Tag: digital

CFTC explores allowing spot crypto trading on futures exchanges in new initiative

admin — Tue, 05 Aug 2025 02:42:36 +0000

The agency recently launched 'Crypto Sprint' to implement suggestions from the digital asset report from President Trump's working group.

Simon Property Keeps Betting on Premium Locations as Retail Occupancies Rise

admin — Tue, 05 Aug 2025 00:07:29 +0000

In a commercial real estate environment still grappling with inflationary pressures, evolving consumer behavior and global economic uncertainty, observers would be forgiven for embracing prevailing narratives about the death of brick-and-mortar retail.

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But as uncertainty prevails, some firms are finding their footing by leaning on a combination of disciplined capital allocation, high-quality assets and strategic growth investments.

That was the news Simon Property Group’s executives shared on Monday (Aug. 4) during the company’s second quarter 2025 earnings call, stressing that that scale, location and operational rigor can yield durable financial results.

“We delivered another successful quarter, driven by the quality of our portfolio and disciplined execution,” said Simon Property Group President and CEO David Simon. “Our strategic investments and A-rated balance sheet position us for sustained long-term cash flow growth.”

The company’s management raised its full-year 2025 guidance, setting Real Estate FFO between $12.45 and $12.65 per share. The upward revision reinforces Simon’s narrative: even amid macro turbulence, its diversified real estate platform continues to generate steady cash flow.

Consumer Expectations and the New Retail Equation

Even as inflationary concerns and high interest rates continue to pressure household budgets, shoppers are still engaging with in-person retail — particularly in premium, well-located centers.

At the property level, Simon’s U.S. Malls and Premium Outlets segment, which accounts for over 70% of Net Operating Income (NOI), demonstrated renewed strength. Occupancy reached 96% as of June 30, an increase of 40 basis points year-over-year.

Base minimum rent per square foot climbed to $58.70, a 1.3% increase, while reported tenant sales per square foot rose to $736, suggesting continued consumer engagement with physical retail experiences.

Geographically, Simon’s NOI remains concentrated in high-income, high-tourism states. Florida (19.2%), California (13.8%) and Texas (10.2%) represent the lion’s share of U.S. contributions, positioning Simon to benefit from population migration trends, international tourism rebounds and luxury spending resilience.

In June, Simon acquired its partner’s interest in the retail and parking components of Brickell City Centre in Miami, consolidating full ownership of the high-profile urban asset. While terms were undisclosed, the move underscores Simon’s appetite for trophy properties in gateway markets. Brickell’s dense urban footprint and proximity to affluent consumers align with Simon’s broader strategy of controlling iconic assets in prime locations.

The continued rise of eCommerce is no longer viewed as a death knell for physical retail but as a catalyst for transformation. Simon’s strategic equity stakes in digital platforms and hybrid retail operators like Rue Gilt Groupe and Catalyst Brands indicate a willingness to straddle both worlds. Consumers today aren’t choosing between online and in-person — they want both, seamlessly.

The PYMNTS Intelligence report, “2024 Global Digital Shopping Index,” gleaned insights from a survey of nearly 14,000 consumers across seven countries about their omnichannel buying behaviors and preferences. The results revealed roughly four in 10 consumers are now Click-and-Mortar shoppers, favoring purchasing journeys that combine the digital and the physical over pure-play brick-and-mortar or eCommerce.

Navigating Sector, Macro and Global Headwinds

As macro uncertainties persist, the strength of Simon’s Q2 may be less about beating expectations and more about restoring belief in the resilience of the American shopper.

Yet despite its strong fundamentals, Simon is not insulated from structural and cyclical risks. The competitive threat of eCommerce persists, particularly in commodity retail categories. Lease renegotiations, tenant bankruptcies and mall footfall volatility remain watch points, per the company’s investor call.

Simon leadership also flagged global risk factors, including geopolitical instability, supply chain disruptions and foreign currency volatility, given its exposure to Europe and Asia.

Management acknowledged these headwinds but pointed to diversified income streams, tier-one property locations and disciplined cost management as key buffers.

Ultimately, the broader retail narrative may remain muddied by disruption and doubt, but Simon Property Group’s results underscore that where consumer confidence intersects with quality, retail may be both viable and vibrant.

The post Simon Property Keeps Betting on Premium Locations as Retail Occupancies Rise appeared first on PYMNTS.com.

