Menu
MCAP $2.88T ▼-4.22%
BTC $84,720 ▼-1.68%
ETH $2,682 ▼-2.12%
BNB $768.37 ▼-2.45%
XRP $1.530 ▼-2.48%
SOL $115.77 ▼-1.08%
DOGE $0.0950 ▼-4.47%
ADA $0.241 ▼-4.02%
TRX $0.3401 ▼-0.36%
LINK $12.37 ▼-4.83%
AVAX $10.47 ▼-5.43%
HYPE $95.09 ▲+0.18%
DOT $1.120 ▼-3.88%

AI News

OpenAI rejects Robinhood’s tokenized equity product as illegitimate

OpenAI rejects Robinhood’s tokenized equity product as illegitimate

, , ,

EquitiesCrypto Coin Show News Team·July 2, 2025·3 min read

OpenAI’s explicit rejection of Robinhood’s tokenized equity product signals a critical divide between institutional blockchain adoption and permissionless tokenization of real-world assets without issuer consent. The clash underscores how regulatory arbitrage between U.S. and EU markets is creating unvetted claims on private company value.

  • OpenAI stated publicly that Robinhood’s tokenized shares do not represent real equity and that the company had no partnership with Robinhood on the offering.
  • Robinhood launched the tokens in the EU on Monday, offering eligible users €5 in OpenAI and SpaceX tokens by July 7, 2025, calling them “indirect exposure to private markets.”
  • U.S. investors are blocked from the product by stricter SEC rules, while the EU’s flexible framework allows trading despite the underlying companies’ lack of involvement.
  • €5 Token grant value per eligible EU user registering by July 7, 2025
  • $100+ Robinhood stock price after launch, marking a new record high
  • 0 SEC approvals granted for U.S. tokenized equity products to date

OpenAI on Wednesday directly challenged the legitimacy of Robinhood’s newly launched tokenized equity product, according to reporting on the dispute, warning that the tokens represent no claim on its actual shares and that the company approved neither the product nor any partnership with the brokerage. The statement, posted to X, made clear that any genuine transfer of OpenAI stock would require the company’s direct consent, a condition Robinhood did not meet. Elon Musk amplified the critique, stating on X that the equity is “fake,” raising the profile of the disagreement among retail and institutional crypto audiences.

Robinhood Launches EU Tokenized Shares While Calling Them Indirect Exposure

Robinhood introduced the tokenized offering Monday in Cannes as part of a broader blockchain expansion that also included staking services and new infrastructure. Eligible users in the European Union who register by July 7, 2025 receive €5 worth of OpenAI and SpaceX tokens at no cost, granting them trading access on Robinhood’s crypto platform.

The company’s share price surged past the $100 mark on the announcement, a fresh record.

Johann Kerbrat, senior vice president and general manager of crypto at Robinhood, framed the tokens as a pathway to private-market access for retail investors.

The company’s defense hinges on legally distinct positioning: the tokens offer “indirect exposure” rather than direct equity, made possible by Robinhood’s “ownership stake in a special purpose vehicle.” This structure sits within the EU’s investor protection framework, which permits the product where U.S. securities law does not.

SEC Has Blocked Domestic Tokenized Equity Products, Creating Regulatory Divide

U.S. investors remain excluded from the offering due to stricter Securities and Exchange Commission rules, which have not approved tokenized equity products for retail trading. The regulatory gap between jurisdictions has created a pattern: crypto platforms can offer products in more permissive regimes, here the EU, that would face immediate legal challenges in the United States.

The incident reflects a broader friction between blockchain infrastructure expanding access and the companies whose names and valuations are being tokenized without consent. Tokenized stocks have become central to DeFi infrastructure conversations, but this case shows that institutional legitimacy requires issuer participation, not merely platform innovation.

The CCS read. Robinhood’s regulatory arbitrage works legally but not morally; the product succeeds only because it operates where the SEC does not govern. An issuer’s ability to veto its own tokenization, and enforce that veto, may become the price of institutional adoption. Watch whether other companies follow OpenAI’s example and demand issuer-approved tokenization standards.

The open question is whether OpenAI will pursue legal action or regulatory complaint against Robinhood, and whether such action would force EU regulators to reconsider the framework permitting issuer-agnostic tokenization. Robinhood’s July 7 registration deadline and the EU’s response to OpenAI’s objection will determine whether this becomes a one-off or the first of many such conflicts.

Get this in your inboxThe Crypto Coin Show newsletter covers the policy and market moves institutional crypto investors are pricing in.

