Crypto Pulse Media

The fund, dubbed CUSHY, targets yield from onchain lending and private credit, offering tokenized access through Superstate for institutional investors.
Investors will have the option to hold shares onchain through tokenization specialist Superstate's platform. The fund will be available on Ethereum, Solana, and Base, Coinbase's blockchain built on Ethereum.
The fund reflects a growing overlap between traditional credit markets and crypto infrastructure. Transactions in stablecoins — cryptocurrencies with prices pegged to fiat money — have surged in recent years as more financial activities migrate onto blockchains. The supply of stablecoins doubled to $300 billion in the past two years, while monthly transaction volume tripled to $1.2 trillion.
Stablecoins are the bedrock of the next financial era," said Anthony Bassili, president of Coinbase Asset Management. "With CUSHY, we are fusing the efficiency of digital rails with the rigor of traditional credit."
The move also highlights a broader trend: Asset managers are starting to treat tokenization as an extension of existing products for broader distribution, a shift that could bring more traditional finance activity to the blockchain environment.
CUSHY's tokenized share class is powered by FundOS, Superstate's platform for bringing investment funds onchain. Rather than building custom token structures, asset managers can use FundOS to issue and manage blockchain-based shares alongside traditional ones.
That approach is gaining traction. Invesco, an asset manager with more than $2 trillion in assets under management, recently became the first large asset manager to adopt the platform, underscoring a move toward shared infrastructure rather than one-off tokenization efforts.
We are the connective tissue between onchain demand and managers who have highly sophisticated institutional experience," said Jim Hiltner, co-founder of Superstate.
Superstate said it expects several more asset managers to adopt the platform in the coming months, suggesting early momentum beyond initial partners.
Superstate CEO Robert Leshner said the partnership will allow the fund to expand across multiple blockchain networks and into decentralized finance (DeFi) use cases.
$USDC
$XRP
$BNB

Sui is a differentiated Layer-1 blockchain, combining novel object-based architecture and parallel execution for high throughput. It's optimized for consumer Web3 apps.
The Sui (pronounced “swee” like sweet) network is emerging as one of the more differentiated Layer-1 blockchains in the current market cycle, combining novel architecture with a design philosophy aimed squarely at consumer-scale applications. A Layer-1 blockchain is the base layer of a network, where transactions are recorded, validated and finalized. While often grouped alongside other high-throughput chains, Sui takes a distinct approach to execution, data ownership and tokenomics, differences that may prove meaningful for long-term adoption and investor positioning.
Launched in 2023 by Mysten Labs, Sui is a delegated proof-of-stake (DPoS) Layer-1 blockchain built using the Move programming language. Its core innovation lies in an object-based data model that enables parallel transaction execution, allowing the network to process transactions simultaneously rather than sequentially. This architecture is designed to deliver high throughput and low latency, improved scalability without reliance on rollups (transaction batching) and native support for complex, asset-centric applications.
Unlike traditional blockchains, where every transaction competes for global consensus, Sui distinguishes between owned objects, which can be processed independently, and shared objects, which require consensus. This selective execution model reduces bottlenecks and enhances efficiency at scale.
Sui’s design is optimized for consumer-facing Web3 use cases, including gaming, digital identity and social applications. By minimizing execution friction and improving user experience through features like zero-knowledge (zk)-based logins and passkeys, the network aims to bridge the gap between Web2 usability and Web3 ownership. The broader implication is straightforward: if Web3 adoption is ultimately driven by applications rather than speculation, architectures like Sui’s may be structurally advantaged.
Beyond its base layer, Sui expands into a broader infrastructure stack. It includes an execution layer for smart contracts and asset logic, decentralized storage via Walrus for verifiable data, programmable encryption through Seal for access control and confidential compute with Nautilus to support hybrid on- and off-chain applications. Together, these components form a full-stack Web3 environment within the Sui ecosystem, reducing reliance on centralized infrastructure providers.
On the consensus side, Sui uses a dual-layer architecture. Narwhal handles data availability, while Bullshark provides transaction ordering and finality. This design enables the network to maintain high throughput without compromising security.
The total SUI token supply has a fixed maximum cap of 10 billion tokens, with no ongoing inflation beyond that cap. Key features include gradual token release through long-term vesting schedules, staking rewards distributed from pre-allocated supply rather than new issuance and an intentionally limited early circulating supply to reduce sell pressure.
Sui has shown steady growth across several key metrics. Transactional activity has remained consistent and active addresses have increased. Total Value Locked (TVL), or how much notional value is inside of the ecosystem, has expanded alongside the growth of decentralized finance (DeFi) protocols and stablecoin integrations. TVL peaked in October 2025 at around $2 billion and has since declined to $600 million, reflecting the broader pullback in assets across the sector.
Ecosystem growth has been driven by the expansion of DeFi platforms, the integration of major stablecoins to improve liquidity and usability and incentive programs paired with emerging consumer applications that increase engagement. Examples include Scallop, a DeFi hub focused on stablecoin lending and yield generation; Run Legends by Talofa Games, a move-to-earn fitness RPG where users walk and run in real life to battle and earn rewards; and FanTV, a TikTok-style social media platform.
One way to assess Sui, and crypto networks more broadly, is through a “network P/S ratio” (market cap divided by fees). This metric reflects investor expectations for future growth and the relationship between current usage and valuation. However, unlike traditional equities, fees are volatile, only accrue to validators and token holders who stake their SUI and are highly sensitive to incentives and subsidies. As a result, valuation should be contextualized alongside user adoption, transaction trends and ecosystem expansion.
Sui is also beginning to intersect with traditional financial infrastructure. The launch of SUI-linked investment products, including exchange-traded vehicles with staking exposure, signals growing institutional interest. This trend mirrors broader crypto market evolution, where access, yield and regulatory wrappers have unlocked pathways for sophisticated institutional access and capital deployment.
Sui represents a distinct approach within the Layer-1 landscape, combining parallelized execution and object-based architecture, a non-inflationary, vesting-driven token model and a growing ecosystem of consumer and DeFi applications.
For investors, the key question is not simply whether Sui can compete on throughput, but whether its design translates into sustained user adoption and economic activity. If it does, the network’s architecture and token structure could position it as a meaningful component in the construction of the next phase of Web3 growth.
#FedRatesUnchanged
#Uniswap’s
#FedRatesUnchanged
#AftermathFinanceBreach
##GoldRetracedToAround$4500

