meta is predicting a substantial shift in the valuation of XRP, suggesting the cryptocurrency is currently mispriced. The AI model posits that XRP could reach $1.01 in the short term, with a more ambitious outlook projecting a price range of $7 to $9 by the end of 2027, and a potential stretch case of $12 to $15.

    Regulatory Clarity Paves the Way for Institutional Adoption

    The foundation for this optimistic forecast appears to be rooted in recent regulatory advancements. Ripple’s settlement of its five-year legal battle with the U.S. Securities and Exchange Commission (SEC) in August 2025 for $125 million, which included the dropping of all appeals, confirmed that retail sales of XRP are not considered securities. Meta AI has characterized this as establishing the “clearest regulatory status in U.S. crypto.”

    Following this landmark settlement, six spot XRP Exchange Traded Fund (ETF) applications were filed. Analysts anticipate these products could attract between $5 billion and $8 billion in first-year inflows, signaling a significant institutional on-ramp that underpins the bullish thesis for XRP. Early ETF products are already experiencing net inflows, further validating this trend.

    Ripple’s Banking Ambitions and RLUSD Stablecoin

    Beyond regulatory clarity, Ripple is pursuing a more ambitious strategy by applying for a U.S. national bank charter and a Federal Reserve Master Account. This would enable Ripple to hold reserves for its stablecoin, RLUSD, directly with the Fed. RLUSD, backed by BNY Mellon, is designed for ISO 20022 compliant settlements. Ripple is also set to expand its presence in Japan through a partnership with SBI Holdings by early 2026.

    The company’s acquisitions of The Rail and Hidden Road are contributing to the development of a robust, bank-grade infrastructure. This ecosystem positions RLUSD as the settlement stablecoin, while XRP is intended to function as the native liquidity asset on the ledger.

    Bear Case: Timing and Market Inertia

    The primary concern for XRP’s performance, according to the bear case, is timing. If ETF inflows fall short of expectations and the broader market experiences sideways trading into 2026 without significant catalysts, XRP could remain range-bound between $1.50 and $2.50. In this scenario, regulatory clarity would be acknowledged but not yet fully monetized by the market.

    Technical Analysis: Chart Reflects Current Downtrend

    Current technical indicators do not yet support the optimistic price predictions. XRP traded above $3.30 in August of the previous year and has experienced a consistent decline since. A sharp drop occurred in October, bringing the price towards $2.40. By February, XRP fell below $1.80, reaching lows near $1.15.

    The spring saw XRP trading within a range of $1.30 to $1.55. This range was broken in June, and the downward trend has persisted. July and August have witnessed a slow but steady decline, with the price currently at its lowest point on the observed chart.

    The latest closing price was $1.02208, down 0.69% for the day. The trading session ranged from $1.01505 to $1.04020. Immediate support is identified at $1.01, followed by a psychological floor at $1.00. Resistance levels are noted at $1.10, $1.20, and $1.40.

    The Relative Strength Index (RSI) stands at 37.09, with its signal line at 41.54. The oscillator’s position, trailing the signal line by approximately 4.5 points, suggests that sellers currently maintain control of the market. This reading is approaching oversold territory but has not yet entered it, indicating weak and downward-trending momentum.

    Meta AI’s analysis highlights the ongoing development of infrastructure, which the current market price has yet to reflect. A reclaim of the $1.10 level would be the initial indication that this disconnect is beginning to narrow.

  • XRP Tests 18-Month Support: Can $1 Hold?

    XRP Tests 18-Month Support: Can $1 Hold?

    XRP Price Prediction: Ripple’s Token Hovers Near Key Support as Peers Rally

    XRP is currently trading at $1.006, a 3.2% decrease on the day, teetering just above the crucial $1 psychological level. This price action stands in contrast to its market peers, which have seen rallies while XRP struggles to gain momentum. The current situation suggests a potential breakout is imminent, with the direction of this move determining whether XRP is poised for a significant upward trend or a further decline.

    Analyst Roadmaps and Key Levels

    Analyst EGRAG CRYPTO has outlined a roadmap for XRP, indicating that a sustained move towards $3.00-$3.60 would require the token to first overcome resistance at $1.30-$1.60 and then $1.96, validating a “Wave 3” scenario. On the downside, immediate support is identified at $1.00-$0.95, followed by $0.75, and then a more significant zone between $0.60-$0.52 if bearish pressures intensify.

