[Rob Witoff: Coinbase's Code Writing Highly Dependent on AI, AMLA Warns of MiCA Compliance Pressure] According to Cointelegraph, Coinbase executive Rob Witoff stated that currently 95% to 100% of the code is written or assisted by large language models, up from 40% in February this year. In May, Coinbase laid off 700 employees, and CEO Brian Armstrong noted that AI has changed the pace of work. Bruna Szego, Chair of the EU Anti-Money Laundering Authority (AMLA), warned that after the MiCA transition period ends on July 1, the concentrated migration of users will exacerbate compliance pressure on virtual asset service providers, and licensed institutions will face challenges in onboarding new users.

[Durbin Criticizes Todd Blanche for Disbanding Crypto Enforcement Unit, Questions Zhao Changpeng's Fund Flows] According to Cointelegraph, U.S. Senator Durbin criticized Todd Blanche, the Attorney General nominee appointed by former President Trump, for disbanding the Department of Justice's cryptocurrency enforcement unit. He also accused Blanche of enabling Trump to profit $1.4 billion through World Liberty Financial. Durbin alleged that Zhao Changpeng facilitated $2 billion in transfers to World Liberty in exchange for a presidential pardon. Republican Senator Tillis expressed concerns about the pardon, while Todd Blanche responded that, if confirmed, he would review the pardon process and reiterated that the Department of Justice would not pursue blockchain developers uninvolved in illegal activities.

[Stanford University and Singapore Management University Research: Polymarket Bitcoin Prediction Market Susceptible to Manipulation] According to a Cointelegraph report, research by Stanford University and Singapore Management University found that Polymarket's 5-minute Bitcoin prediction market, due to using Chainlink price feeds for settlement, incentivizes traders to manipulate spot prices before settlement, resulting in approximately $1.28 million being transferred from retail traders to manipulators.

[Jesse Pollak Steps Down from Base App Leadership, Jordan Fish Takes Over] According to CoinDesk, Coinbase executive Jesse Pollak has stepped down from the leadership role of the Base app due to the on-chain social strategy failing to drive crypto adoption. Jordan Fish will take over the position. The Base app will shift its focus to trading, payments, and AI agents, positioning itself as a global financial blockchain. Last year, Coinbase acquired the Echo platform founded by Jordan Fish for $375 million.

[Kalshi Claims CFTC and Michigan Directive Put It in a Difficult Position] According to Cointelegraph, prediction market platform Kalshi stated that conflicting directives from the U.S. Commodity Futures Trading Commission (CFTC) and a Michigan court have placed it in an impossible situation. On June 29, the Michigan court ordered Kalshi to cease offering sports betting contracts to users in the state, but on Tuesday, the CFTC ordered Kalshi not to comply with the state directive and to continue operations. Kalshi's legal head, Robert DeNault, said the company has canceled the relevant trades as required by the state court, but there is a conflict between federal regulatory obligations and the state court's order. CFTC Chairman Michael Selig stated that canceling already executed trades would undermine market certainty, and the commission would not allow state-level agencies to force registered entities to violate the Commodity Exchange Act.