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Fintech Rain Raises $58 Million to Fuel Stablecoin Push on Visa Network

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In brief

  • Stablecoin fintech Rain has raised $58 million.
  • The Visa-backed company, which issues cards, has raised a total of $88.5 million from big backers like Sapphire Ventures, Dragonfly, Galaxy Ventures, and Samsung Next.
  • Stablecoins are a hot topic since President Donald Trump signed the GENIUS Act.

Stablecoin-backed card company Rain, which partnered with Visa this year, has raised $58 million as part of a series B funding round, the company said in an announcement Thursday. 

The raise brings the company’s total funding to $88.5 million. Rain, which closed its A round five months ago, said the money would be used to grow the firm’s platform and “give global institutions the most flexible, modular, and compliant stablecoin infrastructure available.”

Venture capital firm Sapphire Ventures led the funding round, with Dragonfly, Galaxy Ventures, Endeavor Catalyst, Samsung Next, Lightspeed, and Norwest also contributing. 



“Stablecoins are shifting to the backbone of global commerce,” Rain CEO and co-founder Farooq Malik said. “In its earliest form, money moved instantly. We’ve spent centuries slowing it down.”

Rain this year partnered with Visa to push ahead with its stablecoin-linked cards. 

In the release, Rain said that is intent on making stablecoins “instantly usable anywhere Visa is accepted through its physical and virtual card programs, processing millions of transactions across 150+ countries.”

The company said that it had grown transaction volume by tenfold this year with such portfolio partners as Nuvei, Avalanche, Dakota, and Nomad using Rain infrastructure for merchant payouts, everyday consumer purchases, B2B spend, and cross-border payroll.

Visa has been making major inroads into the crypto space, particularly with stablecoins. In April, it partnered with Bridge, a unit of payment services provider Stripe, to offer stablecoin-linked debit cards in Latin American countries. In 2021, it announced that it supported USDC on Ethereum.

Stablecoins are digital tokens running on blockchains that are pegged to non-volatile assets, usually dollars. With a stable value, such cryptocurrencies were previously used by traders to enter and exit digital asset trades without the need for banks.

But now, banks, major companies, including Meta and Amazon, and even U.S. states are all interested in issuing the tokens, which are supposed to accelerate payments leveraging blockchain technology. 

U.S. President Donald Trump in July signed the GENIUS Act into law, establishing a framework for issuing and trading stablecoins in the U.S.

“Stablecoins have scaled to hundreds of billions in circulation, but until now, they couldn’t be easily spent,” said Sapphire Ventures President Jai Das, who will join Rain’s board. “Rain is working to fix that by connecting stablecoins to Visa’s global network, turning them into money you can actually use for everyday commerce.”

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NFT Gaming

Tron Cuts Network Fees By 60% To Strengthen Position In Stablecoin Market

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Tron (TRX) network has made headlines by approving a significant reduction in transaction fees, cutting them by up to 60% following a majority vote within the community, as rising fees have been seen as a barrier to user participation and ecosystem development.

Fee Adjustments On Tron

The proposal to lower fees was driven by rising transaction costs that have accompanied an increase in TRX’s value, the network’s native token, which has doubled since 2024. 

The proposal alleged that while higher fees are essential for the Tron network’s overall security and stability, they have also eroded Tron’s competitive edge, making it imperative to adjust them. 

The increase in TRX prices has led to a corresponding rise in fees for transactions, particularly affecting Tether’s USDT stablecoin and other contracts on the platform. 

As a result, the earlier 50% reduction in energy unit prices, established by a previous proposal, has been negated, prompting this latest response from the Tron Super Representative community.

The 1-D chart shows TRX’s price trending upwards despite the overall market correction. Source: TRXUSDT on TradingView.com

As of this writing, TRX trades at $0.33, up by 107% year-to-date, being in the top performers in the cryptocurrency market during the same period, outpacing tokens like Bitcoin (BTC), Ethereum (ETH) and other altcoins such as Solana (SOL) and Cardano (ADA). 

