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Three in Beasley NBA Betting Case to Plead Guilty, Prosecutor Says


Three of the five remaining defendants in the federal case accusing former NBA guard Malik Beasley of fixing his own stat lines for bettors intend to plead guilty, a prosecutor told a Brooklyn judge on Wednesday. Beasley’s lawyer says he has no plans to plead. Beasley Holds Out as Others Move...

Binance US Chases $100 Million at a Fraction of Past Valuation: Bloomberg


Binance US is reportedly seeking up to $100 million in fresh capital at a valuation of roughly $1 billion, a striking reversal from its $4.5 billion pre-money valuation in 2022. Bloomberg reports that the exchange wants to rebuild its American business after years of regulatory trouble, shrinking...

US Becomes Bitcoin Net Importer Again, Says Chainalysis


The U.S., a global supplier of USD-pegged stablecoins, has once again “imported” more bitcoin than it “exported,” becoming a net importer for the first time since 2022, according to blockchain analysis firm Chainalysis. The firm reached this conclusion by analyzing data for the year...

Tether Paid a Firm Owned by a Former White House Crypto Official, WSJ


A Wall Street Journal investigation alleges that Tether paid approximately $6.3 million to a consulting firm partly owned by Bo Hines while he served as a senior White House cryptocurrency official. Hines helped advance the GENIUS Act, legislation with major implications for Tether, before leaving...

Polygon Rolls Out US-Regulated Payments With Completed Coinme Deal


Polygon Labs has completed its acquisition of crypto payments company Coinme, bringing regulated U.S. payment capabilities to its Open Money Stack platform and expanding its push into stablecoin-powered financial services. Polygon Gets Regulated Payments via Coinme Polygon Labs announced Wednesday...

Coinbase Users in Michigan Will Lose Sports Markets This Weekend


Coinbase will switch off sports prediction markets for Michigan customers as Saturday begins, becoming the third platform to pull back from the state as its attorney general vows to bring “all sports betting into compliance with the law.” The Third Platform Shut Out of Michigan Coinbase...

US Government Shifts $1 Billion in Bitcoin, $94 Million in Tether


The U.S. government’s cryptocurrency shuffle isn’t over. Following two days of bitcoin transfers totaling $770 million, federal wallets moved another 12,267.02 BTC worth approximately $1.01 billion on Thursday. The latest activity also included $94.15 million in USDT and some small test...

US Government Shifts $770M in Bitcoin as Mystery Wallets Emerge


The U.S. government transferred approximately 9,261 BTC, valued at $770 million, to Coinbase Prime on Tuesday and Wednesday, according to Galaxy Research. While much of the bitcoin originated from known criminal seizures, researchers identified another 2,456 BTC from previously unrecognized...

US Lawmaker Pushes Ban on Candidates Betting on Their Own Elections


U.S. Rep. Don Davis has introduced the No Betting on Your Own Race Act, which would prohibit federal candidates from trading prediction market contracts tied to their own elections. Davis Seeks Ban on Candidates Betting on Their Own Elections U.S. Representative Don Davis, D-N.C., has introduced...

US Government Moves $71M Bitcoin Stash After 6-Week Silence


On Tuesday, the U.S. government moved bitcoin for the first time since Aug. 26, with government-linked wallets shifting 833.6 BTC valued at just over $71 million. The coins trace back to two separate cases involving the Potapenko-Turogin fraud case and the 2016 Bitfinex hack. Government Wallets...

Kalshi Ends Federal Court Losing Streak With Partial Win Over Illinois


A federal judge in Chicago blocked Illinois from enforcing its sports wagering license rules and a related criminal provision against Kalshi and Coinbase, but held off on the state’s new prediction market fees. It’s Kalshi’s first win in federal court since July. Judge Says a Swap...

Ray Dalio Just Put a Three-Year Clock on a US Debt Crisis


Bridgewater Associates founder Ray Dalio told Bloomberg on Oct. 6 that the U.S. could face a debt crisis within three years as interest payments crowd out the rest of the federal budget. The Clock Has Not Moved, but the Bond Market Has The billionaire macro investor believes that U.S. debt service...

Trump Names Jay Clayton to Lead America’s Super Intelligence Force


Federal efforts to coordinate artificial intelligence (AI) policy will fall to a new Super Intelligence Force, President Donald Trump announced. Director of National Intelligence Jay Clayton joins three other officials tasked with maintaining U.S. leadership and protecting Americans. Jay Clayton...

US Regulators Push National Crypto Rules as America Chases Global Lead


Federal crypto initiatives are advancing across trading, asset custody, and tokenized stocks as Washington pursues global digital asset leadership. The CFTC’s new consultation joins SEC measures aimed at keeping innovation domestic while protecting customers and investors. Two Federal Paths...

Novig Says Trading Jumped 94% After Sydney Sweeney’s Viral Ad


Sports-centric prediction market platform Novig says its trading volume nearly doubled around the launch of its Sydney Sweeney campaign, with first-time depositors more than tripling. The company-reported figures cover a window that also included the start of the NFL season, and a new funding round...

CFTC Readies Action on Prediction Market Promos, Expected This Week


The Commodity Futures Trading Commission is reviewing the bonuses and incentive programs used by prediction markets, with an announcement of some kind reportedly due by the end of the week. The review comes two weeks after the regulator’s deadline for exchanges to bring those programs into...

Problem Gambling Council Director Resigns Months After Kalshi Deal


The National Council on Problem Gambling is looking for a new executive director after Heather Maurer’s resignation. She is the second senior staff member to depart in a week at the U.S. nonprofit, which has faced criticism since accepting $2 million from Kalshi in May. Two Departures in Seven Days...

Rep. Comer Targets 3 Platforms in Expanded Prediction Market Probe


House Oversight Chairman James Comer has expanded Congress’s prediction market insider trading investigation to Hyperliquid, Crypto.com, and Predictit, demanding records by Oct. 13. The inquiry follows allegations that a U.S. Army master sergeant earned more than $409,000 betting with...

Crypto ATM Numbers Fall to 2021 Levels Amid Regulatory Crackdown


According to statistics from the cryptocurrency automated teller machine (ATM) aggregation website, coinatmradar.com, the number of crypto ATMs has dropped considerably over the last 148 days. Current metrics show the number of crypto dispensing machines installed worldwide has declined to a level...

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