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The United States spot exchange-traded funds (ETFs) have continued to record mixed fortunes, with Bitcoin ETFS seeing continued outflows for the fourth consecutive day, losing $196 million on August 5. On the other hand, Ethereum ETFs saw $73.22 million net inflows, decoupling from the Bitcoin-linked sentiments.

Ethereum ETFs were largely influenced by United States firm BlackRock’s ETHA, which saw more than $89 million in inflows in a day. The retreat from Bitcoin comes amid fears of stagflation in the United States economy. It follows new PMI data submitted by ISM Services showing inflationary pressures from tariffs, weakening employment, and trade disruptions. However, the digital asset market remains marginally stable on Wednesday morning, holding steady around the $3.73 trillion cap.

United States spot BTC ETF tumbles as Ethereum jumps

According to On-chain data, Fidelity’s FBTC led the decline with nearly $100 million in outflows. BlackRock’s IBIT reported $77.42 million of outflows, while Grayscale’s GBTC posted $19.65 million of withdrawals. Last week, BTC ETFs saw $643 million flowing out, while more than $529 million has been drained out from the funds.

After recently touching a new all-time high, Bitcoin has dropped back to the $113K-$114 zone. BTC price is down by 3.4% in the last 7 days, but it has still managed to hold gains of 4.8% over the past 30 days. The original crypto is trading at an average price of $114,081 at press time.

Meanwhile, Ethereum ETFs’ comeback was spurred by BlackRock’s ETHA. At the same time, VanEck ETHV and 21Shares’ CETH posted $5.24 million and $3.57 million influx, respectively. On the other hand, Grayscale’s ETHE saw $10.91 million leave the fund. With printing green index on Tuesday, ETH ETFs have broken the 2 days streak of outflows. July turned out to be the biggest month of Ethereum ETFs as it docked $5.43 billion.

Ethereum has largely outperformed Bitcoin over the last month. ETH price surged by 40% in the last 30 days; on the other hand, BTC remained up by just 4%. Ether is trading at an average price of $3,614 at press time. ETFs fever seems to be growing globally. Japan’s largest banking group, SBI Holdings, is making a major push into crypto ETFs.

According to reports, the firm has revealed its intention to apply to list two crypto-related ETFs, applying to the country’s Financial Services Agency. The first is expected to hold direct exposure to Bitcoin and XRP, while the second is called the “Digital Gold Crypto ETF.” This will mix gold-backed securities with digital assets. The ETFs are expected to be listed on the Tokyo Stock Exchange.

SBI has long been a Ripple ally, and the move is seen as part of its broader strategy to bridge digital assets with the traditional financial system. If approved, these will be Japan’s first publicly traded crypto ETFs. It will potentially set a regulatory precedent in Asia. On the market side, XRP price is up by 41% on a year-to-date (YTD) basis, despite being dragged down by 7% in the past 7 days. XRP is trading at an average price of $2.92 at press time after hitting $3.6 in July.

The post United States spot ETFs experience mixed fortunes first appeared on Coinfea.

OpenAI has announced the release of its first open-source AI model since 2019, marking the end of years of delay and speculation. The company released gpt-oss-120b and gpt-oss-20b on Tuesday, allowing users to download the two customisable large language models that don’t require a license fee or API gate.

Both models are text-only, appearing to be shared under an Apache 2.0 license. This means that anyone can download the model weights from platforms like GitHub and Hugging Face. They also work on LM Studio and Ollama, and can run on everything from laptops to cloud servers. OpenAI said the models are optimized to function across a range of hardware, including consumer devices and chips from Nvidia, AMD, Cerebras, and Groq.

OpenAI says its model can block malicious fine-tuning

According to its statement, OpenAI said it delayed releasing the models because safety evaluations were still ongoing. During pre-training, the company said it filtered sensitive material, specifically chemical, biological, radiological, and nuclear data. It also tested scenarios where bad actors might try to fine-tune the models for malicious tasks. The company reported that none of those experiments led to models reaching its internal “high capability” threshold, a classification outlined in its Preparedness Framework, which it uses to assess harm potential.

Greg Brockman, OpenAI’s president, told reporters, “It’s been exciting to see an ecosystem develop, and we are excited to contribute to that and really push the frontier and then see what happens from there.” He added that the company also included three external expert groups to audit and comment on the fine-tuning of safety tests. These models aren’t open-source in the traditional sense.

OpenAI said it will only release the model weights and not the full training code or datasets. It said they are still open enough to allow users to test, fine-tune, and deploy them however they want to. The company framed this as a middle ground between full transparency and maintaining some control. The models will also be available through cloud platforms.

Meanwhile, Amazon, Microsoft, and Baseten are offering gpt-oss-120b and gpt-oss-20b directly to customers. This is the first time that Amazon Web Services will be hosting OpenAI models, making them accessible through both Bedrock and Sagemaker. Amazon said these models will help customers build AI agents capable of advanced reasoning and step-by-step thinking. Amazon CEO Andy Jassy has made AWS into a marketplace where companies can pick from multiple AI providers, not just Amazon’s in-house tools.

In addition to OpenAI, Amazon has also partnered with Anthropic, putting $8 billion into the AI startup. The deal will allow AWS clients to access Anthropic’s Claude models. On Tuesday, Anthropic said it would release a new Claude model, which it claims is better at coding, research, and data analysis than its previous versions.

The release puts OpenAI in the same lane as other companies offering open-weight models, like Meta, Mistral AI (which is backed by Microsoft), and DeepSeek, a Chinese startup that previously gained attention for building an AI model with human-like reasoning.

Reacting to the news, Jensen Huang, CEO of Nvidia, said, “OpenAI showed the world what could be built on Nvidia AI — and now they’re advancing innovation in open-source software.” Nvidia partnered with OpenAI to make sure the models perform well across its hardware. So did AMD, Cerebras, and Groq, giving users more flexibility when choosing where to run the models.

The post OpenAI announces the release of its first open-source AI model, GTP-OSS first appeared on Coinfea.

IOTA Miner, a UK-based fintech platform established in 2018, offers a mobile-first cloud mining service designed to simplify access to cryptocurrency mining. The platform supports major digital assets including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and USD Coin (USDC), enabling users to participate without the need for manual trading or specialized hardware.

The company has grown to serve over 9 million users across 195 countries, offering an alternative investment pathway in a market characterized by volatility and uncertainty.

“Investors today seek stability, automation, and environmental responsibility in their financial tools,” said Mary Smith for IOTA Miner. “Our platform is built to meet those needs with transparency and security.”

Key Features of the IOTA Miner Platform:

Multi-Currency Support: Enables deposits and withdrawals in BTC, ETH, XRP, and USDC.

Automated Daily Settlements: Users earn passive income daily without active portfolio management.

