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AI Reasoning Startup General Compute Secures $400 Million Loan Backed by ASIC Chips for Inference
: AI reasoning cloud startup General Compute has obtained a $400 million loan from Upper90. This deal is the world’s first financing project to use dedicated inference chips as collateral. The company has built a proprietary AI reasoning cloud platform based on SambaNova’s self-developed ASIC chips, primarily targeting Agent-type AI computing workloads. Compared to traditional GPU clouds, it offers faster token processing speeds and lower operational latency. The hardware requires no water cooling and can be directly deployed in traditional data centers and idle cryptocurrency mining facilities.
Backed
based
GPU.Net
Inference
Node AI
Startup
Pakistan's Crypto Regulator Pushes for Distinction Between Speculative Cryptocurrencies and Asset-Backed Tokens
Bilal bin Saqib, Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), has requested Jamia Darul Uloom Karachi to clarify the distinction between speculative cryptocurrencies and asset-backed digital tokens, following the religious institution’s ruling that cryptocurrency-based purchases are not compliant with Islamic law. The ruling pertains to a consultation on using cryptocurrencies to pay for books and online course fees. Waqas Ghani, Head of Research at JS Global Capital, stated that the ruling could hinder bank-led cryptocurrency adoption in Pakistan, but trading volumes have not yet been affected. Saqib stated that PVARA is working with scholars to evaluate digital assets by category, rather than treating them as a single class. He noted that blockchain-recorded Sukuk represent ownership of real income-generating assets, while gold-backed tokens and fully-reserved stablecoins correspond to redeemable value. He added that speculative tokens without underlying assets fall into a different category, and scholars' concerns must be taken seriously. PVARA will continue to collaborate with scholars as it develops a licensing framework in Pakistan and advances efforts in stablecoins and the tokenization of real-world assets.
Backed
based
Bitcoin Treasury Capital Approved to List Sweden's First BTC-Backed Preferred Stock
BitcoinTreasuries.NET posted on X platform, stating that Bitcoin Treasury Capital has been approved to list Sweden's first BTC-backed preferred stock, BTC PREF, on the Spotlight Stock Market, offering a 10% annual dividend, with trading set to begin on July 20.
Backed
Bitcoin
Bitcoin Treasury Capital
Market
Spotlight
Spotlight
ORANGE JUICE Completes $40 Million Financing, Launches Bitcoin-Backed Permanent Capital Company
According to PR Newswire, U.S. permanent capital company ORANGE JUICE (@orangejuice_btc) announced the completion of a $40 million financing round, committed to acquiring, improving, and holding U.S. small and medium-sized enterprises long-term, while using Bitcoin as a treasury reserve. The company was founded by core members of ego death capital, including Jeff Booth, Lyn Alden, Nico Lechuga, and Andi Pitt, among others. Mexican billionaire and Grupo Salinas founder Ricardo Salinas participated as an anchor investor. Unlike traditional private equity, ORANGE JUICE is not limited by fund cycles, focusing on the long-term operational health of enterprises. Initially, it will acquire stable profitable enterprises with annual cash flow between $1 million and $10 million. Business cash flow will be used for reinvestment in acquisitions or to replenish the Bitcoin treasury. The company plans to seek a public listing in the future.
Backed
Bitcoin
Company
Jeff
Juice Finance
Ethereum Foundation Privacy Team Spins Off, EthSystems Backed by Lubin, Bitmine, and Other Institutions
Ethereum Foundation Institutional Privacy Task Force core members Mo Jalil, Oskar Thorén, and Aaryamann Challani co-founded the for-profit company EthSystems, officially spun off from the Ethereum Foundation to operate independently.
Backed
Ethereum
Foundation
Foundation
以太坊基金会
BlackRock, Goldman Sachs, JPMorgan Chase, and 54 other institutions join the UK tokenized financial markets working group
the UK government is accelerating the tokenization of its financial markets. 54 financial institutions, including BlackRock, Goldman Sachs, JPMorgan Chase, HSBC, and UBS, have joined the Wholesale Digital Markets Working Group supported by HM Treasury.Backed by the City of London Corporation, the working group will explore real-world tokenization use cases in the UK financial markets over the next year, with an initial focus on tokenised repurchase agreements (tokenised repo).Chris Woolard, the HM Treasury’s lead on wholesale digital markets, stated in a report that the tokenized financial market represents a "network race" and that the UK must move at the fastest possible pace, or risk missing the opportunity to participate in the global digital financial infrastructure buildout. (CoinDesk)
Backed
CoinDesk
Treasury
摩根大通
贝莱德
Metaplanet, Holding 43,000 BTC, Researches Bitcoin-Backed Digital Bonds
on July 10, 2026, Metaplanet announced a joint research initiative with JPYC, Progmat, and Metaplanet Securities to explore Bitcoin-backed digital credit products. The plan involves using Bitcoin as collateral for tokenization tools, including settlements via a yen-pegged stablecoin and digital corporate bonds managed by security tokens. As of the end of the second quarter of 2026, Metaplanet held approximately 43,000 BTC, valued at $2.75 billion based on Saturday's BTC exchange rate. Metaplanet stated that the research has not yet yielded a product, and no issuance date, interest rate, product structure, or sales method has been determined. Its 43,000 BTC holdings have not been staked to any specific product at this stage. (Bitcoin.com News).
