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IBM Joins Swift's Blockchain: 17 Banks Already Piloting It
IBM Plugged Into Swift's Banking Blockchain Here's Who's Already On It: The world's biggest bank messaging network just quietly went blockchain and IBM wants in. On September 25 - 2026, IBM connected its Digital Asset Haven platform to Swift's blockchain-based shared ledger, currently in beta. The move lets banks move tokenized deposits across Swift's network using an ISO 20022 messaging adapter meaning banks can tap blockchain rails without ripping out their existing payment systems. Swift isn't a small player here. It connects over 12,500 financial institutions across more than 200 markets, moving the equivalent of world GDP every two to three days. So when Swift adds blockchain to that stack, banks pay attention. The First Live Transaction Already Happened HSBC and Standard Chartered beat everyone to the punch, completing the first live transaction on the ledger back in August proof the system works outside the lab. Meet the 17 Founding Banks Swift's ...
Visa Is Shutting Down the Meme Coin Credit Card Loophole
Buying meme coins with a credit card came with an unexpected perk: some users could earn ordinary credit card points and cash back on their crypto purchases. Visa is now moving to close that loophole. The issue centered on how meme coin purchases were classified by payment processors . Some Crossmint-powered checkouts used merchant category code (MCC) 5815 , a category intended for digital media such as movies, music and audiobooks, rather than a crypto-specific category. That meant a meme coin purchase could look to the card network like a normal digital-media purchase. How the loophole worked Users of Robinhood Wallet and Fomo could purchase certain meme coins using credit cards through Apple Pay or Google Pay. According to The Block's testing, transactions made with Visa and Mastercard cards were classified as digital-media purchases and could earn normal card rewards, including points and cash back. The classification mattered because crypto purchases are generally t...
Crypto Funds Just Posted Their Best Week of 2026 — $3.5B in a Single Week
"Bitcoin ETFs Go 5-for-5: Crypto Funds Hit Biggest Inflow Week of the Year" Digital asset investment funds pulled in $3.5 billion last week, according to CoinShares latest Digital Asset Bi-Weekly Digest the largest single-week inflow recorded in 2026. The surge pushed total assets under management across crypto funds to $173 billion globally. Bitcoin Led the Charge US spot Bitcoin ETFs were the standout performer, hauling in $2.39 billion and staying positive on all five trading days of the week. Ethereum products weren't far behind, adding $690 million over the same stretch. Together, these flows pulled year-to-date totals back into positive territory up to $8.6 billion for 2026 so far. What Sparked the Rally? CoinShares attributes the strength to the removal of uncertainty following the Federal Reserve's recent rate decision. Once the outcome became clear, investors who had been sitting on the sidelines started deploying capital again. The US Dominated But Who Else...
Upcoming IPOs Are Back. Here’s What Investors Should Beware Of
The IPO market is getting busy again, with major private companies across AI, fintech, technology, space and consumer businesses moving closer to public markets. Names such as OpenAI, Anthropic, SpaceX, Oura and Strava have appeared in the 2026 IPO pipeline, although the status and timing of individual listings can change. Some companies have filed, while others remain confidential filers or are simply being discussed as potential candidates. That creates an opportunity for investors to gain access to companies that were previously available mainly through private markets. But an IPO can also make it easier to buy into a company before the market has fully figured out what it is worth. The IPO price is not automatically a bargain One of the biggest mistakes investors can make is assuming that getting shares at the IPO price means getting in early at a cheap valuation. The IPO price is determined through the offering process and reflects what the company and its underwriters...
Vitalik Says AI Will Make Crypto More Secure
What if the same AI that helps hackers find vulnerabilities could also make your crypto harder to steal? That is the possibility Ethereum co-founder Vitalik Buterin is pointing to. He argues that AI could make software fundamentally harder to break by making formal verification practical at a much larger scale. Formal verification uses mathematical proofs to confirm that code follows specific security rules. Instead of relying only on testing to find bugs, developers can prove that certain parts of a program behave as intended. But Buterin says there is a bigger challenge. The Hardest Part Is Defining Security According to Buterin, defining what “secure” actually means is harder than verifying the code . A security definition needs to account for more than obvious bugs. It may also need to consider compromised servers, leaked keys, network attacks, metadata and hardware vulnerabilities. If an important threat is missing from the definition, a perfect mathematical proof will no...