USD-Denominated Contracts: Helps mitigate the impact of crypto market fluctuations.

Mobile App Interface: Designed for accessibility, allowing investors to manage accounts from any location.

Bank-Grade Security and Regulatory Compliance: Ensures data protection and operational transparency.

Renewable Energy-Powered Infrastructure: Aligns with global sustainability goals.

With zero technical requirements, the platform aims to bridge the gap between everyday users and digital asset income generation. Its operations are fully cloud-based and powered by clean, renewable energy, offering a low-carbon alternative to traditional mining setups.

Real-World Impact

One early adopter, Tom—a former equity trader based in Chicago—shared how the platform changed his investment approach:

“IOTA Miner allows me to diversify my crypto holdings without needing to stay glued to market trends. It’s like earning daily dividends—automatically.”

How It Works

New users can create an account and explore platform features with a $15 free trial bonus.

After depositing crypto assets, they can choose from flexible mining contracts and start receiving earnings automatically. Withdrawals are available once the account reaches a $100 balance.

About IOTA Miner

Founded in 2018, IOTA Miner is a global cloud mining platform focused on accessibility, automation, and sustainability. The company provides users with secure, compliant, and environmentally conscious tools to generate daily income from major cryptocurrencies. With a growing international user base and a mobile-first approach, IOTA Miner continues to redefine how digital assets are put to work.

Media Contact Information

Mary Smith

[email protected]

https://iotaminer.com

Disclaimer: The content within the Sponsored Insights and Press Release category has been provided by our partners and sponsors. The views and opinions expressed in these articles are those of the authors and do not necessarily reflect the official policy or position of our website. While our team takes care to share valuable and reliable content, we do not take responsibility for the accuracy, completeness, or validity of any claims made in these sponsored articles and Press Releases. Readers are encouraged to conduct their own research and due diligence before making any decisions based on the information provided in Sponsored Insights.

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Ethereum Layer-2 blockchain Base, which powers Coinbase, experienced a 33-minute block production outage today, Tuesday, caused by the misconfiguration of a failover system. 

It arose at 6:07 a.m. UTC when the primary sequencer started falling behind and an automatic shift of activity to a backup one that was not operational.

Backup System Error Disrupts Block Production

The network also employs a management tool called the Conductor that redirects traffic to backup sequencers in case of disruption. Nevertheless, the Conductor erroneously gave control to a sequencer that was still in development. It was not ready to do live transactions, and hence, block production stopped entirely.

In a short time, the engineers recruited to work had restored things to normal, and the whole process was operating at 6:40 a.m. UTC. There was no need to reorganize the chains, which maintained the integrity of the network.

The event is Base’s second outage since its rollout. On September 5, 2023, there was a 43-minute prior incident of block production failure.

Centralized Design Raises Reliability Concerns

The sequencer design used by Base—a centralized component—has been cast in doubt as a result of the outage. Although there are a couple of sequencers, they only take a turn at a time and are chosen by the Conductor. The whole network may come to a halt if the sequencer provided is not available.

This architecture introduces a single point of failure, which is of concern to a system where large volumes are processed. This week, the Base has a total value of locked over 4.1 billion, as stated in DeFiLlama.

Base will, in turn, remap all sequencers in the system. Such a switch will enable backup nodes to come in instantly and not experience service disruptions.

Developers Accept Responsibility and Back Base

The Base engineering team was responsible for ensuring the outage. The head of engineering of this network, called Aflock, has not denied the mistake and said that the team is working on precautions to avoid such problems in the future.

Industry voices did not criticize; they supported. Save Finance founder 0xrooter noted that real users mean real complaints. Mert Mumtaz, the CEO of Helius Labs, likened the incident to previously observed problems in Solana, which nevertheless did not discourage its use.

It now has 1.09 million active addresses, with Solana leading at 2.83 million. The two chains are still highly utilized even after past network difficulties. The altcoin Solana has approximately $9.6 billion of DeFi TVL, whereas Base is sixth.

These statistics reveal that users’ confidence is high after outages, which indicates expansion in both ecosystems.

The post Base Outage Blamed on Faulty Backup Switch as Network Halts for 33 Minutes first appeared on Coinfea.

In on-chain stablecoin transactions, USDC takes a leading position because the volume of its accumulations in July exceeded a new record: $1.5 trillion. 

The milestone indicates new growth within the decentralised finance market, which has been saturated by a constant increase in the volume of settlements on-chain since January. On-chain analytics company Sentora verified this growth, indicating that USDC will continue to reign in 2025.

Stablecoin settlements hit record highs

July saw an even greater number of on-chain stablecoin activity than previous monthly peaks. It exceeded the April figures of $1.44 trillion and those set in May of $1.39 trillion. In January and February, the volumes were less than 1.2 trillion. Settlements in stablecoins have been higher than that since March. August has already reached the mark of $200 billion over 5 days, so it is set to surpass the mark of 1.2 trillion.

Stablecoins monthly on-chain volume (Source: Sentora)

Increasing participation in DeFi is associated with rising on-chain volumes. Statistics on Defillama reveal that the total value locked in DeFi increased 3 percent in a day to 137.33 billion. The data contained in Sentora further indicates that DeFi TVL has hit a three-year high of almost $179 billion due to the increase of ETH towards $4 000 and the inflow of liquid staking protocols.

USDC leads stablecoin transactions

USDC in Circle is the dominant on-chain stablecoin, with 40-48 percent of all stablecoin DeFi transactions processed this year. USDT of Tether comes in second with 20-27 percent. The router set-up fluctuations DAI are 17- 33 percent, whereas Ethena USDe has a smaller share at 3 percent. Together, USDC, USDT, and DAI represent more than 90 percent of the transaction volume of stablecoins in a month.

Despite the dominance of USDC in usage, USDT remains to expand into DeFi. Its provision on Aave has been increased by 123 percent year-to-date and is close to $7.5 billion. This indicates higher confidence in USDT among users in DeFi activity, even though USDC has a leading grip in the percentage of transactions.

Stablecoin supply nears $370 billion

USDT is also the largest stablecoin in terms of supply. It commands 61.41 percent of the overall market and has a market cap of 164.70 billion dollars. The supply of USDC is 63.85 billion dollars. USDe contains 9.517 billion dollars, USDS of sky dollar 4.87 billion, and DAI 4.33 billion. USDe rose by 79.47 percent within one month, whereas Falcon USD increased by 102 percent, hitting the threshold of 1.09 billion.

The market cap of stablecoin increased to $268.20 billion with a gain of $13 billion in a month. This is the growth trend that is enabled by improved regulation. Reneging on its promise in the SEC, the SEC recently reclassified some fully-backed stablecoins as cash equivalents. This action increases the level of trust in wider systems of regulation.

