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Crypto

Russia crypto bill sets investment caps and cross-border transaction rules

Russia\'s State Duma plans to take up a bill regulating the cryptocurrency market for second and third readings on July 22. If passed, the bill would establish a legal framework for crypto activity, including investor rules and standards for cross-border transactions. It sets annual purchase and overseas transfer limits by investor type, and would create legal conditions for Russian companies to use crypto in foreign trade. Key provisions are expected to take effect on Sept. 1.

Crypto

Wall Street called for $300, but why SpaceX shares fell below IPO price

SpaceX shares closed at $148 on July 8, a second straight day below their $150 first-trade price, despite inclusion in the Nasdaq 100. The stock surged about 50% in its first three sessions after listing, then gave back most gains. The company raised $85.7 billion including a greenshoe after pricing 555.6 million shares at $135. Analysts cite valuation, limited float and pre-positioning ahead of index inclusion as key factors.

Finance

Banks rush to cut AI token costs amid bill shock

Banks are moving to curb surging token costs as they expand the use of artificial intelligence, after AI pricing models shifted from subscriptions to token-based billing. Executives at several banks have publicly flagged the growing burden. Banks are reassessing which models to apply to which tasks, opting for older or smaller models where possible. They are also considering open-source options, reusing stored answers and expanding in-house computing infrastructure. Some tasks may remain cheaper to handle with people.