Anchorage seeks to expand its issuance platform through M0, and opens the door to a broad range of firms looking to launch U.S.-regulated stablecoins.
M0 (pronounced “M Zero”), is a flexible protocol that allows global institutions to mint fully configurable stablecoins, which also works with the likes of Stripe, Moonpay and MetaMask.
It might not sound like the sexiest topic, but we have been building modular infrastructure for stablecoins for three years now,” said M0 CEO Luca Prosperi, in an interview. “This means we are supporting anyone who wants to launch and manage their own stablecoin, whether it is a crypto project, protocol, fintech, payment provider, exchange and many more.”By partnering with M0, we’re extending our issuance platform to support that growth, while maintaining the regulatory, operational, and security standards our partners rely on,” said Anchorage CEO Nathan McCauley, in a statement.
The arrival of the GENIUS Act means stablecoins in the U.S. are becoming a regulated instrument. M0 has already partnered with several regulated players that are using the firm’s contracts, but with Anchorage the regulation-focused relationship is “a bit deeper,” Prosperi added.
By partnering with M0, we’re extending our issuance platform to support that growth, while maintaining the regulatory, operational, and security standards our partners rely on,” said Anchorage CEO Nathan McCauley, in a statement.
#PEPEATH
#IDKwhatIamdoing
#haroonahmadofficial
#UnicornChannel
#YiHeBinance

By partnering with Chainalysis to monitor its blockchain data in real-time, Polymarket is signaling to both users and regulators that it is serious about eliminating insider trading and market manipulation.
The move comes amid growing scrutiny of prediction markets. Critics have argued that platforms like Polymarket could be vulnerable to insiders — such as political operatives or corporate employees — placing informed bets before information becomes public. In traditional finance, such activity is illegal and closely monitored. In crypto-based markets, enforcement has been less clear.
Polymarket’s response is to lean into the transparency of blockchain. Because every trade is recorded onchain, activity can be traced and analyzed after the fact. By layering Chainalysis’ data tools on top, the company aims to detect suspicious trades in real time and, if needed, share evidence with regulators.
Polymarket was built onchain because transparency matters, and our platform shows what markets can look like when trades are open, traceable, and accountable by design,” said CEO Shayne Coplan.
Coplan has argued that prediction markets serve a broader purpose than speculation. He described them as “a very useful thermometer of the world,” where prices reflect the probability of real-world outcomes, at an event in New York this week.
Still, that usefulness depends on trust. If users believe markets are being skewed by insiders, prices become less reliable. That risk has grown as Polymarket has expanded, gaining mainstream attention during events like elections and attracting both retail traders and institutional interest.
Coplan has emphasized building something durable, focusing on products that “last” instead of chasing short-term trends.
#ZeroFeeTrading
#XRPRealityCheck
#CryptoPatience
#ValentinesDay2024
#BinanceHerYerde

The Conservative and Labour parties argued Nigel Farage broke Commons rules by not declaring the £5 million, but Reform UK said it was an exempt, personal, unconditional gift.
Farage confirmed the gift in an interview with the Daily Telegraph, saying it was meant to keep him "safe and secure for the rest of my life" after a milkshake was thrown at him in 2019 and a firebomb attack on his home last year.
Harborne, a Thailand-based businessman with a 12% stake in stablecoin issuer Tether, made the payment in 2024. Farage announced his Clacton candidacy in early June last year and won the seat in July.
A Reform UK spokesman called the payment a "personal unconditional gift" given before Farage was elected and said his decision to stand as an MP was "entirely unrelated
The spokesman, the report added, said "We are confident everything has been declared in accordance with the rules."
The Commons code of conduct requires new MPs to register benefits received in the 12 months before their election, and says any benefit should be registered if there is doubt. Reform says the gift falls under the exemption for purely personal gifts.
The country’s main opposition Conservative Party wrote to Parliamentary Standards Commissioner Daniel Greenberg asking him to examine whether any of the funds were used to support political activity rather than security. Labour chair Anna Turley said Farage "appears to have broken the rules again."
Harborne gave Reform £9 million, then worth around $12 million, late last year in the largest single donation to a U.K. political party from a living person on record.
Earlier this month, BitMEX co-founder Ben Delo said in an op-ed he had given Reform £4 million ($5.1 million) since the start of the year.
The U.K. government imposed an immediate moratorium on crypto donations to political parties in March, citing the Rycroft review's warning that digital assets could be used to channel foreign money into U.K. politics.
The ban covers donations of any size and will be written into the Representation of the People Bill, with criminal penalties for non-compliance.
That same month, Farage invested £215,000 ($286,000) in Stack BTC, a London-listed bitcoin treasury company chaired by former Chancellor Kwasi Kwarteng, taking a 6.31% stake through his investment vehicle Thorn In The Side.
#QueencryptoNews
#Dogecoin‬⁩
#Robertkiyosaki
#FactCheck
#AftermathFinanceBreach

