Core Viewpoint - A change in U.S. tax rules under President Trump's One Big Beautiful Bill Act may redirect speculative activities towards blockchain-based prediction markets, as outlined in Coinbase Institutional's Crypto Market Outlook 2026 [1] Tax Implications - Starting in 2026, a provision will limit the deduction for gambling losses against winnings, impacting gamblers across various platforms such as sportsbooks and poker [2][1] - This tax change will result in taxation on gambling wins that do not reflect actual profits, creating a potential disadvantage for traditional gambling activities [2] Prediction Markets - Prediction markets, which operate similarly to derivatives, could become a more tax-advantageous alternative to traditional sportsbooks and casinos under the new tax regime [3][1] - Coinbase anticipates that these markets will play a significant role in the onchain economy, with notional trading volume expected to increase sharply in 2025 [4] Market Development - The prediction market sector is currently fragmented, with many independent protocols lacking shared standards [5] - The emergence of prediction market aggregators is expected as a crucial step towards the maturation of the sector, consolidating odds and liquidity across different platforms [5] - Despite regulatory uncertainties, the demand for decentralized and censorship-resistant forecasting tools is projected to grow [5]

Core Insights - State Street Investment Management and Galaxy Asset Management are launching the State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP) on December 10, with a $200 million seed investment from Ondo Finance [1][2]. Group 1: Fund Overview - SWEEP will leverage State Street's expertise in cash and liquidity management alongside Galaxy Digital's knowledge in tokenization and digital infrastructure to provide an onchain cash management solution [2]. - The fund will utilize PayPal USD (PYUSD) stablecoins for subscriptions and redemptions, enabling 24/7 onchain liquidity [2]. Group 2: Technical and Operational Aspects - Galaxy plans to implement Chainlink for cross-chain interoperability, allowing SWEEP tokens to move across different blockchain networks [3]. - The fund is expected to launch on the Solana blockchain in early 2026 and aims to integrate with other networks such as Stellar and Ethereum [3]. Group 3: Industry Impact and Statements - Ondo Finance President Ian De Bode emphasized that tokenization is bridging traditional finance and the onchain economy, with SWEEP marking significant progress in this evolution [4]. - State Street's Kim Hochfeld noted that the partnership with Galaxy aims to advance the traditional finance landscape onchain [4]. - Galaxy's Steve Kurz described SWEEP as a transformative collaboration that will provide digital investors with a new onchain liquidity fund option [4].

Onchain Economy - A multi-currency onchain economy is emerging [1] - The growing adoption of tokenized euros is observed [1] Tokenized Currencies - Tokenized non-USD currencies are being launched [1] - The Japanese yen (@jpy_coin) has been deployed on Ethereum, Avalanche, and Polygon [1]

In Defense of Exponentials@gluk64 presenting the Incorruptible Finance thesis, on the recent @Blockworks_ Space, where the global Economy moves onchain and every business, just as with a bank account, will have its own Prividium seamlessly interacting with other Prividiums. ...

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RWA (Real World Assets) Discussion - BNB Chain is hosting an X Space to discuss RWAs and their impact on the onchain economy [1] - The discussion aims to explore how RWAs are shaping the onchain economy and creating new value for users [1] - The X Space event includes participation from Chainlink, Ondo Finance, and Securitize [1] Event Details - The live event is scheduled to start in 1 hour [1] - The X Space event is scheduled for November 13th, 1 PM UTC [1]

Core Insights - Coinbase has made a new investment in CoinDCX, one of India's largest cryptocurrency exchanges, as part of its strategy to expand in India and the Middle East [1][2] - The investment reflects Coinbase's confidence in the growing adoption of digital assets in these regions, with over 100 million people now holding crypto assets [2][4] - CoinDCX has reported significant financial metrics, including annualized revenue of ₹1,179 crore (approximately $141 million) and total transaction volumes of ₹13.7 lakh crore (around $165 billion) as of July 2025 [3] Company Developments - The investment builds on Coinbase's previous support through Coinbase Ventures, indicating a long-term commitment to CoinDCX's growth [2][4] - Shan Aggarwal from Coinbase highlighted the firm's confidence in CoinDCX's leadership and business model, although the transaction is pending regulatory approval [4] - Sumit Gupta, CEO of CoinDCX, expressed gratitude for Brian Armstrong's trust and emphasized the importance of building the company with integrity [6] Market Context - India and the Middle East are emerging as key markets for cryptocurrency adoption, driven by large populations and a growing interest in digital finance [5] - The presence of major exchanges like Coinbase and local startups leveraging blockchain technology for payments and financial inclusion underscores the region's potential [5]

Partnerships - Riverdot Inc 与 Base 合作，通过链抽象稳定币系统推进全球链上经济 [1]

Core Insights - Eyenovia, Inc. has launched a co-branded Hyperliquid validator in collaboration with Kinetiq, marking a significant advancement in its onchain engagement strategy [1][2][3] - The validator initiative is part of Eyenovia's strategy to actively engage with ecosystem projects, potentially allowing investors to benefit from both asset performance and strategic participation [5] - Eyenovia has acquired 1,040,584.5 HYPE tokens to support network stability and security through validator operations [2][4] Company Overview - Eyenovia is a pioneering digital ophthalmic technology company and the first publicly listed U.S. company to build a strategic treasury of Hyperliquid's native token, HYPE [8] - The company is also developing the Optejet User Filled Device (UFD) for topical ophthalmic treatments, which aims to improve patient compliance and treatment outcomes [9] Hyperliquid Platform and HYPE Token - Hyperliquid is a layer one blockchain optimized for high-frequency trading, featuring onchain perpetual futures and spot order books with 70 millisecond block times [6] - HYPE, the native token of Hyperliquid, provides utility through reduced trading fees and has become the 12th-largest cryptocurrency by market capitalization, with over 25 million HYPE sequestered as of June 2025 [7]