Debit Volumes Surge as Consumers Embrace Flexible Credentials

admin — Mon, 04 Aug 2025 23:35:12 +0000

On Wednesday (July 30), PYMNTS CEO Karen Webster wrote: “The most important credential that has emerged for enabling payment and purchase flexibility is not a new type of credit card. It’s the debit card.”

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Debit has been a key choice for using the funds on hand to get what one needs, and wants, especially in brick-and-mortar locations, without bumping up against credit limits or taking on additional debt.

At the end of last year, PYMNTS Intelligence found that when it comes to face-to-face transactions, consumers favor debit cards, with 42% using a debit card for their last retail purchase. Meanwhile, just 28% used a credit card. In other words, consumers are 50% more likely to use debit cards than credit cards in physical retail locations.

There’s also the appeal of paying over time, Webster wrote last week, as “a purchase divided into four or six or 12 or 24 equal payments becomes a known quantity. That pay-later-and-at-any-pace structure is appealing to anyone managing a tight or unpredictable budget. That would be many of the roughly 68% of U.S. consumers who report living paycheck to paycheck … debit BNPL is inclusive, serving those who can’t or won’t get a credit card.”

Those musings are being borne out by data and commentary disclosed in recent days as part of the earnings season deluge.

Debit Volumes Surge

In Visa’s most recent earnings results, payments volume growth in nominal terms was 9% in the fiscal third quarter. Credit volume was up 7%, outpaced by debit, which grew by 10%. In the U.S., debit growth was 7%, compared to credit at 6%.

For Mastercard, supplemental materials revealed that worldwide debit volumes were up 11.2%, and credit volumes gathered 7.4% as measured by gross dollar volumes. In the United States, debit volumes slightly outpaced credit at a respective 6.4% and 6%.

During the conference call with analysts, Visa CEO Ryan McInerney stated that into the end of July, “even with the continued uncertainty, consumer spending remains resilient. Within the U.S., while spending growth differed among consumer spend bands, all spend bands in Q3 remained resilient and consistent with past quarters.”

In terms of the payments modalities themselves, flexible credentials may give tailwind to debit spending (in Visa’s case, the Visa Flexible Credential’s default funding source upon rollout has been debit, per these merchant FAQ details).

As McInerney said on the call, total credentials were up 7% year over year, marking the ninth consecutive quarter of at least 7% growth.

“As we continue to transform Visa cards for a more digital future, our flex credential is an important solution. We have seen interest across various use cases such as buy now pay later, small business, multi currency and more,” he said.

Klarna, as PYMNTS has reported, will be launching a Klarna card powered by the payment network’s flex credential in both the U.S. And Europe. Visa has expanded the flexible credential geographically with inaugural clients in Vietnam, the Philippines and Bangladesh.

During Mastercard’s call, CEO Michael Miebach commented: “We’ve deployed the Mastercard One credential as a network-level capability worldwide, enables issuers to offer a single digitally connected credential to give consumers flexibility as to how they want to pay — debit, credit, prepaid, installments or stablecoin — through their banking apps.”

There’ll be more detail on what we might call the “mashup” between debit, buy now, pay later (BNPL) and the embrace of flexible payment options when BNPL firms like Affirm report results in the coming weeks — as the debit card continues to evolve as a key payment of choice.

Debit volumes, as reported by Mastercard and Visa, are outpacing credit metrics, offering up evidence that consumers want to spend the funds “on hand.”
Management at the payment networks noted that flexible credentials are gaining traction as users value the ability to toggle between payment methods housed at a single bank, including BNPL and debit functions.
PYMNTS CEO Karen Webster recently wrote that paying over time, with a debit card, is emerging as a key payment choice in the paycheck to paycheck economy.

The post Debit Volumes Surge as Consumers Embrace Flexible Credentials appeared first on PYMNTS.com.

Saylor Explains Strategy’s Goals After Its Third-Largest Bitcoin Purchase

admin — Mon, 04 Aug 2025 23:28:43 +0000

Strategy (previously MicroStrategy) recently conducted its third-largest Bitcoin purchase in terms of dollar cost. The firm made this move shortly before revealing its huge successes in Q2 2025, indicating its steady long-term commitment.

Chairman Michael Saylor recently appeared in an interview, explaining his vision for the company’s future. Despite BTC’s slight drop last week, he remains confident in a multi-decade vision for crypto.

Strategy Keeps Buying Bitcoin

Strategy has been a pioneer with its Bitcoin treasury technique, specifically becoming the world leader of corporate crypto acquisition.