Tyler and Cameron Winklevoss' crypto exchange now holds licenses allowing it to expand into regulated derivatives and prediction markets, the fastest-growing sectors in crypto.
Gemini shares climbed about 7% following the announcement.
Prediction markets have become one of crypto's fastest-growing areas, with trading volume increasing over 300% in 2025 to $63.5 billion, and Hyperliquid, a DeFi derivatives platform, is getting ready to compete with incumbents such as Kalshi and Polymarket. Wall Street is also in, as Roundhill Investments is expected to roll out the first U.S. exchange-traded funds (ETFs) tied to prediction markets on May 5, while two other asset managers are preparing similar products.
The approval builds on the crypto firm’s December 2025 debut of a prediction marketplace via another affiliate, Gemini Titan, which received a designated contract market (DCM) authorization from the CFTC.
With DCM and DCO licenses in place, Gemini is positioned to offer a full-stack trading ecosystem spanning sport, crypto, futures, options, and event-based contracts, the company said. Gemini also expressed intentions to expand into crypto futures, options and perpetuals for U.S. users.
Today marks a major milestone in Gemini’s marketplace expansion,” Cameron Winklevoss said in the statement, framing the development as part of a broader push toward a “super app” for financial services.
In February, Gemini made public its plans to enter the prediction markets sector and focus solely on the U.S. when it announced its exit from the U.K., European Union and Australia, which included a staff reduction of roughly 25%.
The reality is that America has the world’s greatest capital markets and America has always been where it’s at for Gemini,” the founders said, adding that their “thesis is that prediction markets will be as big or bigger than today’s capital markets.
#MemeWatch2024
#NOTCOİN
#BinanceHerYerde
#AftermathFinanceBreach
#YiHeBinance

The incident shows that as more real-world outcomes become tradable, the real bottleneck is not trading itself, but the integrity and certification of the data used for settlement, argues Hallali.
few weeks ago, abnormal temperature spikes at a Météo-France station near Paris-Charles de Gaulle (CDG) triggered a criminal complaint and an investigation. According to French media reports, the readings were linked to Polymarket bets that generated tens of thousands of dollars in gains. Whether the full mechanics are ultimately proven exactly as suspected is almost beside the point. The real story is simpler: a market that settles money on a single physical observation is only as strong as the data chain underneath it.
Most commentators focus on how to prevent this specific incident from recurring. But the more important question is why anyone should be surprised it happened at all.
The same week this story broke in France, Polymarket announced the launch of perpetual futures contracts on crypto, equities, and commodities, with up to 10x leverage and no expiration date. Kalshi confirmed a similar product days later.
A temperature bet in Paris and a leveraged Bitcoin perp look like they belong to different worlds. They do not. Both are expressions of the same underlying movement: markets are expanding into every domain where an outcome can be observed, measured, and settled. Prediction markets started with elections and sports, then moved to weather, then to 5-minute crypto price windows, and now to continuous derivatives on any asset class. The trajectory has been consistent for years.
As these markets multiply, so does the surface area for manipulation. The CDG incident is not an isolated curiosity. It is what happens when financial incentives meet fragile data infrastructure.
In decentralized finance, the "oracle problem" refers to the difficulty of feeding reliable real-world data into systems that execute financial contracts automatically. The discussion tends to be abstract, focused on API redundancy and cryptographic verification of data feeds.
What happened at CDG, whatever the investigation ultimately concludes, is the oracle problem in its most concrete and physical form. A financial market worth real money was settling against the output of a single instrument at a single location, with no cross-referencing, no redundancy, and no anomaly detection. As a meteorologist, I can say that a sudden three-degree spike at a single station, occurring in the early evening and absent from every neighboring observation, would immediately raise questions in any operational forecasting context. The fact that it did not trigger any automated safeguard before the financial settlement is what should concern us. This vulnerability is not specific to Polymarket.
That product will be systematically cheaper, faster, and more transparent than traditional indemnity insurance. Not because it covers a different risk, but because the transaction cost structure collapses entirely. No adjusters, no claims handlers, no moral hazard investigations, no 18-month settlement cycles. When you remove that much friction from risk transfer, you do not improve the existing product. You replace the architecture.
Prediction markets, perpetual contracts, weather derivatives and parametric insurance: these are not separate industries evolving in parallel. They are stages along the same trajectory: the progressive financialization of every observable risk, priced continuously, settled instantly, and available to anyone willing to pay the market price.
The CDG incident may have involved tens of thousands of dollars. Its real significance lies in its role as an early signal. The future of risk transfer will depend entirely on the quality and integrity of the data underneath, and right now, that layer is dangerously underdeveloped.
#GoldRetracedToAround$4500
#PolymarketDeniesDataBreach
#AftermathFinanceBreach
#FedRatesUnchanged
#Dogecoin‬⁩