Backed
based
Bitcoin
Bitcoin.com
JPYC
Metaplanet
UK FCA and Central Bank Advance Crypto Regulatory Rules, Remove Limits on Fiat-Backed Stablecoin Holdings
the UK Financial Conduct Authority finalized crypto rules last month, providing guidance on capital requirements, admission and disclosure, and a broader conduct framework for crypto firms.The Bank of England has removed previously proposed limits on holdings of fiat-backed stablecoins and reduced the reserve requirement that issuers must hold at the central bank from 40% to 30%. The stablecoin proposal put forward in November 2025 had restricted individual holdings of systemic sterling stablecoins to no more than £20,000 and corporate holdings to no more than £10 million. (CoinDesk).
Backed
CoinDesk
Metaplanet, JPYC, and Progmat Launch Joint Research on Bitcoin-Backed Digital Credit Products
Metaplanet, JPYC, and Progmat have initiated a joint research study on Bitcoin-backed digital credit products that support round-the-clock trading and daily interest accrual. (Solid Intel)
Backed
Bitcoin
Joint
JPYC
Metaplanet
Jack Mallers' Strike Launches "Volatility-Proof" Bitcoin-Backed Loans, Claiming No Liquidation from Price Drops
: Strike, founded by Jack Mallers, has launched a new Bitcoin-backed mortgage loan product, with a key selling point being the avoidance of forced liquidation triggered by declines in BTC price. Strike states that as long as borrowers make timely repayments, regardless of how deep the Bitcoin price drops, the collateralized BTC will not be moved or liquidated.In a post on X, Mallers stated that the product has no margin call requirements and no price-based liquidation mechanism, allowing users to borrow US dollars while continuing to hold their Bitcoin. He noted that volatility is inevitable, but liquidation is not.Strike said the new loan product eliminates price-triggered actions linked to the loan-to-value (LTV) ratio, so borrowers do not have to worry about automatic liquidation due to a drop in BTC price. As long as interest and due payments remain current, the collateral will remain untouched.
Backed
based
Bitcoin
Price
Proof
Strike
STBL Launches RWA-Backed Stablecoin USST on Stellar
on July 1, 2026, STBL launched the institution-grade stablecoin USST on the Stellar network. This stablecoin is backed by real-world assets, with the initial minting collateral being the tokenized Treasury bill USDY. USST is built on STBL's Stablecoin 2.0 infrastructure, allowing market participants to deposit eligible real-world assets, such as tokenized Treasury bills or money market funds, to mint USST. It supports settlement, collateral liquidity, and cross-border payments. STBL plans to add Franklin Templeton's BENJI as a second collateral option but has not yet set a date for the BENJI collateral integration, nor has it disclosed the initial minting size of USST on Stellar.
ALLO
Backed
Benjamin
Franklin
Franklin Templeton
RWA Inc.
Brian Armstrong: The U.S. Constitution Lacks a Government Spending Growth Cap and a Hard Asset-Backed Currency Requirement
Brian Armstrong posted on X platform, stating that the U.S. Constitution is the most important political innovation in history, but it lacks two crucial elements: a cap on government spending growth and a requirement for a hard asset-backed currency. Without these two elements, every democracy tends toward more debt and eventually loses its reserve currency status, as seen in The Changing World Order. The U.S. national debt stands at $39 trillion and is increasing by approximately $1 trillion every 100 days. Currently, interest payments have exceeded the defense budget, and the existing mechanisms cannot stop this trend. Politicians get elected by promising free benefits funded by other people's money. Some voters benefit in the short term, while the negative impacts of spending are borne by future generations who have no voting rights. The incentive structure is already broken. Solutions include drafting new constitutions in frontier areas such as Mars, special economic zones, and cyberspace; adjusting incentive structures in existing systems through amendments, though this is politically challenging; or outpacing inflation through ultra-high economic growth driven by AI, robotics, and cryptocurrency.
Backed
Brian
Cap
Mars
Mars
Mars
Bank of Thailand Advances 1:1 Thai Baht-Backed Stablecoin Plan, Public Hearing Expected Before End of Year
According to The Bangkok Post, the Bank of Thailand is advancing a stablecoin plan pegged 1:1 to the Thai Baht and is expected to hold public hearings before the end of this year.