Short-Term Profit Impact Expected

Justin Sun, the founder of Tron and a prominent figure in the crypto space, announced this decision on social media platform X (formerly Twitter). He highlighted that the upcoming fee reduction will be the largest fee cut since the network’s inception back in 2017 along with the TRON Foundation. 

Sun alleged that in the short term, this reduction is expected to impact the networ’s profitability, given that the network relies on transaction fees as a primary revenue source. 

However, Sun expressed confidence that the long-term benefits would outweigh these initial drawbacks. By encouraging increased user engagement and higher transaction volumes, Tron aims to foster a more vibrant ecosystem that ultimately enhances profitability.

To ensure that the fee structure remains competitive and sustainable, the network’s Super Representative community plans to conduct quarterly reviews of network fees. 

These assessments will take into account various factors, including fluctuations in TRX prices, levels of network activity, and overall growth rates. In his social media post, Sun further stated: 

On August 26, 2025, the Tron Super Representative community proposed to reduce Tron network fees by 60%. This is the largest fee reduction since the founding of the Tron network. The proposal has already passed and will take effect at 20:00 (GMT+8) this Friday

Featured image from DALL-E, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Pyth Network (PYTH) price targets $0.30 after 100% rally as whales step in
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Pyth Network (PYTH) price targets $0.30 after 100% rally as whales step in

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PYTH  price rallied over 100% after disclosing a significant partnership with the U.S. government. Simultaneously, whales have started accumulating the token. Will this rally continue, or has it lost steam?

Summary

  • PYTH price shot up over 100% as the U.S. government selected it as an oracle partner to verify GDP data.
  • The token’s price has broken above a descending trendline it had been trading under since February.

According to data from crypto.news, Pyth Network (PYTH) soared 118% to an intraday high of $0.243 on Friday morning, Asian time, before settling at $0.227 as of press time. At this price, it stands 167% higher than its year-to-date low.

The surge occurred in a high-volume trading environment. Trading volume for PYTH token was up nearly 8,600% over the past 24 hours, which indicates strong demand from traders helped fuel its rally today.

The token also attracted strong demand from derivatives traders. Notably, open interest surged to an all-time high of $188.34 million, significantly higher than the approximately $40 million recorded the previous day. This, combined with a long/short ratio above 1, indicates that a majority of traders are positioning for further upside, reinforcing the bullish sentiment behind the rally.

As such, the market cap of Pyth Network has ballooned to over $1.3 billion, entering the top 100 crypto assets by market cap as per CoinGecko.

PYTH’s price surged after the project’s team announced that the U.S. Department of Commerce had chosen the network as one of the oracle partners to help validate and publish economic data directly on the blockchain.

Notably, this also drove renewed interest from whale investors. According to data from Nansen, the balance of PYTH tokens held by whale wallets rose 14.5% over the past 7 days, increasing from 42.97 million to 49.21 million today.

Another factor that supported the token’s gains today is the drop in balances held on exchanges. According to Nansen data, the combined balances across all exchanges currently stand at 908.75 million, down 8% compared to seven days ago.

Such a drop in exchange balances suggests that investors may be moving tokens off exchanges, reducing immediate selling pressure. With fewer tokens available for trading, this is often seen as a bullish signal, indicating growing holder confidence and a potential for continued upward price movement.

The confluence of these bullish factors could continue to improve investor sentiment, potentially leading to further price appreciation in the short term.

On the daily chart, PYTH has decisively broken out above a descending trendline that had been in place since early February, characterized by a series of lower highs and lower lows. This breakout marks a shift in market structure and suggests a potential trend reversal.

PYTH price has broken above a multi-month descending trendline on the daily chart — Aug. 29 | Source: crypto.news

Following the breakout, the price has moved above the 23.6% Fibonacci retracement level at $0.192, reinforcing the bullish outlook.

The token is now trading above all major simple moving averages, including the 50-day and 200-day SMAs, which is typically interpreted as a strong bullish signal. This alignment suggests that short- and long-term momentum are now favoring the bulls.

Additionally, the Supertrend indicator has turned green and shifted below the price level, providing further confirmation of a buy signal.

