Blockonomi

TLDR
Trump urged Congress to make the administration’s crypto policies permanent through legislation.
The CLARITY Act would divide digital asset oversight between the SEC and CFTC.
Senate negotiations remain divided over ethics rules, DeFi treatment, and stablecoin rewards.
The CFTC will discuss crypto, AI, and prediction markets at its first advisory committee meeting.
Odds of the bill passing have dropped sharply since February, according to prediction markets.
President Donald Trump asked Congress on August 19 to pass a “fair” version of the CLARITY Act. He spoke at a White House event with executives from Coinbase, Gemini, Ripple, and Chainlink Labs.
Trump said the bill would keep the United States ahead of China in crypto innovation. He called the measure “very bipartisan,” though Senate talks are still unresolved.
Coinbase CEO Brian Armstrong told the crowd that passing the law would protect current crypto policies from being reversed later. He described the bill as a genuine compromise between parties.
The CLARITY Act would split oversight of digital assets between the Securities and Exchange Commission and the Commodity Futures Trading Commission. It would also set rules for exchanges, brokers, and custodians.
The House passed its version of the bill in July 2025 by a vote of 294 to 134. The Senate Banking Committee later approved it, but no floor vote has happened yet.
Ethics Rules and DeFi Treatment Divide Lawmakers
Democrats want limits on crypto holdings for senior officials in all three branches of government. This includes rules that could affect Trump’s own digital asset ventures.
Negotiators also disagree on how to treat decentralized finance protocols. Rules covering stablecoin rewards matter to Coinbase, which earns revenue from USDC trading activity.
Republicans hold 53 Senate seats, short of the 60 votes needed to pass the bill. That means Democratic support is required before lawmakers leave for the November elections.
A crypto.news analysis from August 18 found that Polymarket’s odds of passage fell from 82% in February to under 20% by mid-August. Galaxy Digital cut its own estimate to 10% on August 14.
SEC and CFTC Continue Separate Rulemaking
SEC Chairman Paul Atkins linked the agency’s new crypto proposal to the need for congressional action. He said the plan gives entrepreneurs more certainty to raise money using digital assets.
The SEC’s proposal would create two funding paths for crypto offerings. One allows up to five million dollars raised over four years. The other allows up to seventy five million dollars over twelve months.
Atkins said the SEC cannot rewrite the legal line between securities and commodities on its own. Only Congress can grant the CFTC full authority over spot digital commodity markets.
The Treasury Department is also implementing the GENIUS Act, signed by Trump in July 2025. Its stablecoin rules cover issuer authorization, reserves, and disclosure requirements.
The CFTC held its first Innovation Advisory Committee meeting on August 20, one day after the White House event. Executives from Coinbase, Ripple, Kraken, Anchorage Digital, and Grayscale took part.
The three hour meeting covered digital assets, artificial intelligence, and prediction markets. The committee can advise the CFTC but cannot write rules or take enforcement action.
Public comments tied to the meeting can be submitted through August 27 and will become part of the official record.
The post Trump Urges Senate to Pass CLARITY Act at White House Event appeared first on Blockonomi.

TLDR
Arthur Hayes proposed giving roughly 20% of the FLOP token supply to testnet participants over 10 years.
Flop Network would price AI computing work using floating-point operations instead of model-specific tokens.
Miners would earn block rewards plus fees for processing AI inference requests, a system called Proof of Useful Inference.
Hayes said he self-funded the development team, so there was no presale for early investors.
Key details remain unpublished, including total token supply, blockchain choice, and how validators would check miner output.
Arthur Hayes has laid out new details about Flop Network, a computing project designed to serve artificial intelligence agents. The BitMEX co-founder shared the plan in an Aug. 19 Substack post.
He said testnet participants could receive about 20% of the total FLOP token supply. That allocation would be spread out over a 10-year period.
Hayes did not say how many tokens would exist in total. He also did not explain how fast the testnet rewards would be released.
The network would connect AI agents that need computing power with miners who run internet-connected hardware. FLOP would be the token used for payment and rewards on the network.
How Flop Network Would Price Computing Work
Flop Network plans to charge for AI work based on floating-point operations, known as FLOPs. This differs from how most AI companies bill customers today.
Hayes said current AI providers each define their own input and output tokens. That makes it hard for customers to compare prices across different services.
He argued that a FLOP-based pricing system would create one common measure. Buyers could compare compute costs no matter which model, hardware, or location handled their request.
Anyone with an internet-connected computer could become a compute provider under this design. Users would submit jobs with details on the work needed, the time available, and the model to use.
Mining Rewards and Unanswered Questions
Flop Network would use a system Hayes called Proof of Useful Inference. Miners would earn two types of income under this model.
They would receive FLOP block rewards simply for supporting the network. They would also collect fees for completing specific inference requests from users.
The post did not explain how the network would verify a miner’s work. It is unclear how validators would confirm the correct model was used or check for false results.
No white paper, security audit, or token contract had been released. The blockchain that will support FLOP has also not been named.
Hayes said he personally funded the development team, so there was no presale. He said this avoids leaving retail buyers with too many tokens once trading begins.
The plan calls for a FLOP airdrop in the fourth quarter of 2026. The Flop Network genesis block is scheduled for the first quarter of 2027.
Flop Network would compete in a market where stablecoins already handle agent payments. A May 2026 Keyrock report found AI agents settled $73 million in stablecoin transactions over 12 months, with USDC making up 98.6% of that volume.
Coinbase began letting business customers accept agent payments in USDC through its x402 standard in July. Hayes said FLOP would work differently by tying its value to actual computing supply rather than the dollar.
Hayes said his next article will explain why he believes the AI agent economy needs a spot market priced by floating-point operations.
The post Arthur Hayes Proposes FLOP Token Plan for AI Computing Network appeared first on Blockonomi.

TLDR
Binance detected a malicious DAO proposal with less than 48 hours left before it could execute.
The attack targeted about $1.2 million in treasury tokens from an unnamed project.
Binance worked with other exchanges to freeze deposits, and the project voted down the proposal.
The case follows a similar attack on BonkDAO that led to a $20 million loss in July.
Binance says it spends about $300 million a year on compliance and fraud prevention.
Binance said on Aug. 18 that its security team stopped a malicious governance proposal aimed at a decentralized autonomous organization, known as a DAO.
The proposal could have put about $1.2 million in treasury tokens at risk.
Binance’s team found the issue before any outside security firm flagged it.
The company did not name the project or the token involved.
Less than 48 hours remained before the proposal could take effect.
Once the threat was found, Binance contacted the project’s team directly.
The exchange also asked other platforms that list the token to pause deposits.
The project’s community then voted against the proposal.
That vote stopped the attack before any funds could be moved.
How the Attack Worked
The attacker used a weak point in the project’s voting rules, called governance.
DAOs let token holders vote on choices like spending funds or approving upgrades.
If the rules allow proposals with little review time, a bad actor can push one through fast.
Binance security chief Jimmy Su said the response shows that security work now reaches past the exchange’s own systems.
He said many attacks today target people and access rather than code flaws.
Past Governance Attacks Show the Risk
In July, BonkDAO said an attacker drained about $20 million in BONK tokens from its treasury.
That attacker built up enough voting power to pass a harmful proposal on their own.
A separate case at KelpDAO involved a bridge hack rather than a vote.
Chainalysis reported that hackers took about $292 million from KelpDAO’s bridge.
Quick action after that theft blocked another $95 million and froze thousands of ETH tied to the attacker.
Su said this latest case started with a weakness in how the DAO’s voting system was built.
Early warnings have also helped outside of DAO cases.
The FBI’s Operation Level Up told more than 8,000 people they may be victims of crypto fraud by December 2025.
Most of them did not know they were being targeted.
The agency said its tips likely stopped about $511.5 million in losses.
Binance said it spends close to $300 million a year on compliance work.
Almost 1,500 staff work in related roles at the company.
The exchange said its checks caught $10.53 billion in fraud or unusual activity from 2025 into early 2026.
As of Binance’s Aug. 18 disclosure, the exchange has not released the name of the DAO or the token involved in this case.
The post Binance Stops $1.2 Million DAO Governance Attack appeared first on Blockonomi.

