Flash News

TREE NEWS reports: A US court has ruled that Kalshi cannot prevent Nevada’s gaming regulator from overseeing its sports betting operations. The decision underscores the regulatory hurdles facing prediction markets in the US.

TREE NEWS update: Coinbase will suspend trading for BADGER and STORJ on September 29, 2024. The delisting is part of Coinbase’s routine review of assets to ensure they meet listing standards. Users are advised to take necessary actions before the deadline.

TREE NEWS update: Binance’s active buy/sell ratio for ETH has fallen to 0.81, marking an extreme sell pressure record. This suggests a significant imbalance in trading activity on the exchange.

TREE NEWS reports: Rain identified a few minor vulnerabilities in outdated Solana contracts and has upgraded them to fix the issues. The platform advises users to stay updated to ensure security.

TREE NEWS update: Goldman Sachs disclosed an $88.1 million position in a Solana ETF, making it the largest public holder. This marks a significant institutional adoption of Solana-based investment products.

TREE NEWS reports: BlackRock’s spot Ethereum ETF (ETHA) has recorded net inflows of $1.02 billion in ETH over the past nine days, signaling strong institutional demand for Ethereum exposure. This surge in buying highlights growing investor confidence in the cryptocurrency market.

TREE NEWS reports: A whale has accumulated 223,350 HYPE tokens over the past two weeks, valued at approximately $14.83 million. This significant purchase highlights growing interest in the HYPE token.

TREE NEWS update: Data shows that Unitxyz used Coinbase Prime funds to purchase $15 million worth of Hyperliquid tokens. The transaction highlights growing institutional interest in the Hyperliquid ecosystem.

TREE NEWS reports: Bitcoin fell below $78,000 after a rally fueled by ETF inflows, reflecting market volatility. The retreat highlights the ongoing impact of institutional investment flows on cryptocurrency prices.

TREE NEWS update: Data shows Abraxas Capital holds more than $472 million in perpetual contract short positions, earning $21 million in profits over the past 24 hours. This highlights significant leveraged positioning in the crypto derivatives market.

TREE NEWS update: Bitcoin’s rally paused on Friday as Federal Reserve Chair Jerome Powell signaled that inflation remains too high, dampening speculative enthusiasm. The prior surge was fueled by billions flowing into spot Bitcoin ETFs, but the latest macro commentary has cooled the market.

TREE NEWS reports: Galaxy Research’s head of research warns that the Coldcard hacker remains active, having stolen keys that were generated using entropy from five dice rolls. This highlights ongoing security risks even for hardware wallets with additional entropy sources.

TREE NEWS reports: Bitcoin’s recent rally paused after Fed Chair Kevin Warsh’s hawkish comments on inflation, causing some profit-taking. Despite this, prediction market traders remain bullish on BTC’s long-term prospects.

TREE NEWS update: Grayscale suggests that the currency devaluation trade will benefit Bitcoin as the US dollar drops to a three-month low. This macroeconomic environment may increase demand for Bitcoin as a hedge against fiat depreciation.

TREE NEWS reports: Grayscale’s research team states that the debasement trade, driven by rising government debt, is benefiting Bitcoin. The asset manager suggests that Bitcoin is well-positioned as a hedge in this environment.

TREE NEWS reports: Metaplanet CEO Simon Gerovich stated that the Bitcoin bottom has been reached and that Asia presents a significant opportunity for the cryptocurrency market. He expressed optimism about the region’s adoption and growth potential.

TREE NEWS update: At Bitcoin Asia, Metaplanet CEO Simon Gerovich argued that as regulatory landscapes shift, Asians are seeking new places to park cash, and Bitcoin presents the opportunity. He believes Bitcoin’s moment has arrived for the Far East.

TREE NEWS update: Coinbase CEO Brian Armstrong called on the US to pass the Clarity Act to establish clear regulations for the crypto industry. He emphasized that regulatory clarity is essential for innovation and growth in the digital asset sector.

TREE NEWS reports: The Ninth Circuit affirmed the dissolution of Kalshi’s Nevada injunction, finding no likely federal preemption and ruling that Kalshi’s sports contracts are not swaps. This decision splits with the Third Circuit’s preliminary conclusion, creating a legal conflict over the classification of event contracts.

TREE NEWS update: Solana validators have approved a proposal to accelerate SOL deflation, doubling the annual deflation rate to 30%. This move is expected to significantly reduce the token supply over time, potentially impacting its economics.