Tag: CRYPTOS FoxBusiness

A crypto lobbying organization has sued the state of Illinois over a last-minute tax provision inserted into the state budget last month.

TDC (otherwise known as The Digital Chamber) alleged that Illinois’ Digital Asset Tax Act violated both the U.S. and state constitutions and is preempted by a federal tax law. The lawsuit, filed Tuesday, asks a federal judge to block the Illinois state government from enforcing the tax.

The tax violates the Illinois state constitution’s uniformity and due process clauses, the Commerce Clause of the U.S. Constitution and the Internet Tax Freedom Act by specifying digital asset transactions, the suit said.

The Digital Asset Tax Act was passed and approved on short notice last month, right before the Illinois state government wrapped up its session for the year. The 0.2% tax applies to any entities that are based in Illinois or provide services with gross receipts of over $100,000. The tax takes effect in January.

TDC’s lawsuit said the Internet Tax Freedom Act alone created a rule that “electronic commerce would not be subjected to discriminatory state and local taxation.”

Pump.fun has introduced BOOST mode, a new launch mechanism that automatically reinjects liquidity through token buybacks and burns after coins complete the platform’s bonding curve.

Introducing BOOST mode – the new standard launch mechanism for EVERY new pump fun coin

Over $100M in dead liquidity is lost every year when tokens migrate. Now, we’re reinjecting future liquidity into EVERY BONDED COIN.

Learn more 👇 pic.twitter.com/FJEE0rSXiB

— Pump.fun (@Pumpfun) July 21, 2026

The Solana memecoin launchpad said more than $100 million in liquidity becomes permanently trapped each year when tokens migrate from their bonding curves. The platform refers to this capital as dead liquidity because it remains locked in liquidity pools even after traders sell their holdings.

Under the previous migration structure, each token sacrificed roughly 20% of its liquidity, according to Pump.fun. BOOST mode redirects part of that capital into market purchases during the five minutes immediately following a migration.

The mechanism reinjects 17.6 $SOL for $SOL trading pairs or $2,516 for USDC pairs. Purchases are executed gradually through a time weighted average price system, with the acquired tokens automatically burned after each transaction.

Pump.fun said the feature does not require creators or traders to activate it. All eligible coins migrating after 10:23 a.m. Eastern Time on July 21 will automatically use the BOOST configuration.

Tokens that migrated before the cutoff will not receive the feature. Coins launched through Pump.fun’s Mayhem system are also excluded.

Pump.fun said the trading experience will remain unchanged, while the redirected liquidity is intended to create additional buying pressure and permanently reduce the circulating supply of migrated tokens.

Pump.fun’s native PUMP token traded largely flat following the announcement, although it remained up more than 30% over the previous seven days.

$XRP is having a strong day. The Ripple-linked token climbed about 4% over the last 24 hours to trade near $1.13, and this time the move has real drivers behind it — a major regulatory win, widening institutional access, and a broader market lifted by a resurgent Bitcoin. The rally has also pushed $XRP above a descending trendline that has capped every attempt to recover since its $1.54 high.

Let’s start with why it’s moving, then look at what the chart says.

Why is $XRP Price up today?

Three things are working in $XRP‘s favor at once.

First, regulation. Ripple has secured full MiCA approval to operate across 30 European countries, which strengthens its appeal to banks and payment providers and removes a layer of uncertainty that had kept institutions cautious. Second, access is widening: investors can now buy 21Shares $XRP through most brokerages without needing to hold the coin in self-custody — a meaningful lowering of the barrier for traditional money. Third, momentum from the broader market: $XRP posted its fourth straight green daily close on Monday, with the move powered in large part by a rebounding Bitcoin dragging the majors higher.

Put together, that’s a mix of structural and momentum drivers rather than a one-off spike.

$XRP Price Analysis: Is $XRP UP?

Now the technicals. From the $1.54 high, $XRP carved out a clean downtrend — a series of lower highs, each rejected right at the same descending line (the yellow arrows on the chart mark those failed attempts). Price bottomed near the $1 support zone, bounced, got rejected at the trendline again, and pulled back.

Today breaks that pattern. The latest green candle has pushed through the descending line near $1.1361 instead of bouncing off it. That resistance has defined $XRP‘s price action for roughly two and a half months, so clearing it is the first genuine technical win the bulls have had in a while. Analysts note the move also lines up with a symmetrical-triangle breakout that traders had been watching, with $1.13 as the key trigger level.

$XRP Prediction: Where does $XRP go from here?

Breaking a trendline is a start, not a confirmation. On the daily chart, $XRP is still inside a larger descending channel, with the 100-day and 200-day moving averages sitting overhead around $1.12-$1.13 and again near $1.24. That makes the $1.24-$1.28 zone the real test — it lines up with both the channel’s upper boundary and the major moving averages. Clear it decisively, and analysts see $1.35 coming into focus.

