Polymarket has filed a federal lawsuit against the state of Massachusetts, escalating a growing legal dispute over who has the power to regulate prediction markets in the United States. The company argues that once a prediction market is approved at the federal level, individual states lack the authority to impose separate restrictions. Federal Oversight and CFTC Authority At the center of the lawsuit is the claim that Congress granted exclusive regulatory authority over event-based derivatives to the Commodity Futures Trading Commission. Polymarket contends that state enforcement actions would directly conflict with federal law governing derivatives markets that operate across state…
Author: Blockto Team
Ethereum has climbed back above the $2,100 level after a sharp sell-off earlier this month, tracking a broader rebound across cryptocurrency markets and US equities. The recovery followed a steep nine-day decline that saw ETH fall to around $1,750, marking its lowest level since April 2025. While prices have staged a short-term bounce, market data suggests traders remain cautious about calling a definitive bottom. ETH Price Recovery Fails to Shift Derivatives Sentiment Despite the rebound, Ethereum derivatives markets continue to signal limited confidence. Monthly ETH futures are trading at roughly a 3% annualized premium over spot prices, below the level…
Beast Industries, the company founded by YouTube creator Jimmy “MrBeast” Donaldson, has acquired Step, a mobile banking platform designed for teenagers and young adults. The deal marks the company’s most direct move into financial services and reflects a broader effort to engage younger audiences beyond digital entertainment. Donaldson stated that the acquisition is aimed at helping young people develop financial confidence early, offering tools and education to manage money responsibly. The purchase price was not disclosed. Step’s Growth and User Base Founded in 2018, Step has grown to approximately 6.5 million users over eight years. The app offers spending accounts,…
Coinbase-backed Base App is winding down its Creator Rewards initiative as it sharpens its focus on trading and tradable assets, signaling a strategic pivot away from social features. The Creator Rewards program, launched mid-2025, was designed to encourage social engagement within the Base ecosystem by rewarding creators for activity. Over seven months, the program distributed roughly $450,000 to around 17,000 creators, with average earnings of about $26 per creator. Despite broad participation, the program failed to demonstrate strong economic impact at scale. Base leadership said that following the public launch of the app in December, it became clear the product…
BitMine Immersion Technologies has significantly expanded its Ethereum treasury, reinforcing its position as the largest corporate holder of ether. BitMine Accumulates ETH During Market Pullback The company disclosed that it acquired 40,613 ETH over the past week, bringing total holdings to 4,325,738 ETH, valued at roughly $9.2 billion at current prices. The accumulation increases BitMine’s share of the circulating ether supply to 3.58%, placing it more than two-thirds of the way toward its stated goal of controlling 5% of total ETH supply. The purchases were made while ether remains well below its 2025 peak, a period BitMine views as an…
Analysts at global brokerage firm Bernstein have doubled down on their long-term bullish outlook for Bitcoin, describing the current market pullback as the weakest bear case in the asset’s history and reiterating a $150,000 price target for 2026. Bitcoin Pullback Seen as Confidence Issue, Not Structural Damage The recent decline in Bitcoin prices reflects a temporary crisis of investor confidence rather than any fundamental flaw in the network or market structure. Unlike previous downturns, the firm notes there have been no major protocol failures, hidden leverage, large-scale liquidations, or systemic breakdowns triggering the selloff. ETFs and Corporate Adoption Strengthen the…
The plugin ecosystem of the open-source AI agent framework OpenClaw is facing a significant security threat after hundreds of malicious plugins were discovered, according to a recent cybersecurity report. Hundreds of Malicious AI Plugins Identified Blockchain security firm SlowMist revealed that attackers have been actively uploading poisoned plugins, known as “skills,” to OpenClaw’s official plugin hub, ClawHub. The firm identified 472 AI skills containing malicious code, triggering high-severity alerts through its Web3 threat intelligence system. The issue is attributed to weak or absent review processes, allowing harmful plugins to be distributed to unsuspecting users. How the Supply Chain Attack Works…
Bitcoin mining firm Cango has sold a significant portion of its Bitcoin holdings as part of a broader effort to reduce leverage and reposition its business toward artificial intelligence and high-performance computing. Cango Cuts Bitcoin Exposure to Strengthen Balance Sheet The company disclosed that it sold 4,451 Bitcoin, generating approximately $305 million in net proceeds. The funds were used primarily to partially repay a Bitcoin-backed loan and to reinforce Cango’s balance sheet amid challenging mining conditions. The decision was approved by the board following a review of market dynamics and capital requirements. Cango had already sold more Bitcoin than it…
French authorities have arrested six suspects following a failed kidnapping attempt involving a magistrate and her mother, in a case linked to a cryptocurrency ransom demand. Magistrate and Mother Escape After 30-Hour Ordeal The incident unfolded overnight in the Drôme region, where a 35-year-old magistrate and her 67-year-old mother were abducted and held in a garage for more than a day. Investigators said the kidnappers contacted the magistrate’s partner, sending a photograph of the victims along with a demand for payment in cryptocurrency. The partner was reportedly away at the time and is known to hold a senior role at…
Ethereum co-founder Vitalik Buterin has reignited debate around what qualifies as genuine decentralized finance, arguing that many popular yield-based stablecoin strategies miss DeFi’s core purpose. DeFi Should Redesign Risk, Not Just Chase Yield In recent comments, Buterin emphasized that the real value of DeFi lies in how it redistributes and decentralizes financial risk. According to him, stablecoin products that simply generate yield on centralized fiat-backed assets do little to change the underlying risk structure. These models often remain dependent on centralized issuers and custodians, leaving users exposed to the same counterparty risks DeFi was meant to reduce. He specifically criticized…