Key Highlights
SOFI gained 4.3% to reach $18.42, benefiting from sector-wide fintech strength without company-specific news
Second-quarter revenue totaled $1.21 billion, representing a 42.5% year-over-year increase, while EPS of $0.12 exceeded forecasts by one cent
The company achieved record loan originations of $14.8 billion during the latest reporting period
Wall Street consensus stands at Hold with an average price target of $22.42; breakdown includes eight Buy, ten Hold, and three Sell ratings
Company executives offloaded 125,219 shares valued at approximately $2.2 million during the previous 90-day period
Shares of SoFi Technologies (SOFI) advanced 4.3% to settle at $18.42 during Wednesday’s trading session, briefly touching an intraday peak of $18.72, as the broader fintech sector experienced a resurgence tied to positive bond market developments. The upward movement reflected industry-wide strength that also boosted competitors including Upstart and Affirm.
Approximately 41 million shares changed hands during the session, significantly lower than the typical daily volume of around 69 million shares.
The previous trading day saw shares close at $17.66. Over the past twelve months, the stock has fluctuated between $14.88 and $32.73.
For the second quarter, SoFi reported revenue of $1.21 billion, surpassing Wall Street’s expectation of $1.11 billion. This figure marks a 42.5% increase versus the comparable period in the prior year.
Earnings per share reached $0.12, topping the consensus forecast of $0.11 by a penny. The company delivered $0.08 per share in the year-ago quarter.
Lending Activity Hits All-Time High
Loan originations for the quarter reached an unprecedented $14.8 billion, signaling robust demand for the company’s lending products. Market observers are now focused on whether SoFi can sustain this growth trajectory while preserving credit standards.
Management has issued guidance for fiscal 2026 EPS of $0.60. The Street’s average projection stands slightly higher at $0.61 for the full year.
Piper Sandler kicked off coverage with an Overweight designation and $22 price objective, highlighting that product adoption is outpacing member acquisition. This cross-selling dynamic represents a cornerstone of SoFi’s strategic approach.
Wall Street Opinion Remains Divided
Analyst sentiment on SOFI remains fragmented. Eight analysts maintain Buy recommendations, ten advocate Hold positions, and three have issued Sell ratings. The average price target of $22.42 suggests potential appreciation from current trading levels.
TD Cowen maintains a $18 Hold stance. Morgan Stanley takes a more bearish view with a $15 Underweight rating. Among the bulls, Needham carries a $24 Buy target while Stephens holds an Overweight designation with a $25 objective.
Mizuho reduced its price target from $29 to $22 following the most recent quarterly results but maintained its Outperform recommendation.
Truist made a modest adjustment, raising its target from $18 to $19 while keeping a Hold rating intact.
From a technical perspective, the stock’s 50-day moving average stands at $17.61 while the 200-day average is positioned at $17.71. Chart watchers have identified resistance around the $20.13 level, which could attract trader interest should the rally continue.
Among major institutions, BlackRock established a fresh position valued at approximately $1.3 billion during Q2. Bank of America similarly initiated a stake worth roughly $164 million in that same timeframe.
Executive selling activity has been notable. The company’s Chief Technology Officer divested more than 102,000 shares in June, while an Executive Vice President sold nearly 11,000 shares in July. Both sales occurred through previously established 10b5-1 trading arrangements.
Institutional shareholders and hedge funds collectively control 38.43% of outstanding SOFI shares.
The firm maintains a debt-to-equity ratio of 0.30 with a market capitalization hovering around $23.79 billion.
The post SoFi Technologies (SOFI) Stock Surges 4% Amid Fintech Sector Rally appeared first on Blockonomi.

TLDR
Senator Ruben Gallego warned that a rushed Senate vote on the CLARITY Act could set back crypto market structure legislation.
He spoke at the SALT Wyoming Blockchain Symposium and urged lawmakers to keep negotiating instead of pushing for a quick vote.
Gallego said the White House has not given a point-by-point response to a bipartisan ethics proposal he sent with Senator Thom Tillis.
The Senate vote on the CLARITY Act has been pushed to September, according to Majority Leader John Thune.
President Trump has publicly urged Congress to pass a fair version of the bill.
Senator Ruben Gallego says the crypto industry should be careful about pushing for a fast vote on the CLARITY Act. He made the comments at the SALT Wyoming Blockchain Symposium on Wednesday.
The CLARITY Act is a bill meant to set clear rules for digital assets in the United States. It would split oversight of the crypto market between the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Gallego said lawmakers still have work left to do before the bill is ready. He pointed to the Agriculture Committee’s part of the bill, which still needs to be finished.
What Gallego Said About Timing
Gallego said a fast vote will get a fast result, but that result might not be the one people want. He said any early movement could set the bill back further instead of helping it move forward.
He also said Congress needs to figure out how the bill will move to the House once the Senate finishes its work. That step has not been settled yet.
Gallego encouraged the crypto industry to support more negotiation time rather than demand a quick vote. He said rushing could hurt the bill’s chances long term.
Ethics Proposal Still Waiting On A Response
Gallego said he and Republican Senator Thom Tillis sent compromise language on ethics rules to the White House before Congress left for recess. He said the goal was to build ethics protections strong enough to bring more Democrats on board.
He said the White House has not given a clear answer. According to Gallego, responses have come back blank, weaker than before, or not at all.
Cointelegraph reached out to the White House for comment. No response was received before publication.
Senate Majority Leader John Thune confirmed on August 7 that the chamber was delaying the vote. He said the CLARITY Act would be one of the first items taken up when the Senate returns from recess in September.
The delay comes as the Trump administration keeps pushing for the bill to move forward. On Wednesday, President Trump asked Congress to pass what he called a fair version of the CLARITY Act during an event with crypto executives at the White House.
White House crypto adviser Patrick Witt has said the administration plans to keep talking with Democrats before the September vote. Witt said the administration cannot wait forever for a deal.
Gallego’s comments show there are still gaps between lawmakers on ethics rules and other parts of the bill. Those gaps have not been closed as the September deadline gets closer.
The bill’s path through the Senate and then the House remains unclear. For now, both sides say talks are continuing, but no final agreement has been reached.
The post Senator Says CLARITY Act Ethics Talks With White House Still Unresolved appeared first on Blockonomi.

Key Takeaways
Shares of BioNTech climbed 22% to reach $113.12, marking the company’s strongest daily performance since April 2023
The surge followed encouraging Phase 3 data from Moderna and Merck’s customized cancer treatment, intismeran autogene, used with Keytruda
Leerink Partners’ Daina Graybosch warns the momentum will probably dissipate, noting limited relevance to BioNTech’s situation
BioNTech’s cancer vaccine development has lagged behind Moderna’s timeline, with a significant candidate halted in late 2025
The biotech firm is navigating a founder departure and declining revenue in the post-Covid era
Shares of BioNTech experienced a dramatic 22% climb on Wednesday, closing at $113.12 and recording the company’s most significant one-day advance in nearly two years. The surge followed the announcement of successful Phase 3 clinical trial results from Moderna and Merck regarding their individualized cancer treatment.
The clinical study, designated INTerpath-001, demonstrated that intismeran autogene when paired with Merck’s checkpoint inhibitor Keytruda delivered superior outcomes in preventing melanoma from returning compared to Keytruda administered as a standalone therapy. Market response was substantial, with Moderna shares nearly tripling in value and Merck climbing more than 12%.
The positive sentiment spread across the vaccine industry. Novavax shares rose 11%, as investors broadly embraced companies in the immunotherapy space following the encouraging clinical data.
However, Wall Street analysts from Leerink Partners were quick to temper expectations regarding BNTX shares specifically. Daina Graybosch, an analyst at the firm, cautioned that the stock’s advance will likely “fade as investors absorb the poor read-through.”
Her assessment is clear-cut: the clinical achievement belongs squarely to Moderna and Merck, with minimal implications for BioNTech. Though BioNTech operates its own mRNA-based cancer immunotherapy programs, progress has lagged behind competitors.
Slowing Development Timeline
BioNTech’s oncology vaccine initiatives center on the iNeST technology platform, created in partnership with Genentech, a Roche subsidiary. This approach focuses on solid tumor malignancies through individualized vaccines tailored to specific genetic mutations.
The development trajectory has encountered obstacles. Late in 2025, BioNTech halted work on BNT111, a candidate targeting advanced treatment-resistant melanoma, following Phase 2 evaluation in combination with Regeneron’s immunotherapy Libtayo.