Subscribe

FCA unveils new changes to the UK’s financial advice market

FCA unveils new changes to the UK’s financial advice market

, , , , , , , , ,

The Financial Conduct Authority (FCA) unveiled plans to allow companies to offer consumers generic recommendations without complying with all the expensive rules around providing personalised advice.

This is one of the biggest shake-ups of investment advice for a decade. Millions of British savers will be granted access to “targeted support” under wide-ranging new rules to aid people’s quest for better returns on their money.

Barclays’ analysis shows that around 13 million adults in the UK are keeping about £430 billion in cash,  based on the savers who currently have more than six months’ income in savings, which could be invested.

Meanwhile, companies such as Hargreaves Lansdown and Vanguard have already started offering these services.

FCA unveils new changes to the UK’s financial advice market

The FCA described “a once-in-a-generation change” to the UK’s financial advice market. This change will allow companies to suggest to a group of people sitting on so much cash to consider investing some in shares to earn better returns over time.

The move comes more than a decade after the FCA’s Retail Distribution Review, which was intended to increase the quality of financial advice but has also made it more expensive for the population. This left many people unable to afford such services, resulting in an “advice gap”.

The FCA said the new regime is a remedy created to help more than half of British savers, who said in a recent survey that they needed further assistance investing their money.

Based on the regulator’s argument, 7million British adults have more than £10,000 in cash savings and no investments. Hence, people between 13.5 million and 30.6million might gain from this focused assistance. 

The regulator also said it would consult on developing rules for this new activity of targeted support by December, enabling companies to make generic offers to groups of consumers with similar characteristics.

This would no longer be caught by the burdensome requirements to give customers a “personal recommendation,” such as undertaking a fully detailed suitability assessment.

Apart from these new changes, the FCA also plans to introduce a second, more focused, category called “simplified advice.” In this category, firms will be able to make a suggestion on a financial product to a customer, subject to a short document detailing their “essential relevant facts” – without having to conduct the full suitability assessment.

Several prominent figures acknowledged the importance of the FCA’s proposal 

Several prominent figures have commented on FCA’s proposals. Dan Olley, chief executive of Hargreaves Lansdown, the UK’s largest “DIY” investment site, said the proposals will be genuinely transformational in cementing a healthy retail investment culture in the UK.

According to Olley, it was obvious that there are important moments in life when several people find themselves in the advice gap. He further elaborated that in this situation, one cannot afford financial advice but needs more help than the rules permit.

James Daley, a leader of the consumer group Fairer Finance, said the changes were moving in the right direction. However, he insists that these proposals must be put in place with strong consumer protections – and that customers should have confidence that these options will not lead to their exploitation.

Jon Cleborne, the leader of Vanguard in Europe, also commented on the topic of discussion. Cleborne highlighted that FCA’s proposals are important for helping more people enjoy the benefits of long-term investing and reach their financial goals.

Lastly, Verona Kenny, the chief distribution officer at Aberdeen Adviser, reported that over 40% of individuals acknowledged that they have done little to prepare financially for retirement. Based on her argument,  the new changes appear to be the best opportunity in a generation to address this issue.

Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now

Robinhood expands on crypto futures launched earlier this year

Robinhood expands on crypto futures launched earlier this year

, , , , , , , , , , , ,

Robinhood Markets is deepening its crypto push with the launch of micro-futures contracts for three major digital assets: Bitcoin (BTC), Ripple (XRP), and Solana (SOL). Announced on Friday, the move marks a significant expansion of the company’s crypto derivatives offerings.

The new contracts are part of Robinhood’s larger mission of bringing complex financial products to the masses of retail traders.

Micro futures allow traders to bet for or against the price action of digital assets with much less of an upfront investment. Each contract contracts at a smaller size than the standard size of a futures contract, thus allowing for smaller individual retail trading positions and a relatively low risk and lesser investment.

Per the announcement, micro Bitcoin Friday futures, micro XRP futures, and micro Solana futures are now listed on the platform. All contracts are cash-settled and traded almost 24 hours a day, five days a week.

“These products are intentionally built to be intuitive and user-friendly,” Robinhood said. “They help to democratize access to crypto futures markets for the everyday retail investor.”

With these new futures, Robinhood is looking to cater to an increasing portion of retail traders hungry for more flexible and diversified crypto trading options but do not want to jump to more sophisticated and expensive platforms like Binance or CME.

