The expansion gives institutional and automated traders real-time access to Kalshi’s political markets as election betting activity continues to grow. DoubleZero, a network for high-speed data distribution, has added real-time data from Kalshi’s election and politics markets as prediction market trading picks up ahead of the US midterm elections in November. The expansion adds Kalshi’s election contracts to DoubleZero Edge, which already carries data from the prediction market’s sports contracts and crypto perpetual futures, according to a Wednesday announcement. The feed includes top-of-book and trade data, along with aggregated order book data from Kalshi’s election markets. Andy Ross, head of institutional at Kalshi, said the integration is intended to make political market data easier to incorporate into institutional workflows as expectations shift around election outcomes. Read more
The restructuring will separate MetaMask’s consumer business from Consensys’ Ethereum protocols and institutional blockchain infrastructure operations. Consensys Software Inc., the Ethereum software company behind MetaMask, plans to split into two independent companies, separating its consumer business from its institutional blockchain infrastructure operations. According to Wednesday’s announcement, the separation is expected to be completed by the end of 2026, with Joe Lubin serving as chairman and CEO of MetaMask and executive chairman of the new Consensys. The new Consensys will house the company’s protocols and institutional infrastructure businesses, including Linea, Besu and Teku, and will be led by CEO Mike Kriak and President David Cunningham. The company will focus on Ethereum infrastructure and helping financial institutions deploy blockchain technology for tokenization, stablecoins and other onchain financial services. Read more
The blockchain intelligence firm said its annual recurring revenue has quadrupled over the past three years as it expands its AI-powered investigations business. Blockchain intelligence firm TRM Labs has doubled its valuation to $2 billion following an expansion of its Series C funding round led by Blockchain Capital. The company did not disclose the size of the latest investment but said its annual recurring revenue has quadrupled over the past three years, according to an announcement Wednesday. The expansion follows a $70 million Series C in February, also led by Blockchain Capital. TRM provides blockchain intelligence and investigation software used by more than 600 government agencies and private-sector institutions across 75 countries, the company said. Prior to the February round, the company was valued at $930 million, according to data compiled by Traxcn. It breached the $1 billion valuation mark in the round that included Citi Ventures and Galaxy among the investors. Read more
The pilot moved USBDC between the bank’s North American and European entities on the public Stellar blockchain. U.S. Bank, the fifth-largest commercial bank in the United States, has completed a live cross-border payment using its proprietary USBDC stablecoin on the Stellar blockchain. The pilot moved funds between U.S. Bank entities in North America and Europe, with USBDC issued and transferred on the public Stellar network. It also tested the stablecoin’s minting, redemption, freezing and clawback functions while integrating with the bank’s existing risk, compliance and operations systems. The transaction validated U.S. Bank’s internally developed Digital Asset Platform, which connects tokenized assets with its traditional banking infrastructure, the bank said Wednesday. The Minneapolis, Minnesota-based bank is exploring additional uses including cross-border treasury operations, liquidity management and moving collateral onchain. Read more
Bitcoin trended lower with US stocks on Iran escalation while US Treasury Secretary Scott Bessent contributed to fears of a yen carry-trade unwind. Bitcoin (BTC) struggled below $80,000 on Wednesday as attention refocused on the Japanese yen. Key points: Read more