Prediction markets Polymarket and Kalshi now place Kevin Hassett, US President Donald Trump’s National Economic Council director, as the favorite to replace Jerome Powell as the next Federal Reserve chair. The odds of Hassett filling the seat have now spiked to 66% on Polymarket and 74% on Kalshi at the time of writing. Hassett is…
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Cryptocurrency investment products snapped a four-week losing streak, drawing about $1 billion in fresh money after four consecutive weeks of losses totaling $5.5 billion. Crypto exchange-traded products (ETPs) recorded $1.07 billion of inflows last week, their first week of gains since late October, according to the European crypto asset manager CoinShares. James Butterfill, CoinShares’ head…
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HashKey Holdings, the parent company of one of Hong Kong’s biggest licensed crypto exchanges, moved a step closer to a public listing, according to new filings from the Hong Kong Stock Exchange (HKEX). On Monday, the HKEX published a 633-page post-hearing information pack for HashKey Holdings. The document was published at the request of The…
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Bitcoin (BTC) threatens a fresh crash as December begins with a snap 5% BTC price drawdown. Bitcoin price volatility hits around the November monthly close, with BTC/USD returning to near $85,000. Analysis blames a lack of market liquidity for the move, while history warns that bearishness should continue in December. Key US inflation data is…
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Sony Bank, the online lending subsidiary of Sony Financial Group, is reportedly preparing to launch a stablecoin that will enable payments across the Sony ecosystem in the US. Sony is planning to issue a US dollar-pegged stablecoin in 2026 and expects it to be used for purchases of PlayStation games, subscriptions and anime content, Nikkei…
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Bitcoin (BTC) experienced a sharp pullback in early Asian trading on Monday, dropping to $85,500 amid increasing expectations of a December rate hike by the Bank of Japan (BOJ). Key takeaways: Bitcoin dropped 5% to almost $85,000 in a marketwide correction, liquidating $656 million in longs. Mounting expectations for a BOJ rate hike at its…
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Japanese government bond yields have jumped to their highest level in decades, prompting some analysts to speculate that it could be behind the recent crypto market sell-off on Sunday. Japan’s 10-year government bond yield hit 1.86% on Monday, its highest level since April 2008, according to MarketWatch. Yields in the 10-year bonds have almost doubled…
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Ripple Labs has received approval from Singapore’s central bank to expand its payment activities in the region, amid a broader push to grow its business and institutional-focused offerings through acquisitions. Ripple’s Singapore subsidiary, Ripple Markets APAC, has been approved by the Monetary Authority of Singapore (MAS) to expand the scope of its regulated payment activities…
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China’s central bank has flagged stablecoins as a risk and has promised to refresh its crackdown on crypto trading, which it has banned since 2021. The People’s Bank of China said on Saturday, after a meeting with 12 other agencies, that “virtual currency speculation has resurfaced” due to various factors, posing new challenges for risk…
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White House AI and crypto czar David Sacks has fired back at The New York Times over a report detailing how his government advisory role could benefit his investments and his close associates. Sacks said in a post to X that despite having “debunked in detail” the Times’ reporting over the past five months, the…
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