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South Korea has approved the integration of Ripple into the country’s banking system on the same day a media watchdog voted to cut off access to the prediction market Polymarket. Regulators in South Korea have joined a widening crackdown against Polymarket while approving Ripple’s partnership with Jeonbuk Bank.
Ripple (XRP) has announced that Jeonbuk Bank will run cross-border business remittances over Ripple Payments, making it the first regional lender in the country to adopt the service. Traditional transfers have to be routed between intermediary banks on the SWIFT network, and this process can make transactions take days to clear. However, Ripple offers a route that settles in seconds to minutes and runs around the clock. The service is aimed at the bank’s importers, exporters, IT startups and online content creators. Jeonbuk is Ripple’s third Korean partnership of 2026, following a tokenized government-bond trial with Kyobo Life Insurance and a custody and wallet deal with internet-only Kbank.
South Korea votes to cut off access to Polymarket
Despite these partnership announcements in South Korea, XRP slipped under $1 to 98 cents in Asian morning trading on Tuesday, its weakest level since November 2024 and the worst performer among major coins over the day and week. The decline might be due to RLUSD, Ripple’s dollar-pegged stablecoin, which now does much of the institutional settlement work. Tokenized real-world assets on the XRP Ledger are worth roughly $1.38 billion, and $845 million of that is RLUSD, representing more than three-fifths of the total value.
RLUSD’s circulating supply reached approximately 1.71 billion tokens, with a market capitalization of around $1.71 billion. Ripple minted another 10 million RLUSD on the XRP Ledger on August 17. Despite the drop in XRP’s price, traders are still leaning long, with futures open interest near $2.78 billion. On the same day that the Ripple deal advanced, the Korea Media and Communications Standards Commission, another regulator in South Korea, voted to block domestic access to Polymarket, stating that the platform facilitates gambling under the Criminal Act and the National Sports Promotion Act.
The commission explained that because payouts hinge on events users cannot control and winners take the entire pot, the design “fuels gambling psychology.” It also noted the fact that Polymarket sets the markets, runs the settlement rails, and collects trading fees. Polymarket argued it had removed Korean-language services and won-denominated payments and therefore fell outside Korean law, but the regulator rejected that, saying technical features cannot exempt a platform providing “a real illegal gambling environment to domestic users.”
Cryptopolitan has been tracking the situation since the Korean police opened the country’s first criminal investigation into local Polymarket bettors after heavy trading around the June 3 national election. The commission began deliberations on July 6 after referrals from the National Police Agency. Beyond South Korea, more than 30 countries, including Italy, Indonesia, and Argentina, have blocked or limited Polymarket.
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OpenAI has started rolling out a version of ChatGPT built specifically for Teens aged 13 to 17. The rollout comes after OpenAI has been dragged through the courts over lawsuits tying ChatGPT conversations to teen suicides.
OpenAI is rolling out a new version of its flagship chatbot, ChatGPT, which will automatically place users aged 13 to 17 in the teen version. Users under 13 are barred from ChatGPT entirely. Even if teens try to trick the system by signing up with a fake birthdate, the system will consider signals such as the topics an account discusses, the hours it is active, and how long it has existed, in order to decide if a user is under 18 or not. Users who are still wrongly sorted can get their age verified through Persona, a third-party firm that reviews a government ID or a live selfie and deletes the upload within seven days.
OpenAI VP details benefits of new model to teenagers
Ann O’Leary, OpenAI’s vice president of global policy, said the goal is to stop exposing teens to material “they shouldn’t be exposed to.” Parents who link an account to a teen user can lock access to the chatbot at chosen times. They also receive alerts in limited high-risk cases, although OpenAI says the controls do not let them read a teen’s messages. OpenAI also said the teen ChatGPT version brings together its existing safety features rather than create new ones.
For instance, the age prediction feature has existed since the start of the year, while OpenAI’s parental controls and study mode were launched roughly a year ago. The company first revealed its plans for a teen tier in September 2025. The Federal Trade Commission (FTC) also made an official inquiry into OpenAI, Meta, Alphabet, xAI, Snap and Character.AI over how they protect minors around that period. The FTC specifically targeted “companion” chatbots following multiple tragic incidents, including the suicide of a 16-year-old who had interacted extensively with ChatGPT.
A 2025 study from Common Sense Media found more than 70% of U.S. teens have used AI chatbots for companionship, and half use AI companions regularly. A separate study found that ChatGPT would, when asked, tell 13-year-olds how to get drunk and high, hide an eating disorder, or draft a suicide note. Sam Altman has called emotional overreliance on the technology “a really common thing” among young people.
The teen experience will be available for eligible accounts on either free or paid personal plans. From August 18, the teen version will be available for eligible accounts with no restrictions for free accounts. The company is also planning a full rollout in Australia, expected by September 8.
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HTX-linked transfers have raised concerns after several wallets received USDT from addresses associated with the exchange.
Users fear the transactions could trigger compliance reviews, account freezes, or blocked activity across centralized and decentralized platforms.
Multiple wallets reportedly received small transfers linked to HTX, formerly Huobi. A token contract for a new HTX asset interacted with thousands of addresses on BNB Smart Chain. Other users reported receiving USDT from an address identified as HTX48.
An HTX ambassador said the exchange did not intentionally distribute assets and described such behavior as inconsistent with normal operations. Justin Sun, TRON founder and HTX owner, had not responded to questions about the reported spam activity. Sun has focused on artificial intelligence projects, including bonus tokens and access to a new model.
HTX Transactions Prompt Compliance Concerns
The activity has been described as compliance poisoning rather than a traditional dust attack. Standard dust attacks often attempt to confuse users into sending funds to incorrect addresses.
Exchanges in the European Union and other regions increasingly screen wallets and trace links to sanctioned entities. Binance has not confirmed whether it will specifically screen dust transfers. However, users remain concerned that interaction with HTX-linked addresses could trigger checks.
Some users said traders and crypto influencers may be particularly exposed to such reviews. Several key opinion leaders and industry participants have reported exchange accounts being frozen after receiving the transfers during recent reported activity.
Dusting History Shows Different Enforcement Outcomes
Similar incidents occurred after the United States sanctioned Tornado Cash. In one case, a user spent $50,000 sending dust transactions to multiple addresses connected with prominent individuals.
