Polygon Labs, the firm behind the Ethereum scaling network Polygon, has laid off 60 staff after its acquisition of Coinme and Sequence for more than $250 million, a source familiar with the matter told CoinDesk. The layoffs came as the company is pivoting to a payment-focused blockchain, the source said, noting that the changes affected teams across the organization rather than any one function. The rumors of a new round of layoffs began swirling this week after several reports of a 30% workforce cut. A ...

Polygon Labs announced on Jan. 13 that it has entered definitive agreements to acquire crypto payment firm Coinme and wallet infrastructure provider Sequence. The dual acquisition is worth more than $250 million. The plan aims to deliver three pillars of the forthcoming Polygon Open Money Stack, namely physical and digital fiat on- and off-ramps, wallet infrastructure, and cross-chain orchestration through intents. Polygon Labs is a blockchain technology company that develops and maintains Polygon, an E ...

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Wagering on Iran’s Supreme Leader Ayatollah Ali Khamenei losing power has surged dramatically on Polymarket as anti-regime protests entered their 12th day. Bets On Khamenei And Iran Surge In just four days since launch, the trade volume for the “Khamenei out as Supreme Leader of Iran by January 31?” bet has spiked to $4.7 million. It currently stands as one of the most popular bets on the Polygon (CRYPTO: ...

Core Insights - Silver has experienced a significant price surge, reaching $80 per ounce, marking its strongest annual performance since the late 1970s [1][5] - The prediction markets are actively speculating on silver's future price movements, with varying odds for different price thresholds [2][5] Price Predictions - The odds of silver reaching $90 per ounce by the end of January increased to 26% from 22% [2] - The likelihood of silver exceeding $85 rose sharply to 45% from 29% [2] - Bookmakers estimate an 84% chance of silver falling below $70 during the same period, while the odds of surpassing $100 decreased to 14% [2] Market Performance - Year-to-date, spot silver has gained over 140%, outperforming gold, equities, and Bitcoin, primarily due to severe physical shortages in China [5] - The iShares Silver Trust (NYSE:SLV), which tracks silver prices, has surged 161% this year [5] Supply Dynamics - A portfolio manager at Sprott Asset Management indicated that the rally in silver prices is likely just beginning, driven by shrinking supply and potential price squeezes [6] Current Market Status - As of the latest data, spot silver is trading at $73.05 per ounce, reflecting a 4.22% decrease in the last 24 hours [6] - The SLV ETF closed 4.50% higher at $68.98 during the regular trading session [6]

Core Insights - The SEC has shifted its approach towards the crypto industry, moving from "regulation by enforcement" to a more collaborative stance under the new administration, which is seen as a positive development for crypto firms [5][6]. Group 1: SEC Actions and Resolutions - The SEC has dismissed multiple lawsuits against major crypto companies, including Coinbase, OpenSea, and Robinhood, indicating a significant reduction in enforcement actions [8][10][11]. - Ripple Labs and the SEC officially dropped their appeals in August 2023, concluding a four-year lawsuit regarding the unregistered sale of securities with XRP, marking a pivotal moment in the regulatory landscape for crypto [4]. - The SEC voluntarily dropped an appeal related to decentralized finance (DeFi) applications, ensuring that DeFi protocols do not need to register as securities exchanges, which was hailed as a victory by industry advocates [7]. Group 2: Company-Specific Developments - Binance faced significant legal challenges, including settlements totaling $7 billion for alleged securities violations and money laundering, but recent developments suggest a potential resolution [1][2]. - Uniswap Labs and Gemini Trust both had investigations closed without any enforcement actions, reflecting a broader trend of the SEC backing away from aggressive regulatory stances [12][14]. - Yuga Labs announced the closure of an SEC investigation into its NFT offerings, which had been ongoing since 2022, marking a win for the NFT sector [18]. Group 3: Industry Implications - The SEC's recent decisions are seen as a move towards fostering innovation within the crypto space, allowing companies to focus on development rather than legal battles [5][31]. - The closure of investigations into various firms, including Immutable and Ondo Finance, suggests a growing recognition of the need for regulatory clarity in the rapidly evolving crypto landscape [24][32].

