The U.S. Commodity Futures Trading Commission (CFTC) has dropped its appeal in its case against Kalshi, a New York-based prediction market, according to a Monday court filing, finally clearing the way for the platform to offer political event contracts. Under the conditions of the motion for voluntary dismissal, which is still subject to court approval, […]
News from Web3, Bitcoin and crypto crurrency launches and market updates
New Hampshire has become the first state to allow the investment of its public funds into crypto assets with its governor signing the new law on Tuesday. The state beat a number of others to the punch this year as what had started as a surge in state lawmaker momentum had run into roadblocks over […]
Eight decades of dollar history can be read as a three-act play. Act I was the Eurodollar—off-shore bank deposits that sprang up in 1950s London so the Soviet bloc, European exporters, and eventually every multinational could hold dollars outside U.S. regulation, spawning a multi-trillion-dollar shadow banking base. Act II was the Petrodollar. After 1974, OPEC’s […]
Democrats in the U.S. House of Representatives derailed what was supposed to be a joint hearing on crypto policy efforts on Tuesday, insisting that President Donald Trump’s personal crypto dealings were too urgent to allow other discussion on instituting industry regulations. “I object to this joint hearing because of the corruption of the president of […]
Investment bank Compass Point downgraded MARA Holdings (MARA) to a sell rating from neutral on Tuesday, citing unsustainable cash burn. “There’s better ways to get BTC beta,” analysts wrote in the research note, pointing to Marathon’s hash price, now below 5.5 cents, as a signal of declining profitability. At current operational levels, Compass Point estimates […]
Reflections on Those MSTR Bitcoin ‘Earnings’
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MSTR earnings came out May 1. My morning media stops last Thursday (here and here) asked for a preview. We don’t talk about stocks, so I planned to zoom out and hit themes. While preparing, I had to suppress the eye-roll reflexes that MSTR triggers. MSTR, of course, is the ticker symbol for MicroStrategy, or […]
Crypto’s big show in the U.S. Congress has been unveiled in the form of a discussion draft of legislation that would establish for the first time a comprehensive domestic regime for regulating digital assets. The House Financial Services Committee and House Agriculture Committee — both sharing responsibility for the jurisdiction-hoping assets — released a working […]
Corporate treasury buying of bitcoin (BTC) could reach $330 billion by the end of 2029, broker Bernstein said in a research report Monday. Strategy (MSTR) is likely to be the largest buyer, with an additional $124 billion of the world’s largest crypto, in the broker’s bull case. The company led by Michael Saylor announced a […]
A militia group in Burma that allegedly runs a large-scale haven for cyber scammers, the Karen National Army, has been blocked from the U.S. financial system by the Department of the Treasury. The U.S. authorities said Monday that the organization has provided a haven for transnational criminal organizations who use the border region controlled by […]
Bitcoin-holding public companies may be sitting on a powerful market catalyst: untapped issuance capacity that could meaningfully raise bitcoin’s (BTC) price, according to new research from NYDIG. In a report published this week, Greg Cipolaro, the firm’s global head of research, points to the “dry powder” in the form of share issuance potential among bitcoin […]
In the crypto market, bold predictions aren’t just talk – they’re backed by real dollars, often through option plays that resemble lottery tickets offering outsized upside for relatively small costs. The stand-out as of writing is the Deribit-listed $300,000 strike bitcoin call option expiring on June 26. Theoretically, this call is a bet that BTC’s […]
Adopting Michael Saylor’s strategy of buying for the balance sheet has clearly taken off among many publicly traded firms, substantially enriching their stock prices and shareholders. But what does it mean for the future of the bitcoin price? NYDIG Research crunched the numbers, and the results are striking. “If we apply a 10x “money multiplier”—a […]