In this week’s Crypto Long & Short Newsletter, Jordan Brewer writes on the missing piece in token markets: institutional-grade investor relations. Then, Martin Burgherr breaks down how crypto markets are maturing, becoming more efficient and lower risk for institutions.
In early March, just three months after a Solana Breakpoint mainstage appearance by Ranger Finance co-founder Fathur Rahman, and two months post-ICO, tokenholders forced the liquidation of the protocol’s treasury. How does a 14x oversubscribed ICO unravel so quickly? The answer: poor investor relations.
Institutional-grade investor relations remains the missing piece in token markets. Crypto has spent years in a venture-style framework, but protocols now seek public market investors to provide more durable capital. A key part of investor relations is a regular investor call where management walks through forward guidance — teams at Maple Finance and EtherFi are leading here. These calls are solid, but this is just the start, and the stakes are high. Done well, token valuations are rewarded; done poorly, the downside is steep.
Research shows the value of forward guidance isn't just in providing it, it's in its accuracy. Bartov, Givoly, and Hayn (2002) found that firms that consistently meet or beat their own guidance enjoy a measurable stock price premium over firms that don’t. This premium compounds for "habitual beaters," meaning the market increasingly trusts and rewards management teams that repeatedly deliver. Additionally, beating guidance is a leading indicator of future stock performance, regardless of whether the beat was genuine or a result of earnings or expectations management. Skinner and Sloan (2002) also demonstrated the inverse: growth stocks that disappoint on earnings expectations experience an asymmetrically large negative price response, far exceeding the upside reward of a positive surprise. Guidance accuracy is a proxy for management credibility, and credibility is a direct input to valuation multiples.
Crypto is beginning to produce its own version of this dynamic. In December 2024, when Maple’s AUM was $460 million and their ARR was $4 million, Maple set guidance of $4 billion in AUM and $25 million in ARR for 2025 and later raised guidance to $5 billion in AUM and $30 million in ARR. Maple delivered, hitting $5 billion in AUM and $28 million in 30 day annualized revenue in October (see table below). That's a guide-and-deliver cadence that any public market investor would recognize and reward. From December 2024 to June 2025, the SYRUP token price rose from $0.10 to a high of $0.60, outperforming competitors like AAVE by 475%.
EtherFi is a good example of this dynamic. On their March 2026 tokenholder call, the team projected a 55% reduction in customer acquisition cost while raising their advertising budget 420% throughout 2026, which would imply 11x year over year customer growth. That's the kind of specific guidance that gives investors something concrete to hold them to.
However, guidance without delivery is just marketing. Investor relations in crypto doesn’t end with a dashboard, that’s where it starts. Guidance and accountability are at the heart of credibility for protocol teams, and it is credibility that builds conviction in public investors.
#looz_crypto
#HalvingUpdate
#GamingCoins
#Shibarium
#XRPRealityCheck

Internet Computer (ICP), up 2.4% from Wednesday, joined Aptos (APT) as a top performer.
oinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.
The CoinDesk 20 is currently trading at 2062.95, up 1.1% (+22.36) since 4 p.m. ET on Wednesday.
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally
#Write2Earrn
#EarnFreeCrypto2024
#Dogecoin‬⁩ #Shibarium #IDKwhatIamdoing

Bitcoin faces profit-taking pressure near $80,000, backed up by a U.S. inflation report that comes as high oil prices and rising bond yields weigh on risk assets.
Another headwind may present itself in the form of U.S. March PCE inflation, which lands as oil prices keep pressure on risk assets. West Texas Intermediate crude has surged to as high as $110, and reduced traffic through the Strait of Hormuz has kept energy markets fragile.
Wednesday's Federal Reserve decision to hold the federal funds rate steady is also weighing on the market. Specifically, a whopping four dissenting voices, the most since 1992, with one governor pushing for a cut and three regional presidents opposing the statement's suggestion that the Fed would resume easing.
Deans also said altcoins remain tied to bitcoin, with the 180-day correlation and beta percentiles near 97% and 99%. That means tokens may move like levered bitcoin trades today.
Beneath the surface, conditions typically associated with rising volatility appear to be forming,” Deans said. “Liquidity remains subdued, with profit- and loss-taking largely offsetting each other, reflecting a lack of directional conviction.”
In these environments, he said, price moves are often needed to unlock new liquidity.
The goal is to reduce disputes between traders and coin admins when a token forms around a charitable cause. The platform’s current main fundraiser is currently at $12,800 for St. Jude Children’s Research Hospital.
Pump.fun also said it will stop using all revenue to buy and burn PUMP. Instead, it will now send 50% of future net revenue to automatic buybacks and burns for one year, while keeping the rest for hiring, product work, marketing and possible deals.
The changes come during a rough stretch for PUMP. The token is down more than 7% over the past 24 hours, compared with a 2.2% drop in the broader CoinDesk 20 (CD20) index.
#AftermathFinanceBreach
#ordi。
#Binance
#MegadropLista
#xmucanX

