Latest news with #Tron
Yahoo
5 hours ago
- Business
- Yahoo
Coinbase, Circle, SRM lead stock rally as Trump cheers GENIUS Act in another dream week for crypto
It was another dream week for the crypto world. Here's what happened. A few days back, the Senate passed a bill that would establish a federal framework for dollar-backed cryptocurrencies known as stablecoins. While this bill, known as the GENIUS Act, still needs approval from the House and President Trump, its swift progress has already been lauded by the crypto industry as a major step toward opening the doors for stablecoins to be used more widely in traditional financial services. Meanwhile, shares of Circle (CRCL), issuer of the world's second-largest stablecoin (USDC), is up more than 77% through the week. In total, the stock is up more than seven times its initial June 5 IPO price. Major US crypto exchange and crucial Circle partner Coinbase Global (COIN) has also ridden the wave, climbing more than 25% through the week. Coinbase owns a minority stake in Circle and also earns a share of revenue from Circle's USDC. Read more: Can you buy crypto with a credit card? But nothing compares to the weekly rise of little-known Winter Park, Fla.-based theme park and entertainment industry merchandiser SRM Entertainment (SRM), which is up roughly 777% since announcing on June 16 that it had struck a deal with crypto platform Tron to begin purchasing Tron tokens, rename itself Tron Inc., and bring on Tron founder Justin Sun as an adviser. President Trump joined the fun too. A day after the GENIUS Act passed in Congress's upper chamber by a vote of 68-30, the president, in a post, called the legislation 'an incredible Bill that is going to make America the UNDISPUTED Leader in Digital Assets.' No secret why the president is so cheery. As the crypto world has been racking up wins in Washington this year, Trump and his family have deepened their ties with the industry. (See chart below.) Corporations tied to Trump or his family have ventured into everything from issuing memecoins and dollar-backed stablecoins to mining bitcoin. After announcing a $2.5 billion fundraise to purchase cryptocurrencies, Trump Media and Technology Group (DJT) was declared effective a week ago by the SEC to issue equity and debt to begin buying and holding bitcoin. In an updated financial disclosure published a week ago, the president reported earning $57 million last year from his ownership of tokens tied to World Liberty Financial, a decentralized finance project that lists him and his sons as advisers. Led by CEO Zach Witkoff, son of Steve Witkoff, the president's envoy to the Middle East, that same venture launched a stablecoin earlier this year that was chosen as the payment method for UAE sovereign wealth fund MGX to deliver $2 billion in fundraising to crypto exchange Binance. Its founder, Changpeng Zhao, has been seeking a pardon, according to a Wall Street Journal report. Earlier this month, the SEC announced the dismissal of an ongoing civil enforcement action against Binance entities and Zhao filed in June 2023 that alleged securities violations. Tron founder Sun is also a big backer of two crypto ventures tied to the president. As the largest holder of Trump's memecoin, Sun attended an exclusive dinner hosted at Trump's Virginia golf course last month. Before that, he poured $75 million into World Liberty tokens. Crypto's success in D.C., with President Trump and the passage of the GENIUS Act, has been cheered in the crypto world as a 'watershed moment that signals digital assets are now a part of the financial fabric,' said Yat Siu, executive chairman of Hong Kong-based crypto developer and venture firm Animoca Brands. 'The bill's bipartisan support gives stablecoin issuers, including banks, tech, and gaming companies, the green light to innovate within a clear regulatory framework.' The Trump administration has been telegraphing its desire to see the stablecoin market grow. Last week, Treasury Secretary Scott Bessent told lawmakers that this legislation could help push the US stablecoin market beyond $2 trillion by the end of 2028. Because the GENIUS Act requires companies issuing stablecoins to hold $1 in cash or short-term US Treasurys for every $1 in stablecoins they give out, the stablecoin market's growth is expected to mean more demand for US debt obligations. Recent analyst estimates from Standard Chartered and Morgan Stanley put the stablecoin market's current US Treasury holdings between $166 billion and just under $200 billion. But the bill was not without some criticism. Some Democrats, including Sen. Elizabeth Warren, have expressed their frustration with their inability to get through amendments to the bill that would bolster consumer protections — and specifically bar the president and his family from having ties to businesses that would benefit from the legislation. "The GENIUS Act has a major loophole allowing Big Tech companies and major retailers to issue their own private currencies structured as stablecoins," Warren said ahead of the bill's passage. "This bill shouldn't pass without amendments preventing these risks," she added. David Hollerith is a senior reporter for Yahoo Finance covering banking, crypto, and other areas in finance. Click here for in-depth analysis of the latest stock market news and events moving stock prices
