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Crypto.com Spins Out 'OG' Predictions App Ahead Of Super Bowl LX - Coinbase Global (NASDAQ:COIN)
Benzinga· 2026-02-03 18:36
Crypto.com (CRYPTO: CRO) on Tuesday announced the launch of OG, a standalone predictions app timed to capitalize on the largest gambling event of the year, Super Bowl LX, when Americans are expected to legally wager $1.76 billion on the game. Why Prediction Markets Are BoomingCrypto.com CEO Kris Marszalek said the firm saw roughly 40-fold week-over-week growth in its event contracts business over the past six months. The news comes as prediction market rivals Kalshi and Polymarket combined for $17 billion i ...
Cathie Wood's Ark Invest Doubles Down on BitMine, Coinbase Stocks Amid Bitcoin Plunge
Yahoo Finance· 2026-02-03 18:19
Core Insights - Ark Invest has increased its investments in crypto-related companies, including Coinbase, Circle, and BitMine Immersion Technologies, following a significant drop in Bitcoin prices [1][2] Investment Activities - The firm acquired over $8.7 million in Circle (CRCL) shares and more than $6 million in BitMine (BMNR) shares on Monday, alongside additional investments in Coinbase (COIN) and other crypto firms [2] - Ark Invest now holds nearly $248 million in Circle and $228 million in BitMine, ranking them as the 15th and 16th largest positions in Ark's portfolio, respectively [3] - The firm also maintains $425 million in Coinbase shares, making it the 7th largest position in its holdings [3] Market Performance - Shares of Circle and BitMine have both declined over 20% in the last five trading days, reflecting a broader downturn in crypto-related equities, including Coinbase and Bullish, which have dropped 15.74% and 23% respectively [4] - Despite the falling prices, Ark Invest has continued to purchase crypto-related equities, indicating a long-term bullish outlook [5] Price Predictions - Cathie Wood has expressed a bullish stance on Bitcoin, predicting prices could reach $1.2 million per coin by 2030, although this is a reduction from a previous estimate of $1.5 million due to the rise of stablecoin adoption [6][7] - Bitcoin recently fell to a 15-month low of $75,442 before recovering to nearly $79,000, but has since dropped again to around $74,618 [7]
MetaMask Partners Ondo Finance to Integrate Tokenized US Stocks, ETFs, Commodities
Yahoo Finance· 2026-02-03 18:08
Core Insights - MetaMask and Ondo Finance have integrated tokenized US stocks, ETFs, and commodities into the MetaMask wallet, providing access to over 200 tokenized US securities for non-US users [1][2] Group 1: Integration Details - The integration allows users to access major US stocks like Apple, Amazon, Microsoft, Nvidia, and Tesla, as well as ETFs for silver, gold, and platinum [1] - This marks one of the first instances of native access to tokenized US stocks and ETFs within a major self-custodial wallet for users outside the US [2] Group 2: Market Context - There is a growing interest in tokenized stocks, ETFs, and commodities within the cryptocurrency and digital assets market, with limited self-custody options available compared to traditional brokerage services [3] - Ondo Finance launched its tokenized assets service on the Solana network, challenging competitors like xStocks, which holds a market share of approximately 93% [4] Group 3: Industry Perspectives - Robinhood's CEO emphasized the need for the fintech industry to adopt tokenization to prevent trading freezes, citing the issues faced during the GameStop trading freeze of 2021 [5] - The collaboration between Ondo Finance and MetaMask enables 24/5 trading and 24/7 token transactions for users on mobile [6]
Why Standard Chartered lowered Solana price target for 2026 but raised it to $2,000 by 2030
DL News· 2026-02-03 17:23
Core Viewpoint - Solana is transitioning from a memecoin phase to a micropayments powerhouse, with a price forecast of $2,000 by 2030 according to Standard Chartered [1][10]. Group 1: Price Forecasts - Standard Chartered has lowered Solana's price target for 2026 to $250 from $310, while currently trading at $102 [2][10]. - Future price projections include $400 by the end of next year, $700 by the end of 2028, $1,200 by 2029, and $2,000 by the end of 2030 [3]. Group 2: Micropayments Potential - Micropayments, defined as small transactions allowing pay-per-use models, are seen as a key area where crypto can provide solutions [4]. - Traditional payment processors charge high fees, making micropayments economically unfeasible; for example, Stripe charges approximately $0.30 per transaction [8]. Group 3: Competitive Advantage of Solana - Solana's median transaction fee is $0.0007, significantly lower than Base's average gas fee of $0.015, making micropayments viable [7]. - The low transaction costs of Solana threaten traditional payment processors, as they enable micropayments that were previously not possible [10]. Group 4: Stablecoin Usage - The market value of stablecoins on Solana has grown rapidly, with about $13 billion currently in circulation, and they are used more frequently for payments compared to Ethereum [11]. - Increased micropayment activity using SOL-stablecoins on Solana is expected to drive up the price of SOL [11].
White House Moves On Clarity Act; Cathie Wood Boosts Crypto Stance
Investors· 2026-02-03 16:58
White House Meeting Yields Stablecoin Progress; Cathie Wood Makes These Crypto Buys | Investor's Business DailyBREAKING: [Stocks Edge Higher As Teradyne, Palantir Surge]---Bitcoin and cryptocurrency prices ticked lower Tuesday, after rebounding slightly from their major sell-off over the weekend. The modest gains came after President Donald Trump on Monday hosted a White House meeting between banking and crypto leaders in an effort resolve disputes around stablecoin rewards and to move toward finalizing the ...
