As Brazil’s Pix system expands and BRICS eyes a reserve currency, Trump responds with a 50% tariff and a sweeping trade investigation. The United States has launched a formal investigation into Brazil’s digital trade practices, with a spotlight on Pix, the country’s instant payment system that has rapidly displaced private-sector competitors. The probe, announced on Tuesday by US Trade Representative Jamieson Greer, will examine whether Brazil’s digital and trade policies unfairly disadvantage US companies. Greer said the investigation will review Brazil’s “tariff and non-tariff barriers,” saying the country offers preferential treatment to other trade partners while disadvantaging US exporters. Read more
Outrage after ringleader of $1.8B DGCX fraud publicly mocks the intelligence of victims, and even the Infini hacker is long ETH! Asia Express Hong Kong police have arrested four individuals in connection with an alleged cryptocurrency investment ring that defrauded victims of over 3 million Hong Kong dollars. The operation was linked to a bogus platform posing as affiliated with the Dubai Gold and Commodities Exchange (DGCX). However, the alleged ringleader escaped and publicly mocked victims for their supposed lack of intelligence in falling for the scam. The arrests are part of a wider fallout from the collapse of the so-called DGCX XinKangJia platform in mainland China. On June 25, the platform abruptly froze withdrawals for its 2 million users. By the next day, it had gone completely offline. Marketed as the Chinese branch of the Dubai organization, XinKangJia promised investors 1% fixed daily returns on USDT-denominated investments in gold and oil. Before shutting down, the platform allegedly transferred...
DOGE gained 18% this week, and multiple data points suggest a 300% rally is possible before the end of 2025. Key takeaways: DOGE formed a double bottom after breaking a long-term downtrend, hinting at a rally to new year-to-date highs. DOGE’s futures open interest, spot volumes, and holders’ profit show rising demand and reduced sell pressure. Read more
The move follows SEC guidance treating staking rewards as income, enabling asset managers like Canary to back blockchain-based tokens through delegated staking. Investment company Canary Capital filed an S-1 application for a staked INJ (INJ) exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC) on Thursday. INJ is the governance, staking and utility token for the Injective Protocol, a layer-1 blockchain network focused on decentralized finance (DeFi) operations. One of the main objectives of the fund is to accrue staking rewards through providing validation services using an “approved staking platform,” the filing reads. Read more