Robinhood expands on crypto futures launched earlier this year

Introducing these new futures comes on top of Robinhood’s derivatives products already on the market. In early 2024, Robinhood introduced crypto futures, with Bitcoin and Ethereum the first to be offered. Those were followed by micro Bitcoin and Friday futures — weekly contracts designed to capture Friday price volatility.

The new XRP and Solana futures offer Robinhood’s futures to four crypto assets. XRP and Solana are two of the most actively traded altcoins on the market. Their debut is an indication that there is an appetite for more diverse crypto derivatives than just Bitcoin and Ethereum.

Robinhood’s crypto futures contracts are fully cash-settled, so no actual crypto is delivered. This gives traders exposure to price without taking responsibility for wallets or custody.

The company has also slowly stepped up its futures offerings beyond crypto. The firm now enables trading in futures tied to indices, currencies, and commodities — all part of an overall shift to become a one-stop shop for modern investing.

Robinhood pushes global expansion after Bitstamp acquisition

And Robinhood’s push into crypto is also part of its broader global strategy. Previously, in June, it finalized its purchase of Bitstamp, one of the world’s oldest, most respected crypto exchanges, for about $200 million.

Bitstamp has a solid infrastructure, a growing international customer base, and relevant regulatory licenses in Europe, Asia, and elsewhere. Robinhood received over 50 active licenses and registrations with the acquisition, equipped to expand its crypto operations outside the US.

This is largely interpreted as a reaction to increasing competition in the global crypto sector. Large exchanges like Coinbase, Kraken, and Binance have widened internationally, especially in more crypto-friendly regulatory environments.

Robinhood is also considering the purchase of WonderFi, a Canadian digital asset platform backed by the investor and entrepreneur Kevin O’Leary. This particular takeover would further solidify their footprint in Canada and bring some DeFi to their existing offerings.

Robinhood CEO Vlad Tenev has been emphatic that his company views crypto as a long-term growth focus. Lately, he has described Robinhood’s vision to become a “financial super app” that does everything from stock trading to banking, crypto, and financial education.

Cryptopolitan Academy: Coming Soon – A New Way to Earn Passive Income with DeFi in 2025. Learn More

Anchorage faces criticism over stablecoin delistings

Anchorage faces criticism over stablecoin delistings

, , , , , , , , , ,

Anchorage Digital, a federally chartered crypto bank, is under fire after announcing it will delist several stablecoins, including the widely used USDC.

This week, the firm released a “Stablecoin Safety Matrix” that evaluates digital dollar tokens based on regulatory oversight and reserve quality. USDC, Agora USD (AUSD), and Usual USD (USD0) failed to meet the firm’s internal criteria and will be phased out.

Anchorage urged its institutional clients to switch to Global Dollar (USDG), a rival stablecoin issued by Paxos and supported by a consortium in which Anchorage itself is a founding member.

“Following our Stablecoin Safety Matrix, USDC, AUSD, and USD0 no longer satisfy Anchorage Digital’s internal criteria for long-term resilience,” Rachel Anderika, head of global operations at Anchorage, said in a statement justifying the decision.

She continued to say that they specifically identified elevated concentration risks associated with the issuer structures — something they believe institutions should carefully evaluate.

Stablecoin race heats up as lawmakers act and Circle defends USDC

Anchorage’s move comes amid a flurry of activity in the stablecoin world. Financial giants and crypto firms are vying for dominance in the $250 billion market, which Citi and Standard Chartered analysts predict could grow to the trillions.

Nordic lawmakers are trying to give stablecoin issuers regulatory accommodation as well. Recent developments came from the GENIUS Act, which the US Senate passed. White House crypto policy lead David Sacks has said the bill may become law by next month.

Despite Anchorage’s move, other stablecoin evaluators remain favorable toward USDC. S&P Global recently gave USDC a “strong” stability rating. The crypto-native ratings firm Bluechip gave it a B+ in economic safety.

Circle, which issues USDC, pushed back on Anchorage’s claims, defending its “long-standing compliance record” and full backing by fiat reserves. “We were the first stablecoin issuer to comply fully with the EU’s crypto regulations,” a spokesperson said.

Industry pushes back on Anchorage

Anchorage’s move has drawn sharp criticism from key players in the crypto space. Nick Van Eck, founder of Agora and the issuer of AUSD, accused the firm of spreading misinformation and failing to disclose its financial interest in USDG.

Nick Van Eck said he would have understood if Anchorage had delisted USDC and AUSD to prioritize stablecoins from which it profits. However, he criticized the firm for smearing competitors under the guise of safety, calling the move unserious.

