California Governor Gavin Newsom announced the California Breakthrough Project on July 15, enlisting executives from Coinbase, Ripple, MoonPay, and other technology firms to help streamline state operations. 

Newsom convened the advisory group at Ripple’s San Francisco headquarters on June 6. Participants include Ripple Executive Chair Chris Larsen and unnamed executives from MoonPay and Coinbase.

The cohort will work with agency staff to pinpoint bottlenecks in procurement, hiring, and service delivery, propose challenge‑based pilots, and maintain transparency and labor consultation throughout each project phase. 

Newsom tied the initiative to California’s role in artificial intelligence (AI) research, noting that 32 of the world’s 50 largest AI companies operate in the state. He said access to that expertise enables Sacramento to test new tools quickly while respecting privacy safeguards. 

Executive order sets implementation deadlines

The governor paired the task force with Executive Order N-30-25, which instructs the Government Operations Agency to collaborate with the departments of Human Resources, General Services, and Technology on three fronts: shortening civil service hiring cycles, simplifying information technology procurement, and creating shared contracting vehicles. 

The order directs every cabinet agency to submit at least one no- or low-cost efficiency proposal within 90 days. 

The Office of Data Innovation will expand “Engaged California,” a deliberative democracy platform that crowdsources ideas from state workers. 

The office must also launch an Innovation Fellows Program that assigns selected supervisors to fix specific operational challenges by  Aug. 15. Departments are mandated to allocate dedicated time for each fellow to complete the assignment. 

Coinbase channels funds to Fairshake super PAC

Separately, Coinbase is backing federal political efforts through Fairshake, a crypto‑focused super PAC that reported $141 million in cash on hand as of June 30, journalist Eleanor Terrett wrote on July 15. 

The figure includes $52 million raised in the first half of 2025, of which Coinbase contributed $25 million. 

Fairshake has collected $109 million since Election Day 2024, and a spokesperson said the group “remains focused on building lasting support for crypto and blockchain innovation.”

Mentioned in this article

Kraken has become the first major global crypto exchange to secure a full Markets in Crypto-Assets (MiCA) license through the Central Bank of Ireland, enabling the company to offer regulated digital asset services across all 30 European Economic Area (EEA) countries.

The license, granted June 26, positions Kraken ahead of the European Union’s year-end MiCA compliance deadline for crypto asset service providers.

The license grants authorization for all seven regulated crypto activities under MiCA, including custody, trading, portfolio management, and payments. It folds Kraken’s existing virtual asset service provider (VASP) registrations in France, Italy, Spain, and the Netherlands under a single regulatory umbrella.

Per Kraken’s announcement, the approval establishes the firm’s legal basis to continue operating across the bloc amid MiCA’s provisions on crypto exchanges.

MiCA, enacted in June 2023, establishes the EU’s first comprehensive regulatory framework for digital assets. It provides a unified set of rules replacing 27 national systems. While its stablecoin provisions took effect June 30, 2024, core exchange and custodial rules became binding at the end of last year. Crypto firms that failed to obtain authorization faced a sunset period through July 2026, depending on local transpositions.

Kraken’s license arrives just days after Coinbase secured its own MiCA license via Luxembourg’s Commission de Surveillance du Secteur Financier. The timing highlights an accelerated push by major U.S. exchanges to lock in regulatory clarity within Europe, even though SEC-driven clarity has emerged at home. The pair’s approvals should yield strategic advantages, including passporting rights, streamlined onboarding, and market access ahead of a competitive backlog.

Kraken’s European business already accounts for roughly 25 percent of its global spot volume. The same update cited over 35 percent of euro-denominated crypto liquidity flowing through Kraken, metrics that likely informed the firm’s regulatory roadmap.

In 2024, Kraken denied phasing out five stablecoins, including Tether’s USDT, from EEA users to preemptively align Kraken’s offerings with MiCA’s stablecoin rules, which prohibit unauthorized issuers and limit exposure thresholds. However, by February 2025, this had changed, and non-MiCA-compliant stablecoins were delisted and converted in March.

In parallel, Kraken also acquired a Cyprus-based entity to secure a Markets in Financial Instruments Directive (MiFID) license, giving the firm permission to offer regulated crypto derivatives in the EU. That license, announced February 3, enables Kraken to provide futures and margin products under investment firm rules, placing it among a small cohort of exchanges targeting both spot and derivatives markets under compliant frameworks.

While Kraken’s MiCA license formally unlocks passporting rights, those rights are activated only once the Central Bank of Ireland uploads the authorization to the European Securities and Markets Authority’s (ESMA) central CASP register. The timing of that upload could vary. Meanwhile, some national regulators may impose additional anti-money laundering checks, which could introduce local onboarding frictions even under the harmonized regime.

Regulatory clarity around crypto activities is gaining traction as MiCA’s sunsetting period comes to a close. ESMA has called on crypto firms to delist non-compliant tokens and prepare for robust technical standards expected to evolve through 2025. For exchanges like Kraken and Coinbase, securing a MiCA license early may limit future disruptions, ease institutional onboarding, and offer stable legal ground for expansion.

