News & Research

Cryptocurrency exchange Gemini is preparing to launch a prediction market, Bloomberg reported, citing sources familiar with the matter. Prediction markets allow users to bet on the outcomes of specific events, such as sports games and elections. According to the report, Gemini is accelerating its preparations to launch the service as soon as possible. Sources indicated that the company is considering offering prediction contracts through a Designated Contract Market (DCM) license, for which it has previously applied to the U.S. Commodity Futures Trading Commission (CFTC). However, the CFTC has not yet approved the application, a process that could take up to several years.

Julio Moreno, a senior analyst at CryptoQuant, noted on X that Bitcoin has fallen below its 365-day moving average on the daily chart. He observed that this same event occurred in 2022 and marked the beginning of a major bear market. Moreno added that it is now a crucial moment to see whether the price can rebound quickly.

The Independent Community Bankers of America (ICBA) has sent a letter to the U.S. Office of the Comptroller of the Currency opposing an application by Coinbase to establish a federally regulated trust bank through a subsidiary, Cointelegraph reported. The association argued that if Coinbase's subsidiary were to establish the trust, unproven elements such as cryptocurrency custody could negatively impact the traditional financial system. The ICBA also stressed that the proposed trust would be unable to maintain profitability during a crypto bear market.

Nasdaq-listed Bitcoin mining firm MARA Holdings reported third-quarter revenue of $252 million, a 92% increase year-over-year, according to Decrypt. The company also posted a net income of $123 million, a significant turnaround from the $124 million loss recorded in the same period last year.

White House Press Secretary Karoline Leavitt stated during a press briefing that President Donald Trump has officially ended the Biden administration's war on the crypto industry, Watcher.Guru reported. The context for the remark, including the specific question asked, was not immediately available.

Esports company NIP Group plans to expand its Bitcoin investment and mining business, Decrypt reported. The company expects to mine 160 BTC per month but added that it may sell some of its holdings to cover operating costs, depending on market conditions.

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced sanctions against eight North Korean bankers and two institutions for their alleged involvement in laundering millions of dollars in cryptocurrency. According to CoinDesk, a Treasury official stated that hackers backed by the North Korean government steal and launder money to fund the country's nuclear weapons program.

Nasdaq-listed semiconductor firm Sequans Communications has sold 970 BTC to repay 50% of its convertible notes, CoinDesk reported. The move reduced the company's debt from $189 million to $94.5 million. Sequans now holds 2,264 BTC. CEO Georges Karam said the company's long-term Bitcoin strategy remains unchanged.

Market maker DWF Labs is facing allegations that it concealed the theft of at least $44 million in a 2022 hack. An X user posting under the name tanuki42 claimed that in September 2022, a North Korean-linked hacking group known as AppleJeus stole the funds, which consisted primarily of USDC and USDT. The user noted that DWF Labs has never publicly addressed the incident. Prominent on-chain analyst ZachXBT reposted the allegation, commenting that it is not surprising that DWF would conceal a $44 million hack.

Bitcoin has entered a balanced, sideways market as it awaits new catalysts, according to a market analyst. CryptoQuant contributor Arabchain explained that Bitcoin is trading below its moving average, reflecting mild selling pressure and slowing upward momentum in recent days. However, the analyst noted that the unrealized loss indicator is at a significantly low level of 0.06, suggesting that only a minority of traders on Binance are currently at a loss. This indicates the market has not yet entered a large-scale sell-off phase, as selling pressure from long-term investors is not significant. Arabchain added that if the price recovers above the moving average, upward momentum could resume. Conversely, a drop below $100,000 could trigger the start of a full-blown correction.