Crypto Industry News & Market Trends

Polymarket targets $20 billion valuation as competition heats up in prediction market sector

SummaryPolymarket is reportedly pursuing another funding round at a $20 billion valuation.CEO Shayne Coplan says the platform aims to become an information market, not simply a betting venue.Coinbase, Robinhood and rival Kalshi are expanding the prediction markets sector.　　Blockchain-based prediction markets platform Polymarket is looking to raise fresh capital at a $20 billion valuation, Bloomberg reported Tuesday, citing people familiar with the matter.　　According to the person, the company closed a funding round at a $15 billion valuation in April which included a $600 million investment from the Intercontinental Exchange, the owner of the New York Stock Exchange.　　In June, Polymarket told CNBC that its annualized revenue had climbed well above $1 billion even after the platform saw a decline in trading volumes in April and May which were offset by record highs during the World Cup.　　Polymarket founder and CEO Shayne Coplan has long argued Polymarket should be viewed as an information platform rather than a betting site. In a March appearance, he said prediction markets let people “put your money where your mouth is” when they disagree with consensus, describing the platform as “a very useful thermometer of the world” that helps people assess the likelihood of future events. He also said

08-05Industry

ARK Invest buys $9.4M in Coinbase and Circle stock

Cathie Woods ARK Invest bought about $9.4 million worth of Coinbase and Circle shares on Aug. 3 as the U.S. Senate considered its next steps on the CLARITY Act.　　SummaryARK Invest purchased 54,776 Coinbase shares worth about $8.02 millionacross three ETFs.Two ARK funds added 23,070 Circle shares valued at roughly $1.39 million.Coinbase rebounded to $149.12, but bearish momentum and resistance near $157 remain.Senate leaders have listed the CLARITY Act as a priority, though no floor vote is scheduled.　　ARK Invest adds $8 million in Coinbase shares　　ARK Invest spread its Coinbase purchase across three exchange-traded funds, according to the firms latest trade disclosure.　　The ARK Innovation ETF bought 38,761 Coinbase shares, making it the largest buyer among the three funds. Based on Coinbases Aug. 3 closing price of $146.50, the transaction was worth approximately $5.68 million.　　ARKs Next Generation Internet ETF added another 11,133 shares valued at about $1.63 million. The ARK Fintech Innovation ETF purchased 4,882 shares worth roughly $715,000.　　You might also like:　　ARK Invest buys $40M in Tesla, SpaceX, and Nvidia during market rout　　Combined, the three ETFs acquired 54,776 Coinbase shares for approximately $8.02 million.　　Coinbase closed the Aug. 3 session 0.16% higher. The purchase expanded ARKs exposure to one of the largest publicly traded

08-04Industry

Dinari launches tokenized S&P 500 stocks for US self-custody wallets using USDC

Quick TakeThe firm says its the first to let U.S. investors trade over 700 tokenized stocks with USDC in self-custody wallets, thanks in part to a partnership with Circle.Dinaris tokenized equities, called dShares, are backed by a corresponding security held in custody, it said.The company said the market for tokenized stocks could prove limited, making it harder to “sell at a desired time or price.”　　Dinari said Tuesday it has become the first company to allow eligible U.S. investors to trade over 700 tokenized stocks using USDC through self-custody wallets.　　Through a partnership with Circle, U.S. individuals and businesses can buy and sell every stock in the S&P 500 directly onchain, the firm said.　　“For decades, investing and digital assets have existed in separate financial systems,” Dinari co-founder and CEO Gabriel Otte said in a statement. “This launch brings them together, allowing investors to move seamlessly between stablecoins and U.S. equities while preserving the protections of traditional capital markets.”　　Dinaris tokenized equities, called dShares, are each backed by a corresponding underlying security held in qualified custody, the firm said. The company warned that markets for tokenized securities may be limited, potentially making them harder to sell at a desired time or price.　　Tokenizing equities has

08-04Industry

BitGo moves $7.4 billion Wrapped Bitcoins to Chainlink CCIP in latest LayerZero exodus