New data shows unusually high win rates in defense bets, building on research that 3% of traders drive prices and under 1% capture most profits.
Across political markets, such “longshot” bets typically succeed about 14% of the time. In military-linked contracts, success rates have topped 50% in some cases.
Markets tied to specific government policies, such as military and defense and foreign affairs, are harder to forecast using public information alone," the authors wrote, making them "more susceptible to information asymmetries," including insider trading or specialized knowledge.
In those markets, the gap between informed and uninformed traders may be widest, creating conditions in which a small group can consistently outperform not just by reacting faster, but by knowing more
For its part, Polymarket touts its market surveillance teams and cooperation with the Department of Justice on the Venezuela case. Trading on confidential knowledge is prohibited on the platform, as it is on Kalshi
The ACDC report's findings add to a growing body of research pointing in the same direction. A working paper from London Business School and Yale found that roughly 3% of traders account for most price discovery on Polymarket.
Separate analysis from blockchain analytics firm Solidus Labs showed that profits are even more concentrated, with fewer than 1% of wallets capturing about half of all gains. ACDC's contribution is to suggest where some of that edge may come from.
The report examines the June 2025 U.S. strikes on Iran as a case study. Polymarket listed several date-specific contracts on whether a strike would occur. Markets tied to June 19 and June 20 expired without incident, and no longshot bets won.
The strike came at 18:40 ET on June 21. In the hours leading up to it, 19 longshot bets totaling $164,292 were placed across the contracts that ultimately resolved YES. Eight wallets shared about $1.8 million in profits, with one taking nearly $500,000.
The Pentagon had designed the operation to be unreadable from the outside, using decoy bombers and long-range stealth aircraft to avoid detection. Despite that, a small number of traders placed large, well-timed bets on the outcome.
The pattern extends beyond a single event. Across Polymarket’s military and defense category, the report found that in five of the six two-hour windows before market resolution, winning longshot bets outnumbered losing ones, contrary to what market prices imply.
Longshot bets can outperform for other reasons, including mispricing or shifts in public expectations. But the consistency of the patterns, especially in markets tied to military decisions, suggests that some participants may be operating with information advantages that others do not have.
ACDC, being a nonprofit research group funded through the Fund for Constitutional Government, has no surveillance product to sell, compared to Solidus Labs, whose own recent Polymarket analysis doubles as a marketing case for the platform it licenses to Kalshi.
ACDC's recommendations include identity verification for bettors, conditional payouts on suspicious wagers, restrictions on markets whose outcomes are decided by small groups, and limits on how granular contracts can become.
The report’s conclusion goes further, calling for “an evidence-informed debate about whether the public should be betting on these outcomes at all.”
#FedRatesUnchanged
#hottrendingtopics
#FactCheck
#ETHETFsApproved
#Crypto_Jobs🎯

The firm's MiCA-compliant euro token aims to speed up euro transfers and support regulated onchain finance as the euro stablecoin market doubled since early 2025.
The setup allows businesses and developers to move euros onchain in seconds. Payments firms, for example, could send cross-border payouts to contractors in real time instead of waiting days for bank transfers, and the same mechanism can also support trading, lending or treasury management using a stable euro unit.
The move reflects growing interest in non-dollar stablecoins, especially in Europe, where firms seek digital assets that meet regulatory standards. While U.S. dollar tokens dominate the $300 billion stabelcoin market, euro-pegged tokens have seen rapid growth, doubling since the start of 2025 to almost $1 billion.
The S&P projected the market could reach 570 billion euros ($672 billion) by 2030. French Finance Minister Roland Lescure called for more euro-denominated stablecoins and urged EU banks to explore tokenized deposits.
AllUnity also highlighted that demand for regulated euro stablecoins is rising, and that expanding across multiple blockchains could help drive broader adoption in both finance and corporate payments.
As demand for compliant euro stablecoins accelerates, Solana's speed and scalability make it a natural environment for institutional-grade settlement and cross-border payments," said Peter Grosskopf, CTO and COO of AllUnity.
AllUnity said several partners, including Bullish (owner of CoinDesk), Privy, Hercle and Transak, are preparing to use EURAU on Solana for payments, trading and fiat onramps.
#FedRatesUnchanged
#AftermathFinanceBreach
#PolymarketDeniesDataBreach
#GoldRetracedToAround$4500
#Notcoin👀🔥

Backed by 20VC, Picus Capital and Coinbase Ventures; XO lets users create and profit from their own prediction markets, and plans to rollout a new vault product to democratize market making.
Today’s major platforms like Kalshi and Polymarket act more like Netflix,” Habbabeh told CoinDesk in an interview. “They decide what markets exist. We’ve flipped that model entirely. On XO, users create the markets themselves.”
The distinction is critical. While incumbents rely on internal teams to curate and list prediction markets, XO allows individuals or companies to spin up their own markets, set parameters and fees, and let others trade on them. The result, Habbabeh said, is a broader, and often more creative, set of opportunities.
We believe the future of prediction markets is user-generated. The best markets aren’t decided by a platform, they emerge from the community.”
The model appears to be gaining traction. Since starting its mainnet beta in mid-November, XO has generated more than $150 million in trading volume, attracted over 30,000 users and seen more than 600 user-created markets. An earlier pilot began in April 2025 with a testnet rollout.
The metrics look strong because the incentives are aligned,” Habbabeh said. “If you create a compelling market, people trade on it. If you don’t, it dies naturally.”
That “natural selection” dynamic may be a double-edged sword. Even Habbabeh points out that competing user-generated platforms like Nine Lives and Warm Protocol struggled to convert the concept into meaningful liquidity, resulting in inactive markets or minimal trading activity.
It is unlikely that Polymarket or Kalshi will offer user-generated markets, according to Habbabeh, because they would need to find market makers willing to provide liquidity for thousands of different events and would have to alter their infrastructure. Their current models are also extremely profitable, he added.
Prediction markets are gaining traction beyond their niche origins, drawing increased interest from retail traders and institutional participants alike as a new venue for pricing uncertainty. Advances in digital-asset infrastructure have lowered barriers to entry, while a series of high-profile political and economic events has underscored the limitations of traditional forecasting tools.
The result is a growing number of platforms where contracts tied to real-world outcomes are traded with increasing liquidity, positioning prediction markets as an emerging, and lightly regulated, complement to conventional financial markets.
Total industry volume jumped roughly fourfold to more than $60 billion in 2025, up from about $15 billion–$16 billion the year before, with platforms like Polymarket driving much of that growth.
On Polymarket specifically, monthly trading exploded from just $54 million at the start of 2024 to over $2.6 billion the following November, helping push cumulative volume past $9 billion in a single year
For now, the focus remains on growth and product expansion.
As XO builds out its ecosystem, Habbabeh is confident the user-generated model will continue to differentiate it.
The internet showed us that the best content doesn’t come from centralized studios, it comes from users,” he said. “We think prediction markets will follow the same path.”
#FedRatesUnchanged
#AftermathFinanceBreach
#PolymarketDeniesDataBreach
#GoldRetracedToAround$4500
#haroonahmadofficial

