Everything web3, crypto, defi, degen
In brief Sonnet BioTherapeutics is merging with Rorschach I LLC to create Hyperliquid Strategies Inc. HYPE rose nearly 7% as the broader crypto market traded lower. The merger signals institutional confidence and long-term demand for HYPE, Decrypt was told. Decentralized exchange Hyperliquid’s HYPE token is bucking the broader market trend, soaring while the rest of…
In brief T. Rowe Price has filed for a crypto ETF. If approved, the fund would hold mostly Bitcoin and Ethereum but other coins, too. The SEC is weighing more than 90 crypto fund proposals. Asset management giant T. Rowe Price on Wednesday applied for a mixed digital asset exchange-traded fund, according to a regulatory…
In brief Developer activity is rising again after a post-FTX slump, led by Ethereum, Solana, and zero-knowledge projects. Stablecoin transactions now top $9 trillion annually, showing steady real-world use. Andreessen Horowitz says U.S. regulation is “finally normalizing,” but warns volatility and fraud still threaten progress. The cryptocurrency industry is no longer a niche experiment, but…
In brief Over the past week, investors been pulling money out of Bitcoin and Ethereum ETFs. But on Tuesday, they reversed course, putting a combined $618.9 million into the funds. Experts told Decrypt that crypto markets path forward remains uncertain. Investors piled back into Bitcoin ETFs and their Ethereum counterparts Tuesday, reversing days of outflows,…
In brief The NHL has signed multi-year licensing deals with prediction market startups Kalshi and Polymarket. Weekly prediction market volume surpassed $2 billion for the first time, with sports betting driving $414.7 million in volume last week. Major funding rounds have propelled valuations, with Kalshi recently raising $300 million and Polymarket securing $2 billion. The…
In brief Meme stock traders have rallied behind Beyond Meat after noticing a stack of short sellers targeting the stock. Investors jumping on the trend are hoping to replicate the mania of GameStop’s 2021 short squeeze. So far, BYND has pumped by nearly 1,000% over the last five trading days. Meme stock traders believe that…
In brief Crypto exchanges are starting to delist the Kadena (KDA) token. The company behind the Kadena network said Tuesday that it’s closing down due to market conditions. KDA has plunged in price since the announcement, currently down 65% over the last day. Kadena’s KDA token is being removed from prominent crypto exchanges after the…
Throughout the quarter, Kraken accelerated that momentum – introducing new product categories, enhancing client experiences and expanding platform-wide capabilities to strengthen our full product suite. Our results demonstrate the scalability of our multi-product platform and the resilience of our model in a fast-changing market. By pairing innovation with discipline, we continue to lay the foundation…
In brief DraftKings acquired prediction market company Railbird to launch its DraftKings Predictions app. The deal comes as prediction market volume surpassed $2 billion weekly for the first time. A source familiar with the company told Decrypt the app will initially focus on states without legal sports betting. DraftKings has acquired prediction market company Railbird…
In brief FalconX has agreed to acquire 21Shares, one of the largest crypto exchange-traded product providers, though terms of the deal remain undisclosed. The companies said the deal will combine their infrastructure and product capabilities across the U.S., Europe, and Asia. 21Shares will remain independently managed under FalconX, with CEO Russell Barlow continuing in his…