Core Insights - Wall Street firms, including JPMorgan, BlackRock, and Fidelity, have chosen Ethereum as their preferred blockchain for tokenization, indicating a significant trend in the financial industry [1][2][3]. Group 1: Adoption of Ethereum - JPMorgan's launch of the OnChain Net Yield Fund (MONY) follows BlackRock's USD Institutional Digital Liquidity Fund and Fidelity's Treasury Digital Fund, all utilizing Ethereum for tokenized money market funds (MMFs) [2]. - The largest funds from these firms each manage assets exceeding $1 trillion, contributing to a broader U.S. MMF market valued at over $7.5 trillion [2]. Group 2: Significance of Ethereum - The convergence of major asset management firms on Ethereum highlights its advantages, such as decentralization, a robust developer ecosystem, and regulatory familiarity, as opposed to private blockchains or newer networks [3]. - Ethereum's existing infrastructure supports asset managers in creating compliant and liquid on-chain offerings, reinforcing its position in the tokenization landscape [4]. Group 3: Alternative Blockchain Considerations - Despite Ethereum's dominance, alternative blockchains should not be overlooked; Provenance holds a significant share of the on-chain private credit market, and Polygon has seen substantial corporate bond issuance [5]. - Many companies developing tokenization solutions are adopting a blockchain-agnostic approach, indicating ongoing interest in both public and private networks [6]. Group 4: Future Implications - As tokenization gains traction on Wall Street, the current choices of infrastructure may establish standards for future on-chain markets, with Ethereum leading the way [7]. - JPMorgan's use of Ethereum for MONY contrasts with its deployment of other tokenized assets on its proprietary Kynexis platform, showcasing a diverse strategy in asset tokenization [8].

polymarket processed $4.33b on polygon last month and their ceo just got appointed to cftc innovation council. no polymarket token exists. kalshi raised $1b at $11b valuation. no kalshi token either. matic processes every polymarket trade and institutions just got regulatory clearance to enter. infrastructure eats first ...

Core Insights - The article highlights the growing interest in cryptocurrency among older investors, particularly focusing on the experiences of a retiree who has become deeply involved in the crypto space despite initial setbacks from scams [2][4][10] - It raises concerns about the lack of education and resources available for older investors, making them vulnerable to scams and misinformation in the rapidly evolving digital currency landscape [11][12][19] Group 1: Investor Experience - The individual in focus, Switzer, has built a $14,000 portfolio in less than a year, investing in various cryptocurrencies such as Ethereum and Solana, demonstrating that older investors can engage with crypto successfully [3][4] - Despite being scammed out of $18,000 in 2024, Switzer's determination to learn from her experiences led her to become more knowledgeable about crypto, including understanding technical aspects like two-factor authentication [2][10] - Switzer actively participates in the crypto community, attending conferences and engaging with online platforms to enhance her understanding and connect with other investors [6][13][15] Group 2: Education and Community - The article emphasizes the need for better educational resources tailored to older investors, as many lack the foundational knowledge to navigate the crypto space safely [11][12] - Switzer's experience illustrates the importance of community and connection in learning about cryptocurrency, as she found support and knowledge-sharing among younger investors online [15][16] - The rise of social media platforms like TikTok and Discord is highlighted as a potential avenue for older investors to learn about crypto, although caution is advised due to the prevalence of scams [17][18] Group 3: Scams and Vulnerability - The article notes that older individuals are particularly vulnerable to cryptocurrency scams, with the FBI reporting over 8,000 complaints from seniors in 2022, resulting in losses of $1.6 billion [10][11] - Scammers often exploit the lack of knowledge among older investors, using sophisticated tactics to create a false sense of security and encourage further investment [8][10] - Switzer's story serves as a cautionary tale, illustrating how scammers can inadvertently educate victims about crypto while also highlighting the need for increased awareness and protective measures for older investors [9][19]

Core Insights - The cryptocurrency market is experiencing significant volatility, with Bitcoin and Ethereum seeing substantial declines, leading to billions in value being erased [1][2][3] - Bitcoin dropped as much as 6% to below $86,000, while Ethereum fell over 7% to around $2,800, indicating a broader market downturn [1][8] - The recent slump follows a period of instability that began with the liquidation of $19 billion in leveraged bets in early October, shortly after Bitcoin reached an all-time high of over $126,000 [2][10] Market Performance - Bitcoin lost 16.7% of its value in November, marking its second-worst month of 2025, despite recovering some gains last week [2][6] - The overall market saw Bitcoin decline over 19% from June to December 1, with other cryptocurrencies like Solana and Dogecoin experiencing losses between 15% and over 45% [6][10] - The market had previously rallied due to institutional inflows, ETF launches, and network upgrades, but the fourth quarter has seen a swift reversal in fortunes [5][6] Investor Sentiment - Market sentiment remains fragile as traders brace for further volatility, with a noted lack of dip buyers and meager inflows into Bitcoin exchange-traded funds [6][10] - Risk appetite has diminished across global markets, impacting equities and cryptocurrencies alike, as indicated by the recent performance of Asian stocks [6][7] Leverage Concerns - High levels of leverage in the cryptocurrency market, with some exchanges offering up to 200x leverage, pose a risk for violent liquidations during price swings [10][11] - The predominantly retail-driven nature of the crypto market contributes to instability, as retail investors react differently compared to institutional investors [11][12]

RT Jonaso (@Jonasoeth)Polymarket had a massive month in OctoberThe platform reached around 338,000 unique traders and handled $3B in trading volume on Polygon, this is a new ATHBesides, other PMs like Kalshi or @trylimitless gained new ATH in some metrics with $4.4B volume for Kalshi and 68K active addresses for Limitless.Prediction markets are becoming mainstream, and Polymarket is leading the sector with both high trading activity and a large, active user base.Data source: @tokenterminal ...