The rapid growth in the number of crypto tokens is outpacing the value they generate, creating an “existential” problem for the industry, according to Michael Ippolito, co-founder of Blockworks. In a series of posts on X, Ippolito noted that while total crypto market capitalization remains relatively strong, the average value per token tells a different … Read more
AI firm Anthropic forms an employee-funded PAC while facing questions over political balance and a growing dispute with the Pentagon over AI use. Artificial intelligence firm Anthropic has launched a corporate political action committee (PAC), entering election financing as debates over AI policy intensify in Washington. The company filed a statement of organization with the … Read more
Social media bearishness around Bitcoin has reached its highest level since the end of February, according to crypto sentiment platform Santiment. “FUD has crept back in with the community showing a key lack of optimism,” Santiment said in an X post on Saturday, adding that it is “usually a common ingredient for prices rebounding.” The … Read more
Key takeaways: Bitcoin hitting $72,000 would liquidate $2.5 billion in shorts, potentially crushing bears who are overleveraged. Iran’s war and high oil prices currently pressure BTC, but a ceasefire or ETF inflows could spark a rapid recovery. $2.5 billion in shorts at risk if BTC hits $72,000 Bitcoin (BTC) has consistently failed to hit new … Read more
The Bitcoin (BTC) network needs a “conservative” Bitcoin client node software implementation to preserve its monetary properties and strengthen network decentralization, according to Jimmy Song, co-founder of ProductionReady, a non-profit organization funding open source Bitcoin node software development and education. The organization has a “bias” against significant code changes, unless there is “overwhelming” community support … Read more
The Iranian government’s attempt to block the Telegram messaging application in the country has backfired, as users find ways to circumvent national firewalls and online controls, according to Telegram co-founder Pavel Durov. “Iran banned Telegram years ago,” Durov said on Friday; however, tens of millions of users in the country have managed to access the … Read more
Prediction markets are pushing into Asia’s largest economies, even as local gambling laws place strict limits on betting activities. Asia represents a combination of scale, active retail participation and limited local alternatives, making it too large to ignore despite regulatory risks. That’s a similar pattern seen in crypto, where technology moved faster than regulation and … Read more
A Nevada judge has reportedly extended a ban preventing Kalshi from offering event-based contracts in the state, ruling that the products constitute unlicensed gambling under state law. Judge Jason Woodbury said at a hearing in Carson City on Friday that he will grant a preliminary injunction requested by the Nevada Gaming Control Board, barring the … Read more
Polymarket removed a market tied to the fate of a missing US service member after mounting backlash, saying the listing violated its “integrity standards.” The controversy erupted after a prediction market appeared asking whether US authorities would confirm the rescue of a pilot reportedly shot down over Iran, with most users (over 60%) betting that … Read more
Bitcoin’s prolonged consolidation below $70,000 may be paving the way for a more significant rally, according to a crypto analyst. “The longer it lasts, the heavier the breakout will be,” MN Trading Capital founder Michael van de Poppe said in an X post on Friday. “Bitcoin remains stagnant in this area, which means that there’s … Read more