The enforcement action over wagers on sports event contracts followed Coinbase announcing the launch of prediction markets in all 50 US states. The Nevada Gaming Control Board announced that it had filed a civil enforcement action against Coinbase over wagers on sports event contracts. In Monday filings in the First Judicial District Court of the State of Nevada in and for Carson City, the Nevada Gaming Control Board sued Coinbase Financial Markets over allegations the company offered unlicensed wagers on sporting events. Authorities followed by requesting that the court grant a temporary restraining order and preliminary injunction preventing Coinbase from “operating a derivatives exchange and prediction market” related to sporting bets. “The Board takes seriously its obligation to operate a thriving gaming industry and to protect Nevada citizens,” said Mike Dreitzer, chair of the Nevada Gaming Control Board, in a Tuesday statement. “The action taken yesterday reinforces this obligation.” Read more
Bitcoin’s volatility spiked, and its price plummeted to fresh lows as worrying US economic conditions emerged. Will credit stress data signal the next accumulation phase for BTC? Bitcoin (BTC) scratched new lows below $73,000 on Tuesday as data shows troubling macroeconomic challenges bubbling below increasingly volatile markets. New data highlights tightening credit conditions, even as the US debt and borrowing costs stay elevated, and one analyst says this gap between credit pricing and credit market stress may define Bitcoin’s price trajectory for the upcoming months. Key takeaways: The ICE BofA US Corporate Option-Adjusted Spread is at 0.75, its lowest level since 1998. Read more
The Nasdaq-listed insurance brokerage said an unnamed investor would contribute BTC as part of a deal that also includes an AI- and crypto-focused strategic partnership. Tian Ruixiang Holdings Ltd (Nasdaq: TIRX) said it has entered a strategic agreement under which an unnamed investor would contribute 15,000 Bitcoin in exchange for an equity stake in the company. At Bitcoin’s (BTC) price of about $75,000 at the time of writing, the proposed contribution would be valued at about $1.1 billion. Tian Ruixiang said the agreement also includes a strategic partnership focused on artificial intelligence and crypto initiatives, including the creation of a joint innovation lab to develop AI-powered trading and risk management tools, blockchain infrastructure, decentralized applications and products spanning layer-2 networks, DeFi and nonfungible tokens. Read more
The US House of Representatives approved a bill on Tuesday that will fund most of the government through the end of September. Lawmakers in the US House of Representatives have approved a bill that will mostly reopen the government after a four-day partial shutdown. In a Tuesday House vote of 217 to 214 in favor of the bill, the chamber approved a roughly $1.2 trillion package already passed by the Senate that will fund most of the US government through Sept. 30. The measure passed with some support from Democrats, many of whom were opposed to provisions in the bill over immigration enforcement policies. US President Donald Trump is expected to sign the legislation and reopen the government, provided there are “no changes” to the Senate bill. The legislation provides the Department of Homeland Security with funding for only two weeks before lawmakers return to negotiate changes related to Immigration and Customs Enforcement (ICE) and the Border Patrol. Read more
Bitcoin fell under $73,000 as futures liquidations soared and worries over this week’s US corporate earnings triggered a stock sell-off. Will traders finally step in to buy “discounted” BTC? Bitcoin (BTC) tumbled to a new 2026 low of $72,945 on Tuesday as bulls failed to hold the $80,000 level as support. Year-to-date, Bitcoin trades at a 15% loss and remains nearly 45% down from its $126,267 all-time high, raising investor concerns that BTC’s cyclical bull market may have reached an end. Rocky price action in US stock markets is an alleged driver of the selling across the crypto market. Since the end of Q4 2025, investors questioned whether the costs associated with the artificial intelligence infrastructure build-out and the lofty fundraising and valuations were sustainable. Investors fear that product demand and revenue may fall short of industry projections, and this souring sentiment is visible across the Magnificent 7 stocks, along with the S&P 500, DOW and NASDAQ, which are currently trading down 0.7...