PYTH Supertrend chart — Aug. 29 | Source: crypto.news

Based on this setup, the next immediate upside target lies at $0.26. A decisive break above this level could open the door for a move toward $0.31, which aligns with the 50% Fibonacci retracement level and may serve as the next key resistance zone.

On the contrary, if the token fails to maintain support above $0.19, it could retreat toward $0.10, a level that previously acted as strong support.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.



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Product Reviews

Network Solutions review | TechRadar

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We spend hours testing every product or service we review, so you can be sure you’re buying the best. Find out more about how we test.

Network Solutions was launched in 1979 as one of the first companies to provide DNS (domain name system) technology. Since then, it has developed to provide many more services, all related to web hosting. Today they provide “all you need, in one place”, that is: domain names and various hosting options with a whole variety of features and accessible applications including a page builder. The company is headquartered in the US, with its main office located in Herndon and its data center situated somewhere in North America.

In 2011, Network Solutions was acquired by Web.com Group, one of the leading web technology companies that provided services to millions of customers all over the world. Then, in 2021 web.com merged with EIG to become Newfold Digital. Later, in 2025 Newfold Digital consolidated brands and absorbed web.com into Network Solutions.

So, it’s fair to say Network Solutions has had a long and varied life changing hands and merging more than most hosts. Is this Network Solution’s final form? Who knows but one thing is certain. It’s not staying power.

You’ll have to opt for the Premium plan in order to get an SSL Certificate (Image credit: Future)

Is Network Solutions good value for money?

Network Solutions’ Starter Plan is perfect for businesses just getting started. This plan costs only $2.99 per month for the first year and includes 10 GB of disk space, 1 website, and five email boxes. You also get 25 FTP accounts, a drag and drop page builder, and unlimited bandwidth.

For $4.99 per month, the Essential Plan gives you even more features than the Starter Plan. It includes 20 GB of disk space, 3 websites, 1,000 email boxes, and a domain name included in your package (for one year). If your business needs more than the Essential Plan provides, consider Network Solutions Premium Plan. This plan covers all of the features of the Essential plan plus 40 GB disk space and supports 10 websites for $6.99 for the first year.

Is Network Solutions easy to use?

Because Network Solutions doesn’t exactly have a myriad of hosting options, picking out a preferred plan shouldn’t be a time-consuming decision. The first thing you’ll need to know is if you want a simpler cloud-based solution or a WordPress-optimized one. For the most part, together with these hosting packages, you’ll be getting email services as well. If not (and you want them), digging a bit more around the website will take you to a few email hosting solutions as well.

Network Solutions is a decent choice for anyone looking for an easy-to-use web hosting service with sufficient features. Not only does it offer a good range of benefits such as domain registration, design tools, email hosting, marketing tools, and more but its user interface is also incredibly intuitive and simple to navigate whether you’re a novice or an experienced user. 

Network Solutions offers a drag-and-drop website builder in addition to its web hosting plans (Image credit: Network Solutions)

All plans come with a proprietary control panel, which isn’t as user friendly as some industry-standard alternatives, but we managed to find our way around. From there, most of the famous apps can be yours after a click or two (WordPress, Joomla, Durpal and so on) and all developers out there will be glad to hear that a whole variety of website development features are supported as well (PHP5, Python, Ruby on Rails, Java Servlets, Zend Libraries and much more). A number of e-commerce features (and all-inclusive ecommerce solution) are available for purchase, as well as a competent drag-and-drop website builder.

We used GTmetrix to measure the uptime and response time of our Network Solutions site (Image credit: GTmetrix)

Speed and experience

When trying to convince us of the superiority of their services, Network Solutions brings up their “reliable” uptime with the guarantee of 99.9%, live tech support and flexible hosting plans, without any promises regarding the speed. Not knowing what to expect, we tested the speed performance of Network Solutions’ main website using GTmetrix as a tool. It placed the website’s speed performance above the average with the conclusive result of B (85%), which is quite good.