After months of consecutive stock offerings and ambitious purchases, the firm made its third-largest buy by US dollars last week. Outpacing the firm’s biggest moves in 2025, this signaled a firm commitment.

Strategy Bitcoin Purchases Ranked. Source: Strategy

Strategy’s latest Bitcoin acquisition is quite impressive for a few reasons. First of all, this happened towards the tail of a highly profitable quarter for the firm, which followed a bleak posting in Q1 2025.

Strategy continued buying before its new net income was fully realized. Second, Bitcoin’s price momentarily fell shortly after this purchase, for unrelated reasons.

What’s Next for MicroStrategy’s Bitcoin Strategy?

To explain his unorthodox moves, Strategy Chair Michael Saylor agreed to an interview to discuss this ambitious Bitcoin purchase.

His comments were very enthusiastic, brushing off any minor price setbacks as usual.

“This is digital capital. If you’re using traditional treasuries as capital, you’re underperforming the S&P 500 by 10% a year. You’re burning money. If you’re using Bitcoin, you’re outperforming the S&P by something like 40% a year. The more capital you raise [and] hold, the faster you create shareholder value,” Saylor claimed.

In essence, Saylor downplayed the possible risks of Strategy’s Bitcoin purchases, envisioning a scenario where retail traders will continually buy stock to reap higher gains.

Rather than claiming that the firm will hodl its assets forever, Saylor offhandedly mentioned wanting to custody BTC for 21 years. Meanwhile, these stock sales generate massive yields.

Also, Saylor was asked if he’d consider investing in any altcoins, and he praised the TON ecosystem in response. He saluted TON’s technical innovations and enthusiastic community, but Saylor is firmly in the BTC maximalist camp.

Whatever happens next, Saylor isn’t getting off this train any time soon. He spoke of Strategy investors’ desire to use Bitcoin to achieve 2x gains, but claimed it has much more potential.

For now, the company will remain a standard-bearer of corporate confidence in BTC through thick and thin.

The post Saylor Explains Strategy’s Goals After Its Third-Largest Bitcoin Purchase appeared first on BeInCrypto.

Marcello Coppo Discusses Italy’s Bitcoin Reserve Ambitions, Crypto Tax, and More

admin — Mon, 04 Aug 2025 23:18:58 +0000

At NapulETH 2025, held in Naples from July 17–19, Italian lawmaker Marcello Coppo joined industry experts to discuss the regulatory future of digital assets in Italy.

In a conversation with BeInCrypto, the Member of Parliament from Fratelli d’Italia (Brothers of Italy) shared his views on crypto taxation, the idea of a national Bitcoin reserve, and what mass adoption might look like in one of Europe’s most mature crypto markets.

From Crypto Skepticism to Strategic Policy

Coppo is not just a politician—he’s a lawyer with a long record of advocating for legal clarity and political leadership in complex regulatory matters.

As a member of the parliamentary “Public and Private Work Commission,” his work focuses on protecting citizens’ interests in fast-evolving sectors—crypto included.

One of his most visible efforts was pushing back against aggressive tax proposals on crypto gains.

Fighting Back Against Excessive Crypto Taxation

BeInCrypto: One of the Meloni government’s first major steps was to introduce a tax framework for crypto. What motivated that decision?

Marcello Coppo: We believe every part of the economy deserves clear rules. Crypto is no exception. Our goal is to create a structured environment that encourages legitimate projects and generates value for the country.

BeInCrypto: The law treats crypto as an investment asset but applies capital gains taxes. Is that a fair compromise?

Coppo: I was one of the key voices pushing the tax rate down to 26%. Originally, the proposal aimed for 42%.

Unfortunately, there’s an additional 33% rate scheduled to come into effect in 2026, which I strongly oppose. I’ve submitted a formal motion in Parliament, and the government has accepted it.

While I can’t guarantee an outcome yet, I’m working to either equalize crypto taxation with other capital gains—or at the very least, delay this increase.

The upcoming budget law will start in the Senate, so I won’t be directly involved in that phase.

However, there’s a legislative window at the end of the year—the “Milleproroghe”—which begins in the Chamber of Deputies. That’s when I plan to intervene if needed.

Should Italy Adopt a Strategic Bitcoin Reserve?

BeInCrypto: There’s growing discussion in the US about holding Bitcoin as part of national reserves. Could Italy consider something similar?

Coppo: Even if it’s not a current priority, I believe it’s inevitable that the topic will come up. Italy holds one of the largest gold reserves globally, but that doesn’t mean we can’t diversify.

