Core Viewpoint - The article highlights the risks associated with high-yield virtual currency investments, revealing common scams and the need for increased public awareness and regulatory scrutiny [1][4]. Group 1: Investment Risks - A recent court case in Shanghai involved a high-yield promise of 292% annual returns from a virtual currency investment platform, which turned out to be a scam [3]. - The investor was initially lured by a guarantee of returns and fake profit feedback, leading to significant financial losses when the platform ceased operations [3][9]. - Various scams involve creating fake trading platforms, misleading price data, and emotional manipulation to entice victims into investing [9][10]. Group 2: Regulatory Environment - Regulatory bodies have consistently emphasized that virtual currencies should not be treated as legal tender and that related activities are illegal financial operations [12][14]. - The Chinese government has a history of strict regulations against virtual currencies, dating back to 2013, with ongoing efforts to combat illegal activities associated with them [12][13]. - Recent warnings from regulatory authorities highlight the risks of new concepts like stablecoins and the need for public vigilance against fraudulent schemes [13][14].

Company Overview - Shayne Coplan, founder of Polymarket, briefly became the world's youngest self-made billionaire at age 27 in October 2023, emphasizing that success takes time and effort [1] - Polymarket is a blockchain-based prediction market platform that gained mainstream success in 2024, particularly during the U.S. presidential election, attracting billions in trading volume and outperforming traditional polls [4] Investment and Valuation - In October 2023, the Intercontinental Exchange, parent company of the New York Stock Exchange, announced a $2 billion investment in Polymarket, which valued the platform at $9 billion post-money [5] - This investment contributed to Coplan's net worth reaching $1 billion, as reported by Forbes [6] Historical Context - Coplan's journey began at age 14 when he emailed the SEC about his plans to create an electronic communication network-based stock exchange [2] - After a brief stint studying computer science at NYU, Coplan dropped out in 2017 to pursue various cryptocurrency projects, which were unsuccessful [3]

State Street and Galaxy Asset Management plan to launch a tokenized liquidity fund in early 2026 that uses stablecoins for around-the-clock investor flows, expanding the use of public blockchains in institutional cash management, the companies announced Wednesday. The State Street Galaxy Onchain Liquidity Sweep Fund, or SWEEP, will accept subscriptions and redemptions in PYUSD, a stablecoin issued by Paxos, so long as the fund has assets on hand to process requests. Only Qualified Purchasers who meet set ...

The Commodity Futures Trading Commission has announced the initial names as it stands up its CEO Innovation Council meant to delve into derivatives market-structure developments, especially around tokenization, crypto and blockchain technology. Prominent crypto-sector CEO names such as Gemini's Tyler Winklevoss, Kraken's Arjun Sethi and Polymarket's Shayne Coplan will join chief executives from such mainstay firms as CME Group, Nasdaq, Intercontinental Exchange and Cboe Group. "I am grateful to the CEOs ...

Roth Capital, which has its own ties to the Trump family's business interests, initiates coverage of American Bitcoin with a Buy rating. ...

Gemini, the crypto platform founded by billionaire twins Tyler and Cameron Winklevoss, said on Wednesday it had received a license from the Commodity Futures Trading Commission to offer prediction mar... ...

Though the crypto market has so far failed to recover from the shock of the October crash, a leading analyst thinks the current setup looks bullish for a Santa Claus rally. A widely believed phenomenon in traditional markets, a Santa Claus rally is a calendar effect in which stock prices rise during the last five trading days in December around Christmas and the first two trading days in the following January. The phenomenon, driven by year-end optimism and portfolio rebalancing, is also extended to the ...

Core Viewpoint - Gemini Space Station, Inc. has received a Designated Contract Market license from the CFTC, enabling it to offer prediction markets to U.S. customers, marking a significant step in its growth and alignment with pro-crypto regulatory changes under the current administration [1][2]. Group 1: Licensing and Regulatory Changes - Gemini first applied for the DCM license on March 10, 2020, and the approval represents the culmination of a 5-year licensing process [2]. - The approval is seen as a shift towards a more pro-crypto regulatory environment, with Acting Chairman Pham being recognized for her support of innovation in the financial sector [3]. Group 2: Prediction Markets Introduction - Gemini Titan plans to introduce prediction markets by offering event contracts that pose simple yes or no questions regarding future events, such as the price of Bitcoin or corporate fines [2]. - The prediction markets are expected to leverage crowd wisdom to forecast future events more accurately, rewarding participants for their insights [5]. Group 3: Future Expansion Plans - Gemini Titan intends to explore expanding its derivatives offerings to include crypto futures, options, and perpetual contracts, which have gained popularity in non-U.S. markets [4]. - The company aims to build a comprehensive financial super app for customers, integrating various financial services [5]. Group 4: Company Background - Gemini was founded in 2014 by Cameron and Tyler Winklevoss and operates as a global crypto platform, offering a wide range of products and services in over 60 countries [7].

Core Insights - The long-delayed crypto market-structure bill is nearing completion, with bipartisan negotiations accelerating and a draft expected by the end of the week [2][3] - The Senate is working on two parallel drafts, one focusing on oversight division between the SEC and CFTC, and the other expanding CFTC's authority [4] Group 1: Legislative Progress - Senators Kirsten Gillibrand and Cynthia Lummis reported productive bipartisan sessions, indicating that "nothing is holding up this bill" [2] - The momentum for a federal market-structure framework has increased since the House passed the Digital Asset Market Clarity Act in July [2] Group 2: Regulatory Framework - One proposal introduces the term "ancillary assets" to clarify which cryptocurrencies are not treated as securities, dividing oversight between the SEC and CFTC [4] - The Senate draft aims to address issues not covered by the House bill, including regulations for decentralized finance exchanges [5] Group 3: Ethics Considerations - An ethics proposal negotiated by Lummis and Sen. Ruben Gallego would restrict elected officials and their families from profiting from digital assets while in office, but the White House rejected this language [6] - The political sensitivity around ethics rules has increased due to reports of President Trump's family generating significant income from ventures linked to a DeFi and stablecoin platform [7]

Today, crypto investors react to the Fed's last meeting in 2025. The CFTC pilots crypto as collateral for derivatives markets. And Marco Santory of Soulmate discusses the company's merger with web 3 VC firm Rockway X.Welcome to CNBC's Crypto World. I'm Mackenzie Sagal. Digital currencies are mixed today after rising sharply in the previous day's trading.By 2:15 Eastern, investors were looking to make sense of the Federal Reserve's final meeting in 2025. The central bank chose to cut the Fed funds rate amid ...