The post USDC Leads On-Chain Activity as Stablecoin Settlement Tops $1.5 Trillion in July first appeared on Coinfea.

1 MONTH TO GO: EMPOWERING THE FINTECH ECOSYSTEM – SAUDI ARABIA GEARS UP FOR ITS LEADING FINTECH SUMMIT 

Date: September 2–3, 2025 

Location: Radisson Blu Hotel & Convention Center, Riyadh Minhal, Saudi Arabia Website: https://ksa.finnovex.com 

Riyadh, Saudi Arabia – With just one month to go, the countdown has officially begun for the 32nd global edition of the Finnovex Series — Finnovex Saudi Arabia 2025, taking place on September 2–3, 2025, at the prestigious Radisson Blu Hotel & Convention Center, Riyadh. 

Under the theme “Empowering the Fintech Ecosystem: From Disruption to Collaboration”, this year’s summit will bring together over 300+ senior decision-makers, fintech innovators, regulators, and financial industry leaders to accelerate the Kingdom’s digital transformation in line with Vision 2030. 

Key Themes to Be Explored: 

�� Fintech Disruption and Collaboration 

Explore the impact of digital wallets, blockchain, embedded finance, and digital identity on redefining customer experiences, and how strategic collaboration between regulators, banks, and startups is essential for scale. 

�� Building a Digital-First Financial Future 

Unpack intelligent automation, agile banking, and customer-centric digital transformation models that are redefining operational excellence and innovation across Saudi financial institutions. 

�� Regulatory Innovation and Governance 

Sessions will deep-dive into SAMA’s sandbox initiatives, digital bank licensing, and enhanced compliance frameworks around KYC, AML, cybersecurity, and digital assets. 

Why You Should Attend: 

�� Visionary Keynotes & Panel Debates featuring C-level leaders, regulators, and disruptors. �� Live Spotlights on neobanks, open banking, metaverse finance, RPA, and AI in BFSI. �� Real-World Insights into data strategy, financial inclusion, and cross-border payments.

�� Unmatched Networking with 300+ attendees from banks, fintech firms, regulatory bodies, and tech providers. 

Glimpse of our Esteemed Speakers who will be joining us: 

Hamad Alqunaibet- Acting Chief Executive Officer, Vision Bank 

Elie El Asmar- CEO, HSBC – Oman 

Nizar Altwaijri- CEO, STC Bank 

Louai Alzaher- Chief Wholesale Bank Officer, Arab National Bank 

Saaed A. Assiri- Chief Digital Innovation Officer, SAB 

Mohammed Almisfer- Chief Information Officer, Banque Saudi Fransi 

Shahzad Anjum- Chief Information Officer (CIO), Gulf Bank- Kuwait 

Sami Al-Rowaithey- Chief Digital Officer (CDO), Alinma Bank 

Tariq Atiq- Chief Operating Officer, National Bank of Oman-Oman 

Enji Ghazzawi- Chief Operating Officer, Riyad Bank 

Majed Al Jeneny- Chief Credit Risk Officer, STC Bank 

Ayman Alhabib- Chief Risk Officer, D360 Bank 

Mohammad Al-Ramel- Chief Risk Officer, AlRajhi Takaful 

Nada (Z.) Al Jeffri- Chief Risk Officer, Standard Chartered Bank 

Official Sponsors 

Infosys Finacle- Platinum Sponsor 

Fimple- Gold Sponsor 

Dhamen- Silver Sponsor 

HID- Bronze Sponsor 

GuardSquare- Networking Sponsor 

Zoho- Networking Sponsor 

Odoo- Networking Sponsor 

Cubics Information System- Networking Sponsor 

Creatio- Networking Sponsor 

IBI Union- Association Partner 

Don’t Miss the Prestigious 

Finnovex Saudi Arabia Awards 2025 

The summit will also celebrate excellence in innovation, cybersecurity, InsurTech, customer experience, and ESG-driven finance.

Whether you’re a fintech founder, policymaker, transformation leader, or digital strategist—Finnovex Saudi Arabia 2025 is your gateway to future-defining conversations and strategic opportunities. 

Register Now: https://ksa.finnovex.com 

For media, partnerships, or speaking inquiries, contact [email protected] 

About Finnovex 

Finnovex is a globally recognized platform for innovation and collaboration in financial services. With editions across the Middle East, Africa, and Asia, Finnovex connects leaders and pioneers to shape the digital future of banking and finance. 

Visit: www.finnovex.com 

Disclaimer: The content within the Sponsored Insights and Press Release category has been provided by our partners and sponsors. The views and opinions expressed in these articles are those of the authors and do not necessarily reflect the official policy or position of our website. While our team takes care to share valuable and reliable content, we do not take responsibility for the accuracy, completeness, or validity of any claims made in these sponsored articles and Press Releases. Readers are encouraged to conduct their own research and due diligence before making any decisions based on the information provided in Sponsored Insights.

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Meet the Top 1% in Web3. From  industry leaders, visionaries and innovators of the Blockchain industry all under one roof at Abu Dhabi

Following the resounding success of past two editions, VAP Group in association with  Times of Blockchain is set to host an exclusive event on 10-11th December, 2025 in Space42 Arena,Abu Dhabi, that will bring together 5,000+ attendees, 200+ global expert speakers, 300+ leading investors, and 150+ media representatives on one dynamic platform to shape the future of the decentralized technology showcasing cutting-edge blockchain applications across multiple industries.

We are also proud to announce the support of the Abu Dhabi Convention & Exhibition Bureau for the upcoming Global Blockchain Show, further strengthening our mission to bring world-class innovation and thought leadership to the heart of the UAE. 

Over the years, the Global Blockchain Show has played a vital role in advancing blockchain adoption worldwide. Here’s what our past event helped to achieve: 

5000+ attendees with 200+ sponsors; 70+ industry expert keynotes and 48% C Suite Founders around the globe on a single platform driving innovation through technology.

What to Expect in 2025: From disruptive startups to established blockchain leaders, Global Blockchain Show Abu Dhabi is the ultimate platform to showcase innovations, secure investments, and shape the decentralized future. Whether you’re a founder looking to scale, an investor seeking the next big opportunity, or a Web3 enthusiast eager to connect with like-minded visionaries, this event is your gateway to the forefront of blockchain technology.

Exclusive Keynotes & Fireside Chats: Insights from blockchain pioneers and global leaders driving the next phase of Web3 innovation.

High-Impact Networking: Connect with investors, developers, entrepreneurs, and policymakers shaping the blockchain landscape.

Live Demos & Exhibitions: Experience firsthand the latest advancements in blockchain, DeFi, NFTs, and enterprise applications.

Pitch Competitions & Hackathons: Discover the next wave of disruptive startups and emerging tech talent.

