Author: James Wilson
ARK Invest digital asset researcher Lorenzo Valente compared Ethereum, Solana and Hyperliquid with three U.S. restaurant businesses on Sept. 3, arguing that their different operating structures require separate valuation frameworks. Summary ARK researcher Lorenzo Valente compared Ethereum, Solana and Hyperliquid through three contrasting restaurant business models. Ethereum uses layer two networks for scaling while collecting relatively limited settlement fees today overall. Solana processes applications within one integrated environment, keeping execution fees closer to validators and holders. Hyperliquid channels most eligible trading fees toward HYPE purchases through its Assistance Fund mechanism automatically. Valente said each architecture requires separate valuation methods because…
A Michigan court has ordered Kalshi to keep sports event contracts unavailable in the state under a preliminary injunction that carries fines of $500,000 per day for violations. Summary A Michigan court ordered Kalshi to continue blocking sports event contracts for residents under a preliminary injunction. Kalshi could face fines of $500,000 per day for violating the court’s geofencing requirements. Michigan sued Kalshi in March, alleging its sports contracts amounted to unlicensed sports betting. The injunction replaces a temporary restraining order issued in June and will remain until a final ruling. Kalshi faces similar legal challenges over sports contracts across…
An attacker exploited an outdated Rain card contract on Aug. 28, draining approximately $1.1 million from multiple stablecoin card programs operating on Solana, according to blockchain security company Blockaid. Summary An outdated Rain Solana contract allowed unauthorized withdrawals from card collateral accounts across multiple programs. Blockaid estimated approximately $1.1 million was stolen, with proceeds later entering Tornado Cash on Ethereum. Avici reported $500,859 drained from 1,685 users, while Tria identified $431,945 affecting 636 customers separately. Rain said every program using the vulnerable contract version was upgraded following the August attack. Self-custodial wallets remained unaffected because the attacker targeted separate contracts…
SEC Chair Paul Atkins has said the CLARITY Act could advance through the Senate within two weeks as lawmakers prepare for a key procedural vote on Sept. 15. Summary The Senate has scheduled a Sept. 15 cloture vote on the CLARITY Act. Atkins expects lawmakers to advance the bill and eventually send it to President Donald Trump. The SEC is preparing separate crypto rules that could operate with or without the legislation. Kalshi traders place the bill’s chance of becoming law in 2026 at 49%. Atkins expects CLARITY Act movement within two weeks SEC Chair Paul Atkins said in a…
For many long-term XRP holders, waiting for market prices to rise has been a common strategy, however, the cryptocurrency market is highly volatile, and relying solely on price fluctuations for profit means facing market uncertainty. Summary XRPPower has opened a limited time automated trading program for XRP holders and users of other supported cryptocurrencies. The platform offers fixed term contracts ranging from seven to 20 days, with stated daily returns based on the amount committed. New users receive a $21 registration bonus, while the platform also offers referral rewards of 3% and 2%. XRPPower says its system uses automated monitoring,…
Kraken parent Payward has postponed its planned initial public offering until as early as the second quarter of 2027 after market conditions disrupted its previous listing schedule. Summary Payward may wait until at least the second quarter of 2027 to complete its IPO. The company confidentially submitted a draft S-1 registration statement in November 2025. Payward raised $800 million at a $20 billion valuation before filing with the SEC. Second-quarter adjusted revenue rose 17% to $508 million despite lower transaction volume. Kraken IPO timeline moves into 2027 As per reports on Wednesday, citing two people familiar with the matter, Payward…
Fairshake has entered the final stage of the 2026 U.S. election cycle with $122 million available after supporting nearly 50 winning candidates during the primaries. Summary Fairshake has backed nearly 50 candidates who secured party nominations in the 2026 primaries. The super PAC has reserved $122 million for spending before the Nov. 3 general election. Prediction markets give four Fairshake-backed Republican Senate candidates at least a 94% chance of winning. Fairshake’s largest primary defeat came after it spent over $10 million against Juliana Stratton in Illinois. Fairshake adds nearly 50 primary wins According to reports on Wednesday, Fairshake supported nearly…
New Jersey has asked the U.S. Supreme Court to decide whether federal derivatives law prevents states from regulating sports contracts offered by CFTC-registered prediction markets. Summary New Jersey filed its Supreme Court petition on Sept. 2 after losing its case against Kalshi in the Third Circuit. The state says Dodd-Frank did not remove its authority to regulate sports wagering within its borders. Conflicting Third and Ninth Circuit decisions have created opposing rules for prediction markets in different states. Kalshi maintains that the CFTC’s exclusive jurisdiction over its registered exchange overrides state gambling laws. A Sept. 2 court filing shows that…
XRP Ledger order-book volume has increased 79% year over year in the second quarter of 2026, even as the number of daily trading accounts has fallen 40%, according to Evernorth. Summary XRPL order-book volume averaged 3.57 million XRP per day, up 79% from Q2 2025. Daily order-book traders fell from 1,864 to 1,111, while average volume per account nearly tripled. Average RLUSD balances on XRPL rose 642% year over year to $539 million. Value held on the ledger reached a quarterly average of $4.26 billion. Evernorth’s Q2 2026 XRP Liquidity Report showed that fewer accounts were responsible for heavier trading…
Coinbase has launched 23 perpetual and dated crypto futures for eligible Canadian investors, with leverage of up to 10 times on supported contracts. Summary Coinbase has opened 23 crypto futures markets to eligible sophisticated and institutional investors in Canada. The contracts cover Bitcoin, Ethereum, Solana, and 20 other digital assets. Traders can use nano-sized contracts and leverage of up to 10 times. Commodity and index futures linked to gold, silver, oil, and COIN50 are also available. Coinbase said eligible Canadian clients can access the new contracts through Coinbase Financial Markets, its futures commission merchant registered with the U.S. Commodity Futures…