Viktor Bunin of Coinbase, which co-launched USDC, also criticized Anchorage’s report and described it as a poorly executed hit piece.

Jan Van Eck, CEO of asset manager Van Eck and father to Nick, mocked the company’s safety matrix and suggested it was laughable, predicting that the firm might soon take it down.

Circle reiterated that regulated institutions back USDC and maintain robust liquidity and transparency. Other custodians also supported USDC and AUSD.

BitGo’s chief revenue officer, Chen Fang, said the company was not ceasing support for USDC.

Agora and Circle are longtime partners in AUSD, and Joshua Lim, co-head of markets at FalconX, said the firm can accommodate the needs of clients trading AUSD and USDC.

While Anchorage moves forward with its stablecoin revamp, it may face increased scrutiny of its motives and transparency. The stablecoin wars are not over — and trust, it seems, is the true currency at play.

KEY Difference Wire helps crypto brands break through and dominate headlines fast

Alibaba sharpens AI strategy with Qwen series

Alibaba sharpens AI strategy with Qwen series

, , , , , , ,

Alibaba Group Holding Ltd. introduced QwenVLo, its newest multimodal AI model, as the Chinese tech giant continues to bolster its footing in the growingly competitive global AI battle. 

The model allows users to create and edit images with text prompts and visual inputs, capabilities meant to be on par, or even compete with leading AI developers like OpenAI and DeepSeek.

QwenVLo is an improvement on Alibaba’s previous Qwen2. 5-VL baseline model and extends it to support new tasks such as text-to-image and image-to-image generation.

One standout feature is that of progressive generation, which means that users can see an image as it’s being built — a level of transparency and interactivity rare in most AI tools today.

“This newly upgraded model not only ‘understands’ the world but also generates high-quality recreations based on that understanding,” the company said in a blog post.

The firm explained that users can generate an image by sending a prompt, such as generating a picture of a cute cat, or modify an existing image by uploading a cat photo and requesting an edit, like adding a cap on the cat’s head.

Alibaba sharpens AI strategy with Qwen series

The push into AI is no longer a glam-up girl for Alibaba’s e-commerce dominance. The company has been aggressively working its way into AI since early 2024.

In February, Alibaba CEO Eddie Wu said that the e-commerce and IT behemoth would prioritize its work on artificial general intelligence (AGI). He stressed that developing AGI had now become Alibaba’s top priority, highlighting the rising significance of AI to the company’s growth and competitive edge in the future.

Alibaba has already launched a range of models under the Qwen brand, each tailored to a specific modality — text, image, video, and audio. QwenVLo replaces that mix of things and is built to perform on lower-end machines, including mobiles and personal laptops; however, unlike most state-of-the-art AI models, which still need loads of cloud computing power to run efficiently.

In March 2025, Quark released a new Quark app, which included the new Qwen functionality. Now, the app operates as an AI-powered smart assistant with search, summarization, and creative tools. It demonstrates Alibaba’s desire to build AI models and weave them into consumer-facing experiences.

Alibaba challenges DeepSeek and OpenAI in AI race

The release of QwenVLo by Alibaba coincides with a wave of AI-related initiatives worldwide. US-founded OpenAI has released GPT-4o, its most advanced multimodal model yet, which can understand and respond with text, images, and audio. 

Over in China, all eyes were on DeepSeek, a homegrown startup for whom cost efficiency is fast becoming a make-or-break challenge in AI development, as it claimed to have created a large competitive language model for just a few million dollars.

Tech titans all over China have since rushed out similar AI services that are faster, cheaper, and more versatile. One of its first serious entries is Alibaba’s Qwen Vlo, which has the potential to take on both its Western and Chinese competitors by delivering high-quality and low-weight multimodal functionality.

The race is now more about who can build the smartest model, but who can make that intelligence usable at scale.

Alibaba is betting that the types of people who use an app every day- students, designers, business owners, and developers- will flock to tools that are quick, simple to use, and optimized for various devices.

However, whether Qwen VLo is something marquee names dominate the users in the market is yet to be seen. But Alibaba has hammered the message: China is not just keeping pace with the world in the race for AI supremacy — it is determined to lead it.

KEY Difference Wire helps crypto brands break through and dominate headlines fast

Zak Folkman highlights growing interest in World Liberty Financial's stablecoin

Zak Folkman highlights growing interest in World Liberty Financial’s stablecoin

, , , , , , , , , , ,

World Liberty Financial Inc., a decentralized finance platform linked to the Trump family, is attracting significant interest from public companies exploring using its token as a treasury asset, according to co-founder Zak Folkman.

