Bitcoin Holds Near $64K as SpaceX Buys Cursor for $60B, Circle Slides 27% Post-IPO

Crypto News

SpaceX has agreed to acquire Anysphere, the parent company of AI coding platform Cursor, in a deal valued at roughly $60 billion, with completion expected in the third quarter. The transaction marks a dramatic reversal for Cursor, which had ceded ground earlier this year to rival agentic coding tools and was written off by some observers as a fading platform. Through the deal, Cursor gains access to SpaceX's Colossus supercomputer cluster and its vast GPU resources — the same infrastructure that already supplies compute to firms including Alphabet. The two companies are jointly building a new coding model destined for both Cursor and Elon Musk's Grok Build service.

Circle Internet Group closed its latest session at $80.46, leaving the issuer roughly 27% below its June IPO price and more than 73% beneath its 52-week high of $298.99. The stock has struggled to establish an uptrend since listing, trading in a wide intraday range and slipping to $79.90 in after-hours dealing. The pullback followed a fresh analyst coverage initiation that markets received cautiously. Circle's USDC remains a cornerstone of the crypto economy, and unlike algorithmic stablecoins it is fully reserve-backed; the firm stands to benefit from pending U.S. legislation that would clarify the framework for dollar-pegged tokens and lower barriers for institutional adoption. Read more on algorithmic stablecoins.

U.S. bond markets have swung sharply toward an inflation watch after Federal Reserve Chair Kevin Warsh used his first press conference to stress price stability and leave the door open to further tightening. The two-year Treasury yield posted its largest jump since the FOMC meeting in over a year, as traders began pricing the possibility of rates staying higher for longer or even another hike. Half of FOMC members now project an additional increase this year, a stark shift from March, when none did. Attention turns to Thursday's core PCE inflation print, which economists expect to climb to 4.1% from 3.8% the prior month.

The Financial Action Task Force has again designated North Korea a high-risk jurisdiction, extending the country's standing as a top target for international financial scrutiny since 2011. At its plenary in Paris, the global watchdog grouped North Korea, Iran and Myanmar as states with serious structural deficiencies, with North Korea and Iran subject to countermeasures. Notably, the agenda gave prominence to how virtual assets and decentralized finance are being exploited by criminals, with member states reviewing reports on crypto-standards implementation and DeFi risk. The decision signals that anti-money-laundering rules are increasingly aimed at digital assets and cross-border scam networks rather than traditional banking alone.

A wave of unauthorized overseas charges on domestic credit cards has been traced to fraudulent ChatGPT Pro subscriptions purchased with leaked card data rather than phishing. Industry figures show that of 1,368 ChatGPT Pro payments processed in one market during June, totaling around 400 million won, some 858 transactions worth roughly 250 million won were flagged as suspected fraud. The case exposed how many overseas merchants still authorize payments using only a card number, expiry date and security code, without secondary verification. The payment processor and OpenAI have since moved to issue refunds and are testing identity-authentication measures to close the gap, a reminder of persistent weaknesses in cross-border digital payments.

In the technology sector, Intel has partnered with Greenstone Bioscience to accelerate AI-driven drug discovery, combining a large human induced pluripotent stem-cell biobank with Intel's edge AI and high-performance computing infrastructure. The collaboration aims to speed identification of next-generation drug candidates and lower failure rates in early-stage research. For Intel, the tie-up advances its pivot from a chip-centric manufacturer toward an AI platform company, with healthcare and biotech earmarked as core growth pillars. The deal mirrors a broader rush among large technology players to merge medical data with artificial intelligence, a trend that is steadily reshaping competitive dynamics across the global pharmaceutical industry.

Taken together, these developments underscore a market bracing for tighter financial conditions even as capital floods into artificial intelligence. With a hawkish Fed, quarter-end rebalancing that strategists estimate could trigger up to $165 billion in equity sales, and intensifying AML scrutiny of digital assets, risk appetite remains fragile. COINOTAG's aggregate data reflects the caution: our Fear & Greed Index sits at 23, deep in Extreme Fear, while Bitcoin dominance has climbed to 70.1% and total crypto market capitalization stands near $1.83 trillion. With Bitcoin holding close to $64,000 and altcoins under pressure, the path back toward a new all-time high hinges on whether Thursday's inflation data softens the rate outlook.