Market News

The US CFTC to review prediction market rules

February 7, 2025 2 mins read

The US Commodity Futures Trading Commission (CFTC) is holding a public roundtable to discuss the regulation of prediction markets. This could affect platforms like Kalshi and Polymarket. The CFTC has recently sought public input on event contracts, indicating a change in its regulatory approach. Acting CFTC Chair Caroline D. Pham criticized the previous regulatory framework, calling it a “legal sinkhole” that hindered innovation in prediction markets. The roundtable will explore

Czech President signs a bill exempting crypto users from paying taxes

February 7, 2025 1 min read

Czech President Petr Pavel recently signed a new bill that benefits crypto users. This law states that if individuals hold their crypto assets for more than three years, they will not have to pay taxes on any profits made from selling them. Additionally, transactions involving amounts up to CZK 100,000 (around $4,136) each year will not need to be reported in tax declarations. This approach aligns with how securities are

Coinbase CLO Paul Grewal will testify before Congress against Operation Choke Point 2.0

February 6, 2025 1 min read

Paul Grewal, the Chief Legal Officer of Coinbase, is set to testify before Congress about Operation Choke Point 2.0. His goal is to advocate for fair regulations for the cryptocurrency industry. This testimony is part of a larger plan to build a better relationship between the crypto sector and the US government. Coinbase has faced legal challenges to expose past regulatory issues while also being open to new laws that

The SEC reassigns 50 staff, scaling back crypto enforcement

February 6, 2025 2 mins read

The SEC is making significant changes to its crypto enforcement team. Over 50 lawyers and staff members are being reassigned to different roles. This decision reflects a new approach to digital asset regulation under President Trump’s administration. The downsizing follows an executive order aimed at promoting digital asset growth by reducing regulatory barriers. Some SEC lawyers who worked on crypto cases are being moved to other positions. A report from

Blackrock (BLK) plans on listing a bitcoin exchange traded product (ETP) in Europe

February 6, 2025 1 min read

BlackRock, the largest asset management firm in the world with over $10 trillion in assets under management, is planning to launch a bitcoin exchange-traded product (ETP) in Europe. This news was reported by Bloomberg. The new fund will be based in Switzerland, and BlackRock may start marketing it as early as this month. This will be BlackRock’s first crypto-linked ETP outside the United States. Their U.S.-based iShares Bitcoin ETF has

LayerZero Labs settles with the FTX estate

February 2, 2025 1 min read

LayerZero Labs has settled a legal dispute with the FTX bankruptcy estate after two years of conflict. Bryan Pellegrino, the co-founder and CEO of LayerZero, shared this news on social media. He explained that the dispute was not about LayerZero versus FTX, but rather LayerZero versus the creditors, of which they are also a part. The legal issues began in 2023 when the FTX estate sued LayerZero Labs. This lawsuit

MicroStrategy launched its convertible preferred stock offering

February 2, 2025 1 min read

MicroStrategy, a business intelligence company, recently announced a significant stock offering. On January 30, the company sold 7.3 million shares of its 8% Series A perpetual strike preferred stock, known as STRK. The public offering price was set at $80 per share. This amount is nearly three times the initial plan of 2.5 million shares. The company expects to raise about $563.4 million from this offering. MicroStrategy plans to use

Kraken exchange to delist USDT and several other stablecoins

February 2, 2025 1 min read

Kraken crypto exchange will delist Tether (USDT) and four other stablecoins in the European Economic Area (EEA). This decision is in response to new regulations under the Markets in Crypto-Assets (MiCA) framework. The delisting will happen in phases, with the process ending on March 31, 2025. The stablecoins being delisted include PayPal USD (PYUSD), Euro Tether (EURT), TrueUSD (TUSD), and TerraUSD (USDT). The delisting will start on February 13, 2025.

The US SEC has fast-tracked approval for Bitwise’s Bitcoin and Ethereum ETF in just 45 days

February 1, 2025 1 min read

The U.S. Securities and Exchange Commission (SEC) has quickly approved Bitwise’s spot Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Fund (ETF). This approval came just 45 days after Bitwise filed the necessary paperwork, a significant reduction from the usual 240-day review period. On January 30, the SEC approved NYSE Arca’s 19b-4 filing, allowing the ETF to be listed and traded. The fund will invest based on the market capitalization of Bitcoin

The parents of former FTX CEO seek to get their son a presidential pardon

February 1, 2025 1 min read

Sam Bankman-Fried’s parents are trying to secure a presidential pardon for their son from Donald Trump. Joseph Bankman and Barbara Fried, both law professors at Stanford, have met with lawyers and Trump administration members to discuss this matter. Their son is currently serving a 25-year prison sentence after being convicted of fraud. He was sentenced in March 2023, following the bankruptcy of his cryptocurrency platform, FTX, in 2022. This effort

MicroStrategy launches Preferred Stock ($STRK)

January 31, 2025 1 min read

MicroStrategy ($MSTR) is introducing Preferred Stock ($STRK) to raise capital. The company plans to sell 2.5 million Preferred Shares at $100 each, totaling $250 million. Each Preferred Share can be converted into 1/10th of a Class A Common Share, making the conversion price $1,000 per Common Share. Investors will receive an 8% annual dividend based on the liquidation value. For a Preferred Share worth $100, this means an annual earning

Sonic founder reveals he left DeFi in 2022 due to relentless SEC harassment

January 31, 2025 1 min read

Andre Cronje, the founder of Sonic, left the DeFi space in 2022 due to harassment from the SEC. He shared that the pressure from US regulators drained his energy and made it difficult for him to continue in the industry. Initially, the SEC’s inquiries were simple, focusing on investors and profits. However, these inquiries quickly escalated into aggressive demands. Despite not being a US citizen and having no business in