Author: Coindesk
The “GCorttell93” account purchased over 4.5 million Trump contracts in the “Presidential Election Winner 2024” market spending over $3 million in a short period. However, due to how the orderbook works, a tranche of $275,000 was filled at 99% odds – a leap from the actual 63% offered odds at the time. Read the full article here
“Over the last 10 years, no one has managed to build a high-performance blockchain. I think the incentives in the space have really skewed people towards short term wins, pumping tokens [and] not actually solving real problems,” he said, adding that average transaction volumes on some chains are in the single digits. Read the full article here
Both Portofino’s chief operating officer and co-founder, Alex Casimo, and chief financial officer, Jae Park, were fired in July. This then triggered the resignations of Vincent Prieur, the head of strategy and operations, and Shane O’Callaghan, the global head of business development, as well as a significant number of the firm’s staff. Read the full article here
The National Center for Public Policy Research, a conservative think tank, has notified shareholders of Microsoft that it intends to propose a Bitcoin Diversification Assessment at the company’s annual meeting on Dec. 10, a filing shows. Read the full article here
The notion, cited by some, of a sentient memecoin might be less about believing the coin itself is sentient and more about participating in a collective narrative or experiment to see how far the idea can go, how it affects market behavior, or how it explores the concept of value in cryptocurrencies. Read the full article here
Stablecoins are one of the most popular innovations in crypto, bridging government-issued fiat currencies on traditional financial rails with blockchain-based digital assets, facilitating trading and transactions. Taken together, all stablecoins have a market capitalization of about $170 billion. Because of their non-volatile nature combined with blockchain’s speed and near-instant settlements, they are increasingly used for everyday economic activities such as payments and remittances, especially in developing countries with less robust banking systems and rapidly devaluing local currencies like Argentina and Nigeria. Read the full article here
Bitcoin at press time was changing hands at $68,100, ahead 2.9% over the past 24 hours. Ether (ETH) continued to underperform bitcoin and the broader market, gaining just 1.1% and touching a new 3.5 year low relative to the price of BTC. Solana (SOL) continued to outperform, rising 3.0% and marking a new record high relative to ether. Read the full article here
“If the trading amounts to any one of these species of election or market manipulation, then it is also likely to artificially skew the pricing of contracts in a way that is divorced from election ‘fundamentals,’ thus creating volatility that will undoubtedly harm many smaller retail investors who have placed their own bets,” Better Markets said, urging the U.S. Court of Appeals to overturn a lower court’s decision that freed Kalshi to offer election markets. Read the full article here
Fueled most recently by major inflows into the funds as bitcoin (BTC) rallies into the election, the ETFs, which only opened for business on Jan. 11 of this year, currently hold roughly 967,459 tokens. With just a modest continuation of inflows, they are likely to cross the one million mark in the next couple of weeks, bringing them into the territory of Satoshi Nakamoto, who owns 1.1 million tokens, per Blockchain.com data. Read the full article here
Applied to information silos in Web3, we could conceive a tool that pulls together information from various blockchains, dApps, and exchanges into a single interface. And, taking that interface one step further, why not prompt such an AI aggregator to use this data to provide actionable insights to users? Read the full article here