Some traders are looking for more predictable prediction market opportunities, rather than playing “hot potato” with the next 100x gem, according to Polymarket’s Shayne Coplan. Cryptocurrency trading is becoming a game of “irrational exuberance” as traders race to be among the earliest investors to find the next 100x token, according to Shayne Coplan, the CEO of prediction market platform Polymarket. “People think they’re buying something, it’s worthless, but they’re buying it. If it can go to 100X, they want to sell it before it goes back to zero,” said Coplan during a fireside chat at Token2049 Singapore on Wednesday. Coplan said that some traders can generate significant wealth through this strategy, but added that it is a “game of irrational exuberance and hot potato” where asset pric…
Crypto card demand can be stronger where access is harder, Tangem says, as the company expands its self-custodial payment offering through Visa. More than 40% of Tangem Pay payments come from Latin America and over 30% from the US, while physical card availability remains restricted in some markets, the Swiss crypto wallet provider told Cointelegraph. “It is not simply a question of where people want crypto cards,” Andrey Ilinskiy, head of Tangem Pay, told Cointelegraph, adding: “It is where demand, regulation, banking infrastructure and card-issuing requirements happen to line up — and today, those maps do not always overlap.” On Wednesday, Tangem announced its first physical Visa card for in-store and online purchases and ATM withdrawals, with an initial release limited to 5,000 cards.
World Liberty Financial outlined plans to bring USD1 to major online platforms as Mesh announced a payments partnership scheduled to roll out this quarter. World Liberty Financial (WLFI) executives unveiled plans to bring USD1 stablecoin payments to major online businesses during a panel discussion at Token2049 in Singapore on Wednesday. WLFI CEO Zach Witkoff and co-founder Zak Folkman took part in a stablecoin-focused panel discussion at the industry conference alongside Mesh co-founder and CEO Bam Azizi. Azizi unveiled a partnership with WLFI that would enable USD1 holders to spend the stablecoin across the payment infrastructure provider’s merchant network. The rollout is planned for this quarter.
Early Wall Street wealth-creation opportunities remain inaccessible to retail participants, but Hyperliquid’s perpetual contracts aim to democratize access, according to its CEO. Wall Street’s traditional wealth-creation opportunities, such as company stocks, remain largely inaccessible to the investing public until they list on exchanges, meaning that retail participants miss the most significant pre-listing gains, according to Hyperliquid co-founder and CEO Jeff Yan. “Some assets are only tradable by a few people for many orders of magnitude of its growth, and then ultimately tradable by the public only after all of the growth has been realized by a select few people with privilege,” said Yan during a Tuesday fireside chat at Token2049 Singapore. While he saw this dynamic as a byproduct…
BingX strategy chief Kevin Lee says wealthy investors are taking a longer-term approach to Bitcoin, though family-office crypto exposure remains limited. BingX chief strategy officer Kevin Lee says wealthy “old money” investors are taking a longer-term approach to Bitcoin (BTC) than many crypto-native traders. In a Token2049 fireside chat with Cointelegraph head of multimedia Ciaran Lyons, Lee said he deals with “a lot of old money” seeking alternative investments. “They have stronger diamond hands than any of us,” Lee said.
Bitcoin fell 2.3% in two hours amid suspicion over the appearance of leveraged BTC short positions on Hyperliquid. Bitcoin (BTC) dipped below $84,000 on Wednesday as flash downside liquidated over $500 million in crypto long positions. Key points:
Bitcoin ETFs returned to net inflows with $119 million on Tuesday despite falling prices, while Ether funds reached a six-session outflow streak totaling $408 million. US spot Bitcoin exchange-traded funds (ETFs) returned to net inflows on Tuesday as Ether ETFs extended their outflow streak to six trading sessions. Bitcoin ETFs recorded $119 million in net inflows on Tuesday, reversing Monday’s $90 million loss, according to SoSoValue data. Bitcoin fell from above $86,600 on Tuesday to below $84,000. At publishing time, BTC traded at $83,971, down 2.1% over the past 24 hours, according to CoinGecko.
