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Category: Business

  • Mirae plans to turn crypto exchange Korbit into something Korea hasn’t seen before

    Mirae plans to turn crypto exchange Korbit into something Korea hasn’t seen before

    Korbit currently holds less than 1% of South Korea’s domestic crypto market, far behind giants Upbit and Bithumb. When asked directly about its strategy to compete, Mirae Asset stressed that the goal is not to overtake any other company or exchange, but to promote sustainable growth of the digital assets industry in South Korea.

    “We intend to combine Mirae Asset’s extensive global investment expertise with Korbit’s digital asset capabilities to promote the sound and sustainable growth of the digital asset industry in Korea and globally.”

    In other words, Mirae Asset isn’t trying to outdo Upbit or Bithumb, but to offer a one-stop shop that brings together institutional investment capabilities, research, education, and digital asset infrastructure under one roof.

    The group also told CoinDesk it would strictly comply with AML, KYC, and fraud-detection standards across all areas, a signal that Digital X is being positioned for institutional clients as much as for retail traders.

    Mirae Asset’s affiliate Mirae Asset Consulting recently increased its stake in Korbit to 97.15%, completing the acquisition after receiving regulatory approval from South Korea’s Fair Trade Commission.

    “The acquisition was carried out through lawful procedures following a thorough review of the relevant laws and regulatory framework. Mirae Asset Consulting was selected as the acquiring entity after comprehensive consideration of each affiliate’s business purpose and role, as well as its potential synergies with the digital asset business,” the firm said.

  • Bitcoin Exchange Binance Announces Adding Three Altcoins to its Risky Asset List! Here Are Those Altcoins

    Bitcoin Exchange Binance Announces Adding Three Altcoins to its Risky Asset List! Here Are Those Altcoins

    Binance, one of the world’s largest cryptocurrency exchanges, has decided to expand its risk warning system for some digital assets listed on its platform. According to the exchange’s statement, as of July 24, 2026, Across Protocol (ACX), Lisk (LSK), and Stacks (STX) tokens will also be included in the Monitoring Tag system.

    Binance stated that the Monitoring Tag application is used to show investors tokens that are deemed to have higher volatility and risk compared to other listed assets. Projects with this tag are regularly reviewed and may face complete delisting from the platform if they fail to meet the exchange’s listing criteria.

    The exchange emphasized that adding the tag does not mean the tokens in question will be directly delisted, and stated that the performance of the projects will continue to be closely monitored. The Monitoring Tag may be removed as a result of periodic evaluations, and different tokens may be included in this scope if deemed necessary.

    Binance also shared the criteria it considered during the review process. These include the project team’s commitment to development activities, the level and quality of software development work, trading volume and liquidity, network security and resilience to attacks, the stability of smart contracts, and the level of communication with the public.

    The project teams’ responses to Binance’s periodic audit requests, significant changes in token supply, updates to the token economy, any activity suspected of being unethical or fraudulent, and the project’s contributions to the crypto ecosystem are also considered in the evaluation process.

    Users who wish to trade tokens covered by the Monitoring Tag are required to complete a risk awareness test and approve the relevant risk disclosures at regular intervals. Binance states that this practice aims to help investors make more informed decisions about high-risk assets.

    *This is not investment advice.

  • Ripple’s RLUSD gets two boosts as transfer volume drops 25%

    Ripple’s RLUSD gets two boosts as transfer volume drops 25%

    Fintech firm Ripple made two moves on Thursday aimed at growing its dollar-backed stablecoin, $RLUSD, in a month when transfer volume across the token has dropped by 25%.

    The first is Ripple Mint, a platform that lets institutional customers create, redeem, bridge and track $RLUSD through a web dashboard or direct integration.

    Until now, minting $RLUSD — the process of issuing new tokens when a customer deposits dollars — generally meant arranging it directly with Ripple and waiting on a manual issuance process. The APIs let a firm trigger minting and redemption automatically from its own systems and track each transaction from dollar transfer to onchain settlement.