Those transfers did not result in all affected wallets or exchange accounts being banned. The US Office of Foreign Assets Control later determined that passive receipt of immaterial funds did not make recipients participants in sanctioned activity.
Recent HTX-linked transfers are larger than typical dust transactions, reaching as much as 12 USDT. The reported activity also involves genuine tokens rather than newly created or counterfeit assets.
Wallet Screening Practices Vary Across Platforms
Compliance procedures differ among exchanges and brokerage platforms. Binance has applied strict controls in some cases, including freezing accounts after suspicious transactions. Other platforms may flag incoming transfers while allowing users to move the assets back to self-custodial wallets.
The source states that wallets withdrawing from HTX after May 26 are considered sanctioned. It also says Hyperliquid and some decentralized finance protocols have started blacklisting related addresses.
HTX was included in a wider sanctions-related exchange crackdown. Binance froze transactions involving HTX, Exmo, and 14 other exchanges. Critics argue such measures may burden legitimate users while diverting resources from investigations into actual on-chain crime.
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Uniswap founder Hayden Adams says automated market makers could play a central role as tokenization reshapes markets.
His argument comes as demand grows for always-on infrastructure and more assets move onto blockchain-based trading systems.
Adams believes blockchains separate execution, custody, and settlement into distinct layers, unlike traditional market makers that combine those functions. He argues this structure can reduce barriers by avoiding the need for firms to manage every part of trading.
Why Uniswap Sees AMMs Suited to Tokenized Assets
Adams says AMMs are particularly effective for closely related asset pairs, where passive liquidity can face lower inventory risk. He also says these markets can offer costs that remain competitive with large professional trading desks.
His view is that continued migration of assets onchain will reorganize trading around related pairs and a limited number of cross-chain routes. Adams also expects this shift to widen market access as tokenized markets develop.
He has further suggested that passive AMM strategies could eventually operate similarly to index funds. The comments extend his defense of automated market makers in blockchain-based finance.
In January, Adams rejected criticism that liquidity providers are structurally undercompensated in AMMs. He pointed to growth in Uniswap pools and argued that AMM liquidity can be reused as collateral more easily than alternatives.
Tokenized Market Issuance Reaches $34.55 Billion
The latest comments arrive as tokenized real-world asset activity continues to expand. DeFiLlama data cited by Cryptopolitan showed RWA deposits rising from $650.88 million to about $3.98 billion within twelve months.
That increase represents roughly sixfold growth over the period. Total tokenized issuance across the sector has reached $34.55 billion, according to figures cited in the report.
Uniswap has also expanded its involvement in tokenized equities. As of August 13, the protocol supported more than 190 Robinhood stock tokens across its protocol, applications, and API.
One tokenized SPY trading pair recorded $33 million in volume over twelve days. The activity reflects Uniswap’s effort to participate in global, self-custodial, round-the-clock tokenized markets.
Uniswap Expands Tools for Regulated Token Issuers
In July, Uniswap introduced Permissioned Pools through a v4 hook designed for regulated tokenized markets. The feature limits trading access to wallets approved by the relevant issuer.
Tokenization companies Securitize, Superstate, and Dowgo were named as launch partners. The initiative allows issuers to use Uniswap infrastructure while maintaining approved-wallet trading restrictions.
Despite the broader tokenization push, UNI did not mirror the sector’s growth. CoinMarketCap listed UNI near $3.25 on the day of Adams’ post, with a market capitalization of about $2.03 billion.
That valuation remained below levels recorded earlier in the year, even as Uniswap increased its participation in tokenized assets and related trading infrastructure.
The post Uniswap Sees AMMs Driving Growth Across $34.55 Billion Tokenized Markets first appeared on Coinfea.

Pando Rings oracle exploiter activity returned on August 18 after the wallet remained inactive for two months.
The address linked to the 2022 hack swapped 3 million DAI for about 1,570 ETH through CoW Protocol. Blockchain tracker Onchain Lens reported that roughly 800 ETH, valued near $1.52 million, then moved to Tornado Cash across eight transactions.
The renewed activity follows years of intermittent movement from funds connected to the exploit. It came three days after Pando announced that its protocol would be sunset and its DeFi products placed into maintenance mode under Mixin oversight.
Pando Rings Hack Began With Oracle Manipulation
The original attack occurred on November 5, 2022, when the exploiter manipulated the price of the sBTC-WBTC liquidity provider token on 4swap. The distorted oracle price was used in an effort to withdraw about $70 million in crypto.
Before the team intervened, around $21.9 million in ETH, EOS, and BTC had already left two Mixin wallets controlled by the attacker. Pando later worked with Mixin Network and cybersecurity company SlowMist to freeze remaining assets.
Those frozen holdings included 2,022,662 EOS, then worth about $2.36 million, alongside other tokens valued above $50 million. Pando suspended Pando Rings, 4swap, Pando Leaf, and Pando Lake while the oracle issue was addressed and said customers would be reimbursed.
Exploiter Converts DAI Into Ether
The same address has resurfaced periodically since the hack. Lookonchain reported on June 6 that the wallet used 10 million DAI to purchase 6,243 ETH at an average price of $1,602.
The tracker commented that “even the hacker is buying the $ETH dip.” This week’s transaction again converted stablecoins into Ether, but part of the ETH was subsequently transferred through Tornado Cash.
Tornado Cash remains watched because it can make transaction links harder to follow. However, mixer activity can still draw attention from blockchain investigators monitoring known exploit addresses and fund movements.
PANDO RINGS EXPLOITER MOVES AFTER 2 MONTHS The Pando Rings exploiter became active again after two months, swapping 3M $DAI for 1.57K $ETH (~$3M) via CoW Protocol. It has since sent 800 $ETH (~$1.52M) to Tornado Cash across eight transactions. Pando Rings was exploited for… pic.twitter.com/r0rbP2zyjB
— Onchain Lens (@OnchainLens) August 18, 2026
Pando Winds Down While Old Funds Move
Tornado Cash was sanctioned by the US Treasury in August 2022. It was removed from the sanctions list on March 21, 2025, after a federal appeals court ruled that immutable smart contracts could not be treated as property under sanctions law.
