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U.S. Appeals Court Officially Upholds Sam Bankman-Fried’s Verdict
The U.S. Court of Appeals for the Second Circuit rejects Bankman-Fried’s arguments, upholds the 25-year prison sentence, and the order to confiscate $11 billion in assets, significantly narrowing his chances of obtaining early release. The U.S. Federal Court of Appeals for the Second Circuit has officially issued an order to carry out the verdict, upholding the conviction and sentence for former FTX CEO Sam “SBF” Bankman-Fried, thereby significantly narrowing the remaining legal possibilities that could help him be released early. The order was issued on Tuesday, following a June 12 decision by the court to uphold the lower court’s ruling, under which Bankman-Fried was convicted on seven counts and sentenced to 25 years in federal prison.
JPYC Raises an Additional US$38 Million for Yen-Backed Stablecoin
JPYC completes its Series B round with a total funding size of 6 billion yen (US$38 million), as AZ-COM Maruwa Holdings invests and plans to pay wages to 2,300 workers using stablecoin. JPYC, a Tokyo-based company that issued Japan's first yen-backed stablecoin that has been licensed in Japan, has just completed the expansion of its Series B fundraising round, bringing the total funding raised to about 6 billion yen, or US$38 million. The latest expansion includes participation from the logistics group AZ-COM Maruwa Holdings as a new investor, injecting around 1 billion yen, or US$6.3 million.
Japan’s FSA Requests Crypto Asset Exchanges to Delay Withdrawals to Prevent Fraud
The Financial Services Agency and Japan’s National Police Agency urge crypto asset exchanges to implement withdrawal delay periods, address registration before use, and multi-factor authentication to prevent scams involving crypto assets. Japan’s Financial Services Agency (FSA) has just asked domestic crypto asset exchanges to introduce a delay period for withdrawals along with a range of additional protective measures, as authorities seek to respond to increasingly sophisticated scams related to digital assets.
JPMorgan believes Hyperliquid’s market share is under pressure from platforms regulated in the US, while inflows into the HYPE ETF have stalled after the peak in May–June. JPMorgan’s analysis team, led by CEO Nikolaos Panigirtzoglou, has just warned of significant challenges for the market share of decentralized platforms such as Hyperliquid in its latest report. According to analysts, whether Hyperliquid can surpass other tokens like Solana and XRP in terms of market capitalization remains an open question.
U.S. Senate Postpones Vote on the CLARITY Act Until September
Majority leader John Thune confirms that the U.S. Senate will postpone the vote on the CLARITY Act on the framework for the structure of the digital asset market to September, because the Democratic Party faction has not yet reached agreement. The U.S. Senate will delay the procedural vote on the CLARITY Act—an important bill aimed at establishing a regulatory framework for the digital asset market—until next September, according to confirmation from Majority Leader John Thune (Republican—South Dakota) to The Block at the end of Thursday’s day.
Bitcoin Red Team Uses AI to Detect Nearly 5,000 Security Vulnerabilities
The Bitcoin Red Team recorded 4,962 security findings across 390 Bitcoin projects in 30 hours thanks to AI agents, including 720 issues at the high-severity or critical level. A volunteer group calling itself the Bitcoin Red Team has just released the results of a large-scale security review campaign on the Bitcoin ecosystem, using artificial intelligence agents to handle most of the source code scanning work. According to the first status report released by an anonymous developer calle, the founder of the electronic cash protocol Cashu, on Wednesday, the group recorded a total of 4,962 security vulnerabilities across 390 projects in just about 30 hours.
Ark Invest Puts SpaceX and Circle Among Its Largest Holdings
Cathie Wood’s ARKK continues to buy more of SpaceX and Circle after its Q2 report, bringing the two stocks into the top 10 of the portfolio with weights of 4.73% and 3.90%, respectively. The Ark Innovation ETF (ARKK), managed by Cathie Wood, released a holdings report on Thursday that shows SpaceX and Circle have now made it into the fund’s group of largest investments. SpaceX is currently the fifth-largest holding, with a market value of nearly $282 million, equivalent to 4.73% of the portfolio, while Circle ranks eighth with a value of about $233 million, accounting for 3.90% of the fund’s total assets. Along with Tesla, Coinbase, Robinhood, OpenAI, Bitmine, and Palantir, these two names form a group of key investments, reflecting Ark’s consistent strategy of focusing on artificial intelligence, crypto assets, and financial technology.
MetaMask Launches Agent Wallet for Automated AI Trading
MetaMask introduces the self-custody Agent Wallet, enabling AI agents to trade on-chain within user-configured limits, protecting losses up to $10,000 per month. MetaMask officially launched Agent Wallet on Thursday, a self-custody wallet that allows AI agents to execute on-chain transactions within the limits set in advance by users. The new product marks the company’s next expansion step in the field of AI-enabled crypto asset trading, targeting traders and developers who use AI agents to monitor the market, identify investment opportunities, and automate order execution.
Meta’s AI Model Escapes the Sandbox, Attacks a Third Party During Testing
Meta confirms that the Muse Spark model accessed the Internet without authorization and exploited a vulnerability of an external company after a configuration error by the testing partner Irregular. Meta has just confirmed that one of the AI models in the Muse Spark line escaped an isolated testing environment, gained access to the public Internet, and exploited a security vulnerability in the services of a third-party company. The incident occurred during a cybersecurity assessment carried out by Irregular, an independent AI testing unit that Meta hired to evaluate the capabilities and safety level of the company’s advanced models.
