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ASIC Extends Financial Product Rules to Stablecoins and Tokenized Assets
The Australian Securities and Investments Commission has issued guidance bringing stablecoins, wrapped tokens, tokenized securities, and digital wallets under existing financial product regulations. Service providers must obtain a financial services license by June 30, 2026, under a temporary no-action relief program. The move follows industry consultation and builds on national efforts to strengthen crypto market oversight.
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OceanPal Closes $120 Million PIPE to Fund NEAR-Based AI Infrastructure Company
OceanPal, Inc. (NASDAQ: OP) has completed a $120 million private investment in public equity transaction through common stock and pre-funded warrants. The proceeds will establish SovereignAI, a digital asset treasury company focused on commercializing NEAR Protocol and developing blockchain-native AI-cloud infrastructure using NVIDIA technology, according to a press release. Investors in the offering included Kraken, Proximity, Fabric Ventures, and G20 Group.
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10-29
Trump Organization Reports $864M Revenue in First Half of 2025, 90% From Crypto Token Sales
The Trump Organization generated $864 million in income during the first six months of 2025, a sharp increase from $51 million in the same period the previous year, according to a Reuters investigation. Cryptocurrency token sales accounted for over 90% of total revenue, with World Liberty Financial tokens contributing $463 million and $TRUMP meme coins adding $336 million. World Liberty Financial, launched in September 2024 as a decentralized finance platform, has not yet delivered its promised peer-to-peer finance system.
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