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Robinhood Targets Seed-Stage Startups with $200 Million Venture Fund
Retail investors gain unprecedented access to early-stage startups as Robinhood files for its second public venture fund, RVII. Seeking to raise $200 million, the platform pivots from the late-stage holdings of its predecessor toward a portfolio heavily concentrated on companies linked to the Y Combinator accelerator.
Crypto PACs Secure Primary Wins in Michigan and Washington
Crypto-backed political action committees have cemented their influence in the 2026 midterms, funneling hundreds of thousands of dollars into primary races across Michigan and Washington. The sustained spending spree by Fairshake and its affiliates has successfully propelled a slate of pro-industry congressional candidates toward the November general election.
Upbit Adds GRVT Trading Pairs Across Three Major Markets
South Korean crypto exchange Upbit announced on Aug. 5 that it will list the GRVT token against the Korean won, Bitcoin, and Tether. The move aims to increase liquidity for the ZKsync-based platform's native asset, which has already seen a 23% price climb ahead of the scheduled 17:00 KST market opening.
Russian Crypto Legalization Meets Public Indifference
Sixty-nine percent of Russians see no practical use for cryptocurrency, even as the government prepares to launch a regulated digital asset market. Despite the formalization of the sector, most citizens remain skeptical, citing a lack of utility and widespread confusion regarding the new legislative framework.
Senators weigh curbing CFTC powers over sports betting markets
Tribal gaming leaders are pressuring Congress to protect local control over sports betting, arguing that prediction markets should remain under state and tribal jurisdiction rather than falling under the Commodity Futures Trading Commission. The push comes as lawmakers search for a legislative vehicle to clarify the limits of federal oversight.
FNZ Sheds German Banking Unit to Focus on Tech Platform
London-based wealth management platform FNZ has agreed to sell its German banking subsidiary to a consortium led by US private equity firm Advent International. The divestment signals a strategic pivot for the group, allowing the firm to concentrate exclusively on its global wealth technology infrastructure and large-scale institutional services.
OECD Criticizes US Transparency Standards Amid Compliance Deficiencies
Despite a "Largely Compliant" rating from the OECD, the United States faces sharp scrutiny over its beneficial ownership disclosure rules. David Wallace Wilson, a partner at Schellenberg Wittmer, suggests that while the organization’s recent 263-page report is critical of American gaps in reporting, an immediate ratings downgrade remains unlikely.
Mourant Secures MML Capital Investment to Fuel AI and Talent Growth
London-based private equity house MML has acquired a minority stake in Mourant, marking another shift as professional services firms increasingly turn to outside capital. The advisory firm, which operates across nine global financial centers, plans to channel the undisclosed funding into AI systems and long-term career development programs.
Pacific Asset Management Buys Activist Investor AVI
London-based Pacific Asset Management has acquired Asset Value Investors, an activist firm managing £2.1 billion. The deal integrates AVI into the infrastructure of Pacific, which is owned by Australia's Pinnacle Investment Management, while allowing the boutique manager to maintain its independent brand and bottom-up investment strategy.
Cloudflare Launches Identity Layer for AI Agent Payments
Cloudflare has opened registration for custom wallet handles, marking the first step in a broader strategy to facilitate stablecoin payments for autonomous AI agents. While users can now secure their digital identities, the underlying infrastructure for funding and automated transactions remains under development with no confirmed launch date.
Leadership Shifts Across Alltrust, Hawksford and Aventur
The wealth management sector sees a fresh wave of executive movement this week, with Alltrust, Hawksford, and Aventur securing new talent to bolster their legal, business development, and private office capabilities across the UK, Brazil, and international markets.
Strategy and MARA Bitcoin Transfers Spark Market Scrutiny
A wallet linked to Strategy moved 1,030 Bitcoin on August 5, prompting market speculation just days after the company disclosed a significant asset liquidation. Simultaneously, mining firm MARA transferred 6,000 Bitcoin to investment firm Two Prime, fueling debate over whether these movements represent institutional sell-offs or routine treasury management.
Proof of Play Shuts Down After Failing to Scale Web3 Gaming
Proof of Play, the blockchain gaming studio backed by a16z, announced it will cease operations after failing to build a sustainable commercial model. The closure marks a significant setback for the studio, which raised $33 million in 2023 to pioneer onchain gaming through its flagship title, Pirate Nation.
Bitwise: Crypto Industry Growth Remains Resilient Without CLARITY Act
The crypto industry will continue its expansion regardless of whether the U.S. Senate passes the CLARITY Act before the upcoming recess. Bitwise Chief Investment Officer Matt Hougan argues that while the legislation remains stalled in procedural limbo, alternative paths for regulatory clarity are already emerging through the Securities and Exchange Commission.
Missouri Trio Charged in Connecticut Bitcoin Home Invasion Plot
Three St. Louis men traveled to Connecticut armed with air rifles and walkie-talkies, allegedly surveilling a family’s home for two days to force a Bitcoin transfer. Federal prosecutors now charge Sedric Louis, John Davis, and Martel Williams with conspiracy to commit a Hobbs Act robbery, an offense carrying up to 20 years.