According to Leerink’s analysis, BioNTech’s prospects of emerging as a frontrunner in cancer immunotherapy have diminished significantly, to the extent that such potential no longer factors into current valuations.
Goldman Sachs’ Asad Haider recently highlighted pumitamig as a more promising asset within BioNTech’s portfolio, describing its non-small cell lung cancer results as “encouraging,” while acknowledging a competing therapy has achieved more advanced development stages.
Management Transition and Financial Challenges
Compounding pipeline concerns, BioNTech is managing a significant leadership transition. The company’s founding couple plans to depart before year-end to establish a separate biotechnology venture. BioNTech has arranged to provide mRNA platform access to this new entity in exchange for equity participation, developmental milestone fees, and product royalties.
Financially, challenges persist. Recent second-quarter results revealed continued heavy reliance on Covid-19 vaccine sales, which remain on a downward trajectory. Management’s full-year revenue projections disappointed Wall Street forecasts.
By contrast, Pfizer, BioNTech’s Covid vaccine collaborator, has demonstrated more effective navigation through the post-pandemic business environment.
Analyst focus appears to be gradually moving away from BioNTech’s cancer vaccine initiatives toward other components of its broader oncology development portfolio.
The company’s annual revenue outlook underperformed analyst consensus estimates based on its latest quarterly financial disclosures.
The post BioNTech (BNTX) Stock Jumps 22% Following Moderna’s Cancer Vaccine Breakthrough appeared first on Blockonomi.

TLDR
Edward Zimbardi faces federal wire fraud and money laundering charges tied to a crypto Ponzi scheme.
Prosecutors say the scheme, called The Crypto Program, took in more than $165 million from thousands of investors.
Zimbardi allegedly promised a guaranteed 25% monthly return on advertising packages paid for with crypto.
He fled to Fiji in 2025 and was deported back to the U.S. on August 14, 2026.
He appeared before a federal magistrate in Los Angeles, and prosecutors are asking that he stay in custody.
Federal prosecutors in Georgia have charged Edward Zimbardi with running a crypto investment scheme that collected more than $165 million from thousands of people. Zimbardi was deported from Fiji last week after living there for over a year.
He appeared before a federal magistrate judge in Los Angeles. Prosecutors asked the court to keep him in custody while the case moves forward in the Northern District of Georgia.
How the Scheme Worked
Court documents say Zimbardi created and promoted a program called The Crypto Program between June 2022 and August 2023. He told investors it was a way to buy advertising packages that would pay a guaranteed 25% return every month.
Investors were told to send crypto into wallets that Zimbardi controlled. Prosecutors say thousands of people sent in more than $165 million total.
Instead of buying advertising, prosecutors allege Zimbardi gambled more than $34 million on foreign currency trades. Those trades reportedly lost money.
To keep the scheme running, he allegedly used money from new investors to pay earlier investors. This is a common feature of a Ponzi scheme.
Prosecutors also say Zimbardi spent at least $10 million on himself. That included a house for his son, luxury vehicles, and alimony payments to his ex-wife.
The Collapse and the Flight
The scheme fell apart in August 2023, and investors lost their money. Zimbardi then traveled to Hawaii, Fiji, and other locations.
In July 2025, he learned that the FBI was investigating him. He then moved to Fiji and stayed there for more than a year.
In May 2026, Zimbardi skipped his own son’s wedding in Virginia. He reportedly suspected FBI agents would try to arrest him there, and he was right.
On August 14, 2026, Fijian authorities deported Zimbardi to the United States. The move came after Fiji learned about the federal charges against him. U.S. and Fijian officials worked together on the deportation.
A federal grand jury indicted Zimbardi on July 8, 2026. He faces twelve counts of wire fraud, twelve counts of money laundering, and one count of money laundering conspiracy.
U.S. Attorney Theodore Hertzberg said Zimbardi tricked people with false promises of high returns. He said Zimbardi spent the money on risky trades, payouts to earlier investors, and personal purchases.
FBI Special Agent in Charge Marlo Graham said Zimbardi allegedly fled more than 7,300 miles to the South Pacific after the scheme collapsed. Graham said the FBI worked to bring him back regardless of where he tried to hide.
The FBI is asking anyone who invested in The Crypto Program to submit information through its victim reporting page. The agency says it will reach out to victims later about restitution.
Zimbardi is 59 years old and lives in Flowery Branch, Georgia. He has not been convicted, and he is presumed innocent unless the government proves its case at trial.
The case was investigated by the FBI, with help from the State Department, the SEC, the CFTC, and other agencies in the U.S. and Fiji.
The post FBI Says Crypto Program Founder Ran $165 Million Investor Fraud appeared first on Blockonomi.

Key Takeaways
Q2 revenue reached $198.8 million, surpassing analyst expectations of $165.7 million
Earnings per share of $0.05 exceeded the $0.04 consensus estimate
Revenue from trading activities soared 66% compared to last year, reaching $147.7 million
Removal of the Pattern Day Trader regulation on June 4 triggered substantial increases in platform activity
Northland Securities upgraded its BULL price target to $15 from $14, keeping a Buy recommendation
Shares of Webull (BULL) soared 13.8% during Wednesday’s pre-market session following the online brokerage’s announcement of record-breaking quarterly performance. The stock climbed to $9.83 before the opening bell, marking a significant jump from Tuesday’s closing price of $8.64.
The company’s second-quarter 2026 revenue totaled $198.8 million, significantly exceeding analyst projections of $165.7 million. Earnings per share on an adjusted basis reached $0.05, topping the Street’s $0.04 forecast.
Revenue generated from trading operations proved to be the highlight, jumping 66% from the same period last year to $147.7 million. On an adjusted basis, operating profit skyrocketed 169% to an all-time quarterly high of $62.6 million.
The impressive operating leverage is noteworthy. Revenue expansion significantly outpaced expense growth, delivering visible bottom-line improvement.
A substantial portion of this expansion stemmed from a regulatory transformation. The elimination of the Pattern Day Trader regulation on June 4 removed the $25,000 minimum account balance threshold that had previously restricted access for numerous retail investors. This regulatory shift triggered a substantial increase in trading activity across Webull’s ecosystem.
The quarterly metrics reflected this transformation. Equity notional volume totaled $279 billion throughout the quarter. Options trading reached 213 million contracts.
Total customer assets expanded 79% year-over-year to $28.5 billion. The platform’s registered user base increased 13% to 28.2 million.
Artificial Intelligence Platform Shows Progress
Webull’s artificial intelligence platform, branded as Vega, attracted 480,000 active users throughout the quarter. Management has emphasized AI-powered expansion as a central component of its long-term growth strategy.
Northland Securities analyst Michael Grondahl maintained his Buy recommendation on the shares while increasing his price target from $14 to $15. He highlighted the impressive Q2 performance, clear operating leverage, and AI development efforts as justification for the higher valuation.
Despite Wednesday’s pre-market rally, BULL continues trading substantially below its 52-week peak of $16.04.
Cryptocurrency Surge Provided Additional Tailwind
Leading up to the earnings announcement, BULL had already gained ground on Tuesday. Bitcoin and alternative cryptocurrencies advanced as declining Treasury yields increased investor appetite for higher-risk investments.
President Trump’s scheduled meeting with cryptocurrency industry leaders at the White House and anticipation of more defined U.S. regulatory guidelines for digital currencies further improved market sentiment.
This development carries weight for Webull given the platform’s cryptocurrency trading capabilities. Sharp increases in crypto valuations typically attract additional retail participants to the platform, driving higher transaction volumes and user engagement. Webull shares had gained 6.81% to $8.47 during Tuesday’s regular trading session ahead of the earnings release.
Wall Street consensus estimates heading into the report called for adjusted earnings of $0.03 per share on revenue of $181.26 million. Webull exceeded both metrics by comfortable margins.
During the first quarter of 2026, Webull’s revenue increased 36% year-over-year to $159.9 million, although total operating expenses jumped 68% as the firm increased marketing expenditures and dealt with elevated transaction costs related to rising volumes.
The second-quarter results demonstrate that revenue expansion has now overtaken cost increases, with adjusted operating profit reaching a quarterly record.
The post Webull (BULL) Stock Rallies 14% After Crushing Q2 Earnings and Regulatory Win appeared first on Blockonomi.

TLDR
ASIC removed 3,106 cryptocurrency investment scams in FY26, nearly 30% more than the year before.