Tom Lee said BitMine will not accumulate Ether past 5% of the supply, turning the company’s target into a ceiling. BitMine Immersion Technologies will cap its Ether holdings at 5% of the cryptocurrency’s supply, according to Chairman Tom Lee. Speaking during a keynote at Token2049 in Singapore on Wednesday, Lee said BitMine is nearing the threshold after accumulating roughly 6 million Ether, equivalent to about 4.9% of the supply. He said the company needs about 100,000 ETH more to reach its target. “That’s a hard cap. We’re not gonna be accumulating past 5%,” Lee said. “We’re not gonna own more than 5% of Ethereum.”
Russia registered its first crypto exchanges and custodians, including its largest bank, Sberbank, which plans to launch crypto products on Dec. 1. Russia has registered its first cryptocurrency exchange operators and digital custodians under new crypto regulations that took effect on Sept. 1. The Bank of Russia on Tuesday published its first registers of authorized crypto operators, listing four exchange operators and five custodians. Russia’s largest bank, Sberbank, was added to the custodian list, alongside Atomyze, Voltari and Cloud Infrastructure. T-Invest Lab, Zefir and Sistema-Crypto are on the crypto exchange operator list. VTB Bank appears on both lists.
Prosecutors say a recent Bitcoin Fog appeals court ruling supports their argument that Tornado Cash activity in Manhattan was enough to establish venue for parts of Roman Storm’s case in New York. Federal prosecutors cited a recent appeals court ruling involving cryptocurrency mixer Bitcoin Fog as supplemental authority for their opposition to Tornado Cash developer Roman Storm’s acquittal. In a Monday filing, prosecutors cited a Sept. 25 appeals court ruling that affirmed the convictions and sentence of Bitcoin Fog operator Roman Sterlingov. The D.C. Circuit held that venue in Washington, D.C., was proper for all four counts. For the money-laundering counts, it relied on evidence that an undercover agent conducted Bitcoin Fog transactions from his D.C. office. For the unlicensed money-tra…
Gold recorded 542 million contracts and an estimated $5 million in fees in September, surpassing Ether’s 318 million contracts and $2.6 million, though Bitcoin remained far ahead. Kalshi’s 15-minute gold markets generated nearly twice the estimated trading fees of equivalent Ether markets in September, just weeks after their August launch. The gold contracts, which let traders take positions on whether gold will rise or fall over 15-minute intervals, generated about $5 million in estimated fees during the month, compared with $2.6 million for Ether contracts, according to Predict Charts. Bitcoin remained the dominant market, generating $60.4 million in estimated fees. The growth in short-duration gold markets comes as Kalshi’s broader commodities business has been expanding. The company s…
Trading on the platform has largely been suspended since June as its operator awaited MiCA authorization, with the company now looking to regulated partners to restart services. Bitcoin Group SE says it is seeking an alternative operating model for its bitcoin.de platform after the German Federal Financial Supervisory Authority (BaFin) refused its subsidiary futurum bank AG’s application for authorization as a crypto-asset service provider under the Markets in Crypto-Assets Regulation (MiCA). In an Oct. 6 announcement, the company said the BaFin decision was a setback, but it had prepared for the possibility of a refusal. It said it is now reviewing the decision and has the opportunity to lodge an objection or submit a new application in the future. The group said it is also working on way…
Igloo CEO Luca Netz said the company funded Abstract for 18 months but still failed to find product-market fit despite attracting major brands and a community of millions. Abstract, a consumer-focused Ethereum layer-2 blockchain built by Pudgy Penguins’ parent company Igloo Inc., said Tuesday it will shut down this year after struggling to scale and find product-market fit. In an X post, Abstract said its focus on “consumer crypto” ultimately proved to be an unsustainable business model. Abstract launched its mainnet in January 2025 with the aim of driving consumer crypto adoption by targeting mainstream entertainment. For users, it aimed to strip away many of the complexities that traditional blockchains require. “Unknown to most, Igloo, Inc. had been funding Abstract over the last 18 mon…