We face practical hurdles first. There’s no budget classification for seized or confiscated crypto assets.

Today, crypto seized in legal investigations is scattered across various jurisdictions, with no centralized oversight or accounting.

The government hasn’t commercialized these assets yet, but if Bitcoin is treated as part of a diversified strategy, we need a way to track and evaluate it.

Eventually, we’ll need to decide. Should we liquidate these assets or retain them as part of the state’s patrimony?

The term “strategic reserve” sounds impressive, but technically, these assets already fall under the umbrella of state property—just like state-owned buildings.

Some real estate has declined in value over time; Bitcoin might offer better upside in the long term.

Pushing Toward Mass Adoption

Despite a recent Gemini report naming Italy one of Europe’s most mature crypto markets, Coppo sees a long road ahead for public understanding and political acceptance.

BeInCrypto: Cryptocurrencies still face skepticism in politics. Do you think they’ll ever be seen as a core part of the financial system?

Coppo: We need to make distinctions. Bitcoin is serious—it has staying power. Then there are altcoins, which have potential. And then there’s what I’d call “junk coins”—those should be avoided entirely.

When I talk about crypto-assets, I mean the credible ones. But let’s be honest. If I go to a supermarket and ask someone—let’s say Mrs. Maria—what she knows about crypto, chances are the answer will be “not much.” That tells us adoption is still low.

The real challenge now is mass education and broader adoption. That’s where our focus should be.

The post Marcello Coppo Discusses Italy’s Bitcoin Reserve Ambitions, Crypto Tax, and More appeared first on BeInCrypto.

CFTC Unveils Initiative for Trading Listed Spot Crypto

admin — Mon, 04 Aug 2025 23:10:59 +0000

The post CFTC Unveils Initiative for Trading Listed Spot Crypto appeared first on Coinpedia Fintech News

The Commodity Futures Trading Commission (CFTC) has launched an initiative to enable trading for crypto asset contracts through its regulated exchanges. According to acting chairman Caroline Pham, the initiative is the first crypto-focused move geared to enable the mainstream adoption of digital assets in the United States.

Furthermore, President Donald Trump has directed all respective agencies to implement clear crypto regulations as guided by Congress. Pham highlighted that the CFTC’s initiative will work to implement the President’s Working Group on Digital Asset Markets report, which was recently released.

“The Commodity Exchange Act currently requires that retail trading of commodities with leverage, margin, or financing must be conducted on a DCM. Starting today, we invite all stakeholders to work with us on providing regulatory clarity on how to list spot crypto asset contracts on a DCM using our existing authority, as I have previously proposed since 2022,” Pham noted.

What Will Be the Expected Impact of CFTC’s Crypto Initiative Amid Ongoing Macro Bull Market?

The CFTC has made a deliberate effort to engage the members of the public in implementing its initiative for enabling the trading of spot crypto asset contracts on its regulated exchanges. The agency expects written submissions from the members of the public by August 18, 2025.

After the agency implements the recommendations from the members of the public through the legally stipulated channels, the demand for crypto assets will skyrocket exponentially. Furthermore, investors will seamlessly access crypto assets through the CFTC’s registered exchanges.

The ongoing macro crypto bull market is heavily bolstered by the demand from institutional investors, led by Strategy Inc. (NASDAQ: MSTR) and BlackRock’s IBIT.

Billionaire Ray Dalio Calls for Overhaul of US Government Economic Data Estimates Amid BLS Controversy

admin — Mon, 04 Aug 2025 22:01:44 +0000

Bridgewater Associates founder Ray Dalio says the US government needs to rethink how it comes up with its economic data.

Over the weekend, President Donald Trump fired the head of the Bureau of Labor Statistics, Erika McEntarfer, because of a large downward revision of job numbers.

On Friday, the BLS revised down the job growth figures for June from 147,000 to 14,000, a 90% drop.

Figures for May were also revised down from 144,000 to 19,000, bringing the combined two-month downward revision to 258,000 jobs.

Some analysts at US banks began citing the data as possible evidence suggesting the economy was slowing down and flashing potential recession signals.

Despite the controversy over firing the BLS Commissioner, in a post on the social media platform X, Ray Dalio says he would have fired her, too.

“I probably would have fired the head of the Bureau of Labor Statistics too.

That’s because its process for making estimates is obviously obsolete and error-prone, and there is no good plan in the works for fixing it. The huge revisions in Friday’s employment numbers are symptomatic of this, especially because the revisions brought the numbers toward private estimates that were in fact much better.

