Prediction market Kalshi has sued regulators in the US state of Iowa, claiming it did so as there was a risk of an impending enforcement action over its sports event contracts. Kalshi sued Iowa Attorney General Brenna Bird, along with the Iowa Racing and Gaming Commission and its board, in an Iowa federal court on…
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Stablecoin yield providers will inject more capital into the US banking system, argues White House Council of Advisors for Digital Assets executive director Patrick Witt, amid debate over whether stablecoin yields will draw deposits away. “Foreigners exchange local currency for stablecoins from a US-based issuer,” Witt said in an X post on Wednesday, adding that…
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Ghana’s securities regulator has given the nod to 11 crypto trading platforms to participate in its new regulatory sandbox program, its first major step in support of crypto after passing a law to provide the local market with regulatory clarity in December. Ghana’s Securities and Exchange Commission said on Tuesday that the 11 crypto platforms…
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Key takeaways: Professional traders remain cautious, pricing low odds for a Bitcoin breakout to $78,000 despite recent ETF inflows. US and Israel-Iran war and soft US labor data offset momentum in Bitcoin ETFs. Bitcoin options: 17% chance of breaking $78,000 Bitcoin (BTC) reclaimed the $70,000 mark again on Wednesday. However, repeated failed attempts to break…
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Travis Hill, chair of the US Federal Deposit Insurance Corporation (FDIC), confirmed that, in his opinion, a law passed in July would not give the agency the authority to guarantee stablecoin deposits. In remarks prepared for the American Bankers Association (ABA) Washington Summit on Wednesday, Hill said that under rules for the stablecoin payments bill,…
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The next big breakout for Bitcoin (BTC) may hinge on changes unfolding across Binance’s exchange flows and derivatives activity. Onchain data from the largest cryptocurrency exchange currently show a cooling of whale deposits, rising BTC withdrawals, and growing futures dominance, which may influence the next direction for Bitcoin’s price. Bitcoin whale activity cools after February…
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Bitcoin (BTC) failed to break the $72,000 resistance on Tuesday, as onchain data suggested that BTC was entering the most “challenging” phase of the cycle. Key takeaways: Bitcoin price stays range-bound following another rejection at $72,000. Rising supply in loss suggests the most “psychologically challenging” phase of the bear market is here. Bitcoin must break…
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Michael Saylor’s Strategy (MSTR) may reach the 1 million Bitcoin (BTC) milestone faster than expected, potentially overtaking BlackRock in total holdings. Key takeaways: STRC share sales have generated cash to acquire over 3,500 BTC so far this week. Strategy’s implied buying power could rise to roughly 5,700 BTC per day at Tuesday’s record pace. Strategy’s…
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Bitcoin (BTC) broke back above $70,000 around Wednesday’s Wall Street open as US inflation data soothed anxious markets. Key points: Bitcoin bounces around a narrow range as US inflation data offers a modest tailwind. Oil prices stay lower as an emergency release of 400 million barrels is confirmed. BTC price expectations focus on future liquidations…
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US Democratic Party Senator Adam Schiff introduced legislation Tuesday that would explicitly bar federally regulated prediction-market platforms from listing contracts tied to war, terrorism, assassination and individual deaths. The bill, called the DEATH BETS Act, would amend the Commodity Exchange Act to make those contracts prohibited for entities overseen by the US Commodity Futures Trading…
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