    Ripple has also been extending $RLUSD beyond the $XRP Ledger and Ethereum onto the XRPL EVM sidechain, Base, Optimism, Ink and Unichain, widening the number of networks where the token can circulate.

    Separately, Ripple announced late Thursday a strategic investment in Notabene. This compliance network places $RLUSD inside its business-payments platform, putting the token in front of institutions positioned to send and receive it.

    So, while Mint is designed to make $RLUSD simple to create and manage, Notabene is built to get it moving through institutional payment rails.

  • Black Forest Labs Unveils FLUX 3 AI: Ditches Stills for Video—And Robot Hands

    Black Forest Labs Unveils FLUX 3 AI: Ditches Stills for Video—And Robot Hands

    In brief

    • Black Forest Labs has launched FLUX 3 in early access, its first model that generates video, producing clips up to 20 seconds long with synced audio.
    • The same backbone powers FLUX-mimic, a robotics model built with mimic robotics that Audi is already testing on its production line.
    • Only the open-weight “Dev” version is planned for later in 2026; Video and Action stay behind APIs and partner access for now, with Image following in the coming weeks.

    Black Forest Labs released FLUX 3 on Thursday, and for the first time, the company’s flagship model generates video instead of just still images. The German AI lab, known for the FLUX line of image generators, trained the new system on images, video, and audio at once, inside one shared system.

    That’s what is known as multimodality: one model learning several types of information together instead of separate tools bolted side by side.

    The video side is the headline feature. FLUX 3 produces clips up to 20 seconds long, with audio generated alongside the picture and synced to what’s happening on screen—dialogue, sound effects, ambient noise. In early evaluations, human reviewers preferred FLUX 3’s output over Runway Gen-4.5 in 77% of head-to-head comparisons and over Luma Ray 3.2 in 93%. It seems to be slightly better than Gemini Omni and Seedance, beating those models in 52% of the evaluations.

    Of course, that’s a preference test, not a fixed scoring rubric: evaluators simply watch two clips and pick the one that looks and sounds more convincing, and BFL counts how often FLUX 3 wins.

    Other than that, the model seems to be very competent on still images too, following its legacy. BFL shared a few images, and FLUX 3 seems to be very versatile and capable of generating a broad variety of styles beyond photorealism.

    BFL frames this as more than a content tool. “A model that only learns images can only generate images,” said co-founder and CEO Robin Rombach. The company’s bet is that learning to predict video also means learning the physics underneath it—weight, contact, timing—which is exactly what a machine needs to move through the physical world.

    That bet has a name: FLUX-mimic. Built with Zurich-based mimic robotics, it takes FLUX 3’s video-prediction engine and adds a lightweight “decoder”—a small add-on component that translates the model’s internal sense of how things move into actual robot motions. Car maker Audi is already testing it on tasks like fitting flexible door seals, work that conventional automation has struggled to handle.

    “Audi represents the kind of manufacturing partner we built FLUX-mimic for,” said mimic co-founder Stephan-Daniel Gravert. Audi’s Christoph Schneider said the robots now “solve complex soft-body manipulation work” that older machines couldn’t touch. BFL says the full system reacts in about 101 milliseconds, in the neighborhood of human visual reflexes.

    FLUX’s rise didn’t happen in a vacuum. Founded in August 2024 by veteran researchers who’d helped build the original Stable Diffusion models at Stability AI, Black Forest Labs launched Flux models that beat MidJourney and outclassed Stability’s own underwhelming Stable Diffusion 3.

    The open-source Flux Dev and Schnell models grabbed the “best open source image generator” title that AI artists had expected Stable Diffusion 3.5, Stability’s do-over, to eventually reclaim.

    It never did. FLUX 1.1 Pro went on to top the Artificial Analysis image arena that October. That one wasn’t open source, though.

    BFL released FLUX.2 in November 2025 but it wasn’t as popular. The open-source crown held by the original Flux lasted until Alibaba’s Z-Image Turbo dethroned it in late 2025, matching its quality on lower end consumer graphics cards. “This is what SD3 was supposed to be,” one CivitAI user wrote at the time.