Hyperliquid is gearing up to challenge Polymarket with a zero-fee entry for event betting as the $63 billion prediction market sector continues to explode.
The key detail in the structure is that opening a position costs nothing. Fees only apply when closing or settling a trade. The document outlines six scenarios covering minting, trading, burning and settlement.
Traders using Hyperliquid's "aligned quote tokens" get better rates, with taker fees 20% lower and maker rebates 50% higher than standard. The full fee formula has been published for developers.
The broader significance is that HIP-4, the upgrade introducing outcome tokens, would let users trade binary contracts on real-world events alongside Hyperliquid's existing perpetuals and spot positions in a single account as it looks to compete with platforms like Polymarket, which said earlier this week that perpetual trading is "coming soon."
Hyperliquid's previous upgrade, HIP-3, which opened permissionless perpetuals to developers, has grown to more than 35% of all platform trading volume since its introduction in October 2025.
Outcome tokens are currently on testnet only. No mainnet date has been confirmed.
#GoldRetracedToAround$4500
#PolymarketDeniesDataBreach
#AftermathFinanceBreach
#FedRatesUnchanged
#YapayzekaAI

Crypto sold off across the board with bitcoin down 2.1% and ether off 3.4% as Brent crude surged 7.1% to $126 a barrel on reports President Trump is being briefed on military options for Iran.
The report added U.S. Central Command has asked for hypersonic missiles to be deployed to the Middle East, which would mark the first time American forces have used those weapons in combat. The Strait of Hormuz has been effectively shut since the war began in late February, choking flows of crude, natural gas, and oil products.
Such activity leads to a war premium, which refers to the portion of an asset's price driven by conflict risk rather than supply-demand fundamentals. Brent has been carrying a heavy one all year, with prices up over 100% year-to-date.
The global benchmark is now riding a nine-day winning streak, the longest since May 2022, and is up over 100% year-to-date.
Ether dropped 3.4% to $2,244 and is down 4.4% on the week. XRP fell 2.1% to $1.37, off 3.7% over seven days. Solana lost 2.6% to $82.62. BNB shed 1.9% to $615. The only green print in the top 10 outside stablecoins is dogecoin, up 3.8% on the day and 10.1% on the week to $0.10.
Risk assets are giving back gains across the board. Nasdaq 100 futures erased an earlier 1.1% rally fueled by strong Alphabet and Amazon earnings, MSCI's Asia Pacific share index fell 1.4%, and European equities were primed to drop 1% at the open.
The dollar gained and bonds slid as the surge in oil and a hawkish Fed hold sapped demand for fixed income. Treasury 10-year yields held near the highest since July, and Japan's 10-year notes hit the highest level since 1997, per Bloomberg.
Bitcoin's resilience through the early stages of the war is being tested. The asset has held a tight band between $74,000 and $78,000 through April even as oil ran from $98 to $126 and the conflict entered its third month. Each escalation headline has produced a sharper drawdown, and the cumulative damage is starting to show.
BTC is now $50,000 below its October 2025 all-time high of $126,000.
Fernando Lillo, director at exchange Zoomex, said in a note that any break above $80,000 requires the war premium to unwind.
Bitcoin is trying to break the key $80,000 level, which would require a resolution to the Middle East conflict and, as a result, a drop in Brent crude oil prices below $100 per barrel," he said. "One is impossible without the other, and the USA administration's plans for a prolonged naval blockade of Iran are becoming a real obstacle."
Lillo flagged a possible scenario where the Trump administration lifts the blockade in coming days and frames it as a response to "positive steps by Iran" to engineer a relief rally.
"A potential lifting of restrictions in the region and lower oil prices could trigger an accelerated influx of capital into risk assets, paving the way for Bitcoin to consolidate above $80,000 and move toward $85,000."
#FedRatesUnchanged
#AftermathFinanceBreach
#PolymarketDeniesDataBreach #GoldRetracedToAround$4500
#BitMineIncreasesEthereumStaking

Open interest in DOGE-tracked futures climbed to 15.36 billion tokens, a sign that traders are adding fresh leverage as the memecoin’s price surges.
The upswing in open interest suggests more traders are chasing leveraged directional plays, a sign of strong risk sentiment in the market.
DOGE's price has climbed nearly 10% over the past week, briefly pushing above 11 cents before settling near $0.105 as of writing, according to data source CoinDesk. Bitcoin, meanwhile, has pulled back below $76,000 after trading above $79,000 earlier this week.
The combination of rising spot price and futures OI suggests that new money is entering the market rather than old positions being closed. The pattern is said to reinforce the prevailing market trend, which is bullish, in DOGE's case. However, it also leaves the market more exposed to sharp liquidations if momentum reverses.
Binance accounted for nearly 3.99 billion DOGE in open interest, followed by Bitget, Bybit, and OKX, each with more than 1 billion DOGE, data shows. Hyperliquid, MEXC, WhiteBIT, and KuCoin also showed sizable positions, pointing to a move not confined to a single venue.
DOGE's rally comes after weeks of sideways trading and a broader return of speculative interest across majors earlier in the week.
Market observers such as Jordan Jefferson, founder of DogeOS and MyDoge, said in a message to CoinDesk that several catalysts may be contributing to demand for the token.
DOGE's price move isn't tied to a single news event," Jefferson said. "Over the past week, large holders added more than 500 million DOGE. 21Shares listed a physically backed ETP on Xetra, and Grayscale flows turned positive after nine straight days of outflows. On-chain activity is also up, with active addresses rising 28%."
Those flows matter because DOGE's market structure tends to respond quickly when spot accumulation, derivatives leverage, and retail narratives align.
The token has historically traded less like a payments asset and more like an attention-driven macro meme, where positioning can accelerate fast once traders believe a familiar catalyst is back in play.
The X payments angle remains a swing factor, but the least concrete part of the DOGE trade. Elon Musk has said that X Money will launch as a payments product with peer-to-peer transfers, bank deposits, a debit card and cashback rewards through X Payments, a licensed subsidiary partnered with Visa.
Nothing in the announced product indicates support for dogecoin or any crypto functionality. Still, DOGE traders could be reacting to the payments-related developments at Musk-owned companies, possibly in hopes that the token could eventually be folded into X's financial stack. This hope comes from Musk's vocal support for dogecoin since at least 2021. At one point, he said the token could make DeFi more accessible to everyone.
For now, traders are treating DOGE as if something bigger is building, and the futures market is where that conviction is showing first.
#MegadropLista
#FedRatesUnchanged
#AftermathFinanceBreach
#DelistingAlert
#altcycle