We decided to test the uptime of Network Solutions’ main website by using UptimeRobot and see if we’re going to take advantage of the guarantees they provided us with. After a month of constant monitoring, UptimeRobot reported a few occasions of downtime, with the longest one lasting for 19 minutes straight. However, the total of downtime was around 42 minutes. This means the total recorded uptime was 99.917% and that Network Solutions managed to deliver on their promises by a whisker.

While this isn’t a true reflection of the speeds you can expect from your site on shared hosting, it is a good indicator of how reliable and powerful Network Solutions’ infrastructure is.

Network Solutions has a searchable Help Center (Image credit: Network Solutions)

Help and support

The first help options you’ll probably notice with Network Solutions are their telephone number (which is advised to be used for urgent matters only) and “Contact us” button that will present you with a few ways to help yourself. Their knowledgebase (titled as “Help Center”) can be browsed with the help of a search box or you can pick out some of the preselected categories. There seems to be a decent number of articles which are mostly written in an easy-to-follow way (often with pictures) and rated by users with a five-star rating system. 

If you would rather rely on support agents from Network Solutions’ technical team, you can get in touch with them via support ticket, live chat and telephone, all of which ought to be available around-the-clock.

Network Solutions features a community forum, where its registered users (we assume, since trying to proceed without registration made us hit the dead end) can seek answers to their questions, answer questions from other users or leave feedback for others to see. However, when we tried to register, not a single one from dozens of display names (and some were quite original) was deemed acceptable (the only explanation we got was “Name you entered is already in use”, which doesn’t seem to be the case), so we can’t report anything more than this.

The competition

Bluehost is also one of those hosts that will provide their users with everything need but also have servers in Europe and Asia. Even so, Bluehost provides a great value for money and offers (unlike Network Solutions) VPS hosting, managed WordPress and dedicated server in addition to basics, so it is better suited for more ambitious users.

HostGator can provide you with everything Network Solutions can and go beyond that, and we are not thinking about hosting types only. The entry-level (adorably named “Hatchling”) plan with HostGator includes a domain name, website transfer, unmetered bandwidth and SSL certificate, all cost-free. In comparison, Network Solutions’ elementary plan has less bonus features to attract new users with.

Both of those brands are also owned by Newfold Digital. If you wanted to look outside of that group you could also consider Hostinger.

Is Network Solutions right for you? 

Since it was founded at the end of the disco era, Network Solutions certainly knows how to get groovy with its hosting packages, offering a great deal of helpful tools to get your website down with a boogie in no time. 

When deciding on a web hosting service, there are many factors to consider such as price point, customer service availability, and uptime guarantee. Network Solutions offers all these features in one package, making them a great option for anyone who wants reliable web hosting without breaking the bank. 

Network Solutions FAQs

Does Network Solutions support WordPress?

The short answer is yes. Network Solutions supports WordPress, which means you can create a fully functioning website with ease. The service includes auto-installers so that you don’t have to worry about installing WordPress manually or dealing with complex server configurations. You also get access to hundreds of themes so you can customize your site with ease, as well as numerous plugins that further extend the functionality of your online presence.

What is Network Solutions used for?

Network Solutions can be used for much more than just hosting websites and registering domains. The service also offers support for email services, online stores, SSL certificates, marketing, and SEO tools.



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Crypto Price Today (August 28) Market Hits $3.91T As Pyth Network Stands Out
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Market Hits $3.91T as Pyth Network Stands Out

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The crypto market surged on August 28, reclaiming momentum as global capitalization climbed to $3.91 trillion after a sharp 0.92% rise in just 24 hours. Trading activity also strengthened, with daily volumes hitting $174.11 billion, up 1.75%.

The top cryptocurrency by market capitalization Bitcoin traded at $112,818 as of writing with a trading volume of $63.68 billion, having a 1.31% increase. Meanwhile, Ethereum, the second-largest player in the market, hovered around $4,585.17 but experienced a slight dip of 0.22%, even with $40.51 billion in transactions flowing through.

