A looming private credit crisis risked triggering liquidity crunches that could initially suppress Bitcoin prices, but Fed interventions may ignite a major BTC rally. There is a growing risk that a looming crisis in the private credit market, fueled by rising redemptions and defaults, could spill over into Bitcoin (BTC) and crypto markets, according to analysts. Key takeaways: The $2 trillion private credit sector faces a crisis from defaults, redemptions, and limited oversight. Read more
The funding will support development of a programmable execution layer designed to enable faster issuance and settlement of digital assets on the network. Tether’s investment arm has invested in Ark Labs, the developer of the programmable Bitcoin infrastructure Arkade, as part of a $5.2 million funding round to expand stablecoin capabilities on the Bitcoin network. According to Thursday’s announcement from Ark Labs, the investment is intended to support infrastructure that enables stablecoins such as USDT (USDT) to be issued, transferred and settled more efficiently on Bitcoin (BTC). The Lugano, Switzerland-based startup is developing an execution layer designed to support instant and programmable transactions on Bitcoin. The funding round brings the company’s total funding to $7.7 million. Read more
“This ends today,“ said CFTC Chair Michael Selig, who has been reiterating his position that the agency has exclusive jurisdiction overseeing prediction markets platforms. Update (March 12 at 8:56 pm UTC): This article has been updated to include comments from CME Group Chief Executive Terry Duffy. Michael Selig, chair of the US Commodity Futures Trading Commission (CFTC), has proposed a rule that could amend or issue new regulations over event contracts on prediction markets platforms like Kalshi and Polymarket. In a Thursday notice, the CFTC issued a staff advisory classifying event contracts on prediction markets as a “financial asset class.” The regulator also submitted an Advanced Notice of Proposed Rulemaking to be published in the Federal Register, asking for public comment on how the Commodity Exchange Act (CEA) would apply to prediction markets. Read more