Quick TakeBitGo is migrating its $7.4 billion worth of WBTC — the largest wrapped bitcoin token — from LayerZero to Chainlinks CCIP as its exclusive cross-chain standard.The switch pushes the total value migrating from LayerZero to Chainlink near $15 billion and sets CCIP as the default for all future BitGo-issued assets.　　BitGo is switching Wrapped Bitcoin (WBTC) — an asset with a current $7.4 billion market cap — to Chainlinks CCIP cross-chain standard, joining a broader shift away from LayerZero after the $292 million KelpDAO bridge exploit earlier this year, according to an announcement on Tuesday.　　“BitGo has long been built around a simple principle: security comes first,” BitGo CEO Mike Belshe said in a statement. “As we expand support for BitGo-issued assets across more chains, Chainlink CCIP gives us a proven, institutionally adopted interoperability standard that aligns with the controls, reliability, and risk management our clients expect from BitGo. ”　　The company has also said it will exclusively use CCIP as its inter-blockchain solution for all “future BitGo-issued assets” going forward. WBTC was previously the largest asset using LayerZeros OFT standard.　　Dozens of projects have switched to Chainlink in recent months, including other wrapped bitcoins like Kraken‘s kBTC and the Bitcoin-centric DeFi platform

08-04Industry

Bitcoins $63,000 zone emerges as key battleground for buyers: Glassnode

SummaryRoughly 515,000 BTC, more than 3% of the circulating supply, is concentrated around the $63,000 price level.All wallet cohorts are accumulating, with retail investors and whales holding at least 1,000 BTC showing the strongest buying activity.　　Bitcoin has traded between $60,000 and $67,000 for several weeks, making $63,000 one of the most heavily supplied price areas. The only larger concentration sits between $78,000 and $82,000, where bitcoin topped out in May.　　Glassnode‘s Entity-Adjusted UTXO Realized Price Distribution (URPD) shows how much bitcoin supply last moved within each price band, with each entity’s balance assigned to its average acquisition price. More than 3% of the supply, approximately 515,000 BTC, is concentrated around $63,000, while more than 2%, or roughly 362,000 BTC, sits around $61,000.　　Bitcoin is also trading almost exactly in line with its 200-week moving average, which tracks the asset‘s average weekly price over the past 200 weeks. The indicator currently stands at $63,657, compared with bitcoin’s price of $63,822, highlighting significant accumulation in this range.　　Glassnodes 30-day Accumulation Trend Score, broken down by wallet-size cohort, shows that retail investors are currently the most aggressive buyers at these prices. Every other cohort is also accumulating, including whales holding at least 1,000 BTC, which are

08-04Industry

TRUMP coin faces SEC fraud probe call after 98% crash

Democratic senators Elizabeth Warren and Richard Blumenthal have asked the SEC to investigate whether the TRUMP meme coin facilitated fraud or improper enrichment after its value collapsed 98% from its peak.　　Senators ask SEC to investigate TRUMP coin　　Warren and Blumenthal sent a letter to SEC Chair Paul Atkins asking the agency to determine whether the president-linked token involved illegal fraudulent activity or allowed insiders to obtain improper gains.　　“We are concerned that President Trumps memecoin scheme may constitute an illegal scam,” the lawmakers wrote, according to CNN reporting cited by multiple outlets.　　The senators reportedly asked the SEC to examine whether the project operated as a “soft rug pull.” The term describes a situation in which insiders or developers gradually withdraw support or extract value instead of abandoning a project in one sudden move.　　Their letter does not establish that fraud occurred. The SEC would need to determine whether federal securities laws apply to the token and whether its promotion, distribution, or trading involved any legal violations.　　TRUMP coin investors lost $3.81 billion　　The lawmakers cited the scale of investor losses surrounding the Solana-based token, which launched shortly before Trump returned to the White House in January 2025.　　Data from blockchain analytics firm Nansen showed that 988,905

08-04Industry

Dinari opens tokenized S&P 500 stock trading to U.S. investors

Dinari has introduced tokenized access to the entire S&P 500 for U.S. investors, allowing eligible users to trade blockchain-based shares backed one-to-one by underlying securities.　　SummaryDinari has launched tokenized versions of all S&P 500 stocks for eligible U.S. investors.Users can buy and sell blockchain based equities through self custody wallets funded with USDC.Each tokenized share is backed by an underlying security held in regulated custody and carries investor rights.The launch comes as competition in tokenized equities continues to grow among crypto and financial firms.Dinari says its platform is already available across 85 jurisdictions and supports more than 6,100 tokenized assets.　　According to Fortune, the launch expands Dinaris blockchain-based equities platform through a wallet-first system that lets users fund accounts with USDC instead of relying on traditional brokerage infrastructure.　　The rollout allows eligible U.S. users to buy and sell tokenized shares through self-custody wallets instead of conventional brokerage accounts.　　Dinari said the launch combines tokenized equities with stablecoin payments through a partnership with Circle, creating what it describes as a link between the roughly $300 billion stablecoin market and the more than $60 trillion U.S. equities market.　　Circle declined to comment, citing a quiet period ahead of its upcoming earnings report.　　Dinari replaces traditional brokerage access with

