Prediction-market platforms Polymarket and Kalshi are accelerating their push into web3 and international markets as interest in event-based trading continues to rise. The expansion plans were discussed at a private dinner in New York attended by senior financial figures, including Intercontinental Exchange CEO Jeffrey Sprecher, according to Bloomberg. Both companies are pursuing new revenue streams while seeking additional regulatory approvals. They are also exploring partnerships with sports organizations and international venues as part of their broader growth strategies. Polymarket, which is preparing to relaunch in the United States, and Kalshi, which recently formed a partnership with Coinbase, are increasing their…
Author: Sazid Kabir
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More than half of young wealthy U.S. investors are moving money away from financial advisors who do not offer cryptocurrency access, according to new research by Zerohash. The survey of 500 investors aged 18 to 40, with incomes between $100,000 and over $1 million, found that 61% already hold cryptocurrency. However, 76% buy and manage it on their own instead of through an advisor. Another 64% said they would stay longer with their advisor or invest more if crypto options were available. The trend is pushing investment platforms to expand crypto services. Last week, Public acquired Alto’s CryptoIRA business for…
A new analysis warns that stablecoins may struggle to maintain their one-to-one value with the U.S. dollar because they lack direct access to the Federal Reserve and depend heavily on the quality of their reserves. The report is part of a wider series examining myths about stablecoins. It focuses on the “singleness of money,” the idea that all forms of U.S. dollars should exchange at equal value. In the traditional banking system, deposits can be turned into physical cash at par because banks connect directly to the Federal Reserve. Stablecoins do not have this connection. Issuers cannot hold a Federal…
Ethereum, the world’s second-largest cryptocurrency, fell to its lowest level in more than four months on Wednesday as analysts warned that fear and worsening market sentiment are driving sustained losses across the digital asset sector. The price of ether dropped below $2,870 on November 19, according to Coinbase data, marking its weakest level since mid-July. The cryptocurrency has now fallen nearly 40% since early October, alongside broad declines across the crypto market. Analyst Tim Enneking, managing partner at Psalion, said the market has struggled to stabilise since reaching all-time highs in early October. He described the current trend as a…
Ethereum cofounder Vitalik Buterin has warned that the cryptography protecting bitcoin, ethereum, and other digital assets could fail within the next few years, as concerns about quantum computing grow during a period of sharp market losses. Bitcoin has fallen below $100,000, extending a month-long decline that has also pulled down ethereum and many other cryptocurrencies. Analysts warn that a $1 trillion market downturn is possible if the sell-off continues. Speaking at the Devconnect conference in Buenos Aires, Buterin said that elliptic curve cryptography—the encryption method used to secure most blockchains—may be broken by quantum computers before the 2028 U.S. presidential…
The U.S. Senate Banking Committee is set to vote in December 2025 on a bill that would regulate the cryptocurrency market, according to committee Chair Tim Scott. The legislation would designate Bitcoin and Ether as commodities under the Commodity Futures Trading Commission (CFTC). The bill aims to resolve the oversight conflict between the Securities and Exchange Commission (SEC) and the CFTC. It also introduces rules for cryptocurrency exchanges, including segregating customer funds, implementing conflict-of-interest controls, and providing enhanced disclosures. These measures respond to vulnerabilities exposed during the collapse of platforms such as FTX. If the committee approves the bill, Scott…
United States authorities have indicted Chicago-based crypto ATM operator Virtual Assets LLC and its founder, Firas Isa, on money laundering charges. Prosecutors say the scheme involved $10 million in proceeds from fraud and narcotics. Isa and his company operated Crypto Dispensers, which offered cash-to-cryptocurrency conversion services across the U.S. While running a crypto ATM business is legal, prosecutors claim Isa knowingly converted illicit funds into cryptocurrency to hide their origin. “After the proceeds were sent, Isa converted the cryptocurrency and transferred it to virtual wallets to disguise the true source and ownership,” the U.S. Department of Justice said. Isa and…
Solana’s price has been in a downtrend since mid-September, as network activity continues to slow. The cryptocurrency is down more than 50% from its September high of $252.78 and 52.4% from its all-time peak. At press time, Solana trades around $139.75, with a market cap of $77.4 billion and a 24-hour trading volume of $6.85 billion, down 20% over the past day. The altcoin’s decline followed a broader market sell-off in September, sometimes called “Red September,” which affected many cryptocurrencies. Investor concerns over inflation, changing interest rate expectations, and global economic uncertainty—including potential tariffs proposed by U.S. President Donald Trump—have…
Coinbase is developing a prediction markets platform using Kalshi’s regulated infrastructure, according to leaked screenshots shared by tech researcher Jane Manchun Wong. The images show a dedicated website with branded market pages, an FAQ section, and onboarding guides. The platform will be offered through Coinbase Financial Markets, the exchange’s derivatives arm, in partnership with Kalshi. Users will be able to trade using USDC or U.S. dollars. Categories shown include economics, sports, science, politics, and technology. Prediction markets have grown rapidly in 2024 and 2025. Platforms such as Kalshi and Polymarket reported record trading volumes as users placed bets on political,…
Malaysia’s national utility, Tenaga Nasional Bhd (TNB), has lost more than $1.1 billion to illegal electricity use by cryptocurrency miners between 2020 and August 2024, the energy ministry reported. Authorities seized mining equipment at 13,827 premises during this period. While cryptocurrency mining is legal in Malaysia, tampering with electricity meters or bypassing power connections is illegal under the Electricity Supply Act. TNB has worked with the Energy Commission, police, anti-corruption authorities, and local councils to identify and shut down these operations. The raids uncovered mining setups in rented shops, warehouses, and residential homes. Many were equipped with ventilation, air conditioning,…