Pando announced on August 15 that it was discontinuing the protocol and moving its DeFi products into maintenance mode. Pando Rings now supports only loan repayments and collateral withdrawals.
Immunefi data shows oracle-related ecosystem attacks have become less common. Such incidents fell from nearly 19% of DeFi loss cases in 2022 to under 1% in 2025. The latest transactions show that funds tied to older exploits can remain inactive for years before moving again.
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xAI challenges Minnesota’s HF 1606, restricting AI tools generating sexual images of identifiable people.
Attorney General Keith Ellison urged a federal judge Friday to reject xAI’s effort, calling Grok Imagine technology, not protected speech. The hearing is Wednesday.
Ellison said xAI is unlikely to win its constitutional claim or show irreparable harm. He wrote, “With Grok Imagine, X.AI has created an unparalleled marketplace for digital sexual violence, and the state would be defenseless from the start unless it could direct its laws at the technology itself.”
HF 1606 Targets AI Providers Directly
HF 1606 bars companies from enabling realistic images showing intimate parts absent from an identifiable person’s original photograph, or producing them. Violations can reach $500,000 per image, and depicted people may sue.
Unlike many deepfake laws, including the federal Take It Down Act, Minnesota requires neither knowledge nor intent. Texas contacted operators in 2025 when owners knew consent was absent or ignored takedown notices.
The House passed HF 1606 by 132 to 1 and the Senate 65 to 0 after reports that a man created sexual images of over 80 women he knew. Signed in April, it took effect August 1.
xAI sued July 27 and sought a temporary restraining order July 29. Judge Donovan Frank denied it July 31, saying the nearly three-month delay and three-day timing showed “harm is not immediate.”
xAI Argues Law Reaches Consensual Content
xAI accepts Minnesota’s interest in preventing nonconsensual imagery but says the statute goes further. It says Minnesota borrowed an intimate-part definition from bodily-contact crimes covering breasts and inner thighs, potentially reaching swimsuits and satire.
Page 19 cites a May 1 AI image Trump shared on Truth Social showing JD Vance, Marco Rubio, Doug Burgum, an unidentified woman, and the men shirtless in the Lincoln Memorial Reflecting Pool as a repair-cost joke. xAI says newly depicted breasts could make it unlawful.
“Even if subjects gave their consent, generated the images themselves or never shared them, there is no safe harbor for good-faith efforts by the provider of general-purpose AI creative tools,” xAI said. It calculated ten violations could cost $5 million and 100,000 violations $50 billion.
Grok Abuse Scale Draws Wider Scrutiny
xAI’s July filing showed 52,222 suspensions and 73,604 reports to the National Center for Missing and Exploited Children, producing at least 244 arrests in 2026.
The Center for Countering Digital Hate estimated Grok created about 3 million sexually explicit images from December 29 to January 8 after Musk endorsed editing features, including about 23,000 appearing to depict children.
California opened an investigation January 14 and issued a cease-and-desist two days later. Thirty-five attorneys general issued a joint demand January 23. Ellison cited a class action by five children and federal suits from two Arkansas families. The European Commission opened an investigation January 27, while Malaysia and Indonesia banned the chatbot.
The post xAI Minnesota Law Fight Escalates Over AI Sexual Images first appeared on Coinfea.

ByteDance and the Motion Picture Association have signed a memorandum of understanding to build copyright guardrails into the company’s Seedance and Seedream AI generators, the first deal of its kind between Hollywood’s main studio lobby and an AI firm, according to the Los Angeles Times.
The truce ends a dispute that broke out approximately six months ago. The controversy dates back to a clip created purely by AI of Tom Cruise trading blows with Brad Pitt, built with Seedance, and then spreading widely all over the internet. On February 20, MPA global general counsel Karyn Temple wrote to ByteDance general counsel John Rogovin, the Los Angeles Times reported, arguing that Seedance 2.0 had been trained on protected material and was turning out unauthorized clips of characters such as SpongeBob SquarePants alongside a recreated scene from “Stranger Things.”
ByteDance ends feud with MPA with copyright deal
Variety reported that the trade group accused ByteDance of “disregarding well-established copyright law that protects the rights of creators and underpins millions of American jobs” on a supposedly “massive scale.” Disney and other studios also objected to tools that could reproduce Marvel and Star Wars figures without permission, The News reported. The MOU then announced on Monday that it has created a structure covering ByteDance’s generative products, reaching users through TikTok, its separate U.S. TikTok app, CapCut, and Dreamina.
The MPA did not release the details of the specific barriers and deterrents in the deal to the public, the Los Angeles Times reported. Both companies have, however, pointed to newer releases as evidence that these safeguards have been initiated, with ByteDance claiming both Seedance 2.5 and Seedream 5.0 Pro, shipped last month, carry stronger IP protections. “Today’s agreement illustrates our belief that copyright is a cornerstone of the film and television industry,” MPA Chairman and CEO Charles Rivkin said in a statement.
He also added that the deal “reflects our shared determination to continue our work together to further fortify those guardrails.” ByteDance general counsel John Rogovin said the company “respects the intellectual property rights that underpin creative industries around the world” and said the MOU was “an important framework for continued collaboration as the technology evolves.” ByteDance is not the first AI company the MPA has pressured into concessions on its AI product.
The association had initially gone after OpenAI’s Sora before the firm added limits, according to Variety, with OpenAI eventually shutting Sora down earlier this year after a similar wave of unauthorized character videos. However, instead of fully retreating and shutting down its products, ByteDance is taking a different path, pouring more funds into Seedance, which is reportedly one of the most advanced video models available, alongside Google’s offerings.
The Los Angeles Times reported that Seedance has gained ground with independent filmmakers who find it cheaper than rival tools, a development that gives ByteDance a commercial reason to keep the studios afloat instead of completely disengaging from the market.
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Unitree Robotics revealed its ‘Superman’ humanoid robot on Monday, with a reported top running speed of 12.66 meters per second and a two-meter standing jump, beating every human on record. The reveal comes only two days before Unitree starts publicly trading in Shanghai, after one of the most oversubscribed tech listings the market has seen.