Russia Just Put Crypto Behind a Three-Asset Gate
Russia is opening a regulated crypto market on September 1 . But for ordinary investors, the door isn't being opened to the entire crypto market. It's being opened to just three assets: Bitcoin, Ethereum and Tether's USDT . So why these three? The Bank of Russia created a strict eligibility filter based on market size, trading activity and trading history . A cryptocurrency must have: An average market capitalization above 5 trillion rubles Average daily trading volume above 1 trillion rubles At least five years of price history on foreign trading platforms The measurements are based on the preceding two-year period. Only BTC, ETH and USDT currently satisfy the requirements. Russia isn't choosing its favorites The interesting part is that the central bank isn't simply saying Bitcoin is trustworthy or Ethereum is important. It's effectively saying: If you're going to give ordinary investors regulated access to crypto, start with assets that...
Tim Cook Leaves Apple With a $4+ Trillion Question
After 15 years at the top, Tim Cook's time as Apple's CEO is coming to an end. When Cook succeeded Steve Jobs in 2011, Apple was worth roughly $350 billion . Today, the company is worth around $4.7 trillion more than 13 times it's value when he took over. That's an extraordinary transformation. But Cook's legacy isn't simply about making Apple bigger. Cook built a different Apple Job's was known for creating products that changed consumer technology. Cook's strength was different. He turned Apple's enormous product ecosystem into an increasingly efficient global business while expanding areas such as services, wearables and Apple Silicon . Apple also returned enormous amounts of capital to shareholders through buybacks and dividends during his tenure. The result was a company that became significantly more valuable without needing to reinvent the iPhone every year. Now comes the difficult part On September 1 , John Ternus will officia...
Bitcoin Is Still 20× Smaller Than Gold
Bitcoin is getting bigger, but it's still nowhere near gold's market cap. Gold's total market value is currently around $32 trillion , while Bitcoin sits near $1.6 trillion . That puts Bitcoin at roughly 5% of gold's market cap . To match gold, Bitcoin's market cap would need to grow by about 20× . With roughly 20 million BTC circulating, that would put Bitcoin near $1.6 million per coin assuming gold's market cap stays around today's level. The interesting part isn't whether Bitcoin reaches gold tomorrow. It's how much ground Bitcoin could close if institutional adoption keeps accelerating. 5% today. 100% would be a completely different financial landscape.
Ethena Just Changed the ENA Playbook
E thena is making a major change to how ENA works. The Ethena Foundation announced four proposed changes, including buying out locked seed-investor tokens, ending monthly VC unlocks from October 5, and transferring protocol intellectual property to the foundation. But the biggest change could be what's coming next. Ethena is proposing to direct 95% of net protocol revenue toward ENA buybacks . There's just one condition: USDe must reach $7.5 billion in supply. USDe currently sits around $4 billion, meaning the stablecoin needs significant growth before the buyback mechanism can activate. ENA jumped 23% in 24 hours following the announcement. If governance approves the proposal and USDe reaches the milestone, Ethena could turn protocol growth directly into persistent buying pressure for ENA . The number to watch isn't ENA's price. It's $7.5 billion USDe.
The SEC Just Sent It's Crypto Custody Rules to the White House
The SEC has sent a major proposed overhaul of its crypto custody rules to the White House for review. Submitted on August 25, 2026 , the proposal could provide clearer rules for investment advisers and funds holding digital assets for clients. The full proposal hasn't been made public yet. But we know which laws are at the center of it: The Investment Advisers Act of 1940 and the Investment Company Act of 1940 . The White House's Office of Information and Regulatory Affairs can request changes before the proposal returns to the SEC for consideration and a public comment process. The bigger picture? The SEC isn't just figuring out how to regulate crypto trading. It's increasingly working out how traditional investment firms can safely hold crypto for their clients. And clearer custody rules could make it easier for more institutions to enter the market. Crypto custody is becoming a Wall Street infrastructure issue.