Backed
Public
Kraken Partners with Maple to Launch On-Chain Credit Vault Facility, Expanding Institutional Crypto-Backed Lending
According to The Block, Kraken has partnered with the on-chain institutional lending platform Maple to launch an on-chain warehousing facility for digital asset-backed loans. This facility will provide USDC liquidity to Kraken’s OTC lending clients, enabling borrowers to use crypto assets such as BTC and ETH as collateral.
Backed
Bitcoin
Block
Chain
Circle
Ethereum
ETF Store President: Roubini Participates in Atlas Capital’s Plan to Launch ETF-Backed Digital Token
: ETF Store President Nate Geraci posted on the X platform that Atlas Capital, with the participation of "Dr. Doom" Nouriel Roubini, is planning to launch a digital token backed by US-listed ETFs.Nate Geraci quoted relevant statements as saying, "Bitcoin and other cryptocurrencies are not real currencies. We need better collateral, higher-quality reserve assets, and more reliable stores of value."Geraci believes that, given Roubini's long-standing critical stance on cryptocurrencies, his involvement in launching a digital asset-related product carries significant symbolic importance and represents a noteworthy industry trend.
Atlas
Atlas
Atlas
Atlas
Atlas
Atlas
Coinbase: First Real 1:1 Backed Tokenized Stocks Coming Soon
Coinbase announced on the X platform that the first batch of real, 1:1 backed tokenized stocks is coming soon. Users will be able to hold actual tokenized stocks of U.S. companies, and trade, hold, and redeem them on-chain while automatically receiving dividends. This product is neither a derivative nor an IOU.
Backed
Coinbase
Bitget Wallet Opens SpaceX Tokenized IPO Subscription—$10 Minimum Investment, No Threshold
Bitget Wallet has opened the first subscription for SpaceX’s tokenized IPO stock, SPCXx, with a total quota of $3 million. The minimum subscription amount is $10 per user, and the maximum per user is $5,000—on a first-come, first-served basis. SPCXx is issued by xStocks, a tokenized stock trading platform. The subscription price is $135, and underwriters will charge an additional 5% fee. Subscriptions open at 4:00 PM Beijing Time on June 9 and close at 4:00 PM Beijing Time on June 11. Upon completion of the subscription period, SPCXx tokens will be automatically sent to users’ wallets, with distribution expected to be finalized by 8:30 PM Beijing Time on June 12. This subscription requires no overseas brokerage or exchange accounts, VIP tier, or holding prerequisites. Users may pay directly using stablecoins—including USDT and USDC—on Base, Ethereum, BNB Chain, Solana, and TRON. The SpaceX tokenized IPO operates via xStocks—a collaboration between Bitget Wallet and Backed. The tokenized stocks issued are fully backed 1:1 by underlying assets held by Backed. Note that the $135 subscription price is not the final fixed issuance price; the final IPO price will be determined by the issuer and underwriters based on a comprehensive assessment of order book demand, market conditions, and valuation factors. During the subscription period, users typically see only a reference price.
Backed
Base
based
Binance
Bitget
Bitget Wallet
Coinbase and Cardless Launch Stablecoin-Backed Credit Card
Coinbase, in partnership with Cardless, has launched a credit card backed by stablecoins, primarily targeting users who hold digital assets but are unable to obtain credit cards through traditional channels. Applicants are required to pledge a portion of their USDC holdings as collateral. (CoinDesk)
Backed
Circle
Coinbase
CoinDesk
Circle Launches cirBTC, Ethereum Adds 1:1 Bitcoin-Backed Wrapped Asset
According to an official announcement, Circle has launched cirBTC on Ethereum. cirBTC is a wrapped Bitcoin asset backed 1:1 by native BTC and can be used in on-chain financial applications such as lending protocols, over-the-counter (OTC) trading, market making, treasury management, and settlement—enabling institutions to use their BTC as collateral without selling it.
Backed
Bitcoin
Circle
Ethereum
Wrapped
Bitcoin Treasury Capital Announces the Launch of Sweden's First BTC-Backed Preferred Stock, BTC PREF, with an Annual Dividend of 10%
Bitcoin Treasury Capital has just announced the launch of Sweden's first BTC-backed preferred stock, BTC PREF, offering an annual dividend of 10%. Trading is expected to commence on July 20 on the Spotlight Stock Market. The issuance is anticipated to raise $2.5 million to purchase additional BTC. (BitcoinTreasuries.NET)
Backed
Bitcoin
Bitcoin Treasury Capital
Market
Spotlight
Spotlight