New York City Council opens probe into prediction market platforms

Quick TakeThe NYC Council said it would look into allegations that Polymarket paid social media creators to film themselves placing fake bets and wins on replicas of the site, which The Wall Street Journal reported in June.State officials across the country have increasingly raised concerns about prediction markets, an industry now valued at billions of dollars.  The New York City Council has opened a probe into four prediction market platforms over alleged “false, deceptive, or abusive marketing tactics” targeting younger people.  The council sent letters to Kalshi, Polymarket, Coinbase, and Gemini Titan, according to a statement on Wednesday.  “For months, the Council has been looking into issues related to allegations of predatory marketing practices associated with the prediction market industry, which has grown rapidly in New York City,” the council said in the statement. “Some of these practices raise serious concerns.”  State officials across the country have increasingly raised concerns about prediction markets, an industry now valued at billions of dollars. Much of the concern has centered on platforms offering sports-related contracts, which states argue can amount to gambling and violate their gaming laws.  Insider trading has also emerged as a concern. In April, New York Gov. Kathy Hochul signed an executive order prohibiting state

3 دن پہلےانڈسٹری

Miden bets on privacy stablecoins with introduction of USDCx

SummaryMiden plans to introduce USDCx, a native stablecoin backed 1:1 by USDC held through Circles xReserve infrastructure.Transactions will be private by default, while users can selectively prove balances, provenance and other information to auditors, regulators and counterparties.The stablecoin is expected to debut at the end of this month with the Miden mainnet, targeting payments, trading, payroll and corporate treasury use cases.  Miden is planning to introduce a privacy-focused stablecoin backed by Circle Internets USDC at the same time as the zero-knowledge blockchain prepares to debut its mainnet  Issued natively on Miden using Circle‘s xReserve infrastructure, USDCx will be backed 1:1 by Circle’s stablecoin held in an xReserve smart contract, the company said in a press release Wednesday.  Users will be able to hold and transfer USDCx without publicly revealing balances, counterparties or transaction histories.  The stablecoin is expected to go live at the same time as the Miden mainnet, targeted for the end of this month.  Miden is a California-based zero-knowledge blockchain built around client-side proving, where transactions are executed and proved on users devices rather than exposed to the network. The design is intended to provide applications with privacy by default while allowing users to selectively disclose information when needed.  The product targets one of

3 دن پہلےانڈسٹری

History Repeating? Bitcoin Chart Mimics Exact Pattern That Sparked 2023 Rally

The leading cryptocurrency has been squeezed into a narrow range around $63,700, while the Bollinger Band Width indicator on the daily chart has contracted to its lowest level since October 2023, pinching the price action into an extreme technical threshold.  In traders language, this condition is called a “squeeze” — a phase of extremely low volatility that has historically been followed by a powerful price explosion.  Bitcoin price chart since 2023 in context of Bollinger Bands Width indicator, Source: Barchart  The current chart by Barchart draws a direct parallel with the events of three years ago. In the fall of 2023, an identical narrowing of the Bollinger Bands triggered a massive two-year rally. Bitcoin started at levels slightly above $20,000 and ultimately gained more than 330%, reaching a peak above $130,000 by mid-2025.  Bitcoin Price Analysis  Fed factor: How Julys CPI report changes the math for Bitcoins next move  Now the historical spring has once again been compressed to its limit, and the market has finally received a powerful external catalyst. The latest Consumer Price Index (CPI) data for July, released today, came in line with market expectations.  As observers note, the report reduces pressure on the Federal Reserve and gives officials room to keep interest rates

3 دن پہلےانڈسٹری

Bitcoin Prints Early Bullish Signal as Price Retains $64,000 Spot

Although Bitcoin has continued to trade downwards, the worlds largest crypto asset is showing signs that the market could be getting ready for another move higher.  Ethereum Price Analysis  Amid the inconsistent price moves, Cryptoquant analysts have shared onchain data that unveils a second early bullish signal appearing on its chart.  Bitcoin bottom soon?  The analyst revealed that Bitcoins early bull signal has appeared for the second time in the cycle, which suggests that it could be preparing for a major price rally.  According to him, such a signal could not be overlooked as the pattern has previously appeared around Bitcoins bottoming phases, before the asset moved into an uptrend.  Previously, the first Bitcoin early bull signal was followed by another decline. However, the second signal eventually emerged as the market was forming a bottom and preparing for a recovery.  As such, the analyst expressed belief that Bitcoin could be approaching its bottom again, especially now that the second early bull signal has reappeared.  Bitcoin holds around $64,000  Despite the bullish signal flashed by Bitcoin, the asset has continued to hold around the $64,000 price level.  Ethereum Price Analysis  Interestingly, market analysts believe that this level could become crucial for Bitcoin in deciding its next price move amid the rising signals.  Notably,

