News linked to both this project and an event.
Odaily Planet Daily reported that Lorenzo Valente, Head of Digital Asset Research at investment firm ARK Invest, stated that Hyperliquid is in discussions with the CFTC and SEC to facilitate the offering of perpetual futures on its public chain by U.S.-regulated companies. He suggested that Hyperliquid acquire Gemini to position it as a U.S.-regulated HIP-3/4 deployer. He noted that Gemini's current market value is approximately $450 million, representing a decline of over 85% from its $3.3 billion valuation at the time of its 2025 IPO. Hyperliquid could obtain Gemini's entire U.S. regulatory infrastructure—including the NYDFS Trust Charter, DCM, DCO, FCM, MTLs, and Broker-dealer—for approximately $450 million.He further proposed that Hyperliquid could use approximately 7.9 million HYPE tokens from its community reserve, valued at around $550 million at $70 per token, to complete the acquisition at a premium of roughly 20% over Gemini's current market value. Following the transaction, Gemini would handle KYC, custody, fiat on/off ramps, brokerage, clearing, and compliance for the U.S. market, while Hyperliquid L1 would provide the underlying market infrastructure, liquidity, and on-chain settlement. He cited Polymarket's acquisition of QCEX as a similar precedent for re-entering the U.S. market, and stated that the core of this potential deal is not acquiring an exchange, but rather securing the regulatory bridge for HIP-3/4 to enter the U.S. market.
US President Donald Trump joined executives from crypto companies such as Coinbase and Gemini to urge the Senate to pass the CLARITY Act, which was passed by the House of Representatives in July 2025 but has stalled in the Senate.
Odaily Odaily News: The White House plans to host a tech industry leaders event with Trump tomorrow, with multiple tech industry leaders expected to attend. According to White House sources, prediction market companies were not invited to this event and will not be present. Previously, sources familiar with the matter revealed that President Trump is expected to attend a crypto industry innovation meeting to be held at the White House next week, engaging in discussions with executives from multiple crypto companies as well as heads of prediction market and AI firms. Executives from companies such as Coinbase, Ripple, Gemini, Robinhood, Polymarket, and Kalshi are expected to participate and serve as members of the newly established Innovation Advisory Committee under the U.S. Commodity Futures Trading Commission. The meeting is expected to be held at the Eisenhower Executive Office Building next to the White House, discussing U.S. policies on innovation areas including fintech, crypto assets, prediction markets, and AI. CFTC Chairman Mike Selig and other government advisors are also expected to attend, and Treasury Secretary Bessent and Commerce Secretary Lutnick may also be present.
Odaily News, Tornado Cash founder Roman Storm stated that if the logic behind the U.S. Department of Justice's (DOJ) case against him holds, tech companies Google and OpenAI should also be held liable for North Korean hackers abusing their products. Those involved reportedly used ChatGPT to write code and Google Gemini for forgery and image manipulation. Storm was convicted in August 2025 of conspiracy to operate an unlicensed money-transmitting business. He pointed out that the Tornado Cash case could set a legal precedent where software developers are penalized for criminal acts committed by users, emphasizing that criminals should be held accountable rather than the developers of tools. The CLARITY Act for digital asset markets is intended to provide protections for software developers by distinguishing developer liability from the potential misuse of protocols for illegal activities. However, although a final motion for consideration of the bill has been scheduled for a vote, its current chances of passage remain low. (Bitcoin News)
Bloomberg reported that crypto trading platform Gemini Space Station Inc. announced that following its listing last year, the company has recorded losses for the fourth consecutive quarter. The net loss for the second quarter was $107.7 million, equivalent to a loss of $0.89 per share, higher than the average expectation of analysts surveyed by Bloomberg; the net loss for the same period last year was $133 million. Revenue for the same period increased by 37% year-on-year to $45.5 million, exceeding market expectations.
According to The Block, the New York City Council has launched an investigation into four prediction market platforms—Kalshi, Polymarket, Coinbase, and Gemini Titan—alleging they employed "false, deceptive, or abusive" marketing tactics targeting young users. Among them, Polymarket was accused of paying social media creators to film videos placing fake bets on counterfeit websites, an incident first disclosed by The Wall Street Journal in June this year. Additionally, prediction market platforms face insider trading allegations; New York Governor Kathy Hochul signed an executive order in April prohibiting state government employees from using confidential government information to place bets on prediction markets.