Superman cleared a two-meter standing high jump on legs measuring 0.85 meters, and hit 12.66 m/s, which is equal to 45.6 km/h in speed. The human marks the robot beat for the respective actions are a 1.8-meter standing jump and a 12.4 m/s sprint. Usain Bolt reached a max speed of 12.42 m/s during his 2009 world-record race, meaning the ‘Superman” robot is faster than the world’s fastest man ever managed, if Unitree’s figures hold.
Unitree Robotics’ Superman robot hits record top speed
The robotics company has, however, not released any independent verification for these figures, with the numbers all coming from a company video and not an independently measured event. Unitree also stated that its engineers built the robot in a little over three months, and that the humanoid robot’s current hardware leaves plenty of room for improvement. The company’s founder, Wang Xingxing, hinted at the possibility back in March at the Yabuli China Entrepreneurs Forum.
He predicted that humanoid machines would break human sprint limits by mid-2026, referring to cheaper parts and better algorithms as the reason for such a possibility. The robotics company had introduced the As2W some weeks before, a wheeled quadruped robot built for cargo. The As2W weighs 25 kilograms, can carry a recorded max load of 180 kilograms, and can move a cargo of up to 16 kilograms continuously.
Unitree priced its coming IPO listing at 150.8 yuan and raised about 6.1 billion yuan, almost $905 million, in a deal that places the company’s valuation at about $9 billion. The IPO was oversubscribed by over 5000 times, and the company raked in 45% more than the 4.2 billion yuan it had initially targeted.
Real revenue also adds to the valuation, as sales hit 1.7 billion yuan last year, more than four times the 2024 figure, with net profit of 591 million yuan. Unitree sold over 5,500 humanoid units across all its G1, H1, and R1 units in 2025, with most of these going to research labs and entertainment buyers instead of factories and manufacturers.
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United States President Donald Trump is set to host crypto companies and prediction market businesses at the White House on Wednesday for a private conversation about regulation, with several major industry names expected in the room. President Donald Trump is expected to speak at the gathering, and CFTC Chair Mike Selig is also scheduled to address those attending.
The companies expected to take part include Coinbase, a16z, Ripple, Chainlink, Kalshi, Paradigm, and the Digital Chamber. Paradigm is one of Kalshi’s investors. Patrick Witt, who leads Trump’s presidential council of advisers on digital assets, is also expected to attend. The White House meeting will take place one day before the CFTC holds its first gathering of its newly created 35-member Innovation Advisory Committee on Thursday. Earlier, the Office of the Comptroller of the Currency, an agency within the Treasury Department, granted conditional preliminary approval to a national trust bank application linked to World Liberty Financial, the crypto business launched with Trump and members of his family.
Donald Trump to host crypto execs at the White House
World Liberty Trust Company applied for the license in January. The company would get permission to issue the USD1 stablecoin on its own and also to keep the dollars backing the token. At present, BitGo is doing this job for World Liberty Trust Company. World Liberty described the OCC approval as a “milestone” in its plans to establish the bank. Zach Witkoff is the president and chairman of World Liberty Trust.
“A national trust bank brings USD1 issuance, custody, and reserve management together under OCC supervision, examined on the same standards that have governed banks for generations. We welcome continuous scrutiny from Federal regulators for many years to come,” he said. World Liberty still has to maintain at least $20 million in capital, bring in a qualified employee to manage internal auditing, and notify the OCC before making any major changes to the business plan it submitted.
Ripple and Circle Internet Group have been granted provisional OCC approvals for a national trust bank charter through Comptroller Jonathan Gould, who was appointed as the Comptroller by Trump just last year. It also raised issues related to the investors of the crypto firm. According to the OCC, foreign investors associated with the parent company would not necessarily be considered as the owners having control over the bank. Some of the foreign investors had agreed to remain passive and would not seek to control the decision-making process of the bank.
Eric Trump, Donald Trump’s son, was among those who signed one of the agreements. He did so while serving as president of an investment entity connected to the Trump family. Zach is the son of Steve Witkoff, Trump’s special diplomatic envoy. The Witkoff family helped launch World Liberty Financial with Trump and his three sons in late 2024, and Zach currently serves as the company’s CEO. Robert Witkoff, Steve’s brother and a former insurance company executive, is expected to serve as a director of World Liberty Trust.
Scott Alper, who is president of the Witkoff family’s real estate business, has also been put forward as a proposed director. Lawmakers from the Democratic Party have stated that there would be a conflict of interest if a bank owned by the family members of the president was approved. During a congressional hearing in February, they pressured Jonathan to provide full and unredacted copies of World Liberty’s application for lawmakers to see in private. The publicly available copy lacked certain details on the capital structure and operations of the company.
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Apple is now alerting people it believes are targets of spyware right on the Lock Screen of their iPhone. This is important for journalists, activists, and officials who are frequently impacted by these attacks. It places a high-stakes alert right where they cannot overlook it. The latest round of notifications on Thursday reached people in 110 countries.
Apple has until now used email and a banner after signing into an Apple Account to alert users to threats. Now, an “Apple Threat Notification” appears on the Lock Screen and inside Settings. This feature works in addition to the older email and account-page alerts. The message informs the user that Apple “detected a mercenary spyware attack targeted at your iPhone. There are actions you can take now to help protect your data and device.” Apple changed the experience so users can reach guidance on what to do next more quickly.
Researcher says new Apple warnings are harder to miss
Researcher Pieter Arntz stated that a warning on the Lock Screen is much harder to miss than one buried in an inbox. He wrote, “The new on-device alert is meant to make a high-risk warning harder to overlook and complements notifications by email and through the user’s Apple Account page.” Apple refers to these notifications as “high-confidence alerts that a user has been individually targeted by a mercenary spyware attack, and should be taken very seriously.”
These are campaigns that cost millions of dollars, burn fast once they are discovered, and are aimed at a tiny group of people. Apple’s support documentation associates the attacks with state actors and the private companies that create surveillance tools for them, with Pegasus from Israel’s NSO Group as one example. The usual targets are journalists, activists, politicians, and diplomats. Apple only uses its internal threat intelligence and won’t say what generates a specific alert, as that would help attackers avoid detection.
The company says it has notified people in 150+ countries since the program began in 2021. Apple’s latest round of threat notifications, which was on Thursday, reached 110 countries. Apple’s advice to anyone who receives a notification is to enable Lockdown Mode, which removes features that attackers could exploit. The company says it hasn’t yet seen a case of a device running Lockdown Mode being successfully hacked.