Global Blockchain Show Week (3rd – 12th December): It convenes trailblazing events where visionary founders, pioneering developers, and forward-thinking investors come together for curated side events – a multi-day, country-wide exploration of blockchain technology, anchored by the Global Blockchain Show. 

Join the Movement Today

As blockchain continues to revolutionize industries from finance to supply chain and beyond, the Global Blockchain Show 2025 co-located with The Global Games Show serves as the ultimate convergence point for thought leaders and disruptors. Don’t miss the opportunity to be part of this transformative journey!

For media inquiries, please contact: [email protected]

About VAP Group: A leading AI, Blockchain and Gaming consulting giant driving AI and Web3 solutions over the past 12 years under the flagship events that are globally renowned under the brand of Global AI Show, Global Games Show and Global Blockchain Show. With a strong UAE, UK, India and Hongkong footprint, our expert team of 170+ professionals ensures our clients remain at the forefront of innovation. We drive innovation through Strategic PR and Marketing, Bounty Campaigns, and Global Events that showcase the brightest minds in the transformative fields of Web3, AI and Gaming. We also offer services in Advertising & Media and Staffing.

Disclaimer: The content within the Sponsored Insights and Press Release category has been provided by our partners and sponsors. The views and opinions expressed in these articles are those of the authors and do not necessarily reflect the official policy or position of our website. While our team takes care to share valuable and reliable content, we do not take responsibility for the accuracy, completeness, or validity of any claims made in these sponsored articles and Press Releases. Readers are encouraged to conduct their own research and due diligence before making any decisions based on the information provided in Sponsored Insights.

The post Block your dates for The Global Blockchain Show 2025 hosted by VAP Group in Abu Dhabi  first appeared on Coinfea.

Palantir has hit a new milestone, crossing $1 billion for the first time with its second-quarter revenue. The company, owned by Peter Thiel, confirmed that revenue grew about 48% year-over-year to hit $1.004 billion. According to the company, the figure was influenced by growth in both United States commercial and government deals.

The company has now set its sights on a new $1 trillion valuation. The firm has also raised its full-year guidance across key metrics, noting an increase in demand for its AI software. “We are guiding to the highest sequential quarterly revenue growth in our company’s history, representing 50% year-over-year growth. This was a phenomenal quarter. We continue to see the astonishing impact of AI leverage,” CEO Alex Karp said.

Revenue from the United States rose by 68% compared to the same quarter last year, reaching $733 million. Commercial deals brought in $306 million, up by 93%, while government contracts generated $426 million, which represents 53% over last year. The company also saw its Rule of 40 score hit 94% in the quarter.

Palantir records $1 billion second-quarter milestone

Palantir mentioned that its total contract value hit $2.27 billion, representing a rise of 140% compared to the same time in 2024. Commercial contracts represented about $843 million of the total, rising 222% year-over-year. The company also mentioned that the remaining deal value from US commercial accounts has reached $2.79 billion, which is about 145% compared to 2024 and 20% higher than Q1.

In terms of user count, Palantir saw a 43% rise year-over-year and a 10% quarter-over-quarter jump, showing that the firm’s market presence has been growing. The firm also saw GAAP income from operations of $269 million, with a margin of 27%, while adjusted operating income came in at $464 million with a 46% margin. Net income hit $327 million, which gives it a 33% margin, while adjusted net income was $404 million.

Palantir also brought in $539 million in cash from operations and ended the quarter with $569 million in adjusted free cash flow. The company now holds $6 billion in cash, cash equivalents, and U.S. Treasury securities. Earnings per share stood at $0.13 GAAP and $0.16 adjusted. Adjusted EBITDA hit $470 million, giving a 47% margin.

The firm expects increased revenue in Q3

According to Palantir, it expects revenue to fall between $1.083 billion and $1.087 billion in Q3, and adjusted income from operations to range between $493 million and $497 million. For the full year, revenue guidance has been raised to between $4.142 billion and $4.150 billion. Adjusted income from operations has also been estimated to fall between $1.912 billion and $1.920 billion, and adjusted free cash flow is expected to come in between $1.8 billion and $2.0 billion.

“All the value in the market is going to go to chips and what we call ontology,” Alex said in his shareholder letter. He attributed the latest milestone to several developments, including the rapid combination of language models, chip capacity, and Palantir’s software. Alex also added that this momentum came after years of investment in infrastructure and being dismissed by critics. “The skeptics are admittedly fewer now, having been defanged and bent into a kind of submission,” he added.

During the earnings call, Alex mentioned that US companies need to resist becoming bland compromises of global preferences. He also warned against shallow acceptance of all opinions, referencing C.S. Lewis’s 1943 book The Abolition of Man and its warning about men without chests. “Such men promise to shepherd us forward yet lack much substance,” he said. “They are little more than administrative caretakers.”

After the release of the report and earnings call, Palantir’s stock surged by more than 3% in extended trading, while stock futures reacted to its outstanding outperformance across major indexes. Dow Jones futures rose 74 points, or 0.2%, and S&P 500 and Nasdaq 100 futures each also rose 0.2%.

The post Palantir hits $1 billion Q2 milestone first appeared on Coinfea.

Adtech firm OpenX has filed a lawsuit against Google, alleging that the company used unfair methods to undermine competitors in the digital advertising industry and is pursuing damages for the losses incurred. OpenX submitted an antitrust suit in the U.S. District Court for the Eastern District of Virginia on Monday, aligning with an existing action by the Department of Justice.

According to a Business Insider report, the detailed 88-page complaint alleges that Google has been putting smaller companies at a disadvantage, successfully preventing them from engaging on equal terms. OpenX mentioned that Google has exploited its commanding market share in digital advertising “to rig the rules by which digital advertising is bought and sold, to the detriment of OpenX and the entire industry.”

OpenX sues Google for alleged ad market misconduct

In its complaint, the firm argues that these practices have “stifled innovation, harmed competition, decreased product quality and caused significant damage to OpenX, as well as to Google’s own publisher and advertiser customers.” The recent OpenX lawsuit comes after a notable April decision that went against Google’s practices. As reported by Cryptopolitan, Judge Leonie Brinkema ruled that Google unlawfully monopolizes certain ad tech markets.

The verdict came after a trial in which the DOJ accused Google of reinforcing its dominance through strategic acquisitions and manipulative auction practices, ultimately finding the company liable for cornering the publisher, server, and ad exchange sectors. Google offers tools for publishers, advertisers, and an ad exchange all in one.

The court mentioned that giving Google all three services gives it too much control over ads and could force a breakup of its adtech arm. Google announced its plan to appeal, with a remedies hearing on September 22. OpenX emphasizes its status as a small player, holding just a minimal fraction of the ad exchange market. It claims that Google’s conduct forced its ad server out of business, leading to its closure in 2019.

