Core Insights - Bitget, the world's largest Universal Exchange, achieved over $88 million in trading volume for Ondo tokenized stocks in the first week of December, capturing approximately 73% of the total market share during this period [2][3] - The surge in trading volume follows strategic upgrades to Bitget's on-chain infrastructure, including the migration of tokenized stock tokens to BNB Smart Chain, which enhanced transaction efficiency and scalability [3] - Ondo tokenized stocks provide blockchain-native exposure to traditional equities, offering benefits such as crypto-grade liquidity and faster settlement [4] Company Developments - Bitget's recent performance reinforces its vision of a Universal Exchange that integrates crypto, tokenized equities, and real-world assets, indicating a growing trend of traders incorporating these products into their strategies [5] - The platform serves over 120 million users and offers access to millions of crypto tokens, tokenized stocks, and other assets, emphasizing its commitment to smarter trading through AI-powered tools [6] - Bitget is actively driving crypto adoption through strategic partnerships, including its role as the Official Crypto Partner of LALIGA and collaboration with UNICEF for blockchain education [7]

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Cryptocurrency exchange Binance recently announced the biggest shake-up to its leadership structure since Richard Teng succeeded Changpeng Zhao as CEO last year. Teng on Dec. 3 announced that Binance co-founder and Chief Customer Service Officer Yi He assumed the role of co-CEO of the world’s largest cryptocurrency exchange by volume. While Yi He has been with Binance from the beginning, she has largely ...

Core Insights - Coinbase is set to launch a prediction market and tokenized equities on December 17, marking a significant expansion into new financial products [1] - The prediction market sector is experiencing increased adoption, with trading volume reaching $28 billion year-to-date through October, and studies indicating these markets outperform traditional polling by approximately 30% [2] - The U.S. predictive analytics industry is valued at around $14 billion and is projected to grow to $32.85 billion by 2030 [2] Industry Developments - Competitors like Gemini and Crypto.com are also enhancing their offerings in the prediction market space, with Gemini receiving approval to introduce its own prediction markets [3] - The leading platform Polymarket was previously forced out of the market in 2022 but has been approved to return following the acquisition of a regulated exchange [4] - State regulators are increasingly scrutinizing prediction markets, with the Washington State Gambling Commission recently declaring them an "unauthorized activity" [5] Regulatory Environment - Federal lawmakers are targeting political betting, a popular segment within prediction markets, with proposed legislation like the Ban Gambling on Elections Act introduced amid significant wagering on the 2024 election [6] - Concerns have been raised about the potential for corruption and the undermining of democratic processes due to election betting, with some countries already prohibiting such activities [7] - Polymarket has faced allegations of inflated trading volumes due to wash trading, with estimates suggesting that up to 25% of trades may be artificial [7]

Core Insights - Bybit has launched BYUSDT, a proprietary token that allows users to tokenize their USDT Flexible Easy Earn balances for margin trading while still earning daily yield [1][2] Group 1: Product Features - BYUSDT enables Bybit VIP account holders to tokenize their staked USDT for 1:1 margin trading, allowing seamless swaps between BYUSDT and USDT Flexible Easy Earn accounts without fees [2] - The token accrues rewards hourly with daily payouts, enhancing the user experience [2] - Bybit's offering is unique in the centralized exchange space, as it integrates directly with the platform's staking rewards program [3] Group 2: Competitive Landscape - While similar products exist, such as those from Derebit and Kraken, Bybit's approach combines margin trading with a comprehensive rewards platform, unlike Kraken which limits margin trading to specific rewards [4][5] - Bybit's capital efficiency allows users to earn yields on staked USDT while maintaining liquidity for trading, addressing a common dilemma faced by traders [5] Group 3: Strategic Partnerships - Bybit is focusing on the stablecoin market, particularly through its partnership with Circle to enhance USDC liquidity across various markets and services [6][7] - The partnership aims to improve fiat-to-crypto on/off-ramps and expand USDC integration within Bybit's ecosystem, including services like Bybit Card and Bybit Earn [7]

Core Insights - The article discusses the latest trends and developments in the investment banking sector, highlighting key financial metrics and market movements. Group 1: Industry Trends - Investment banking is experiencing a shift towards digital transformation, with firms increasingly adopting technology to enhance efficiency and client engagement [1] - The market for mergers and acquisitions (M&A) remains robust, with a notable increase in deal volume compared to previous years, indicating strong investor confidence [1] - Regulatory changes are impacting the industry, with new compliance requirements affecting operational strategies and cost structures for investment banks [1] Group 2: Company Performance - Major investment banks reported a collective revenue increase of 15% year-over-year, driven by strong trading performance and advisory fees [1] - Cost management remains a focus, with firms implementing measures to reduce operational expenses while maintaining service quality [1] - The competitive landscape is intensifying, with boutique firms gaining market share by offering specialized services and personalized client experiences [1]

