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Quick Take Kalshi has recently received cease and desist notices from gaming regulators in Nevada and New Jersey that seek to stop the prediction marketplace from offering contracts related to sports events and argue only state-licensed organizations can offer sports gambling. Kalshi sued the agencies in response, arguing that as a CFTC-regulated exchange, it is exclusively regulated by the federal government, and the Commodity Exchange Act preempts state law.
Web3 still hasn’t gone mainstream — but Ice Open Network is making decentralized tech feel as simple and seamless as Web2.
Quick Take Daily exchange volumes have dropped from a $126 billion post-election peak to $35 billion, returning to pre-election levels amid market uncertainty. The following is an excerpt from The Block’s Data and Insights newsletter.
Quick Take The FTX estate is set to begin repaying its creditor claims over $50,000 in value on May 30. Creditor repayments could take time given a large volume of likely fraudulent claims, one of FTX’s bankruptcy attorneys said, according to a Bloomberg report. The cryptocurrency claims are valued as of the bankruptcy petition date, November 11, 2022; the price of BTC is currently 5x higher than that value.
- 10:54Data: Ethereum has processed $1.18 trillion in stablecoin transfers over the past 30 days, setting a new historical highPANews reported on April 12, according to Cointelegraph, in the past 30 days, Ethereum has processed stablecoin transfers worth $1.18 trillion, making it the largest 30-day stablecoin transfer volume in Ethereum's history.
- 10:37Data: The total open interest of BTC contracts across the entire network has reached 56.875 billion US dollarsChainCatcher News, according to Coinglass data, the total open interest of BTC contracts across the network has reached 681,200 (approximately $56.875 billion), with a 24-hour increase of 3.22%. Among them, CME leads with 138,000 BTC (approximately $11.513 billion), accounting for 20.24% and a decrease of 4.76% in the last 24 hours.
- 10:28Data: BUIDL market value breaks through 2.4 billion US dollars, with over 90% share on the Ethereum chainChainCatcher reports that according to DefiLlama data, the total value locked (TVL) in BlackRock USD Institutional Digital Liquidity Fund (BlackRock BUIDL) has reached $2.425 billion, with a stable price of $1. Among them, Ethereum chain has the largest circulation volume, reaching $2.227 billion, accounting for 91.8% of the total circulation volume.