“That delay—which the agency would assuredly try to parlay into another, then another, until it is too late—would be devastating for Kalshi, which has staked its future on this litigation and these markets,” the company told the U.S. District Court for the District of Columbia. Source
If granted, the stay would mean Kalshi wouldn’t be allowed to list its election markets until late September at the earliest. The company, which settles trades in U.S. dollars, has been locked out of this year’s election betting boom, dominated by crypto-based rival Polymarket, which is barred from serving U.S. residents under its own settlement with the CFTC. Source
I want to focus on this part, as it raises some interesting regulatory questions. Trump, of course, has spent the past few months campaigning to crypto voters, making promises about installing industry-friendly regulators and making the U.S. the “crypto capital of the planet” in various public remarks. Source
“For the reasons stated in the Court’s forthcoming memorandum opinion, the Court GRANTS Plaintiff’s motion for summary judgment … and DENIES Defendant’s cross motion for summary judgment,” Cobb wrote. “Defendant’s September 22, 2023 order prohibiting Plaintiff from listing its congressional control contracts for trading is hereby VACATED.” Source
DeFi, in its current form, has proven that an on-chain financial system can be created that provides all the core primitives that an open, globally accessible, and robust financial system would require: payments, swaps, lending, derivatives, insurance, and much more. Source
An inside look at the big and small projects being developed at the mtnDAO hacker house in Salt Lake City. Source
Ethereum Foundation's Main Wallet Down to About $650M, Top Official Says Source
So, to be clear, MyPeach.AI’s customers are getting adult content. And some of them may be using a credit card to pay for it. If they do, behind the scenes, what’s really happening is they’re purchasing a stablecoin and sending it to MyPeach.AI – all because payment processors charge through the nose for adult entertainment. Source
“While we continue to see risks for Coinbase, we think the improving environment, P&L profile, gradual but ongoing diversification, clear industry leadership in the US, and recent share performance point to a more balanced risk/reward, and we move to Equal Weight,” the analyst wrote. Source
While the industry’s combined effort has tried to walk a tightrope between the two major political parties, Ripple’s giving has leaned into the Republican side in one key situation: trying to defeat crypto critic Sen. Elizabeth Warren (D-Mass.) Garlinghouse, the company’s CEO, has also personally given $50,000 to a super-PAC aimed at building a Republican majority in the Senate, according to disclosures to the Federal Elections Commission. So his political sympathies may be at odds with the letter Larsen signed, which favors a Democratic administration under Harris. Source