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Block’s Builderbot automates 15% of production code changes
Engineers at Jack Dorsey’s Block are increasingly handing off routine development tasks to an internal AI system that now manages 1,500 pull requests every week. Known as Builderbot, this orchestration layer handles 15% of all production code changes, signaling a shift from simple AI code suggestions to autonomous system maintenance.
Satori Finance to shutter despite $134 billion in trading volume
Despite facilitating $134 billion in cumulative perpetual futures volume and securing $10 million in venture funding, decentralized exchange Satori Finance is closing its doors. The platform, which once served over 600,000 traders, cited prolonged unfavorable market conditions and insufficient revenue as the primary drivers behind the decision to wind down.
HyperFund promoter Bitcoin Rodney pleads guilty in $1.8B fraud case
Rodney Burton, the Florida influencer known online as Bitcoin Rodney, has pleaded guilty to operating an unlicensed money-transmitting business tied to the $1.8 billion HyperFund crypto scheme. Prosecutors allege he pocketed at least $7.8 million while marketing the platform to investors with false promises of lucrative mining returns.
Judge Denies Bid to Dismiss FTX-Linked Campaign Finance Charges
A federal judge in Manhattan has cleared the way for the trial of Michelle Bond, rejecting her motion to dismiss criminal charges tied to her 2022 congressional bid. Judge George Daniels dismissed Bond’s argument that her partner, former FTX executive Ryan Salame, had secured immunity for her during his own plea negotiations.
Ark Invest Shifts Fintech Portfolio, Adding Coinbase and Cutting Robinhood
Cathie Wood’s Ark Invest moved to consolidate its fintech holdings on Wednesday, acquiring 111,799 shares of Coinbase Global valued at $18.4 million. The firm simultaneously trimmed its exposure to Robinhood Markets, offloading shares worth nearly $29 million despite the brokerage’s recent performance gains in prediction markets.
Grayscale models AAVE fair value at $175 on real-world asset growth
Grayscale Research argues that AAVE is currently undervalued, projecting a potential fair value of $175 within a year. The firm’s assessment hinges on the integration of tokenized real-world assets into decentralized finance, moving away from viewing the token purely as a commodity and toward a traditional cash-flow model.
Suntera Global Appoints Chris Marquis to Lead Private Wealth Division
With over two decades of experience navigating the trust and fiduciary landscapes of Europe and Asia, industry veteran Chris Marquis joins Suntera Global as the new global head of private wealth. Based in the UK, he now takes a seat on the firm’s executive committee to oversee international expansion.
CME Group Challenges CFTC Over Crypto Perpetual Futures Approval
CME Group is preparing to sue the Commodity Futures Trading Commission, escalating a fight over the regulatory classification of crypto perpetual futures. Outgoing CEO Terrence Duffy contends the agency bypassed proper legal channels by approving these derivatives as standard futures contracts rather than swaps under the Dodd-Frank Act.
James Charlton Joins Quilter Cheviot to Lead Liverpool Growth
After nearly two decades navigating the high-net-worth landscape, James Charlton has joined Quilter Cheviot as an investment manager in Liverpool. The veteran advisor, formerly of Barclays Private Bank, steps into the role to oversee tailored portfolios for business owners and executives under the leadership of Nigel Hibbert.
Kamran Djavadi Joins Azura Partners as Group COO
Kamran Djavadi, a seasoned banking veteran with experience at Barclays, HSBC, and CMB, has been named group chief operating officer at Azura Partners. Based in the firm's Monaco headquarters, he will report directly to founder and CEO Ali Jamal as the company looks to scale its global wealth management operations.
BNP Paribas and M&G Expand Investment Product Lineups
BNP Paribas has introduced its THEAM Quant Transatlantic Target Premium fund to core European markets, while M&G Investments is taking its global value strategy international with the launch of a new Luxembourg-domiciled fund, signaling a broader push to capture investor demand for diversified, systematic income.
Rathbones to Buy Back £20 Million in Stock After Compliance Shake-up
A 16 percent share price drop forced Rathbones to announce a £20 million stock buyback program this week, following the wealth manager’s decision to halt inflows from clients requiring enhanced due diligence. The firm faces £60 million in net costs linked to compliance failures identified during a regulatory review.
Fasanara Capital Enters US Market with New New York Hub
London-based asset manager Fasanara Capital has established its first American presence, securing space in Manhattan’s Rockefeller Center. The firm, which specializes in alternative credit and fintech-driven financing, aims to leverage this base to deepen ties with North American institutional investors, family offices, and strategic wealth platforms.
Tether sunsets Alloy platform to prioritize gold-backed XAUT
Tether is shuttering Alloy and its associated aUSDT stablecoin, citing a pivot toward products with higher liquidity and broader market demand. The move concludes a brief experiment in gold-collateralized lending that launched just last June, signaling a sharper focus on the company's core digital gold offerings.
France Mandates Quantum-Resistant Encryption by 2027
France’s cybersecurity agency, ANSSI, has set a 2027 deadline for certifying security products, effectively forcing vendors to adopt quantum-resistant encryption. This move shifts post-quantum security from a theoretical advisory into a mandatory procurement requirement for government bodies and critical infrastructure operators, narrowing the window for suppliers to finalize their technical roadmaps.
