Regulation & Policy
• U.S. senators introduce bipartisan bill to ban sports betting on prediction
markets; Kalshi and Polymarket tighten anti-abuse measures.
• Sen. Elizabeth Warren raises concerns over Beast Industries’ financial
services expansion targeting younger users.
Market Structure & Institutional Adoption
• Hostplus considers adding crypto exposure via self-directed option, pending
regulatory approval.
• BlackRock CEO highlights tokenization potential to streamline investing and
transactions.
• Circle pushes for flexible stablecoin rules, emphasizing interoperability and
non-euro adoption in the EU.
Corporate & Investment
• ParaFi raises $125M venture fund; $325M raised for strategies in 2025.
• Gemini revenue mix shifts toward services; price target cut on weaker trading
outlook.
• ChangeNOW launches Fast-Track Program to address early-stage wallet
monetization.
Institutional & Treasury Moves
• Strategy buys 1,031 BTC for $77M; total holdings reach 762,099 BTC; relies on
equity issuance for funding.
• Bitmine Immersion holds 4.66M ETH (~3.86% supply), total assets ~$11B.
• Core Scientific secures additional $500M credit line from JPMorgan, total
facility $1B.
Blockchain & DeFi
• Aave V4 to introduce Hub-and-Spoke model to improve liquidity and market
structure.
• IDEX to power Katana Perps platform backed by major market makers.
Prediction Markets & Funding
• Kalshi and Polymarket CEOs back $35M venture fund 5c(c) Capital for prediction
market startups.
• 5c(c) Capital also backed by Marc Andreessen, Micky Malka, and Kyle Samani.
Market Activity & Flows
• Ethereum OG sells $31M ETH after decade-long hold.
• Circle and Coinbase seen as key beneficiaries of stablecoin growth and agentic
payments (Bernstein).
Strategy & Infrastructure
• NovaBay focuses on staking-based returns tied to governance participation;
backed by Framework Ventures and Tether Investments.
