Author: Benjamin Lee

The crypto-based prediction market Polymarket is going to battle against the state of Massachusetts. Polymarket’s chief legal officer, Neal Kumar, says the firm has filed a federal lawsuit against the state, highlighting jurisdictional questions about event contracts. “Congress gave the CFTC, not states, exclusive authority over event contracts. These are national markets with critical questions that must be resolved in federal court.  Racing to state court to try to shut down Polymarket US and other prediction markets doesn’t change federal law — and states like MA and NV that have done so will miss an amazing opportunity to help build…

The crypto wallet provider MetaMask has taken the top spot in Santiment’s latest rankings for overall development activity, according to new data from the blockchain analytics firm. In a new post on X, Santiment shared its most recent list of crypto projects with the highest level of notable GitHub development over the past 30 days, tracking changes in rankings compared to the previous month. [adinserter block=”1″] “Here are crypto’s top overall coins by notable development activity the past 30 days. Directional indicators represent each project’s rank rise or fall since last month.” Source: Santiment/X According to the rankings, MetaMask placed…

An analyst known for making timely crypto calls believes one Ethereum (ETH) rival is now forming a market bottom. Pseudonymous analyst Bluntz tells his 337,200 followers on X that Solana (SOL) is likely completing a three-wave correction and could soon enter a long-term bullish phase. Bluntz practices the Elliott Wave theory, which states that a bullish asset tends to witness a five-wave rally after going through an the ABC correction. “Anybody who’s not a tourist and has actually witnessed multiple cycles knows this is an amazing long-term SOL entry. For the record, the reason I’m bull-posting SOL more than anything…

Institutional investors just sold $173 million in Bitcoin and crypto investment products in one week, according to a new update from CoinShares. The digital asset firm says outflows have now totaled a whopping $3.74 billion in the last month, as the price of BTC dropped from around $95,400 to a low of $62,800. Last week, Bitcoin witnessed $133 million in outflows. Ethereum followed with $85.1 million outflows. Some altcoins bucked the trend, with XRP attracting $33.4 million inflows, Solana $31 million and Chainlink $1.1 million. Regionally, the US led with $403 million outflows. That was offset by $230 million inflows elsewhere,…

Traders betting on a Bitcoin and crypto bounce are getting wrecked to start the week. Bitcoin dropped from a 24-hour high of $67,695 to as low as $63,962, triggering a total of $616.41 million in liquidations, according to CoinGlass. The vast majority of the liquidations hit traders going long, coming in at $524.28 million. BTC has recorded five consecutive red monthly candles, marking one of the longest losing streaks in Bitcoin’s history. Today’s plunge follows a broader market pullback, as markets assess the impact of the Supreme Court’s ruling against Trump’s tariffs. Zooming out, crypto analyst Michaël van de Poppe…

Institutional investors just sold an overall total of $288 million in Bitcoin and crypto assets in one week, according to a new update from Coinshares. The outflows mark the fifth consecutive week of selling, bringing cumulative year-to-date outflows to $4 billion. Bitcoin drove the bulk of the selling with $215 million in outflows. Short-bitcoin products attracted $5.5 million in inflows, the largest of any asset. Ethereum posted the second-largest outflows at $36.5 million. Multi-asset products lost $32.5 million, while Tron recorded $18.9 million in outflows. Minor inflows hit select altcoins, with XRP gaining $3.5 million, Solana adding $3.3 million and…

USD1, a stablecoin affiliated with President Donald Trump, just briefly dipped below its $1.00 price peg. The asset slipped to $0.9942 on Monday morning, before regaining its peg within a couple of hours. The decentralized finance (DeFi) project World Liberty Financial (WLFI), which issues USD1, attributed the volatility to a “coordinated attack” from hackers. “Attackers hacked several WLFI cofounder accounts, paid influencers to spread FUD, and opened massive WLFI shorts to profit from the manufactured chaos. It didn’t work. Thanks to USD1’s sound mint-and-redeem mechanism and full 1:1 backing, we are trading steadily at par. No scammer can shake the…

Institutional investors just bought an overall total of $1 billion in Bitcoin and crypto assets in one week, according to a new update from Coinshares. The inflows mark a reversal from a five-week streak of outflows totaling $4 billion. Bitcoin dominated the buying, drawing $881 million. Ethereum followed with $117 million in inflows, marking its strongest week since mid-January. Among altcoins, Solana led with $53.8 million. The rebound was broad-based geographically. The US accounted for the bulk at $957 million, Canada saw $34.1 million, Germany $31.7 million and Switzerland $28.4 million. CoinShares attributes the shift to recent price weakness and…

Institutional investors just bought an overall total of $619 million in Bitcoin and crypto assets in one week, according to a new update from CoinShares. The outflows came despite significant late-week outflows. Crypto products saw $1.44 billion in inflows during the first three days, then $829 million flowed out on Thursday and Friday amid market volatility tied to rising oil prices. Bitcoin led the gains with $521 million in inflows, while Ethereum drew $88.5 million. Solana added $14.6 million. Smaller inflows went to Uniswap and Chainlink at $1.4 million each. XRP was the outlier, with $30.3 million in outflows. Short-Bitcoin…

The world’s second largest insurance broker is teaming up with the crypto exchange Coinbase and the Paypal USD (PYUSD) issuer Paxos to support stablecoin payments for insurance premiums. Aon plc says that it successfully demonstrated a proof of concept for insurance premium payment using dollar-backed stablecoins. The firm says it worked with Coinbase and Paxos to settle premium payments for their respective insurance programs. The transactions were executed across several blockchain networks including USDC on Ethereum and PYUSD on Solana.  Aon’s financial services group CEO Tim Fletcher says the insurance giant is the first mover in accepting stablecoins to settle…