    Meanwhile, analyst That Martini Guy has highlighted an unusual divergence: Bitcoin, Ethereum, and Solana experienced bounces last week, while XRP declined by approximately 5%, despite ongoing inflows into related exchange-traded funds (ETFs).

    Technical Indicators and Market Indecision

    XRP recently recorded its lowest weekly close in nearly two years at $1.029. The asset is currently trading within a narrow range, between $1.0038 and $1.0218, a tight band that signals market indecision rather than strong directional conviction. TradingView data points to the next resistance level at $1.06, with potential upside targets at $1.35 and $1.64 should momentum shift favorably. CoinGecko data corroborates this, showing XRP’s 24-hour low and high prices closely aligned with its current trading price, indicating a market that is coiled rather than trending.

    Bull, Base, and Bear Scenarios

    The bullish outlook for XRP hinges on its ability to reclaim $1.06 and then break through the $1.30-$1.60 resistance zone, which EGRAG CRYPTO suggests would confirm the breaking of Wave 1’s high and validate a potential Wave 3 move towards $3.00-$3.60.

    The base case scenario anticipates XRP trading sideways between $0.95 and $1.06 as the market awaits a significant catalyst. The bearish scenario, however, posits that the $1.00 support level will fail, leading to a price decline towards $0.75 and potentially the $0.60-$0.52 zone.

    Fundamental Strength vs.

    Price Action

    Despite a strong fundamental case, driven by Ripple’s ETF demand and increasing Real World Asset (RWA) activity on the XRP Ledger—which has seen tokenized assets surge to $4.06 billion across 373 assets from just $73 million in January 2025—price confirmation remains elusive. For XRP holders, the prolonged period of price stagnation around the $1 mark has been a source of frustration.

    The anticipation of a Wave 3 breakout is now viewed as a multi-week bet rather than a short-term trade. This has led some investors to reallocate capital towards earlier-stage infrastructure projects with potentially higher upside, where market capitalization is not yet a limiting factor.

    This article is for informational purposes only and does not constitute financial advice. Cryptocurrency markets are highly volatile and unpredictable. Always conduct independent research before making any investment decisions.

  • North Korea Exploits Crypto Crime for Laundering: RUSI

    North Korea Exploits Crypto Crime for Laundering: RUSI

    North Korea is increasingly funneling stolen cryptocurrency through money-laundering networks shared with scam syndicates and organized crime, making it harder for investigators to trace the illicit funds, according to a research paper published this month by the Royal United Services Institute (RUSI), a British defense and security think tank.

    The regime is estimated to have stolen at least $2.8 billion in virtual assets between January 2024 and September 2025, funds that the paper suggests are likely used to support its weapons programs. Authors Allison Owen and Noémi També focused their analysis on the critical stage where these digital assets are converted into usable cash, rather than the more widely documented movement through decentralized services.

    Ownership of the stolen cryptocurrency frequently changes hands before conversion. In some instances, a third party will purchase the illicit coins outright at a discounted rate. One investigator cited in the paper indicated that such a transfer of ownership can be inferred when the stolen funds are found mixed with proceeds from activities like “pig butchering” investment scams, or when they appear at addresses linked to entities such as Cambodia’s Huione Group, whose infrastructure was seized by the U.S. Justice Department in June. Elliptic, a firm that provided data for the research, believes these handovers often occur on the Bitcoin blockchain.

    Following the February 2025 Bybit hack, incident responders at ZeroShadow observed the North Korean regime relying on a complex network of launderers, over-the-counter (OTC) desks, and peer-to-peer traders. Many of these individuals are reportedly Chinese nationals working around the clock. TraderTraitor, the North Korean hacking group implicated in the theft, allegedly utilized Chinese organized crime groups to facilitate the movement of funds and the subsequent return of cash.

    This overlap between North Korea’s illicit finance activities and criminal ecosystems presents a significant challenge for compliance teams, as the markers of proliferation finance become difficult to distinguish from ordinary money laundering once the proceeds enter these networks.

    The accounts used for cashing out the cryptocurrency typically belong to individuals recruited as mules, primarily from the Philippines, Indonesia, and China. In these regions, credentials can be acquired cheaply enough to allow for bulk purchases and the opening of numerous accounts at scale. Interviewees indicated that these mules generally have no further involvement or knowledge of who they are ultimately working for.