据 Cointelegraph 报道，网络安全公司 BCA LTD 创始人 Mauro Eldritch与 Telefónica Tech 网络威胁情报分析师 Heiner García 联合搭建虚假加密初创公司"Ballena Azul"，成功诱使疑似朝鲜 IT 工人在受控虚拟桌面环境中工作长达五周，并全程监控其行为。 调查显示，相关工人使用的外部服务器与此前分发 InvisibleFerret、BeaverTail及 OtterCookie 等恶意软件的朝鲜网络行动基础设施存在关联；工人还大量依赖 ChatGPT 辅助编程、Google Gemini 伪造身份文件。研究人员指出，朝鲜 IT 工人通过伪造美国身份获取远程工作，所得薪资最终流向平壤政权的大规模杀伤性武器项目，美国财政部数据显示，此类计划 2024 年为朝鲜创收近 8 亿美元。
Odaily News - Karia Samaroo, founder and former CEO of Canadian crypto company WonderFi, recently stated that the company's acquisition by US trading platform Robinhood Markets for CAD 250 million was not due to a lack of growth potential, but rather because Canada's market environment has restricted local tech companies from continuing to scale.Samaroo said that WonderFi was founded in 2021. After several years of development, the company consolidated Canada's fragmented crypto market, built a nationwide brand, and survived the QuadrigaCX collapse, the FTX crash, and Canada's strict crypto regulatory environment. By 2023, WonderFi had become a leading crypto platform in the Canadian market.However, he believes that succeeding in Canada was not the company's ultimate goal. WonderFi had originally hoped to grow into a global enterprise, and Robinhood saw WonderFi as a strategic gateway into the Canadian market, which led to the CAD 250 million acquisition. Samaroo pointed out that Canada has long faced structural issues that limit companies' ability to scale, including insufficient venture capital, weak public markets, regulatory fragmentation, and declining attractiveness of entrepreneurial returns.For the crypto industry, the challenges are even more pronounced. Samaroo noted that after the QuadrigaCX incident, Canadian regulators established one of the world's strictest crypto regulatory frameworks. While the original intent was to protect investors, it also increased operational costs for businesses. International trading platforms including Binance, OKX, Bybit, and Gemini all entered the Canadian market previously and then exited. He believes that Canada's crypto regulations are not only strict but also compounded by fragmented securities regulatory systems, leading to higher financing costs, increased operational complexity, and diminished interest from overseas investors.Samaroo said that WonderFi is not an isolated case—many Canadian tech companies have followed a similar trajectory: growing domestically until hitting market ceilings, then ultimately seeking overseas capital or strategic buyers. Shopify founder Tobi Lütke has also previously criticized Canada for repeatedly "nurturing important companies only to send them abroad." Restricting corporate sales can easily become a political statement, but the real key to solving the problem lies in building a business environment that supports companies in financing, expansion, and competing globally.Robinhood previously announced the acquisition of WonderFi for approximately CAD 250 million. This deal also reflects the accelerating consolidation in the North American crypto industry, as US platforms expand into other markets through M&A. (Fortune)
Cryptocurrency exchange Gemini has donated approximately $10 million worth of Bitcoin to MAGA Inc., a super PAC supporting former US President Donald Trump. According to a report filed with the US Federal Election Commission (FEC), Gemini co-founders Cameron Winklevoss and Tyler Winklevoss completed the donations in two installments on June 19, each worth over $5 million. This donation occurred about three weeks after the CFTC and Gemini jointly filed a motion with the US District Court for the Southern District of New York, seeking to vacate the $5 million settlement agreement reached in January 2025. The settlement stemmed from the CFTC's earlier allegations that Gemini had made false or misleading statements. MAGA Inc. can use these funds to support independent political expenditures for Donald Trump. Previously, the Winklevoss brothers each donated $1 million to Donald Trump's 2024 campaign and contributed $21 million worth of Bitcoin to the Digital Freedom Fund PAC to support the crypto policy direction of the Trump administration. Currently, the court has not yet ruled on the motion to vacate the settlement between the CFTC and Gemini. Meanwhile, CFTC Chairman Michael Selig remains the sole commissioner of the agency. As of June 30, MAGA Inc. has reported receiving over $397 million in funds.
The Singapore Police Force's Anti-Scam Centre and Cybercrime Department, in a six-week joint anti-scam operation from April 16 to May 31, 2026, collaborated with Coinbase, Coinhako, Gemini, Independent Reserve, OKX, StraitsX, and Upbit. Using blockchain analysis tools from Chainalysis and TRM Labs, they identified potential scam victims and conducted over 145 targeted interventions via phone and in-person visits, preventing potential losses exceeding $4.2 million. Coinbase Singapore stated in a post on X on July 10 that it worked with the Singapore police to prevent over 145 individuals from losing a combined total of more than $4.2 million due to scams. The Singapore Police Force stated that it will continue to work with cryptocurrency exchanges and other private sector entities to combat cybercrime. (Bitcoin.com News).