Reasons Behind the Market Uptick

Some of the key drivers of the market were the U.S. Strategic Bitcoin Reserve initiative which gained momentum as Trump-era policies accelerated adoption. At the same time, El Salvador’s President Nayib Bukele hinted at raising national holdings to $1 billion, further energizing Bitcoin bulls.

Besides, altcoins experienced an uptick thanks to some new capital coming in. The Altcoin Season Index shot up by 11.11%, reaching 55.6, largely fueled by Ethereum ETF inflows totaling $30.99 billion in assets under management, according to CoinRank. 

Additionally, Cronos (CRO) skyrocketed by 45% following the news about a potential Trump Media ETF inclusion, which added to more optimism in the market.

Gainers and Losers Define Momentum

Strong performers included Pyth Network (PYTH), which soared 48% to $0.1699 on $167 million volume. Cronos (CRO) followed with a 38% gain, touching $0.3426 on an eye-catching $2.54 billion turnover. Conflux, Ethena, and Raydium also posted steady rallies.

However, not all assets shared in the rise. OKB (OKB) plunged 6.33% to $163.78, while Aerodrome Finance (AERO) fell 4.42% to $1.26. Hyperliquid (HYPE), Sky (SKY), and Aave (AAVE) also faced declines, showing traders’ quick rotations.

According to the latest data from CoinMarketCap, investor sentiment was neutral today, with the Fear and Greed Index sitting at 45. 

Bitcoin is still dominating with a dominance of 57.4%, and Ethereum gas fees are staying low, which means there’s less congestion and transactions are cheaper.

Although institutional actions and altcoin spikes have kept the market moving in a bullish direction, volatility is a cause for concern.

Also Read: Crypto Trader Boosts MEXC Bounty to $2.5M Over KYC Demand



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Crypto Trends

Here’s What to Expect From Bitcoin in September as Network Activity Slows

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In brief

  • On-chain data shows a 13% drop in adjusted transfer volume, signaling weaker demand.
  • Spot Bitcoin ETFs saw continued outflows, adding to macro-driven selling pressure.
  • September has averaged negative returns for Bitcoin, compounding cautious sentiment.

Bitcoin’s bounce on Tuesday may offer a brief respite for investors, but experts are warning that a deeper “cooling-off phase” could be in play.

A combination of declining on-chain activity and sustained institutional outflows suggests that the market may be entering a more cautious period after a powerful run to record highs.

On-chain data reveals a significant slowdown in network activity, which aligns with Bitcoin’s recent price pullback, Glassnode cautioned in an official Telegram channel on Tuesday.



The monthly average of change-adjusted transfer volume has declined 13% from $26.7 billion to $23.2 billion. 

If this trend continues, and the metric breaks below its yearly average of $21.6 billion, it would “confirm weakening speculative activity and signal a broader contraction in demand,” Glassnode wrote.

Bitcoin is currently trading at $111,300, up 2.52% from Monday’s low of $108,550, according to CoinGecko. It’s still down more than 10% from its August 14 high of $124,128.

Bitcoin’s slowdown coincides with a period of elevated sell-side pressure from long-term holders. 

The realized profit from these investors is the second most significant compared to prior cycles, which is a “strong signal that the market is in a late-stage phase,” Glassnode wrote in a separate post on X. 

“It looks like we’re entering a cooling-off phase that could last through September,” Georgii Verbitskii, a derivatives trader and founder of DeFi platform TYMIO, told Decrypt.

Spot exchange-traded fund outflows for Bitcoin, along with heightened macroeconomic risk, are exacerbating bullish sentiment, Ecoinometrics, a crypto macro research newsletter, wrote on Tuesday.

“As of Friday, our flows-to-price model put the expected price at $107,000, with a risk of falling below the psychological $100,000 level if outflows persist.” 

TYMIO’s Verbitskii shares a similar view that a $100,000 target is “on the table,” despite his long-term bullish outlook.

Combined with Bitcoin’s declining fundamentals, the macroeconomic uncertainty and rate cut expectations have market analysts exercising caution.

September, in particular, has returned an average of -3.77% in the past 12 years, while the third quarter has historically yielded negative returns, CoinGlass data shows.