The lawsuit alleged that Tether froze USDt funds in a Conduit wallet tied to an investigation launched by Brazilian authorities in 2024. Cross-border payments platform Conduit Technology alleged that stablecoin issuer Tether froze $2.76 million in USDt (USDT) without explanation in September 2025. In a complaint filed in the US District Court for the Southern District of New York on Monday, Conduit said that Tether froze funds belonging to the company to which it had “no legal entitlement” and “no claim.” The company said it began holding USDt as part of its digital treasury wallet in May 2025, alleging that Tether froze all $2.76 million of the stablecoin in September with “no justification” — an action Conduit claimed “materially impacted its business.” “The funds are unequivocally Condu…
The proposed fund would hold ZEC directly, with Gemini Trust serving as custodian and Winklevoss Capital affiliates eyeing up to a $100 million investment. A Winklevoss-backed exchange-traded fund (ETF) seeking to track Zcash’s price has filed a registration statement with the US Securities and Exchange Commission (SEC). The proposed Winklevoss Zcash ETF would hold ZEC directly and seek to list on the Nasdaq Stock Market under the ticker WINK, according to the filing. Winklevoss Asset Services would sponsor the fund, while its affiliate Gemini Trust Company would custody the ETF’s ZEC holdings. The fund would charge an annual sponsor fee of 0.25% and would not use leverage or derivatives to achieve its investment objective.
The DIGIT pilot will test distributed ledger technology and onchain settlement for UK sovereign debt, with issuance expected by the first quarter of 2027. The UK government has appointed six major banks to lead the issuance of its first digitally native government bond, with the pilot expected by the first quarter of 2027. Barclays, HSBC, Lloyds, Morgan Stanley, NatWest and RBC Capital Markets were named joint lead managers for the Digital Gilt Instrument (DIGIT) following a competitive procurement process. Economic Secretary to the Treasury Lucy Rigby announced the appointments Tuesday during a keynote at UK Digital Assets Week. The banks will provide underwriting, investor engagement and distribution services for the pilot issuance.
The digital ruble’s early uptake comes as BRICS nations explore linking their digital currencies for cross-border trade and payments. Early adoption of Russia’s central bank digital currency, the digital ruble, has vastly exceeded forecasts, with more than 220,000 accounts opened in its first month, offering an early test of whether CBDCs can move beyond pilot programs and gain real-world adoption. As Reuters reported Tuesday, Russian central bank Deputy Governor Zulfiya Kakhrumanova said the figure far exceeded the roughly 60,000 accounts officials had expected following the CBDC’s Sept. 1 launch. The rollout comes as BRICS, the bloc of major emerging economies that includes Russia, China and India, explores ways to link members’ CBDCs for cross-border payments. As Reuters reported, Russi…
The No Betting on Your Own Race Act will not be addressed before the 2026 US midterms as Congress is on recess until after the election. A North Carolina lawmaker has introduced legislation aimed at blocking politicians from using prediction market platforms to potentially profit on their own elections. On Monday, Representative Don Davis introduced the No Betting on Your Own Race Act, prohibiting federal candidates, their campaigns, their spouses and children from “buying, selling, acquiring, disposing of, or holding contracts” related to their elections. Davis said that the legislation was designed to prevent market interference, insider trading and lawmakers from “cashing in” on elections, with a proposed $10,000 civil penalty for each violation or three times any potential financial wi…
Most affluent investors across seven countries own and are increasing their crypto holdings despite financial advisers who remain overly cautious about digital assets. A majority of affluent investors across seven of the biggest economies hold digital assets, with crypto accounting for around 10% of their portfolios on average, according to a new CoinShares survey. The survey covered 2,230 investors with at least $500,000 in investable assets across the US, UK, France, Germany, Italy, Sweden and Switzerland. Digital asset ownership ranged from 54% in Sweden to about 70% in the US, UK, Germany and Switzerland. At least 85% of current digital asset investors in five of the seven countries said they planned to increase their exposure in 2026, with as much as 91% in the US, UK and Germany.
Bitcoin price action was kept in check by overhead ask liquidity while US stocks broke out to new all-time highs. Bitcoin (BTC) continued to circle $86,000 on Tuesday as US stock markets hit fresh all-time highs. Key points:
