Tag: CRYPTOS FoxBusiness

The committee said Monday that it has since received nearly 1,000 documents and five briefings from representatives of Polymarket and Kalshi as it continues examining whether prediction markets have adequate safeguards against traders using sensitive information.

The latest letters extend that scrutiny beyond dedicated prediction market platforms.

For Hyperliquid, lawmakers specifically pointed to a large leveraged crypto short opened before President Donald Trump announced new China tariffs in October 2025. Public blockchain data showed a trader opened roughly $1.1 billion in leveraged Bitcoin and Ether shorts about 30 hours before the announcement and later closed the positions for more than $150 million in profit.

The committee cited the timing as one transaction it wants Hyperliquid to address; it has not established that the trader possessed nonpublic government information.

Comer is asking Hyperliquid for records describing its identity verification procedures, geographic controls and systems for flagging anomalous trades. The committee also wants information on suspicious trading tied to Federal Reserve decisions, elections and geopolitical events.

Crypto.com received a similar request covering its international platform and Crypto.com Derivatives North America. Lawmakers are seeking records on KYC procedures, suspicious activity referrals and internal restrictions designed to prevent employees with confidential information from trading related event contracts.

The committee also sent a request involving PredictIt and Aristotle-related entities, seeking details on identity verification, suspicious trading controls and political event contracts. PredictIt operates political prediction markets under a separate CFTC no-action framework. Aristotle’s exchange entities were acquired by Underdog earlier this year.

The broader inquiry follows several cases that have intensified concerns about the use of privileged information on prediction markets.

In April, federal prosecutors charged U.S. Army Master Sergeant Gannon Ken Van Dyke with allegedly using classified information about the military operation that led to Nicolás Maduro’s removal from power to make roughly $400,000 in prediction market profits on Polymarket. The charges remain allegations, and the case has not resulted in a conviction.

A month later, prosecutors separately charged a Google engineer with allegedly using confidential company data to make about $1.2 million through Polymarket wagers. Polymarket cooperated with authorities in that investigation.

Prediction markets have also been drawing greater scrutiny as they expand into politics, sports, equities and other financial events. The CFTC regulates federally registered event-contract venues, while lawmakers, state regulators and the SEC continue debating where parts of the rapidly growing sector fit within existing financial and gambling rules.

Chainlink is working on a solution that will allow financial institutions to connect their systems and signing infrastructure to SWIFT’s blockchain ledger through the Chainlink platform. Chainlink provides blockchain infrastructure and data services, while SWIFT is a global financial messaging network.

The solution uses the Chainlink Runtime Environment (CRE) to connect banks to SWIFT’s ledger and manage smart-contract workflows. Banks will keep control of the keys used to approve transactions, while CRE will coordinate operations between their own ledgers and the SWIFT ledger.

This setup is designed to support 24/7 payment workflows using tokenized bank deposits. The deposits remain on bank-owned ledgers, while SWIFT’s ledger coordinates the movement of funds between participating institutions, including outside normal banking hours.

Shevchenko framed the blocked figure against the service’s ordinary business. $NEAR routinely processes more than $100 million in daily volume, he noted, and the refusals were a negligible fraction of it. The screening did not cost the business its flow.

Cross-chain infrastructure has long been treated as structurally unable to stop stolen funds, with no operator to call and no account to freeze. The Bitget flows show the constraint is a choice. A service that takes custody mid-swap, even briefly, can screen at that moment, and whether it does is a business decision rather than a technical limit.

Permissionless, with boundaries

$NEAR markets itself as permissionless, open and uncensorable, and a service that can freeze funds halfway through a swap is doing something most people would call permissioned. Vini Barbosa, a technical writer building at Ramp Labs, wrote on X that permissionless has to mean neutral, and that a rail willing to restrict suspected unlawful users will also restrict people moving money under repressive governments.