With potential for further downside, Verbitskii cautioned against opening new long positions at current levels and suggested adopting a “wait and see” approach.

“Long positions only make sense if we reclaim and hold above $118,000.”

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Ethereum gaming network XAI sues Elon Musk's AI company
Crypto Trends

Ethereum gaming network XAI sues Elon Musk’s AI company

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Ethereum gaming firm Ex Populus is taking legal action against Elon Musk’s artificial intelligence company, xAI. The name similarity has allegedly caused widespread market confusion.

Summary

  • Ex Populus sues Elon Musk’s AI company over trademark infringement.
  • The similarity in name and sector has allegedly caused widespread confusion amongst traders, with many believing the firm’s network to be part of Musk’s AI gaming firm.

The Ethereum (ETH)-based gaming network has filed a lawsuit against Elon Musk’s artificial intelligence company xAI, accusing it of trademark infringement. The Ether gaming firm behind the network, Ex Populus, announced the lawsuit via its X platform and on its community forum.

“With increased confusion around Elon Musk’s AI company, it’s a big responsibility to safeguard the brand that the community trusts,” said the official account.

Launched in 2021, Ex Populus is a game production and publishing company that focuses on blockchain-based gaming, specifically in the Ethereum ecosystem.

In 2023, the company developed a platform called Xai that enables video game developers to make use of AI-driven gaming solutions and autonomous software systems across multiple platforms. As of late, this platform has been mistaken for Elon Musk’s own artificial intelligence company, which he dubbed xAI.

XAI’s claim over Elon Musk’s trademark infringement

According to the document, Ex Populus filed the lawsuit on the grounds of trademark infringement, unfair competition and false designation of origin as well as unfair business practices. It claims to have registered the trademark since June 2023, which protects it under common law rights.

Despite the trademark, Elon Musk has continued to publicly use the name to refer to his artificial intelligence company linked to the X social media platform. On July 2023, Elon Musk announced he would create a new artificial intelligence and technology company that he named “xAI.”

As a result, many traders began mistaking Ex Populus’ network for Musk’s AI gaming venture. As the post had already reached more than 36 million viewers, it amplified consumer confusion between the two brands. Not to mention, X’s own AI assistant Grok mistakenly told users that the social media account for the Ex Populus network was linked to Musk’s AI company.

“Consumers familiar with Plaintiff’s XAI brand and its established reputation in the video gaming industry instantly began inaccurately conflating Plaintiff with Musk’s/Defendants’ “xAI” company,” wrote the company in the lawsuit filing.

XAI price analysis

After news of the lawsuit against Musk went viral, the native token experienced a drop in value. On August 25, the token dropped 5.16% from its previous daily peak. It is currently trading at $0.0499.

The sharp rejection and highlighted drop zone indicate that bears remain in control for the short term. If this level fails to hold, the next significant support could be around the $0.047–$0.048 range as it continues to dive even lower.

The Relative Strength Index currently sits at 36.89, which is close to the oversold zone. This indicates that bearish momentum is strong but could be nearing exhaustion. The RSI has been trending below its moving average, reflecting sustained weakness. However, with RSI nearing oversold territory, a short-term relief bounce is possible if buyers step in.

Price chart for XAI in the past few days, August 25, 2025 | Source: TradingView



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GameFi Guides

The Creators of an Ethereum Gaming Network Just Sued Elon Musk’s xAI

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In brief

  • Ex Populus, creator of the Xai gaming blockchain, is suing Elon Musk’s xAI for trademark infringement, and asking a court to block its use of the “xAI” name in gaming and blockchain.
  • The company says Musk’s expansion of xAI into gaming caused confusion with media, users, and even X’s own AI chatbot Grok, which mistakenly linked the two ventures.
  • Ex Populus argues Musk’s controversies, including Grok’s past offensive remarks, have severely damaged its brand.

The creators of Xai, a layer-3 gaming blockchain built on Ethereum, have sued Elon Musk’s xAI for trademark infringement—and are asking a federal court to force the billionaire’s artificial intelligence company to change its name and branding in contexts related to video games and blockchain. 

