šŸ” Market Summary

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Major fantasy sports operator enters prediction markets with Polymarket

Major fantasy sports operator enters prediction markets with Polymarket

PrizePicks, one of North America’s largest daily fantasy sports operators, has partnered with Polymarket to expand into the prediction-markets space — a move that could open new revenue streams beyond its core fantasy sports business.The partnership will integrate Polymarket’s event contracts direct…

Senate approves funding bill to reopen US gov’t, awaits vote in House

Senate approves funding bill to reopen US gov’t, awaits vote in House

The US government is moving closer to reopening after more than 40 days of being shut down, following several Democratic lawmakers in the Senate siding with Republicans to pass a funding bill.On Monday, the US Senate held a late-night vote for a bill ā€œcontinuing appropriations and extensions for fis…

JPMorgan, DBS eye deposit tokens as cross-bank alternative to stablecoins

JPMorgan, DBS eye deposit tokens as cross-bank alternative to stablecoins

Leading financial institutions are continuing to explore blockchain technology to facilitate cheaper and faster institutional payments, signaling a growing interest in tokenization solutions.US investment bank JPMorgan and Singapore multinational banking group DBS announced Tuesday that they are dev…

61% of institutions plan to boost crypto exposure despite October crash: Sygnum

61% of institutions plan to boost crypto exposure despite October crash: Sygnum

Institutional investors are maintaining confidence in digital assets despite a sharp market correction in October, with most planning to expand their exposure in the months ahead, according to new research.Over 61% of institutions plan to increase their cryptocurrency investments, while 55% hold a b…

Brazil classifies stablecoin payments as foreign exchange under new rules

Brazil classifies stablecoin payments as foreign exchange under new rules

Brazil’s central bank completed rules that bring crypto companies under banking-style oversight, classifying stablecoin transactions and certain self-custody wallet transfers as foreign-exchange operations.Ā Under Resolutions 519, 520 and 521, published Monday, the Banco Central do Brasil (BCB) estab…

Bitcoin signals bullish reversal as ā€˜apparent demand’ hits four-month highs

Bitcoin signals bullish reversal as ā€˜apparent demand’ hits four-month highs

Key takeaways:Bitcoin spot demand has flipped positive, signaling a potential bullish reversal.Increasing spot volume suggests higher speculative activity.Ā BTC price must reclaim $110,000 as support to secure the recovery.Demand for Bitcoin has shown signs of recovery, signaling a possible bullish …

CleanSpark plans $1.15B raise to expand Bitcoin mining, AI infrastructure

CleanSpark plans $1.15B raise to expand Bitcoin mining, AI infrastructure

Nasdaq-listed Bitcoin mining company CleanSpark is raising capital to expand its mining and data center operations, as major miners pivot toward artificial intelligence (AI) infrastructure.CleanSpark announced a $1.15 billion senior convertible note offering on Tuesday, aiming to raise more capital …

Gemini bets on ā€˜super app’ as stock sinks to record low on Q3 results

Gemini bets on ā€˜super app’ as stock sinks to record low on Q3 results

Investors sold off shares of the crypto exchange Gemini on Monday, sending the stock to an all-time low after the bell, as the company’s first quarterly results showed losses due to the expense of going public.Gemini released its third-quarter results on Monday, its first after going public in Septe…

Bitcoin chatter surges as price recovers, US govt shutdown nears end

Bitcoin chatter surges as price recovers, US govt shutdown nears end

Bitcoin has been trending on social media over the last few days as US politicians have been working toward an end to the disruptive US government shutdown, culminating in the Senate’s passage of the highly contested funding bill on Monday.Ā It reportedly took around 10 hours for Republicans to get t…

Zcash may see ā€˜violent end’ as ZEC price rallies 1500% in just two months

Zcash may see ā€˜violent end’ as ZEC price rallies 1500% in just two months

Key takeaways:ZEC is extremely overbought on the charts, risking a correction in the coming weeks.Zcash can still rally toward $900–$1,000 if the parabolic advance holds.Zcash has skyrocketed by around 1,500% in the past two months, surging to $750—its highest level since January 2018—especially fo…

Why Tether is acting more like a central bank than a stablecoin

Why Tether is acting more like a central bank than a stablecoin

Key takeawaysTether operates a Treasury- and repo-heavy balance sheet, holding $181.2 billion in reserves against $174.5 billion in liabilities, leaving $6.8 billion in excess.High interest rates have turned those reserves into profit, generating more than $10 billion in interest income so far in 20…

Strategy adds $50M in Bitcoin holdings to crypto stockpile

Strategy adds $50M in Bitcoin holdings to crypto stockpile

Michael Saylor’s Strategy increased its cryptocurrency buying strategy by acquiring 487 Bitcoin worth about $50 million, marking an escalation over its previous week’s report.In a Monday filing with the US Securities and Exchange Commission, Strategy said it had acquired 487 Bitcoin at an average p…