Crypto
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Polymarket allegedly faked trades. Chances are slim Trump admin investigates, says sports-betting attorney
Polymarket is in the hot seat after an investigation alleged that the prediction market paid influencers to film fake trades and fabricate winnings. Legal experts say those allegations could result in regulatory consequences for the company—if President Donald Trump’s administration chooses to act. The $9 billion company allegedly asked creators with American audiences to falsify…
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Exclusive: Crypto analytics startup Allium raises $40 million to tame blockchain data for Wall Street
Blockchains are public databases, but that doesn’t mean they’re legible. Even experts struggle to read their complicated strings of letters, numbers, and transactions. Still, with enough savvy, the troves of data on blockchains become more manageable. New York-based Allium has made a business of taming digital asset data, and top-flight investors believe the crypto analytics…
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The World Cup’s biggest winner so far? Prediction markets, where a $5.4 billion betting frenzy has shattered previous records
Argentina and Spain are riding high after dominant World Cup performances, inching them closer to the tournament’s knockout stage. But prediction market firms like Kalshi and Polymarket are celebrating in equal measure. Just 11 days into the tournament, and with a month still remaining, this upstart sector of the betting industry, which allows users to…
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Former New York governor Andrew Cuomo to co-chair joint venture between NYSE owner and crypto exchange OKX
One of New York’s most prominent politicians is pivoting to digital assets. Andrew Cuomo, the former governor of New York and a New York City mayoral candidate in 2025, will co-chair a joint venture between the owner of the New York Stock Exchange and the crypto exchange OKX, the two companies announced on Monday. The…
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Exclusive: Son of pro-crypto New York Senator Kirsten Gillibrand raises $30 million to launch a derivatives exchange
The 22-year-old son of a crypto-friendly senator plans to launch his own exchange for a type of derivative popularized by digital asset traders. Theodore Gillibrand, whose mother is Sen. Kirstin Gillibrand (D-N.Y.), has drummed up $30 million in a fundraise led by the venture firm Lux Capital, according to two sources familiar with the matter.…
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Sam Bankman-Fried’s pardon faces bipartisan pushback in Congress: ‘Keep him locked up’
Two senators don’t want Sam Bankman-Fried out of prison. On Wednesday, Sens. Cynthia Lummis (R-Wyo.) and Ruben Gallego (D-Ariz), introduced a resolution urging the executive branch to ignore the FTX cofounder’s formal bid for a pardon. The resolution, which is not explicitly addressed to President Donald Trump, asserts that Bankman-Fried’s 25-year-sentence “serves the interests of…
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Robinhood announces it will reduce headcount by 10%, CEO seeks to avoid ‘heavily-layered’ organization
Robinhood, the app-based brokerage that helped fuel the meme-stock boom, is preparing another round of layoffs as it becomes the latest tech company to slim down its workforce. In a recent Form 8-K filing released on Tuesday, the company announced that it would trim about 290 full-time employees, amounting to 10% of its workforce, and…
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UFC fighters at the White House got paid with Trump family stablecoins—but an ethics expert says a gap in the law allows this
Trump’s Ultimate Fighting Championship Freedom 250 spectacle on the White House South Lawn resulted in record bonuses for the winners. The fighters, though, didn’t get paid in U.S. dollars, which would seem to be the obvious currency for such an event. Instead, the prize money came in the form of USD1, a type of synthetic…
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Controversy swirls over Spanish soccer club accused of using novel $600,000 Kalshi wager to bet on its relegation
A Spanish football club at the center of a prediction market controversy has denied placing a nearly $600,000 bet on Kalshi to hedge against the financial hit of dropping to a lower tier in one of the world’s top soccer leagues—a fate that hinged on the outcome of a single match. Club Atlético Osasuna came…
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Exclusive: Consumer device giant LG Electronics to launch blockchain to place and sell ads
A South Korean tech giant wants to put ads on chain. LG Electronics, which makes TVs, laptops, and a slew of other consumer devices, is building out a blockchain-based network designed for advertising, the company told Fortune. The firm has its own dedicated blockchain research lab and piloted the project with an unnamed Japanese ad…