Singapore-based Crypto.com is looking to hire a new employee to work on a market-making team for sports prediction markets. In other words, this employee will face off against customers on the company’s prediction market exchange. On this premise, the cryptocurrency exchange has published a job listing to fill the position. Quant Trader to Join Crypto.com’s Internal Market Making Team Crypto.com has posted a job listing for a “quant trader” who will join its internal market-making team for sports predic ...

Core Insights - OKX, a cryptocurrency exchange, reported a 53-fold increase in trading volume in regulated markets by 2025, driven by its entry into the U.S. market and expansion in the European Economic Area (EEA) [1] Group 1: Market Performance - The number of daily active wallets on the platform doubled over the past year [1] - The average daily addition of new wallets is approximately 190,000 [1] - Decentralized exchange (DEX) trading volume globally increased by 262% [1] - Centralized exchange (CEX) trading volume grew by 16% [1]

Group 1 - Coinbase announced the acquisition of the prediction market startup The Clearing Company, marking its tenth acquisition this year to expand beyond its core digital asset business [1] - The company did not disclose the terms of the transaction, which is expected to be completed in January [1]

Core Insights - Coinbase is expanding its prediction markets business by acquiring The Clearing Company, enhancing its capabilities in this emerging sector [2][3] - The acquisition aligns with Coinbase's strategy to offer a comprehensive trading platform, referred to as the "Everything Exchange," allowing users to trade across various asset classes [3] - The partnership with Kalshi is integral to Coinbase's new offering, aiming to provide seamless access to prediction markets alongside traditional financial instruments [2] Company Developments - The Clearing Company, led by founder Toni Gemayel, is recognized for its significant contributions to the prediction markets landscape [3] - Coinbase has initiated legal action against states like Connecticut, Michigan, and Illinois, asserting that prediction markets should be regulated by the Commodity Futures Trading Commission (CFTC) rather than state gaming regulators [4][5] - The legal dispute highlights the ongoing tension between federal and state regulators regarding the classification and regulation of prediction markets [5] Industry Context - The prediction markets industry is experiencing rapid growth, with total trading volumes surpassing $28 billion globally in 2025 and weekly peaks reaching $2 billion [6] - Kalshi, the largest market in this space, is valued at $11 billion, indicating significant investor interest and potential in the prediction markets sector [6]

Core Viewpoint - Coinbase is expanding its business by acquiring The Clearing Company, a prediction markets startup, marking its tenth acquisition this year as it seeks to diversify beyond its core digital assets operations [1]. Group 1: Acquisition Details - The acquisition of The Clearing Company is part of Coinbase's strategy to broaden its product offerings and enhance user engagement [5]. - The deal is expected to close in January, but Coinbase has not disclosed the financial terms of the transaction [5]. Group 2: Market Context - Prediction markets allow users to trade contracts based on real-world event outcomes, which can provide a more accurate reflection of collective expectations compared to traditional polls [2]. - The popularity of prediction markets has surged during the 2024 U.S. presidential race, attracting significant interest and investment from various sectors of the financial ecosystem [2]. Group 3: Competitive Landscape - Analysts suggest that expanding into prediction markets could help Coinbase reduce its reliance on crypto trading amid increasing competition in the market [3]. - Coinbase's recent initiatives, including the launch of its prediction markets platform and plans to allow stock trading, position it as a competitor to traditional brokerages like Robinhood and Interactive Brokers [4]. Group 4: Financial Performance - Coinbase's notable acquisitions this year include the $2.9 billion purchase of derivatives exchange Deribit in May and a $375 million deal for investment platform Echo in October [6]. - Following the announcement of the acquisition, Coinbase's shares rose by 2.6% in afternoon trading [6].

Core Insights - Coinbase is acquiring The Clearing Company to enhance its newly launched prediction market, aiming to become an all-in-one trading platform [1][4] - The prediction market is gaining traction, with weekly notional volume exceeding $4 billion [2] - The acquisition will bring in a team experienced in event-based trading systems, including veterans from Polymarket and a former chief compliance officer at Kalshi [3] Group 1: Acquisition Details - The transaction is expected to close in January, with undisclosed terms [1][2] - The Clearing Company raised $15 million in a seed round led by Union Square Ventures, with participation from Coinbase Ventures [4] Group 2: Market Context - Coinbase has started allowing users to trade on real-world event outcomes, including political elections and sports [2][3] - Competitors like Robinhood, Kraken, and Gemini are also launching equity trading and prediction markets [4] Group 3: Strategic Positioning - Coinbase is positioning itself as the "Everything Exchange" by expanding its platform to include cryptocurrencies, perpetual futures contracts, stocks, and prediction markets [3][4]

Group 1 - Coinbase announced the acquisition of prediction markets startup The Clearing Company [1] - This move indicates Coinbase's strategy to expand beyond its core digital assets business [1]

Group 1 - Coinbase Global (COIN) has agreed to acquire prediction markets startup The Clearing Company [4] - The acquisition is part of Coinbase's strategy to enable users to trade on the outcomes of real-world events [4] - The deal is expected to close in January [4]

Core Insights - CME has lost its position as the leading exchange for bitcoin futures open interest, with Binance now holding approximately 125,000 BTC ($11.2 billion) compared to CME's 123,000 BTC ($11 billion) [1] Group 1: Open Interest Trends - CME's open interest started the year at 175,000 BTC but has declined due to reduced profitability in the basis trade, where traders buy spot bitcoin and sell futures [2] - Binance's open interest has remained stable throughout the year, appealing to retail traders betting on price movements [2] Group 2: Historical Context - A year ago, CME's open interest peaked at 200,000 BTC as prices approached $100,000, with an annualized basis rate of around 15%, which has now decreased to approximately 5% [3] - The decline in the basis rate indicates diminishing returns for institutional basis traders [3] Group 3: Market Dynamics - As spot and futures prices converge, arbitrage opportunities are diminishing, impacting CME's previous dominance in bitcoin futures open interest [4] - CME had been the largest exchange since November 2023, driven by institutional positioning ahead of the anticipated launch of spot bitcoin ETFs in January 2024, but this advantage appears to have diminished [4]

Core Insights - Binance has announced the listing of Kyrgyzstan's national stablecoin KGST on its Spot platform, aiming to enhance trading options and user experience [1] Group 1: Listing Details - The KGST/USDT trading pair will be available starting December 24, 2025, at 08:00 (UTC), with Trading Bots services activated simultaneously [2] - Withdrawals for KGST will commence 24 hours post-listing, and users can begin depositing KGST in advance [2] - The listing fee for KGST is set at 0 BNB, but trading is restricted in several jurisdictions, including Canada, Cuba, Crimea Region, Iran, the Netherlands, the USA, and areas controlled by Ukraine [3] Group 2: Stablecoin Characteristics - KGST is a stablecoin fully backed and pegged 1:1 to the Kyrgyz Som (KGS), designed to provide a secure and efficient digital currency solution for Kyrgyzstan and Central Asia [4] - It is supported by BSC blockchain technology, facilitating fast and low-cost payments [4] - KGST aims to address volatility issues associated with cryptocurrencies and supports Kyrgyzstan's digital economy goals by combining national currency stability with blockchain benefits [5] Group 3: Market Reaction - Following the announcement of the KGST listing, the price of BNB has increased to $864.26, reflecting a 1.31% rise in the last 24 hours, indicating a positive market response [6] Group 4: Strategic Collaboration - Binance and its founder, Changpeng Zhao, are in discussions with the Kyrgyz government to enhance the crypto ecosystem, including plans for a strategic Bitcoin reserve [7]