    FLUX 3 is BFL’s comeback, and it isn’t fully open yet. Video and Action are in early access now through APIs and select partners, mimic robotics among them, with image generation following “in the coming weeks,” per BFL. The open-weight Dev version, the only tier BFL plans to release for local use, isn’t due until later in 2026.

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  • Bears tighten grip on AVAX as open interest rises alongside falling prices

    Bears tighten grip on AVAX as open interest rises alongside falling prices

    Avalanche [$AVAX] token prices were down by 4.91% in the past 24 hours. This was among the biggest price drops for crypto assets in the top 35, by market capitalization, CoinMarketCap data showed.

    Source: Coinalyze

    The price drop came alongside an uptick in Open Interest in the past few hours, even as prices fell below the $6.50 local support zone. The spot CVD declined noticeably, and the funding rates also slipped into negative territory.

    In other words, the short-term market expectations were firmly bearish. Let’s see what the price trends hold in store for $AVAX bulls.

    The Avalanche bulls’ struggles have centered around $7 recently

    In a recent report, AMBCrypto detailed how the altcoin’s price trends were stalling even after a 20x surge in daily transactions onchain. The long-term price trend of Avalanche was pointed downward.

    It did not help that in the past 24 hours Bitcoin [BTC] fell below the $65.5k local support zone and was trading below $65k too at the time of writing. If this selling persists, it could trigger a bearish market sentiment shift, dragging $AVAX further south.

    Source: $AVAX/USDT on TradingView

    The longer-term downtrend saw a new swing low registered at $5.68. On the 12-hour timeframe price chart above, this has given rise to a bearish swing structure. A bullish structure would have come into play had the $7.08 swing high been broken.

    It was tested in early July, but not broken. The subsequent rejection has dragged prices lower. Over the past two weeks, $AVAX has traded between $6.38 and $6.78.

    At press time, the band of support around $6.40 appeared to have been breached. This could accelerate the downtrend and drive prices toward $6 and below in the coming days.

    Traders’ call to action- Maintain a bearish bias

    As the Coinalyze data showed, short-selling was becoming popular. As bearish conviction takes root in the derivatives market, it could lead to a short squeeze.

    Source: CoinGlass

    The 2-week $AVAX liquidation map underlined this threat precisely. To the north, the $6.70-$6.85 area had a dense cluster of short liquidations. This area can be a key magnetic zone that pulls prices upward briefly, before a continuation of the existing bearish trend.

    Therefore, traders can maintain a bearish bias but also be wary of a short squeeze.

    Final Summary

    • Avalanche witnessed steady spot selling, a slight uptick in Open Interest, and negative funding rates in recent trading hours- pointing to heightened short-selling.
    • The loss of the $6.50 support zone could push prices toward and below $6.0 next, but traders should beware of a potential short squeeze.
  • Cathie Wood Snaps Up $60M In Tesla, Circle, Securitize Shares As US Stock Market Crashes

    Cathie Wood Snaps Up $60M In Tesla, Circle, Securitize Shares As US Stock Market Crashes

    On Thursday, July 23, Cathie Wood’s ARK Invest purchased almost $60 million worth of Tesla, Circle Internet Group and Securitize Corp. stock. The purchases coincided with a dramatic sell-off in U.S. stocks. Inflation-driven higher oil prices, higher US Treasury yields and a strong dollar led to a bearish investor sentiment.

  • Stripe in Talks to Acquire AI Marketplace at $10 Billion Valuation

    Stripe in Talks to Acquire AI Marketplace at $10 Billion Valuation

    Stripe, the global payments infrastructure giant, is in discussions to acquire OpenRouter, a marketplace for AI models, at a valuation of approximately $10 billion, according to a report from Cointelegraph. The talks are ongoing, and sources familiar with the matter have indicated that no final decision has been reached.

    What OpenRouter Brings to the Table

    OpenRouter operates as a platform that aggregates access to various large language models and AI services, allowing developers to compare pricing, performance, and capabilities across providers. The marketplace simplifies the process of integrating AI into applications by offering a single API endpoint for multiple models. If the acquisition proceeds, it would mark a significant expansion of Stripe’s technological footprint beyond payment processing into the rapidly growing AI infrastructure sector.