The complaint added the tricks Google forced publishers to drop OpenX through illegal package deals, rigged auctions so OpenX lost more bids, and secretly funneled ad dollars to its exchange. OpenX wants a jury trial, financial damages, and a court order to stop Google’s unfair tactics.

“Now that the Court has found Google’s conduct to be illegal and anticompetitive, this lawsuit seeks to recover damages for the harm caused to us and our shareholders, and to help ensure fair competition going forward,” said OpenX Chief Executive John Gentry in a statement.

The post OpenX drags Google to court over alleged ad misconduct first appeared on Coinfea.

The White House is drafting an executive order to target financial firms alleged to have terminated services to cryptocurrency companies and conservative organizations. 

The potential guideline may penalize banks that refuse because of their political affiliation or crypto involvement. A draft examined by The Wall Street Journal showed that banks found in violation will be liable to fines, suits, or pressure to transform their practices. 

The order would instruct federal regulators to vet violations of antitrust, consumer protection, and credit opportunity laws. Even though authorities anticipate the order this week, there is no definitive time since there are internal debates.

Crypto firms and conservatives report account closures

Crypto companies and so-called conservative organizations allege that their bank accounts have been denied services due to political/ ideological reasons. Even with no violation of the law, some reports are being designated as questionable or deleted unreasonably.

One prominent example is the Bank of America, which shut down the accounts of a Christian organization that conducts its business in Uganda. The group asserted that the move was religiously triggered. The bank claimed that it did so according to one of its policies against small businesses beyond the United States.

The draft criticizes this second point because certain banks disclosed customer information to federal officials as part of the Capitol riot investigation. It asserts that banks self-reported suspicious transactions that they suspected were connected with the events of January 6. On the one hand, such a level of control by banks could allow them to be used as political filters against access, giving unfair access.

Instead, several crypto companies report their silent and organized ban under the Biden administration. According to them, the regulators discouraged banks from cooperating with companies working with digital assets, and it is a so-called shadow ban.

Banks defend actions under compliance rules

According to Banks, they have incorporated risk into their decisions, particularly when it involves digital assets. They cite anti-money-laundering regulations and murky federal guidelines as reasons to be wary.

A number of them have revised internal regulations to explain non-discrimination based on political considerations. Still others have been working with Republican attorneys general to assure them of their willingness to play by the rules.

A Bank of America spokeswoman, speaking on behalf of the bank, confirmed that the bank is in support of clear federal guidance. He observed that the institution had made submissions to assist in enhancing the regulatory environment.

Executive order to limit the use of reputational risk

Provided in the draft, the regulators are told to eliminate regulations that apply the concept of reputational risk when making decisions about banking. Critics add that it enables banks to become moral referees. The order seeks to avoid the situation where banks will use their reputation in a bid to refuse services.

It also instructs the Small Business Administration to investigate how banks treat people who inquire about SBA-backed loans. Any changes to the policies may affect thousands of small businesses.

The post White House targets banks over bias against crypto firms first appeared on Coinfea.

Phantom, the most popular Solana-based crypto wallet, has announced it has acquired Solsniper, a fast meme coin trading platform on the Solana blockchain. 

The transaction will be an essential part of Phantom’s transformation to a more generalized crypto infrastructure platform.

Phantom has officially acquired its original X (previously Twitter) account, regarding the vehementness and accuracy of Solsniper in tracking and trading tokens. The platform also provides real-time analytics and wallet monitoring, making it a hit with traders who are doing business in Solana’s fast-growing meme coin sector.

Phantom Expands Vision Beyond Wallet Services

Phantom came on stream in 2021 as an easy-to-use Solana wallet. Because of its design and protections, it soon shot to the top of the list of the most popular wallets. Subsequently, it added support to the Ethereum and Polygon networks. The company is currently going beyond its initial wallet product.

Through the acquisition, Phantom seeks to create a complete crypto stack. The company would not only target the asset holders but also active traders. The capacity to react to new token launches within seconds is possible when it comes to Solsniper, as it provides the kind of tools that are needed in a fast environment.

In February this year, Phantom secured a Series C investment of $150 million from Sequoia Capital and Paradigm. That capitalization placed the company’s market value at $3 billion and indicated a positive means of expanding its services.

Solsniper Will Continue to Operate Independently

Nevertheless, even after the integration, Solsniper will continue to exist as an independent platform. Phantom assured us that it would not close off or instantly combine Solsniper with its key application. However, existing users can use Solsniper with no modification.

Future updates and feature rollouts will likely be in the coming months. Phantom will improve on Solsniper in terms of the user experience that attracts active meme coin traders. The platform can be characterized by liquidity tracking, whale wallet tracking, and fast trade execution.

Strategic Moves Ahead of Meme Coin Market Growth

The meme coin market of Solana will develop rapidly in 2025—launchpads such as Pump. Fun have made it easier to create tokens and trade them. Pump. Fun had a recorded trading volume of more than 3 billion in January alone.

The increase has resulted in an increased demand for quicker, more efficient tools. Solsniper’s acquisition implies that Phantom is ready to tackle the needs. It also follows Phantom’s previous acquisition of SimpleHash, a cross-chain NFT and token metadata provider, in February. In combination, these acquisitions establish a Phantom-branded full-stack trading and data ecosystem.

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Qatar Financial Center has published a report discussing the future of digital assets, noting the need for a coordinated regulatory framework and multi-stakeholder cooperation to unlock the potential of real-world asset (RWA) tokenization in the future. The report notes that Qatar has plans to work on stablecoin implementation in the future.

The report, written in collaboration with Global Stratalogues and the Global Blockchain Business Council, gathers insight from experts on what will be needed to ensure a successful development of token ecosystems that are inclusive and ready for the future. To achieve this, they believe it hinges on cross-border regulatory alignment, strategic infrastructure investment, and public-private collaboration.

QFC releases report on global tokenization strategy

The findings also revealed that tokenization, when integrated within a straightforward policy framework, can expand market access, enhance financial inclusion, and deliver the best value across economies. The discussions in the report also highlighted that while regulatory alignment is emerging, it is still uneven as legal definitions and compliance requirements vary across jurisdictions.

The report also noted that infrastructure and interoperability should be prioritised and calls for institutional sandboxes and global standards. Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC, believes that tokenization can unlock real value by making assets more accessible and easier to transfer. “To realize this potential, we need a clear system that combines robust regulation, secure custody, and practical application. This will create a trusted environment that enables institutional adoption and drives sustainable market growth,” he said.

Qatar wants selective crypto adoption

Discussing the practical application of digital assets, Henk Hoogendoorn, QFC’s Chief Financial Sector, said, “Tokenization must serve a purpose. It should democratize access and create real-world value. Qatar is committed to making tokenization of real-world assets a success.” He also outlined Qatar’s approach to digital asset development, noting the country’s position on crypto restrictions. He noted that the official policy is that “Crypto is a no-go for now,” as previously stated by the QFC CEO during the Qatar Economic Forum this year.