It also directs recipients to the Digital Security Helpline run by the nonprofit Access Now, which is available 24/7. A genuine warning is valuable bait, so recipients should check if any alert is legitimate by signing in to account.apple.com, where Apple says a real threat notification shows up clearly at the top of the page. Apple says its real notifications never ask anyone to click on a link, install something, or give a password or verification code.
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Bitcoin’s economic energy is central to Michael Saylor’s latest argument about money, scarcity, and long-term value preservation.
The Strategy chairman published an essay on August 15 outlining why he believes Bitcoin conserves economic value better than gold or fiat currencies.
Written with Robert Breedlove and titled “What Is Money?”, the essay describes money as technology for storing labor’s value. It also explains how that value can move across time and distance. Saylor refers to this stored value as “economic energy” and asks how efficiently monetary systems preserve it.
How Saylor Defines Economic Energy
Saylor argues that sound money should preserve the value created through work without suffering significant “monetary entropy.” He uses that term to describe the erosion of value as money moves through time or across distance.
The essay credits gold for scarcity and durability, but highlights several weaknesses. Gold is heavy, expensive to transport, costly to secure, and difficult to audit. Once integrated into financial systems, it also depends heavily on custodians.
Government-issued currencies solve many portability problems associated with gold. However, their supply and operating rules remain controlled by governments and central banks.
Why Saylor Favors Bitcoin
The essay describes Bitcoin as digital monetary energy with no physical mass and no central issuer. Its total supply is capped at 21 million coins, a feature central to Saylor’s argument about scarcity.
Saylor’s position is that Bitcoin loses less economic energy than competing monetary systems. His broader case focuses on how effectively an asset can preserve purchasing power while remaining transferable across long distances.
The essay arrived during a wider debate about whether advanced artificial intelligence could eventually reduce the importance of money. Elon Musk has argued that AI-driven abundance could make money less relevant through what he calls a universal high income.
Saylor Challenges Musk’s Money Outlook
Saylor rejected that view during a Diary of a CEO interview with host Steven Bartlett published earlier this month. He argued that scarcity would continue shaping human behavior even in a more abundant economy.
Saylor told Bartlett that people would keep pursuing scarce goods linked to status because “we’re status-oriented animals.” His argument suggests that abundance in ordinary goods would not remove competition for limited assets.
Strategy currently holds 840,447 BTC, giving it the largest disclosed corporate Bitcoin position. The company has also sold Bitcoin in recent months.
Strategy offloaded 1,690 BTC for about $108.6 million in early August to repurchase STRC preferred shares. Chief Executive Phong Le has said the company expects to resume Bitcoin purchases before year-end.
The essay therefore places Bitcoin within Saylor’s broader monetary framework, centered on scarcity, portability, durability, and resistance to value erosion.
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DeFiLlama founder 0xngmi said he deliberately allowed a fraudulent App Store application to drain cryptocurrency from a funded wallet. The move created evidence that the impersonating application was stealing funds from users.
Apple removed the fake application days after receiving that evidence, according to 0xngmi. The removal followed months of complaints submitted through Apple’s abuse and trademark reporting channels.
The pseudonymous founder shared details of the incident on X on August 15, 2026. He said reports identified trademark violations and impersonation, but the listing remained available.
DeFiLlama Founder Demonstrates Fake App Theft
0xngmi said he downloaded the fraudulent DeFiLlama application and placed a small amount of cryptocurrency inside a wallet. He then allowed the application to access the wallet and drain those funds.
After documenting the theft, he submitted the result to Apple as evidence of fraud. The application was removed from the App Store within days of that report.
“I know it’s insane you have to do this to save users from obviously fake apps,” 0xngmi wrote. He said he shared the experience so other cryptocurrency teams “don’t waste time like us.”
According to 0xngmi, the fraudulent application was a basic DeFiLlama copy designed to request users’ seed phrases. Those recovery words provide control over cryptocurrency wallets and their assets.
Fake Crypto Apps Used Defunct Companies for Verification
0xngmi said the operators also created impersonating applications targeting other cryptocurrency brands. He claimed they passed Apple’s identity checks by registering their applications through defunct companies.
For the DeFiLlama impersonation, the operators allegedly completed verification using a shoe-shine company. The business had been incorporated around 40 years earlier and was no longer operating.
DeFiLlama delayed the launch of its legitimate application for months while fake versions remained available. The team wanted every copy removed before releasing its app to reduce accidental downloads.
DeFiLlama also operates LlamaSearch, a directory of vetted cryptocurrency domains. The service addresses risks when manipulated search results or app listings direct users toward fraudulent websites.
Similar Crypto Impersonation Scams Hit Other Platforms
The incident follows other cryptocurrency impersonation schemes involving advertising and application platforms. On August 14, a Hyperliquid trader lost about $550,000 in USDC after following a Google advertisement.
The advertisement directed the trader to a cloned Hyperliquid exchange. In May 2026, fake Google advertisements targeting Uniswap users resulted in losses exceeding $400,000.
Around 146 ETH from those Uniswap incidents reached two attacker addresses. Cryptopolitan also reported a fraudulent Hyperliquid application appearing on the Google Play Store in November 2025.
The DeFiLlama case highlights the unusual method 0xngmi used after months of unsuccessful complaints. By documenting an actual wallet drain, he provided evidence that prompted Apple’s removal.
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Ethereum issuance has been compared with the finances of a minimal nation-state by Grayscale research head Zach Pandl.
In an X post labeled a “Quasi brainstorm on $ETH issuance,” Pandl described Ethereum as a system funding security through newly created ETH instead of taxation.
Pandl said Ethereum “is akin to a minimal nation-state” with one primary responsibility: protecting property rights and enabling value exchange. He added that “Ethereum does not raise taxes to fund government services,” drawing attention to how network security is financed.
Ethereum Issuance Links Security With Money Creation
Under Pandl’s framework, Ethereum covers its core security costs through money creation. Economists describe the revenue earned by a currency issuer from creating money as seigniorage.
Stakers provide the service of protecting Ethereum’s property rights and receive newly issued ETH as compensation. This structure effectively connects fiscal and monetary policy because securing the network also expands the supply of ETH.