On the downside, support sits firmly around $1.02-$1.06, where buyers have repeatedly stepped in over recent weeks. A loss of that zone would undo the breakout and potentially expose the $0.88-$0.92 area.

The takeaway: $XRP has fundamentals and momentum aligning with a technical breakout — but it needs to hold above $1.13 and eventually crack $1.24-$1.28 to turn today’s move from a breakout attempt into a real trend reversal.

“If Senate Democrats block this historic legislation after the administration has bent over backward to accommodate their concerns, stakeholders should make no mistake: It is the Democrats who are blocking this legislation because they were never serious about a legislative outcome,” the White House official said.

Democratic negotiators such as Senators Kirsten Gillibrand, Ruben Gallego and Angela Alsobrooks reportedly haven’t received details of the agreement with Trump, who’d met personally with Republican senators last week. But many of the Democrats have drawn a line in the sand that the ethics provision — driven primarily by Trump’s own deep crypto connections — needs to be strong.

The dispute was heightened recently by the president’s disclosures that he’d pocketed more than $1 billion last year from his crypto interests.

The White House, Republicans and their crypto industry allies are already building their case against any Democrats who don’t accept the new answer to their ethics demands. It’s unclear when they’ll get to see it.

The industry is expecting full circulation of the Clarity Act legislative language as soon as Tuesday night or Wednesday, though that expectation has been repeatedly delayed since last week.

The Senate has fewer than three weeks to finish the bill, including the ethics piece, and get it through the political gauntlet of a floor vote before lawmakers leave town for their reelection campaigns. There’s technically enough time, but even without significant further debate, it would be tight.

Russia’s central bank had laid out the proposed framework in December that would legalize and regulate cryptocurrency trading for both individuals and institutions. The new law also follows the deployment of the European Union’s (EU) most significant sanctions package against Russia in April, which specifically targets crypto. It includes a complete ban on providers and platforms established in that country.

“Russia is becoming increasingly reliant on cryptocurrencies for international transactions,” the EU said.

Russia’s new digital assets law oversees crypto mining activities, issuance and circulation of cryptocurrencies and the services provided by brokers, asset managers, trading platforms and clearing houses.

The law does not lift Russia’s longstanding prohibition on the use of crypto for payments of goods and services within the country. It also bans banks and others from advertising and promoting crypto payments.

However, it preserves several exceptions, including allowing digital currencies to be used for settlements under foreign trade contracts between Russian residents and non-residents, transactions involving mined cryptocurrency, payments required by digital asset platforms and settlements involving securities or other digital assets.

Crypto News: MemeToro Launches AI Agent Rankings …

MemeToro has announced a dedicated ranking system for AI-generated memecoins, giving users a focused way to discover and monitor projects launched by AI agents.

MemeToro has announced plans to introduce a dedicated AI Agent Rankings feature as part of its expanding blockchain ecosystem. The new section will provide users with a focused way to discover and monitor memecoins launched by AI agents using live market data, trading activity, and on-chain metrics.

The feature is being developed in response to the growing number of AI-generated memecoins entering the market. Rather than displaying these projects alongside thousands of other cryptocurrencies, the ranking system will create a dedicated category designed specifically for AI-powered token launches.

The announcement forms part of MemeToro’s broader roadmap to combine blockchain analytics, AI-powered applications, decentralized prediction markets, and community participation within a single ecosystem powered by the $MT utility token.

Dedicated Rankings for an Emerging Category

MemeToro said AI-generated memecoins have become one of the fastest-growing areas of blockchain activity, yet most market trackers continue to group these projects with the wider cryptocurrency market.

The upcoming AI Agent Rankings page is intended to provide users with a dedicated view of this category through continuously updated rankings based on market performance and trading activity.

According to the company, the platform will allow users to monitor newly launched AI-generated tokens, compare projects, and follow changes in market activity from one location.

Future updates are expected to introduce additional metrics that provide deeper insights into ecosystem growth and token performance.

Live Analytics Designed for Faster Market Visibility

The AI Agent Rankings will build on MemeToro’s existing market analytics tools, including its live Trending Cryptos and Top Market Cap dashboards.

The company said combining multiple analytics products within one platform reduces the need to monitor several market trackers while providing users with blockchain data focused specifically on the memecoin sector.

As additional products are released, MemeToro plans to expand its analytics platform with new datasets covering AI-generated tokens, market activity, and ecosystem participation.

According to the company, these tools are intended to simplify research while improving access to blockchain information.

Public Presale Supports Ecosystem Expansion

Alongside the product announcement, MemeToro confirmed continued progress during Stage 4 of its public presale.

According to the company, more than $80,178.47 has been raised, representing 73.28% of the current fundraising target of $109,411.90.