3 دن پہلےانڈسٹری

A Routing Bug Took Solana 86% of the Way to Losing Finality

In briefAlmost 29% of staked SOL went delinquent early Wednesday after a routing fault at hosting provider Teraswitch, against the 33% at which Solana stops finalizing blocks.One network, AS20326, holds some 27% of staked SOL, above the 25% cap the Solana Foundations delegation program sets, and 94% of it went dark at once.Around 90 validators were affected, losing a combined 333 SOL in rewards.  Solana came within 4.51 percentage points of losing the ability to finalize transactions on Wednesday morning, after a single misconfigured route at one hosting provider knocked 28.83% of staked SOL offline. The chain stops finalizing at 33.34%, meaning the network got roughly 86% of the way there.  Teraswitch, the provider, has published a writeup explaining how it happened. The company uses a default route internally to signal that an edge router can reach the internet, with each site normally preferring the one its own routers originate. A default route from its Miami site was propagated with its metric and communities stripped, and a route reflector in Amsterdam pushed it into Europe and Asia-Pacific.  Edge routers there read it as locally originated and preferred it over their real one, then passed it to the data center core, which rejected it

3 دن پہلےانڈسٹری

Kalshi first prediction market to stream full order books via DoubleZero

Quick TakeKalshi has become the first prediction market to distribute real-time order book data via DoubleZero Edge, a low-latency multicast feed using its dedicated global fiber network.The move gives institutional traders direct access to Level 1 and Level 2 data without having to reconstruct the book from APIs.  Kalshi has become the first prediction market to distribute real-time order book data on DoubleZero Edge, the low-latency market-data feed delivery service running over dedicated fiber, according to an announcement on Wednesday.  The data, being made available for Edge subscribers, will start with full order book depth for the most actively traded contracts in sports events and crypto perpetual futures.  DoubleZero Edge is a transport layer that uses multicast to publish machine-readable data once and deliver it simultaneously to connected traders, an approach also employed by traditional exchanges such as the NYSE, NASDAQ, and CME.  Previously, the announcement claims, firms often had to reconstruct Kalshi book state themselves from API responses.  “Traditional finance got this concept exactly right: data access is a critical part of market structure,” Austin Federa, co-founder of DoubleZero and former comms lead for the Solana Foundation, said. New Finance, like crypto, perps, and prediction markets, has been built without this infrastructure.  Federa notes that

3 دن پہلےانڈسٹری

SHIB Security Alert: Unexpected Wallet Requests Prompt Warning to Shiba Inu Holders

As the focus shifts to wallet security, Shibburn, which tracks Shiba Inu burns in real time, has shared a crucial warning to the Shiba Inu community.  2026 has already witnessed major DeFi exploits, exchange breaches, and a cold storage failure. The Coldcard exploit that swept Bitcoin out of wallets secured by Coldcard hardware devices reinforces that self-custody relocates risk rather than eliminating it.  Amid this, Shibburn reminds the SHIB community that unfamiliar wallet requests should not be treated casually. In an X post, Shibburn warns the SHIB community to exercise caution when interacting with unexpected wallet requests, particularly those asking to approve permissions or sign transactions.  “Unexpected wallet requests deserve caution. Read every permission before signing,” Shibburn wrote in an X post. The reminder highlights a broader security issue facing crypto users: a transaction that appears routine might grant a decentralized application permissions that users may not fully understand.  Crypto Event Calendar  In a separate X post, also addressing wallet security, Shibburn warns SHIB users never to share a seed phrase or private key, as legitimate support teams will not ask for either.  2,604,774 SHIB Burned  According to the Shibburn website, a total of 2,604,774 SHIB has been burned in the last 24 hours; however, the daily