Cofounder Illia Polosukhin answered in narrower terms: permissionless means nobody needs permission to own assets, transfer them or deploy contracts. Shevchenko’s phrasing concedes the gap between the two positions. The service will remain “permissionless infrastructure, but with boundaries.”

Institutional users, the buyers every infrastructure provider is now chasing, generally prefer a rail that screens. THORChain argued the other position in public. “A halt is not a selective freeze of specific funds or an individual swap,” the protocol wrote on X. “THORChain is permissionless and doesn’t censor by design.” It asked what responsibility Bitcoin, Ethereum and BNB Chain bear when stolen funds move across them, and noted that the addresses that took $10.7 million from its own vaults in May were never blacklisted either. The answer was the same after the $1.5 billion Bybit theft last year.

While champions of decentralization support the decision, key names from the broader industry has pushed back. Bitget CEO Gracy Chen, whose request THORChain declined, wrote that decentralization “is a design principle, not a shield for facilitating known stolen funds.” OKX founder Star Xu disputed the Bitcoin comparison from the other direction: THORChain’s validators jointly control the assets in its vaults, which makes the network an intermediary rather than a base layer, and the same node operators halted it for 39 days in May when its own vaults were at stake.

At a third layer sit the stablecoin issuers. Circle and Tether froze about $320,000 in USDC and USDT linked to the Bitget breach, a rounding error against the total loss but a reminder that issuer-level freezing remains the most reliable circuit breaker in crypto, because it operates on the asset rather than the application.

The frozen $503,000 has no owner of record

$NEAR is holding the intercepted $503,000 pending a legal and recovery process, and has waived any recovery bounty Bitget offered. Formal requests route through a Kodex law-enforcement portal, the channel where Bitget or investigators would formally claim the funds. Shevchenko’s report does not name who can authorize a release, and it describes no process for a wrongly flagged user to get money back. The screening that produced the freeze operates on estimates with a stated error margin of 10%.

A screen that halts a legitimate transfer, with no published release authority and no remedy, is a service holding someone’s money on suspicion. The securities and payments industries resolved that problem with defined processes, because holding funds without one is a liability in almost every jurisdiction. Crypto’s screening layer has reached the same point without the process.

The first dispute over the $503,000 will test whether the release of those funds follows a rule anyone can see.

Solana has continued to maintain a strong ascending structure, forming a series of higher highs and lows. After recovering from its June lows, the rally has gained strong momentum and has been defending the broader uptrend even in times of short-term correction. With the $SOL price now trading around $119, the latest price action suggests that momentum remains bullish, although the rally is beginning to show signs of slowing near resistance. A short-term pullback may drag the levels lower, but a rise beyond $125 appears to be imminent.

Solana Price Faces a Key Resistance

Following a recovery from levels around $65, the $SOL price has been rising consistently, with the lower trendline providing dynamic support. The latest advance pushed $SOL toward the upper boundary of the broader ascending structure. The price is currently trading close to $120 after facing a rejection from the intraday highs. The chart is currently showing signs of hesitation near the resistance, while the upper trendline is currently positioned around the $127 to $128 region, which is an important area for a potential breakout.

Token Metrics

Currently, the overall market context reveals mixed momentum across major cryptocurrencies. However, the specific growth of euro stablecoins signals a burgeoning area of interest for both institutional and retail investors. As these issuers solidify their positions, the potential for euro stablecoins to influence lending markets and DeFi platforms becomes increasingly apparent.

Euro stablecoins are digital currencies pegged to the euro, designed to provide stability in the volatile crypto market. With institutions like Circle, Societe Generale, and Credit Agricole actively participating, these stablecoins present alternatives for users seeking to engage in digital finance without exposure to fiat currency fluctuations.

What to Watch

Traders should watch for continued developments in the euro stablecoin sector, particularly how these assets integrate into lending markets and DeFi. With Circle leading, potential regulatory changes could further shape market dynamics, making it essential to monitor any shifts in issuer strategies or market responses to economic conditions.

This article is for informational purposes only and does not constitute financial advice.