New York Post
a day ago
- Entertainment
- New York Post
Home closest to the iconic Hollywood sign lists for $2.25M
If location is everything in real estate, then 6105 Mulholland Highway may have just taken home the crown. Nestled into the hillside of Beachwood Canyon and perched just beneath the towering white letters that spell 'Hollywood,' this A-frame chalet isn't just close to the famous sign — it's the closest residence to it, The Post has learned. Listed for $2.25 million with Christopher Soffer and Trenton Armitage of The Beverly Hills Estates, the midcentury hideaway offers something few properties can: front-row views of the cultural landmark that has defined Los Angeles for a century. Advertisement 'It is extremely limited,' Soffer told The Post. 'Being the closest house to the Hollywood sign in the world is as limited as it gets.' 17 Located at 6105 Mulholland Highway, the 1963 chalet-style property sits at the end of a private road in L.A.'s Beachwood Canyon and is surrounded by untouched wilderness. Lawrence Fitz-Simon Built in 1963 and tucked at the end of a private road, the three-bedroom, 2,500-square-foot home will be the first time it will hit the market in almost 40 years. Advertisement 'It's perched up in the trees, almost like a tree house,' Soffer said. 'You have this sense when you're there that you really feel like you're entrenched in this lifestyle and this period of time that seems to have faded away with the modern age.' 17 The foyer. Lawrence Fitz-Simon 17 The current owners, digital artists Jeffrey Kleiser and Diana Walczak, are selling the home as part of a broader real estate consolidation. Lawrence Fitz-Simon 17 The kitchen and breakfast nook. Lawrence Fitz-Simon Advertisement The chalet is a rarity in both style and setting. Its A-frame design — uncommon in Los Angeles — is clad in wood inside and out, creating a cabin-in-the-woods ambiance in the middle of one of the city's most iconic neighborhoods. 'There's tons and tons of wood,' Soffer said. 'You kind of also feel like you're in a cabin in the woods, which is beautiful because the entire A-frame is essentially made out of wood.' The home's current owners, digital effects pioneer Jeffrey Kleiser and sculptor Diana Walczak, have used the space as both residence and creative incubator. Walczak, best known for sculpting the Michael Jackson HIStory statue and designing its digital version for the album cover, and Kleiser, whose credits span 'Tron' to 'X-Men,' are consolidating their property portfolio, according to Soffer. Advertisement 17 The home has hosted a slew of artists over the years. Lawrence Fitz-Simon 17 Walczak is best known for sculpting Michael Jackson's HIStory statue, while Kleiser's visual effects work includes 'Tron' and 'X-Men.' Lawrence Fitz-Simon 17 The three-bedroom home has played host to numerous artists and musicians, including The Association, the 1960s band featured in Linda McCartney's photography book, 'The Sixties.' Lawrence Fitz-Simon 'They've absolutely loved living there and they are creatives themselves,' Soffer said. 'They've actually recorded in that house, numerous bands over the years.' One of the most famous is The Association, the 1960s band behind hits like 'Cherish' and 'Windy.' Their connection to the property earned it a cameo in Linda McCartney's photography book, 'The Sixties.' The home's creative legacy doesn't stop at music, and has quietly played host to artists, sculptors and filmmakers over the decades. 'That place kind of attracts a very interesting crowd and has a very interesting creative energy to it,' Soffer said. 17 Nearly every surface inside the house is clad in wood, giving it the feeling of a forest cabin, while expansive rooftop decks offer panoramic views of downtown Los Angeles on one side and the towering Hollywood sign on the other. Lawrence Fitz-Simon Advertisement 17 'It's perched up in the trees, almost like a treehouse,' said listing agent Christopher Soffer. Lawrence Fitz-Simon 17 Despite its fame-adjacent location, the home has remained surprisingly peaceful, with the owners reporting no issues from tourists or passersby. Lawrence Fitz-Simon 17 It has also performed well as a short-term rental, earning spots in Travel + Leisure and the Emmy-winning show Staycation. Lawrence Fitz-Simon Though it's tucked into the hills, the property is not without modern acclaim. It has been featured on 'Staycation,' the Emmy-winning travel show, and was recognized by Travel + Leisure as one of California's best Airbnbs. Advertisement The owners even produce 'Hollywood Honey' on the premises, courtesy of a small hillside apiary tended by a local beekeeper. The house's positioning on the ridge yields dual vistas: the Hollywood sign at its back and sweeping views of downtown L.A., Griffith Park, and — on clear days — the Pacific Ocean at its front. 