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Did You Get an IRS Crypto Compliance Letter? It Probably Isn’t Real
- Scammers are mailing fake IRS letters directing crypto holders to a bogus compliance portal.
- The letters carry QR codes leading to a fake IRS website.
- Chainalysis says impersonation scams surged 1,400% as crypto fraud hit $17 billion.
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The Web’s Missing Payment Primitive Didn’t Need Better Tech, It Needed to Ditch Humans
- Micropayments died since the 1990s on cognition, not technology.
- x402 removes the human, not the friction, from the decision.
- Average x402 payment is 32 cents, not a fraction of a cent.
Why Is The Crypto Market Down Today?
- Money rotated out of crypto into S&P 500 as July nears completion
- Strategy said it will keep selling Bitcoin, a fresh weight on sentiment
- MemeCore fell 10% but still holds a 24% monthly gain
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CXMT Stock Jumps Another 9%: What the Chipmaker Means for the AI Race
- CXMT shares jumped 8.95% Friday, its fifth session since a record Shanghai debut.
- The chipmaker is now worth roughly 3.54 trillion yuan, or about $523 billion.
- CXMT could ease a global memory chip shortage tied to the AI data center boom.
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Bitcoin Miner IREN Stock Surges 30% After CEO Says Demand Outstrips Supply
- IREN stock climbed 30% on July 30 after a wave of short-covering.
- Co-CEO Daniel Roberts said 85% of its $4B 2026 target is signed.
- New contracts include prepayments covering 45% of GPU capital costs.
KOSPI Snaps Back 15% as Asia’s AI Chip Rally Returns
- KOSPI surged 15% to over 6,440, triggering a buy-side sidecar after notable crashes.
- SK Hynix jumped 27.69% and Samsung 21.74% amid Big Tech earnings.
- Japan's stocks rallied too, with Advantest up 17.92% and SoftBank gaining 15.12%.
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Stablecoin Banking Competition Expands Beyond Settlement
- Stablecoins are gaining ground across payments, payroll, business transfers and settlement.
- Card issuance, foreign exchange, compliance and account management offer providers greater revenue opportunities and stronger customer relationships.
- Stablecoin neobanks face growing responsibility as they combine payments, yield, credit and trading within one product.
Apple Beats Earnings but Services, China Disappoint. How Should Stock Traders Position?
- Apple posted record June quarter revenue of $109.4 billion, yet shares slipped.
- Tariff refunds added $0.11 to EPS and roughly 2 points of margin.
- Services grew 12% but landed under estimates, while Mac revenue jumped 29%.
