Investors back a model that moves insurance risk and capital flows onto blockchain rails, as onchain reinsurance looks to attract institutional participation. Forward Industries and crypto investment company RockawayX have co-led a strategic investment in OnRe, a startup building reinsurance infrastructure on the Solana blockchain, in a move aimed at bringing traditional risk-transfer markets onto decentralized rails. The companies said Tuesday they co-led OnRe’s $5 million Series A round, with Forward planning to allocate up to $25 million into the platform’s yield-bearing token on Solana. The funding will be used to expand OnRe’s platform and attract more institutional participants to onchain reinsurance, a niche but emerging segment within decentralized finance. Read more
Brad Garlinghouse addressed attendees at a Tuesday crypto conference on the progress of the CLARITY Act after US lawmakers announced a compromise on stablecoin yield that could advance the legislation. Brad Garlinghouse, CEO of Ripple Labs, warned Tuesday that recent progress on the digital asset market structure bill in the US Senate did not guarantee success for the legislation, speculating that the next two weeks would be crucial. Speaking at the Consensus crypto conference in Miami, Garlinghouse said that the likelihood of the market structure bill, the CLARITY Act, passing would “drop precipitously” if not addressed in the next two weeks. According to the Ripple CEO, the bill would be “too much of a loaded issue” amid campaigns for the 2026 US midterms, with primaries ongoing until the November elections. “Do I think it's perfect? Hell no,“ said Garlinghouse, referring to CLARITY. “I challenge you to show me any piece of legislation that we would call perfect. There's tradeoffs and compromises, but I do ...
Prophet, an AI-native prediction market platform, has launched its first live trading tranche, introducing a system where an AI model acts as the counterparty to user trades using real capital. Cape Town, South Africa, May 5, 2026 — Prophet, an AI-native prediction market platform, has launched its first live trading tranche, introducing a system where an AI model acts as the counterparty to user trades using real capital. The initial deployment allocates $10,000 in USDC to an AI-powered trading system and opens participation to users on the platform. Instead of matching buyers and sellers, the system allows users to trade directly against the AI, which generates probability-based pricing for each market. Prophet’s “Tranche 1” is a limited-access deployment designed to test the system under live market conditions. Users who deposit gain the ability to create markets, with the AI pricing each market upon creation. Once live, markets can be traded by other participants. Read more