What the Data Shows

As the total market cap of euro stablecoins exceeds $900 million, Ethereum’s significant share showcases its resilience against growing competition. The recent performance reflects a shift in the stablecoin landscape, with Solana and Base also gaining traction. The broader cryptocurrency market is currently mixed, indicating a complex trading environment that could affect the future dynamics of these stablecoins.

Ethereum is a leading blockchain platform that enables the creation and transfer of digital assets. Its jurisdiction in the stablecoin market is influenced by its established infrastructure and widespread use among developers and users. The rise of euro stablecoins positions Ethereum favorably as a critical player in the evolving landscape of digital currencies.

What to Watch

Traders should keep a close watch on the evolving dynamics of the euro stablecoin market, particularly regarding Ethereum’s ability to maintain its dominance. As competition from Solana and Base intensifies, significant price movements could occur, impacting market sentiment. The continued adoption of euro stablecoins across various chains will be crucial for understanding future trends in this segment.

This article is for informational purposes only and should not be considered financial advice.

Key Indicator for Altcoins Rises by 45%!

According to the analyst’s assessment, the Total2 indicator, which tracks altcoin market capitalization including Ethereum, has attracted over $371 billion in inflows since June 2026. During this period, the indicator is said to have risen by approximately 45 percent.

The expansion driven by capital inflows into the altcoin market is also reflected in the long-term trend indicators of altcoins. In this regard, the analyst noted that while approximately 80% of altcoins listed on Binance in August were trading below the 200-day moving average, this figure has dropped to 13% following the recent surge.

However, approximately 87% of altcoins have risen above the 200-day moving average. The analyst noted that this shift indicates a strong surge in market enthusiasm, but cautioned that such broad-based movements historically do not last forever.

“…While 80% of altcoins on Binance traded below this level in August, today only 13% remain below it.”

This means that 87% of the altcoins on the platform have reversed their previous trends and entered an upward momentum. This shift indicates a kind of euphoria prevailing among altcoins. Historically, this type of dynamic is not sustainable and eventually loses momentum.”

Altcoin Transfers to Exchanges Increased!

The analyst noted that while altcoins are expanding, there’s also been an increase in transfers of altcoins to centralized exchanges. He highlighted this as another notable development, stating that the weekly average of altcoin deposits has surpassed 22,700 on Binance and 8,300 on Coinbase. Approximately 32,000 transactions were recorded on other exchanges.

According to the analyst, these levels of altcoin deposits to exchanges mark the highest levels seen since the previous market peak in October 2025.

Downward Divergence in RSI!

One of the most important warnings in the analysis is the bearish divergence in the Total2 RSI indicator. According to the analyst, this technical outlook suggests that while the price continues to rise, the momentum indicator is not strengthening to the same extent.

The analyst notes that the coincidence of increased altcoin transfers to exchanges and this divergence in the RSI is a situation that needs to be closely monitored. According to the analyst, while on-chain data shows that the altcoin rally is continuing, the increased transfers and the divergence in the RSI indicate that the upward momentum may be starting to weaken.

*This is not investment advice.

The pressure on the market stems more from global risks than from developments specific to the crypto sector. Brent crude oil prices approached $108 per barrel after Iran refused to soften its demands regarding the Strait of Hormuz and negotiations failed to make progress. Rising energy prices have reinforced expectations that inflation could accelerate again and that the US Federal Reserve may raise interest rates.

As the US five-year Treasury yield rose to 5.06%, Nasdaq 100 futures, heavily weighted towards technology stocks, also declined. In this environment, investors began reducing their leveraged crypto positions. It was reported that over $500 million in positions were liquidated in the market.

Profit-taking following the previous four-day rally also contributed to Bitcoin’s decline. The US PCE inflation data, job openings, and non-farm payrolls report will be closely watched for market direction. Better-than-expected data could increase pressure on interest rates, while weaker results could lessen macroeconomic pressure on Bitcoin.

*This is not investment advice.