The proposed class action alleges BitMEX used privileged trading access and server freezes to profit from forced liquidations. BitMEX is facing a class action lawsuit accusing the crypto derivatives platform of fraudulently engineering customer liquidations to seize traders’ Bitcoin collateral. On Thursday, BKX Services Inc. and David Namdar filed the complaint in the US District Court for the Southern District of New York. The plaintiffs allege they lost a combined 622.66 BTC through forced liquidations on BitMEX, with BKX claiming losses of at least 305.81 BTC and Namdar alleging losses exceeding 316.85 BTC. The lawsuit revives long-running allegations about the platform’s internal trading operations and liquidation engine and comes just as the exchange is preparing to close in September. Read more
On Wednesday, Senate Republicans released the proposed text for the CLARITY Act, which has been met with pushback from Democrats regarding ethics provisions. Democratic Senator Ruben Gallego says he will be working with Republicans to come up with a counterproposal to White House-approved ethics provisions in the CLARITY Act, saying the draft released this week was “not a serious effort.” On Wednesday, Senate Republicans released the proposed text for the Digital Asset Market Clarity (CLARITY) Act, including language on ethics that would bar all US federal officials — including US President Donald Trump — from issuing or sponsoring any digital asset. Democrats said the ethics provisions fall short. “Whatever piece of shit they sent back to us, that was not a serious effort,” Senator Ruben Gallego told Politico on Thursday. Read more
BitMEX will have removed 65 derivative contracts and trading pairs in July, compared with just 19 across the first six months of the year. Crypto exchange BitMEX accelerated its delisting of derivative contracts and trading pairs in July due to “insufficient trading interest,” offering a glimpse at declining activity on the platform surrounding its decision to wind down the exchange. BitMEX’s website shows that in early July, it delisted 21 derivative contracts; two weeks later, BitMEX delisted nine spot pairs for lack of trading interest. On Thursday, BitMEX added another 35 derivative contracts to the queue for delisting, totaling 65 delistings in July. Related: BitMEX to shut down after 11 years in crypto derivatives Read more
Nasdaq, Cboe and the London Stock Exchange are among major exchanges moving toward longer trading hours. The US Securities and Exchange Commission is set to host a public roundtable in September to discuss moving toward 24-hour trading in US equity markets. “We are moving towards a new day – and night – in the US equity markets,” SEC Chair Paul Atkins said on Thursday. “With the expansion to overnight trading, I’m excited at the prospect of US equity markets aligning with those markets that already trade continuously.” Read more
The Bitcoin donation can be used to support Donald Trump as a New York court considers whether to reverse a $5 million settlement between the CFTC and Gemini. With a court set to consider a reversal of a $5 million settlement from the US Commodity Futures Trading Commission’s (CFTC’s) case with cryptocurrency exchange Gemini, the company has sent $10 million in Bitcoin (BTC) to a super political action committee (PAC) supporting President Donald Trump. According to the MAGA Inc. Super PAC’s July report to the Federal Election Commission (FEC) filed on Monday, the Gemini Trust Company run by co-founders Cameron and Tyler Winklevoss sent two separate contributions of more than $5 million in Bitcoin on June 19. The donation, which the PAC may use for independent expenditures to support Trump, was recorded about three weeks after the CFTC filed a joint motion with Gemini in federal court in an attempt to reverse a January 2025 settlement over the company allegedly making false or misleading statements. CFTC Chai...
The exchange also introduced AI trading tools and a developer kit as part of a broader push to build financial infrastructure for autonomous AI agents. Coinbase is expanding its push into AI-powered finance, enabling businesses to accept USDC payments from autonomous AI agents as part of a broader expansion of its payment, trading and developer tools. According to a Thursday X post, Coinbase Business users will be able to accept USDC (USDC) payments from AI agents through the x402 payment standard, which Coinbase first introduced in May 2025 to enable stablecoin payments over HTTP for AI agents, applications and APIs. The post also announced AI trading tools that let users monitor orders, access live market data, and execute actions based on predefined conditions, as well as a software development kit for developers building agent-powered applications. Read more
Bitcoin price forecasts diverge as US-Iran war tensions fueled an ongoing oil and bond-market surge, while July Fed rate-hike odds neared 40%. Bitcoin (BTC) fell below $65,000 on Thursday as US stocks slid amid another round of escalation in Iran. Key points: Data from TradingView showed BTC/USD hitting three-day lows of $64,799 on Bitstamp. Read more