Digital Asset Manager ParaFi Raises $125 Million for Venture Fund

Benchmark raised Canaan's price target to $4 due to Nasdaq's compliance notification and increasing demand for its Bitcoin mining rigs, particularly the Avalon line. Canaan's stock traded 5.6% higher, with potential for a 118% jump to reach the target price.

Gold has surged to a new price record of $4,370, outperforming Bitcoin this year. Analysts believe gold's price action could indicate a positive future for Bitcoin, as central banks have been major purchasers of gold since 2022.

Canada's financial intelligence agency has fined cryptocurrency platform Cryptomus a record $126 million for failing to report suspicious transactions related to child exploitation, ransomware, and sanctions evasion. The firm, operating as Cryptomus, did not file over a thousand suspicious transaction reports and 1,500 large-value crypto transaction reports in July 2024.

At the Bitcoin Alpha “unconference” in Santa Monica, California, an art piece named “Bitcoinius Maximus” was unveiled, featuring a great white shark in a glass box. The sculpture, symbolizing Bitcoin's endurance, served as a backdrop for private discussions during the event.

Uncertainty looms over the crypto market as top assets fluctuate, with predictors on Myriad showing a swing towards bullish territory for Bitcoin and Ethereum. Traders are feeling more optimistic about Bitcoin's potential rise to $120K, while Ethereum's odds of reaching $4,500 have increased.

Revolut has obtained a MiCA license from CySEC, allowing it to offer crypto services across the EEA. The neobank may launch a stablecoin, pending further regulatory steps and compliance with MiCA standards.

Binance founder Changpeng Zhao, also known as "CZ," was pardoned by U.S. President Donald Trump after a plea bargain that led to his resignation and jail time for money laundering violations. The White House confirmed the pardon, citing the Biden Administration's aggressive stance on cryptocurrency.

Solana Company, a U.S.-listed firm, has partnered with staking providers Twinstake and Helius to expand its digital asset treasury operations, holding over 2.2 million SOL worth $396 million. The company shifted focus to become a Solana-focused treasury vehicle after its stock price collapse.

The U.S. crypto market structure is embroiled in a fierce battle between Democrats and Republicans, with both sides vying for control over digital asset regulations. The split is widening, leading to a lack of trust between the two camps.

Ledger has introduced the Ledger Nano Gen5, featuring artist Susan Kare's badges, aiming to redefine its brand beyond a hardware wallet provider. The company is rebranding its products as "signers" to clarify their role in managing crypto assets securely.