Kentucky Challenges Prediction Markets Over Sports Betting Laws
Kentucky Attorney General Russell Coleman has launched a legal offensive against Kalshi and Polymarket, filing lawsuits in Franklin Circuit Court that characterize the platforms' event-based prediction contracts as unlicensed, illegal sportsbooks operating in direct violation of the state's stringent gaming regulations.
Ro Khanna Defies Tech Donors Over Proposed California Wealth Tax
Silicon Valley powerbrokers are threatening to bankroll a primary challenge against Rep. Ro Khanna after the congressman doubled down on his support for a state-level wealth tax. The move follows reports that high-profile tech figures may exit California if the ballot measure, designed to recoup Medicaid funding, gains traction.
Newsom Faces Backlash Over Opposition to California Billionaire Tax
California Governor Gavin Newsom has vowed to block a proposed wealth tax on the state’s richest individuals, sparking fierce condemnation from progressives who argue the move aligns him with conservative plutocrats rather than the working-class base the Democratic Party must prioritize to secure future electoral victories.
California Wealth Tax Initiative Clears Signature Hurdle
The California Billionaire Tax coalition has submitted over 1.5 million signatures to state officials, nearly doubling the requirement to place a wealth tax initiative on the November ballot. This move sets the stage for a high-stakes showdown over a one-time 5% levy on the state’s wealthiest residents.
Progressive Groups Join Newsom in Campaign Against Billionaire Tax
A proposed California ballot initiative to tax the state's wealthiest residents has created an unlikely political alliance, pitting labor unions and progressive activists against the very billionaires they seek to target. Governor Gavin Newsom and several prominent healthcare and education organizations are now leading the opposition to the measure.
Bernie Sanders Backs California Billionaire Tax Amid Newsom Opposition
A sharp political divide has emerged in California over a proposed ballot initiative that would levy a one-time 5% tax on the state’s roughly 200 billionaires. While U.S. Senator Bernie Sanders championed the measure as a national model, Governor Gavin Newsom is actively raising funds to defeat the campaign.
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Kalshi fuels billion-dollar battle over US sports betting regulation
A powerful coalition of gaming and tribal groups is urging the US Senate to block sports-related prediction contracts via the CLARITY Act. The pushback follows Kalshi’s massive surge in trading volume, igniting a high-stakes jurisdictional clash between federal commodities regulators and established state-level gambling authorities.
Crypto markets stay muted despite looming U.S.-Iran agreement
President Donald Trump signaled a potential U.S.-Iran deal could be signed as early as tomorrow, yet the cryptocurrency market remains unmoved. Total market capitalization has slipped nearly 2% to $2.21 trillion, as traders prioritize persistent macroeconomic headwinds over shifting geopolitical tides in the Middle East.
US and Iran Move to End Conflict With 14-Point Agreement
With the death toll from the US-Israeli campaign against Iran climbing into the thousands, the Trump administration has released a memorandum of understanding aimed at ending military operations. The deal mandates an immediate ceasefire, a $300 billion reconstruction fund, and a path toward lifting long-standing economic sanctions.
Binance pivots to France as Greek regulatory bid collapses
European Central Bank President Christine Lagarde reportedly intervened to derail Binance’s licensing bid in Greece, forcing the world’s largest crypto exchange to scramble for a last-minute regulatory lifeline in France before the European Union’s June 30 deadline for the Markets in Crypto-Assets (MiCA) framework.
US Public Support for Israel Hits Historic Lows
A sharp erosion of sentiment toward Israel is sweeping across the American electorate, with recent polling data revealing a double-digit decline in favorability since 2023. The shift is most pronounced among Democrats and independent voters, signaling a fundamental realignment in how the public views the nation's long-standing ally.
Bipartisan Bill Risks Broad Censure of Pro-Palestinian Speech
A new congressional proposal backed by the Anti-Defamation League aims to pressure social media giants into policing content under the guise of counter-terrorism. Critics warn the measure, titled the STOP HATE Act, provides a dangerous mechanism for the federal government to stifle legitimate political dissent regarding Israel’s policies.
US Sanctions Palestinian Rights Groups Over ICC Cooperation
The Trump administration has imposed sanctions on three prominent Palestinian human rights organizations, accusing them of facilitating International Criminal Court efforts to investigate Israeli officials. The move targets Al-Haq, the Palestinian Center for Human Rights, and the Al Mezan Center for Human Rights for their role in documenting alleged war crimes.
Israeli Human Rights Groups Label Gaza Assault a Genocide
For the first time since the war began, two prominent Israeli human rights organizations have officially classified their nation’s military campaign in Gaza as genocide. The move by B’Tselem and Physicians for Human Rights-Israel breaks a domestic silence, aligning their assessment with earlier conclusions reached by international bodies.
Ro Khanna Breaks With AIPAC in New 'Peace Pledge'
Representative Ro Khanna has become the first member of the U.S. Congress to sign a formal peace pledge, vowing to reject campaign contributions from the American Israel Public Affairs Committee and to actively oppose U.S. military support for nations implicated in documented human rights violations.