Bernstein says platforms are bringing exchange, clearing and brokerage infrastructure in-house, setting up potential deals while increasing antitrust and regulatory risks. Prediction-market operators are bringing trading infrastructure in-house, a rapid shift that could trigger a wave of acquisitions across crypto platforms, sportsbooks, brokerages and standalone exchanges, according to analysts at Bernstein. In a research report on Monday, Bernstein said the industry is going through “operational consolidation,” with major platforms moving to control more of the prediction-market stack. “Every consumer platform that matters has merged the front and back end of the prediction-market stack,” they said. This includes distribution, brokerage, exchange and clearing. That convergence had placed businesses that historically operated in separate industries within a single competitive landscape. Read more
Vitalik Buterin said indistinguishability obfuscation could eventually support private, collusion-resistant onchain voting without trusted committees, though the technology remains impractical. Ethereum co-founder Vitalik Buterin published a technical essay outlining how cryptography could one day enable people to vote privately onchain without relying on a trusted group to manage ballots or reveal the result. In a blog post on Monday, Buterin said a cryptographic approach called indistinguishability obfuscation (iO), combined with blockchain infrastructure, could support private and collusion-resistant voting with “almost no trust assumption.” The approach would replace threshold committees, which jointly decrypt voting data, with protected programs designed only to reveal the outcome. Private onchain voting remains dependent on groups of operators safeguarding information and behaving honestly. Removing that dependency could make decentralized governance harder to manipulate, reduce the risk of insider in...
MiCA crypto licensing data shows 244 approved companies across EU and EEA jurisdictions, led by Germany with France and the Netherlands also among top hubs ahead of July 1 cliff. Update 2:00 pm UTC, June 29: Added comment from Germany’s Federal Financial Supervisory Authority (BaFin). The European Union’s Markets in Crypto-Assets Regulation (MiCA) framework is producing uneven crypto licensing across member states and European Economic Area (EEA) jurisdictions, with Germany leading approvals under the new regime that takes effect on Wednesday. Data from the European Securities and Markets Authority (ESMA) interim register, compiled on Friday, shows Germany has 57 MiCA-authorized crypto-asset service providers (CASPs), accounting for about 23% of the 244 total licenses issued. Read more