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How a crypto startup quietly siphoned 470,000 Binance users to build a $4 billion card empire

Binance-affiliated entities filed a Hong Kong petition against RedotPay's founders, alleging the payment startup used its partnership with Binance to divert more than 470,000 Binance Card customers into its own competing stablecoin card. As Bloomberg News reported, Binance claims $472.8 million in losses, built on an estimated $925 lifetime value per customer, and says RedotPay […]

CryptoSlateCryptoSlateGino Matos6 Aug

Why China Fears Anthropic’s Mythos — and Why It Can’t Do Much About It

Beijing sees Anthropic’s Mythos model as a possible offensive cyber weapon. Officials are drawing up potential responses in case Washington targets Chinese artificial intelligence (AI) firms. People familiar with the deliberations described the plans to Bloomberg. A second grievance sits beside it. Officials want to know why Anthropic refuses them access for ordinary commercial use.

BeInCryptoBeInCryptoHarsh Notariya4 Aug

Wall Street is sitting on a $16.3 billion Bitcoin loss, and an August 14 deadline will expose who is quietly fleeing

Bloomberg Intelligence estimates the average net cost basis of US spot Bitcoin ETF capital at roughly $82,249, leaving the position about 22% underwater and sitting on $16.33 billion in unrealized losses. On Aug. 14, large investment managers must disclose their June 30 Bitcoin ETF positions, and those filings offer the clearest look yet at whether […]

CryptoSlateCryptoSlateGino Matos1 Aug