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Louisiana just armed crypto ATM users with a legal cheat code to demand full refunds from unlicensed operators

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Starting Aug. 1, Louisiana users may cancel a virtual-currency-kiosk transaction made on or after that date and demand a full refund at any time if the machine’s owner or operator was unlicensed when the transaction occurred. Act 482 puts the cost of an eligible refund on the operator. Eligibility depends on the operator’s license status … Read more

Coinbase spent 5 years building a life raft away from Bitcoin and still managed to lose $359M

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Coinbase told investors on Thursday that 88% of its second-quarter net revenue came from something other than Bitcoin spot trading. The same release reported a $359.5 million net loss under US accounting rules, the company’s third consecutive losing quarter. Both numbers describe the same three months. Taken together, they get closer to the truth about … Read more

Hyperliquid’s token is tanking as ETF investors flee, so why does Grayscale think it is massively undervalued?

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Investors are withdrawing money from Hyperliquid-linked exchange-traded funds for the first time since the products launched. Data from SoSoValue shows that the three funds have recorded more than $13 million in net outflows in July, putting them on course for their first negative month after attracting about $280 million since inception. Nearly $27 million has … Read more

Why DeFi giant Aave is pulling the plug on six hyped blockchains making less than $5,000 a quarter

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In a July 29 forum-stage proposal, Aave risk service provider LlamaRisk recommended winding down the decentralized lender’s V3 deployments on Sonic, Scroll, zkSync, Metis, Soneium, and Aptos. The plan would put $4.1 million of debt on a staged exit path that keeps existing positions open during the initial step. The Aave Request for Final Comments, … Read more

A secret 11th-hour CLARITY proposal to protect crypto coders was just ripped apart by both sides of Washington

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Senate negotiations over the landmark CLARITY Act are producing fresh concessions, but little evidence that the parties are moving closer to a deal. Democrats are moving on regulatory appointments and ethics, while law-enforcement groups have proposed new language for one of the CLARITY Act’s most contentious provisions. The White House and crypto advocates, however, have … Read more

Trump promised to save crypto, but his personal business might kill its landmark CLARITY law

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Senate negotiators on the CLARITY Act have run into a condition several Democrats are treating as essential: they want ethics language limiting how much senior officials, including the president and vice president, can profit from digital asset ventures. That condition traces back to a warning crypto figures made before the 2024 election, when they argued … Read more

Inside the brutal 2-minute flash crash sending a $400M South Korean market plunging on Hyperliquid

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A two-minute price shock in a Hyperliquid market tied to South Korea’s SK Hynix has put the mechanics and oversight of equity-linked perpetuals under scrutiny. SKHX, a TradeXYZ-operated perpetual on Hyperliquid that tracks the US dollar value of one Korean SK Hynix share, briefly sank to $927 during South Korea’s pre-market window before recovering within … Read more

Federal court shields Kalshi and Polymarket from Minnesota’s felony crackdown days before deadline

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A federal judge has temporarily barred Minnesota from enforcing its new prediction-market felony law against federally regulated exchanges designated by the Commodity Futures Trading Commission as contract markets, including Kalshi and Polymarket US, days before the statute takes effect on Aug. 1. Judge Katherine Menendez granted preliminary-injunction motions filed by the CFTC, KalshiEX and QCX, … Read more