The arrangement differs from Bitcoin’s fixed supply model. Bitcoin has a capped maximum supply, while ETH issuance can change depending on network conditions and the amount of ETH being staked.
That variable issuance makes Ether’s scarcity less straightforward for people evaluating the asset as a store of value. Pandl’s comparison therefore focuses attention on issuance as both a security mechanism and a source of network funding.
Ethereum Funding Debate Focuses on Validator Rewards
The thought experiment arrives during an ongoing debate about how Ethereum should finance core development. Validators collectively receive roughly 700,000 ETH annually in staking rewards, while the ecosystem reportedly faces limited cash for paying core developers.
Former Ethereum Foundation coordinator Trent Van Epps said in June that maintaining the network’s client teams costs about $30 million each year. He warned about risks from lacking a clear funding source while the Ethereum Foundation reduces spending.
One proposed approach would redirect part of the rewards currently paid to validators toward development costs. Supporters see validator rewards as a potential source for addressing the funding shortfall.
Critics argue that creating another distribution mechanism would be unnecessary if validators are prepared to accept lower yields. Under that approach, Ethereum could simply reduce issuance rather than redirecting newly created ETH through another layer.
Ethereum Issuance Becomes Central to Treasury Questions
Pandl’s nation-state analogy does not propose a direct solution to Ethereum’s developer funding problem. Instead, it frames ETH issuance as the network’s effective treasury and links security spending directly with monetary expansion.
The comparison underscores why debates over validator compensation, developer funding, and ETH supply are closely connected. Within Pandl’s framework, arguments about funding ultimately become arguments over how large Ethereum’s issuance-based treasury should be over the longer term.
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Robinhood Chain is gaining attention as Robinhood Crypto SVP Johann Kerbrat emphasizes infrastructure over launching a native network token.
Kerbrat said the company’s tokenization effort is “just the beginning,” while development remains centered on technical foundations and stock tokens.
The network offers 24-hour on-chain versions of equities including Nvidia and Apple. These products provide economic exposure without granting holders a legal claim to the underlying shares. They are available across more than 120 countries but remain unavailable to U.S. persons.
Robinhood Chain Builds Without a Native Token
Robinhood Chain launched without a native token, separating its approach from many competing blockchain networks. The permissionless, EVM-compatible layer-2 uses Arbitrum technology, settles transactions on Ethereum, and requires Ether for gas fees.
Stock Tokens remain the network’s main strategic product, although trading activity currently tells a different story. OAK Research found that memecoins account for more than 99% of Robinhood Chain’s trading volume.
CASHCAT, a cat-themed token referencing Robinhood’s former mascot, rose more than 5,500% within one week. Its market capitalization approached roughly $200 million during that surge.
A July CoinDesk review found memecoin and stablecoin activity significantly exceeded tokenized real-world asset activity. Those real-world assets totaled $12.81 million, including approximately $10.68 million represented by stocks.
Robinhood CEO Vlad Tenev had told CNBC six days earlier that assets without utility “do not serve a lasting purpose.” He later posted that Robinhood Chain “works great for memes too” and followed CASHCAT’s account.
Network Activity Rises During Gas Subsidy
DefiLlama lists Robinhood Chain with about $536 million in total value locked. Its stablecoin market capitalization stands near $634 million, while 24-hour decentralized exchange volume is around $440 million.
Robinhood Chain’s TVL has climbed steadily since launch. Source: DefiLlama
Ethena’s USDe increased from roughly $17 million one month earlier to about $253 million. That amount represents nearly 43% of the network’s stablecoin supply.
Growthepie data showed Robinhood Chain processing more than seven million daily transactions on July 13. That activity allowed the network to move ahead of Coinbase’s Base by that measure.
Robinhood is currently covering gas costs for eligible wallet users completing swaps, bridges, and perpetual trades. The 90-day subsidy is scheduled to end in late September.
Crypto Revenue Falls as Prediction Markets Grow
Robinhood reported $100 million in second-quarter crypto transaction revenue, representing a 38% year-over-year decline. Prediction markets generated $156 million and surpassed crypto revenue for the first time.
Despite weaker crypto transaction revenue, Robinhood’s total net revenue increased 32% to $1.31 billion. The company continues expanding tokenized stock access while its blockchain records heavier activity from memecoins and stablecoins. The contrast highlights how network usage differs from the equity-focused purpose behind Robinhood Chain’s initial design.
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Lido DAO has released a detailed overview of NEST, the automated program it is building to buy back its own LDO governance token. The program is a direct response to LDO’s token, which has lost more than 95% of its value since 2021.
The Network Economic Support Tokenomics (NEST) program is Lido DAO’s long-term solution to the growing distance between what the protocol earns and what its token is worth, which it has been warning about for months. Cryptopolitan reported that NEST is meant to run as an automated mechanism. It’s completely separate from the one-off proposal the DAO put forward in March to spend treasury funds directly on LDO. An annual revenue benchmark of $40 million (about $109,000 per day) has already been set by the company. If the protocol earns more than this baseline in a day, 50% of that extra income is sent to the NEST program to buy LDO.
Lido DAO targets $50,000 LDO per day cap
The platform mentioned that the program can only buy $50,000 worth of LDO per day, with a total annual cap of $10 million. Cryptopolitan reported that the previous system proposed by Lido’s Growth Committee would use up to 10,000 stETH from the DAO treasury, worth roughly $20 million at ether prices near $2,000, to accumulate LDO. The LDO-to-ETH price ratio was about 0.00016, representing a 70% decline from where it traded for most of the previous two years.
During that same period, the protocol’s net rewards had only dropped about 20%. The DAO also said its costs went down by 13% compared to the year before, and its fee rate increased to 6.11% from 5%. Lido holds the largest share of staked ether at around 23%. DefiLlama data also lists Lido’s total value locked near $17.8 billion against a market capitalization of roughly $252 million. Its annualized fees are around $693 million, and the annualized revenue is near $38 million.
There is barely enough on-chain liquidity to execute the plan. Only about $90,000 worth of LDO is available to buy within 2% of the current price. This means a single batch purchase of 1,000 stETH (worth roughly $2 million) would use up all available liquidity several times over, causing the price to spike sharply. To get around that, the proposal authorized buying LDO through centralized venues including Binance, OKX, Bybit, Gate, and Bitget, each offering more than $100,000 in depth, alongside on-chain routes such as CoW Swap, 1inch, and Uniswap.