    The conversion process is often conducted in small increments. Actors are observed selling approximately $7,000 worth of stablecoins at a time on peer-to-peer marketplaces, amounts designed to fall below thresholds that would trigger bank reviews. ZeroShadow also noted that larger sums, such as those from the Bybit hack, were broken down into $30,000 chunks to minimize the impact of potential asset freezes. Further indicators of suspicious activity at exchanges include logins via Astrill VPN and the filing of 50 to 70 support tickets by launderers to expedite the release of single held transactions.

    The conversion to fiat currency rarely occurs through simple bank transfers. Proceeds from OTC brokers are frequently deposited into accounts controlled by North Korea, often using UnionPay cards issued by Chinese banks. The RUSI paper identifies 19 Chinese banks that were flagged last year by the Multilateral Sanctions Monitoring Team as being used by the North Korean regime and its proxies.

    Of the approximately $1.5 billion stolen from Bybit, 95% was initially moved through decentralized services. The monitoring team reported that by September 2025, all of these funds had been converted into fiat or hard currency.

    The authors of the report are calling for enhanced regulatory guidance on correspondent banking relationships between exchanges, standardized customer onboarding questionnaires, secure channels for intelligence sharing, and the implementation of a Virtual Asset Service Provider (VASP) identifier in payment messages. This would enable receiving banks to more easily identify and flag suspicious transactions.

    The limited success in recovering stolen assets is evident in Bybit’s recent actions. The exchange announced Monday that it had sued North Korea and obtained an order freezing identified assets. Bybit has recovered $48.4 million and frozen an additional $30.5 million, collectively representing about 5% of the total amount stolen.

  • ADA Rally Stalls: Analyst Predicts 25% Decline

    ADA Rally Stalls: Analyst Predicts 25% Decline

    Cardano’s native token, ADA, has experienced a significant rally in recent weeks, but analysts are now warning of a potential sharp downturn. The cryptocurrency saw its price surge by 15% over the past month, reaching a high of nearly $0.21 in early August, a level not seen since June. This upward momentum was initially fueled by a substantial influx of large investors, who acquired over 240 million ADA coins in less than a week.

    Potential for a Significant Decline

    Despite the recent gains, popular crypto analyst Ali Martinez has identified several factors that could signal a substantial short-term price correction for ADA. Martinez pointed to a decrease in the number of “whales” – addresses holding between 1 million and 10 million ADA. This metric has fallen from 2,370 to 2,340, suggesting that some large holders may be cashing out or reallocating their assets following the price surge.

    Furthermore, Martinez highlighted the formation of a “death cross” between Cardano’s Moving Average Convergence Divergence (MACD) ratio and its 7-day simple moving average. This technical indicator is often interpreted as a sign of weakening momentum and an increased risk of a deeper correction. Adding to these concerns, the TD Sequential indicator on ADA’s daily chart has flashed a sell signal.

    Martinez predicts that if these warning signs materialize, ADA could fall to the mid-range support level of $0.17. A further breakdown below this point could expose the lower boundary of the channel, potentially pushing the price down to around $0.144.

    ETF Setback and Investor Sentiment

    Adding to the bearish outlook, Grayscale, a prominent digital asset manager, recently withdrew its exchange-traded fund (ETF) filings for three altcoins, including Cardano. The launch of such a product had been eagerly anticipated by bulls, who believed it could significantly boost demand and drive up ADA’s price. The withdrawal means investors will have to wait longer for this potential catalyst.

    Mixed Signals and Potential Buying Opportunities

    However, not all indicators are pointing downwards. In recent days, ADA has seen higher exchange outflows than inflows, suggesting that investors are moving their holdings from centralized exchanges to self-custody. This trend can reduce immediate selling pressure on the market.

    Additionally, Cardano’s Relative Strength Index (RSI) has dropped to 25, indicating that the asset is in oversold territory. Historically, such low RSI levels are often viewed as potential buying opportunities, as they suggest that the price may have fallen too far, too fast and could be due for a rebound.