According to the Financial Times, the UK Financial Conduct Authority (FCA) stated that a "race" for artificial intelligence regulation is emerging in the financial sector and called for new regulatory powers to strengthen oversight of large models such as ChatGPT, Claude, and Gemini.
According to Red Star News, an investigation report leaked from Myanmar fraud parks shows that global telecom fraud is accelerating towards an "AI industrialization + cross-border encrypted payment" system. Fraud networks complete fund flows through cryptocurrencies and use large model-based automated tools for multi-language script generation, identity disguise, and emotional manipulation. According to investigation analysis, these systems extensively utilize OpenAI's ChatGPT and Google's Gemini at the functional level to support "scaled social fraud," while on the funding end, rapid laundering and transfer are achieved through on-chain payments and cross-border channels, forming a dual-layer structure of "AI customer acquisition + encrypted settlement," enabling the fraud industry to possess high automation and cross-national diffusion capabilities. Additionally, Musk's Starlink has become the top network service provider for Myanmar fraud parks, with US ISP service providers carrying nearly one-fifth of the park's traffic. Regarding the relevant allegations, OpenAI responded that fraudsters' use of ChatGPT is highly similar to that of ordinary users, making identification difficult, but approximately 100,000 suspicious accounts are banned monthly through behavior pattern recognition and risk control systems. Google stated its AI models have established safety guardrails and emphasized commitment to "responsible AI development" to limit tools from being used for illegal purposes such as fraud.
"White-Haired Stock Guru" Serenity stated that while some observations in the UBS report hold anecdotal truth, the more noteworthy trend is the increasing number of Chinese-language reports regarding the distillation of Anthropic's models. Currently, many US startups and tech companies are opting to use cheaper Chinese models (such as DeepSeek) in their AI applications, as their unit task costs are significantly lower than those of inference models from Gemini, OpenAI, and Anthropic.Serenity believes this trend, driven by capitalism, creates a "typical paradox"—companies naturally gravitate towards lower-cost solutions, thereby eroding the leading advantage of US models. He proposes that the US needs to address this on two fronts:First, build stronger access control and authentication systems, such as "heavy KYC frontier models" for domestic US use and tiered access mechanisms for allies, to reduce the risk of model distillation and misuse. This could also be accompanied by introducing an identity verification system akin to "AI-grade banking authentication" (e.g., biometrics + short-lived permission tokens) to raise the barrier for model calls, and using regulatory measures to restrict account sharing and access resale.Second, enhance the cost efficiency of inference models, allowing them to comprehensively outperform competitors like DeepSeek in both price and performance.Serenity also noted that some high-end models are currently frequently targeted for "distillation exploitation." Ideally, access to models nearing the AGI level should involve increased friction costs. In summary, the core challenge for the US AI industry lies in achieving both "low-cost inference capabilities" and establishing model access security mechanisms comparable to those in the financial system.
: The United States Commodity Futures Trading Commission (CFTC) announced that it has jointly filed for an exemption from judgment with Gemini Trust Company LLC regarding the lawsuit initiated against Gemini in 2022.It is reported that the case was filed in June 2022, and both parties reached a settlement agreement in January 2025. After a comprehensive review, the CFTC concluded that the case should not have been brought and would not be pursued under current enforcement standards.The review report identified six major issues, including: the lawsuit was primarily based on statements from a whistleblower known to lack credibility; the investigation targeted Gemini as the victim rather than focusing on the alleged fraudsters; doubts existed regarding the strength of evidence against Gemini; key evidence was not provided to commissioners during their vote; litigation attorneys used deliberative privilege to prevent Gemini from accessing defense materials; and personnel involved were suspected of using regulatory authority to pressure Gemini into a settlement.
