Author: James Wilson

The Commodity Futures Trading Commission has taken New Mexico to federal court over efforts to regulate prediction markets. Summary The CFTC sued New Mexico officials to stop state gaming laws from applying to Kalshi contracts. New Mexico accused Kalshi of offering unlicensed sports betting and allowing underage participation. CFTC Chair Michael Selig said federally regulated exchanges fall under the agency’s jurisdiction. The lawsuit targets state officials after New Mexico moved against Kalshi over alleged unlicensed sports betting activity. The dispute adds another chapter to the growing conflict between state regulators and federal authorities over prediction market oversight. CFTC challenges New…

Binance has canceled its SpaceX IPO campaign and announced full refunds after allocation issues disrupted one of the most anticipated tokenized stock offerings tied to the record-breaking public debut. Summary Binance canceled its SpaceX IPO campaign and refunded all participating users after allocation issues disrupted the offering. Bybit also returned 100% of subscription funds, citing xStocks’ failure to deliver the underlying assets. Despite the allocation problems, SpaceX shares surged as much as 20% after debuting on Nasdaq, pushing its valuation above $2 trillion. According to a June 12 announcement, Binance has canceled its SpaceX IPO subscription campaign due to circumstances…

Federal prosecutors have charged a Tennessee resident over an alleged cryptocurrency investment operation that authorities say misused investor funds. Summary Federal prosecutors charged Misam Abidi with operating an alleged crypto Ponzi scheme through Star Credit Holdings. Authorities allege Abidi diverted more than $1.9 million of investor funds to himself and family members. The indictment includes wire fraud, money laundering, unlicensed money transmission, and false tax return charges. Court documents accuse the defendant of making false claims about returns, reserves, and assets under management. The Justice Department announced the charges on Friday and outlined allegations covering activity between 2020 and 2024.…

SpaceX shares have drawn a fair value estimate of $63 from Morningstar even as bullish forecasts have pushed price targets as high as $190 following the company’s public market debut. Summary Morningstar estimates SpaceX is worth $63 per share, far below its $135 IPO pricing. Despite valuation concerns, some analysts believe strong demand could push the stock toward $190. SpaceX speculation has boosted activity across crypto markets, including SPCX tokens, Velvet, and Hyperliquid. According to a Wall Street Journal report, analysts at Morningstar believe SpaceX stock is trading well above its underlying value despite the intense demand surrounding the offering.…

Ethena Labs has planned a $250 million allocation to Securitize’s tokenized AAA-rated CLO fund as the product expands to Solana. Summary Securitize has expanded its tokenized AAA rated CLO fund to Solana, with Ethena Labs planning a $250 million allocation. The fund invests in U.S. dollar denominated AAA rated CLO tranches and is supported by BNY as custodian and sub adviser. According to a June 12 press release, the Securitize Tokenized AAA CLO Fund (STAC) is now available on Solana, extending access to a fund focused on U.S. dollar-denominated AAA-rated collateralized loan obligation tranches sourced from both primary and secondary…

Bitcoin may not have formed its cycle bottom yet, according to a new Galaxy Research report that uses market and onchain data to map possible downside zones. Summary Galaxy says Bitcoin’s four-year cycle remains active, but each cycle is showing smaller price swings. The report places Bitcoin’s base-case bottom between $40,000 and $46,000 using onchain cycle data. Only four of 13 bottom indicators have triggered, suggesting Bitcoin may need more time. Galaxy Head of Firmwide Research Alex Thorn said Bitcoin’s four-year cycle still appears active, even as the size of each move continues to shrink. The report argues that Bitcoin’s…

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. XRP and Little Pepe highlight the trade-off between established crypto assets and higher-risk presale opportunities. Summary XRP vs Little Pepe debate highlights contrast between established crypto utility and high-risk presale upside potential. LILPEPE presale shows strong fundraising momentum while XRP remains positioned as a regulated institutional crypto asset XRP offers lower risk exposure, while LILPEPE represents speculative presale growth with higher volatility and reward… Investing $1000 in the crypto market is not as simple as it used to be.…

Hong Kong has priced its largest-ever digital bond sale at around HK$12 billion (approximately $1.5 billion), extending the city’s push to bring traditional fixed-income markets onto blockchain-based infrastructure. Summary Hong Kong Mortgage Corporation priced a HK$12 billion digital bond sale, which it described as the largest tokenized bond issuance completed globally. Investor demand reached about HK$24 billion equivalent, with orders from more than 100 institutional accounts across Hong Kong, mainland China, and overseas markets. The blockchain based issuance reduced settlement time from five business days to three and set a new maturity record for a Hong Kong dollar digital bond.…

Metaplanet has agreed to acquire Japanese securities firm Siiibo Securities for JPY 2.1 billion, adding a licensed brokerage platform that it plans to use for Bitcoin-linked investment products and yield-focused offerings. Summary Metaplanet will acquire Siiibo Securities for JPY 2.1 billion and rename the firm Metaplanet Securities after the deal closes. The acquisition gives Metaplanet a licensed securities platform to distribute Bitcoin linked investment products and yield focused offerings in Japan. Backed by its 40,177 BTC treasury, Metaplanet said the transaction is the first major step in its Project Nova financial ecosystem strategy. According to a June 12 announcement from…

Former U.S. Commodity Futures Trading Commission Chair Gary Gensler has joined a growing list of groups challenging sports prediction markets, arguing in a new court filing that Congress never intended federal derivatives laws to cover sports betting contracts. Summary Former CFTC Chair Gary Gensler told a federal appeals court that sports prediction contracts do not qualify as swaps under U.S. derivatives law. Tribal groups, gaming industry organizations, and Better Markets joined court filings arguing that sports prediction markets should remain subject to state gambling regulations. The case adds to a growing legal fight over whether the CFTC or individual states…