Key Takeaways Binance is partnering with BBVA to offer off-exchange custody of clients’ assets. The collaboration with BBVA follows regulatory pressures and aims to strengthen trust in crypto trading. Share this article Binance is joining forces with BBVA, Spain’s second-largest bank, to deliver off-exchange asset custody services in an attempt to give customers a safer way to store and manage their crypto assets, the FT said Friday, citing people with knowledge of the custody arrangement.Under the custody structure, customer funds are held by BBVA in US Treasuries, and Binance accepts these Treasuries as margin for trades on its exchange. In…
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Google announced on Friday that it’s giving Google Finance, its tool that provides financial information and business news, an AI update. Users will now be able to research their financial questions with AI, access advanced charting tools, and get real-time data and news. With the update, users can now ask detailed questions about finance and get a comprehensive AI response that includes links to relevant sites. Instead of having to look up individual stock details, users can ask complex questions in one go. As for the new charting tools, Google says these “will help you visualize financial data beyond simple…
Key Takeaways Chinese regulators instructed brokerages and think tanks to cease promoting stablecoins due to fraud concerns. Despite a crypto ban, over-the-counter digital asset trading in China reached $75 billion in early 2024. Share this article Chinese financial regulators have instructed local brokerages and think tanks to cease promoting stablecoins through studies and public events amid concerns that the digital assets could be exploited for fraud, Bloomberg reported Friday, citing people with knowledge of the matter.Regulators were said to have issued guidance in late July and early August urging the groups to call off seminars and halt the dissemination of…
Even after collecting more than 40% in the months of May and July, the $4,000 level remains elusive for Ethereum. The fact that Altcoin was unable to clear this level indicates that this is a resistance to beat as Ethereum continues its uptrend. It also shows that Altcoin has the power to keep this $4,000 from breaking, and one market expert has a unique interest in keeping the price under $4,000, due to a hedge fund. Ethereum over $4,000 makes sense for options traders At X Post, trader and market analyst Glengoodman has announced another angle against the beatdown, which…
Key Takeaways The SEC and Ripple have agreed to withdraw their appeals in the XRP litigation, ending a major phase of their legal battle. The district court’s ruling that XRP sales on public exchanges are not securities transactions remains in effect. Share this article The US Securities and Exchange Commission (SEC) and Ripple Labs have filed to dismiss their respective appeals in the long-running XRP case, a move that will formally close one of the highest-profile crypto enforcement actions in crypto history, the SEC announced Thursday.In an Aug. 7 joint stipulation lodged in the US Court of Appeals for the…
Robert Keele said this week that he has stepped down as xAI’s head of legal after just over a year, saying he wants to spend more time with his children. In his announcement, Keele also acknowledged “daylight between our worldviews” with boss Elon Musk, who hasn’t commented on Keele’s exit. “I love my two toddlers and I don’t get to see them enough,” Keele wrote, posting the news on both X and LinkedIn. Despite calling his time at the AI startup “incredible” and working with Musk “the adventure of a lifetime,” he said he couldn’t keep “riding two horses at…
Key Takeaways Stephen Miran, a Bitcoin advocate and current CEA chair, has been nominated by Trump as a temporary Fed governor. Miran supports pro-crypto innovation and is critical of excessive financial regulations. Share this article Stephen Miran, chair of the Council of Economic Advisers (CEA), known for his pro-innovation and Bitcoin views, will temporarily join the Federal Reserve Board after President Donald Trump named him to replace Adriana Kugler, who is set to step down on Friday. “It is my Great Honor to announce that I have chosen Dr. Stephen Miran, current Chairman of the Council of Economic Advisors, to…
Key Takeaways President Trump issued an executive order prohibiting financial institutions from debanking based on political or religious beliefs and lawful business activities. The order also addresses banking restrictions faced by crypto companies, requiring federal regulators to review and remediate discriminatory policies. Share this article President Donald Trump on Thursday issued an executive order that seeks to prevent financial institutions from cutting off accounts or services based on political, religious biases, or lawful business activities.The order is aimed at ensuring fair access to financial services for all Americans. It focuses on eliminating discriminatory ‘debanking’ practices and enforcing objective, risk-based banking…
Key Takeaways OpenAI has launched GPT-5, its most powerful AI model yet, bringing significant gains in reasoning, accuracy, safety, and real-world usefulness across domains. The model is now the default in ChatGPT, with Pro subscribers getting access to GPT-5 Pro. Share this article OpenAI has rolled out GPT-5, its latest AI model featuring enhanced capabilities across coding, math, writing, health, and visual perception tasks.The company promotes the new system as highly capable and user-friendly, featuring built-in reasoning that enables it to tackle complex tasks and deliver expert-level intelligence to all users.The unified system also comes with a smart router that…
Tesla is breaking up the team behind its Dojo supercomputer, ending the automaker’s play at developing in-house chips for driverless technology, according to Bloomberg. Dojo’s lead, Peter Bannon, is leaving the company, and the remaining team members will be reassigned to other data center and compute projects within Tesla, per Bloomberg’s reporting which cited anonymous sources. The disbanding of Tesla’s Dojo efforts follows the departure of around 20 workers, who left the automaker to start their own AI company called DensityAI. The new startup is reportedly coming out of stealth soon and is building chips, hardware, and software that will…