I assure you that this is something that I know a lot about because of how I use data to follow the economy and bet on where it’s going.”

Dalio says if Trump indeed fired the BLS chief purely for political reasons, that may be a “big problem.”

Therefore, the investor says, “It would be good if President Trump made his thinking clear.”

“In any case, we do need big renovations to the ways the government estimates what’s going on in the economy to make them more, not less, accurate.”

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Anthropologie Elevates Maeve in Rare Retail Brand Launch

admin — Mon, 04 Aug 2025 21:46:32 +0000

Anthropologie is spinning off its Maeve product line as a standalone brand, a rare move in a retail sector where brand extensions have become less common.

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The decision reflects shifting strategies among specialty retailers as they work to adapt to changes in women’s fast-fashion and evolving consumer behavior.

Maeve, known for its blend of classic silhouettes and modern flourishes, will now operate independently with dedicated storefronts and separate digital channels, including new social media accounts and editorial content platforms, according to a Monday (Aug. 4) press release. The brand is inclusive, spanning plus, petite, tall and adaptive options, which broaden its reach as the industry contends with demands for representation.

Maeve has nearly 2 million customers and was the most-searched brand on the Anthropologie website over the past year, the release said. It is also a driver of TikTok engagement. Several of the company’s most “hearted” items online are already from the Maeve label.

“Maeve has emerged as a true driver of growth within Anthropologie’s portfolio,” Anu Narayanan, president of women’s and home at Anthropologie Group, said in the release. “Its consistent performance, combined with our customers’ emotional connection to the brand, made this the right moment to evolve Maeve into a standalone identity.”

While many retailers have retreated from new brand creation, opting instead to consolidate or focus on core labels, Anthropologie’s move suggests confidence in cultivating sizable, engaged consumer communities around sub-brands.

Anthropologie is backing Maeve’s standalone debut with a comprehensive marketing campaign, including influencer-driven content, a new Substack, a launch event in New York, and a charitable partnership, per the release. The first Maeve brick-and-mortar store is set to open in Raleigh, North Carolina, in the fall.

The move comes as the apparel sector in the United States sees shoppers valuing not just price and selection, but brand story, inclusivity and digital experience. While the outcome remains to be seen, Anthropologie’s gamble on Maeve reflects a belief that consumers remain eager to embrace distinctive, thoughtfully curated fashion.

The post Anthropologie Elevates Maeve in Rare Retail Brand Launch appeared first on PYMNTS.com.

Peter Thiel-backed Bullish seeks $4.2B IPO amid policy shifts in the US

admin — Mon, 04 Aug 2025 20:52:36 +0000

Bullish, the institutional crypto exchange backed by tech billionaire Peter Thiel, is targeting a valuation of up to $4.23 billion in its U.S. initial public offering, according to a regulatory filing submitted on Aug. 4.

The company is offering 20.3 million shares priced between $28 and $31, potentially raising as much as $629.3 million, Reuters reported the same day.

If successful, Bullish would debut at a steep discount to the $9 billion valuation it once pursued in a failed 2021 merger with a blank-check company. That earlier deal was scrapped in 2022 due to regulatory uncertainty.

This IPO attempt comes amid a friendlier policy environment under the Trump administration, including the recent passage of the GENIUS Act, which outlines the first federal guidelines for stablecoins and has helped reinvigorate interest in crypto-related equities.

Bullish, led by former New York Stock Exchange president Thomas Farley, said in its prospectus that it plans to convert a substantial portion of the IPO proceeds into U.S. dollar-backed stablecoins with the support of one or more token issuers. The move mirrors the recent trend among crypto firms to anchor reserves in regulated digital dollars.

While Bullish posted a $349 million loss in the first quarter of 2025, driven largely by mark-to-market declines in its crypto holdings, investors are likely to focus more on core exchange profitability and operational efficiency.

The offering is being led by J.P. Morgan, Jefferies, and Citigroup. Shares are expected to trade on the New York Stock Exchange under the ticker symbol “BLSH.”

Bullish’s filing comes just days after Coinbase, the largest publicly traded crypto exchange, reported a decline in second-quarter profit amid sluggish trading activity. Despite the dip, broader investor sentiment appears to be shifting toward long-term structural plays in the digital asset space.

The post Peter Thiel-backed Bullish seeks $4.2B IPO amid policy shifts in the US appeared first on CryptoSlate.