  • Coinbase Launches UK Derivatives Trading with 50x Leverage

    Coinbase Launches UK Derivatives Trading with 50x Leverage

    Coinbase Launches Derivatives Trading for UK Professionals

    Coinbase announced Tuesday it is opening derivatives trading to professional investors in the United Kingdom, offering more than 170 contracts across cryptocurrency, commodities, equities, and foreign exchange, with leverage up to 50 times.

    The new offering includes three contract types, according to a post by Keith Grose, Coinbase’s UK and international vice president. Perpetual contracts will cover the full range of over 170 assets, have no expiry date, trade 24/7, and offer leverage up to 50x.

    Dated futures will settle on fixed dates, incorporate the cost of carry into the entry price rather than charging funding rates, and have a leverage cap of 20x. Crypto options, limited to crypto underlyings, will include calls and puts for both single and multi-leg strategies, with payoff diagrams integrated into the trading interface.

    Access will be restricted to investors classified as professional clients, and Coinbase indicated the rollout will be phased. The Financial Conduct Authority (FCA) has prohibited the sale of crypto derivatives to UK retail consumers since 2021, forcing individual traders to rely on offshore platforms.

    This expansion is supported by an investment services authorization, commonly known as a MiFID license, which Coinbase obtained from the FCA on July 7. This license permits the company to offer instruments beyond just cryptocurrencies. In March, Coinbase had already introduced crypto futures to 26 European countries under MiFID II regulations, with leverage up to 10 times.

    Grose positioned the launch as a key component of the company’s “Everything Exchange” strategy, which aims to consolidate cryptocurrency, stocks, derivatives, and prediction markets within a single application. Coinbase highlighted that global crypto derivatives volume is typically 4.4 times that of spot markets, a disparity that it argues leaves professional traders dependent on unregulated venues.

    The derivatives offering follows closely on other recent expansions. Just five days prior, Coinbase introduced 24/5 U.S. stock trading to its UK users, covering nearly 4,000 stocks. Six days before that, the company opened perpetual futures trading to wholesale clients in Australia. Coinbase asserts it is the most comprehensively regulated crypto firm operating in the UK market.

    This growth is occurring ahead of the full implementation of the UK’s crypto regulatory framework, which the FCA finalized in June. The mandatory regime is not expected to take effect until October 2027.

    The launch also comes at a time of ongoing uncertainty regarding the cryptocurrency sector’s relationship with the UK financial establishment. On Tuesday, Parliament’s Crypto and Digital Assets All-Party Parliamentary Group sent a letter to bank chief executives as part of an inquiry into banking access, following numerous complaints from crypto firms unable to reliably open accounts.

  • BetFury’s Fury World Cup ’26 Awards $600K, Sees 66% User Surge

    BetFury’s Fury World Cup ’26 Awards $600K, Sees 66% User Surge

    BetFury Concludes Fury World Cup ’26 with $600,000 in Prizes and Significant User Growth

    Curacao, August 11th, 2026 – BetFury, a prominent cryptocurrency casino, has announced the successful conclusion of its Fury World Cup ’26 campaign. The event, which ran concurrently with the 2026 FIFA World Cup, transformed the platform into a comprehensive hub of activity, distributing a substantial $600,000 prize pool across five distinct promotions. The final metrics underscore the significant impact that aligning a platform-wide event with a major global sporting tournament can have.

    Growth Across Key Metrics

    In the 43 days leading up to the campaign, BetFury observed a notable increase across all core participation metrics. Active users surged by 66.06%, total bets increased by 16.93%, and deposits saw a rise of 7.53%. The disparity between user growth and deposit increases suggests widespread engagement rather than concentrated high-value spending. The final match of the World Cup, between Argentina and Spain, proved to be the most popular in terms of user participation, total bets, and overall wagered amounts.

    Pre-Event Engagement Strategy

    The Fury World Cup ’26 campaign initiated its build-up even before the tournament’s kick-off. Users were offered the opportunity to add the event to their calendars and receive No Risk Bet rewards. Additionally, the Fury World Cup ’26 Giveaway provided 30 randomly selected users with $100 each in Free Bets. These early initiatives, alongside other supplementary activities, successfully generated anticipation for the group stage and subsequent playoff matches.

