Everything web3, crypto, defi, degen
In brief ChinaAMC’s Solana ETF will be Hong Kong’s first spot fund offering direct exposure to SOL, set to begin trading Oct. 27. The ETF will invest entirely in SOL and track the CME CF Solana-USD Index based on the APAC reference rate. Observers say the move shows Hong Kong’s confidence in expanding its regulated…
In brief U.S. Senator Cynthia Lummis (R-WY) has urged the Consumer Financial Protection Bureau to finalize its open banking rule, warning that banks have restricted access to industries they oppose, including digital assets. The rule, finalized on October 22, 2024, allows consumers to share financial data with third-party apps via APIs, critical infrastructure for connecting…
In brief Bitcoin is down 4% this month, defying its historical 19.84% average return for October. Analysts say on-chain data and failed rallies point to a continued correction phase. Sharp price swings reflect a market torn between institutional optimism and macro risks. Bitcoin’s recovery this week continues to lag, leaving most altcoin performances in the…
In brief Australian crypto traders are diversifying their portfolios beyond Bitcoin, anonymized Kraken wallet data reveals. Ethereum makes up 33% of Australian wallets, nearly double the global average of 19%, while Solana and meme coins appear more often in Australian portfolios. Kraken’s Jonathon Miller says Australia’s “speculative streak” reflects culture as much as strategy. Australians…
In brief Governments are balancing modernization against monetary control, testing how far private stablecoin infrastructure can integrate into national systems. The region is moving from policymaking to real-world rollouts, with Japan’s banks leading institutional pilots and Singapore setting a regulatory benchmark. Competing models are emerging: bank-issued domestic coins, open but regulated innovation hubs, and conservative…
In brief House of Doge, the Dogecoin Foundation’s commercial arm, acquired a controlling stake in U.S. Triestina Calcio 1918. The soccer club plays in Serie C, the third-highest league of Italian professional soccer. As part of the announcement, it added Toronto Blue Jays Vice Chairman Roger Rai to its advisory board to help with sports…
In brief AI models Grok, DeepSeek, and Claude are up big in a live, real-money crypto trading showdown. Google’s Gemini 2.5 Pro is the biggest loser of the bunch, underscoring reliability and transparency risks. The results deepen the divide between data-specialized and general-purpose AI approaches to finance. In early innings, Elon Musk’s Grok, DeepSeek, and…
In brief Weekly prediction market volume reached a new record above $2 billion, with Polymarket reclaiming the lead over Kalshi after eight weeks of trailing in trading volume. Sports betting drove the highest volume at $414.7 million last week, outpacing political markets at $322.6 million despite growing election-related activity heading into November. Major funding rounds…
In brief Evernorth is a new publicly traded digital asset treasury focused on accumulating the Ripple-linked asset, XRP. The firm’s treasury will be built with more than $1 billion in net proceeds, with contributions from Ripple and notable crypto firms. Ripple executives, including CEO Brad Garlinghouse, will act as strategic advisors to the firm. Ripple…
By Arjun Sethi, Kraken co-CEO The illusion of liquidity It happened in September 2019 when overnight repo rates spiked to 10%. It happened in March 2020 when Treasury markets seized and the world’s benchmark “risk free” asset had no bid. It happened again in March 2023 when regional banks failed and the Fed had to…
