Leading decentralized exchange Hyperliquid’s push into prediction markets is about who captures the upside, not just cheaper trading, according to Arthur Hayes, co-founder of BitMEX exchange and CIO of Maelstrom fund. CoinDesk reported earlier that Hyperliquid is preparing a zero-fee-to-open model for event trading under HIP-4. The Hyperliquid Improvement Proposal (HIP)-4 is a proposal that […]
The U.S. Commodity Futures Trading Commission sued New York on Friday in its latest action to shield what the agency has argued is its unassailable nationwide regulatory authority over prediction market firms. Earlier this week, New York sued Coinbase and Gemini, arguing that their prediction market contracts violated state gambling laws. And last year, the […]
Prediction markets have a consistent line: their products are financial instruments, not bets. Wisconsin isn’t buying it, and in a new complaint targeting Kalshi, Coinbase, Polymarket, Robinhood and Crypto.com, the state is citing the companies’ own marketing to call them unlicensed gambling venues. “Thinly disguising unlawful conduct doesn’t make it lawful,” Attorney General Josh Kaul […]
Until last Friday, April 17, lending stablecoins into Aave, widely considered the gold standard of DeFi, paid 2.32% APY. The Federal Reserve’s overnight rate was 3.64%. Taken at face value, the market was pricing an unregulated, open-source smart contract as a lower credit risk than the United States Treasury. In 48 hours, that ended. The […]
High Roller Technologies Inc. (ROLR) stock more than doubled after the online casino operator said it planned to introduce an event-based prediction market in the U.S. in conjunction with Crypto.com. The Las Vegas-based company said Tuesday it will initially offer its customers Crypto.com Derivatives North America (CDNA) event contracts in the U.S. across finance, sports […]
The New Hampshire Business Finance Authority is set to issue what appears to be the first rated bitcoin-backed bond of its kind, marking a step toward integrating crypto into traditional public finance. The bonds received a provisional Ba2 rating from Moody’s Ratings, two notches below investment grade. They will be issued through the Business Finance […]
Coinbase is walking a tightrope in the negotiation over the Clarity Act, telling the staffs of U.S. senators that the company is not happy with where the lawmakers landed in their latest compromise, according to people familiar with the situation, but it hasn’t openly declared its opposition. The proposed agreement was shown to stakeholders in […]
As platforms such as Polymarket gain mainstream visibility during U.S. election cycles and major geopolitical events, their prices are increasingly cited as real-time signals of truth. The pitch is seductive: let people put money behind beliefs, and the market will converge on reality faster than polls or pundits. But that promise collapses when a contract […]
WASHINGTON, D.C. — The Senate’s stalled crypto market structure bill is making progress behind-the-scenes, the chairman of the body’s Banking Committee said Tuesday. Senator Tim Scott, who heads the banking panel overseeing the market structure bill, said at the Digital Chamber’s DC Blockchain Summit that lawmakers may see a new draft of at least stablecoin […]
Kalshi, one of the leading prediction market firms, said it caught and penalized two users for insider-trading activity on its platform, including an editor for the popular social-media star MrBeast. The company said it has more than a dozen active insider-trading cases among 200 it’s investigated. On Wednesday, Kalshi disclosed the details of two that […]
Tether USDT$1.0002, the world’s largest stablecoin by market value, continues to shrink and looks set for a second straight monthly contraction, signaling challenging conditions for a sustainable broader market recovery. Tether’s market capitalization has dropped by 0.8% to $183.61 billion this month, extending January’s 1% slide from a record $186.84 billion, according to data source […]
Ledn, a crypto lending company, has completed the first asset-backed securities (ABS) deal backed by bitcoin collateral, raising $188 million for crypto credit markets. Asset-backed securities are bonds backed by pools of underlying loans, with investors receiving payments from the cash flows generated by those loans. Bloomberg reported that the bonds are secured by a […]