    Rewards Structure for Main Promotions

    The core of the campaign featured three distinct “Sports Battles”: First Kick, Final Whistle, and Midfield. In each of these, 150 winners shared a prize pool of $40,000, distributed in BFG tokens and Free Bets. The Sport Missions Journey comprised 115 individual missions. The Mundial Prediction Event, a free-to-enter competition, awarded points based on correct match-winner predictions, with scores varying from 2 to 12 points depending on the World Cup phase. The top 100 participants in this event shared a $20,000 prize pool. The campaign concluded with the Golden Ticket Raffle, which awarded $100,000 to random holders of winning lottery tickets.

    Significance of the Large-Scale Event

    The extensive scale of the Fury World Cup ’26 campaign yielded benefits on multiple fronts. For players, the array of promotions and the $600,000 prize pool transformed the six-week soccer tournament into a period of daily competition and opportunities for free rewards. For BetFury, the surge in active users and revenue demonstrated the platform’s ability to leverage a global cultural moment into measurable business performance. For the broader cryptocurrency sports betting industry, the campaign serves as a compelling example of how a platform can integrate predictions, missions, competitions, and rewards around a major sporting event, moving beyond traditional advertising models.

    “A tournament that occurs only once every four years warranted more than a standard promotion; we aimed to build an event on a commensurate scale,” stated the CEO of BetFury. “The most crucial outcome is the high level of user participation, and a 74.66% increase in Gross Gaming Revenue (GGR) confirms that this engagement translated into tangible commercial returns. This success provides a solid foundation for future large-scale campaigns.”

    Lasting Impact and Future Outlook

    While the Fury World Cup ’26 has concluded, its impact on BetFury is expected to endure, marked by an expanded active user base, strengthened platform metrics, and a validated strategy for future large-scale initiatives.

    About BetFury
    Founded in 2019, BetFury is a leading cryptocurrency casino with over 3.5 million registered players and $11.5 billion wagered. The platform offers a vast selection of over 13,000 games, including 24 original titles with a Return to Player (RTP) of up to 99.28%, and more than 80 sports for betting with competitive odds. In addition to its gaming offerings, BetFury provides a comprehensive suite of crypto financial tools, such as Crypto Staking with up to 60% APR, Futures trading, and Crypto Swap. The platform also features BFG Staking, allowing users to accumulate native tokens or receive payouts in BFG or USDT. BetFury is committed to continuous evolution based on user feedback and promotes responsible gambling practices. More information is available at betfury.com.

  • CLARITY Act Vote Stalls on Procedure, Not Final Decision

    CLARITY Act Vote Stalls on Procedure, Not Final Decision

    Senate Banking Committee Advances CLARITY Act Amidst Uncertain Future

    The CLARITY Act has cleared a significant hurdle, passing the Senate Banking Committee with a comfortable 15-9 bipartisan vote. However, its journey to becoming law is far from assured, with analysts now estimating a 75% chance of the bill failing to reach a final vote.

    This assessment comes from Jaret Seiberg, an analyst at TD Cowen Washington Research Group, who noted in a policy brief on August 10 that the CLARITY Act has shifted from a likely legislative victory to a highly uncertain prospect heading into September.

    The bill’s prospects have become a focal point for market participants, with traders on Kalshi placing bets on its passage by July 1, 2027. This market saw a 2% increase overnight, currently standing at 35%.

    The Digital Asset Market Clarity Act’s Objectives

    The Digital Asset Market Clarity Act (H.R. 3633) aims to establish a clear division of federal oversight for digital assets between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Under the proposed legislation, digital commodities would fall under the CFTC’s purview, while assets deemed investment contracts would be regulated by the SEC.

    Senator Cynthia Lummis (R-WY) released updated text for the bill on July 22, underscoring the urgency of its passage. She described it as “the last real chance…to get this right.” Senate Agriculture Committee Chairman John Boozman (R-AR) highlighted the bill’s role in providing a clear regulatory framework for digital commodities. Meanwhile, Banking Committee Chairman Tim Scott (R-SC) emphasized its importance in protecting retail investors and combating illicit finance. Despite initial momentum, including the committee vote, progress in the Senate has stalled.

    SEC Initiates Crypto Rulemaking as Senate Recesses

    In a significant development, the SEC is poised to commence its first major cryptocurrency rulemaking process this week, following the Senate’s failure to pass the CLARITY Act before the August recess. The SEC is scheduled to meet on August 14 to propose “Regulation Crypto.” This proposal could potentially establish a legal pathway for certain digital assets.