Total online scam takedowns jumped 182% to more than 19,400, including fake platforms and phishing links.
Scammers are using AI deepfakes and fake celebrity endorsements to make fraudulent crypto sites look real.
Impersonation scams involving 10 well known Australians led to more than A$7.4 million in reported losses.
ASIC is telling investors to check licence details on its own registers, not just trust a web search.
Australia’s securities regulator has stepped up its fight against online fraud. ASIC removed 3,106 cryptocurrency investment scams during FY26.
That is close to a 30% rise from the year before. The regulator also removed 7,051 fake investment platforms and 5,476 phishing links.
Fake platform takedowns rose 151% compared to FY25. Phishing link removals climbed 279% over the same period.
In total, ASIC took down more than 19,400 online scams during the financial year. That is a 182% jump from FY25.
How AI Is Fueling Crypto Scam Networks
ASIC says criminals are now using generative AI to build entire webs of fake content around a single scam. This can include deepfake videos, fake news articles and fabricated reviews.
Some scams use AI generated footage of politicians or financial commentators. These clips are combined with copied branding and fake testimonials to promote bogus trading platforms.
Once a victim shares their details, scammers often follow up by phone. They may show fake profits on a dashboard to build trust before asking for larger transfers.
ASIC Chair Sarah Court said this makes scams harder to catch. “A simple online search is not enough to verify whether an opportunity is legitimate,” she said.
Court added that polished websites and familiar branding do not prove an investment is real.
Celebrity Deepfakes Linked to Millions in Losses
Scams impersonating 10 frequently targeted public figures resulted in more than A$7.4 million in reported losses in FY26. Those figures included Prime Minister Anthony Albanese and commentators Tom Piotrowski and Alan Kohler.
This tactic is not new. In 2024, a deepfake video of mining billionaire Andrew Forrest was used to promote a fake trading platform called Quantum AI.
Later that year, hackers took over a 7News YouTube account. They used an AI generated version of Elon Musk to push a crypto scam through a QR code.
Federal police say Australians lost A$382 million to investment scams in FY24. Crypto made up close to half of that total, with people under 50 making up 60% of crypto scam reports.
Fake trading platforms often show made up profits and rising balances. When victims try to withdraw money, scammers may demand extra fees before releasing funds that never existed.
Law enforcement has pursued some of these networks. In February, two men were charged over an alleged A$5 million scam tied to a platform called NEXOpayment.
ASIC also acted against a platform called Yepbit after customers said they could not withdraw funds. Yepbit told users that ASIC had frozen their money, which the regulator denied.
ASIC says fraudsters sometimes fake Australian Financial Services Licence numbers to look legitimate. It advises checking licence details on its own Professional Registers rather than trusting a website alone.
Investors can also check the Moneysmart Investor Alert List before sending money or crypto to any platform.
Separately, ASIC recently extended temporary licensing relief for some digital asset businesses. The new deadline moved from June 30 to September 30.
The post ASIC Removes Over 3,100 Crypto Scams in FY26 Report appeared first on Blockonomi.

Key Highlights
Gold futures climbed 0.1% to reach $4,549.14, maintaining support above the $4,500 threshold following Wednesday’s 4% rally
Treasury Department revealed plans to expand its bond-buyback initiative by at least double, resulting in declining long-term yields
July Federal Reserve meeting records indicated multiple policymakers remain willing to implement rate increases should inflation persist
Current market pricing suggests a 67.3% probability of no rate change at the Fed’s upcoming September policy meeting
Recent World Gold Council research shows 45% of global central banks intend to boost their gold holdings
Precious metal markets continue to show resilience near the $4,500 per ounce mark following Wednesday’s robust performance, buoyed by declining government bond yields and dollar weakness. The yellow metal experienced minor pullback during Thursday’s early session while maintaining proximity to recent peak levels.
As of 02:37 ET, spot gold declined 0.7% to settle at $4,491.95 per ounce, whereas gold futures registered a modest 0.1% gain to $4,549.14. Silver advanced 0.1% to $67.08 per ounce, while platinum retreated 0.8% to $1,807.32.
Gold Dec 26 (GC=F)
Expanded Treasury Program Pressures Yields Lower
Wednesday’s significant price movement was primarily attributed to an unexpected Treasury Department declaration. Officials announced plans to expand certain bond-buyback operations focused on longer-maturity government securities by a minimum of twofold.
This heightened purchasing activity created downward pressure on long-term Treasury yields. Since gold generates no yield, declining rates diminish the comparative advantage of yield-bearing investments, enhancing bullion’s appeal to market participants.
The U.S. dollar remained under pressure as well. Dollar weakness enhances gold’s affordability for international purchasers utilizing alternative currencies, typically boosting overall demand.
Analysts at ANZ noted the Treasury’s decision reflects policymakers’ desire to reduce financing costs. They emphasized that looser monetary conditions typically create favorable circumstances for precious metals.
The metal had been staging a recovery after temporarily dipping to $4,000 per ounce during the previous month. ANZ highlighted resurgent institutional interest and central bank acquisitions as contributing factors to the rebound.
Central Bank Maintains Vigilance on Price Pressures
Records from the Federal Reserve’s July policy gathering painted a more reserved outlook. Multiple central bank officials expressed readiness to implement rate increases. Several policymakers suggested tightening would become necessary should inflation fail to progress toward the Fed’s 2% objective.
Capital Economics analyst Ariane Curtis noted the minutes validated the Fed’s increasingly hawkish posture since June. Nevertheless, she observed that recent inflation metrics, employment figures, and economic activity indicators have all disappointed, implying rate increases remain unlikely in the near term.
Financial markets are currently assigning a 67.3% likelihood that the Fed maintains current rates at the September policy session, versus a 32.7% probability of an increase, based on CME FedWatch data.
Elevated interest rates typically exert pressure on gold valuations by enhancing the attractiveness of yield-generating alternatives. The ongoing dynamic between Treasury’s yield-reduction efforts and the Fed’s inflation-fighting posture will likely continue shaping precious metal performance in coming months.
Federal government obligations have surpassed $40 trillion for the first time in history, Treasury Department figures confirm.
According to World Gold Council survey results, 45% of central banking institutions worldwide plan to expand their gold positions, pointing to inflation concerns and geopolitical risks as primary motivations.
The post Gold Prices Stabilize Around $4,500 Mark as Treasury Buyback Program Expands appeared first on Blockonomi.

Key Takeaways
Treasury Department plans to expand purchases of long-term government bonds by at least double beginning September, triggering a yield decline
Bitcoin jumped more than 9%, crossing the $70,000 threshold for the first time since June
Major equity indices including the S&P 500, Dow Jones, and Nasdaq each rose 0.2% Wednesday, ending a three-session decline
Minutes from the Federal Reserve’s July policy meeting revealed three members favored raising interest rates, indicating hawkish sentiment
America’s national debt surpassed the $40 trillion mark amid escalating tensions with Iran
In a dramatic market reversal, Bitcoin soared to $70,000 for the first time in over two months following an unexpected Treasury Department announcement to significantly expand its long-dated bond purchasing program. Equity markets found their footing while Treasury yields retreated from recent highs.
The Treasury Department revealed plans to increase its acquisition of longer-maturity government securities by a minimum of 100% beginning in September. This strategic intervention successfully eased tensions in the bond market that had been weighing on equity valuations throughout the week.
Benchmark 10-year Treasury yields declined approximately 5 basis points to settle at 4.65%. Meanwhile, 30-year bond yields decreased 9 basis points to 5.19%. Declining yields generally provide support for risk-oriented assets including equities and cryptocurrencies.
The cryptocurrency market responded aggressively to the news. [[LINK_START_1]]Bitcoin[[LINK_END_1]] surged over 9%, breaking through the psychologically significant $70,000 level—a price point last seen in early June.
Early Thursday trading showed stock index futures holding steady. S&P 500 futures registered modest gains, Dow futures remained relatively unchanged, and Nasdaq-100 futures advanced approximately 0.2%.
E-Mini S&P 500 Sep 26 (ES=F)
Federal Reserve Minutes Reveal Hawkish Dissent
Wednesday’s release of Federal Reserve meeting minutes from the July 28-29 session disclosed that three policymakers advocated for implementing a 25-basis-point interest rate increase. This dissent represented a more aggressive stance than markets had anticipated.
