CRYPTO
Gen Z ‘nihilism’ is fueling a $100 trillion crypto derivatives boom in response to a broken system
A significant increase in housing costs makes home ownership unattainable for many Gen Z individuals, leading to financial nihilism, said CoinFund’s David Pakman. What to know: The surge in speculation driving prediction markets and leveraged bets on various sectors isn’t reckless, it’s rational, according to CoinFund managing partner David Pakman. […]
Bitcoin mining difficulty drops by most since 2021 as miners capitulate
Miners are facing significant challenges, with bitcoin revenue per petahash falling by half from a peak of $70 to $35. What to know: Bitcoin’s mining difficulty dropped by around 11%, its largest decline since China’s 2021 crackdown on the industry, after a sharp decline in hashrate triggered by plunging prices […]
Polymarket sues Massachusetts, claims states can’t regulate prediction markets
Polymarket is challenging Massachusetts in federal court, arguing that states lack the authority to regulate CFTC-approved prediction markets. Polymarket filed a federal lawsuit against the state of Massachusetts, arguing that Congress granted the Commodity Futures Trading Commission (CFTC) exclusive authority over event contracts, preventing states from independently shutting down federally […]
BlackRock Says 1% Crypto Allocation in Asia Could Drive $2 Trillion in Inflows
An executive from BlackRock said that a small shift in Asian portfolio allocations toward crypto could generate enormous inflows for the digital asset market. BlackRock executive Nicholas Peach said that even a small shift in Asian portfolio allocations toward crypto could generate enormous inflows for the digital asset market. Speaking […]
Concerns over Strategy selling bitcoin are ‘unfounded,’ Michael Saylor says
Strategy Executive Chairman Michael Saylor affirmed the firm’s commitment to a long-term bitcoin strategy following major fourth quarter losses and a continued plunge in prices early this year. What to know: Concerns that Strategy (MSTR) will be forced to sell bitcoin amid falling prices are “an unfounded concern,” chairman Michael […]
Fugitive foreigner sentenced in the U.S. to 20 years for $73 million crypto scam
A U.S. judge sentenced Daren Li to 20 years for a $73 million crypto fraud. The scam used Cambodia-based compounds to target victims via social media and dating apps. What to know: A federal judge in California sentenced in absentia a dual national of China and St. Kitts and Nevis […]
Sam Bankman-Fried files for new trial over FTX fraud charges
The incarcerated former leader of the failed crypto exchange wants a new chance to defend against fraud charges. What to know: Sam Bankman-Fried, the former CEO of collapsed crypto exchange FTX, is seeking a new trial, according to a request filed in a New York federal court by his mother. […]
Crypto’s eligibility for 401k retirement funds is under fire after brutal market rout wipes out $2 trillion
“401ks exist to help people save for a secure retirement, not gamble on speculative assets,” said an industry observer. What to know: Bitcoin’s 50% plunge from its October peak has done more than just erase $2 trillion in market value — it has reignited a fierce debate over the fiduciary […]
Crypto-focused Erebor wins first new US bank charter of Trump’s second term: WSJ
Erebor doubled its valuation to $4 billion after a $350 million Lux Capital-led funding round late last year. The United States has approved a newly created national bank for the first time during President Donald Trump’s second term, granting a charter to crypto-friendly startup Erebor Bank. The Office of the […]
Bitcoin-Backed Bonds Facing Stress Test After Bitcoin Selloff, S&P Says
Wall Street’s first public bitcoin-backed bond, issued by Ledn and rated by S&P, is facing stress after a 27% bitcoin drop forced liquidations. Wall Street’s first attempt at a public bond sale backed by bitcoin loans has hit some turbulence after bitcoin’s sharp decline triggered forced liquidations. Bankers at Jefferies […]