Core Insights - Coinbase Global Inc. is set to launch prediction markets and tokenized equities, indicating a strategic move to diversify its offerings amid a challenging trading environment [1][2] - The company is developing these features in-house, without external partnerships, and has teased a livestream event for users [2] - The prediction markets segment is becoming increasingly competitive, with other platforms like Kalshi and Polymarket seeing significant growth in trading volumes [3][4] Company Developments - Coinbase is reportedly working on its tokenized equities offering internally, which suggests a focus on enhancing its product suite without relying on third-party collaborations [2] - Screenshots of early versions of the new features have circulated, generating anticipation ahead of the planned livestream [2] Industry Trends - The cryptocurrency trading landscape is evolving, with exchanges like Gemini and Crypto.com also expanding into prediction markets and event-based contracts [4][5] - The push into new revenue streams reflects a broader trend of exchanges seeking to adapt to fee compression and increased regulatory scrutiny [5] Stock Performance - Coinbase's stock (COIN) closed down 2.21% at $269, with a slight premarket bounce of about 0.5% [9] - The stock is attempting to stabilize above the $264 support level, which has been tested multiple times [10] - Despite some support, the overall market structure remains bearish, with COIN trading below key moving averages [11][12] Technical Analysis - Key resistance levels for COIN are identified at $275.88 and a breakout zone between $292 and $303, with Fibonacci targets above that range at $284, $301, and $318 [14][15] - Momentum indicators suggest a neutral market sentiment, with the RSI around 44, indicating a slight bearish tilt [16] - A sustained move above $275 would signal a potential shift in buyer control, while a break above $292 is necessary to challenge the prevailing downtrend [18][19]

Core Insights - The company is exploring the integration of prediction markets and tokenization as a new asset class, aiming to democratize investment opportunities for individual investors similar to hedge funds [1][2] - The company has recently crossed approximately $14 billion in transactional volume, indicating significant growth and adoption of its tokenization services [3] - The company has confidentially filed for an IPO in the United States, emphasizing a focus on building a durable and transparent business rather than rushing to market [6][7] Group 1: Tokenization and Market Strategy - Tokenization is viewed as a restructuring of global market architecture, allowing for 24/7 trading across various asset classes including fixed income, commodities, and equities [3] - The company aims to provide infrastructure for tokenized equities that is accessible not only on its platform but also on competitor exchanges and decentralized platforms [3][4] - The proliferation of stablecoins is attributed to their massive distribution and increased access to capital, which enables the development of more financial products [5] Group 2: IPO Plans and Market Conditions - The company has filed for an IPO but is not in a rush to complete it, considering the current volatility in the crypto market [6][7] - The decision on the timing of the IPO will depend on market conditions and the company's long-term goals [7]

Coinbase plans to roll out prediction markets and tokenized equities, moving into two of the fastest-growing corners of digital finance as it prepares a product showcase next week. Bloomberg reported Friday that the the US-based exchange will announce the new offerings at an event on Dec. 17, a source told the outlet, adding that Coinbase intends to issue tokenized stocks in-house rather than through external partners. Executives at Coinbase have previously signalled interest in both businesses, but unt ...

Core Viewpoint - Gemini Space Station's stock surged by over 30% following the approval of a license to launch prediction markets in the U.S. [1] Company Developments - The Commodity Futures Trading Commission (CFTC) granted Gemini Titan, an affiliate of Gemini, a Designated Contract Market (DCM) license, allowing it to offer event contracts to U.S. customers via its website and mobile app [3]. - Event contracts will include simple "yes" or "no" questions regarding future events, such as Bitcoin price predictions and outcomes in elections, sports, and geopolitical events [4]. Industry Insights - The prediction markets industry is experiencing rapid growth, with weekly trading volumes exceeding $2 billion for the first time in October [6]. - Industry leaders, including Thomas Peterffy of Interactive Brokers Group, predict that the event-contracts market could surpass the stock market in size within the next 15 years [6][7]. - Gemini's president, Cameron Winklevoss, believes that prediction markets could become as significant as traditional capital markets [7]. - The company aims to aggressively pursue the profit opportunities presented by prediction markets [8].

Group 1: dYdX's Expansion and Product Launch - dYdX, one of the largest decentralized exchanges, is launching its first-ever spot trading product, aiming to expand its presence in the Solana ecosystem and increase its user base [1][2] - The exchange has surpassed $1.5 trillion in cumulative trading volume and is positioning spot trading as a key entry point to access the US market amid a more favorable regulatory environment [2] - To attract new users, particularly in the US, dYdX is waiving trading fees for December [2] Group 2: Market Strategy and Alignment - dYdX's expansion aligns with its strategy to enhance market depth and deploy advanced trading tools while maintaining transparency and self-custody standards [3] - The move is in line with centralized exchange Robinhood, which has also announced new product launches for US residents recently [3] Group 3: Solana Market Dynamics - Solana's derivatives positioning is predominantly bearish, with long positions dropping to $692 million while short positions remain above $1 billion [4] - The $147 level is identified as a significant liquidity pocket, with $667 million positioned there, which could trigger a rally if surpassed [5] - If the market extends its correction, the next support level to watch is $125, with potential declines toward the $100 psychological zone if that support fails [6]