Multiple committee members expressed concerns that additional monetary tightening might become necessary should inflation remain persistently above the central bank’s 2% objective. During that July meeting, the Fed maintained its policy rate within the 3.50% to 3.75% range.
Federal Reserve Chair Kevin Warsh had previously indicated a preference for allowing market forces to contribute to economic tightening. However, Treasury Secretary Scott Bessent’s bond-purchasing initiative may undermine that strategy.
Despite the hawkish tone of the minutes, market participants appeared more focused on the Treasury’s intervention, which had a more pronounced impact on investor sentiment.
Energy Markets, Geopolitical Tensions, and Fiscal Concerns
Oil prices commanded significant attention as well. International crude benchmarks climbed back toward $92 per barrel following diminished expectations for a rapid resolution to US-Iran tensions. Elevated energy prices could sustain inflationary pressures.
President Trump announced via Truth Social that the United States intends to initiate what he termed “Economic D-Day” targeting Iran, describing plans for unprecedented economic isolation and financial warfare against the nation.
BREAKING: Trump announces "the most crushing economic operation ever taken against a country" against Iran.
Trump implies the US will directly target China and Russia, saying "any country that allows its financial institutions, businesses, airports, or government entities to… pic.twitter.com/Hu3fzEyC0x
— The Hormuz Letter (@HormuzLetter) August 19, 2026
America’s total national debt eclipsed the $40 trillion threshold, having more than doubled within the past ten years. This fiscal milestone intensified ongoing concerns regarding the nation’s long-term economic sustainability.
Among individual equity movers, Moderna experienced a remarkable rally of nearly 177% following encouraging clinical trial data for a personalized mRNA-based cancer treatment developed in partnership with Merck. The healthcare sector gained 3.5% on the strength of this news.
Walmart is scheduled to release quarterly earnings on Thursday. Wall Street analysts anticipate solid performance but project deceleration in revenue growth.
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Key Takeaways
Brent crude climbed to $92.82 per barrel while WTI reached $86.75, marking three-week peaks
Crude benchmarks have posted consecutive gains for five trading sessions amid Iran conflict
Commercial traffic through the Strait of Hormuz continues at significantly reduced levels
Trump announced plans for unprecedented economic sanctions targeting Tehran
The United Arab Emirates halted all economic and financial dealings with Iran
Crude oil benchmarks surged to three-week highs during Thursday’s trading session, with Brent crude advancing 1.3% to reach $92.82 per barrel while West Texas Intermediate touched $86.75. Both contracts extended their winning streak to a fifth consecutive session.
Brent Crude Oil Last Day Financial Futures (BZ=F)
The upward momentum stems from the continuing military confrontation between the United States and Iran, which commenced when American and Israeli forces launched strikes against Iranian targets on February 28. In response, Tehran has effectively choked off access to the Strait of Hormuz, a critical maritime corridor that historically transported approximately 20% of global crude oil supplies.
BREAKING: President Trump posts an image claiming that the Strait of Hormuz is now "new US territory."
US oil prices extend gains toward $85 per barrel. pic.twitter.com/JZvodNadlG
— The Kobeissi Letter (@KobeissiLetter) August 18, 2026
Latest maritime monitoring data indicates that vessel traffic traversing Hormuz continues to operate at significantly diminished capacity compared to pre-conflict volumes, contradicting Washington’s assertions that the strategic waterway remains operational. Iranian officials have disputed U.S. claims, with neither party showing signs of reaching a diplomatic breakthrough.
“Middle Eastern tensions continue to escalate, creating conditions favorable to additional supply chain interruptions,” noted Giovanni Staunovo, a commodity analyst at UBS. “Reduced petroleum exports from the region are contributing to market tightening once again.”
The United Arab Emirates intensified economic pressure by announcing the suspension of all commercial and financial interactions with Iran effective immediately. This decision highlighted the deteriorating diplomatic relations between two major Gulf region powers.
Trump Unveils Historic Sanctions Package
President Donald Trump ramped up his confrontational approach on Wednesday, proclaiming what he characterized as the “most crushing economic operation ever taken against any country.” He framed the initiative as economic combat of historic proportions and cautioned international partners against maintaining commercial relationships with Tehran.
BREAKING: Trump announces "the most crushing economic operation ever taken against a country" against Iran.
Trump implies the US will directly target China and Russia, saying "any country that allows its financial institutions, businesses, airports, or government entities to… pic.twitter.com/Hu3fzEyC0x
— The Hormuz Letter (@HormuzLetter) August 19, 2026
Trump refrained from providing specific information regarding the scope or mechanisms of the forthcoming economic restrictions. He maintained that American forces retain operational authority over the Strait of Hormuz and suggested diplomatic engagement with Iran might resume “at some point.”
Iranian leadership has rejected these characterizations, asserting that substantive negotiations have not occurred. Tehran continues to insist that the United States honor commitments outlined in a June memorandum of understanding before meaningful discussions can advance. That framework agreement expired this week without extension or renewal.
Hiroyuki Kikukawa, chief market strategist at Nissan Securities Investment, indicated that petroleum markets will probably sustain their incremental upward trajectory given ongoing uncertainties surrounding peace negotiations and escalating tensions involving the UAE, Oman, and Iran.
From a supply perspective, American distillate reserves—encompassing diesel fuel and heating oil—declined for the third consecutive week. Conversely, crude oil inventories unexpectedly increased by 4.4 million barrels.
Strategic petroleum reserve releases by major consumer nations, including the United States, have partially mitigated supply disruptions. Nevertheless, market analysts anticipate that the Middle Eastern security crisis will continue providing upward price support for crude oil throughout the coming months.
The September WTI futures contract concluded trading on Thursday, while the more actively traded October contract settled at $85.52, representing a 1.3% daily gain.
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Key Takeaways
BNP Paribas analyst Nick Jones reaffirmed his Outperform rating on META stock with an $855 price target, suggesting a potential 57% gain from current trading levels.
The social media giant may capitalize on surplus AI computing infrastructure via short-term or strategic cloud partnerships, though only if internal needs permit.
During May’s shareholder meeting, CEO Mark Zuckerberg acknowledged that monetizing excess computing capacity is “definitely on the table.”
BNP anticipates Meta’s advertising platform will sustain momentum, with cloud offerings providing supplementary revenue opportunities.
Consensus among Wall Street analysts leans heavily positive with a Strong Buy rating: 38 Buy recommendations, 5 Hold ratings, and a mean price target of $752.18.
Meta Platforms has deployed substantial capital toward AI infrastructure buildout, and analysts are increasingly identifying monetization pathways that extend beyond traditional advertising revenue.
Following discussions with Meta executives, BNP Paribas analyst Nick Jones established an $855 price target for META shares, maintaining his Outperform stance. This target represents approximately 57% appreciation potential from present valuation levels.
At the time Jones issued his research note, META shares were changing hands near $544.
The thesis centers on a clear premise. Meta has accumulated significant computational resources designed to power its AI initiatives. Should actual internal requirements fall below projections, the company possesses the option to commercialize that excess capacity through external partnerships.
However, this approach differs fundamentally from conventional cloud service models. Company leadership has emphasized that the objective involves monetizing AI intelligence rather than functioning as a commodity compute infrastructure provider.
Any potential cloud arrangements would likely be limited in duration or strategically targeted. Meta intends to reserve the majority of its computational assets for proprietary applications and platforms.
During the company’s May shareholder gathering, CEO Mark Zuckerberg publicly commented on this possibility. He confirmed that monetizing surplus computing resources remains “definitely on the table,” while noting that Meta hasn’t pursued this avenue yet due to anticipated internal utilization.
Advertising Platform Remains Core Growth Driver
Jones also highlighted Meta’s foundational advertising operations as a reliable growth engine. His analysis suggests the advertising division will maintain solid performance metrics, with potential cloud revenue streams serving as incremental contributions.
The analyst projects that Meta will ultimately generate sufficient returns to validate its aggressive capital deployment strategy. Operational discipline around expenses, according to Jones, should support margin expansion as the current investment phase reaches maturity.
Capital spending is projected to increase through 2027, after which revenue realization should become more apparent.
Infrastructure Availability Poses Post-2028 Challenge
BNP identified one notable concern: infrastructure supply constraints beginning in 2028. Management teams are monitoring possible limitations related to power grid capacity and evolving regulatory frameworks surrounding computing infrastructure development.
Jones holds the 285th position among 12,488 Wall Street analysts tracked by TipRanks.