In November, Musk announced plans to start an AI video game studio within xAI, to “make games great again.” Ex Populus, the company behind gaming blockchain Xai, now claims that Musk’s announcement immediately created “substantial actual confusion” online between their established video game brand, Xai, and Musk’s xAI gaming venture. 

Numerous news aggregators and commentators used the blockchain’s logo in announcements about Musk’s venture, the company’s attorneys claim, and many more internet users mistook the separate ventures to be related. What’s more, Grok—Musk’s AI chatbot—also confused the two separate entities, and told X users they were both controlled by Musk’s companies, the attorneys said.



In a complaint filed Thursday, Ex Populus asked a federal court in northern California to order Musk’s AI company to cease using any words or symbols likely to cause confusion with Xai’s registered trademark, in the contexts of video gaming and blockchain.

It also requested punitive damages and all profits reaped by Musk’s companies for the alleged infringement. 

Ex Populus’ attorneys repeatedly argued in their complaint that Musk’s company has not only consistently infringed on their copyright since last year—but, further, that the particular notoriety and controversy associated with the world’s richest man have made the alleged infringement particularly damaging to their brand.

Ex Populus took legal action today to protect the Xai brand. With increased confusion around Elon Musk’s AI company (@xai), it’s a big responsibility to safeguard the brand that the community trusts. You can read more details at https://t.co/ce8Aw9hNCZ

— XAI 🎮⛓️ (@XAI_GAMES) August 22, 2025

“Musk and defendants’ xAI company routinely receive substantive negative media attention that is now being attributed to plaintiff’s XAI trademark,” the attorneys wrote. 

The lawyers made particular note of a controversy that erupted last month when Musk’s AI bot, Grok, referred to itself as “MechaHitler” for a brief period and made antisemitic, racist, and sexually violent comments across the X platform.

“Plaintiff losing control over its goodwill is irreparable harm sufficient to support an injunction to cease defendants’ use of the infringing xAI marks,” Ex Populus’ attorneys said, “but to be associated with Nazism, hate speech, and violence exacerbates the harm exponentially.”

Ex Populus said in a statement that Musk’s attorneys reached out to them recently about trademark issues, and that, now, the company feels it has no option but to fight back “or risk losing [the trademark] altogether.” 

“This case isn’t just about Ex Populus or Xai,” the company said. “It speaks to something bigger: the right of smaller innovators to build without having their identity swallowed by tech giants.”

Musk’s xAI did not immediately respond to Decrypt’s request for comment on this story.

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UK Cracks Down: $9.3B Ruble-Backed Crypto Network Linked to Russia Sanctioned
NFT Gaming

$9.3B Ruble-Backed Crypto Network Linked to Russia Sanctioned

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The United Kingdom has introduced new sanctions targeting Kyrgyzstan’s financial sector and cryptocurrency operations allegedly tied to Russia’s efforts to bypass Western restrictions.

The measures include actions against banks, exchanges, and individuals accused of facilitating a ruble-backed stablecoin network that processed billions of dollars in transactions.

According to a statement from the UK government, the blacklisted entities are linked to a $9.3 billion stablecoin known as A7A5, which was designed to replicate the ruble on blockchain platforms.

Officials claim the network was a direct attempt to mitigate the impact of sanctions imposed on Moscow following its invasion of Ukraine. The new measures build upon more than 2,700 existing UK sanctions on Russia and mirror steps taken by the United States earlier this month.

Crypto Exchanges and Stablecoin Network Under Scrutiny

Among those sanctioned was the Capital Bank of Central Asia and its director, Kantemir Chalbayev, who the UK says played a role in financing goods for Russia’s military.

Two Kyrgyz-based crypto exchanges, Grinex and Meer, were also placed on the sanctions list. Authorities allege these platforms were central to transactions involving the A7A5 stablecoin, which moved $9.3 billion worth of value within four months.

In addition, several entities and individuals tied to the network’s infrastructure were named, including Luxembourg-based Altair Holding, CJSC Tengricoin, Old Vector, and A7A5 director Leonid Shumakov.