Speaking at the Permissionless crypto conference in New York on Wednesday, June 25, Folkman also announced the launch of the new World Liberty Financial App.

Folkman anticipates USD1 becoming the biggest stablecoin by market cap

Crypto treasury firms have become popular since the success of Strategy, the company Michael Saylor leads. The firm has over $60 billion worth of Bitcoin on its balance sheet and a market capitalization surging to over $100 billion.

Folkman noted that several companies admire Michael Saylor and his accomplishments. This is particularly true of his strategy and his promotion of companies keeping their crypto reserves.

Goodfood Market Corp., Semler Scientific Inc., and Trump Media & Technology Group Corp. are some companies that have revealed plans or started their own efforts to hold cryptocurrency. 

Meanwhile, companies are changing the Strategy Playbook by using alternative tokens instead of Bitcoin when implementing their plans. 

For instance, Upexi raised $100 million to purchase the Solana token last week to keep in its treasury, while Sharplink Inc. holds $425 million worth of the second-largest cryptocurrency, Ether.

Folkman also weighed on the future potential of World Liberty’s USD1 stablecoin, valued at approximately $2.1 billion. Notably, the largest stablecoin is USDT, from Tether, which has about $156.8 billion in circulation.

Based on Folkman’s speculations, they have tackled the challenges that a company will encounter, and now it is just a matter of time before USD1 becomes the biggest stablecoin by market cap.

He further anticipated that everyone would come to this conclusion when they witness several developments in the upcoming months.

With the Genesis Act, one of the main US stablecoin laws, set to pass into law, digital dollar-pegged assets have become even more attractive to investors.

Fintech firms adopt the growing trend of launching stablecoins 

Apart from public companies showing interest in stablecoins, fintech firms have adopted this trend and aim to follow World Liberty Financial’s lead in launching stablecoins.

Fiserv announced that it plans to release a stablecoin, amid increasing interest in the token from US companies as the cryptos move toward the mainstream.

The announcement followed the US Senate passing a milestone stablecoin bill that analysts said could represent a turning point in the crypto oversight debate and a breakthrough for a sector stuck in regulatory limbo for years.

The fintech company said its stablecoin, FIUSD, will be embedded into its existing banking and payments platform by the end of the year. The company added that FIUSD will use stablecoin infrastructure delivered from Paxos and Circle Internet.

Shares of Circle, the issuer of the second-largest stablecoin by market value, were up 15%, and Fiserv and PayPal were up 2.3% and 1.7% respectively.

Stablecoins are tied to currencies such as the US dollar and are meant to maintain a consistent value from reserves held. Once a niche corner of crypto, they have become popular for their ability to protect from price swings.

Fintech companies and traditional banks use stablecoins more frequently to make cross-border payments easier, speed up transactions, and expand access to digital finance. 

Analysts at TD Cowen mentioned that they view the launch as a sign of Fiserv’s skill in quickly innovating and utilizing its central role between banks and merchants to connect old and new payment systems.

KEY Difference Wire helps crypto brands break through and dominate headlines fast

Jeff Bezos is talking to Trump and pushing for more Blue Origin contracts

Jeff Bezos is talking to Trump and pushing for more Blue Origin contracts

, , , , , , , ,

Jeff Bezos is doing everything he can to replace Elon Musk as Trump’s go-to billionaire, and it’s working. According to Bloomberg, Jeff has already talked to President Trump twice this month, and Blue Origin CEO Dave Limp met with White House chief of staff Susie Wiles in mid-June.

In those meetings, Jeff and his space company pushed hard for more government contracts, using Elon’s public fall from grace as their opening.

The timing couldn’t have been better for Jeff. Earlier in June, Elon tore into Trump-backed legislation on X and even suggested starting a new political party. Days later, Trump pulled his support for Elon’s NASA nominee, Jared Isaacman, and warned publicly that Elon’s companies might lose their government deals.

“The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon’s Governmental Subsidies and Contracts,” Trump posted. “I was always surprised that Biden didn’t do it!”

Jeff offers Trump what Elon can’t

Elon used to be deep inside Trump’s circle. He helped with transition picks, ran a $250 million super PAC to support Trump’s re-election, and was behind Isaacman’s nomination to lead NASA. That’s gone now. The breakup cleared the way for Jeff, who’s wasted no time getting close.

Trump, who wants a crewed mission to the moon during his term, brought that up with Jeff in recent calls, Bloomberg reported. Blue Origin is aiming to land a cargo ship on the moon this year. That’s a strong pitch, but there’s still a problem: SpaceX is way ahead.

