Converge

Latest

Bank of England Publishes Policy Statement and Draft Rules for Systemic Stablecoins
Regulation & Politics

Bank of England Publishes Policy Statement and Draft Rules for Systemic Stablecoins

The Bank of England published its policy statement and draft Code of Practice for systemic stablecoin issuers on Monday, replacing per-person holding caps with a £40 billion issuer-level guardrail and lifting the gilt share of reserves to 70%. Industry feedback is open until 22 September.
AWS Plugs Coinbase's x402 Into CloudFront, Letting Publishers Charge AI Agents in USDC
DeFi

AWS Plugs Coinbase's x402 Into CloudFront, Letting Publishers Charge AI Agents in USDC

AWS turned on AI traffic monetization inside AWS WAF on Monday, letting any site behind Amazon CloudFront charge AI agents per request in USDC through Coinbase's x402 protocol. It is the first time a hyperscale cloud has wired onchain settlement into its content-delivery edge.
CLARITY Act Reaches Senate Floor With House Ready to Move Fast; Seven-Democrat Math Becomes the Gate
Regulation & Politics

CLARITY Act Reaches Senate Floor With House Ready to Move Fast; Seven-Democrat Math Becomes the Gate

The Digital Asset Market Clarity Act sits on the Senate calendar eligible for a floor vote, with House Agriculture digital-assets subcommittee chair Dusty Johnson signaling a fast House companion. The bill needs at least seven Democratic votes to clear the 60-vote cloture threshold before the August recess.
CME Group to Sue CFTC Over Perpetual Futures Approval, Citing Dodd-Frank Swaps Definition
Regulation & Politics

CME Group to Sue CFTC Over Perpetual Futures Approval, Citing Dodd-Frank Swaps Definition

The world's largest derivatives exchange operator said Wednesday it will sue the CFTC over the agency's approval of Kalshi's bitcoin perpetual futures, arguing the contracts should be classified as swaps under the Dodd-Frank Act.
Ondo Finance Adds 173 Tokenized Stocks and ETFs, Taking Catalog Past 430 Assets Across Three Chains
DeFi

Ondo Finance Adds 173 Tokenized Stocks and ETFs, Taking Catalog Past 430 Assets Across Three Chains

Ondo Finance expanded Ondo Global Markets with 173 new tokenized stocks and ETFs on Tuesday, lifting the platform's total catalog past 430 assets on Ethereum, Solana, and BNB Chain. The batch brings AI, robotics, quantum, defense tech, critical materials, and data center energy names onchain alongside BlackRock active ETFs and covered call strategies.
Backpack's Tokenized SpaceX Token on Solana Crosses 10,000 Holders, Nearly Double xStocks' SPCXx
DeFi

Backpack's Tokenized SpaceX Token on Solana Crosses 10,000 Holders, Nearly Double xStocks' SPCXx

Backpack's tokenized SpaceX share token has crossed 10,000 onchain holders on Solana, six days after listing alongside the company's Nasdaq debut. The milestone widens the holder gap with rival xStocks' SpaceX product and lands as Backpack chief executive Armani Ferrante stakes out a structural distinction from competing onchain SpaceX exposure.
Strategy's STRC Falls to Record Low, Squeezing a Bitcoin Funding Channel
Markets

Strategy's STRC Falls to Record Low, Squeezing a Bitcoin Funding Channel

The Stretch preferred fell to about $85 on Thursday, roughly 15% below the $100 it is engineered to hold, extending a record-low close and tightening one of the channels Strategy uses to fund its bitcoin buying.
Litecoin Spot ETF Sits at $9M as Altcoin-ETF Era Tests Its Demand Thesis
Markets

Litecoin Spot ETF Sits at $9M as Altcoin-ETF Era Tests Its Demand Thesis

The first US spot Litecoin ETF has been trading for nearly eight months, but Canary Capital's LTCC has drawn under $10 million as LTC sits 89% below its all-time high, testing the thesis that altcoin ETF approval automatically translates into institutional inflows.
Congress Strikes Housing-Bill Deal That Bans Fed CBDC Through 2030
Regulation & Politics

Congress Strikes Housing-Bill Deal That Bans Fed CBDC Through 2030

Congressional negotiators folded a statutory ban on a Federal Reserve central bank digital currency into the bipartisan 21st Century ROAD to Housing Act, blocking any Fed-issued retail digital dollar until December 31, 2030. The text now heads back to the Senate floor.
Kalshi Eyes Broader Asset Classes for Perpetual Futures After $5.5B Crypto Launch
CeFi

Kalshi Eyes Broader Asset Classes for Perpetual Futures After $5.5B Crypto Launch

After generating $5.5 billion in trading volume in two weeks, Kalshi is pushing to extend its CFTC-regulated perpetual futures beyond crypto into a wider range of asset classes.