Author: John Smith

Meta chief executive Mark Zuckerberg has directed employees to develop a prediction markets app called Arena that would operate separately from the company’s existing social media products, The New York Times reported on Tuesday, citing two employees familiar with the project. Summary Meta has reportedly assigned a dedicated team to build Arena, a standalone prediction markets app that could compete with Polymarket and Kalshi. The proposed platform would initially use a points based system, though The New York Times reported that real money wagering remains under consideration. Meta’s reported entry comes as prediction markets face growing scrutiny from U.S. lawmakers,…

StarkWare has introduced Private KYC on Starknet, a demo that lets users meet know-your-customer checks without giving companies full copies of identity documents.  Summary Private KYC lets users prove age facts without sending companies complete identity documents or addresses. StarkWare links the demo to STRK20 privacy tools built for selective disclosure and onchain verification. The launch follows rising breach costs and concern over large databases holding personal KYC records. The system uses zero-knowledge STARK proofs and STRK20 privacy features to confirm specific facts, such as age, valid credentials or eligibility. “Identity checks today ask for your whole document when they…

CBOE has begun evaluating a conversion of its Bitcoin and Ether futures into perpetual contracts after crypto perpetuals generated more than $8.5 billion in trading volume on Kalshi within weeks of launch. Summary CBOE is considering converting its Bitcoin and Ether futures into perpetual contracts after recent CFTC approvals. Kalshi’s crypto perpetual futures have generated more than $8.5 billion in trading volume within weeks of launch. CME has challenged the CFTC in court as perpetual futures trading expands across regulated and decentralized markets. According to a June 23 report from The Wall Street Journal, CBOE Global Markets is considering turning…

CFTC Chair Michael Selig has defended crypto perpetual futures while stressing they are not suitable for agricultural markets, as regulated crypto perps continue expanding across U.S. venues. Summary Michael Selig said crypto perpetual futures are not a natural fit for agricultural markets that rely on physical delivery. The CFTC and SEC have launched a joint review of swap definitions that could affect how crypto perpetuals are regulated. CBOE is evaluating crypto perpetual futures after Kalshi’s products generated more than $8.5 billion in trading volume. According to remarks delivered by Selig at the American Cotton Shippers Association Annual Convention on Tuesday,…

Zcash miner Fortitude Mining Holdings has secured a path to the public markets through an all-stock merger with HeartSciences, a transaction that will place the crypto mining company on the Nasdaq without a traditional IPO. Summary Fortitude will go public through an all-stock merger with Nasdaq-listed HeartSciences. HeartSciences shares surged as much as 91% after the transaction was announced. The deal comes as renewed attention on Zcash boosts interest in privacy-focused crypto firms. According to a joint announcement released Tuesday, Fortitude and HeartSciences have agreed to combine in a deal that will leave Fortitude’s management team in control of the…

Ric Edelman has predicted that up to 95% of institutions without crypto exposure could enter the market if the CLARITY Act becomes law. Summary Ric Edelman said up to 95% of institutions without crypto exposure could invest if the CLARITY Act becomes law. Edelman identified regulatory certainty as the main factor preventing larger institutional crypto allocations. The CLARITY Act faces Senate scrutiny as critics raise concerns about anti-money laundering safeguards in DeFi provisions. In a recent interview, Edelman said the disconnect between crypto prices and industry activity has become increasingly noticeable as large financial firms continue expanding their blockchain and…

Meta has reportedly formed a team to develop a prediction market app called Arena, a signal of the company’s entry into a sector that has attracted growing interest from both retail users and institutional investors. Summary Meta is reportedly developing Arena, a prediction platform designed to compete with Polymarket and Kalshi. The app is expected to use a points-based system initially, though real-money wagering remains a possibility. Meta’s entry comes as prediction markets attract firms like Charles Schwab while facing growing regulatory scrutiny. According to a report from The New York Times, Meta chief executive Mark Zuckerberg has assigned a…

The European Parliament has advanced legislation for a digital euro, bringing the EU closer to launching a central bank digital currency, while the U.S. moves to restrict similar efforts. Summary EU lawmakers backed digital euro legislation, moving the ECB closer to a potential 2029 launch. The ECB says the digital euro would complement cash and reduce reliance on foreign payment networks. Meanwhile, the U.S. Senate approved a bill that would block the Federal Reserve from issuing a CBDC until 2030. According to a June 23 decision by the European Parliament’s Economic and Monetary Affairs Committee, lawmakers backed the proposed framework…

Kalshi has added India to its list of restricted jurisdictions, preventing residents from accessing the U.S.-based prediction market platform, based on an updated members’ agreement published on Wednesday. Summary Kalshi has added India to its list of restricted jurisdictions, preventing local residents from accessing the prediction market platform. The move follows India’s April advisory targeting prediction market websites and comes weeks after authorities blocked access to Polymarket. Sports and political prediction contracts continue to face regulatory scrutiny as multiple countries and U.S. states move against platforms such as Kalshi and Polymarket. The revised document includes 55 restricted jurisdictions and now…

A yield-bearing stablecoin holds a steady dollar value and pays you a return for holding it. That second part is exactly what an ordinary stablecoin is forbidden to do, which is why these tokens live in a different legal world and carry risks a plain dollar token does not. Summary Yield bearing stablecoins aim to maintain a stable dollar value while passing returns to holders, unlike traditional stablecoins that keep reserve income with the issuer. Most yield bearing stablecoins generate returns from Treasury holdings, lending activity, or trading strategies, with each model carrying a different level of risk. Higher yields…