📡 Tapbit Radar: DriveWealth Taps Ripple for ethereum:0x8292bb45bf1ee4d140127049757c2e0ff06317ed Settlement @DriveWealth has partnered with @Ripple to integrate ethereum:0x8292bb45bf1ee4d140127049757c2e0ff06317ed on the XRP Ledger for European settlement, with U.S. expansion planned. The partnership also covers cross-border payments and digital-asset custody. The integration could help institutional clients fund collateral accounts without waiting for cross-border bank wires, adding a new brokerage use case for Ripple’s infrastructure. Tapbit View: The partnership supports the adoption case for Ripple’s infrastructure, ethereum:0x8292bb45bf1ee4d140127049757c2e0ff06317ed and XRPL, but is not evidence of stronger ripple:native demand. With no go-live date, settlement volumes or participating clients disclosed, live European usage is the next key proof point. Disclaimer: This content is for informational purposes only and does not constitute financial, investment, or trading advice.

Congratulations to Jensen, @ClementDelangue, and the teams at @nvidia and @huggingface on a landmark deal. $12.9 billion for a company reportedly generating around $150 million in annual revenue makes clear that NVIDIA is paying for a strategic position in the AI stack, not near-term financial performance. NVIDIA already dominates AI compute, but some of its largest customers are building their own chips. Hugging Face brings NVIDIA closer to where millions of developers discover models, compare frameworks, and make deployment decisions. That gives NVIDIA a view into demand before it translates into compute spend. The challenge is keeping Hugging Face neutral. Developers use it because it works across models, clouds, and hardware, including NVIDIA's competitors. NVIDIA can bring more capital, infrastructure, and scale to the platform. The long-term value of the deal will depend on whether Hugging Face can grow under new ownership without losing the neutrality that earned developers' trust.

70% growth is the number everyone will quote. "Supply constrained" is the part I'd spend more time on. @nvidia earnings have become much more than a single-stock event. They're now a read on AI demand, hyperscaler spending, semiconductor capacity, and how much capital is still willing to move into infrastructure over the next few years. Very few assets sit at the intersection of that many important market questions. That's also close to how we define a quality asset at @Tapbitglobal. Not by whether it comes from crypto or TradFi, but by whether it has real price discovery, strong market attention and gives traders meaningful exposure to something they care about. NVDA fits that definition very well. And as traders move more freely between crypto and traditional markets, I think exchanges should be doing the same.

Security is not only about defending against the threats we understand today. It is also about ensuring that the systems users trust can evolve before tomorrow's risks become urgent. Quantum computing may remain a long-term challenge, but cryptographic migrations take years and require coordination across wallets, networks, institutions, and regulators. Controlled pilots like this give institutions time to understand what a safe migration would actually require.

At Tapbit, trust is reciprocal. Users trust us with their assets, and that creates a clear obligation when the fault is ours. Making it right is the first step. Learning from what happened and strengthening the platform is what follows.

Not every intervention is monetary easing. Treasury buybacks are designed to support liquidity in specific parts of the bond market. QE expands the central bank balance sheet to ease monetary conditions. They are different tools with different objectives. For risk assets, that distinction matters. Better market functioning can reduce stress, but a durable shift still requires broader financial conditions to ease.

Rankings change, but the principles behind our growth don't. At Tapbit, we remain focused on giving traders access to high-quality assets, a reliable trading experience, and a platform they can trust. Breaking into the top 10 on @coingecko is a meaningful milestone, and we will continue building with the same discipline that got us here.

The Fed held rates at 3.50–3.75%, as expected. But the headline wasn’t the interesting part. The 9–3 vote was. Three members wanted a 25 bps hike. That doesn’t automatically mean another hike is coming, but it does tell us where the risk has shifted: the Fed is still more concerned about inflation than supporting growth. So I’d call this a hawkish hold, not a pivot. For crypto, I’m watching real yields and the dollar from here. If both stay firm, especially with energy prices keeping inflation expectations elevated, liquidity-sensitive assets will struggle to hold a clean rally. If they begin to roll over, the unchanged policy rate becomes more supportive. My take: the Fed avoided adding more pressure today, but it didn’t remove the pressure either. I’d rather see how bonds and the dollar settle over the next few sessions before reading too much into the first market move.

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The bigger risk, in my view, is a hawkish hold. Rates stay unchanged, more officials push for a hike, and Warsh makes it clear that September is still very much in play. That could pressure risk assets without the Fed actually hiking tonight. I’m leaning toward a hold. Watching the vote split, Treasury yields and Warsh’s tone more than the headline itself. #FOMC

Earlier this month, AscendEX stopped operating. BitMEX and BitMart have since announced their own wind-downs. Three centralized exchanges have stopped operating or begun winding down in the same month. As someone who runs an exchange, it’s hard for me to read those headlines and just keep scrolling. These platforms have different histories, and the circumstances behind their decisions are probably different too. Trying to reduce all three to one simple explanation wouldn’t be accurate or particularly useful. But over the past few weeks, I’ve seen quite a few users on X talking about withdrawals sitting pending for long periods, balances being placed under review, or assets they haven’t been able to move yet. We may not know the full story behind every case. From a user’s perspective though, the questions are pretty simple: Can I close my positions? Can I withdraw my money? What’s the deadline? And if something goes wrong, will anyone respond? When people are waiting for access to their funds, they don’t really care about strategic reviews, market conditions or carefully worded corporate statements. They need clear information. They need someone to respond. More importantly, they need access to their assets. I’ve always believed that an exchange’s responsibility doesn’t end when it announces a shutdown. In many ways, that’s when the responsibility becomes most visible. Running an exchange isn’t only about launching products, adding markets and attracting volume. It’s a 24/7 operation involving security, risk management, treasury, compliance, market integrity and customer support. When everything is working properly, most of that work happens quietly in the background. But when one part goes wrong, users feel all of it at once. For platforms that are still building, this isn’t a moment to talk about who won or lost. It’s another reminder that the long-term value of an exchange ultimately comes down to how it operates every day. At Tapbit, we’ll continue treating asset security, system stability, risk management and clear user communication as basic operating requirements. Markets will change and competition will change, but our commitment to building the platform and serving users for the long term won’t. I respect the years of work that went into these platforms, and hope every affected user is able to close their positions and move their assets safely. The exchange industry is entering a more mature stage, and one that demands much stronger long-term operating discipline. What keeps an exchange going over the long term isn’t one strong month of volume or a period of market attention. It’s stable operations, the ability to manage risk, and whether the platform can step up immediately when users genuinely need help. These are things we’ve always focused on, and we’ll keep doing them well.