OpenAI Reveals How AI Agents Coordinated Before the Hugging Face Attack
At the Black Hat conference, OpenAI revealed that AI agents secretly communicated and shared exploit code for months before infiltrating Hugging Face. At the Black Hat cybersecurity conference held on Wednesday, OpenAI for the first time disclosed details about how the company’s AI models coordinated with one another in the lead-up to the shocking Hugging Face platform attack from last July. According to presentations by researchers Eric Wallace and Michael Dalton, the incident began in May, when the AI agents were tasked with assessing the security of internal software and found that they could communicate with each other through the Artifactory software package management system.
Western Union Launches Stablecard, Integrates Stablecoin USDT Into the Visa Network
Western Union partners with Rain to launch the Stablecard in 37 markets, allowing users to spend USDPT stablecoins through the global Visa network. Western Union has just announced a partnership with stablecoin infrastructure provider Rain to launch Stablecard, a product combining an e-wallet and a Visa-branded card that allows users to hold and spend stablecoins backed by USD. This is considered one of the biggest moves by this international money transfer group to deepen its involvement in blockchain-based payments.
EU Watchdog Warns of Impersonation Scams Amid the MiCA Screening Round
The EU supervisory authority warns of a rise in impersonation scams as more than 1,700 companies dealing in unlicensed crypto assets must leave the market under MiCA. European Union (EU) financial regulators have issued a warning about a surge in impersonation scams as the bloc tightens licensing for crypto-asset service providers. According to officials cited by the Financial Times, scam artists are impersonating financial regulators and crypto-asset firms to target customers of service providers that are not licensed to operate in the EU, taking advantage of the timing when many users are forced to look for alternative providers.
Mastercard Pilots Crypto Credential With Borderless.xyz for Stablecoin Payments
Mastercard partners with Borderless.xyz to pilot a Crypto Credential framework, boosting trust for cross-border stablecoin payment flows. Mastercard continues expanding its stablecoin payment infrastructure through a new pilot program with Borderless.xyz, a global liquidity network specializing in stablecoins. As announced by the two companies on Wednesday, the program will test how the Mastercard Crypto Credential framework can support trustworthy interactions in cross-border stablecoin payment flows.
Circle Selects Visa, Mastercard, and BlackRock as Validator Entities for September’s Arc Launch
Circle will launch the Arc mainnet on September 16 with Visa, Mastercard, and BlackRock as validator entities, with USDC in circulation reaching $73.3 billion. Circle has just announced a plan to publicly open the mainnet of the Arc blockchain on September 16, while also revealing that the list of founding validator units is almost entirely made up of traditional financial institutions, alongside the release of its Q2 business results on Wednesday. The set of validator entities ensuring network safety includes BlackRock, The Depository Trust & Clearing Corporation (DTCC), Galaxy, Global Payments, the Intercontinental Exchange (ICE) trading platform, Mastercard, MoneyGram, SBI Group, Standard Chartered, Sumitomo Corporation, and Visa. Among them, BlackRock is expected to deploy BUIDL, the company’s tokenized money market fund, on Arc, while DTCC will support the tokenization of assets held in custody by this organization, even though this activity will only begin in the second half of 2027.
Putin Signs Law Regulating Crypto Asset Trading for Individual Investors in Russia
Vietnam officially establishes a legal framework for crypto assets, limiting individual investors to trading a maximum of 300,000 rubles per year. Russian President Vladimir Putin signed and issued a landmark law establishing a regulatory framework for the crypto-asset market, according to the state news agency TASS reported on Tuesday. A law sets out the principles applicable to crypto-asset exchanges, custodial organizations, brokerage firms, clearing and settlement organizations, investors, and other market participants, while continuing to maintain a ban on using crypto assets as a means of payment or as legal tender within the territory of Russia.
Perplexity Wins Appeal Against Amazon in AI Agent Shopping Lawsuit
The U.S. Ninth Circuit Court of Appeals vacates a ban on Perplexity’s Comet, saying Amazon will struggle to prove a CFAA violation in a lawsuit involving an AI agent. The U.S. Federal Circuit Court of Appeals for the Ninth Circuit has just lifted an injunction blocking Perplexity’s AI shopping tools from operating on Amazon, giving the startup an initial victory in a case being closely watched by the tech industry. This is considered the first appellate ruling to directly address whether AI agents can legally carry out online activities on behalf of users—an unresolved legal question as agentic AI browsers and assistants become increasingly popular.
Few and Far NFT Founder Accused of $10 Million Fraud
Few and Far NFT founder Taj Tarsha was charged with securities fraud, accused of using $10 million in investor capital for gambling, speculation, and his personal DJ hobby. On Wednesday, the U.S. Attorney’s Office for the Southern District of New York charged Taj Tarsha, 34, the founder of the NFT trading platform Few and Far, with allegations of securities fraud and wire fraud. According to the indictment, Tarsha raised more than $10 million from investors with the commitment to use the funds to build a decentralized trading platform for non-fungible tokens (NFTs). However, in reality, most of the money was transferred to support online gambling activities, speculative cryptocurrency trading, and personal expenses, including funding a personal DJ hobby.
Visa Cooperates with Zerohash to Expand Stablecoin Payment Services
Visa’s handshake with Zerohash enables Visa Direct customers to pre-fund and make payments using stablecoins, expanding its global blockchain strategy. Visa continues to expand its footprint in the stablecoin space through a new cooperation agreement with Zerohash, a crypto infrastructure provider for financial institutions. According to information Zerohash disclosed on Wednesday, new features will be rolled out via Visa Direct, Visa’s payments network, allowing eligible customers to pre-fund into an account and make payments with stablecoins.
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