Singapore is considering allowing jointly issued cross-border stablecoins into its regulatory regime, revisiting its earlier decision to restrict the framework to domestic issuance. The Monetary Authority of Singapore (MAS) is reconsidering its earlier restriction on stablecoins issued across multiple jurisdictions, proposing a route for some jointly issued tokens to qualify under its regulatory framework. MAS opened a public consultation on Tuesday, covering legislative amendments to implement its stablecoin framework and additional policy proposals reflecting developments since 2023. Under one proposal, stablecoins jointly issued by a Singapore issuer and a foreign issuer could be regulated under the framework and labeled “MAS-regulated stablecoins,” provided that the associated risks are sufficiently mitigated. Read more
Donald Trump Jr.-linked 1789 Capital will reportedly lead a $1 billion investment round into Polymarket, which would value the platform at $21 billion, just below Kalshi’s $22 billion valuation. Donald Trump Jr.-linked investment firm 1789 Capital is reportedly investing about $300 million in Polymarket, a blockchain-based prediction market. 1789 Capital, where Donald Trump Jr. is a partner, will make the $300 million investment as part of a $1 billion round that would value Polymarket at $21 billion, people familiar with the matter told the Wall Street Journal on Monday. The investment would bring 1789 Capital’s total investment in Polymarket to about $500 million and make it one of the platform’s largest backers. Read more
Ether ETFs extended their inflow streak to 11 trading sessions, while XRP and Solana funds each logged a 10th consecutive positive session. US-listed spot Bitcoin exchange-traded funds (ETFs) returned to inflows on Monday, led almost entirely by BlackRock, while Ether, XRP and Solana funds continued attracting capital. SoSoValue data showed that Bitcoin ETFs recorded $216.7 million in net inflows on Monday, reversing the $201.8 million in withdrawals recorded on Friday. The Friday outflows ended a nine-session run that brought more than $3 billion into the funds. Bitcoin (BTC) was trading near $78,700 at the time of writing, up about 1.5% over the past 24 hours, according to CoinGecko. Read more