The firm’s co-CEO Arjun Sethi said the license “affirms Kraken’s commitment to building for the long term,” adding that it “places us in a strong position to expand our product offering.”

Mentioned in this article

Singapore-based BitDeer Technologies Group has launched a $330 million convertible note offer with the aim of strengthening mining operations, developing ASIC rigs and expanding AI infrastructure.

The memo, scheduled for 2031, will be converted to Bitdeer Class A stock at a 25% premium with an annual interest rate of 4.875% and currently at a stock price of $11.84, placing a conversion price of around $15.88 per share.

This offer is intended for qualified institutional buyers under Rule 144A of the Securities Act. If investors exercise their option to buy more within 13 days, the offering could reach $375 million.

This is Bitdeer’s third convertible note raise. Previously, the company had secured $150 million in August and $360 million in November last year. According to Bitdeer, the offering is scheduled to close on June 23, 2025.

The net revenue is expected to total approximately $319.6 million. Approximately $129.6 million will be allocated to zero strike call options, with $36.1 million allocated for concurrent note exchanges. The remaining funds will support data center expansion, new ASIC rig development, and general company needs.

Bitdeer is also offering note exchanges, providing cash and shares to 8.50% convertible memo holders in 2029. The transaction includes approximately $36.1 million in cash and 8.1 million shares, and was exchanged for $75.7 million of outstanding bills.

This announcement follows Bitdeer’s recent growth. As previously reported, the company mined 196 BTC in May (over $21 million) and expanded its self-mining hashrate to 13.6 EH/s. The new Sealminer rig has been deployed at sites in Texas, Norway and Bhutan, and has officially launched an AI cloud platform powered by a large language model.

“In May 2025, we continued to deploy seal mining mining rigs to sites in Texas, the US, Norway and Bhutan, bringing Bitdia self-mining hashrate to 13.6 EH/S.”

Bitdeer also raised Capital from Tether in 2024, securing $40 million in May from its debt facility with Matrix Finance. Both Bitdeer and Matrix are led by Jihan Wu, co-founder of Bitmain.

With its market capitalization currently exceeding $2.3 billion, Bitdeer continues to invest in expanding its infrastructure and technology as competition for Bitcoin mining and AI computing intensifies.

The final week of April brought several prominent code articles from Africa. African payment service provider Onafriq is leveraging USDC to strengthen cross-border settlements. Meanwhile, Nigeria is pursuing eight individuals, including four Kenyans, over the collapse of CBEX. In Ethiopia, the UAE-based Phoenix Group has allocated additional resources to its Bitcoin mining business.

Explore these headlines from the continent this week.

Africa’s Crypto News: Onafriq Partners with Circle for Continental Payments

That’s what Onafriq, a South Africa-based payment infrastructure provider Partner Sing Use USDC Issuener Circle to streamline cross-border payments across Africa. The network spans 40 countries and connects millions of users. Hottest Presale of 2025.

The partnership introduces USDC’s cross-border settlements, a stable, ridiculous settlement that combines the efficiency of the digital international payments system with the stability of the world’s de facto reserve currency.

African countries often face fragmented payment systems and currencies, leading to bureaucratic international settlements.

This blockchain-based solution offers institutions and individuals faster and more cost-effective options. Stablecoins are the basis of modern crypto trading, combining the convenience of digital currency with the relative stability of a country’s currency.

Discover: Best Meme Coin ICO to Invest Today

Nigeria’s Crypto News: Nigeria targets 8 individuals more than CBEX’s collapse

The recent collapse of Africa’s Crypto Exchange CBEX continues to make headlines as research deepens.

It is found on Nigeria’s Economic and Economic Crime Commission Release The eight suspects, four Nigerians and four Kenyan manhunts were thought to be behind the failed exchange.

CBEX is a fraudulent tactic, and its luxurious promises far outweigh the returns of standard financial markets.

Fraud and fraudulent platforms remain major challenges in the encryption space. Crypto enthusiasts, especially those who have some The best cipher to buyyou should validate the platform and have offers that you think are too good.

Ethiopia Crypto News: Phoenix Group expands Bitcoin Mining Investment

It is owned by Phoenix Group, a mining company based in the UAE. Added Increased the total electricity allocation to 50 MW for Bitcoin mining operations in Ethiopia and increased the total electricity allocation to 130 MW. This expansion cements its position as a major international Bitcoin miner.

New milestones have been achieved!
The Phoenix Group added 52MW of Bitcoin mining capabilities in Ethiopia, bringing global capabilities to over 500 MW, totaling 132MW in five countries.
Clean hydropower enables 90% powered, allowing for scalable and sustainable mining.

New achievements have been achieved! pic.twitter.com/RE7SS6K9RF

– Phoenix Group (@phoenixgroupuae) April 29, 2025

Ethiopia’s abundant hydropower allows the Phoenix Group to access affordable, environmentally sustainable energy. In particular, the company aims to rank it among the top 10 global crypto mining companies, and the investment highlights its commitment to its goals. With more miners, the Bitcoin hashrate is at the highest ever high.