    Procedural Hurdles and Potential Failure Scenarios

    Seiberg’s projection of a 75% failure rate, as reported by Bitcoin.com News, emerged after Senate Majority Leader John Thune filed for cloture on August 8. While an initial cloture vote is scheduled for September 15 at 2:15 p.m. ET, this procedural step does not guarantee the bill’s ultimate passage. Several potential scenarios could lead to its demise:

    With Republicans holding 53 seats, at least seven Democrats or independents would need to support the cloture motion for it to pass. Unresolved disputes concerning stablecoin yields, anti-money-laundering provisions, and regulatory authority continue to be points of contention.

    TD Cowen maintains that the bill is not definitively dead, but its path forward has become considerably more challenging. The most plausible route to passage would involve the initial cloture motion securing more than 60 votes. This would be followed by Democrats bringing their preferred ethics compromise to a floor vote. Should that amendment fail by a simple majority, crypto-friendly Democrats might then support final passage, having formally registered their objection.

    A less probable scenario involves the White House negotiating its own ethics agreement with Democrats to garner sufficient votes. A “lame-duck” scenario is also a possibility, but it would only materialize if Republicans retain control of both chambers of Congress beyond the midterm elections, pushing any resolution well past the current fall trading season.

    Market Implications of Delayed Clarity

    For traders anticipating a near-term regulatory catalyst, the extended timeline is a critical factor. Even the most optimistic outlook does not foresee regulatory clarity for cryptocurrencies arriving in September.

    Assets most sensitive to the SEC/CFTC market structure outcome appear to have already factored in this delay. XRP, which stands to benefit directly from a codified digital commodity classification under CFTC oversight, has experienced a softening of ETF inflows, mirroring the postponed regulatory timeline. This pattern has been observed previously, with price reactions documented after each procedural setback, including earlier postponements of Senate votes.

    The market’s reaction function on September 15 will be instructive. A clean cloture passage, accompanied by visible follow-through, amendment votes, and a clear path to final passage, would likely be interpreted as a significant de-risking event for tokens sensitive to market structure. Conversely, a cloture vote that is either postponed or yields no subsequent action would reinforce the bill’s drift toward TD Cowen’s base case, potentially leading to a reversal of gains for assets that had priced in regulatory tailwinds.

  • Pi Network’s PI Plunges Below Support as Pioneers Await Update

    Pi Network’s PI Plunges Below Support as Pioneers Await Update

    PI Token Faces Setback Amidst Anticipation for Protocol Upgrade

    Pi Network’s native token, PI, has seen its recent surge curtailed, falling back below the critical support level of $0.09. This price action occurs as the project’s extensive community eagerly awaits updates on the next protocol upgrade, slated to be the penultimate in the series.

    Following a challenging July, during which PI recorded a series of all-time lows, including a dip to $0.07 mid-month, the token entered August with renewed optimism for a recovery. Initial resistance at $0.088 and a subsequent slip to $0.08 were overcome, paving the way for an impressive rally. By August 6, PI had surpassed $0.09 and even briefly touched $0.096. However, hopes for a push towards the significant $0.10 mark were dashed as the token was rejected and fell below $0.09 again last Friday. While buyers managed to reclaim the $0.09 level over the weekend, with PI peaking at $0.094 on Sunday morning, the upward momentum proved short-lived.

    As is often the case during notable rallies, bearish forces emerged, halting PI’s advance. The token was once again capped at $0.092 and pushed below the key $0.09 support. It dropped to $0.084 minutes ago, where buying interest emerged, helping it recover to its current trading price of $0.086. Consequently, PI’s market capitalization has fallen below $950 million, positioning it as the 67th-largest cryptocurrency according to CoinGecko.

    Beyond PI’s price fluctuations, the focus for “Pioneers” today is also on the impending protocol upgrade, version 26. This update, reported last week, is expected to be finalized by August 11. The Pi Network Core Team has reminded Mainnet Node operators that they must upgrade to the new version by today to avoid potential disconnection from the network.

    The Core Team has previously emphasized the importance of version 26 as the final step before the ultimate upgrade to version 27. To date, eight successful network migrations have been completed this year. It is noteworthy that some of these upgrades have been implemented without official announcements from Pi Network. Therefore, version 26 could also be deployed quietly, though there has been no significant social media chatter regarding it as of press time.

