BTC $78,419.31 +0.30%
ETH $2,466.83 +0.60%
BNB $693.45 +0.07%
XRP $1.39 -0.62%
SOL $103.78 -1.56%
TRX $0.3382 -0.77%
DOGE $0.0835 -1.80%
ADA $0.1980 -1.64%
BCH $248.82 +0.78%
LINK $11.43 -0.15%
HYPE $80.72 -3.18%
AAVE $124.79 -0.61%
SUI $0.7355 -1.12%
XLM $0.1782 -0.47%
ZEC $861.83 +2.39%
BTC $78,419.31 +0.30%
ETH $2,466.83 +0.60%
BNB $693.45 +0.07%
XRP $1.39 -0.62%
SOL $103.78 -1.56%
TRX $0.3382 -0.77%
DOGE $0.0835 -1.80%
ADA $0.1980 -1.64%
BCH $248.82 +0.78%
LINK $11.43 -0.15%
HYPE $80.72 -3.18%
AAVE $124.79 -0.61%
SUI $0.7355 -1.12%
XLM $0.1782 -0.47%
ZEC $861.83 +2.39%

usta

All
Article
Flash

first_img The prediction market platform Kalshi becomes the exclusive partner of the US Open

According to Front Office Sports, the prediction market platform Kalshi has signed an exclusive agreement with the United States Tennis Association (USTA) to become the exclusive prediction market platform partner for the US Open. The agreement is effective immediately and was finalized only after the qualification rounds ended last week, with the report not disclosing financial terms. Kalshi has not yet been listed among the official partners of the US Open, and a blog post analyzing the women's singles events released earlier by the company included a statement saying that the company "is not affiliated with the US Open or WTA."According to sources, as part of the agreement, the USTA is preventing other prediction market platforms from advertising at US Open venues and on television, including ESPN's broadcasts of the events, which is an unusual aspect of the agreement. Kalshi declined to comment, and representatives from USTA and ESPN did not respond immediately. The US Open is owned and operated by the USTA, and its CEO Craig Tiley took office on July 20 of this year, playing a significant role in facilitating this year's event agreement.Both Kalshi and Polymarket are official partners of the NHL, and Kalshi has recently partnered with several MLB teams. According to data from The Block, since August, the total trading volume for Kalshi, Polymarket, and Polymarket US has reached $41.2 billion, with Kalshi accounting for $33.7 billion.

Garrett Jin: Bitcoin at $80,000 to $82,500 is a key resistance zone, and the short squeeze momentum is hard to sustain

"BTC OG insider whale" agent Garrett Jin analyzed that Bitcoin's recent breakthrough of $70,000 was driven by multiple positive factors, including the expansion of the U.S. Treasury's bond buyback, the SEC's proposed regulatory framework for crypto assets, and the White House crypto summit. The current price has entered a dense area of trapped positions between the latter half of $60,000 and the lower range of $80,000, with the first resistance level showing signs of loosening.Garrett Jin pointed out that over the past two months, a large amount of new holding costs has accumulated in the area just above $60,000, providing bottom support for this breakthrough. Although the short squeeze triggered by short liquidations may push Bitcoin above $80,000 in the short term, the $80,000 to $82,500 range is a key resistance area to watch, and the short squeeze momentum is difficult to sustain in the long term. If effective absorption of chips can occur below $80,000 before the breakthrough, it would be more beneficial for the healthy development of subsequent trends.On the same day, SK Hynix announced the largest stock buyback and cancellation plan in South Korea's history, committing to return at least 50% of the expected free cash flow before 2027 to shareholders. The stock price surged more than 10% at one point, triggering the buyer's circuit breaker mechanism for the KOSPI index. Analysts believe this move can alleviate market concerns about the declining risk appetite for South Korean semiconductor stocks, but it cannot change the cyclical trend of the memory industry itself.