Amazon’s best Kindles are cheaper than ever at Best Buy

admin — Mon, 04 Aug 2025 20:25:57 +0000

The latest Kindle Paperwhite starts at $124.99, which beats its Amazon Prime Day price.

A Kindle lets you carry an entire bookshelf while on the go, which is why almost every year we recommend the e-reader in our guides to the best back to school essentials. With a new semester just around the corner, it’s no surprise Best Buy is currently offering the latest versions of some of our favorite models at record low prices. You can, for example, pick up the ad-supported Kindle Paperwhite starting at $124.99 ($35 off) from Best Buy and Target, while Best Buy is selling the Kindle Colorsoft Signature Edition for $179.99 ($100 off). Best Buy is even discounting the Kindle Scribe, selling the note-taking e-reader with 32GB of storage starting at $259.99 ($140 off).

Of all the e-readers out there, the Kindle Paperwhite is my top pick for those who mainly own Kindle books. As somebody who loves reading in the bath, my favorite feature is its IPX8 waterproof rating, which lets me relax without worrying. It’s also the fastest and easiest Paperwhite to read yet, thanks to a bigger and brighter 7-inch display that retains its predecessor’s sharp 300ppi resolution.

Kindle Paperwhite (2024) Amazon’s latest Kindle Paperwhite — aka our favorite ebook reader — is perfect for the valentine who likes to relax by the pool or pretty much anywhere. It’s designed to last for weeks at a time, not days, while a larger seven-inch display and adjustable color temperature allow for more natural lighting in any environment. Where to Buy:

Amazon’s other discounted Kindles are also worth considering depending on your needs. If you read a lot of textbooks with visuals or enjoy graphic novels, I’d recommend buying the Kindle Colorsoft Signature Edition instead. It is largely similar to the Paperwhite but steps things up with a 150ppi color mode that’s impressively vibrant for an E ink screen. You’ll also get double the storage (32GB), no annoying lockscreen ads, and the added convenience of wireless charging.

Kindle Colorsoft Signature Edition The Kindle Colorsoft Signature Edition is Amazon’s first e-reader with a color display. It also boasts 32GB of storage, waterproofing, and support for wireless charging. Where to Buy:

$279.99 $179.99 at Target

Then there’s the Kindle Scribe, which is designed for readers who like to take notes while reading. Its larger 10.2-inch display features a paper-like screen and comes bundled with a stylus. Recent software updates now allow you to finally write directly on the page of what you’re reading, while its built-in digital notebook means you won’t need to carry a separate one to class. The Kindle Scribe even features AI-powered tools that can clean up your handwriting and keep everything organized, making it an excellent all-in-one study companion.

Kindle Scribe (2024) The latest Kindle Scribe is a 10.2-inch e-reader with a stylus for taking notes. It’s faster than its predecessor and offers a host of new features, including one that lets you jot notes directly in your book. Where to Buy:

Peter Thiel-Backed Crypto Exchange Bullish Files for $4,230,000,000 IPO: Report

admin — Mon, 04 Aug 2025 19:55:55 +0000

A crypto exchange backed by billionaire investor Peter Thiel is seeking to file for an initial public offering (IPO) worth over $4.2 billion.

According to a new Reuters report, the billionaire-backed Bullish is targeting a $4.23 billion valuation for its upcoming US IPO.

Bullish reportedly plans to invest many of the IPO funds in US-dollar-backed stablecoins.

Bullish plans to offer 20.3 million shares priced between $28-$31, seeking up to $629 million.

The news comes on the heels of another Thiel-backed firm, BitMine, announcing that it has accumulated over $3 billion worth of the second-largest crypto asset by market cap, becoming the largest Ethereum (ETH) treasury company in the world.

The company’s newly appointed chairman of the board of directors, Fundstrat’s Tom Lee, says that BitMine is well on its way to achieving its goal of acquiring and staking 5% of the total supply of ETH.

BitMine seeks to become the MicroStrategy of Ethereum. The software company now known as Strategy already holds 601,000 BTC, worth approximately $72 billion, or around 2.865% of the total supply of the flagship cryptocurrency.

“Among Bitcoin treasury companies, we have witnessed the reflexive benefit of acquiring large holdings… Such sizable holdings have created a ‘sovereign put’ for the company, meaning a nation-state views MSTR holdings as attractive if a nation ever wanted to acquire 5% of the Bitcoin network. Similarly, ETH Treasuries, which accumulate 5% of ETH supply, can benefit from a similar ‘Wall Street put.’”

