US senators urge CFTC probe Polymarket over ‘deceptive marketing’
A bipartisan pair of US senators has called on the Commodity Futures Trading Commission to investigate prediction market platform Polymarket after reports that it paid social media influencers to create videos showing fake bets. Republican Senator John Curtis and Democratic Senator Adam Schiff sent a letter to CFTC Chair Mike Selig on Thursday, saying they
Trump’s World Liberty under fire for ‘absurd’ token unlock plan
The Trump family’s crypto platform, World Liberty Financial, is facing backlash over a new proposal to lock up tokens purchased by early investors for up to four years, or in some cases, indefinitely. World Liberty posted the proposal to its governance forum on Wednesday, which outlined that early investors would have their World Liberty Financial
Kalshi raises $1B at $11B valuation after best volume month
Prediction market Kalshi has closed a $1 billion funding round at a valuation of $11 billion, after seeing its best-ever monthly volume in November. Confirming an earlier report by TechCrunch, Kalshi said on Tuesday that its latest Series E round was led by the crypto-focused venture firm Paradigm, with participation from other crypto-engaged VCs Sequoia
CZ’s YZi Labs moves to take over board of flatlining BNB treasury
Binance founder Changpeng Zhao’s YZi Labs has launched a bid to stack the board of a BNB buying company it helped to bankroll with its own nominees, citing “destruction” of stockholder value. In a regulatory filing on Monday, YZi Labs said it wants to cancel all of the company’s bylaw changes since July, expand the
David Sacks calls NYT report on conflicts of interest a ‘nothing burger’
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 those of his close associates. Sacks said in a post to X that despite having “debunked in detail” the Times’ reporting over the past five
South Korea’s Upbit parent plans US IPO after Naver merger: Report
US investors could soon get exposure to South Korea’s active crypto market, as crypto exchange Upbit’s parent company, Dunamu, reportedly eyes a Nasdaq listing. Dunamu, the parent company of South Korean crypto exchange Upbit, is reportedly looking to debut in the US after it finalizes its merger with local tech giant Naver. Dunamu wants to
Canary Capital files for MOG ETF, boosting the little-known memecoin
Canary Capital has filed to launch an exchange-traded fund (ETF) tracking the price of a memecoin called Mog Coin, briefly lifting the price of the little-known token. In a regulatory filing to the US Securities and Exchange Commission on Wednesday, Canary said its ETF would hold Mog Coin (MOG), which it described as a memecoin
Senate committee unveils crypto market structure bill draft
The US Senate Agriculture Committee has released its long-awaited discussion draft of crypto market structure laws, bringing Congress closer to passing legislation outlining how the crypto sector will be regulated. Republican Agriculture Chair John Boozman and Democrat Senator Cory Booker released the draft on Monday, which includes brackets around sections of the bill that lawmakers
Robinhood isn’t rushing into crypto treasuries, exec says
Robinhood executive Shiv Verma says buying crypto could align it with the community more, but questions if it’s “the right thing for shareholders.” Trading platform Robinhood Markets is still undecided about whether to buy and hold crypto, even though doing so could make it more aligned with the crypto community, according to an executive. ”We
Robinhood’s Q3 crypto revenue surges 300% as earnings beat forecasts
Robinhood Markets’ crypto revenue jumped over 300% in Q3, helping to double its revenue from last year to surpass analyst expectations. Trading platform Robinhood Markets saw its third-quarter crypto revenue surge 300% from a year ago, helping to boost its quarterly earnings above Wall Street expectations. Robinhood announced on Wednesday that its Q3 transaction-based revenues