The current Stage 4 price is $0.00232 per $MT. The company has published a planned listing price of $0.01875 following completion of the public presale, subject to the project’s launch roadmap.

MemeToro said proceeds from the presale will support platform development, infrastructure, security, and continued expansion of ecosystem products.

Published Tokenomics Support Long-Term Platform Growth

The company has also released the tokenomics for the $MT utility token.

According to MemeToro, the project has a fixed supply of 1.2 billion tokens, allocated across the public presale, ecosystem development, staking rewards, liquidity, treasury, marketing, and strategic partnerships.

The company said public presale allocations are expected to become available at launch, while selected allocations for marketing and partnerships will follow a 24-month vesting schedule designed to support long-term ecosystem development.

As development continues, MemeToro plans to introduce additional blockchain applications that expand the role of the $MT token across its growing ecosystem.

About MemeToro

MemeToro is developing an AI-powered blockchain ecosystem on the BNB Chain. The platform combines AI-powered token creation, live market analytics, decentralized prediction markets, staking, and blockchain applications through the $MT utility token. The company is building tools designed to simplify blockchain participation while supporting innovation across AI-powered Web3 technologies.

For more information, visit:

Email: [email protected]

Website: https://memetoro.com/

X: https://x.com/memetoro_mt

Telegram: https://t.me/memetoro_mt

Significant developments continue to unfold globally regarding cryptocurrencies. In this context, important news has come from two of the world’s largest economies: the US and Russia.

At this time, as the US reached a critical agreement regarding the Clarity Act, one of its most important pieces of legislation, Russia also crossed a significant threshold in its own regulatory framework.

According to an official statement from the Central Bank of Russia, the State Duma, Russia’s lower house of parliament, has approved a bill regulating cryptocurrencies in its latest vote.

However, the legal process is not yet complete. For the law to come into effect, it needs the approval of the Federation Council, the upper house of parliament, and finally, the final signature of Russian President Vladimir Putin. With Putin’s signature, the main provisions of the law are expected to enter into force on September 1, 2026.

The new regulation stipulates that cryptocurrency transactions in Russia can only be conducted through authorized brokerage firms.

At this point, the bill differentiates between cryptocurrency trading limits for general investors and qualified investors.

Accordingly, unqualified individual investors, provided they pass the eligibility test, will be able to purchase cryptocurrency worth a maximum of 300,000 rubles (approximately $3,800) per year through a single brokerage firm. In contrast, the cryptocurrency purchase limit for qualified investors is set at 3 million rubles.

The bill also imposes restrictions on cross-border transactions by individual investors. The limit for international cryptocurrency transfers for individual investors is set at 100,000 rubles, while the limit for qualified investors is 1 million rubles.

Ban on Crypto Payments Continues!

Despite all these regulations, the law does not change the ban on using Bitcoin and other cryptocurrencies as a means of payment within the country.

This means that the use of cryptocurrencies for payments for goods and services will remain prohibited in Russia, and the Russian Ruble will continue to be the sole official means of payment in the country.

“…It is important to note that making payments with cryptocurrency is still prohibited within the country…”

Permission Granted for the Use of Cryptocurrency in International Trade!

One of the notable provisions of the legislation concerns cross-border payments. While limits were placed on cross-border transactions by individual investors, commercial payments were exempted from these restrictions.

Exporters and importers will be able to use cryptocurrencies in international trade without any monetary limits. This practice will be overseen by the Central Bank of Russia.

“Exporters and importers will be able to use cryptocurrencies for cross-border payments without any restrictions. Such transactions will be possible through intermediary institutions and directly, for all types of wallets and cryptocurrencies.”

As a result, when the new regulation comes into effect, the cryptocurrency market in Russia will for the first time have a comprehensive legal framework. However, the ban on using cryptocurrencies for payments will remain in place.

*This is not investment advice.

Hyperscale Data, a Nasdaq-listed company that operates a Bitcoin treasury and AI data center business, has acquired an additional 51.5 Bitcoin through its subsidiary Ault Capital Group. The purchase, completed last week, brings the firm’s total Bitcoin holdings to 1,087.4527 $BTC, valued at approximately $70.3 million based on current market prices.

Strategic Expansion of Digital Asset Reserves

The acquisition continues Hyperscale Data’s strategy of building a substantial Bitcoin reserve alongside its core AI data center operations. The company has been steadily increasing its digital asset holdings over the past year, positioning itself among publicly traded firms with significant corporate Bitcoin treasuries. This approach mirrors a broader trend among some technology and financial companies that view Bitcoin as a strategic reserve asset and a hedge against inflation.

Hyperscale Data’s subsidiary, Ault Capital Group, executed the purchase. The company has not disclosed the average purchase price or the specific exchange used for the transaction. However, the timing of the buy aligns with recent market fluctuations, suggesting the company may have capitalized on price dips to accumulate more Bitcoin at a lower average cost.