Bitcoin will 'massively' outperform gold over 10 years, says Pantera's Dan Morehead
Yahoo Finance· 2026-02-03 16:57
Core Viewpoint - Bitcoin is expected to significantly outperform gold in the long term, according to Pantera Capital CEO Dan Morehead, who emphasizes the importance of looking ahead for long-term investors [1] Group 1: Market Dynamics - Paper money is being debased at a rate of 3% annually, leading to a cumulative devaluation of 90% over a lifetime, making fixed-quantity assets like gold and bitcoin rational investment choices [2] - Investor attention tends to rotate between gold and bitcoin, with total ETF inflows into both assets being roughly equal in recent years [2] Group 2: Institutional Investment - Institutional exposure to crypto remains minimal, with many large firms holding no bitcoin or crypto assets, which contributes to a bullish outlook for the market [4] - The reasons that previously deterred large institutions from investing in crypto are diminishing, with improvements in custodial options and regulatory clarity being noted [4] Group 3: Blockchain and Crypto Integration - Blockchain has delivered 80% annual returns over 12 years and offers low correlation with stocks, making it a unique asset class for high growth and portfolio diversification [5] - Crypto is becoming increasingly integrated into everyday life, with examples including stablecoins and crypto-powered neobanks, suggesting that people may use crypto without realizing it [5] Group 4: Regulatory Environment and Future Catalysts - The U.S. is experiencing a regulatory turning point, moving from a negative to a neutral stance on crypto, which is seen as a positive development [5] - Potential catalysts for bitcoin acquisition include a "global arms race" among countries, as they recognize the risks of storing wealth in assets that can be easily canceled by authorities [5]
AIxCrypto says AIxC Hub surpasses 1M registered wallets
Yahoo Finance· 2026-02-03 16:30
Core Insights - AIxCrypto (AIXC) has announced a significant stock purchase agreement with a designated third party, involving a $10 million investment in FF, which will issue $10 million in Class A common stock [1] - The transaction aims to connect traditional capital markets with the decentralized ecosystem, leveraging Real World Asset technology [1] - AIxC Hub has surpassed 1 million registered wallets, indicating strong user engagement and growth [1] Financial Transaction Details - AIXC will fund FF with $10 million before offering expenses, with the closing expected on or shortly after February 13, 2026, pending customary closing conditions and stockholder approval [1] - The investment represents a pioneering model for direct equity investment by a U.S.-listed public company [1] Product Launch and Market Presence - AIxC has launched Tenki, an AI-powered interactive game designed for entertainment, which aims to enhance user retention and evolve the AIxC Hub's Embodied AI architecture [1] - On the launch day, AIxC's official X account ranked 7 among top regional discussion leaderboards, showcasing its growing visibility in high-growth Asian markets [1]
Crypto Currents: Markets face liquidity strain amid regulatory shifts
Yahoo Finance· 2026-02-03 16:15
Regulatory Developments - South Korea's Financial Supervisory Service is enhancing its VISTA system with AI to detect price manipulation automatically [1] - Hong Kong plans to issue its first stablecoin licenses in March, with the Monetary Authority expecting to approve only a limited number initially [1] - The Bank of England is exploring the use of stablecoins and tokenized deposits to reduce merchant costs, potentially bypassing traditional card payments [1] Market Sentiment - The current market sentiment is risk-off, driven by macroeconomic concerns and the nomination of a hawkish Federal Reserve chair, leading capital towards safe havens like gold [2] - Bitcoin has notably decoupled from the tech rally, causing investor anxiety as leverage is removed from the system [2] Federal Reserve Nomination - The nomination of Kevin Warsh to lead the Federal Reserve is perceived as a mixed signal, with economists suggesting it may stabilize rather than expand market liquidity [3] Analyst Insights - Bernstein analysts view the current market drawdown as a temporary phase in an "institutional cycle," predicting a reversal by early 2026, which could set the stage for long-term growth [4] - CFTC Chairman Michael Selig's leadership and initiatives, including "Project Crypto," are seen as positive developments that may resolve regulatory uncertainties, benefiting companies like Coinbase Global and Circle [4] - H.C. Wainwright has initiated coverage on Hut 8 with a Buy rating and an $80 price target, highlighting its significant partnership with Anthropic and Fluidstack, which lowers debt costs and strengthens its position in high-performance computing [4] Price Action - As of the latest data, Bitcoin is trading at $79,005.08 and Ether at $2,376.72 [5]
X @BSCN
BSCN· 2026-02-03 16:00
🚨BREAKING: CRYPTO[.]COM LAUNCHES "OG"; STANDALONE PREDICTION MARKETS PLATFORM@Cryptocom has launched a prediction markets business into a dedicated app "OG," offering CFTC-regulated event contracts across sports, politics, finance, and entertainment.The first 1 million users receive up to $500 in rewards. ...
White House meeting fails to resolve US crypto legislation stalemate
Yahoo Finance· 2026-02-03 15:45
Group 1 - The White House meeting aimed to resolve a stalemate between major U.S. banks and cryptocurrency firms regarding digital-asset legislation but ended without an agreement, highlighting ongoing industry divisions [1][2] - Representatives from both the banking and crypto industries attended the meeting, including notable trade groups such as the American Bankers Association and the Blockchain Association [3] - The primary contention revolves around how the proposed legislation treats interest and rewards on stablecoins, with banks advocating for prohibitions on such practices [4][5] Group 2 - Crypto companies argue that offering rewards like interest is essential for attracting new customers, while banks fear this could lead to a loss of deposits, jeopardizing financial stability [5][6] - The meeting was intended to facilitate compromise after the Senate Banking Committee postponed a markup due to rising objections from both sectors [6] - The Clarity Act aims to establish federal regulations for digital assets, addressing the crypto industry's concerns about existing inadequate rules [7][8]