Blue Origin’s New Glenn rocket made it to orbit for the first time in January, but a second flight planned for spring never happened. The next shot is in mid-August. Meanwhile, SpaceX is expected to hit 170 launches in 2025. Most of those are for its satellite arm, Starlink, but many are also tied to government missions.

In April, the U.S. Space Force awarded SpaceX $5.9 billion for 28 upcoming launches. United Launch Alliance got less for 19. Blue Origin only landed $2.4 billion for seven. Elon’s rockets are proven and fast. Jeff’ rockets are still trying to catch up.

Limp has been pressing Blue Origin to speed things up and compete harder. The company is also aiming at several major future government contracts, including Trump’s “Golden Dome” missile-defense plan and upcoming Mars programs NASA has been asked to pursue.

Jeff repairs relationship with the White House

Jeff wasn’t always this close to Trump, as you may know. During Trump’s first term, the president accused Jeff of using the Washington Post to attack his presidency and even launched an investigation into Amazon’s Postal Service contracts, saying the company’s discounts were hurting the system. Trump also called Amazon a monopoly.

But that tension is fading. Jeff built connections with Ivanka Trump and Jared Kushner. He also backed the Washington Post’s decision not to endorse any candidate, blocking a planned editorial that would’ve supported Vice President Kamala Harris. That move didn’t go unnoticed. Trump has privately praised Jeff for stopping the endorsement, according to people close to him.

Jeff also brought cash. Amazon paid $40 million, nearly three times the next highest offer, for a documentary about First Lady Melania Trump. Over 70% of that money is going directly to her, as reported by The Wall Street Journal. And Amazon gave $1 million to Trump’s 2025 inauguration, where Jeff and his fiancée Lauren Sánchez were seated right behind the president.

Jeff even invited Trump to his wedding in Venice this weekend. Trump isn’t expected to attend, but the invitation itself was part of the charm offensive.

Jeff is doing what Elon can’t right now: keep Trump happy, feed his space ambitions, do as he says, and avoid drama. Whether that’s enough to push Blue Origin ahead of SpaceX in the government contract race is still unclear. But for now, the billionaire who once clashed with Trump is back in the room, and Elon is out.

Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now

Trump’s early Fed chair pick talk rattles dollar markets

Trump’s early Fed chair pick talk rattles dollar markets

, , , , , , , , ,

The dollar lost ground fast on Thursday after The Wall Street Journal reported that Trump might reveal his next Federal Reserve chair pick much earlier than expected.

Traders responded immediately in Asia as the US currency dropped against all its major peers. The news came after Trump said he’s unhappy with how current Fed Chair Jerome Powell has handled interest rates, believing he’s been too slow to cut them.

Trump’s early Fed chair pick talk rattles dollar markets
Source: Bloomberg

Trump is now considering making an announcement as early as September or October, while Powell’s term doesn’t end until May 2026.

According to the Journal, the names being floated inside the White House include Kevin Warsh, a former Fed governor, and Kevin Hassett, the director of the National Economic Council.

Both men have had previous ties to Trump’s circle, and the idea of naming a successor so early is already shaking investor confidence. Trump told reporters Wednesday he’s currently considering “three or four” potential replacements.

He’s openly criticized Powell’s recent decision to keep interest rates on hold, saying it’s keeping government borrowing costs high and hurting growth. Earlier this month, he said new names would be coming “very soon.”

White House sends mixed signals

Rodrigo Catril, strategist at National Australia Bank in Sydney, said Trump’s possible early announcement could “amp up the pressure” on Powell long before his term ends. “We could have a shadow Fed chair before May next year,” Catril said, adding that this kind of political pressure could push the dollar lower in coming weeks.

When asked about Trump’s intentions, the White House responded by saying the Fed should focus on growth-oriented monetary policy. Powell, for his part, insisted politics wouldn’t influence the Fed’s choices. 

“If we make a mistake here, people will pay…the cost for a long time,” Powell told lawmakers during a Senate hearing. He added that rate cuts are still possible later this year, but said the Fed would take a “careful approach.”

On the timeline, Larry Bessent, current Treasury Secretary, previously said interviews for the next chair wouldn’t begin until September. But that schedule might not hold. The Fed’s independence has been guarded since the 1970s, when President Nixon pressured the central bank for lower rates ahead of his reelection. That led to disastrous inflation that took years to fix.