UK Sanctions Minister Stephen Doughty emphasized that the measures were aimed at stopping Moscow from turning to alternative financial systems: “If the Kremlin thinks they can hide their attempts to soften the blow of our sanctions by laundering transactions through crypto networks, they are mistaken.”

Grinex, one of the sanctioned exchanges, has been widely described as a successor to Garantex, a Russian-linked exchange previously targeted by regulators. Earlier this year, Tether froze $27 million in USDT linked to Garantex after US authorities accused the platform of facilitating illicit transactions.

Kyrgyzstan’s Response and Broader Implications

The announcement drew an immediate response from Kyrgyz President Sadyr Japarov, who criticized the UK’s decision and warned against politicizing the country’s banking sector. Japarov stated that none of Kyrgyzstan’s 21 banks were engaged in helping Russia evade sanctions.

To limit exposure, he explained that only the state-owned Keremet Bank is authorized to process transactions involving the Russian ruble. Keremet, however, was sanctioned by the US earlier this year for its role in handling Russian trade payments.

Japarov also stressed Kyrgyzstan’s commitment to honoring international agreements, stating: “I will not allow the interests of our citizens and the trade and economic development of the country to be reduced to nothing.”

The latest sanctions highlight the growing focus on crypto-financial networks as tools used to bypass restrictions. Western governments have increasingly scrutinized stablecoins and exchanges operating outside traditional banking channels, with both the US and UK arguing that such platforms could weaken the effectiveness of global sanctions regimes.

The global digital currency market cap valuation. | Source: TradingView.com

Featured image created with DALL-E, Chart from TradingView

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Sonic Racing: CrossWorlds Open Network Test to begin on 29th August
Game Updates

Sonic Racing: CrossWorlds Open Network Test to begin on 29th August

by admin


A Sonic Racing: CrossWorlds Open Network Test has been announced for PS5, Xbox Series Consoles, PC, and Nintendo Switch. The multiplayer test will begin on 29th August and run over that weekend until 1st September.

Sega has noted that the Network Test won’t be available for PS4 and Xbox One users.

Variety of Game Modes

Grand Prix

  • Compete solo or with friends in local split screen co-op for first place in one of 7 cups (comprised of 4 races each). Racers are awarded points based on their placements at the end of races, and the racer with the most points at the end wins!

World Match

  • Test your skills and compete online against 11 other players. Earn Rank Points, increase your World Rank, and aim for the top!

Friend Match

  • Play with up to 11 other players online in custom lobbies where you can control all aspects of a race such as Speed, Team Size, Course/CrossWorlds, AI Difficulty, Frenzy Gates, Items, and Rule Sets.

Race Park

  • Change up the rules and teams online and offline in this party mode that features six unique race formats.

Time Trial

  • Compete for the best time on individual courses and aim for the top of the Leaderboard Rankings.

Custom Match

  • Play with up to 4 players offline split-screen where you can control all aspects of a race such as Speed, Team Size, Courses/CrossWorlds, AI Difficulty, Frenzy Gates, Items, and Rule Sets.

Rival System

  • With the new Rival System, players are randomly assigned to a rival racer for the duration of the four Grand Prix races. The rival will playfully taunt the main racer with unique dialogue interactions, allowing for fun competition within the main races.

Four Player Local Co-Op

  • Compete against friends for first place with local co-op! Hop on the same device and see who has what it takes with up to four players and split screen capabilities.

Cross-Platform Matchmaking

  • Players can also look forward to racing online with up to 11 other friends! With cross-platform matchmaking, everyone can hop into the race no matter what console they own.

Sonic and Pac-Man are also getting a crossover, with the pair hopping into each other’s new games. You can check out the crossover in the trailer below:

Watch on YouTube

Sonic Racing: CrossWorlds will release digitally and physically on 25th September for PS5, PS4, Xbox Series X|S, Xbox One, Switch, and PC. A Switch 2 edition will release later this year digitally and on physical in 2026.

This is a news-in-brief story. This is part of our vision to bring you all the big news as part of a daily live report.



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