    Strategic Implications for Stripe

    Stripe has been steadily increasing its investments in AI-related tools for developers. The company already offers Stripe Connect for platform payments and Stripe Billing for subscription management, both of which are widely used by AI startups. Acquiring OpenRouter would provide Stripe with a direct channel into the AI model distribution layer, potentially allowing it to bundle payment services with AI access. This move could create a more integrated ecosystem for developers building AI-powered applications, simplifying both their technical and financial operations.

    Market Context and Valuation

    The $10 billion valuation under discussion reflects the premium placed on AI infrastructure companies amid a broader technology industry shift. OpenRouter’s position as a neutral aggregator of AI models gives it strategic value, particularly as enterprises seek to avoid vendor lock-in with a single AI provider. For Stripe, which processes hundreds of billions of dollars in transactions annually, the acquisition would represent one of its largest deals to date, signaling a bet on the long-term convergence of payments and AI services.

    Uncertainty Remains

    It is important to note that the talks are preliminary and may not result in a finalized transaction. Regulatory scrutiny, valuation disagreements, or competing offers could alter the outcome. Neither Stripe nor OpenRouter has publicly confirmed the negotiations. The information currently available is based on sources close to the discussions, and further details may emerge as the process develops.

    Conclusion

    The potential acquisition of OpenRouter by Stripe underscores the growing intersection between financial technology and artificial intelligence. If completed, the deal would give Stripe a foothold in the AI model marketplace, offering developers a unified platform for both AI access and payment infrastructure. For now, the industry watches closely as these high-stakes negotiations continue.

    FAQs

    Q1: What is OpenRouter?
    OpenRouter is a marketplace that provides developers with access to multiple AI models through a single API, allowing them to compare and integrate different large language models without managing separate integrations.

    Q2: Why is Stripe interested in acquiring OpenRouter?
    Stripe likely sees OpenRouter as a strategic asset to expand its developer tools ecosystem, combining AI model access with its existing payment and subscription services to create a more comprehensive platform for AI-powered businesses.

    Q3: Is the deal finalized?
    No. The acquisition talks are ongoing, and no final agreement has been reached. The outcome remains uncertain, and the deal could still fall through.

  • Changpeng Zhao Ignored This One Market, Now It Is Worth Over $311 Billion

    Changpeng Zhao Ignored This One Market, Now It Is Worth Over $311 Billion

  • Goldman Sachs CEO Breaks With Wall Street to Back Crypto Clarity Act

    Goldman Sachs CEO Breaks With Wall Street to Back Crypto Clarity Act

    In brief

    • Goldman Sachs CEO David Solomon told Politico he is “very supportive of moving the Clarity Act forward.”
    • His stance breaks with much of Wall Street, including JP Morgan’s Jamie Dimon and a coalition of banking trade groups who want stronger language limiting stablecoin yield.
    • The endorsement lands as Republicans circulate updated bill text preserving the market framework while adding contested ethics provisions, leaving the Clarity Act’s Senate path uncertain ahead of a hoped-for vote before the August recess.

    Goldman Sachs Chairman and CEO David Solomon has come out in favor of the Clarity Act, positioning one of Wall Street’s biggest banks apart from much of the industry as the crypto market-structure bill approaches a possible Senate floor vote.

    “I’m very supportive of moving the Clarity Act forward, so we can get some market structure in place and start to move the innovation process along,” Solomon said in an interview with Politico.

    The Clarity Act, if passed and signed into law, formally legalize most cryptocurrency activity in the United States, classifying most crypto assets as non-securities and outside the purview of the SEC. The bill also carries provisions that would protect decentralized software developers and addresses the practice of offering rewards on stablecoin balances.

    Solomon acknowledged the legislation is far from flawless, telling Politico that, “like all legislation,” the bill “is not perfect” and leaves plenty to debate. Its central value, he argued, lies in creating “a level playing field to enhance market stability and allow these markets to develop appropriately.” According to Politico, Solomon also suggested the framework could draw more institutional players into crypto markets—a stated priority for Goldman.

