Quick Summary: Polymarket is upgrading its exchange infrastructure with a new 1:1 USDC-backed token called Polymarket USD to replace bridged USDC.e. Polymarket is preparing a full exchange upgrade set to roll out in the coming weeks. Central to the overhaul is the introduction of a new collateral token called Polymarket USD, which will be backed 1:1 by USDC. The new token is designed to replace the currently used bridged USDC.e on the platform.The transition to Polymarket USD is primarily aimed at reducing risks associated with bridge infrastructure. By moving away from a bridged asset, the platform seeks to gain tighter…
Author:
Quick Summary: Senator Bill Hagerty says the Senate Banking Committee could advance a major crypto market structure bill within the next several weeks. Senate Banking Committee member Bill Hagerty said Monday that a path forward for digital asset market structure legislation could emerge within weeks, following months of delays in Congress. Speaking at the Digital Assets and Emerging Tech Policy Summit at Vanderbilt University, the Tennessee senator said Republican lawmakers plan to move the bill through the banking panel beginning as early as next week. He expressed optimism that the committee markup could be completed over the coming work period.…
Quick Summary: Bloomberg Intelligence’s Mike McGlone warns Bitcoin may fall over 85% to $10,000, citing unwinding pandemic-era liquidity and crypto market excesses. Bloomberg Intelligence Senior Commodities Strategist Mike McGlone has reiterated his warning that Bitcoin’s price could collapse to $10,000, a level not seen since July 2020. In a post on LinkedIn, McGlone suggested that what he describes as the largest monetary stimulus in history may now be reversing course. With Bitcoin trading near $70,000 on Monday, reaching that target would require a decline of more than 85%. At $10,000, Bitcoin’s market capitalization would stand at roughly $200 billion, compared…
Quick Summary: A Third Circuit panel ruled New Jersey cannot ban Kalshi, finding its sports-event contracts fall under federal commodity law rather than state gambling rules. A Third Circuit panel has ruled that New Jersey cannot impose a temporary ban on prediction market platform Kalshi, delivering a significant legal victory for the company. The court determined that Kalshi’s sports-event contracts are governed by federal law rather than state gambling regulations. The decision has broad implications for how prediction markets operate across the United States.At the center of the dispute is whether Kalshi’s sports-related contracts constitute gambling under New Jersey law…
Quick Summary: Bitcoin climbed above $70,000 on Monday afternoon as contrarian buy signals began to emerge in the market. Bitcoin rose above the $70,000 mark during afternoon trading hours in the United States on Monday. The price movement attracted attention from market observers tracking momentum in the cryptocurrency space. The climb coincided with the appearance of several signals that contrarian investors often interpret as bullish indicators.Among the signals noted were the departure of an executive from a bitcoin treasury company and bearish commentary from a prominent long-term supporter of the cryptocurrency. Contrarian investors typically view such developments as potential buy…
Quick Summary: Bernstein analysts rate Figure Technology ‘Outperform’ with a $67 price target, nearly double its current trading price of around $32. Bernstein analysts have initiated coverage of Figure Technology Solutions with an ‘Outperform’ rating and a price target of $67, suggesting the blockchain-based lending platform may be significantly undervalued at its current trading level of approximately $32. The recommendation was published in a report on Monday. Analysts cited accelerating loan originations and the scaling of Figure’s tokenized credit marketplace as key drivers of their bullish outlook.Figure’s lending activity has shown notable momentum in recent months. The company originated $1.2…
Quick Summary: CoinDesk, owned by Bullish, maintains editorial independence policies while acknowledging staff may receive equity-based compensation from its parent company. CoinDesk is a media outlet focused on covering the cryptocurrency industry that describes itself as award-winning. The outlet states that its journalists follow a strict set of editorial policies designed to guide their reporting. These policies are intended to uphold standards across all of its publications.The organization has adopted a formal set of principles aimed at preserving integrity, editorial independence, and freedom from bias. These principles apply broadly to the content CoinDesk produces and publishes. The outlet presents these…
Quick Summary: JPMorgan CEO Jamie Dimon says tokenization, stablecoins, and smart contracts are emerging competitors that could reshape core banking functions. Jamie Dimon has issued a stark warning that blockchain-based technologies are positioning themselves as direct competitors to conventional banking. The JPMorgan chief identified tokenization, stablecoins, and smart contracts as forces capable of fundamentally altering how payments, trading, and asset management operate. His comments signal a growing recognition within the banking industry that digital financial infrastructure is no longer a distant concern.Dimon pointed specifically to the threat these technologies pose to fee income and bank deposits. Near-instant settlement and direct…
Quick Summary: OpenAI CEO Sam Altman warns advanced AI is entering daily economic use while cybersecurity risks grow, with over $1.4 billion in crypto assets stolen last year. OpenAI CEO Sam Altman has cautioned that advanced artificial intelligence is rapidly moving into everyday economic activity, with next-generation models expected to reshape how work is performed across industries. Altman suggested these models could assist scientists in making significant discoveries and allow individuals to carry out tasks that would otherwise require entire teams. The remarks underscore a broader shift in how AI capabilities are being deployed beyond research environments and into practical,…
Quick Summary: Arc, a Circle-backed layer-1 blockchain, will include post-quantum signature support at mainnet launch to guard against future quantum computing threats. Arc, an upcoming layer-1 blockchain backed by USDC stablecoin issuer Circle, has announced that its mainnet launch will include post-quantum signature support. The move is part of a broader roadmap designed to address mounting concerns about quantum computing’s potential to undermine existing cryptographic systems. The Ethereum Virtual Machine-compatible network is specifically aimed at protecting institutional digital assets from future quantum-enabled attacks.Arc’s quantum-resistance roadmap covers several areas, including wallets, private smart contract state, validator authentication, and supporting infrastructure. The…