Ethereum Is Preparing It's Staking System for the Quantum Era
Ethereum developers have filed a proposal that could eventually replace the network's current validator deposit contract and prepare staking for post-quantum cryptography. The reason is simple: Ethereum's existing validator system relies heavily on BLS cryptography , and quantum computers could eventually threaten it. That's not purely theoretical. Google Quantum AI researchers have identified five potential attack paths against Ethereum using quantum computing. The proposal would expand key-size limits so Ethereum can support larger, quantum-resistant cryptographic formats. But there's one particularly important mechanism: The one-way switch The proposal includes an irreversible switch that would permanently stop the deposit contract from accepting new validators using the old BLS credential format. Once activated: BLS deposits stop → newer credential formats take over. That's significant because around 42.4 million ETH , worth roughly $104 billion , ...
Kalshi Just Raised $1.12 Billion — And It's Valuation Is Moving Fast
Trade On Anything Kalshi has just raised a staggering amount of money. According to an SEC Form D filing, the prediction-market company has raised $1.12 billion from 71 investors since April . The company confirmed that the money is tied to its Series F , which valued Kalshi at $22 billion . But that valuation might already be looking outdated. Investors are betting big on prediction markets Kalshi's Series F was led by Coatue , with major participation from firms including Sequoia Capital, Andreessen Horowitz (a16z), IVP, Paradigm, Morgan Stanley and ARK Invest . That's a notable mix. It's not just traditional venture capital. It's also major financial institutions and investors positioning themselves around a market that has moved from crypto-adjacent experimentation into something much bigger. And another $750 million could be coming Separate reports say Kalshi is in advanced discussions to raise another $750 million at a valuation of approximately $40 b...
Optimism Just Redirected 546.9 Million OP Tokens — And the Vote Is Raising Questions
OP Tokens Optimism's latest governance decision isn't getting attention simply because 546.9 million OP is a lot of tokens. It's getting attention because of how the decision was made . On August 20 2026, a governance proposal passed to move 546.9 million OP tokens originally allocated for future user airdrops into the Optimism Foundation's Strategic Ecosystem Fund . The vote came down to the wire. One delegate changed the outcome With roughly 17 minutes left, the proposal was still below the approval threshold. Then Test in Prod voted 8.486 million OP in favor and that single vote pushed the proposal over the line. And there's an important detail here: Test in Prod is funded by the Optimism Collective. That's why the vote has sparked criticism. The focus question isn't necessarily whether Test in Prod was allowed to vote, because It was. The question is whether a delegate funded by the ecosystem should have enough voting power to effectively dete...
From Stock Fraud to a $24M Crypto Ponzi
Brent Kovar's crypto case wasn't his first encounter with financial fraud allegations. In 2009 , the SEC sued Kovar over an alleged $12 million pump-and-dump scheme involving SkyWay Global. According to the SEC, Kovar and his associates promoted false claims about the company's business, helping inflate its stock price and trading volume before selling 76.65 million shares for more than $12 million in profits . Fast-forward to 2026, and a federal jury has convicted Kovar over a $24 million crypto Ponzi scheme through Profit Connect. The alleged pitch had simply evolved: From hyping a stock → to promising AI-powered crypto mining. Different technology. Same old promise of easy money.
LayerZero Just Unveiled ATLAS — And Wall Street Is Already Involved
LayerZero has unveiled ATLAS , a new “headless exchange” infrastructure designed to bring trading, clearing, settlement and risk management into a single on-chain system. What makes it interesting isn't just the technology, it’s who is involved . The underlying Zero blockchain has attracted collaboration from some of traditional finance's biggest institutions, including Citadel Securities, DTCC and Intercontinental Exchange (ICE) , alongside ARK Invest and Google Cloud. That means ATLAS isn't being positioned simply as another crypto exchange, It is targeting global capital markets . The infrastructure is designed to support everything from spot crypto and perpetuals to stocks, bonds and prediction markets , with LayerZero targeting extremely high throughput and low-latency execution. There's also a direct connection to the ZRO token . LayerZero says 75% of net trading fees will be used to buy and burn ZRO , creating a mechanism that could connect the success of...