The overall Street sentiment toward META remains decidedly optimistic. Analyst consensus reflects a Strong Buy rating derived from 38 Buy recommendations and 5 Hold ratings issued over the trailing three-month period. The consensus 12-month price target stands at $752.18, implying roughly 38% upside potential.
BNP’s $855 projection exceeds the Street consensus substantially, positioning it among the most bullish forecasts currently tracking the stock.
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Key Takeaways
LCID shares advanced 2.6% following the announcement of its 2027 Air sedan range without any pricing adjustments.
The primary update involves streamlined options for the Air Pure variant, featuring a newly introduced $6,250 Stealth & Sound Package.
Shares have declined 44% year-to-date in 2026, amid manufacturing disruptions, workforce reductions, and financial uncertainty discussions.
The company eliminated 18% of its domestic workforce and reduced annual operational expenses by approximately $1.4 billion.
Analysts maintain a Hold rating on LCID with a consensus target of $9.17, suggesting potential upside of about 55%.
Shares of Lucid posted a 2.6% gain on Wednesday following the electric vehicle manufacturer’s announcement of its 2027 Air sedan series, maintaining consistent pricing across all configurations in both United States and Canadian markets.
The complete Air lineup—comprising the Pure, Touring, Grand Touring, and Sapphire variants—enters the upcoming model year without any price modifications. The Air Grand Touring continues to lead the range with an EPA-estimated 512-mile driving distance on a single charge.
For the 2027 model year, the most significant update centers on configuration changes for the Air Pure. The automaker consolidated numerous individual options into a streamlined selection process, introducing the Stealth & Sound Package at $6,250, which combines the most popular enhancements for this entry-level trim.
Lucid's 2027 Air lineup is mostly a cleaner configurator — plus a Stealth pack
What this means
Lucid unveiled the 2027 Air and kept sticker prices flat across all four trims in the US and Canada. The Grand Touring still claims the longest range on sale at up to 512 miles, and…
— Tesla_Optimus (@Tesla_Optimus_K) August 20, 2026
The decision to maintain stable pricing carries particular significance in the current market environment. Electric vehicle costs have generally increased industry-wide due to elevated import duties and the expiration of the $7,500 federal EV incentive program in late 2025. Lucid chose to absorb these financial pressures rather than transfer them to consumers.
The Air sedan has been making notable progress in the premium electric vehicle marketplace. Data from Electrek indicates it claimed the position of best-selling luxury electric sedan in the United States during the previous year, surpassing Tesla’s Model S.
LCID Faces Challenging 2026
Notwithstanding Wednesday’s positive movement, LCID has experienced a 44% decline throughout 2026. The equity has faced headwinds from several sources.
During the earlier portion of this year, a defective component in the second-row seating system compelled Lucid to suspend Gravity SUV deliveries for a 29-day period. The interruption proved significant enough that newly appointed CEO Silvio Napoli withdrew the company’s annual production forecast of 25,000 to 27,000 units.
In mid-July, the stock experienced volatile trading and temporary circuit breaker halts following media reports suggesting advisers were evaluating potential Chapter 11 bankruptcy protection or a privatization transaction. Leadership refuted the speculation, highlighting approximately $3 billion in available liquidity projected to sustain operations through 2027.
In response to the bankruptcy speculation, Lucid implemented swift and substantial organizational changes. The enterprise reduced its domestic workforce by 18% and eliminated approximately $1.4 billion in yearly operating expenditures.
Regarding financial performance, Lucid posted a quarterly loss of $2.78 per share, falling short of analyst projections of $2.36. Revenue totaled $405.35 million, surpassing the $381.59 million consensus estimate. Revenue demonstrated a 56.2% increase compared to the corresponding period in the prior year.
Institutional Activity Shows Growing Interest
Despite the stock’s challenging performance, institutional investors have been expanding their positions. Bank of America grew its holdings by 10.9% during the first quarter, bringing total ownership to slightly above 1.9 million shares worth approximately $18.3 million.
Goldman Sachs executed a substantial increase in its stake, expanding its position by 112% to exceed 5.4 million shares. BNP Paribas enhanced its holdings by 93.5%, while Uber Technologies established a fresh position valued at roughly $326 million. Institutional ownership currently represents 75.17% of outstanding shares.
Wall Street analyst sentiment remains measured. William Blair shifted LCID to a market perform rating on August 3rd. Morgan Stanley maintains a $5.00 price objective on the shares, while Evercore’s target stands at $6.00.
The prevailing Street consensus ranks LCID as a Hold, with a mean price target of $9.17, suggesting approximately 55% potential appreciation from present levels based on one Buy recommendation, seven Hold ratings, and four Sell recommendations.
The post Lucid (LCID) Stock Rises 3% After 2027 Air Pricing Announcement Keeps Rates Unchanged appeared first on Blockonomi.

Key Takeaways
Shares of SMCI declined 2.2% to reach $36.58 following fourth-quarter revenue of $11.12 billion that fell below the $11.60 billion analyst consensus
Despite missing expectations, revenue surged 93% compared to the same period last year, while earnings per share exceeded forecasts
The company announced over $60 billion in fresh orders and projected fiscal 2027 revenue between $65 billion and $72 billion
Technical analysis points to a Buy signal, with shares climbing 25% so far this year
Analyst consensus remains at “Hold” with a mean price target of $42.13
Shares of Super Micro Computer (SMCI) retreated 2.2% to close at $36.58 on Wednesday following the release of quarterly results that showed record-breaking revenue figures that nonetheless disappointed market expectations.
Intraday trading saw the stock bottom out at $35.72. Trading volume registered approximately 35 million shares, representing a 23% decrease from typical activity levels.
The server and storage solutions provider posted fourth-quarter revenue of $11.12 billion, marking a substantial 93.2% increase from the prior-year period. While impressive in isolation, the figure fell short of the Street’s $11.60 billion projection, triggering investor concern.
Although the company exceeded expectations on the earnings per share front, providing some relief, the magnitude of the revenue shortfall became the primary focal point for market participants.
Massive Order Pipeline and Ambitious Projections
Looking beyond the revenue disappointment, Super Micro unveiled impressive metrics that paint a promising picture. The enterprise reported securing over $60 billion worth of new orders while establishing fiscal 2027 revenue projections ranging from $65 billion to $72 billion.
These forecasts underscore robust appetite for AI-driven infrastructure and data center platforms, segments where Super Micro has been making significant strategic investments.
The company’s liquid-cooling innovations and comprehensive data center offerings represent core pillars of its competitive strategy. Major rivals including Hewlett Packard Enterprise and Dell continue vying for market share in these rapidly expanding categories.
Market apprehension extends beyond the single-quarter revenue shortfall. Challenges related to inventory optimization, client diversification, and unresolved legal and corporate governance matters continue impacting investor confidence.
A portion of Wednesday’s selloff was attributed to profit-taking activity. With SMCI shares having appreciated 25% year-to-date, some investors opted to realize gains.
Analyst Community Perspective
The Street’s reaction to the earnings release was generally cautious. Mizuho established a $35.00 price objective with a neutral stance. Citigroup upgraded its target from $33.00 to $39.00 while maintaining a neutral rating. Stifel Nicolaus posted a $42.00 target. Bank of America retained an underperform designation.
Among the 18 analysts providing coverage, four recommend buying SMCI, 12 advise holding, and two suggest selling. The consensus price objective stands at $42.13, indicating potential appreciation from present levels.
Technical analysis presents a contrasting perspective to the fundamental analyst consensus. Based on TipRanks metrics, SMCI demonstrates an aggregate Buy signal, supported by 14 bullish indicators, five neutral readings, and three bearish signals.
The equity currently trades above both its 20-day exponential moving average of $33.04 and its 50-day exponential moving average of $31.60. These positioning metrics are typically interpreted as positive momentum indicators.
The Williams %R oscillator indicates the stock has not entered overbought territory. Meanwhile, the Rate of Change metric registers 45.56%, further supporting an upward trajectory.
SMCI commands a market capitalization of $22 billion. Its price-to-earnings ratio of 11.43 appears modest relative to certain competitors operating within the AI infrastructure ecosystem.
The aggregated price target from TipRanks’ consensus sits at $40.85, suggesting approximately 11.7% upside potential from Wednesday’s $36.58 closing price.