08-04Industry

As Clarity Act teeters, mystery group hammers away at crypto in Washington ads

SummaryCrypto Watchdog has suddenly appeared to trumpet about the dangers of crypto in the 11th hour of the Senate‘s Clarity Act negotiations, but the group’s financial backing is being kept secret.The organization has been running TV and online ads in the Washington area, linking digital assets with terrorists and drug cartels as lawmakers try to finish work on the crypto market structure legislation.　　The crypto industrys central policy drive is to get U.S. laws that elevate it to a fully regulated and government-approved corner of the financial system. While the legislation to do that is struggling with its final Senate test, a mystery organization is flooding Washington, DC, with ads linking crypto to terrorists and drug cartels.　　Across television and social media, the localized campaign warns in one example: “The worst people operating in the darkest places use crypto because there are no guardrails,” citing connections to drug cartels, terrorists and people praying against seniors.　　“Lets bring crypto out of the shadows now,” the ads say.　　The recently emerging group behind the campaign is Crypto Watchdog, run by Executive Director Chapin Fay, a media strategist who had been involved in past Republican political campaigns but hadnt been previously associated with crypto matters.　　“Our mission is

08-04Industry

US yen intervention puts Bitcoin, risk assets on notice for liquidity flux

Joint currency interventions in the yen by Japan and the US could ultimately benefit Bitcoin and risk assets.　　Key points:The first joint intervention in the yen between Japan and the US since the late 1990s could set a precedent for future moves.A liquidity crisis tied to the yen carry trade poses questions for Bitcoin (BTC) and risk assets as the two countries attempt a juggling act to stabilize the currency without impairing US Treasury markets.Japanese two-year bond yields rose above 1.57% on Monday.　　Bessent signals new era of US yen involvement　　Washingtons growing coordination with the Bank of Japan (BoJ) points to a potential boost in global dollar liquidity — even as it runs up against a yen carry trade unwind that could squeeze liquidity if it deepens further.　　Last week, the US and Japan conducted a rare joint intervention to prop up the yen, which had slid to 40-year lows of 164 per dollar — the first of its kind since 1998. The New York Federal Reserve Bank sold euros, rather than dollars, on behalf of the US Treasury. The sales involved the Exchange Stabilization Fund, or ESF, a stockpile of foreign exchange reserves.　　USD/JPY one-day chart for Tuesday. Source: Cointelegraph/TradingView　　Subsequently, US Treasury Secretary

08-04Industry

Former FBI supervisor admits guilt in $1M crypto theft

Former FBI supervisory agent Patrick Steven Yaroch was charged with using internal systems to obtain credentials for cryptocurrency wallets linked to an adversarial country, which he used to transfer funds to his own crypto wallets.　　Yaroch admitted to 10 unauthorized transfers between late 2024 and early 2025 that involved an estimated total of $1 million in digital assets, some of which he deposited into Suilend to earn yield, according to a Saturday US Federal court filing.　　After self-reporting the incident, Yaroch was placed on administrative leave last Wednesday, terminated and then arrested on Friday. Agents retrieved devices, seed phrases and a Trezor wallet from his Virginia residence to access his accounts on Suilend and crypto exchange Kraken. With his cooperation, they transferred roughly $925,000 in funds to government-controlled wallets.　　In May, Yaroch used ChatGPT for advice.　　“If I had a million dollars, how would you suggest investing it/spending it to maximize profit and return,” he wrote in the AI prompt, according to the court filing. ChatGPT suggested “building a slower-living vineyard/agricultural lifestyle in places like Cilento or Portugals Dão region.”　　Yaroch is the latest case of crypto theft involving a federal agent. In 2015, former DEA special agent Carl M. Force diverted about $700,000 in

08-04Industry

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