Business – Page 263

Prediction markets still expect big MSTR buys, even as Saylor prepares for a weak market

Good morning, Asia. Here’s what’s making news in the markets: Welcome to the Asia Morning Briefing, a daily overview of top stories in US hours and an overview of market movements and analysis. For a detailed overview of US markets, see CoinDesk’s Crypto Diary Americas. A new CryptoQuant report suggests that the Strategy is quietly […]

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High level of backwards hints at the bottom

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Year-to-date CME bitcoin is down -2.35%, its deepest retreat since the extreme swings of the FTX collapse in November 2022, when the base briefly approached -50%, according to Velo data. Backwardation describes a futures curve where contracts that expire earlier trade at a higher price than contracts that expire later. In other words, the market

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Polymarket launches app with CFTC Green Light in US Return

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Polymarket has launched a mobile app in the US that offers users a new way to bet on sporting events using real money under federal oversight, the company announced on X Wednesday. The app, currently available for iOS, opens access to users on a rolling basis through a waiting list system. Android support is expected

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Solana Mobile will launch the SKR token early next year

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Solana Mobile on Wednesday released new details about SKR, the upcoming native token for its Seeker smartphone ecosystem. The company said SKR will launch in January 2026, forming the financial and governance backbone of its decentralized mobile platform. According to a post on X by Solana Mobile, SKR will have a fixed total supply of

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Fair value is close to $92.3K

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Bitcoin BTC$93,449.12 closely follows the difficulty model according to checkonchain. This model estimates the total production costs of the network. The model treats mining problems as the distilled measure of mining price because it incorporates all major operational variables into a single figure. This provides an industry-wide estimate of the average cost to produce a

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Up 7% as Grayscale ETF (GLNK) Sees $37M first day inflow

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Chainlink’s native token LINK rose 7% over the past 24 hours on Wednesday, outperforming the broader crypto market as traders reacted to the debut of the first US-listed spot Chainlink ETF. The Grayscale Chainlink Trust ETF ( GLNK ), converted from a closed-end fund and traded on the NYSE Arca, brought in $37 million in

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Connecticut orders Kalshi, Robinhood, Crypto.com to cease sports betting

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The state of Connecticut fired a legal salvo against sports event contracting with a trio of cease-and-desist orders sent Wednesday to major predictive market operations — Robinhood, Kalshi and Crypto.com. The state Department of Consumer Protection accused the companies of “conducting unlicensed online gambling, more specifically sports betting.” Each of the companies is “hereby ordered

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Polymarket and Kalshi get a new competitor in fanatics

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Fanatics is expanding beyond jerseys and collectibles into the world of real money prediction markets. The sports retailer said Tuesday it will launch its new platform, Fanatics Markets, across 24 US states in phases over the coming days. The app, now live in 10 states and coming soon to major markets like California, Texas, Florida

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Coinbase’s (COIN) Brian Armstrong Urges Wall Street Not To Be ‘Left Behind’

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Coinbase ( COIN ) is partnering with some of the largest banks in the United States on pilot programs involving stablecoins, crypto-escrow and trading, CEO Brian Armstrong said Wednesday at the New York Times DealBook Summit. “The best banks are leaning into this as an opportunity,” Armstrong said during a discussion with BlackRock CEO Larry

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Trump’s CFTC, FDIC vote closer to taking over agencies as they advance in Senate

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Two key positions in US crypto watchdog are moving forward this week in the Senate as the chamber draws up a slate of dozens of nominees it will consider for confirmation at once, including Mike Selig to chair the Commodity Futures Trading Commission and Travis Hill to chair the Federal Deposit Insurance Corp. Senate Majority

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