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Key Highlights
Nvidia pursues investment opportunity in AI data platform Mercor with proposed $20 billion valuation, representing a 100% increase from its last funding round of $10 billion
The startup reported $614 million in gross revenue during H1 2026, achieving an annualized revenue run rate exceeding $2 billion by mid-year
Nvidia currently compensates Mercor with millions of dollars for specialized training data utilized in developing its Nemotron suite of open-source AI technologies
Investment firm General Catalyst spearheads the funding initiative; Mercor’s client roster includes major AI players such as OpenAI, Google DeepMind, and Anthropic
Analysts maintain a Strong Buy rating on NVDA shares with mean price objective of $306.13, suggesting potential gains exceeding 40%
Nvidia is engaged in advanced discussions to make a substantial investment in Mercor, a specialized AI data labeling and talent acquisition platform, with preliminary valuations hovering around $20 billion. This represents a significant leap from the startup’s previous Series C valuation of $10 billion.
NVIDIA EYES MERCOR INVESTMENT$NVDA has discussed investing in AI data supplier Mercor as part of a funding round that would value the startup at $20 billion, The Information reports.
Mercor hires specialists across fields such as science, law and finance to train and evaluate… pic.twitter.com/xDqeh2XOyW
— Wall St Engine (@wallstengine) August 19, 2026
Venture capital firm General Catalyst is spearheading this latest fundraising initiative. The transaction remains under negotiation and has not yet reached completion.
Three San Francisco-based college dropouts—Brendan Foody, Adarsh Hiremath, and Surya Midha—established Mercor in 2023. The platform facilitates connections between domain specialists across sectors including legal, financial, and scientific disciplines and artificial intelligence laboratories seeking expertise for model refinement.
The chip manufacturer has emerged as one of Mercor’s most significant clients. During the previous quarter, Nvidia allocated millions of dollars to acquire premium-grade training datasets from the startup.
These datasets play a crucial role in developing Nvidia’s Nemotron collection of open-source artificial intelligence models, strategically positioned to rival proprietary platforms developed by organizations such as OpenAI and Google DeepMind.
The business partnership has intensified to the point where multiple Mercor staff members now dedicate nearly their entire workweek to Nvidia-related initiatives.
Explosive Revenue Trajectory at Mercor
The startup has demonstrated remarkable expansion velocity. During the initial six months of 2026 alone, Mercor generated $614 million in gross receipts. By June’s conclusion, the company’s annualized gross revenue trajectory had surpassed the $2 billion threshold, representing more than a twofold increase compared to the previous year.
Proprietary AI development firms continue to constitute the majority of Mercor’s revenue sources. Major technology clients include OpenAI, Google DeepMind, and Anthropic. Nvidia has simultaneously engaged alternative data annotation providers, including Turing and Scale AI.
Strategic Diversification in Nvidia’s Investment Portfolio
This prospective transaction aligns seamlessly with Nvidia’s evolving investment philosophy. The semiconductor leader has expanded well beyond its traditional hardware sales model. The company now actively deploys capital throughout the artificial intelligence ecosystem, spanning infrastructure funds, software platforms, and data providers.
During a single fiscal quarter, Nvidia committed an impressive $18.6 billion toward private enterprises and infrastructure investment vehicles. This represents an unusually aggressive venture capital footprint for a semiconductor manufacturer.
Securing an ownership position in Mercor would provide Nvidia with enhanced control over the data supply chain supporting its proprietary AI model initiatives. The strategic move also ensures preferential access to premium expert-annotated datasets amid escalating industry-wide demand for specialized training information.
NVDA stock experienced a 0.99% decline at the time of this report.
Analyst sentiment toward Nvidia remains overwhelmingly positive. With 34 Buy recommendations and a single Hold rating issued over the most recent three-month period, the equity maintains a Strong Buy consensus rating. The mean analyst price target stands at $306.13, implying potential appreciation exceeding 40% from present trading levels.
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Key Highlights
CRCL shares surged 9.56% during regular hours and added another 2.37% in after-hours trading, reaching $80.45
USDC transaction count surged 209% year-over-year in the first half of 2026, contrasting with declining Tether USDT activity
Bitcoin rallied nearly 8% to reach the $70,000 threshold, boosting momentum across crypto-related equities
White House crypto summit with President Trump focused on advancing the CLARITY Act legislation
Analysts maintain a Moderate Buy consensus on CRCL with a $98.61 average price target
Shares of Circle Internet Group (CRCL) posted impressive gains on August 19, advancing 9.56% to close at $78.59 in regular market hours. The momentum continued into extended trading, with shares adding another 2.37% to reach $80.45.
The rally stemmed from a combination of factors: compelling new data demonstrating USDC’s competitive gains against Tether, coupled with a broader upswing in cryptocurrency-related stocks.
According to recent figures, USDC transactions exploded 209% on a year-over-year basis during the first six months of 2026, with overall transaction volume climbing 101% during the comparable timeframe. In contrast, Tether’s USDT experienced declining transaction metrics, despite maintaining its position as the dominant stablecoin.
These statistics originate from NOWPayments, a cryptocurrency payment processor. The company observed that while USDT continues to provide the scale and liquidity that most enterprises depend on, USDC is emerging as a compelling alternative option.
NOWPayments further highlighted that corporations are progressively deploying both stablecoins for routine business functions, encompassing employee compensation and treasury management. The payment processor characterized stablecoins as evolving into essential business infrastructure rather than merely serving as a payment mechanism.
Broader Crypto Market Momentum Benefits Circle
Circle’s stock performance wasn’t an isolated incident. Bitcoin posted robust gains of nearly 8% on Wednesday, climbing to $70,000—a level not witnessed since early June. This cryptocurrency rally generated positive spillover effects across numerous blockchain-related stocks, with Circle participating in the upward movement.
Declining Treasury yields provided additional support. Following the Treasury Department’s expansion of its bond-buyback initiative, the 30-year yield retreated to approximately 5.2%, while the 10-year yield dropped to 4.65%.
Adding to the optimistic atmosphere, President Trump’s scheduled White House meeting with cryptocurrency industry leaders generated anticipation. This gathering occurred following the SEC’s unexpected cancellation of a related event, and sparked optimism regarding regulatory clarity through the potential passage of the CLARITY Act.
During the summit, Trump advocated for Congressional approval of the CLARITY Act, characterizing it as comprehensive legislation designed to maintain America’s competitive edge over China in the digital asset sector.
Analyst Perspective on CRCL
Circle currently holds a Moderate Buy consensus rating based on assessments from 21 Wall Street analysts. This rating consists of 13 Buy recommendations, five Hold ratings, and three Sell opinions issued within the last three months.
Analysts have established an average price target of $98.61, suggesting approximately 25% potential upside from the stock’s current trading level.
From a technical perspective, CRCL’s Relative Strength Index (RSI) registers at 61.76. The company carries a market capitalization of $19.95 billion, with shares having fluctuated between a 52-week low of $49.90 and a peak of $159.47.
Looking at the trailing twelve-month period, the stock has declined 42.97%, and currently trades at approximately 26% of the distance between its annual low and high points.
Extended trading on August 19 concluded with CRCL priced at $80.45.
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Key Takeaways
Shares of WOLF declined 11% in extended trading following fourth-quarter earnings release
The company posted an EPS loss of $2.26, beating one projection but significantly missing another consensus estimate of $0.52 loss
Fourth-quarter revenue reached $149.6 million, falling short of certain Wall Street expectations of $223.55 million
Revenue from AI data center applications more than doubled compared to last year and increased 20% sequentially
First-quarter revenue outlook ranges from $140 million to $160 million, with continued margin challenges expected
Shares of Wolfspeed tumbled 11% during after-hours trading Tuesday following the release of the silicon carbide manufacturer’s fiscal fourth-quarter financial results. The decline extended losses from the regular session, where the stock had already retreated 7.5% to close at $26.00.
For the fourth quarter, the company disclosed an earnings per share loss of $2.26. While this figure surpassed one analyst projection of a $2.45 loss, it fell considerably short of an alternative consensus estimate calling for just a $0.52 loss. Quarterly revenue totaled $149.6 million, aligning with certain forecasts but substantially trailing others anticipating $223.55 million.