Trump eyes Warsh, Bessent, and Malpass for top role

Trump has had Warsh on his radar for a while. He spoke with him earlier this year about possibly replacing Powell before his term ends. Warsh was also interviewed by Trump last fall for the Treasury job.

At a closed-door event in Boston this month, Warsh told a group of finance professionals, “I wouldn’t be shocked if the president made a nomination sooner than would be customary, just to…try to make a lame duck lamer or something like that.”

Still, there are concerns. Some of Trump’s aides worry Warsh could be a maverick. He’s long been seen as a policy hawk, more focused on fighting inflation than boosting employment.

When asked about that label in Boston, Warsh said, “My fatal flaw is I say what I believe. If the president wants someone who is weak, I don’t think I’m going to get the job.” He also took a shot at zero interest rates: “When things are free, when rates are zero, that leads to very bad economic outcomes.”

Warsh also praised Kazuo Ueda, head of the Bank of Japan, saying he’s “the most talented central banker on the planet right now.”

Then there’s Hassett, who’s reportedly told people he’s not interested in taking the job. That makes room for Bessent. Despite saying he’s committed to his current position, people familiar with both him and Trump say Bessent hasn’t ruled it out.

Speaking before Congress earlier this month, Bessent said, “I’m happy to do what President Trump wants me to do.” That loyalty matters—Trump barely knew Powell when he picked him in 2018 and now sees that decision as a mistake. He’s determined not to repeat it.

Trump has also been talking to aides about David Malpass, who ran the World Bank during his first term. Malpass has recently supported rate cuts and criticized the Fed’s internal models in a Journal op-ed. Those views line up with Trump’s. But in recent private dinners and lunches, Trump reportedly raised doubts over Malpass’s TV appeal, suggesting his appearance might not suit the role.

Cryptopolitan Academy: Coming Soon – A New Way to Earn Passive Income with DeFi in 2025. Learn More

Trump jokes about ‘daddy’ nickname, defends himself at NATO

Trump jokes about ‘daddy’ nickname, defends himself at NATO

, , , , , , ,

Donald Trump, speaking from The Hague on Wednesday, said the United States would make Spain pay double in ongoing trade talks after Madrid rejected a new NATO defense spending target of 5% of GDP. The threat came just hours after NATO leaders agreed to major defense spending increases that Trump had pushed hard for. But Spain publicly refused to meet the target, insisting it could fulfill its obligations without crossing that 5% line.

“I think their decision is very terrible,” Trump said. “We’re negotiating with Spain on a trade deal. We’re going to make them pay twice as much.” The statement, reported by Reuters, raised eyebrows because Spain, like other EU members, doesn’t make individual trade deals with the U.S.. Those negotiations are handled by the European Commission, representing all 27 member states. That means if Trump wants to carry out this punishment, he’d need to insert that language into a broader agreement with the entire European Union—something that would likely face major opposition.

Trump jokes about ‘daddy’ nickname, defends himself at NATO

Instead of focusing on Spain’s refusal, Trump spent a chunk of the summit praising his own impact on the alliance. “They said, ‘You did it, sir, you did it,’” Trump said. “Well, I don’t know if I did it, but I think I did.” He said this while smiling, clearly enjoying the attention from fellow leaders. When asked about NATO Secretary General Mark Rutte calling him “daddy,” Trump said it was “very affectionately.” Secretary of State Marco Rubio, standing behind him, tried not to laugh.

This summit was calmer than the ones Trump attended during his first term. Back then, meetings were tense, with European leaders uncertain about his loyalty to NATO’s collective defense clause. But on Wednesday, Trump said he no longer believed the alliance was a scam. “I left here differently,” he said. “I left here saying that these people really love their countries. It’s not a rip off, and we’re here to help them protect their country.”

Still, not everyone was pleased with how things unfolded. French President Emmanuel Macron, speaking after the summit, called out Trump’s trade threats. “We cannot, among allies, say that we must spend more…and wage a trade war,” Macron said. He added, “It is very important that we can return to what should be the rule within a group of allies…a true trade peace.” Macron was also the only leader to criticize Trump over his decision to hit Iran last week.

Trump says Iran attack was like Hiroshima, meets with Zelenskyy

At the press conference, Trump also talked about the U.S. military strikes on Iran, calling them “very, very successful—total obliteration.” He said media outlets like CNN and The New York Times had “demeaned” U.S. troops with their coverage. He added that intelligence reports backed the attack’s effectiveness. “We think we hit ‘em so hard and so fast, they didn’t get to move,” Trump said. “We destroyed the nuclear. It’s blown up…to kingdom come.”