'When you are building on a site like that, the Hollywood sign is as direct as it gets,' Soffer said. 'When you're sitting on either of the rooftop decks, all you can see is the Hollywood sign… and on the front of the house, you have these panoramic views of the city.' 17 The property even features a honeybee colony producing 'Hollywood Honey' on a hillside perch. Lawrence Fitz-Simon Advertisement 17 The surrounding land is protected from overdevelopment, with only one neighboring lot eligible for construction. Lawrence Fitz-Simon 17 Soffer described the home as a rare architectural gem, especially in a city where A-frame homes are uncommon. Lawrence Fitz-Simon The listing also marks a nod to the roots of the surrounding area. 'Originally, Beachwood Canyon was built by a single guy and he had done it because he wanted to create a neighborhood that was perfect for Hollywood and studio production,' Soffer said. 'When they first built the Hollywood sign, it was actually almost like an advertisement for the neighborhood.' Advertisement At the time, the sign was even illuminated at night — a touch of glamor that has since disappeared. 'They actually used to have lights on the Hollywood sign, believe it or not,' Soffer said. 'I would love to see that today, but I think it might be a little bit too bright for the current landscape of the neighborhood.' Despite its proximity to a tourist magnet, the property offers peace and privacy. 17 'Being the closest house to the Hollywood sign in the world is as limited as it gets,' he said. Lawrence Fitz-Simon 17 A hot tub. Lawrence Fitz-Simon 17 One of four bedrooms. Lawrence Fitz-Simon 'They said everyone is so enamored by the sign, everyone's in such a good mood when they're up there,' Soffer said of the owners. 'They've never had any issues with break-ins or trespassing or anything like that over the years.' There's little risk of competition either: 'To the right of the property, if you're facing the property, there's only one other lot that can be developed,' Soffer noted. 'As of now, there's nothing on it. It's just a raw piece of land. And beyond that, it's pure wilderness.' It's that blend of exclusivity, architectural significance, and Hollywood history that Soffer believes makes the home one-of-a-kind. 'The architectural community loves these types of houses — A-frame houses,' he said. 'They aren't typical for Los Angeles, and when they do pop up, it's something to be cherished.'
Economic Times
2 days ago
- Business
- Economic Times
Israel is not only bombing Iran, but hackers have also emptied Iran's largest exchange
Hackers, reportedly linked to Israel, have stolen approximately $81 million from Nobitex, Iran's largest cryptocurrency exchange. The group, Gonjeshke Darande, claimed responsibility, citing Iran's use of the platform to circumvent sanctions and fund terrorism. Nobitex has suspended operations and pledged to reimburse affected users, while the hackers threaten to leak sensitive data. Tired of too many ads? Remove Ads Hackers warning Tired of too many ads? Remove Ads FAQs Hackers linked to Israel have stolen money from Iran's biggest crypto exchange called Nobitex. Nobitex announced on X, June 18 that someone got into part of its system without permission and took money from their "hot wallet." The hackers only took money from some hot wallets, not from the "cold storage," so most users' assets are still safe, according to the report by said it will pay back all the affected users using its insurance fund and company resources. Because of the hack, Nobitex's website and app are currently down. A hacker group called Gonjeshke Darande , also known as Predatory Sparrow, said they did the attack. This group is linked to Israel, as per hackers threatened to leak Nobitex's secret computer code and internal info within 24 hours. The hackers said they attacked Nobitex because Iran uses it to break sanctions and "finance terror." This same group had earlier hacked data from Iran's Islamic Revolutionary Guard Corps bank called 'Bank Sepah', as stated by to reports, crypto expert ZachXBT wrote on Telegram that Nobitex lost about $81 million through suspicious transfers on Tron and Ethereum networks. The hacking group confirmed ZachXBT's $81 million theft claim in their next message. Iran uses cryptocurrency to fight Western economic sanctions that it calls 'terrorism.'Many Bitcoin traders like Iran because electricity is cheap, especially after China cracked down on has a lot of oil and gas but struggles to use global financial markets because of sanctions, as reported by $81 million was stolen, mostly from Ethereum and Tron wallets. (ZachXBT via Telegram)The group is called Gonjeshke Darande and is linked to Israel.