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Mike Cagney’s Figure Technology files draft IPO paperwork with SEC

admin — Mon, 04 Aug 2025 19:45:10 +0000

Figure Technology joins Grayscale, Bullish and BitGo as firms with footholds in digital assets that are seeking to launch IPOs.

FinCEN Sounds Warning on Virtual Currency Kiosk Scams

admin — Mon, 04 Aug 2025 19:40:50 +0000

The Treasury Department is warning financial institutions to watch for scams involving convertible virtual currency (CVC) kiosks.

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While these kiosks can offer consumers an easier way to access CVC, they are also exploited by scammers and other criminals, the department’s Financial Crimes Enforcement Network (FinCEN) said in a notice issued Monday (Aug. 4).

“Criminals are relentless in their efforts to steal money from victims, and they’ve learned to exploit innovative technologies like CVC kiosks,” FinCEN Director Andrea Gacki said in a news release.

“The United States is committed to safeguarding the digital asset ecosystem for legitimate businesses and consumers, and financial institutions are a critical partner in that effort. This notice supports Treasury’s continuing mission to counter fraud and other illicit activities.”

These activities include fraud, cybercrime and drug trafficking activity, the release added. FinCEN said it has also seen a rise in scams involving the kiosks, including tech and customer support scams and bank imposter scams.

The risk of illicit activity is exacerbated if CVC kiosk operators do not meet their Bank Secrecy Act (BSA) obligations, the release added.

FinCEN’s warning comes as other regulators are cracking down on illicit activities involving digital asset infrastructure.

For example, the U.K.’s Financial Conduct Authority (FCA) announced last month it had seized four cryptocurrency ATMs, which are illegal in Great Britain.

Also in July, the government of New Zealand called for a ban on crypto ATMs, with Nicole McKee, the country’s associate justice minister, saying this move would make it “more difficult for criminals to convert cash to high-risk assets such as cryptocurrencies.”

Research by PYMNTS Intelligence and Featurespace shows that scammers are growing in sophistication, with 30% of Americans losing money in a scam in the last five years.

“Scammers are innovating and fine-tuning their tactics by drawing from the toolkits of legitimate businesses, personalizing their offerings, and customizing how they contact and convince victims to engage,” PYMNTS wrote last week.

“They exploit consumers’ unique circumstances and vulnerabilities, with victims cutting across demographics including age, education, and income. This growing sophistication necessitates a deeper understanding of scammer methodologies beyond just their prevalence.”

The research also explores the specific strategic adaptations by scammers, such as tailoring their tactics to target different generations. For example, 21% of scams that target Gen Z consumers are initiated through social media. By contrast, older generations like baby boomers are contacted more often through channels they trust, such as email (23% of scams) and phone calls (21% of scams).

The post FinCEN Sounds Warning on Virtual Currency Kiosk Scams appeared first on PYMNTS.com.

ChatGPT will ‘better detect’ mental distress after reports of it feeding people’s delusions

admin — Mon, 04 Aug 2025 19:36:56 +0000

OpenAI, which is expected to launch its GPT-5 AI model this week, is making updates to ChatGPT that it says will improve the AI chatbot’s ability to detect mental or emotional distress. To do this, OpenAI is working with experts and advisory groups to improve ChatGPT’s response in these situations, allowing it to present “evidence-based resources when needed.”

In recent months, multiple reports have highlighted stories from people who say their loved ones have experienced mental health crises in situations where using the chatbot seemed to have an amplifying effect on their delusions. OpenAI rolled back an update in April that made ChatGPT too agreeable, even in potentially harmful situations. At the time, the company said the chatbot’s “sycophantic interactions can be uncomfortable, unsettling, and cause distress.”

OpenAI acknowledges that its GPT-4o model “fell short in recognizing signs of delusion or emotional dependency” in some instances. “We also know that AI can feel more responsive and personal than prior technologies, especially for vulnerable individuals experiencing mental or emotional distress,” OpenAI says.

As part of efforts to promote “healthy use” of ChatGPT, which now reaches nearly 700 million weekly users, OpenAI is also rolling out reminders to take a break if you’ve been chatting with the AI chatbot for a while. During “long sessions,” ChatGPT will display a notification that says, “You’ve been chatting a while — is this a good time for a break?” with options to “keep chatting” or end the conversation.

OpenAI notes that it will continue tweaking “when and how” the reminders show up. Several online platforms, such as YouTube, Instagram, TikTok, and even Xbox, have launched similar notifications in recent years. The Google-owned Character.AI platform has also launched safety features that inform parents which bots their kids are talking to after lawsuits accused its chatbots of promoting self-harm.