The purchases are made in 1,000 stETH batches, each requiring its own governance step (an “Easy Track” motion) with a three-day objection window and a slippage cap of 3% below the reference price. The market reacted positively to the buyback scheme, with reports indicating that LDO rallied by roughly 30% in a month where it resisted a broader downturn in the DeFi market.
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Nvidia has announced a very large investment in SpaceX. According to the latest filing, the chipmaker now owns 122.8 million Class A shares in Elon Musk’s company. Based on the current value of those shares, the position is worth around $21 billion, per new filing with the US Securities and Exchange Commission.
Nvidia has only one disclosed bigger investment, and that is its holding in Intel. There was not much drama in after-hours trading on Friday after the disclosure came out. SpaceX stock gained 0.35%, while Nvidia shares fell 0.12%. Their broader performances have been very different, though. Nvidia is up almost 20% so far in 2026, while SpaceX has lost close to 7% since it entered the public market in June. Retail traders are also looking at the two names differently. Stocktwits showed neutral sentiment around NVDA, with posting volume staying normal. For SPCX, sentiment was extremely bullish, while the amount of discussion also remained at normal levels.
Nvidia makes SpaceX investment amid deal between duo
Nvidia’s investment in SpaceX is happening alongside a much deeper business relationship between the two companies. During SpaceX’s first earnings call since becoming a public company, Elon Musk said SpaceX had chosen Nvidia as the only chip supplier it plans to use for the computing hardware inside its data centers. “We’ve decided to build exclusively on Nvidia because we think [its] Vera Rubin architecture is the best architecture,” Elon said.
He also said the company feels it is the best AI computer and it greatly values the close co-operation and partnership on many levels with Nvidia. Elon has informed investors that SpaceX is expecting to have a “significant allocation” of Nvidia’s Vera Rubin GPUs next year. This means that SpaceX is planning to utilize the next iteration of Nvidia’s AI chip as SpaceX increases computing power available through its data center network. Nvidia has also been planning a significant financing move aside from the deal with SpaceX.
The chipmaker revealed that it had planned out a $500 billion financing package with some of the largest banks on Wall Street, among which was Goldman Sachs (NYSE: GS). CNBC host Jim Cramer commented that it was “a monumentally positive change.” Intel is ahead of SpaceX in terms of Nvidia investments that are publicly known. Jim is still quite confident about the management team at Intel and the path that the firm is following. He thinks that the funds raised by Intel can be used for expanding its third-party manufacturing business where the company manufactures chips for other customers apart from Intel.
Elon Musk keeps tight control over SpaceX as stake reaches $907 billion
Jim also said he has a lot of confidence in Intel CEO Lip-Bu Tan, saying Lip-Bu “knows how to build things.” He argued that Intel would likely not go ahead with the share sale “unless they have something in hand,” and said one possibility could be a new customer for Intel’s manufacturing operation. “I still think this is my favorite stock in the portfolio,” Jim added. A separate regulatory filing released Thursday also provided a much clearer breakdown of Elon’s ownership in SpaceX.
As of June 30, Elon owned an economic stake of 48.4% in the company and had sole voting and investment control over 6.42 billion shares, with the value of that overall position at around $906.9 billion. Elon later responded to the ownership figure on X, saying the number can give the impression that more of the stake is fully his than is actually the case. He explained that part of the shares included in the total still depend on SpaceX hitting extremely difficult performance requirements before they completely vest. “A bunch of it only vests on extremely crazy good outcomes for SpaceX, so actual full vested percentage is lower,” Elon said.
The filing breaks the holdings down into several different parts. Trusts where Elon acts as trustee control about 849.5 million Class A shares. Those trusts also hold roughly 3.92 billion Class B shares. Elon directly owns another 1.30 billion restricted Class B shares, while options cover an additional 350 million Class B shares. So while Elon owns less than half of SpaceX from an economic standpoint, his voting control is much higher than his ownership percentage. He controls more than 82% of the company’s voting power, giving him a much larger say over shareholder decisions than the 48.4% economic stake alone would suggest.
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Apple opened a training center in its new Houston factory on Wednesday. According to reports, the site will begin assembling Mac mini computers by the end of 2026. The factory has been shipping AI servers for months, with Apple making its production methods available free of charge to small manufacturers.
It took Apple less than nine months to go from picking the Houston site to running a working plant. “In less than nine months, we have invested hundreds of millions of dollars into this Houston facility. “We stood up a factory, started production, and shipped the first advanced AI servers off the line,” said Apple’s chief executive, Tim Cook. During Apple’s August 13 announcement, he said the production of the Mac mini will begin “later this year.”
Apple set to build first US-made Mac mini at the new site
The new site is called the Advanced Manufacturing Center. It occupies 20,000 square feet of the Houston plant. It provides free sessions to small and medium-sized businesses on the techniques Apple uses in its own lines, from machine-learning quality checks to sophisticated automation. Apple designed the curriculum to emphasize hands-on work.
On opening day, the first group of business leaders assembled and laser-etched a product themselves, working with a holographic table and factory-floor equipment. Sessions will cover printed circuit board design and final-assembly principles. Apple says it will open the center to local college students in the future. It is the company’s second such facility, following the Apple Manufacturing Academy that debuted in Detroit in August 2025 and has since trained close to 1,000 workers and entrepreneurs.
As Cryptopolitan reported at the time, Apple announced last September that it would spend $600 billion on US manufacturing over four years, which includes about 79 factories. That pledge also included a $2.5 billion expansion of Apple’s glass partnership with Corning in Kentucky and chip work with Taiwan Semiconductor, Texas Instruments, and Applied Materials. Commerce Secretary Howard Lutnick, Houston Mayor John Whitmire, Senator Ted Cruz, and other officials attended the Houston opening.
“This opening is an important step in Apple delivering on its promise to bring its manufacturing back to America,” Lutnick said. The company previously said firms that manufacture within the US are exempt from a 100% tariff on imported semiconductors. Apple has promised to start Mac mini production in Houston in 2026 but has not disclosed a shipping date, unit target, or price for a US-assembled model.