Meanwhile, he added that there would be selective crypto adoption, likely beginning with stablecoins. In terms of regulatory coordination, Hoogendoorn explained that it would be a joint effort between the Qatar Central Risk Authority and the Central Bank of Qatar. Qatar has plans to incorporate tokenization into the investment sector in areas like private equity, Sharia-compliant digital asset mechanisms, and Murabaha structure automation, which would allow for secondary market liquidity through token trading.

The strategy is also expected to help venture capital with early exit opportunities for investors. Companies in the blockchain sphere have participated in Qatar’s Digital Asset Labs, including R3, SettleMint, and The Hashgraph Association. According to an announcement in 2025, The Hashgraph Association said they are exploring five use cases within the next 12 months, in the areas of equity tokenization, Sukuk Islamic Bonds tokenization, real estate tokenization, sustainability ESG Carbon credits, as well as consumer engagement and loyalty programs.

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Elon Musk has revealed that some senior engineers at Meta have moved to xAI without big compensation packages. The Tesla CEO predicted that in the long run, xAI could well exceed Meta in valuation, noting that the firm awards substantial raises to its top performers.

Elon Musk also added that most of the engineers at the company joined without premium entry-level packages, placing their faith in the growth potential of xAI. His comments came in response to an X post indicating that Meta approached upwards of 100 OpenAI employees and successfully onboarded at least ten in a “desperate move.”

Recently, Zuckerberg had also disclosed that Shengjia Zhao, the mind behind ChatGPT’s development, has taken on the role of chief scientist at Meta Superintelligence Labs. Reportedly, other candidates turned down Meta’s offers because they saw OpenAI as closer to true AGI, preferred the speed and flexibility of a smaller team, and didn’t want to work on ad-driven projects. In another post, the user said, “no AI lab matches xAI speed with a small team in just two years”.

Elon Musk discusses xAI as tech talent war intensifies

In its first year, xAI released ten new tools: two chatbots (Grok 2 and Grok Mini), an image generator called Aurora, the Grok Button for quick analysis, a mobile app, Grok 3 with DeepSearch, an uncensored voice mode, Grok 4, a companions feature, and the “Imagine” tool. The company’s growth has impressed observers as AI firms, including OpenAI, Google, and Meta, continue to battle it out to attract top tech researchers.

Meta has expanded its AI arm and earmarked $14 billion in funding for Scale AI. In June, Meta launched Superintelligence Labs as a research hub designed to assemble top experts in the domain. Sam Altman, OpenAI’s chief executive, has claimed that Meta dangled compensation packages reaching $100 million to lure his team, a claim Meta disputes.

According to WIRED, more than ten such recruitment offers were extended to OpenAI staff. In one case, a seasoned researcher was even tapped for a chief scientist position but opted not to accept. Moreover, any shares or stock options Meta promised to those new hires would become 100% theirs after one year on the job.

Anthropic co-founder Benjamin Mann discussed the move at a recent interview, noting that the firm’s employees remain unswayed by the lavish incentives. He added that Anthropic employees believe in what they are building at the company. According to a recent Cryptopolitan report, Meta and Microsoft saw their market cap climb by around $550 billion in a single day.

In early trades in Europe on Thursday, Meta’s shares surged 12.2% in Frankfurt and Microsoft’s advanced 9% following a modest pullback late Wednesday. That momentum helped push S&P 500 futures up 1% and Nasdaq futures by 1.3% ahead of the U.S. open. Meta surpassed second-quarter estimates, delivering earnings of $7.14 per share versus a $5.89 consensus, and generating $47.52 billion in revenue against the $44.83 billion forecast.

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July has been a month of speedy expansion on Ethena as USDe expanded its supply by 75 percent and reached an overall market cap of 9.69B. 

This has pushed the stablecoin ahead of SkyProtocol USDS in the ranking of stablecoin use, with a supply of USDe the third-largest.

The supply of USDe increased to a new record as Ethena’s model is the strongest during ETH rallies. | Source: DeFi Llama

USDe Supply Grows as ETH Price Rallies

USDe strengthened in July due to a shortage in March and April this year. The rise in the ETH prices allowed the stablecoin to grow as the market surpassed 3,800 at the height of the prices. Such a favorable market environment allowed Ethena’s earning formula to sustain a higher output.

More than 4 billion new USDe tokens were minted as a reaction to purchasing market conditions. Ethena had earlier been a conservative seller in the first half of 2025, when its price was below 2000 dollars. The current growth can be compared to a similar one that was observed at the end of 2024, when the market reached its peak in December.

The growth in stablecoins was an overall trend last month. The total supply of prominent stablecoins increased by $1.96B during the last week. Nowadays, the previous dominant tokens, such as those by Binance and FDUSD, are ranked below the De solution.

USDe Sees Strong Trading and Ecosystem Integration

USDe has been listed on multiple trading pairs at Curve Finance, such as USDC, FraxUSD, and mkUSD. Its rise in usage in centralized and decentralized exchanges has promoted it.

USDe trading is done on Bybit, which makes up more than 30 percent of the activity, and 20 percent is conducted on Uniswap V3. The reputation of USDe has grown, and the entity has been accepted by many of the DeFi protocols. It has now become one of the limited synthetic stablecoins nearing a 10B supply.

One of the most fantastic attractions for users is the possibility to stake the token. The staked product, sUSDe, trades at a premium and has gained popularity. It has now exceeded 5.22B of supply, and so there are around 4B of the USDe to circulate.

ENA Token Nears Recent Highs as Market Confidence Rises

The native currency of Ethena, ENA, has traded at around 0.60 in recent days, near its three-month high of 0.68 at the end of July. The price growth can be seen as the increasing belief in DeFi and enthusiasm towards the current bull market of 2025.

Another feature that attracts investors is the average growth rate of 8.85%, as presented by USDe. Such a yield would only be possible in the present favorable ETH conditions. At the beginning of July, the APY was only 3.51. Market conditions sometimes change, and in that case, Ethena may be forced to adjust the USDe supply accordingly.

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The banks of South Korea are also moving faster to partake in the world of cryptocurrency and stablecoins. 

Other expected changes in the law are driving big financial players to plan to offer digital assets.

Major Banks Form Crypto Divisions

Top banks such as Shinhan, Woori, KEB Hana, and KB Kookmin are forming internal crypto task forces. Virtual wallets, blockchain alliances, stablecoins, and custodial services are some of the services these teams are developing. Woori Bank has formed a  Digital Asset Team, which falls under the New Business Alliance Platform Department. It is a team that is dealing with research and the development of strategic crypto services.