(sauce)

Bitcoin mining in African countries such as Ethiopia and Zambia provides ample renewable energy and viable opportunities. These factors allow large miners to explore emerging markets and generate mutually beneficial investments across the continent.

Discover: 16 Next Cryptocurrency Explosions in 2025: Experts’ Cryptocurrency Prediction and Analysis

Africa’s Cryptography Week after review: onafriq Taps usdc, after eight suspects after Nigeria’s CBEX collapse, the Phoenix Group expanded its Ethiopia Bitcoin mining business, first appearing in 99bitcoins.

The United Nations Office on Drugs and Crime (UNODC) is warning that organized crime syndicates are increasingly leveraging cryptocurrency and blockchain technology to fuel their operations.

According to a new UNODC report, gangs in Southeast Asia are creating tailored financial ecosystems, including unlicensed exchanges and stablecoins, to evade detection and launder illicit money.

“…Many of the region’s largest criminal groups that have expanded within Southeast Asia and a growing number of jurisdictions in other parts of the world have rapidly diversified their business lines towards the development of key infrastructure.

This has extended far beyond the construction and management of physical scam centers to include online gambling platforms and software services, unlicensed payment processors and cryptocurrency exchanges, encrypted communications platforms and, most recently, stablecoins, four blockchain networks, and illicit online marketplaces, often controlled by the same criminal networks.“

The UN also calls for international cooperation and stronger regulatory frameworks to combat and stem the growth of such groups.

“The subtle and ongoing spillover creeping into other regions has allowed Asian crime syndicates to broaden the scope of their operations and target an increasingly diverse range of victim profiles and nationalities from around the world.

More than this, it has allowed them to dramatically scale up profits and influence while simultaneously generating billions in illicit capital reserves (fiat and cryptocurrency) that can be reinvested into further expansion and also utilized to service the money laundering needs of other criminal groups globally.”

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Vladimir Sazonov/Ociaci

The crypto exchange OKX has decided to “temporarily suspend” its decentralized exchange (DEX) aggregator after consulting with regulators.

Traders use data from DEX aggregators to find the best-priced trades across various decentralized exchanges.

OKX’s aggregator has recently come under scrutiny. Last month, hackers stole a staggering $1.4 billion worth of Ethereum (ETH) and Lido Staked Ether (stETH) from the crypto exchange Bybit. Pseudonymous on-chain investigator ZachXBT linked the exploit to the Lazarus Group, an infamous North Korean cybercriminal outfit.

Earlier this month, Ben Zhao, Bybit’s chief executive, said $100 million worth of the stolen ETH was moved through OKX’s web3 proxy.

“Out of them, 16,680 ETH we can trace [and] 23,553 ETH or $65 million (~5%) is untraceable, which requires info from OKX web3 wallet.”

Last week, Bloomberg, citing “people with knowledge of the matter,” reported that European Union (EU) crypto regulators were looking into OKX.

This weekend, OKX said it detected a coordinated effort by the Lazarus Group to misuse its decentralized finance (DeFi) services. In response, the exchange noted that it had made the “proactive decision” to temporarily suspend its DEX aggregator services.

“This move allows us to implement additional upgrades to prevent further misuse. We know that transparency is key, so we’re also working closely with blockchain explorers to correct incomplete labeling. Our goal is to ensure that explorers properly highlight the actual DEX processing trades rather than mistakenly identifying our aggregator as the point of trade.

Beyond that, we’ve already rolled out:

• A hacker address detection system for its Web3 DEX aggregator, which was launched a few days ago.
• A system to track the hacker’s latest addresses and block them in the CEX (centralized exchange) system in real-time…

One thing we want to make absolutely clear: OKX Web3 is a DEX aggregator, not a custodian of customer assets.”

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The chief executive of Coinbase says that the crypto exchange is planning to hire 1,000 new employees in the US this year.

In a new thread on the social media platform X, Coinbase CEO Brian Armstrong says the firm is going on a hiring spree after hearing what regulators had to say about the digital assets industry at the White House Crypto Summit.

According to Armstrong, President Donald Trump’s signing of an executive order last week to create a strategic Bitcoin (BTC) and crypto reserve will lead to an economic boom for the US, one that Coinbase plans to be ready for.

“President Trump has breathed life back into the crypto industry. Coinbase is planning to hire about 1,000 people here in the United States this year as a direct result of his actions… These policies really matter. This is also the most pro-crypto Congress we’ve ever seen as well…

We’re going to see if we can get some legislation passed as the next step. There’s already stablecoin legislation being drafted in the House and the Senate, there’s market structure legislation that will help clarify which of these crypto assets are commodities, securities, payment tokens or something else like artwork.

And I think we can get the strategic Bitcoin reserve that got announced [earlier] codified into law.”

Last week, Trump named Bitcoin, Ethereum (ETH), Solana (SOL), XRP (XRP) and Cardano (ADA) as potential reserve assets, causing the markets to briefly rally.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney