Council Speaker Julie Menin sent letters to four companies offering prediction market services to New Yorkers as part of an investigation into their marketing practices. The New York City Council launched an investigation into companies offering prediction market services, aiming to examine whether they used “false and deceptive marketing” through influencers to target young adults....Continue Reading

The deal would add NEOS’ $30 billion ETF business, including Bitcoin- and Ether-linked income funds, to Goldman Sachs Asset Management. Goldman Sachs has agreed to acquire exchange-traded fund manager NEOS Investments for up to $2.25 billion, a deal that would add the firm’s Bitcoin- and Ether-linked funds to its growing ETF business. NEOS manages $30...Continue Reading

Kraken’s funded trading program adds round-the-clock exposure to the US equity benchmark as it builds out its multi-asset offering. US-based crypto exchange Kraken has added an S&P 500 perpetual product to its proprietary trading program, giving funded traders round-the-clock exposure to the US equity benchmark. According to a company blog post on Wednesday, the product...Continue Reading

Crypto companies from including Coinbase, BitGo, Robinhood, Polygon and Pump.fun have announced workforce reductions this year, citing a variety of reasons, including shifting to AI and market forces. Digital asset manager Bitwise has cut 14% of its staff in a move that reduced workers at the San Francisco-headquartered company from about 180 to 155 people....Continue Reading

HashKey has become an authorized distributor for Anchorpoint’s HKDAP, expanding institutional access as Hong Kong’s regulated stablecoin market takes shape. Anchorpoint Financial, a Hong Kong-licensed stablecoin issuer, has added HashKey Exchange as an authorized distributor for its Hong Kong dollar stablecoin, HKDAP, potentially expanding access to the fiat-backed asset as Hong Kong’s regulated stablecoin market...Continue Reading

The Digital Pound Lab is testing a cross-border trade finance flow combining stablecoin payments with simulated digital pound settlement. The Bank of England’s Digital Pound Lab is testing whether stablecoins and a potential digital British pound can operate within the same cross-border payment flow as part of an experiment focused on trade finance. The experiment...Continue Reading

Following the initial lawsuit, at least one of Kalshi’s event contracts was changed to list “Primary Source Agency” as the entity behind verifying flight cancellation data. Just a day after real-time flight tracking website FlightAware filed a lawsuit against prediction markets platform Kalshi over use of its name and data, the flight data company gave...Continue Reading

Bitcoin price action did not reflect relief in US CPI inflation numbers matching expectations amid a warning over $63,000 failing as support. Bitcoin (BTC) saw weakness around Wednesday’s Wall Street open as markets reacted to key US inflation data. Key points: Data from TradingView showed BTC/USD dropping below $63,500, erasing the day’s gains. Read moreContinue Reading

Wintermute will reportedly invest $1 billion in AI infrastructure and high-frequency trading as part of its expansion into traditional finance. Crypto market maker Wintermute reportedly plans to invest up to $1 billion in artificial intelligence (AI) data center infrastructure and high-frequency trading over the next five years. The plans include scaling up Wintermute’s non-crypto market...Continue Reading

Five years after El Salvador made Bitcoin legal tender, the experiment has fallen short of its original promises for locals, but it’s been great for Bitcoin’s global profile. It’s been five years since El Salvador became the first country to adopt Bitcoin as legal tender. President Nayib Bukele announced the plan at the Bitcoin conference...Continue Reading