Category: ICO

Polymarket Reportedly Seeks $50M in Funding, Mulls Token as Election Bets Surge

The startup’s runaway success this year has been a sore point for Kalshi, a regulated, dollar-denominated prediction market that’s been fighting a protracted court battle with its supervisor, the U.S. Commodity Futures Trading Commission, so it can list contracts on which party will control each house of Congress. The agency has been considering a proposed rule that would ban election event contracts at all the exchanges on its watch, which would push regulation of such activity to the states. Source

Mango Markets Mulls CFTC Settlement Over Crypto Trading Violations

The crypto derivatives trading hub faces CFTC charges for allegedly failing to register as a commodities exchange, for illegally offering services to U.S. customers and failing to check its customers’ identities, according to statements in its Discord server and a proposal on its governance page. The DEX allows users to trade perpetual futures contracts. Source

Crypto Needs a Purple Mindset

Politicians as different as Senate Majority Leader Chuck Schumer and former President Trump have come around to this view in recent years. After initially spurning the industry, Trump gave a pro-crypto keynote speech at this summer’s Bitcoin Conference in Nashville. In his remarks, Trump likened Bitcoin to “the steel industry of a hundred years ago” and said that “If crypto is going to define the future, I want it to be mined, minted, and made in the USA.” Last week, he even bought a burger with crypto at Pubkey, a…

FTX’s Downfall Couldn’t Have Happened Without SBF’s Fraud – Or Prager Metis’ Audit Failure

Auditing standards require at a minimum that auditors understand the entity and its environment, that it has the competency and independence to perform the audit, and that it can’t effectively staff the audit, among other things. These standards apply whether the audit client is a first-time client, a small local thrift shop, or a multibillion-dollar cryptocurrency exchange with a related party trading firm. Prager Metis, which is based in New York, rushed into the latter space with abandon. The firm was the first to announce a metaverse headquarters in Decentraland.…

Bitcoin Price (BTC) Could Gain on Looser Financial Conditions

A noteworthy analysis on the relationship between the NFCI and bitcoin was recently shared by Fejau, host of the Forward Guidance Podcast. In an X thread, Fejau pointed out the negative correlation between the NFCI and bitcoin, arguing that looser financial conditions often act as a tailwind for risky assets. According to Fejau, when financial conditions loosen, easing increases, leading to a risk-on environment where speculative assets, including bitcoin, tend to rally. Source

Digital Assets Banking Group Sygnum Subsidiary Registers as a Crypto Asset Service Provider in Liechtenstein

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BTC, ETH Rise in Muted Trading to Start the Week

Major cryptocurrencies made cautious gains to start the week, with BTC around 1.3% higher over 24 hours at just under $63,500. Ether outperformed bitcoin, rising 2.7% to $2,650, while the broader digital asset market is up just under 1.1%, as measured by the CoinDesk 20 Index. Data from CoinGlass shows that in the last 12 hours, slightly more short positions than longs have been liquidated, with $64.23 million in short positions and $54.42 million in longs being liquidated. Trading is likely light in the aftermath of last week’s 50 basis-point…