He even compared the strikes to the nuclear bombings of Hiroshima and Nagasaki in 1945. “That ended the war, too. This ended a war in a different way, but it was so devastating,” Trump said. He claimed that bunker-buster bombs were used and insisted this cleared a path to peace in the Middle East.

Before stepping onstage, Trump held a private meeting with Ukrainian President Volodymyr Zelenskyy, which lasted nearly an hour. He described Zelenskyy as “very nice” and commended Ukraine’s fight. When asked if he’d approve more defense aid, Trump replied, “We’ll see what happens.” A Ukrainian journalist told him her husband was in the military. Trump responded directly, saying, “Vladimir Putin really has to end that war.”

At the very end, Trump was asked why he believed the latest ceasefire between Iran and Israel would hold. “They’re both tired, exhausted,” he said. “They were both satisfied to go home and get out.”

Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now

BitGo’s assets under custody jumped to $100B in H1 2025

BitGo’s assets under custody jumped to $100B in H1 2025

, , , , , , , , , , , , ,

The value of digital assets under BitGo Inc.’s custody has surged. BitGo’s vice president for its Asia-Pacific business, Abel Seow, said it had seen its assets under custody (AUC) rise from $60B to $100B in the first six months of the year.

It represents a 66% increase, demonstrating the growing appetite among institutional and retail players to participate in the crypto-economy. Seow said that the rise was driven by “peak retail interest” in crypto, increasing asset adoption, and greater regulatory clarity in major jurisdictions.

Crypto confidence is growing among investors, as is evident in the demand for secure and regulated custody services.

One big driver of the increase in BitGo’s assets is “staking,” which involves crypto holders locking up their tokens to help validate blockchain transactions and, in exchange, earn passive income.

Today, assets in BitGo Staking represent 50% of BitGo’s total holdings, where yield-based strategies are a core investment theme for modern digital asset holders.

BitGo expands into global markets

BitGo, which was established in 2013, initially offered secure wallets but has since developed into a one-stop shop crypto bank. In addition to custody, BitGo provides clients with the capabilities to trade, borrow, and lend digital assets. It has clients that include institutional investors and firms born on the blockchain.

Over the past year, the company has been growing quickly internationally. BitGo Korea was released in September 2024 with Hana Financial Group and SK Telecom, two of South Korea’s largest financial and telecommunications companies.

Seow said the joint venture is “progressing well” and has begun offering its services to high-net-worth clients and regional institutional participants.

Also, in early 2025, BitGo officially seeded its Dubai operations, entering the region’s growing digital asset ecosystem. Crypto stronghold Dubai has established itself as a burgeoning hub in its own right on the backs of business-friendly regulation and investor appetite.

BitGo’s growing reach reflects a larger trend in the industry; crypto firms no longer want to concentrate only on the US and Europe in traditional markets. Instead, they seek to go global to service local demand, particularly in areas where regulation is favorable and smartphone penetration rates are high.

BitGo plans IPO as crypto market heats up

Riding the wave, BitGo is getting ready for a potential public listing as soon as the second half of 2025, reports Bloomberg. The move would make the company part of an emerging wave of crypto-native firms seeking to tap into public markets, with renewed investor confidence and a more friendly regulatory environment pushing these firms into the spotlight.

BitGo’s IPO strategy is part of a wider trend related to a change in the US approach under President Donald Trump’s administration, which has been particularly friendly to crypto since returning to office.

BitGo was last valued in 2023 at $1.75 billion in connection with a $100 million capital raise. Returning to the underwriters, Goldman Sachs Group Inc., DRW Holdings, Redpoint Ventures, and Valor Equity Partners are all backers of the digital asset custody powerhouse, which means that it doesn’t exactly take a crystal ball to guess which four banks might be involved in the IPO.

During his tenure, there have been appointments of crypto-friendly regulators, an attempt to slide through stablecoin legislation, and even Trump’s projects into the digital asset arena.

There has been so much change in political tone compared to past governments, which makes it easier and more predictable for crypto companies planning to grow and compete for institutional money.

In its most recent round of financing, in 2023, Bitgo was said to have a value of $1.75 billion, according to reports, in connection with raising $100 million in capital. And back to the underwriters, Goldman Sachs Group Inc., DRW Holdings, Redpoint Ventures, and Valor Equity Partners are all backers of the digital asset custody powerhouse.

KEY Difference Wire: the secret tool crypto projects use to get guaranteed media coverage

Load More