According to an August 26 report by Fox News, the trial was organized by both the US Air Force and Navy. They used a system called Starsage, built by Raft AI, during joint tests involving F-16, F/A-18, and F-35 fighter jets.

This exercise focused on testing how AI could help manage weapons, communications, and mission planning.

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Traditionally, pilots are guided by air battle managers who stay on the ground and keep track of radar feeds, intelligence updates, and aircraft positioning. These managers act like air traffic controllers, but in a military setting.

Raft AI’s Starsage system takes that same role but gives each pilot their own dedicated AI assistant.

Raft AI’s CEO, Shubhi Mishra, described the system as a one-on-one tool that offers faster and more accurate support than current methods. She said pilots can now receive tailored information in seconds, rather than waiting minutes.

According to Mishra, Starsage improves decision-making by processing mission data and reacting without delays.

During the test, pilots confirmed their readiness with Starsage, which then checked that the required aircraft were airborne and prepared for the mission. The AI cross-referenced the information with simulated radar feeds and mission objectives.

Once everything matched, the system notified higher command units through digital updates, which reduced the need for constant radio calls.

A recent report from Cox Business explored how Gen Z and millennials use AI at work. What did it reveal? Read the full story.

The U.S. Securities and Exchange Commission’s new Crypto Task Force will begin a cross-country tour this month to meet with small crypto startups and expand the number of people who are heard in crypto policymaking.

Led by Commissioner Hester Peirce, the task force plans to visit 10 cities from August to December, it announced in a press release.

The sessions are primarily aimed at crypto-related projects with fewer than 10 employees and under two years in operation. Meetings will be held in cities including Berkeley, Boston, Dallas, Chicago, and New York.

“We want to hear from people who were not able to travel for the roundtables that took place this past spring in Washington, D.C.,” Peirce said in a statement.

“The Crypto Task Force is acutely aware that any regulatory framework will have far-reaching effects, and we want to ensure that our outreach is as comprehensive as possible.”

The Crypto Task Force was launched in January under acting SEC Chair Mark Uyeda, in a bid to develop clearer regulations for the cryptocurrency industry.

Read more: SEC Commissioner Hester Peirce on the New Crypto Task Force

The decentralized oracle network Chainlink (LINK) defied the overall crypto market dip and witnessed a mild bump in price after Chainlink Labs announced that it had joined the U.S. Securities and Exchange Commission’s (SEC) Crypto Task Force.

The project announced on the social media platform X that it had joined the task force to “discuss the need for standards enabling the compliant issuance and trading of tokenized assets at scale.”

“For the blockchain industry to reach its full potential and tap institutional capital, meeting regulatory requirements is essential. Only Chainlink provides the compliance, privacy, cross-chain, and data infrastructure needed to scale digital asset adoption in a single platform.

Chainlink’s Automated Compliance Engine (ACE) enables developers and institutions to define and enforce compliance policies directly within smart contract workflows, providing a framework for tokenized assets to remain compliant with regulatory requirements as they move across the on-chain economy.”

LINK is trading at $17.49 at time of writing. The 17th-ranked crypto asset by market cap is up nearly 3% in the past 24 hours, more than 12% in the past seven days and more than 33% in the past month.

By comparison, the overall crypto market is down 3.6% in the past 24 hours, according to data from CoinGecko.

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Hester Peirce, head of the US Securities and Exchange Commission’s (SEC) Crypto Task Force, said that putting securities on a blockchain “does not have magical abilities to transform the nature of the underlying asset.” 

In a July 9 statement, Peirce emphasized that tokenized shares, notes, or entitlements “are still securities,” requiring issuers, intermediaries, and traders to adhere to existing federal law when creating, selling, or transferring them.

Legal obligations

Peirce’s bulletin notes that tokenization can occur in two ways: an issuer can mint blockchain versions of its own shares, or a custodian can wrap third-party securities and issue receipts.

She warned that the second model introduces counterparty risk because the token holder depends on the custodian’s solvency and control of the underlying shares. 

Peirce urged distributors to consult the SEC’s Division of Corporation Finance’s “staff statement” on disclosure duties and to meet with agency staff early if they seek bespoke exemptions.

She also flagged that the rules might classify specific token formats as “receipts for a security” or, if they lack beneficial ownership rights, as “security-based swaps” barred from off-exchange retail trading.

Peirce wrote:

“The same legal requirements apply to on- and off-chain versions of these instruments.” 