Woori Bank is also reviving another initiative to provide custody services. It intends to enter into a business agreement with a company working on blockchain and create a consortium to facilitate its re-entry into the stablecoin business. This project was already underway in November of the previous year.

KB Kookmin and Shinhan Expand Preparations

KB Kookmin Bank has established a Digital Asset Response Council. The council also organizes a common digital asset management strategy among its affiliates, such as its arms in insurance, securities, and credit cards. It is also making efforts to forge relationships within the network and with outside companies.

Shinhan Bank has assembled a 20-man team to research and develop crypto services. Meanwhile, KB Kookmin is also filing trademark applications to reserve the names of stablecoins. It has registered 32 trademarks of stablecoins affiliated with the Korean won, plus 49 additional trademarks of coins of other currencies.

Government Reforms Drive Industry Momentum

The change in direction is a result of the country’s political change. President Lee Jae-Myung, the 11th elected president, will promote the growth of digital finance. During his reign, we began to see regulated crypto services emerge.

Some of the bills under consideration by the National Assembly include legalizing crypto-related services offered by banks. Such changes might legalize the issuance of stablecoins, custody platforms, and digital exchanges run by banks.

Industry leaders think it is the right time to act. An insider revealed to one of the top Korean outlets that the industry believes it will take time before a legal adjustment can occur. Companies are preparing early so that they will get a first-mover benefit once legislation is passed.

The regional banks are also involved. The Bank has introduced a team that works on digital assets. Busan Bank is investigating blockchain by having a special research team in place.

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Chinese mining pool Lubian has been fingered as the victim of a huge theft in late December 2020, with the platform losing 127,426 BTC. At the time of the theft, the tokens were worth about $3.5 billion, but at today’s prices, they are worth roughly $14.5 billion, making it the biggest crypto theft on record.

The breach was announced by blockchain firm Arkham. Meanwhile, no one at the Chinese mining firm or the group behind the theft has confirmed the breach. LuBian ranked among the top pools in 2020, handling nearly 6% of Bitcoin’s total computing power as of May. Its operations spanned across China and Iran.

Lubian loses $14.5 billion to hackers

On December 28, 2020, attackers emptied over 90 percent of LuBian’s holdings. The next day, roughly $6 million more, which was split between Bitcoin and USDT, vanished from a Lubian address on the Omni protocol. By December 31, LuBian moved its remaining balance into secured recovery wallets. Soon after, each hacker’s address received an embedded OP_RETURN note, begging for the return of stolen funds.

Despite the attack, the Chinese mining pool managed to keep about 11,886 BTC, which is worth around $1.35 billion today and has remained untouched. The hacker has also not interacted with the stolen coins, aside from moving them into a wallet in July 2024. Because Bitcoin’s price has climbed since 2020, the stolen coins now amount to $14.5 billion. On Arkham’s records, that stash places the culprit as the 13th-largest BTC holder, even ahead of the Mt. Gox hacker.

Chinese mining firm exploit surpasses Bybit’s $1.5 billion theft

The Chinese mining firm’s loss shattered the previous record, set by Bybit in February 2025, when it lost $1.5 billion in digital assets to hackers. About $1.46 billion worth of mETH and stETH streamed out to four Ethereum addresses, with parts swapped immediately on decentralized marketplaces.

On-chain investigator ZachXBT spotted the suspicious outflow, and firm Cyvers flagged odd activity from the exchange’s wallets. Bybit had earlier confronted an unrelated “address poisoning” attack. Most of the stolen tokens were swapped for ETH on decentralized exchanges and then run through mixers to hide them. It was one of the first big exchange hacks of 2025.

Bybit said the incident was a routine fund transfer between cold and hot wallets, but that hackers subverted the destination address. No internal breach of systems occurred, according to the company. Investigators had pinpointed five wallets involved in the attack. ZachXBT warned that all other exchanges and services should blacklist these addresses to prevent further losses.

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Anthropic has cut off OpenAI’s access to its Claude API. The move came after Anthropic discovered that OpenAI had violated its terms by accessing Anthropic’s tools using prohibited methods.

“Claude Code has become the go-to choice for coders everywhere, and so it was no surprise to learn OpenAI’s technical staff were also using our coding tools ahead of the launch of GPT-5. Unfortunately, this is a direct violation of our terms of service,” Christopher Nulty, an Anthropic spokesperson, said in a statement.

Under its commercial terms, Anthropic specifically states that customers may not develop another product or service, create their AI models using Anthropic’s platform, or attempt to dissect or copy its technology. This adjustment to Claude’s availability coincides with OpenAI’s internal preparations for GPT-5, the forthcoming model touted for enhanced coding capabilities.

Anthropic announces weekly usage cap on Claude codes

According to insiders, OpenAI integrated Claude into its proprietary toolchain via custom APIs rather than the usual chat portal. This arrangement enabled OpenAI to assess Claude’s performance on programming and writing tasks, and to evaluate its responses to safety-related queries regarding areas such as CSAM, self-harm, and defamatory content. The findings were then used to measure Claude against the in-house models of OpenAI and to tune OpenAI’s system accordingly.

Responding to the development, Hannah Wong, chief communications officer at OpenAI, said, “It’s industry standard to evaluate other AI systems to benchmark progress and improve safety. While we respect Anthropic’s decision to cut off our API access, it’s disappointing considering our API remains available to them.”

Nulty also added that granting API access for purposes like benchmarking and safety reviews is still important for the industry. The company is yet to clarify how the current restrictions on Claude might affect its ongoing evaluation. API restrictions have long been wielded as leverage in the tech sector. For instance, Facebook previously cut off Vine (owned by Twitter), and more recently, Salesforce imposed constraints on rival Slack integrations.

Anthropic recently revealed plans to introduce weekly caps on Claude Code to reduce continuous background consumption by users. The company said in an email and on X that the new limits will start on August 28. These restrictions will affect users on the $20 Pro tier as well as those on the $100 and $200 Max tiers. Existing five-hourly usage quotas will remain unchanged.

In addition, the update is expected to include two separate weekly quotas: a general usage cap and a model-specific allowance for Claude Opus 4. Max-tier subscribers will have the option to purchase additional capacity at Anthropic’s standard API pricing once they exceed the weekly thresholds. This adjustment builds on a subdued deployment of usage ceilings for Claude Code implemented earlier this summer.

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A scam targeting a crypto user causes him to lose 908,551 USDC. He becomes a victim of a delayed deposit that drains his mobile wallet due to a dubious approval that was signed 16 months earlier.

One crypto user lost 908,551 of their money in a sophisticated scam. The money was drained out of their wallet 16 months after unknowingly authorizing a malicious transaction. The stolen amount, which is in the form of the USD Coin (USDC), was cleared on August 2, 2025, but the swindle started with a signed authorization on April 30, 2024.