WOLFSPEED $WOLF Q4’26 EARNINGS HIGHLIGHTS
Revenue: $149.6M (Est. $224M)
Adj. EPS: -$2.26 (Est. -$2.45)
Gross Margin: -25%
Free Cash Flow: -$60.9M (Est. -$108M)
Q1 Guide:
Revenue: $140M-$160M (Est. $150M)
Non-GAAP Gross Margin: Negative
Non-GAAP… pic.twitter.com/rVhlGkPI3j
— Wall St Engine (@wallstengine) August 19, 2026
The company’s gross margin registered at 25% for the period. Management pointed to insufficient factory utilization as the primary driver behind the margin performance. This underutilization issue is anticipated to persist and continue impacting profitability through the current quarter.
Artificial Intelligence Delivers Strong Growth
Among the quarterly highlights, Wolfspeed’s artificial intelligence segment stood out prominently. Revenue generated from AI data center customers more than doubled on a year-over-year basis during Q4, while posting 20% sequential growth from the third quarter. Company leadership characterized this performance as representing a notable evolution in the firm’s customer demand profile.
This AI-driven expansion has helped counterbalance significant weakness in electric vehicle demand. Sales linked to the EV sector have contracted across both of the company’s core business units: the materials segment, which manufactures silicon carbide wafers, and the power products division.
The materials business unit experienced particularly challenging conditions. Year-over-year sales plummeted 44%, while also declining nearly 14% from the prior quarter. Market analysts identified this materials segment weakness as a primary catalyst for the after-hours selloff, overshadowing the partial earnings beat.
Financial Position and Liabilities
Wolfspeed concluded the quarter holding $1.1 billion in cash reserves. The company’s total debt obligation currently sits at $1.7 billion. Leadership indicated meaningful progress was achieved in decreasing the debt burden throughout the quarter.
The organization entered Chapter 11 bankruptcy protection on June 30, 2025, successfully emerging from the restructuring process last September. Following the bankruptcy exit, WOLF shares had surged as much as 80% on a year-to-date basis prior to Tuesday’s decline.
Looking ahead to the first quarter, Wolfspeed issued revenue guidance ranging from $140 million to $160 million. The $150 million midpoint closely matches Wall Street’s consensus projection of $150.4 million. Operating expenditures are projected to fall between $62 million and $66 million.
Management cautioned that gross margin pressure will likely continue as a result of persistent factory underutilization challenges.
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Key Highlights
Samsung Electronics plans to unveil an investor return initiative exceeding 100 trillion won ($72 billion)
Board approval expected by the conclusion of August
Fifty percent of free cash flow will finance the initiative
Cash dividends, not share repurchases, will dominate the programme due to compliance considerations
Announcement comes after SK Hynix revealed its 40 trillion won ($29 billion) share buyback strategy on Wednesday
Shares of Samsung Electronics (005930) jumped 9.49% on Thursday following reports that the tech giant is developing an investor return initiative valued at over 100 trillion won ($72 billion).
MoneyToday broke the story, referencing insider sources who indicated that a board meeting would take place before August concludes to officially greenlight the proposal.
Should the plan materialize, it would represent one of the most substantial shareholder return initiatives in South Korean corporate history.
The initiative will draw funding from half of the corporation’s free cash flow. Samsung disclosed last month that its board had begun deliberating this year’s shareholder compensation strategy, with special dividend payments under consideration.
Cash dividends will take center stage instead of stock buybacks. According to the report, share repurchase programs could trigger regulatory challenges related to Samsung Life Insurance and Samsung Fire & Marine Insurance, both entities with ownership connections to the parent corporation.
Certain market observers had speculated that Samsung might distribute up to 200 trillion won to shareholders. MoneyToday indicated this estimate was deemed impractical considering the company’s substantial ongoing capital expenditure obligations.
SK Hynix Establishes the Benchmark
Samsung’s announcement follows closely behind domestic competitor SK Hynix, which unveiled a 40 trillion won ($29 billion) share repurchase and retirement program just one day earlier. SK Hynix committed to dedicating over 50% of free cash flow produced from 2025 through 2027 toward investor distributions.
That program represented the most generous shareholder return commitment from any publicly traded South Korean enterprise. Samsung’s reported strategy would eclipse it.
SK Hynix ranks as the globe’s second-largest memory semiconductor manufacturer. Samsung maintains the leading position.
Programme Components
According to MoneyToday’s reporting, Samsung’s blueprint features special cash dividends as a central element. The board convening is anticipated during August’s final days.
Samsung had previously indicated its intention to strike a balance between investor payouts and capital allocation for future expansion. The corporation is managing an artificial intelligence-fueled semiconductor demand surge that has elevated earnings throughout the memory chip industry.
The 50% free cash flow commitment reflects the framework SK Hynix adopted for its programme, revealed the previous day.
Samsung’s 005930 shares climbed 9.49% on the Seoul exchange in response to the announcement.
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Quick Summary
Alibaba’s fiscal Q1 results arrive Thursday prior to the opening bell in U.S. markets
Analysts project net income to decline to 21.8 billion yuan versus 43.12 billion yuan in the year-earlier period
Top-line growth anticipated at 266.78 billion yuan, climbing from 247.65 billion yuan previously
Shares in Hong Kong have jumped 36% during the current quarter, outpacing the Hang Seng Tech Index
Alibaba commands 37% of China’s cloud infrastructure market, significantly ahead of Huawei’s 17% share
Thursday morning brings Alibaba’s fiscal first-quarter financial results, scheduled for release ahead of the U.S. trading session. The company’s shares have experienced notable strength leading into the announcement, climbing 36% in Hong Kong throughout the quarter—marking its strongest relative performance versus Tencent since the beginning of 2025.
Trading in Hong Kong saw the stock advance up to 2.3% Thursday morning before the earnings release. However, the American depositary receipts tell a less optimistic tale, declining roughly 13% since the start of the year, highlighting divergent regional sentiment.
Wall Street consensus compiled by FactSet projects earnings of 21.8 billion yuan ($3.23 billion) for the June-ended quarter. This represents a significant contraction from the 43.12 billion yuan reported during the comparable period last year.
The anticipated earnings compression stems from aggressive capital allocation toward artificial intelligence infrastructure, cloud services, and rapid commerce initiatives. Company leadership has made clear this investment strategy is intentional and strategic.
Top-line performance presents a contrasting narrative. Consensus estimates call for quarterly revenue of 266.78 billion yuan, representing an increase from 247.65 billion yuan year-over-year. Data from Bloomberg suggests this translates to 8.4% expansion, potentially marking the strongest growth rate in close to three years.
Cloud Business Under the Microscope
The cloud computing segment represents the critical metric investors will scrutinize. Alibaba maintains approximately 37% of China’s cloud infrastructure market share as of the fourth quarter of 2025, per analytics firm Omdia. Huawei captures 17%, while Tencent accounts for 10%. This competitive positioning carries significant implications.
JPMorgan’s Alex Yao suggested in a research note that results could prove “better than feared,” highlighting expectations for reduced losses in food delivery and rapid commerce operations, alongside accelerating cloud revenue and expanding margins.
Citigroup’s Alicia Yap observed that organizations possessing “full-stack capabilities, from chips and cloud infrastructure to models and applications” enjoy superior long-term positioning, specifically identifying Alibaba among this group.
The tech giant develops proprietary semiconductor technology and delivers a comprehensive portfolio spanning the Qwen consumer application to enterprise development tools and artificial intelligence agents.
Alibaba’s open-weight Qwen model family has been capturing increased market adoption internationally, benefiting from growing interest in China’s more cost-effective AI solutions.
Artificial Intelligence Strategy Reshapes Market Perception
The pivot toward AI has enabled Alibaba to transform its market narrative from embattled e-commerce operator to diversified technology infrastructure provider.
“Alibaba’s AI investments have been effective in reviving both investor interest in the stock and user engagement across its broader ecosystem,” said Gary Tan, portfolio manager at Allspring Global Investments.
For the first time in over ten years, Alibaba is maintaining a sustained valuation premium relative to Tencent—a development that reflects growing market confidence in its artificial intelligence roadmap.
The company disclosed plans to divest its Lingxi Games division to Asia-focused private equity firm Trustar Capital for no less than $1.5 billion, reallocating proceeds toward expanded AI development.
Both Tencent and Baidu experienced stock declines following underwhelming recent earnings announcements. Market participants will be monitoring whether Alibaba can buck this trend.
Primary areas of focus include cloud segment revenue trajectory and the rate at which rapid commerce operations are reducing losses.
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