Quick Summary: Polymarket is rolling out a new exchange system and its own collateral token to improve efficiency and align with US regulatory standards. Polymarket, the prediction market platform, is set to overhaul its exchange infrastructure in the coming weeks, introducing an upgraded trading system and a new collateral token. The announcement, made on Monday, outlines plans to deploy what the company calls version 2 exchange contracts, designed to simplify how orders are structured and matched. The changes are intended to make trading more efficient and to lower the barrier for developers building apps and trading bots that connect to…
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Quick Summary: Polymarket is rolling out its largest-ever technical overhaul, including a new trading engine and its own stablecoin to replace USDC.e as collateral. Polymarket, a prominent on-chain prediction market platform, is deploying what it describes as its biggest upgrade since launch. The overhaul includes a rebuilt trading engine, updated smart contracts, and a new platform-specific stablecoin. The changes are set to roll out over the coming weeks and represent a significant shift in the platform’s technical infrastructure.The new collateral token, called Polymarket USD, will replace USDC.e, a bridged version of Circle’s dollar-backed stablecoin that Polymarket has historically used on…
Quick Summary: A federal appeals court ruled 2-1 that federal commodity law preempts New Jersey’s attempt to regulate Kalshi’s sports event contracts. A federal appellate court has sided with prediction market platform Kalshi in a dispute with New Jersey gaming authorities over sports event contracts. The US Court of Appeals for the Third Circuit issued a 2-1 ruling on Monday, finding that Kalshi had a reasonable chance of success in arguing that the Commodity Exchange Act preempts state law. The decision affirms a lower court ruling and sets the stage for a potential clash over gaming regulation at the US…
Quick Summary: Bitfinex warns that Bitcoin’s stable trading range conceals rising downside risk, with derivatives traders paying premiums for protection against a sharper drop. Bitfinex has issued a warning that Bitcoin’s apparently stable trading range is concealing significant downside risk building within derivatives markets. According to the exchange’s report, traders are actively paying a premium to secure protection against further losses. This positioning suggests market participants are bracing for a more pronounced move to the downside rather than a continuation of the current equilibrium.A key concern highlighted in the report centers on what analysts describe as a negative gamma setup…
Quick Summary: Holders of tokenized Galaxy shares will be able to cast proxy votes in a May shareholder meeting through Broadridge’s Avalanche-powered governance platform. Tokenized equities are gaining new practical utility as Broadridge prepares to offer on-chain proxy voting to holders of tokenized shares in Galaxy (GLXY). The vote is scheduled for May and will be conducted through Broadridge’s tokenized governance platform, which runs on the company’s own Avalanche-powered layer-1 network. The development marks a concrete step toward integrating traditional shareholder rights into blockchain-based financial infrastructure.Galaxy CEO and founder Mike Novogratz described the initiative as a meaningful advance for tokenized…
Quick Summary: OpenAI calls on world leaders to reform tax, labor, and social policies now to prepare for a future shaped by advanced artificial intelligence. OpenAI has published a policy paper urging governments around the world to begin planning for an economy transformed by advanced artificial intelligence. The document, titled “Industrial Policy for the Intelligence Age: Ideas to Keep People First,” was released on Monday. In it, the company argues that rapid AI development could fundamentally reshape labor markets, wealth distribution, and economic growth. Officials, the paper contends, must act before those changes arrive rather than after.The paper warns that…
Quick Summary: JPMorgan CEO Jamie Dimon warns of rising blockchain-based competitors while the bank pushes its own Kinexys platform toward $10B in daily transactions. JPMorgan CEO Jamie Dimon has warned that new technologies are intensifying competition across the financial sector, with blockchain-based players joining traditional rivals in challenging established institutions. In his annual shareholder letter, Dimon identified artificial intelligence, data, and advanced technology as central to the future of financial services. The remarks signal a broader shift toward automated, data-driven operations within the industry.While blockchain and digital assets were not the primary focus of the letter, Dimon acknowledged that a…
Quick Summary: Grayscale’s head of research says altcoins are showing resilience amid macro headwinds, though he acknowledges markets may not have fully bottomed. Grayscale Head of Research Zach Pandl says the recent performance of leading altcoins may signal that the worst of the selling pressure is over, even as the broader crypto market remains well below its peak. In a blog post published Thursday, Pandl acknowledged that the firm cannot confirm crypto markets have bottomed. Speaking separately in an interview on Monday, however, he described the price action across altcoins as notably encouraging given the difficult macroeconomic backdrop.”Altcoins are trading…
Quick Summary: Chaos Labs is leaving Aave, citing fundamental misalignment on risk strategy, growing complexity from V4, and unsustainable economics despite a $5M budget. Chaos Labs has announced its departure from Aave, citing what it describes as a fundamental misalignment over risk strategy. The firm also pointed to rising operational complexity stemming from the protocol’s V4 upgrade and economics it considers unsustainable. This comes despite a proposed budget of $5 million that had been put forward for its continued involvement.The exit raises immediate questions about continuity and risk oversight within the Aave ecosystem. Chaos Labs had been a key contributor…
Quick Summary: A solo Bitcoin miner with just 230 terahash/s of computing power validated block 943,411 and earned roughly $210,000 on April 2. A solo Bitcoin miner operating with a minimal amount of computing power has earned approximately $210,000 after successfully validating block 943,411 on April 2. The reward totaled 3.139 BTC and included both the standard block subsidy and transaction fees collected from that block. The miner’s hashrate stood at around 230 terahash per second, representing just 0.00002% of Bitcoin’s total estimated network hashrate of approximately 1 zettahash per second.Bitcoin mining works by having participants race to solve complex…