OdailyOdaily Planet Daily News Some career officials at the U.S. Commodity Futures Trading Commission (CFTC) were purged after raising compliance concerns about Polymarket, Crypto.com, and Gemini Titan, all of which are alleged to have business ties to the Trump family.The report states that then-acting CFTC Chairman Caroline Pham and Senior Legal Advisor Brigitte Weyls intervened in the relevant review process, helping these companies obtain approvals or avoid further investigations. The two later joined MoonPay and Gemini Titan, respectively.It is understood that the officials in question had previously expressed concerns that Crypto.com was not treating small retail investors fairly, that Polymarket's anti-fraud mechanisms were insufficient, and that Gemini Titan had not completed the review required for its launch.Furthermore, the report notes that during Trump's second term, the CFTC has dropped at least five crypto investigations and has only made public two enforcement cases involving digital assets, both targeting individual operators. In contrast, there were over 80 such cases during the Biden administration. (The New York Times)
Odaily Odaily報道， multiple senior officials at the U.S. Commodity Futures Trading Commission (CFTC) who had raised compliance concerns regarding prediction market platforms were subsequently suspended, subjected to internal investigations, and ultimately forced to leave their positions. The report states that these officials had expressed concerns about the following companies: Polymarket lacking adequate anti-fraud mechanisms; Crypto.com not treating small bettors fairly; and a Gemini-affiliated company having not yet completed necessary regulatory reviews.The investigation noted that all the aforementioned companies are believed to have business ties with the Trump family. Sources said that the then-acting CFTC Chair Caroline Pham and her senior advisor intervened to help these companies secure regulatory approvals.As of the end of 2025, two officials who raised the questions were placed on administrative suspension and subjected to internal investigations, while three other officials responsible for crypto enforcement faced similar treatment, none of whom were informed of the specific reasons. The report suggests this has created a signal within the CFTC to "avoid creating trouble for the relevant industry."The CFTC significantly scaled back crypto enforcement during the Trump era: the agency initiated over 80 crypto enforcement actions during the Biden administration, but only two during the Trump administration, both targeting individual operators rather than large corporations. Furthermore, Caroline Pham left the CFTC to join MoonPay, which has a partnership with Polymarket; her former senior advisor, Brigitte Weyls, joined Gemini Titan as General Counsel. The current CFTC Chair, Michael Selig, previously worked as a corporate lawyer for several crypto companies. (Cointelegraph)
centralized exchanges Coinbase, Kraken, and Gemini are urging U.S. senators to remove a specific clause in the digital asset market structure bill. The clause restricts trading platforms from listing tokens that are susceptible to market manipulation.The exchanges have submitted amendment proposals requesting the removal of this restriction, arguing that this regulatory standard, derived from traditional commodity futures, would hinder the listing of low-liquidity small-cap tokens on compliant exchanges and limit industry innovation. (crowdfundinsider)
Gemini, the crypto exchange founded by the Winklevoss twins, saw its stock price surge over 25% in pre-market trading after releasing its Q1 2026 financial results. The report showed the company's quarterly revenue increased 42% year-over-year to $50.3 million, while its net loss narrowed 27% year-over-year to $109 million. However, this still exceeded the market's expected loss per share of $0.61.The report indicates that Gemini's operating expenses rose 73% year-over-year to $144.5 million. Within this, employee compensation costs increased by 91% and included approximately $6.5 million in severance expenses. Sales and marketing spending also doubled year-over-year to $19.1 million. The company stated it is currently pushing forward with a business transformation via layoffs, business contraction, and a $100 million Bitcoin capital injection from the Winklevoss Capital Fund, as it seeks to achieve profitability.In February of this year, Gemini closed its operations in the UK, the EU, and Australia, and cut approximately 25% of its workforce to refocus on the US market and prediction market business. In April, the company received approval from the U.S. Commodity Futures Trading Commission for a Derivatives Clearing Organization (DCO) license, officially entering the crypto prediction market space. Bolstered by these developments, the company's stock has been rebounding recently, currently trading above $6.60. (CoinDesk)
crypto exchange Gemini has released its first-quarter financial results, with revenue reaching $50.3 million, a 42% increase from $35.3 million in the same period last year. This drove its stock price up by as much as 30% in after-hours trading.The company stated that the growth was mainly driven by its service business, OTC trading, and crypto-related credit card services such as the Gemini Credit Card. Revenue from the credit card segment grew approximately 300% year-over-year, now accounting for nearly half of total revenue.Gemini also disclosed its prediction market business data for the first time. Since its launch in December last year, the business has attracted over 20,000 users to trade contracts, with cumulative contracts traded exceeding 100 million, contributing approximately $400,000 in revenue. The company noted that trading volume in April increased by a further 78% compared to the previous month.Gemini CEO Tyler Winklevoss stated that the company is gradually transitioning from a crypto trading platform into a broader "market company." Previously, Gemini had obtained a CFTC derivatives clearing organization license, which supports its expansion into derivatives and prediction market businesses.
According to PRNewswire, market analysis reports indicate that Coinbase and Kraken together account for 22% of all AI mentions across the cryptocurrency category—Coinbase accounts for 13%, and Kraken for 9%—holding a lead over other U.S. trading platforms by more than threefold. Gemini ranks third with 5.5%, Robinhood Crypto fourth with 5%, and BlackRock’s spot Bitcoin exchange-traded fund (ETF), IBIT, fifth with 4.5%, dominating queries related to “Bitcoin ETFs.” Additionally, hardware wallets are losing influence in AI responses: while Ledger and Trezor still dominate queries related to “cryptocurrency wallets,” AI increasingly recommends custodial solutions offered by regulated trading platforms when addressing questions about the “best way to store cryptocurrency assets.” (Note: “AI mentions” refers to how frequently an AI chatbot references a particular brand, product, or company when responding to user queries.)