When mining got tough, these firms chased AI dreams. Here’s how it panned out. Bitcoin miners turned to the rising AI trend ahead of the 2024 halving, which cut block rewards to 3.125 Bitcoin (BTC). Some just dipped their toes in, while others dove deeper, repurposing rigs, raising credit and signing billion-dollar deals. But how’s that spinoff working out in reality? In some instances, the move has been a lifeline that generates much-needed revenue as their Bitcoin earnings dropped. For others, it’s more of a safety net that can cushion future halving shocks. Read more
JPMorgan’s blockchain lead says merging TradFi with DeFi is accelerating, as the bank’s pilot with Chainlink and Base shows traditional institutions moving onchain. The divide between decentralized finance (DeFi) and traditional finance (TradFi) could disappear within the next few years, according to Nelli Zaltsman, head of blockchain payments innovation at JPMorgan’s Kinexys. Speaking alongside Chainlink Labs co-founder Sergey Nazarov at the RWA Summit Cannes 2025, Zaltsman said JPMorgan is pushing to merge institutional-grade payments infrastructure with emerging onchain assets, signaling what could be a tipping point for mainstream blockchain adoption. “Our goal has always been to find the best way to work with the public blockchain, regulatory environment permitting,” said Zaltsman. She described JPMorgan’s blockchain strategy as “asset agnostic,” aiming to give clients real-time access to multiple networks while minimizing friction. Read more
Hong Kong prepares third batch of tokenized bonds and unveils a sweeping digital asset strategy to solidify its role as Asia’s crypto finance leader. Hong Kong plans to expand its tokenized bond program, as the government prepares a third batch of tokenized green bonds and signals intentions to make such issuances a regular feature of its debt strategy. Speaking at the Hong Kong Digital Finance Awards 2025, Secretary for Financial Services and the Treasury Christopher Hui confirmed that the government’s upcoming tokenized bond sale builds on the success of two earlier rounds of tokenized green bonds issued in 2023 and 2024. The bonds were recorded and settled on distributed ledger technology, according to a Thursday report from Beijing state-owned newspaper Wen wei Po. Read more
Galaxy Digital warns Robinhood’s plan to tokenize stocks on its new chain could divert liquidity from NYSE and other major exchanges. Robinhood’s plan to tokenize stocks on its new Ethereum-compatible blockchain could shift trading volume away from traditional exchanges like the NYSE, undermining their core revenues from trading fees and market data, according to Galaxy Digital. At the EthCC conference this week, Robinhood CEO Vlad Tenev detailed plans for “Robinhood Chain,” an Ethereum-compatible layer-2 on Arbitrum Orbit. The blockchain will let users trade tokenized derivatives of stocks directly onchain, moving asset trading outside traditional exchange hours. Tenev explained that a new token engine operating on the Robinhood Chain will provide users with tokenized derivatives of their assets, enabling them to self-custody these tokens or interact with a decentralized application. Read more
The CEO of OKX says that "false positives" are among the biggest challenges the crypto exchange faces in ensuring global compliance. OKX founder and CEO Star Xu has apologized to users after reports surfaced of wrongful account freezes on the crypto exchange, including one case where a user remained locked out of their funds despite completing extensive verification steps. “We sincerely apologize for any inconvenience caused. We acknowledge that issues such as high false-positive rates and suboptimal user experience in the information collection process still exist during compliance and risk control operations,” Xu said in a post on Friday. “One of the biggest challenges in global compliance is ‘false positives’—where the system mistakenly flags normal users as risky,” Xu said. Read more
The Coinbase executive says he is “speculating on straws,” but if it is true, it would be “by far the largest heist in human history.” Conor Grogan, Coinbase’s head of product, says there’s a slight chance the $8.6 billion worth of Bitcoin moved on Thursday — from eight wallets that had held the Bitcoin for over 14 years — was caused by a hack, and if so, it could be the largest robbery ever. “If true (again, I’m speculating on straws here), this would be by far the largest heist in human history,” Grogan said in an X post on Friday, after raising the slim chance that the $8.6 billion worth of Bitcoin (BTC) moved from eight separate wallets was the work of bad actors. “There is a small possibility that the $8B in BTC that recently woke up were hacked or compromised private keys,” Grogan said, pointing out a suspicious Bitcoin Cash (BCH) transaction made before the significant transfers on Thursday involving 10,000 Bitcoin at a time. Read more