CFTC Chair Michael Selig signaled that the agency would defer to the football league in calling for changes to event contracts that could be manipulated by a single person. The National Football League (NFL) has reportedly sent letters to Kalshi, Polymarket and other prediction market platforms in an effort to block the companies from offering trades on football events that can be easily manipulated or determined in advance. According to a Monday ESPN report, the letters to the prediction market companies said that the NFL objected to certain types of event contracts offered on the platforms, including those that could be easily manipulated by a single person — such as an announcer’s words, player signings, coach firings and bets related to injuries on the field. League executive vice president Jeff Miller reportedly said the letter followed talks with the US Commodity Futures Trading Commission (CFTC). “When a league raises manipulation concerns about a contract proposed to be listed on a prediction market...
A $53 million Bitcoin short position from a trader on Hyperliquid DEX could be a sign that pro traders expect BTC downside this week. Key takeaways: A Hyperliquid whale’s $53 million Bitcoin short and its bets against silver suggest a cautious outlook for global markets. Traders remain on edge as the US and Israel-Iran war and upcoming US jobs data drive risk-averse behavior this week. Read more
Rolling out over the coming month, a Block executive said Bitcoin payments at point-of-sale will be automatically enabled and settled in US dollars by default. Square, the payments platform of Block, has begun rolling out Bitcoin payments at its point-of-sale terminals for eligible US sellers, with the automatic feature going live today as part of a phased rollout over the coming month. The announcement was shared Monday in a post on X by Miles Suter, Bitcoin product lead at Block, and reposted by CEO and longtime Bitcoiner Jack Dorsey. Suter said the feature is designed to make it easier for “millions of businesses” to accept Bitcoin, adding that eligible US sellers will have payments automatically enabled and will receive US dollars by default when customers pay in Bitcoin (BTC). Merchants will also have the option to automatically “stack” Bitcoin from daily sales. Read more
JPMorgan’s Kinexys network is gaining traction among corporations as blockchain-based payment rails scale toward $10 billion in daily transaction volume. Mitsubishi Corporation plans to use a blockchain-based payment system developed by JPMorgan Chase to move funds across its global operations, signaling continued adoption of blockchain infrastructure within traditional finance. The system is part of JPMorgan’s blockchain network, known as Kinexys, which enables near-instant fund transfers, reduces reliance on traditional banking and operates around the clock, according to a report by Nikkei. JPMorgan is seeking to scale the platform to $10 billion in daily transactions from the current average of $7 billion. Kinexys has processed more than $3 trillion in cumulative volume since launching in 2020, highlighting growing institutional demand for blockchain-based settlement systems. Read more
Ahead of the November midterm elections, backers are lining up behind a new hybrid political action committee that allows contributions directly to candidates. Update (March 30 at 9:25 pm UTC): This article has been updated to include a response from Anchorage Digital in the third paragraph. Seven months ahead of the November midterm elections, Chainlink Labs and Anchorage Digital announced that they were the founding contributors to a political action committee (PAC) “to support candidates working to advance digital asset and blockchain policy in the United States.” In a Monday announcement, the two crypto companies said they were supporting the Blockchain Leadership Fund, a hybrid PAC that allows contributions directly to candidates as well as independent expenditures, such as media buys. Read more
Onchain data shows inflows to accumulation addresses topping 67,000 BTC, while total outflows from Bitcoin miners fell to levels not seen since 2024. Bitcoin (BTC) demand from long-term holders increased by 48.5% over the past seven days. This rise in accumulation coincided with a sharp decline in Bitcoin miners’ selling activity, as the Miners’ Position Index (MPI) dropped to levels last seen in 2024. The development highlights a phase where long-term participants are steadily absorbing Bitcoin, while selling from the miners continues to decrease. CryptoQuant data shows that the demand from accumulator addresses lifted holdings to roughly 205,000 BTC on March 30 from 138,000 BTC on March 23. The increase follows a drawdown from a March peak near 210,000 BTC, marking a renewed phase of demand from long-term participants. Read more
In a Cointelegraph interview, Ran Neuner ponders Bitcoin’s identity crisis, market risks and the growing impact of macro trends. In this Cointelegraph interview, Ran Neuner, a longtime voice in the crypto space, openly questions Bitcoin’s core narrative— as he admits he struggles to answer one simple question: why should people buy it? “I don’t know how to answer that question. That’s the problem.” Once pitched as peer-to-peer money and later reframed as digital gold, Bitcoin’s identity has become harder to define in practice, he argues, especially after failing to move in tandem with traditional store-of-value assets like gold in the last cycle. Read more