Time of India
2 days ago
- Business
- Time of India
Israel is not only bombing Iran, but hackers have also emptied Iran's largest exchange
Hackers linked to Israel have stolen money from Iran's biggest crypto exchange called Nobitex. Nobitex announced on X, June 18 that someone got into part of its system without permission and took money from their "hot wallet." The hackers only took money from some hot wallets, not from the "cold storage," so most users' assets are still safe, according to the report by TheStreet. Nobitex said it will pay back all the affected users using its insurance fund and company resources. Because of the hack, Nobitex's website and app are currently down. A hacker group called Gonjeshke Darande , also known as Predatory Sparrow, said they did the attack. This group is linked to Israel, as per reports. Hackers warning The hackers threatened to leak Nobitex's secret computer code and internal info within 24 hours. The hackers said they attacked Nobitex because Iran uses it to break sanctions and "finance terror." This same group had earlier hacked data from Iran's Islamic Revolutionary Guard Corps bank called 'Bank Sepah', as stated by TheStreet. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top 5 Dividend Stocks for May 2025 Seeking Alpha Read Now Undo According to reports, crypto expert ZachXBT wrote on Telegram that Nobitex lost about $81 million through suspicious transfers on Tron and Ethereum networks. The hacking group confirmed ZachXBT's $81 million theft claim in their next message. Iran uses cryptocurrency to fight Western economic sanctions that it calls 'terrorism.' Many Bitcoin traders like Iran because electricity is cheap, especially after China cracked down on has a lot of oil and gas but struggles to use global financial markets because of sanctions, as reported by TheStreet. Live Events FAQs Q1. How much money was stolen from Nobitex? Around $81 million was stolen, mostly from Ethereum and Tron wallets. (ZachXBT via Telegram) Q2. Who are the hackers behind the Nobitex attack? The group is called Gonjeshke Darande and is linked to Israel.
Yahoo
2 days ago
- Business
- Yahoo
Hackers linked to Israel just emptied Iran's largest exchange
Hackers linked to Israel just emptied Iran's largest exchange originally appeared on TheStreet. Nobitex, the largest crypto exchange in Iran, announced on June 18 that it has detected unauthorized access to a portion of its reporting infrastructure and hot wallet. The incident affected only a portion of the assets in hot wallets, and users' assets are completely secure as per cold storage standards, the exchange told its users on X. All affected users will be compensated through the insurance fund and Nobitex resources, it added. For now, the crypto exchange's website and app are temporarily unavailable. The hacking group Gonjeshke Darande, also known as Predatory Sparrow, claimed responsibility for the attack. Reports have linked the group to Israel. The group threatened to release Nobitex's source code and internal information within 24 hours. The Iranian regime uses the crypto exchange to violate sanctions and "finance terror," the group claimed as the reasons behind the attack on Nobitex. Gonjeshke Darande earlier claimed responsibility for another cyberattack on the data of the Islamic Revolutionary Guard Corps' 'Bank Sepah.' Popular on-chain sleuth ZachXBT wrote on Telegram, 'The Iranian crypto exchange 'Nobitex' appears to have been exploited for $81 million across Tron and Ethereum-based network after suspicious outflows were observed from many wallets linked to them.' The hacking group's next post confirmed ZachXBT's claim. As reported earlier, Iran has relied on crypto as a source of fighting Western economic "terrorism." The country is also a popular choice for Bitcoin traders, with several Chinese firms moving there due to relatively cheap electricity and China's crypto crackdown. Iran has an abundance of oil and natural gas resources but has struggled to access global financial markets. Hackers linked to Israel just emptied Iran's largest exchange first appeared on TheStreet on Jun 18, 2025 This story was originally reported by TheStreet on Jun 18, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