Western Union pivots to stablecoin spending with new Visa card
Western Union has launched a Visa-backed card enabling customers to spend its proprietary USDPT stablecoin directly at 175 million merchant locations. The rollout, powered by infrastructure firm Rain, arrives as the remittance giant seeks to offset declines in its traditional retail business by accelerating its digital service expansion.
Polymarket Eyes $20 Billion Valuation in New Funding Round
Polymarket has entered preliminary discussions with investors to raise roughly $1 billion, a move that would push the prediction market’s valuation past the $20 billion threshold. The talks, first reported by Bloomberg, signal an aggressive expansion strategy as the firm navigates a complex regulatory landscape and stiff competition.
Arthur Hayes bets on AI credit crunch to fuel Bitcoin bull run
BitMEX cofounder Arthur Hayes is positioning Bitcoin as the ultimate hedge against a potential AI-induced credit collapse. In his latest essay, "Situationship," Hayes argues that the massive capital expenditure currently pouring into data centers mirrors the 2008 real estate bubble, creating a fragile debt-laden foundation rather than a simple equity market correction.
Padilla Proposes Ban on Paid Early Access to Presidential Social Media
Senator Alex Padilla introduced the Stop Corrupt Trading Act on Tuesday to prevent President Donald Trump, Vice President JD Vance, and future officeholders from selling exclusive, advance access to social media posts that could influence financial markets, labeling the practice a systemic abuse of public office for private enrichment.
Supreme Court Extends Mifepristone Access Amid Ongoing Legal Battle
Justice Samuel Alito extended a stay until Thursday evening, temporarily preserving access to mifepristone by mail and telehealth. While the ruling offers immediate relief for patients, reproductive rights advocates warn that the reprieve is fragile and underscores a broader, persistent campaign against medication abortion access across the United States.
Susan Collins Breaks With GOP Over Todd Blanche Nomination
Facing a challenging reelection campaign in Maine, Republican Senator Susan Collins announced Tuesday that she will oppose the confirmation of Todd Blanche as attorney general. Her break from the party line comes as the nominee faces intense scrutiny over his stated plans to restrict abortion access nationwide.
Platner Escalates Attack on Collins Over Reproductive Rights Record
Democratic challenger Graham Platner is targeting Republican Senator Susan Collins for her absence from key reproductive healthcare hearings, marking a sharp escalation in his Maine campaign. The criticism follows revelations that the five-term senator has consistently skipped Senate committee meetings focused on abortion since the Supreme Court overturned Roe v. Wade.
US and UK Align Stablecoin Standards Amid Regulatory Shift
Financial regulators from Washington and London have intensified collaboration on digital asset oversight, signaling a push for policy convergence as the United States transitions toward implementing the GENIUS Act. The 13th UK-US Financial Regulatory Working Group meeting in London focused on harmonizing stablecoin frameworks and cross-border market access.
Senators Press CFTC to Ban Betting on Destructive Wildfires
A coalition of Democratic senators is demanding that federal regulators prohibit prediction markets from offering financial contracts tied to wildfires. The lawmakers warn that wagering on extreme weather events creates perverse incentives, potentially encouraging arson and commodifying human suffering during disasters that have already claimed dozens of lives.
SpaceX Bets on NVIDIA Vera Rubin for Orbital AI Constellation
SpaceX has tapped NVIDIA to power Starmind, an ambitious orbital network designed to process artificial intelligence workloads directly in space. The partnership centers on the Vera Rubin platform, a hardware suite engineered to handle the extreme power and weight constraints of satellite operations while delivering massive compute capacity.
A presidential memecoin stalls the US crypto bill
The Digital Asset Market Clarity Act, intended to provide the industry with long-awaited regulatory guardrails, has hit a political wall. The legislation remains frozen in Congress as lawmakers clash over whether to include ethics provisions that would restrict the president from profiting from his own crypto token while in office.
Senate Democrats threaten to block CLARITY Act over policy disputes
Senate Democrats are signaling a refusal to support a cloture vote on the CLARITY Act, jeopardizing the bill’s path forward. Lawmakers demand concrete concessions on ethics, illicit finance, and stablecoin yield provisions, effectively stalling the legislation as the window for action narrows before the upcoming August recess.
SpaceX’s Bitcoin Bet Overshadows Record Earnings
SpaceX’s first public earnings report revealed a $540 million loss on its bitcoin holdings, a figure that effectively neutralized the company's strong operational performance. While revenue soared to $7.8 billion—surpassing Wall Street expectations by $900 million—the massive crypto write-down forced a revaluation of the stock by nervous investors.
CLARITY Act stalls as Senate prioritizes government funding
With the August recess looming, the Digital Asset Market Clarity Act (H.R. 3633) failed to secure a spot on the Senate’s Tuesday agenda. The omission leaves the bill without a necessary cloture motion, forcing the crypto industry to wait as leadership prioritizes a continuing resolution to fund the government.
Campaigners Press UN to Secure Trillions in Global Tax Treaty Talks
As negotiators gather in New York for the fifth round of UN tax treaty talks, economic justice advocates warn that current draft language risks failing to capture trillions in potential revenue. Campaigners argue that without stronger provisions, the treaty will miss a historic chance to curb corporate excess and climate damage.