Bitcoin's Bull Score Is Flashing Green — But There's a Warning
Bitcoin's CryptoQuant Bull Score Index has jumped from 30 to 80 , its highest level since October 2025. Eight of its 10 indicators are now bullish. But there's a warning hiding underneath the optimism. Trader unrealized profit margin has reached 20.5%. That matters because a similar spike preceded Bitcoin's roughly 30% decline in May 2026 . Meanwhile, short-term holder whales took around $1.2 billion in profits between August 20 and 22, while exchange inflows reached their highest level since June. So despite the bullish score, traders are already taking money off the table. CryptoQuant says Bitcoin needs a weekly close above $83,000 to confirm a full bull-market signal. Bullish? Yes. Risk-free? Definitely not. The next Bitcoin move could depend on whether buyers can absorb the profit-taking without losing momentum.
Pakistan Just Gave Crypto Companies a Deadline: Get Licensed or Leave
Pakistan is no longer treating crypto regulation as a future conversation. The country's Virtual Assets Regulatory Authority (PVARA) has opened its licensing portal, giving existing crypto businesses a clear deadline: September 5, 2026 . If virtual-asset service providers that were already operating by March 5 do not submit a No-Objection Certificate (NOC) application by then, they must cease operations. From uncertainty to a rulebook Pakistan's new framework operates under the Virtual Assets Act, 2026 , establishing PVARA as the regulator responsible for licensing and supervising the country's virtual-asset industry. The framework isn't limited to crypto exchanges. It covers activities including: Exchange services Custody Broker-dealer services Advisory Lending and borrowing Derivatives Asset management Token issuance Virtual-asset transfers Mining-related services In other words, Pakistan is attempting to regulate the business infrastructure su...
BitMine Is Getting Very Close to Owning 5% of Ethereum
BitMine is getting closer to one of the biggest accumulation targets in crypto. The company just purchased another 32,447 ETH , worth roughly $81 million , bringing its total Ethereum holdings to about 5.85 million ETH . That represents approximately 4.8% of Ethereum's total supply . BitMine's target? 5%. It now needs roughly 187,000 more ETH to reach that milestone. The bigger story isn't simply how much ETH BitMine has bought. It's what happens when a single public company controls a stake equivalent to roughly one-twentieth of Ethereum's supply . BitMine is turning Ethereum accumulation into a corporate treasury strategy and it's getting very close to its target. The 5% milestone is now within reach.
Can $2.6B in Weekly ETF Inflows Sustain Bitcoin’s Rally Above $75K?
Bitcoin’s latest rally is being backed by strong institutional demand, with U.S. spot Bitcoin ETFs recording approximately $1.92 billion in net inflows between Aug. 17 and Aug. 21. When combined with Ethereum ETF inflows, the weekly figure reached roughly $2.6 billion. Bitcoin is trading around $77,096, up 21.8% over the past seven days, while Bitcoin ETF assets under management have climbed 10%. The numbers suggest that institutional demand is playing an important role in the move above $75,000. However, ETF inflows alone do not guarantee that Bitcoin will remain above that level. Strong Demand Meets Rising Leverage The rally is also accompanied by a sharp increase in market leverage. Bitcoin open interest has risen roughly 27% over the past week, while funding rates remain positive. That creates both an opportunity and a risk. Positive funding and rising open interest can reinforce an upward move when prices continue climbing. But if Bitcoin reverses, highly leveraged positions...
Bitcoin ETFs & Institutional Investment
U.S. spot Bitcoin and Ether ETFs just recorded their strongest weekly performance in months, attracting a combined $2.6 billion in inflows during the week ending Aug. 21. The surge marks a major reversal from the previous week, when the two markets experienced approximately $392 million in combined outflows . Bitcoin ETFs accounted for the majority of the latest inflows, with about $1.92 billion entering the products throughout the week. Institutional Demand Returns BlackRock’s iShares Bitcoin Trust (IBIT) was among the biggest contributors to the surge. The fund alone attracted approximately $503 million on Thursday , highlighting the strength of institutional demand during the rally. The renewed inflows come as Bitcoin and Ether both posted significant weekly gains, climbing roughly 24% and 28% , respectively. At the same time, combined ETF trading volume tripled to around $29 billion , signaling a sharp increase in investor activity. The numbers suggest that the latest ...
