CZ posts tribute to Arthur Hayes, expressing regret over BitMEX's shutdown, noting that the exchange pioneered 100x leverage crypto contracts as early as 2014.

Beating AI News Flash: Tailwind Labs has announced it is joining Shopify. Tailwind CSS will remain open-source, with its MIT license unchanged; its paid component library and AI frontend tools will stop onboarding new users. Tailwind currently boasts over 110 million weekly installations, but AI coding tools are driving more developers to generate code directly instead of accessing the official documentation. In January this year, founder Adam Wathan revealed that Tailwind’s documentation traffic fell by roughly 40%, revenue plummeted by nearly 80%, and the company laid off three-quarters of its engineering team. Now with Shopify taking over, this open-source project, which has surged in popularity in the AI era, has finally secured a long-term backer.

According to official announcements, U.S. Bank has issued its own U.S. dollar stablecoin USBDC on the Stellar blockchain, and used this stablecoin to complete a real cross-border payment between entities in North America and Europe. The pilot transaction was conducted on the Stellar network while remaining connected to the bank’s existing financial, risk, compliance, and operational systems. The test also verified core functions of USBDC, including minting, payment redemption, freezing, and clawback. U.S. Bank noted that this pilot also validated its in-house developed digital asset platform, which is used to issue, manage, and transfer tokenized assets and bridges traditional banking infrastructure with blockchain networks.

Payment giant MoneyGram is launching a stablecoin-backed card that allows customers to make purchases at merchants accepting Visa. The card will first roll out in Colombia, with plans to expand to other markets in the coming months. Users can register via the MoneyGram app, add the digital card to their mobile wallet, and use it for online or in-store transactions. They can also send money to themselves and withdraw cash in local currency at MoneyGram locations. Initially, the card will support Circle’s USDC, followed by MoneyGram’s own stablecoin MGUSD. MoneyGram says a physical version of the card, which will also support ATM withdrawals, is scheduled to launch later this year. The card is developed in collaboration with stablecoin payment firm Rain, wallet provider Crossmint, and the Stellar blockchain.

Beating AI Express: Software holding firm Bending Spoons, which specializes in acquiring and long-term operating software, has agreed to acquire AI collaborative whiteboard platform Miro, with the transaction expected to close in the fourth quarter of this year. Miro was once valued at a staggering $17.5 billion in 2022, but the equity value tied to this deal is now only around $1.79 billion, a nearly 90% plunge. Miro’s sky-high valuation back then aligned with the pandemic-fueled boom in remote work demand. Since then, the remote collaboration software sector has cooled significantly, and enterprises have grown increasingly cautious about spending on such tools. Miro currently has nearly 4 million paid users, with annual recurring revenue (ARR) of roughly $600 million, nearly 90% of which comes from enterprise clients. Bending Spoons completed its acquisition of Airtable just last week. After previously purchasing products including Evernote, WeTransfer, and Vimeo, the firm raised prices and cut staff at some of these assets. Some members of Miro’s community worry that similar adjustments will soon be applied to Miro.

Aave founder Stani Kulechov has issued a statement noting that he submitted comments to HM Revenue & Customs (HMRC), recommending improvements to the tax treatment of crypto asset mortgages and stablecoins, and proposing that stablecoins be included in Individual Savings Accounts (ISA). This would allow millions of UK ISA users to potentially enjoy tax benefits when lending stablecoins in the future.

Glassnode said in a report that Bitcoin (BTC) is currently capped by a long-term holder supply wall around $83,000–$85,000, yet investors are still accumulating BTC at current price levels. The on-chain analytics firm added that if BTC breaks below this emerging dense supply zone, the next key support level to monitor is $75,000; a further downturn could even see a full pullback to roughly $60,000, it noted. BTC faces notable cost-based resistance in the $83,000–$86,000 range, where long-term holders have acquired around 1.07 million BTC, with the densest cost cluster sitting near $85,000.