Corporate Bitcoin Treasury: A Growing Trend

Hyperscale Data is part of a select group of publicly traded companies that hold Bitcoin on their balance sheets. While MicroStrategy remains the largest corporate Bitcoin holder, other firms like Tesla, Coinbase, and Block have also allocated portions of their cash reserves to the cryptocurrency. The strategy has drawn both praise from Bitcoin advocates and scrutiny from traditional investors concerned about volatility.

For Hyperscale Data, the Bitcoin treasury is intertwined with its AI data center business. The company operates facilities that support high-performance computing for artificial intelligence workloads, and it has explored using Bitcoin mining operations to optimize energy usage and generate additional revenue streams. This dual focus on AI infrastructure and digital assets creates a unique business model that appeals to investors interested in both sectors.

Market Implications and Investor Considerations

The announcement comes at a time when Bitcoin prices have shown resilience, trading in a range that has encouraged corporate accumulation. For Hyperscale Data shareholders, the increased Bitcoin exposure means the company’s stock price is now more closely correlated with cryptocurrency market movements. This can amplify both gains and losses, depending on market conditions.

Analysts note that corporate Bitcoin treasuries require careful risk management. Companies must account for potential price drops, regulatory changes, and accounting treatment of digital assets. Hyperscale Data has not indicated any plans to sell its Bitcoin holdings in the near term, suggesting a long-term conviction in the asset’s value proposition.

Conclusion

Hyperscale Data’s latest Bitcoin purchase reinforces its commitment to a digital asset-heavy corporate strategy. With over 1,087 $BTC now on its balance sheet, the company continues to distinguish itself in the public markets as a hybrid AI infrastructure and cryptocurrency treasury firm. Investors and industry observers will be watching to see whether this approach yields sustained returns or introduces additional volatility to the company’s financial profile.

FAQs

Q1: Why is Hyperscale Data buying Bitcoin?
A1: Hyperscale Data views Bitcoin as a strategic reserve asset and a hedge against inflation. The company also operates AI data centers and sees synergies between cryptocurrency mining and high-performance computing infrastructure.

Q2: How much Bitcoin does Hyperscale Data now hold?
A2: After the latest purchase of 51.5 $BTC, Hyperscale Data holds a total of 1,087.4527 Bitcoin, worth approximately $70.3 million at current market prices.

Q3: Is this a common strategy among publicly traded companies?
A3: A small but growing number of public companies, including MicroStrategy, Tesla, and Block, have added Bitcoin to their balance sheets. The strategy remains controversial due to Bitcoin’s price volatility and regulatory uncertainties.

Blockchain infrastructure firm OpenWorld has teamed up with Blockchain.com to expand its real-world asset tokenization ecosystem through institutional trading, liquidity, and distribution support, according to a Tuesday statement.

The partnership also includes a strategic investment from Blockchain.com as the companies work together on RWA initiatives and digital asset infrastructure.

“We’ve made a deliberate decision to build OpenWorld’s infrastructure layer alongside best-in-class institutional counterparties,” Matthew Shaw, CEO and co-founder of OpenWorld stated. “Blockchain.com brings the execution depth, product breadth, and regulatory infrastructure that our clients and pipeline demand.”

Through the multi-year collaboration, Blockchain.com will provide execution capabilities and institutional market infrastructure to support OpenWorld’s token issuance, treasury management, and advisory activities.

The companies aim to build a more integrated platform for institutions seeking to issue and manage tokenized assets.

OpenWorld and Blockchain.com said the partnership reflects growing institutional interest in RWA tokenization, as investors increasingly look for onchain access to traditional asset classes.

“Partnering with OpenWorld is a natural step forward for our institutional business,” Al Turnbull, Managing Director, Institutional Client Services at Blockchain.com, noted. “OpenWorld has built a powerful foundation for token launches and real-world asset tokenization. By connecting our networks, we are delivering a seamless, secure pipeline for institutions looking to launch tokens and manage digital assets at scale.”

The companies plan to pursue joint go-to-market initiatives and expand adoption of tokenized assets across institutional and private markets.

Russia’s parliament has adopted a major crypto regulation bill that creates the country’s first comprehensive framework for digital currency circulation.

The legislation establishes rules covering crypto exchanges, brokers, custodians, and other market participants while defining how individuals and businesses can buy, store, and trade digital assets.

Under the new framework, crypto use will be permitted through licensed intermediaries, but digital assets cannot be used to pay for goods and services within Russia. The law allows a wider use of crypto in foreign economic activities as the government seeks to support cross-border transactions.

The main provisions are scheduled to take effect in September 2026, with a transition period lasting until July 2027.

Regulators will also continue developing related rules covering crypto taxation, liability for violations, and measures against fraudulent transactions.

This is a developing story.