AI Stocks Have a New Problem: Investors Want Their Money Back
The AI boom has been one of the biggest forces in the stock market. But investors are beginning to ask a different question. Not “How much more can companies spend on AI?” But: “When does all this spending start producing returns?” That question is becoming harder to ignore after Alibaba announced a $10.2 billion share sale to finance its AI expansion — and investors promptly sent the stock lower. Alibaba just gave investors a warning Alibaba plans to issue 710 million new shares , equivalent to roughly 3.6% of its enlarged share capital, with the proceeds dedicated to AI infrastructure, chips, models and other capabilities. The offering was priced at HK$112.70 per share, an 8.4% discount to the previous closing price. Despite strong demand for the deal, Alibaba's shares fell sharply. Why would investors sell a company that is raising billions to participate in one of the world's biggest technology trends? Because AI spending has a cost . Alibaba's latest quart...
Yong Social Morning Brief
The Market Has a Lot to Prove This Week Global markets are starting the week cautiously, with investors facing a packed calendar that could determine the direction of stocks, bonds and crypto. 🤖 Nvidia takes center stage Nvidia reports earnings on Wednesday , giving investors their next major test of whether the AI boom is still strong enough to justify massive technology valuations. A strong outlook could reignite tech stocks. A disappointment could trigger another wave of selling. 🏦 All eyes on the Fed The Jackson Hole symposium begins Thursday, with Fed Chair Kevin Warsh scheduled to speak Friday. Investors will be looking for clues about interest rates and inflation — especially while long-term Treasury yields remain elevated. 🛢️ Oil remains a wildcard Brent crude is around $93 a barrel after slipping at the start of the week. Lower oil would ease inflation concerns, but geopolitical risks could quickly push prices higher again. ₿ Bitcoin is holding strong ...
The SEC Just Changed the Crypto Game — And Most Traders Haven’t Realized It Yet
Bitcoin's price is getting most of the attention in crypto right now. But something potentially much bigger happened this week in Washington. On August 18, the U.S. Securities and Exchange Commission (SEC) proposed a new framework called “Regulation Crypto Assets” that could fundamentally change how some crypto projects raise money, launch tokens and eventually transition their tokens away from being treated as investment contracts. And the timing is particularly interesting. Because Congress is simultaneously trying to pass the CLARITY Act , which would create a broader statutory framework for digital assets. In other words, America's crypto rulebook is being rewritten from two directions at once. A potential new fundraising route for crypto projects One of the most significant parts of the SEC proposal is what it could mean for token issuers. The proposed framework creates two exemptions from traditional Securities Act registration requirements for qualifying cryp...
Yong Social Morning Brief
5 Things That Could Move Global Markets This Week Global markets are heading into one of the most closely watched weeks of the month, with Nvidia earnings, inflation data and the Federal Reserve's Jackson Hole symposium arriving within days of each other. Last week already gave investors a warning: rising long-term bond yields are beginning to challenge the stock-market rally. The U.S. 30-year Treasury yield reached its highest level since 2007, while the Nasdaq fell 2.8% and the S&P 500 declined 1.4% for the week. But while stocks struggled, Bitcoin and gold moved higher. Here's what matters this week. 1. Nvidia has to prove the AI boom is still real On August 26 , Nvidia reports its second-quarter results. The company has become one of the most important companies in global markets because its earnings are now effectively a report card for the entire AI infrastructure boom. Investors aren't just asking whether Nvidia made money. They're asking whether ...
Yong Social Morning Brief
The Global Market Warning: 5 Things Investors Need to Watch Next Week Global markets just finished a turbulent week. U.S. stocks managed to rebound on Friday, but the recovery did little to erase the week's bigger concerns. Bond yields remain elevated, oil is still creating inflation risks, gold and Bitcoin have surged, and investors are heading into a week packed with events capable of reshaping market expectations. For investors, the most important question isn't simply where markets ended this week . It's what the next week could reveal about the direction of the global economy. Here are five things to watch. 1. The bond market is still sending a warning The biggest story beneath the surface remains the global bond market. The U.S. 30-year Treasury yield reached its highest level since 2007, while the 10-year yield remained around 4.7% . Higher long-term yields mean higher borrowing costs for governments, businesses and consumers — and they can put pressure on st...