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The media and conference organization NEXTPredict announced that it has executed the first trade in the flight cancellation market through Kalshi to hedge investments for its October summit, locking in $3 million in guarantees. The company paid a premium of $12,000, and if the cancellation rate of flights arriving at New York's Kennedy International Airport on October 21 exceeds 50%, the contract will automatically pay out, covering the summit costs, as October 21 is the main travel day for attendees. Susquehanna acted as the market maker for this transaction.Kalshi launched the flight cancellation market after self-certifying the contract with the U.S. Commodity Futures Trading Commission (CFTC) on July 14, allowing participants to trade on whether the cancellation volume at specific airports exceeds preset thresholds. This market does not target individual flights and has clear anti-manipulation clauses. NEXTPredict is a media and event platform focused on the global prediction market industry, launched by the NEXT.io team. Its flagship event, the "Global Prediction Market Summit," will be held from October 22 to 23, 2026, at Convene Hudson Yards in New York, bringing together founders, executives, investors, and policymakers.NEXTPredict and Kalshi position this trade as institutional hedging, similar to how airlines hedge against fuel costs or farmers hedge against crop yields, rather than betting on the fate of the summit.

On September 14, 2026, Judge Arun Subramanian of the United States District Court for the Southern District of New York issued an opinion and order denying the plaintiff's motion for a preliminary injunction. The case number is 1:26-cv-05474-AS, with the plaintiffs being market makers Susquehanna Securities, LLC and Susquehanna Investment Group, and the intervenor being market maker Citadel Securities LLC, while the defendants are John Does 1 through 100. The plaintiffs filed the lawsuit on June 29, 2026, claiming violations under Section 20A of the Securities Exchange Act of 1934 and unjust enrichment claims.The plaintiffs allege that the defendants traded on significant non-public information, specifically an announcement on May 22, 2026, regarding "the Chinese government's crackdown on cross-border trading platforms," which led to a collapse of the relevant securities. The plaintiffs sought a preliminary injunction to restrict the 40 defendants, as reduced, from transferring, encumbering, removing, or otherwise disposing of the profits obtained through the alleged insider trading activities in their accounts at third-party brokerage firms, or sought a seizure order. The court found that the plaintiffs failed to demonstrate the elements necessary to prove that they may suffer irreparable harm, and the motion was denied.

The on-chain trading platform TurboFlow announced a strategic partnership with the proprietary trading firm Susquehanna Crypto (SIG Crypto). SIG Crypto will serve as a core liquidity provider, offering institutional-level market-making support for TurboFlow's entire product line and bringing in professional pricing and risk management expertise.It is reported that through an exclusive PFOF (Payment for Order Flow) framework, both parties will jointly optimize the execution experience and slippage control for TurboFlow's high-leverage perpetual contracts and ultra-fast event contracts. Additionally, with the support of SIG Crypto, TurboFlow is iterating its prediction market pricing mechanism from fixed odds to dynamic odds (adjusting with real-time liquidity and volatility) and plans to expand its trading targets from crypto assets to traditional assets such as crude oil and gold.In the future, TurboFlow also plans to launch a Telegram Mini App to further support prediction market trading for major events such as the World Cup in June.

According to Bloomberg, Robinhood Markets Inc. and Susquehanna International Group are acquiring a majority stake in LedgerX. LedgerX is a U.S.-based derivatives exchange that was previously owned by FTX and is currently operated by Miami International Holdings Inc. This acquisition will provide Robinhood and Susquehanna with a strong new foothold in the rapidly growing prediction markets space, as both companies are ramping up their competition in the prediction markets arms race.

ChainCatcher news, Bart Smith, the former head of the crypto division at Wall Street quant trading giant Susquehanna, has left to become the CEO of the newly established Avalanche Treasury Co.The company is valued at $671 million and plans to go public on Nasdaq in the first quarter of 2026 through a SPAC (Mountain Lake Acquisition Corp.). Investors include Dragonfly, ParaFi, Pantera Capital, and VanEck. The company has purchased $200 million worth of tokens from the Avalanche Foundation at a discounted price and plans to hold over $1 billion in AVAX.

ChainCatcher news, the on-chain liquidity distribution protocol Turtle Club today announced the completion of a $6.2 million seed round financing, led by THEIA, with participation from Susquehanna, Consensys, and Ethereum co-founder Joseph Lubin, among others.

According to ChainCatcher news, as reported by CryptoSlate, the quantitative trading firm Susquehanna International Group has filed documents disclosing a $1.3 billion investment in a spot Bitcoin ETF. This includes holding 17.3 million shares of Grayscale's GBTC through three separate investments, totaling $1.1 billion.Susquehanna also purchased 1.3 million shares of Fidelity FBTC, valued at $83.7 million, 583,049 shares of BlackRock IBIT, valued at $23.6 million, 560,832 shares of Bitwise BITB, valued at $21.7 million, and 508,824 shares of Ark 21Shares ARKB, valued at $36.1 million. Additionally, they bought 256,354 shares of VanEck HODL, valued at $20.6 million, 255,814 shares of WisdomTree BTCW, valued at $19.3 million, 166,200 shares of Invesco BTCO, valued at $11.8 million, and 192,391 shares of Valkyrie BRRR, valued at $3.9 million.These combined investments account for only a small portion of the company's latest 13F report, which has a total investment amount of $575.9 billion.

ChainCatcher news, Binance CEO Changpeng Zhao has been named one of Bloomberg's "25 Financial Giants Enriched by Computer-Driven Trading," with a net worth of $28.2 billion, ranking third. It is reported that most of his wealth was earned through the Binance exchange, which Bloomberg estimated on April 5 to have an annual revenue of over $12 billion.Other crypto billionaires on the list include hedge fund Citadel founder Ken Griffin, OPNX exchange investor Susquehanna founder Jeff Yass, and Kotak Mahindra Bank founder Uday Kotak from India. (source link)