Growing on-chain stock activity

Peirce’s remarks arrive as tokenized equity volumes accelerate. Solana-based stock tokens issued under Backed Finance’s xStocks framework reached a combined market value of $48.53 million as of July 4.

Dashboard snapshots from data provider RWA.xyz show that the total surpassed the $50 million mark on July 6.

Furthermore, xStocks is now moving to other venues. BNB Chain announced that it will list Apple, Tesla, and other equity tokens as BEP-20 assets in partnership with Kraken and Backed, providing users with 24-hour access and DeFi composability.

Market participants largely welcomed the clarity. Backed Finance co-founder Adam Levi said in a statement that the company “designed xStocks to mirror traditional equity custody so regulatory treatment remains straightforward.” 

Kraken added that DeFi integrations on BNB Chain will let users post tokenized stocks as collateral without altering their securities status.

Separately, Bitget integrated xStocks into its on-chain platform on July 9, enabling customers to trade the same tokens from their spot accounts without the need for separate wallets.

Peirce closed by signaling openness to modernization, saying the Commission “stands ready to work with market participants to craft appropriate exemptions and modernize rules” where technology exposes gaps. 

Mentioned in this article

One of the world’s leading financial services firms has met with the U.S. Securities and Exchange Commission’s (SEC) Crypto Task Force to discuss the regulations of digital assets.

According to a recent memo, three members of JPMorgan Chase met with the regulator to talk about moving existing traditional capital markets on-chain and the banking giant’s business footprint in the crypto industry.

Says the memo.

“On June 17, Crypto Task Force Staff met with representatives from JPMorgan Chase. The topic discussed was approaches to addressing issues related to regulation of crypto assets…

Agenda:

• Overview of existing business footprint, including Repo on existing JPMC platforms of Digital Financing and Digital Debt Services. Additional discussion on the potential competitive angle as markets evolve.
• Area of analysis reviewing the potential impact of existing capital markets activity migrating to public blockchain. Specifically what areas of the existing model might change, and how firms could assess the risk and benefits of those changes.
• Future engagement with the Task Force.”

Earlier this week, JPMorgan Chase filed for a trademark to launch JMPD, its very own crypto service provider and deposit token. In the filing, the bank said it would provide trading, exchange, transfer, and payment processing services for digital assets as well as issue them.

Walmart, Amazon, and other corporate giants are also reportedly contemplating starting their own stablecoins as a means of streamlining payments and avoiding credit fees.

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Crypto analyst Cyclop has made a potentially significant statement, claiming that the ongoing crisis between Israel and Iran may inadvertently boost the performance of digital assets. 

Despite recent volatility, which saw a sell-off of approximately $140 billion in the crypto market, Cyclop’s long-term analysis reveals a more optimistic outlook for the broader digital asset industry.

Analyst Predicts Bullish Trends For Crypto Amid Conflicts

In a recent post on X (formerly Twitter), Cyclop pointed to historical patterns that suggest geopolitical tensions often lead to bullish trends in cryptocurrency. 

Citing specific instances from April and October 2024, he noted that Bitcoin (BTC) experienced an initial decline of 18% and 10% respectively during these conflicts, only to rebound with impressive gains of 28% and 62% shortly thereafter. 

This trend, he argues, indicates a recurring cycle where war-related dips in crypto prices eventually transform into significant growth, as can be depicted in the chart below shared by Cyclop.

Related Reading

The analyst explains that while such conflicts can trigger short-term bearish movements, the overarching impact tends to be favorable for cryptocurrencies. 

As wars ignite fears of inflation and instability, Cyclop has noted that many investors for the traditional finance arena turn to crypto as a hedge against weakening fiat currencies. 

Unlike traditional bank accounts, cryptocurrencies are not subject to freezing, he said, making them appealing during times of geopolitical unrest. Increasingly, digital currencies are being viewed as a form of “digital gold,” a safe haven in tumultuous times.

Favorable Macroeconomic Factors

The current market dynamics echo previous events, such as the Russia-Ukraine conflict and US-Iran tensions in 2020, which similarly resulted in temporary dips followed by recoveries. Cyclop remains confident that the present situation will yield similar outcomes, despite the typical summer slowdown that often affects market activity.

Supporting this bullish sentiment are favorable macroeconomic factors. Recent developments indicate that the US and China have reached a compromise, easing tariffs and aiming to stabilize global supply chains. This move is expected to help cool inflation and restore investor confidence. 