Hawkish dissent within the Federal Reserve, elevated oil prices and rising long-term inflation expectations are pushing bond yields higher.
His reaction also sums up the mood of several crypto analysts who see rising yields as a headwind At this point, the dynamic is simple. As long as yields remain attractive and [Fed's monetary policy] stays tight, capital has a real alternative to risk. This continues to pressure assets like crypto, depending on liquidity and momentum," Diana Pires, chief business officer at sFOX, said in an email to CoinDesk. sFOX is a San Francisco-based cryptocurrency prime dealer and trading platform designed for institutional investors, hedge funds, and businesses.
Bitcoin is already under pressure alongside an uptick in the Dollar Index (DXY). As of writing, BTC traded at $75,670, down 2% over 24 hours, and the DXY hovered above 99, looking to extend Wednesday's 0.5% gain.
Here's why rising bond yields typically hurt BTC and other risk assets. When the U.S. government needs to borrow money, it issues bonds, and the yield on those bonds is the annual return the bond investors earn. So, when yields rise, bonds become more attractive. A 30-year Treasury yielding 5% is an almost risk-free return.
Therefore, every dollar sitting in bitcoin is a dollar not earning that 5% yield. That tradeoff typically leads to capital rotation out of non-yielding risk assets, such as bitcoin and other risky assets like technology stocks. Rising yields also typically weigh on gold, which fell over 1% to a one-month low of $4,540 on Wednesday and last changed hands near $4,564.
Rising Treasury yields and a stronger dollar [have] historically pressured crypto valuations by tightening financial conditions," Vikram Subburaj, CEO of India-based FIU-registered Giottus exchange, said.
Note that the 30-year yield is not the only one rising. The 10-year yield, which serves as a benchmark for borrowing costs across the economy, is also elevated. Together, they point to financial tightening, a situation where borrowing gets costly, disincentivizing risk-taking in both financial markets and the economy.
Bond yields are also rising in the U.K. and other parts of the world.
The central bank left rates unchanged between 3.5% and 3.75%, as expected. What was not expected was the internal dissent. Three out of 12 voting officials pushed back against easing language in the statement, a development that has caught markets off guard.
That's pushed up expectations for higher-for-longer interest rates, which is showing up in bond yields.
The Fed's decision to keep rates steady wasn't the shocker, but those three dissenters calling for a strike on any easing guidance threw a bucket of ice on the market's pivot party. It's a classic hawkish signal, and as Bitcoin is usually an indicator of risk, Bitcoin is feeling it," Matt Mena, senior crypto research strategist at 21shares, said in an email.
ING characterized the so-called hawkish dissent by three officials as a warning shot aimed at incoming Fed Chair Kevin Warsh, Donald Trump's pick to replace outgoing Chairman Jerome Powell. "They perhaps want to make it clear that they will not be easily swayed to his way of thinking that rates in time can be lowered," ING analysts said.
Interestingly, the policy statement released Wednesday contained no clear bias toward easing, reinforcing the message that the Fed is in no hurry to pivot.
The bond yield surge is not just about the Fed. Early Thursday, oil prices surged to their highest since 2022, with Brent briefly topping $125 per barrel, after Trump mulled extending the blockade of Iranian ports. Moreover, oil prices have been elevated, hovering largely between $80 to $120 since the Iran war began in late February.
As a result, energy prices at gas stations are surging, pushing long-term inflation expectations higher, as CoinDesk noted early this week.
Inflation is not convincingly back to target, and the Fed is not signaling a near-term shift. Markets may want clarity on cuts, but the Fed is not giving yet. Until that changes, flows will keep favoring yield and safety over volatility. For crypto, that means the macro backdrop remains a headwind, not a tailwind," Pires said.
#FIT21
#btc70k
#PolymarketDeniesDataBreach
#coinaute
#Dogecoin‬⁩

Speaking at Bitcoin Las Vegas 2026, the American Bitcoin co-founder declared the last six months a turning point.
What bitcoin has done in the last six months relative to the previous three years is transformational," said Trump. "We are in the greatest period I've ever seen."
Trump pointed to major banks now offering bitcoin-backed mortgages and custody services as evidence of a Wall Street reversal. "People are not selling it. People are holding it. Bitcoin is becoming sticky," Trump said, adding that limited supply and growing demand from both institutions and sovereign governments are compressing the market structurally.
Moderator Eric Balchunas, Bloomberg's senior ETF analyst, framed the shift through the lens of the ETF market, noting that bitcoin ETFs have been among the most successful product launches in the instrument's history, democratizing access for everyday investors in a way previously reserved for institutions.
I'll ride out the volatility," said Trump. "We'll see who wins in a 10-year period of time."
#PEPE‏
#haroonahmadofficial
#FedRatesUnchanged
#AftermathFinanceBreach
#GoldRetracedToAround$4500