The victim approved a shady ERC-20 token, which was probably an airdrop scam or a bogus fancy site. This provided the fraudster with access to the user’s wallet; however, the theft happened more than a year later.

Scammer drains wallet 458 days after approval

The beneficiary of the money taken away by the hacker was the wallet address 0x67E5Ae with the label pink-drainer.eth. It was a breach that had happened on Aug 2, 4.57 AM UTC. On-chain information reveals that the smart contract acceptance occurred specifically 458 days ago, when the scammer could perform at a time when the wallet was containing high-value assets.

The timeline was verified by a cybersecurity company, Scam Sniffer, which stated that the attacker exploited a common phishing technique. The con artist took their time before taking action after the wallet had massive deposits.

Funds transferred before the theft occurred

On 2025-07-02, 8:41 PM UTC, the victim sent 762,397 USDC to the wallet with the address 0x6c0eB6 created in MetaMask. This was followed by a separate transaction of yet another $146,154, one hour and ten minutes later, to another Kraken exchange wallet to transfer funds to the same wallet.

The scammer followed these activities. Prior to July, only small amounts of transactions had been captured in the wallet, which is probably why it was below the radar until then. By the time the money was finally centralized, the attacker pounced and depleted the money.

Security experts urge users to manage token approvals

This case is another blow to the issue of the security of token approvals in the crypto world. At this, and almost every other step, Cam Sniffer cautioned users to watch and remove expired permissions frequently. They advised one to use applications such as the one by Etherscan, known as Token Approval check, to revoke unnecessary permissions.

Cancellation of token approvals has a gas charge, and experts caution that it is not a good bargain to save assets. In one month alone, July 2025, over 142 million dollars were stolen in 17 different attacks. The highest loss was in the crypto exchange CoinDCX. Many users are now demanding more protective measures. Meanwhile, the attacker’s identity is unknown.

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The price of bitcoin drops to under 113,000, and this has generated new purchases among the large investors. 

Market volatility persists, as a prominent Bitfinex whale is purchasing 300 BTC daily now through a Time-Weighted Average Price platform.

Bitfinex Whale Returns Amid Market Decline

The drop of 8.97% in bitcoin since its all-time high of 123091 in July has elicited the purchase action of long-term investors. Adam Back, the CEO of Blockstream and head of BSTR Holdings, has reported that a prominent trader on Bitfinex is once again buying bitcoin. This is because the whale is purchasing 300 BTC daily through a TWAP mechanism in an effort to minimize price impact by spreading out the orders.

Back noted that this buying trend has picked up in the past two days. He said that the buyer is possibly spending about 400 dollars a second to acquire Bitcoin. The movement of the activity was monitored via the BTCUSDLONGS indicator on Bitfinex, which indicated that margin long positions kept rising steadily. This indicates that the trader is taking BTC as collateral as s/he establishes a long position.

Bitcoin Leads Broader Crypto Market Correction

The present market correction has not come to the confines of Bitcoin. Ethereum has dropped almost 5 percent to the price of 3,460, whereas XRP and Solana have lost over 5 percent. The total trading volume has gone down by a total of 31.52 percent in the last 24 hours, which is evidence of general caution in the market.

Although the retreat is leaving some influential figures with little to be optimistic about, some still show optimism. Eric Trump has been telling investors on Twitter to buy the dips, which was also his response in February when the market dipped. His call agrees with the renewed accumulation of the whale, indicating that there are big players who believe that the present correction is an opportunity to buy.

Macroeconomic Pressure Intensifies Bearish Sentiment

Recent macro regionals have stirred up the current market weakness. In July, the U.S. job numbers were lower than expected, which heightened fears about the growth of economic activities. The unemployment rate currently stands at 4.2 percent, and recruiting is slowing down because of the increase in the cost of doing business.

The recent reinstatement of tariffs by the Trump administration has also put pressure on markets. Analysts suspect such policies have undermined investors’ faith and increased volatility in risk assets such as cryptocurrencies.

Luke Tilley, the chief economist at Wilmington Trust, has mentioned that the job market deceleration was predictable. He stated that companies are also dealing with increased working expenses as they have reduced the rate of employee recruitment. Regardless of that temporary decline, whales and other celebrities are still buying during the downturn.

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Tesla has been ordered to pay $234 million after the company was found partly liable for a 2019 Autopilot crash in Florida. The jury held the EV automaker 33% liable in the 2019 collision that killed one and injured another.

Tesla was hit with the judgment on Friday after a federal jury in Miami found the company partially responsible for the fatal crash involving its Autopilot driver assistance system. After the three-week-long trials, jurors deliberated less than a day before finding the company 33% liable for the collision. However, the driver was found 67% liable. The panel awarded $42.5 million in compensatory damages and $200 million in punitive damages against the company.

Tesla found partly liable by federal jurors

The crash occurred in the Florida Keys when a Tesla Model S, being driven by George McGee, failed to stop at a T intersection and collided with a parked Chevrolet Tahoe. The collision cost Naibel Benavides Leon her life, while her boyfriend, Dillon Angulo, was seriously hurt.

“This verdict represents justice for Naibel’s tragic death and Dillon’s lifelong injuries,” Brett Schreiber, the lead attorney for the victims, said in a statement. “It holds Tesla and Musk accountable for propping up the company’s trillion-dollar valuation with self-driving hype at the expense of human lives.”

Tesla has responded to the verdict, announcing its plan to appeal the verdict. “Today’s verdict is wrong and only works to set back automotive safety,” the company said in a statement. “We plan to appeal given the substantial errors of law and irregularities at trial.”

The trial saw several parties, including Tesla engineers, external analysts, and the driver George McGee, called up as witnesses. McGee claimed that he had already activated Autopilot while driving home from work and was distracted at the time of the crash. He said he had dropped his phone while on hold with American Airlines and was looking for it when the vehicle went off the road.

“I knew I was completely responsible for operating the car,” McGee told the jury. “But I expected Autopilot to assist me in the event I made a mistake. In that case, I do feel like it failed me.”

Meanwhile, Tesla’s legal team countered that the accident was entirely McGee’s fault, calling the court’s attention to the driver’s distraction and history of speeding. They pointed out that Autopilot requires the driver’s attention and readiness to take control at all times, even referring to the language in the owner’s manual and warnings displayed in the vehicle.

Data extracted from the Tesla showed that McGee had overridden the car’s adaptive cruise control by stepping on the accelerator to 17 miles per hour over the speed limit moments before the crash. Tesla maintained that Autopilot functioned as designed and no known defect contributed to the collision. The $243M verdict delivers a blow to Tesla’s courtroom track record, which previously included two favorable verdicts in California and multiple confidential settlements.

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