The Daily Market Update: Bitcoin Slides Towards $65K Amid Bearish Trends, Binance Responds to Insolvency Claims, and Other Key Developments
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Schwab CEO Advocates for Prediction Markets as a Tool for Investors While Criticizing Sports Betting as Misaligned with Company Values
Sports contracts continue to dominate predictions market trading volumes, as state and federal regulators clash over their treatment.
New Era for South Korea's Crypto Markets: The Impact of AI Surveillance
Recent volatility reviews, new surveillance systems and a landmark court ruling show how South Korea is enforcing stricter oversight of crypto markets.
Trump-Associated WLFI Under Investigation for $500 Million Cryptocurrency Deal with UAE
House Democrats probe $500 million UAE investment in Trump-linked WLFI, highlighting questions over dealings with the country's national security adviser.
Three Key Indicators Suggest Bitcoin Price May Be Approaching Full Capitulation
Panic selling by short-term holders, extreme fear, and oversold RSI suggested that BTC could be nearing the final phase of capitulation.
Tokenization Companies Alert That EU DLT Pilot Restrictions May Drive Markets to the US
The firms warned that current scope limits, volume caps, and time-limited licenses are constraining live products as the U.S. moves ahead.
Tether Strengthens Partnership with Anchorage Digital by Investing $100 Million at a $4.2 Billion Valuation
The firms said the deal reflects shared priorities around security, compliance, and scaling institutional-grade services for stablecoins.
JPMorgan Predicts Bitcoin May Soar to $266,000 in the Long Run, Outshining Gold as a Preferred Investment
That target is “unrealistic” this year, but possible “over the long term” once negative sentiment reverses, according to the analysts.
Polymarket and Circle Collaborate to Transition to Native USDC Settlement System
Polymarket will migrate from bridged USDC on Polygon to Circle-issued native USDC, reducing reliance on cross-chain bridges as prediction markets expand.
Ether Falls Below $2000 Amidst Significant Challenges to ETH Holder Confidence
Ether is testing holder conviction with its price dip, with data showing continued selling by smaller holders and steady accumulation by larger investors.
Aster Layer-1 Blockchain Testnet Launches, Mainnet Set to Roll Out in Q1
Aster rebranded to become a crypto perpetual futures decentralized exchange in 2025, as perp DEX trading volume surged by trillions of dollars.
Gemini Shifts Focus to US Market: Cuts 25% of Workforce and Leaves UK, EU, and Australia Markets Behind
Gemini links its latest layoffs to a push for a leaner, more automated operating model, saying increased use of AI lets it run faster with fewer staff.