The Block
Chainalysis estimated that a French Polymarket whale made a profit of $78.7 million on U.S. election bets, primarily on a Donald Trump victory.The market resolution in favor of the French trader comes amid reports that authorities in the country are considering banning the decentralized predictions platform under its gambling laws.
Quick Take A lawsuit alleges that the memecoin HAWK acted as an unregistered security that damaged cryptocurrency investors. Twelve plaintiffs who invested in HAWK, collectively experiencing a financial loss exceeding $151,000, filed the complaint and requested a jury trial.
El Salvador agreed to limit various bitcoin-related activities in exchange for a $1.4 billion IMF loan that aims to promote fiscal and external stability.Cathie Wood-led investment firm Ark Invest sold 13,780 Coinbase shares worth $3.9 million on Wednesday as it rebalanced its Fintech Innovation fund weightings amid a sharp drop in COIN’s price.Bitcoin’s market cap recently reached 14% of gold’s, marking a new all-time high in relative valuation, according to data from Galaxy Research.The following article
Quick Take The Federal Bureau of Prisons confirmed to The Block that Caroline Ellison is in custody at the Federal Correctional Institution Danbury. Ellison was the co-CEO of Alameda Research, which was revealed to have closer than realized ties to FTX.
Quick Take Bitcoin’s price traded higher on Thursday afternoon after the Federal Reserve cut interest rates by 25 basis points to the 4.50%-4.75% range. The rate reduction comes after bitcoin reached a new all-time high of over $76,000, after Donald Trump won the U.S. presidential election.
Quick Take Dean Skurka, CEO of Toronto-based WonderFi, was kidnapped and then released after paying a $1 million ransom.
Quick Take Coinbase’s stock surged more than 30% in Wednesday’s session and a leveraged ETF tied to the stock doubled that performance. Leveraged ETFs are typically meant to be short-term plays for experienced traders because of the high risk involved.
Quick Take Sky voted to maintain the pivot away from the protocol’s original Maker brand following some backlash from community members. The rebranding is part of Rune Christensen’s Endgame strategy, which involves launching new stablecoins and establishing “subDAO” to build their own crypto apps and infrastructure.
Quick Take Detroit would become the largest U.S. city to accept cryptocurrency payments. Three U.S. states — Colorado, Utah and Louisiana — accept crypto for state payments.
Quick Take The Degen team is in disputes with the third-party service provider, Conduit, which used to launch its Layer 3 network following an allegedly unannounced upgrade that stalled the chain. Degen is looking to switch service providers but claims Conduit won’t hand over the multi-signature keys needed to migrate, a claim the company denies.
