Wall Street research firm Bernstein said the move — which Robinhood made in conjunction with market-making giant SIG — raises the stakes for competitors like Polymarket and Kalshi.
The stablecoin infrastructure hopeful is trading nearly 90% below its early peak, with thin usage, supply pressure and sparse communication fueling uncertainty about whether the sell-off has truly run its course.
Crypto markets held steady Wednesday, remaining in “extreme fear,” with bitcoin unchanged, altcoins muted and Korean traders driving a rare standout rally in newly listed token MON.
The effort is starting small, but Texas made an opening foray into a state-based crypto reserve — getting closer to the first government stockpile in the U.S.