    That stance sets him apart from the broader banking sector, which has spent months fighting one provision in particular: language governing yield on stablecoins.

    Stablecoins are blockchain-based tokens that are designed to hold a steady value and are typically pegged one-to-one with the U.S. dollar. Traders use them to enter and exit positions without the need to access dollars directly, while market participants use them to make payments or send remittances overseas.

    Crypto companies such as Coinbase have for years offered rewards on certain stablecoin balances, like the Circle-issued USDC. Those rewards can range between 3-5% APY, which is significantly greater than what banks typically offer on a traditional savings account. This practice, now commonly referred to as stablecoin yield, was—in a roundabout way—essentially codified into law with the passage of the GENIUS Act last year.

    The banks and their lobbyists in Washington have been fighting to change it ever since, pouncing on the Clarity Act as their opportunity to close what they view as a loophole in the law.

    JP Morgan Chase CEO Jamie Dimon has been the loudest critic of stablecoin yield, arguing in a May appearance on Fox Business that letting crypto firms pay rewards on dollar-pegged tokens without bank-equivalent oversight would hand them an unfair edge. “The banks will not accept it that way,” he said at the time.

    The industry’s objections run deep. In May, a coalition of the nation’s top banking trade groups warned senators that a proposed compromise on stablecoin yield contained loopholes that would enable “evasion” of the intended limits, cautioning that such rewards could pull deposits away from traditional lenders. Coinbase CEO Brian Armstrong has countered that banks are lobbying to kneecap stablecoin rewards precisely because they threaten deposit-based business models.

    Solomon’s endorsement of the Clarity Act lands at a pivotal moment. Republican senators this week circulated updated bill text that preserves the core market framework while adding new ethics provisions restricting officials—language Democrats have already blasted as insufficient to address President Donald Trump’s crypto dealings.

    With unresolved fights over stablecoins and ethics still in play, the bill’s path through the Senate remains uncertain ahead of a vote lawmakers hope to hold before the August recess.

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  • Senate leader casts doubt on Clarity Act passage before August recess: CoinDesk

    Senate leader casts doubt on Clarity Act passage before August recess: CoinDesk

    The US Senate may begin considering the Digital Asset Market Clarity Act before its summer recess, but completing the crypto market structure bill by the industry’s preferred August 7 deadline appears increasingly unlikely, according to a CoinDesk report.

    Senate Majority Leader John Thune told reporters Thursday that he would like to at least begin the floor process.

    “I would like to at least get Clarity started,” Thune said. “We’ll see where the votes are.”

    Beginning consideration before the recess could preserve a path for the Senate to resume work when lawmakers return in September. The chamber is scheduled to begin its summer state work period on August 10 and return on September 14.

    The bill had not entered floor consideration as of Thursday, with the Senate instead working through judicial nominations, an Iran war powers resolution, and the annual defense authorization bill.

    Industry representatives and congressional negotiators had viewed August 7 as the practical deadline for passing the bill before lawmakers shift their attention toward the November midterm elections.

    The Senate will sit for only a limited period in September. Any amended version approved by senators would also need to return to the House before reaching President Donald Trump’s desk.

    The latest draft combines proposals from the Senate Banking and Agriculture committees and sets rules for digital asset exchanges, intermediaries, issuers, and federal oversight.

    Lawmakers remain divided over stablecoin rewards and ethics restrictions on senior government officials. Democrats have objected to giving the Justice Department responsibility for enforcing those rules, while some Republicans oppose the treatment of stablecoin rewards.

    The disputes could prevent the bill from securing the 60 votes needed to advance. Senator Cynthia Lummis said the most contentious provisions remain open to revision as negotiators seek Democratic support.

    The Clarity Act would define the roles of the SEC and CFTC in overseeing digital assets. The House approved its version in July 2025, while the Senate released a combined draft this week.

    Missing the August window would leave the bill with less floor time and greater political pressure ahead of the midterm elections.