Moreover, President Donald Trump’s decision to delay new tariffs has contributed to a more risk-friendly environment, allowing liquidity to flow back into crypto markets.

Related Reading

Further aiding this positive outlook is the latest Consumer Price Index (CPI) report, which showed a modest increase of just 0.1% month-over-month, slightly below forecasts. 

With year-over-year inflation at 2.4%—down from an expected 2.5%—the Federal Reserve (Fed) is now anticipated to cut interest rates twice by the end of the year. Historically, such rate cuts have been bullish for cryptocurrencies, as they often lead to increased liquidity in the markets.

While the immediate aftermath of the Israel-Iran conflict may present challenges, historical data suggests that cryptocurrencies have the potential to thrive in such environments. 

Featured image from DALL-E, chart from TradingView.com 

Crypto Journalist

Anas Hassan

Crypto Journalist

Anas Hassan

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Anas is a crypto native journalist and SEO writer with over five years of writing experience covering blockchain, crypto, DeFi, and emerging tech.

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Last updated: 

June 12, 2025

President Donald Trump has escalated his public feud with Federal Reserve Chair Jerome Powell, branding him a “numbskull” while simultaneously pledging not to fire the central bank chief despite mounting frustration over the Fed’s reluctance to slash interest rates.

Speaking at a White House event Thursday, Trump delivered his harshest criticism of Powell’s monetary policy approach, claiming that lowering rates by just one percentage point could save the United States $300 billion annually, while a two-point reduction would generate $600 billion in savings.

Why Trump Wants to ‘Force Something’

Trump’s latest verbal assault marks the third time in two days that his administration has publicly targeted Powell. It follows similar criticisms from Commerce Secretary Howard Lutnick and Vice President JD Vance, who called the Fed’s stance “monetary malpractice.”

The coordinated pressure campaign came from the administration’s growing impatience with the central bank’s independence, particularly as Trump faces re-election pressures and seeks to demonstrate economic leadership.

Despite repeatedly calling Powell “Too Late” and questioning why firing him would be controversial, Trump stopped short of threatening termination, instead ominously suggesting he “may have to force something” if rate cuts don’t materialize soon.

The timing of Trump’s criticism appears strategic, coming as recent economic indicators show inflation cooling and energy prices declining due to increased domestic drilling under his “drill, baby, drill” energy policy.

Powell’s current term as Fed chair expires in May 2026, and Trump has hinted that an announcement regarding his nominee for the next Fed chair could come soon.

Harvard legal experts suggest that while Trump may have constitutional authority to remove Powell, such a move would likely trigger severe market volatility and undermine the Fed’s credibility as an inflation fighter, potentially causing long-term interest rates to spike even if short-term rates were cut.

Presidential Pressure Campaign Intensifies Fed Independence Debate

The escalating confrontation between Trump and Powell is a fundamental clash over Federal Reserve independence with deep constitutional and economic implications.

Trump’s frustration stems from his belief that the current interest rate environment unnecessarily burdens federal borrowing costs, particularly as the government faces mounting short-term debt obligations approved during the Biden administration.

The president argued that Europe has implemented ten rate cuts while the Fed has delivered none, despite similar economic conditions and falling inflation metrics.

Legal scholars say that while the Federal Reserve Act of 1913 allows governors to be removed “for cause,” the Supreme Court’s recent decisions have gradually eroded the traditional “for cause” protections that independent agencies have enjoyed for 85 years.

Harvard Law School’s Daniel Tarullo, a former Fed Board member, suggests that three conservative justices have hinted at potentially treating the Federal Reserve differently from other agencies, possibly creating a carve-out based on the central bank’s historical precedent dating back to the First and Second Banks of the United States.

However, market dynamics may provide Powell with more protection than legal statutes, as any attempt to remove the Fed chair would likely trigger immediate and severe market reactions that would prove counterproductive to Trump’s economic objectives.

The anticipated market volatility is a powerful disincentive, particularly given that Treasury Secretary Scott Bessent has focused on maintaining stable 10-year Treasury rates, which are key for economic investment decisions.

Recent economic indicators have strengthened Trump’s argument for immediate monetary easing. Inflation data show continued price stability and energy costs declining due to expanded domestic oil production.

The favorable Producer Price Index reading in May has calmed fears about tariff-induced inflation spikes, emboldening the administration to intensify pressure on the Fed while markets increasingly price in potential rate cuts later this year.