Another tweak, rolling out “soon,” will make ChatGPT less decisive in “high-stakes” situations. That means when asking ChatGPT a question like “Should I break up with my boyfriend?” the chatbot will help walk you through potential choices instead of giving you an answer.

Bitpanda CEO Discusses DeFi, Stablecoins, and LATAM Expansion

admin — Mon, 04 Aug 2025 19:21:35 +0000

Bitpanda, one of Europe’s top crypto trading platforms, is expanding fast—Brazil is next.

In this exclusive interview, CEO Lukas Enzersdorfer-Konrad discusses growth plans, stablecoins, DeFi, and the company’s unique infrastructure strategy.

Lukas Enzersdorfer-Konrad, CEO of Bitpanda: Making Crypto Accessible Since 2014

Can you give a quick intro to Bitpanda for those who may not know the company?

“Bitpanda is Europe’s leading crypto company, offering a trusted, regulated platform for digital asset investing.

Founded in 2014 in Vienna, we were among the first to make crypto accessible to retail investors. We’ve since expanded to over 3,200 assets, including 600+ cryptocurrencies, precious metals, stocks, commodities, and ETFs.

Today, we serve more than 7 million users and partner with top financial institutions worldwide.”

What does BTS (Bitpanda Technology Solutions) offer, and who are your current partners?

“Bitpanda Technology Solutions is our infrastructure-as-a-service platform. We enable banks, fintechs, and even crypto firms to offer asset trading.

It’s modular, fully integrated, and regulated where required. Clients include Deutsche Bank, Raiffeisen Bank, N26, RAKBANK, and others across Europe and the Middle East.

They rely on us to deliver seamless, compliant crypto access, embedded directly into their services.”

Expanding Across Europe, the Middle East, and LATAM

In how many regions is Bitpanda active, and what characterizes each one?

“We’re active in Europe and the Middle East, with global expansion ongoing. Each region is unique.

Europe is focused on compliance, scale, and regulated alternatives. In the UAE, we see strong momentum and clear rules from VARA.

Our infrastructure lets us adapt quickly and meet local requirements wherever we operate.”

What are your LATAM plans, especially for Brazil? Any partners lined up?

“Brazil is a natural next step for us. It has a young, tech-savvy population and rising interest in digital assets.

We’ve built a local team led by Rafael Teruszkin and are actively exploring partnerships. We’re already in advanced conversations.

Regulatory work in Brazil adds a strong layer of security. We’ll share updates in the coming months.

Our market approach is always responsible, compliant, and localized.”

DeFi, Stablecoins, and Real-World Assets Will Reshape Finance

How do you see the future of digital assets in the near and long term?

“In the short term, expect more institutional adoption and regulatory clarity. Crypto will integrate deeper into mainstream finance.

In the long term, tokenized real-world assets, stablecoins, and DeFi/CeDeFi use cases will become structural parts of finance.

We’re still early in unlocking this technology’s full potential.”

What determines success for traditional players entering the crypto space?

“Success depends on speed, route to market, and trust. The right time to build was three years ago.

But partnerships are a faster route. Choose the right partner, embed crypto properly, and prioritize compliance.

Those who think long-term, build trust, and deliver real user value will win.”

Building a Practical Onchain Economy With Vision

You recently launched Vision, your Web3 token. What’s your outlook on the onchain economy?

“We want Web3 to be more accessible, regulated, and useful. That’s why we created Vision.

It ties real-world assets, staking, and loyalty into a transparent onchain ecosystem. It’s practical, not just experimental.

As the onchain economy matures, we aim to lead with tools people actually use.”

When will the Bitpanda DeFi Wallet be available in Brazil?

“We don’t have a launch date yet. We want the wallet to meet both our standards and DeFi community expectations.

Brazil is high on our list. There’s strong interest in non-custodial solutions and broader digital asset adoption.”

Why ‘Panda’? And does ‘Bit’ stand for Bitcoin?

“I wish there were a better story. Honestly, the domain was cheap, and we liked the name.

We wanted ‘bit’ in it, and we wanted an animal. Bitpanda sounded good—friendly and powerful. It stuck.”

Lukas Enzersdorfer-Konrad, CEO of Bitpanda, will be speaking at Blockchain Rio next week. Don’t miss the chance to hear more from one of Europe’s leading crypto executives.

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