Grayscale: Bitcoin may enter a recovery period in the coming months, but forming a sustainable bottom still requires new buying support

Grayscale's research director Zach Pandl stated that after Strategy disclosed the sale of 32 BTC on June 1, it triggered a new round of volatility in the BTC market. He pointed out that the scale of the sale itself is not important, as Strategy still holds approximately 840,000 BTC on its balance sheet, valued at about $5.5 billion. However, as one of the largest digital asset treasury managers in the world, its strategic shift puts pressure on market sentiment.Pandl believes that more importantly, the recent volatility affects the price of Strategy's variable rate preferred stock tool STRC. STRC is designed to maintain a price of about $100 per share, with a current dividend yield of 11.5%. If the stock price falls below $100, it means investors are demanding a higher return. Strategy can increase dividends, but this will increase future cash flow obligations and may lead to more BTC sales, further suppressing BTC prices. Strategy's leveraged business model is under pressure, increasing volatility across the entire BTC market.At the current levels of STRC and MSTR stock prices, Grayscale believes that Strategy's ability to continue accumulating more BTC is limited. However, Grayscale believes that in the long term, reducing the BTC on the leveraged digital asset treasury balance sheet and allowing more BTC to be distributed across diversified corporate balance sheets will benefit the health of the Bitcoin ecosystem. But before a sustainable bottom for BTC prices is formed, other buyers need to enter the market. Grayscale expects BTC prices to recover in the coming months, but in the short term, BTC's performance may lag behind other segments of the crypto market that directly benefit from regulatory clarity.

first_img HK Web3 Feastival Roundtable: Balancing Regulation and Innovation to Co-build a Sustainable Digital Financial Ecosystem in Asia

ChainCatcher reported live that Li Guoquan, Dean of the Global Fintech Academy, Hong Kong Legislative Council member (Technology and Innovation Sector) Kenneth Lau, Chief Public Mission Officer of Hong Kong Cyberport, Chan Sze Yuen, and Executive Director of the Japan Virtual Currency Exchange Association (JVCEA) & Japan Crypto Asset Business Association, Koji Takeda, attended the HK Web3 Feastival roundtable discussion, focusing on "Balancing Regulation and Innovation to Co-build a Sustainable Asian Digital Financial Ecosystem."Kenneth Lau stated that the legislative process has been significantly advanced, and he hopes to see innovation-driven developments next, exploring how to leave space for new products and business models while improving the regulatory framework. He cited the startup exemption mechanism in U.S. legislation as an example, emphasizing the importance of a nurturing environment for innovation. He also pointed out that the Hong Kong stock market currently does not allow for a market maker system, and the liquidity provision rules in virtual asset trading will be addressed in legislative discussions within the year. Regarding prediction markets, he personally believes that Hong Kong currently does not have the conditions to open them.Chan Sze Yuen introduced that Cyberport launched a pilot subsidy program for blockchain and digital assets last year, with nine projects participating, more than half of which involve RWA tokenization, aiming to promote projects from proof of concept to commercialization. He stated that Cyberport has gathered over 300 Web3 companies from 19 countries and regions, emphasizing that trusted digital identity (KYC/AML compliance) is the foundation for scaling RWA and payment projects, while secondary market liquidity determines whether tokenized assets can become real market products.Koji Takeda revealed that the Financial Services Agency (FSA) of Japan submitted a new bill to the Diet on April 10, proposing to move the regulation of crypto assets from the Financial Services Act to the Financial Instruments and Exchange Act, which means the government officially recognizes the investment attributes of crypto assets, marking a significant shift. He also pointed out that Japan had previously seen over 200 companies relocate to places like Singapore due to strict regulations, but recently, through adjustments to corporate tax systems and discussions on personal crypto tax reforms, companies are gradually returning.Host Li Guoquan summarized that the various jurisdictions in Asia are not in competition but are part of the same ecosystem. Excessive compliance costs may push quality institutions into gray areas, and how to lower compliance thresholds in regulatory dialogues and promote responsible innovation is a common challenge facing the Asian digital financial ecosystem.
app_icon
ChainCatcher Building the Web3 world with innovations.