Tether has moved to combine bitcoin treasury, mining, and financial services under one roof.
If completed, these transactions would position XXI to become the premier listed Bitcoin company in the world: a public company that combines Bitcoin treasury, mining, financial services, lending, capital markets, and strategic consolidation into one integrated platform," according to the press release.
Led by Raphael Zagury, Elektron Energy manages approximately 5% of the current bitcoin network's computing power with all-in production costs below $60,000 per bitcoin.
No terms of timelines were disclosed for the merger
Tether also proposed that Zagury serve as President of the combined entity, pairing his mining and capital markets experience with Mallers' product and consumer bitcoin leadership.
XXI went public in December of last year through a SPAC merger with Cantor Equity Partners. The company entered the market as a bitcoin treasury firm with 43,514 BTC and is backed by Tether, Bitfinex and Strike CEO Jack Mallers. At the time, it said it would focus on “capital-efficient bitcoin accumulation.”
If the new merger takes place, the company will expand on this previous treasury commitment into other parts of bitcoin services, the press release said.
The combined transactions would move XXI beyond treasury exposure alone and toward a platform with operating businesses, recurring revenue opportunities, and long-term Bitcoin accumulation capabilities," the statement added.
#GoldRetracedToAround$4500
#PolymarketDeniesDataBreach #AftermathFinanceBreach
#FedRatesUnchanged #LayerZeroBacksDeFiUnitedWithOver10000ETH

The four Mag 7 giants reported quarterly results on Wednesday, showing that they are still on track to spend multi-billion on AI. Here is what it means for crypto.
Previously, an analysis by Bridgewater Associates flagged that the four companies are expected to spend roughly $650 billion together on AI infrastructure in 2026. While most of them didn't break out their AI spending in their latest earnings, they seem on track to continue their spending spree in the sector.
The investment has significant implications for the digital asset sector, particularly for bitcoin miners, who are increasingly pivoting away from mining toward hosting computers for AI as part of their revenue diversification strategy. The bitcoin miners already have data centers ready and powered up to host a massive amount of machines that are needed for AI computing. Facing a margin squeeze from lower bitcoin prices and increased competition, miners have started lending their data centers to AI firms to diversify their revenue streams.
AI-linked bitcoin mining stocks with exposure to hyperscaler infrastructure deals include IREN (IREN), which was down about 0.3%, TeraWulf (WULF) and Cipher Digital (CIFR), which fell 0.5%. Meanwhile, following the results, Microsoft was down over about 2.4% in after-hours trading, Alphabet up 6%, Meta down 6.6% and Amazon down 3.7%. Bitcoin was down about 0.9% in the last 24 hours.
The next big test of overall market sentiment and miners will come when chipmaker Nvidia reports earnings on May 20.
Here is what the tech giants reported and said during their earnings.
Microsoft reported fiscal Q3 2026 revenue of $82.9 billion, beating the $81.4 billion consensus, with EPS of $4.27 against the $4.06 estimate, according to FactSet data.
We are focused on delivering cloud and AI infrastructure and solutions that empower every business to eval-max their outcomes in the agentic computing era," said Satya Nadella, chairman and chief executive officer of Microsoft, noting that the firm's AI business brought in $37 billion, up 123% year-over-year.
Alphabet pointed to AI as a core driver of growth and reported capital expenditures of $35.67 billion for the quarter, slightly below estimates of $36.39 billion.
Our AI investments and full stack approach are lighting up every part of the business,” Alphabet CEO Sundar Pichai said, linking gains in Search and Cloud to AI-driven demand. Google Cloud revenue rose 63% to $20 billion, fueled in part by “enterprise AI Solutions and enterprise AI Infrastructure,” showing how AI is shaping both product usage and enterprise adoption.
Alphabet reported Q1 2026 revenue of $109.9 billion, beating the $107 billion consensus, with EPS of $2.81 against the $2.63 estimate.
Amazon reported Q1 2026 revenue of $181.5 billion, beating the $177.2 billion consensus, with EPS of $2.78 against the $1.63 estimate. AWS revenue came in at $37.6 billion against the $36.92 billion estimate.
Amazon said free cash flow fell sharply over the past year, pointing to a surge in infrastructure spending. The company noted the drop was “driven primarily by a year-over-year increase of $59.3 billion in purchases of property and equipment,” adding that “this increase primarily reflects investments in artificial intelligence.” The shift shows how heavily Amazon is leaning into AI, even as it weighs on near-term cash generation.
Meta pointed to rising AI infrastructure costs as a key driver of spending, reporting $19.84 billion in capital expenditures for the quarter and raising its full-year outlook to $125–145 billion, up from its prior guidance of $115–$135 billion. The increase reflects “higher component pricing this year and, to a lesser extent, additional data center costs to support future year capacity,” the company said, underscoring how AI buildout is driving investment.
CEO Mark Zuckerberg framed the push more directly, calling it a “milestone quarter” tied to AI progress and adding, “We’re on track to deliver personal superintelligence to billions of people.
Meta reported Q1 2026 revenue of $56.31 billion, beating the $55.5 billion consensus, with EPS of $10.44 against the $6.67 estimate.
#FedRatesUnchanged
#AftermathFinanceBreach
#PolymarketDeniesDataBreach
#GoldRetracedToAround$4500
#BinanceLaunchesGoldvs.BTCTradingCompetition