Business – Page 278 – PK Press Club

Former Car Dealership Turned Bitcoin Miner Just Lost $450 Million and Turns to AI

Cango (CANG), a bitcoin mining company that exited auto services, reported full-year 2025 revenue of $688.1 million and a net loss of $452.8 million. However, it sold 4,451 BTC in February 2026 to reduce its debt and help finance its shift toward AI infrastructure. The company rapidly expanded its mining operations in 2025, with $675.5 […]

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Stratton wins Illinois Senate primary, defeating crypto-backed Krishnamoorthi

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Illinois Lt. Gov. Juliana Stratton is poised to become the state’s next senator after winning the Democratic primary Tuesday night, defeating Rep. Raja Krishnamoorthi. Krishnamoorthi had received over $8 million in support from crypto super-political action committee (PAC) Fairshake, among other entities, while Stratton was backed by Illinois Governor JB Pritzker. The Illinois Senate seat

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Mastercard to acquire BVNK for $1.8 billion to expand stablecoin payments

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Mastercard has agreed to buy BVNK, a stablecoin infrastructure company, for up to $1.8 billion, in a bid to boost its use of digital assets for international payments. By integrating BVNK’s technology, Mastercard aims to connect blockchain payments to its global network, enabling use cases such as cross-border transfers, remittances and business-to-business payments, the company

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Argentina joins growing list of countries blocking access to Polymarket

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Argentina ordered a nationwide block of prediction marketplace Polymarket after a Buenos Aires court ruled the platform was operating without local approval and exposing users to gambling risks. The decision orders internet service providers across the country to block access to the site and its associated domains, according to local media. It also ordered Apple

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Ripple associated with XRP seeks VASP license in Brazil

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Ripple, the payments-focused blockchain company closely associated with the XRP Ledger (XRP) network, is expanding its digital asset services in Brazil while preparing to apply for a license from the country’s central bank, a move that would place it within the country’s new crypto framework. The company announced Tuesday that it is rolling out a

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Huntington Bancshares, First Horizon, M&T Bank and KeyCorp among lenders operating on tokenized deposits

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A group of U.S. regional banks is developing the Cari Network, a tokenized custodial platform built on ZKsync, a layer 2 network, as lenders seek a regulated path to modernizing digital payments. The network, announced Tuesday, is being developed with banks including Huntington Bancshares, First Horizon, M&T Bank, KeyCorp and Old National Bancorp. It is

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Senator Chris Murphy and Representative Greg Casar target insider trading in prediction markets

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Democratic lawmakers are trying to stop the potential manipulation of prediction markets by government officials who bet on events they know will happen, such as U.S. military actions, according to a new bill introduced Tuesday. The Prohibiting Event Trading on Sensitive Operations and Federal Functions (BETS OFF) Act would prohibit corrupt betting by those who

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“Gensler and Biden were simply better for crypto,” says Tally CEO as DAO governance platform shuts down

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The CEO of cryptocurrency’s largest decentralized autonomous organization (DAO) governance platform says the Biden administration was better for his industry than its successor — and is shutting down his company to prove his point. Tally, which provided on-chain governance for Arbitrum, Uniswap, ENS and more than 500 other DAOs, will end its operations after six

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Senate makes progress on market structure bill, says banking panel head

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WASHINGTON, DC — The stalled Senate crypto market structure bill is moving forward behind the scenes, the chairman of the body’s banking committee said Tuesday. Sen. Tim Scott, who leads the banking panel overseeing the market structure bill, said at the Digital Chamber’s DC Blockchain Summit that lawmakers could see at least stable new draft

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US SEC publishes definitions of what crypto assets are securities for the first time

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For the first time, the US Securities and Exchange Commission sought to clearly define the different types of crypto assets and how the regulator will approach them, releasing these new standards on Tuesday alongside its sister agency responsible for commodities. The SEC’s interpretive guidance, which does not yet have the weight of a formal new

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