3 دن پہلےانڈسٹری

Bitcoin miners earn under 0.7% of revenue from fees in new 10-year low

Bitcoin (BTC) transaction fees now account for just 0.69% of miner revenue as major players pivot to AI.  Key points:Bitcoin miners now rely on block subsidies more than at any time in the past decade, data shows.Bitcoin hash rate has declined by 33% since October 2025.Analysts warn that miners switching to AI could affect the network.  Bitcoin miner fee revenue share returns to 2016 levels  Data from onchain analytics platform Glassnode shows that fees as a proportion of miner revenue remain near decade lows after falling to just 0.52% in April.  Miners face ongoing pressure as declining Bitcoin prices and rising electricity costs squeeze profits and force smaller players out of the market. Glassnode co-founder Rafael Schultze-Kraft noted that fees had made up less than 1% of miner revenue for almost a year.  “Bitcoin was below $400 the last time fee share was this low,” he said on X.  Bitcoin fees as a portion of miner revenue. Source: Rafael Schultze-Kraft on X.com  When transaction fee revenue drops, miners increasingly depend on the fixed block subsidy for income — the amount of newly minted BTC awarded for each mined block, currently 3.125 BTC. Bitcoin‘s value has fallen nearly 50% since its October 2025 all-time high, dragging down the

3 دن پہلےانڈسٹری

U.S. CPI inflation slows to 3.4% as expected, bitcoin holds near $64,000

SummaryHeadline CPI rose 0.1% month over month and 3.4% year over year in July.Core CPI increased 0.2% monthly and 2.5% annually, both matching forecasts.Bitcoin held near $64,000 following the report.  U.S. inflation in July was in line with expectations, leaving expectations for another Federal Reserve rate hike broadly unchanged.  The Consumer Price Index (CPI) rose 0.1% in July from the previous month, compared with economists‘ forecast for a 0.1% increase and June’s 0.4% decline.  On a year-over-year basis, CPI rose 3.4%, in line with forecasts and slightly lower than Junes 3.5% reading.  Core CPI, which excludes food and energy, rose 0.2% month over month in July, compared with forecasts for a 0.2% increase and an unchanged reading in June. On a year-over-year basis, core CPI rose 2.5% as expected by analysts and edging lower from Junes 2.6%.  Bitcoin fell from $64,400 to $64,080 in a knee-jerk reaction before stabilizing, still largely flat over 24 hours. Nasdaq 100 futures traded 0.7% higher.  Treasury yields remained under pressure, maintaining pre-CPI weakness. The two-year hovered at 4.19%, down 3.6 basis points on the day, and the 10-year yield stood at 4.66%, also down three basis points.  Already a key data point for markets, Julys CPI report took on added importance

3 دن پہلےانڈسٹری

Standard Chartered-led Anchorpoint launches Hong Kong dollar stablecoin

SummaryStandard Chartered-led Anchorpoint launched beta access for its HKDAP stablecoin, following its Hong Kong issuer licence secured earlier this year.HashKey Exchange and OSL Group are now authorized distributors, enabling institutional and professional investors to mint and redeem HKDAP tokens.Anchorpoint, a venture with Animoca Brands and HKT, plans to expand HKDAP to retail users by late 2026, targeting broader financial applications.  Standard Chartered-led Anchorpoint Financial has started a limited rollout of HKDAP, its Hong Kong dollar-backed stablecoin, four months after securing one of the citys first two issuer licences.  The initial rollout will focus on institutional payments and settlement before adding more access channels and cross-border applications.  HashKey Exchange and OSL Group joined as authorized distributors, allowing eligible institutions and professional investors to obtain HKDAP through their apps and other supported channels, according to separate .  HashKey said it had completed its first minting and redemption transaction for the token, including conversions between HKDAP and fiat currency.  Anchorpoint, a joint venture between Standard Chartered, Animoca Brands and HKT, plans to use distributors and commercial partners to bring the token into payments, settlement and other financial applications. HKDAP stands for “Hong Kong dollar at par.”  Stablecoins are cryptocurrencies with values pegged to an external reference such as fiat

3 دن پہلےانڈسٹری
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