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Tesla stock jumped by 3% on Friday morning, a reaction to a report that the auto manufacturer plans to unveil its long-awaited Roadster, with flying capabilities, in August. Tesla shares have been on a downward trend throughout 2026, so this news lands as a welcome development for investors.
It is left to Tesla to keep its promise and deliver the Roadster. As of this Cryptopolitan report, Tesla (NASDAQ: TSLA) traded at $350.34. It increased by 3% from Thursday’s close of $339.96. Now its shares are trading between $342.01 and $351.10; however, it is still way below its high of $498.83 and is closer to its low of $297.38 in 2026 for the year. Tesla currently has a market capitalization of $1.10 trillion.
Roadster rumor fuel Tesla stock surge
All of this began with a report by Grace Kay from The Information. In the report, she claims that Tesla is about to launch a redesigned next-gen Roadster. One of the big takeaways from the report was that the new reveal could be unveiled before August ends, and the redesign would include flying capabilities, which will be tested at Tesla’s site in McGregor, Texas.
Musk has previously teased the release of a flying car. Days before the report broke, Musk tweeted, “flying cars are coming.” Also, Tesla, for a couple of years, has teased a SpaceX cold gas thruster package that will let the car hover or briefly leave the ground. An old video clip of Musk teasing the Roadster went viral on X. The upcoming launch was tagged “unforgettable” by the poster. Musk simply replied, “Yes.”
Skeptics would be well within their rights not to be excited. And this is not without reason. The Roadster is still in the design development phase, and Tesla has floated a lot of release dates in the past years, without meeting any. In July 2025, Lars Moravy, VP of vehicle engineering at Tesla, stated the Roadster was “definitely in development,” but no car has come out to date. Tesla’s dwindling stock price cannot be ignored either. It has dropped by 26% as competition with BYD and Xiaomi stiffens.
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A South Korean court has sentenced Delio’s chief executive Jeong Sang-ho to 15 years in prison for virtual-asset deposit fraud. The sentencing comes roughly three years and two months after Delio abruptly froze customer withdrawals in June 2023.
The 11th Criminal Division of the Seoul Southern District Court, with Presiding Judge Jang Chan on the bench, has sentenced Delio’s chief executive, Jeong Sang-ho, to 15 years in prison, even though prosecutors originally sought 20 years. Delio accepted Bitcoin and Ethereum deposits and paid interest, advertising guaranteed annual returns of around 10% and branding itself as a “crypto bank.” The court found that the marketing was dishonest about the product’s safety.
South Korean court slams Jeong with a 15-year term
Delio assured its depositors that it earned money through arbitrage and coin-collateralized lending while hiding early business deficits and operating losses. The South Korean court also found Jeong submitted falsified loan records worth 2 billion won to siphon roughly 1 billion won from an investment fund, and that he inflated the firm’s coin holdings by 47.6 billion won in an audit report used to complete its virtual-asset business registration.
Jeong was convicted under the Act on Aggravated Punishment of Specific Economic Crimes, among other charges. He was accused of defrauding around 2,800 South Korean customers of roughly 250 billion won ($175 million) when he was indicted by prosecutors without detention in April 2024. However, the court only convicted him of taking about 70 billion won from 1,078 victims. That gap is due to an evidence dispute between Jeong’s side and the prosecutors.
Jeong’s lawyers argued at last month’s final hearing that the prosecution’s search and seizure had been unlawful, and the court agreed the investigators’ search was flawed, noting that investigators handed Delio no seizure list even though the company owned the server database in question. It ruled the seized electronic data and any evidence derived from it inadmissible. Despite the reduced amount, Jeong’s crime was described as severe.
Many South Korean residents had reportedly petitioned for a heavy sentence and faulted him for consistently trying to push blame onto other companies. Cryptopolitan recently reported that South Korean lawmakers cleared a rule change that gets rid of the 1 million won reporting threshold for crypto transfers and adds financial-health tests for exchange operators. Registration provisions take effect August 20, while the expanded Travel Rule follows in February 2027.
From August 20, controlling shareholders of virtual-asset service providers (VASP) will face a new vetting system based on legal history, finances and social standing. Operators will be required to keep enough anti-money-laundering staff and give 30 days’ notice before ownership changes. New entrants must hold a debt-to-equity ratio at or below 200%. The Financial Supervisory Service (FSS) also said it plans an on-site visit to Bithumb after altcoin withdrawals at the exchange were delayed for more than 13 hours.
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Monaco is making an attempt to scrap the Principality’s 2022 crypto law and rebuild its rules for crypto-asset service providers around the European Union’s Markets in Crypto-Assets Regulation (MiCA). The government filed Bill No. 1131 in early August, and if approved, it would change the licensing requirements for firms that offer crypto services, while the regulators will receive wider powers.
Monaco has filed Bill No. 1131, which would repeal the 2022 law that split crypto and digital-asset work into issuance and operational services cleared by the State Minister, and crypto-linked investment services authorized by the Commission de Contrôle des Activités Financières (CCAF). Under the 2022 law, providers were forced to register a company inside Monaco, and foreign firms were banned from cold-marketing to residents.
Monaco wants to join EU’s MiCA regime
The proposed change would require any firm wanting to offer crypto-asset services to gain clearance from the CCAF, but before that, the firm would have been reviewed by the Autorité Monégasque de Sécurité Financière and the Agence Monégasque de Sécurité Numérique. The bill lists exactly which crypto services are allowed in Monaco and sets clear rules for how companies must run their operations, manage risks, and behave professionally.
It also gives the CCAF more power to oversee and penalize firms, which the government says will help stop money laundering and other financial crimes. Blockchain intelligence firm TRM Labs found that firms that have not been authorized by MiCA are far more likely to carry a high or severe risk rating. Monaco has sat on the Financial Action Task Force (FATF) grey list since the summer of 2024, and was added to the European Commission’s list of high-risk money-laundering jurisdictions more than a year ago.
The country’s alignment with MiCA is in the hope that it gets taken off these lists, as designations like this can result in slow international transactions, raised compliance costs and even increased borrowing costs for local businesses. However, only 281 of 1,343 crypto service providers operating across the European Economic Area have secured MiCA authorization.
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