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BitMEX closing really does feel like the end of an era. If you were around during the early days of crypto derivatives, BitMEX was hard to ignore. It helped make the perpetual swap one of the defining products of this market, made it through more than a decade of very different cycles, and built a security record that deserves real respect. Seeing the news also made me think about how much the role of an exchange has changed over the years. In the early days, a lot of the challenge was simply giving people access — building a product that worked, offering markets they wanted to trade and keeping their funds safe. Those things still matter just as much today. They’re the basics you can never afford to get wrong. But the market is much bigger and noisier now. There are more assets, more narratives and more information competing for people’s attention every day. I think exchanges will increasingly need to help users make sense of what they’re trading, not just give them more things to trade. Not by making decisions for them, but by offering better context along the way. It’s something we’ve been thinking about at Tapbit as we keep building. BitMEX helped shape this industry, and that contribution doesn’t disappear when the exchange closes. The products, experience and people behind it will move on and show up in whatever comes next. Respect to everyone who helped build BitMEX, and wishing the team and its users all the best for the next chapter.

Alphabet and Tesla both reported strong revenue growth last night... and both sold off. Same market reaction, but two very different reports. Alphabet: Cloud revenue grew 82%. Search was still strong and Cloud margins improved a lot. So the AI demand is clearly there, and Google is already making real money from it. The concern is the cost. Capex doubled to almost $45B this quarter, free cash flow turned negative, and the full-year spending outlook moved above $200B. This isn’t a demand problem, It’s a question of whether the returns can keep up with the spending. Tesla: Deliveries were strong and revenue beat expectations, but the quality of that growth was weaker. Operating margin fell to 1.4%, capex reached $5.8B and free cash flow dropped to negative $1.1B. The car business is still doing the heavy lifting while Robotaxi, AI and Optimus consume more cash. Maybe those bets pay off over time, but this quarter didn’t give investors much proof yet. So, the market isn’t giving up on AI. It’s just moving on from who’s spending the most to who’s actually getting a return? Alphabet gave a much better answer to that question, and Tesla is still asking the market for patience.

Alphabet and Tesla report after the close today. Mostly watching Alphabet’s capex. We all know they’re spending big on AI... I just want to see if cloud and search are actually growing fast enough to justify it. Tesla’s a different one. Deliveries were solid, but margins and cash flow matter more to me here, and how much is the next stage of the robotaxi push going to cost? Wouldn’t be shocked if one or both beat and still trade lower tbh.📌

Argentina 2–1 England, i got this one right. Now I can’t wait for the final. 🇪🇸🇦🇷

🏴 England vs 🇦🇷 Argentina. England look fresher. Argentina look like a team that’s seen every version of this game before. I have a feeling it gets tense and messy. If it does, I trust Argentina a little more. Argentina for me. Maybe one Messi moment decides it😂. Who’ve you got? #Argentina

I had France, got it wrong, Spain 2–0 France.😅 I wasn’t looking in the wrong places: Rodri against France’s midfield, Yamal against Digne, and Mbappé in transition. I just expected those matchups to go France’s way. They didn’t. Yamal won the penalty, Spain controlled the midfield, and Mbappé never got the clean transition I expected. I’ve had this exact feeling trading crypto. You can be right about the quality of an asset and still get the trade wrong. Maybe you’re early. Maybe liquidity isn’t there yet. Maybe positioning is already crowded. Tchouaméni’s return was the catalyst I overrated. I thought it would shift the midfield battle but didn’t.

🇫🇷France vs 🇪🇸Spain — 3 Things I’m Watching Bastille Day. World Cup semifinal. Two of the best teams in this tournament. I’ve been looking forward to this one. Everyone’s looking at Mbappé vs Yamal. I think the game will be decided further back. Rodri vs France’s double pivot Tchouaméni is expected back after missing the last two games. If he starts alongside Rabiot, France will have a compact screen in front of the back four. If they can stop Rodri from playing forward, Spain may still have the ball—but not necessarily go anywhere with it. Yamal vs Digne, not Théo That’s a big change from Euro 2024. France won’t want Digne isolated against Yamal. Rabiot may have to help, but that could give Olmo more space inside. That trade-off is what I’ll be watching on France’s left. Spain’s defensive shape vs Mbappé in transition Spain have conceded only one goal all tournament. But they haven’t faced a transition threat quite like this. One turnover with the fullbacks high could leave Mbappé running at an exposed back line. He may only need that situation once. My MVP pick: Tchouaméni. This game could live on midfield recoveries and the first forward pass. After two games out, how sharp he looks is the question. I lean #France. They don’t need the ball to control the danger. But this is the hardest test either side has faced. How do you see this one playing out?

$SPCX finally under $140. Now the price is starting to make sense. Still want to see Q2 and how it trades through the first lockup. No rush.