  • UK Lawmakers Grill Banks on Crypto Account Bans

    UK Lawmakers Grill Banks on Crypto Account Bans

    Parliamentarians Query UK Banks on Crypto Account Access

    Lawmakers on Parliament’s Crypto and Digital Assets All-Party Parliamentary Group (APPG) have formally requested that the chief executives of all major UK banks outline their policies regarding crypto and digital asset firms.

    The inquiry, initiated by Labour MP Gurinder Singh Josan and Lord Vaizey of Didcot, a former minister for the digital economy, stems from numerous reports of crypto and digital asset businesses encountering significant hurdles in opening bank accounts within the UK. The group has also received accounts of several banks imposing restrictions on crypto-related transactions.

    “Access to banking services represents one of the most substantial impediments to the growth of UK crypto and digital asset businesses, and could potentially jeopardize the success of the UK’s upcoming crypto regime,” the co-chairs stated in their letter. They further cautioned that limited banking access could influence investment decisions for firms considering the UK market.

    The letter poses six specific questions to each bank: their current policy on crypto firms, the reasons for not serving such businesses if they are currently excluded, any transaction limits imposed on crypto-related activities, the underlying factors influencing these decisions, whether the forthcoming regulatory regime will alter their approach, and what measures the government or regulators could implement to assist.

    Josan and Vaizey acknowledged the legal obligations banks face in combating financial crime and safeguarding consumers. However, they highlighted that many firms contend that banking decisions should be based on an individual company’s risk profile rather than the sector in which it operates. Lord Vaizey described the current situation to the Financial Times as “an unnecessary piece of friction” for businesses and a notable obstacle for entrepreneurs establishing companies in the UK.

    Several prominent UK banks, including HSBC, Nationwide, NatWest, Santander, and Starling, have curtailed crypto-related payments in recent years. Research published in January by the UK Cryptoasset Business Council indicated that banks were blocking or delaying approximately 40% of attempted transfers to crypto exchanges.

    According to reports, banks cite an increase in crypto-related scams and the potential for retail customers to incur substantial losses due to market volatility as reasons for these measures. HSBC, NatWest, Monzo, and Nationwide reportedly impose monthly transfer caps of between £5,000 and £10,000 to crypto exchanges, while Starling and Chase UK have implemented outright bans. It is also noted that crypto losses are not covered by the Financial Services Compensation Scheme.

    HM Treasury has acknowledged the issue. Economic Secretary Lucy Rigby informed Parliament in March that under the new regulatory framework, the government “would not expect” FCA-licensed firms to face banking restrictions “simply because of the sector they belong to.”

    This letter follows the APPG’s formal inquiry into banking access, which commenced on July 21 and is currently accepting written evidence until August 31 before submitting its findings to the government. The co-chairs emphasized that the letter is not intended to pre-empt the outcomes of this inquiry. The Financial Conduct Authority (FCA) finalized its rules for the sector in June, with the new regime set to become mandatory in October 2027.

    The challenge of “debanking” for crypto businesses is not unique to the UK. In the United States, some firms have attributed a reduction in banking relationships to a perceived pressure campaign, which they refer to as “Operation Chokepoint 2.0.” In one instance, crypto exchange Kraken reportedly won $22 million from an auditor it claimed abandoned the company during this period.

  • Kuaishou USDT Perpetual Contract Launches with 25x Leverage

    Kuaishou USDT Perpetual Contract Launches with 25x Leverage

    Bybit Launches KUAISHOUUSDT Perpetual Contract

    Cryptocurrency exchange Bybit has announced the listing of the KUAISHOUUSDT Perpetual Contract, with trading now live and offering up to 25x leverage.

    The new contract is also accessible through Bybit’s Futures bots, including Futures Grid, Futures Martingale, and Futures Combo.

    The KUAISHOUUSDT Perpetual Contract is based on Kuaishou Technology (HKEX: 1024) as the underlying asset and settles in USDT. The contract features a tick size of 0.01 and a maximum leverage of 25x. The capped funding rate is set at 2%, with funding fees settled every 8 hours. Trading for the contract is available 24/7.

    Kuaishou Technology’s official website is https://www.kuaishou.com/.