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Quick Take Kalshi has recently received cease and desist notices from gaming regulators in Nevada and New Jersey that seek to stop the prediction marketplace from offering contracts related to sports events and argue only state-licensed organizations can offer sports gambling. Kalshi sued the agencies in response, arguing that as a CFTC-regulated exchange, it is exclusively regulated by the federal government, and the Commodity Exchange Act preempts state law.
Web3 still hasn’t gone mainstream — but Ice Open Network is making decentralized tech feel as simple and seamless as Web2.
Quick Take Daily exchange volumes have dropped from a $126 billion post-election peak to $35 billion, returning to pre-election levels amid market uncertainty. The following is an excerpt from The Block’s Data and Insights newsletter.
Quick Take The FTX estate is set to begin repaying its creditor claims over $50,000 in value on May 30. Creditor repayments could take time given a large volume of likely fraudulent claims, one of FTX’s bankruptcy attorneys said, according to a Bloomberg report. The cryptocurrency claims are valued as of the bankruptcy petition date, November 11, 2022; the price of BTC is currently 5x higher than that value.
- 18:36Russia's Bitcoin Mining Industry Growth Rate Ranks First Globally, Mining Volume Ranks Second WorldwideAccording to Bitcoin News, Russia's Bitcoin mining industry currently ranks first globally in growth rate and second in mining volume. Russia's largest Bitcoin mining companies, BitRiver and Intelion, control over 50% of the market share in the country, generating a combined revenue of $200 million in the 2024 fiscal year.
- 18:35In 2025, corporate Bitcoin purchases reach 205,507, exceeding new supply by three timesAccording to statistics from asset management company Bitwise, by 2025, the amount of Bitcoin purchased by enterprises has exceeded the new supply of Bitcoin by more than three times. Enterprises have increased their holdings by 205,507 Bitcoins within the year, while the new supply of Bitcoin is 64,556. This only includes purchases disclosed by public companies and does not include private companies.
- 18:35Celestia Announces Integration with Hyperlane for Its Native Interoperability SolutionModular blockchain Celestia announced the integration of Hyperlane as its native interoperability solution. Native TIA will expand to platforms such as Ethereum, Solana, Base, Arbitrum One, Eclipse, and Abstract, supported by Hyperlane.