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Ripple’s Technology Powers New Deal With DBS Bank And Franklin Templeton

by admin September 19, 2025

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Singapore-based DBS Group has forged a strategic partnership with US asset manager and crypto exchange-traded fund (ETF) issuer Franklin Templeton, alongside Ripple, to enhance trading and lending services for accredited and institutional investors.

In a press release issued on Thursday, Ripple announced that the collaboration would utilize tokenized money market funds (TMMFs) and the blockchain payment firm’s stablecoin, RLUSD, to provide new financial solutions.

DBS Explores Liquidity Solutions With sgBENJI Tokens

Under this agreement, DBS Group, Singapore’s largest lender, will list Franklin Templeton’s sgBENJI token, which represents the asset manager’s tokenized US dollar money market fund, on the DBS Digital Exchange.

This partnership marks a new milestone in the maturation of the digital asset ecosystem, which has been garnering increased interest from institutional investors—87% of whom are expected to invest in digital assets by 2025.

For context, crypto MMFs, or tokenized money market funds, are blockchain-based digital versions of traditional MMMFs that offer investors high liquidity, low-risk, short-term yield and ability to manage cash more efficiently.

The collaboration aims to enable clients to manage their digital asset portfolios more effectively, particularly in response to the increased volatility seen in the broader digital asset industry over the past couple of months.

By listing sgBENJI alongside RLUSD on the DBS Digital Exchange, eligible clients can quickly trade RLUSD for sgBENJI tokens. This allows for portfolio rebalancing into a more stable asset within minutes and around the clock.

Looking ahead, DBS plans to explore further liquidity options for clients by using sgBENJI tokens as collateral. This could involve facilitating credit through repurchase transactions (repo) or collaborating with third-party platforms, with DBS acting as a trusted agent holding the collateral.

Ripple’s XRP Ledger Chosen For sgBENJI Tokenization

To enhance the tokenization ecosystem, Franklin Templeton will utilize the XRP Ledger (XRPL), designed for low-cost global financial transactions, for tokenizing sgBENJI.

Per the announcement, the choice of Ripple’s blockchain is driven by its speed, efficiency, and low transaction costs, making it an ideal platform for managing high-volume, low-latency assets like tokenized money market funds.

Lim Wee Kian, CEO of DBS Digital Exchange, emphasized the need for solutions that cater to the demands of a continuously evolving digital asset landscape. He stated that this partnership exemplifies how tokenized securities can enhance efficiency and liquidity in global financial markets.

Roger Bayston, Head of Digital Assets at Franklin Templeton, echoed Kian’s statement on the new partnership, highlighting the potential of blockchain and tokenization in reshaping the financial ecosystem.

Lastly, Nigel Khakoo, VP and Global Head of Trading and Markets at Ripple, noted that this collaboration represents a significant advancement in the utility of tokenized securities.

He described the partnership as a “game-changer” for investors, who will now be able to seamlessly rebalance their portfolios between stablecoins and yield-generating money market funds within a single, trusted framework.

The daily chart shows XRP’s price recovery. Source: XRPUSDT on TradingView.com

At the time of writing, Ripple’s associated token, XRP, is trading at $3.10, capitalizing on the market’s new uptrend with a 3.2% surge over the last 24 hours. However, the cryptocurrency remains 14% below its all-time high of $3.65.

Featured image from DALL-E, chart from TradingView.com

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September 19, 2025 0 comments

PayPal expands PYUSD to Tron and Avalanche via LayerZero

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PayPal’s PYUSD enters Tron, Avalanche via LayerZero rails

by admin September 19, 2025

PayPal is expanding the reach of its stablecoin. Using LayerZero’s interoperability rails, PYUSD is launching onto nine new chains, including Tron and Avalanche, in a strategic move to capture market share from native ecosystem stablecoins.

Summary

PayPal expands PYUSD to nine new blockchains, including Tron and Avalanche, via LayerZero.
The launch introduces PYUSD0, a fungible standard unifying liquidity across supported chains.

According to an announcement on September 18, the interoperability protocol LayerZero is now the primary rail for PayPal’s stablecoin expansion. This technical integration, utilizing LayerZero’s Stargate Hydra model, deploys a new permissionless token standard, PYUSD0, onto nine additional blockchains.

The move strategically positions PYUSD on high-throughput ecosystems like Tron, Avalanche, Abstract, Sei, Stable and Aptos, directly inserting the PayPal-branded dollar into competitive markets long dominated by native stablecoins.

What PYUSD0 means for PayPal’s stablecoin push

PayPal’s expansion is powered by a new technical standard dubbed PYUSD0, which is far more significant than a simple wrapped token. The omnichain fungible token standard, native to LayerZero’s protocol, ensures that the asset on a chain like Tron is not a mere derivative but is the exact same, fully fungible PYUSD held on Ethereum or Solana.

Crucially, users do not need to distinguish between PYUSD and PYUSD0. Both are fungible and redeemable at parity, creating a single liquidity pool across every supported blockchain. For PayPal, this represents a fundamental upgrade from operating isolated deployments to managing a single, omnipresent asset.

“With PYUSD0, PayPal USD expands its reach and flexibility to work across today’s networks and tomorrow’s. Launches like this make it obvious that we are at the start of a global financial market that breaks down borders and works around the clock.” Bryan Pellegrino, Co-Founder and CEO, LayerZero Labs, said.

The strategic importance of this move cannot be overstated for PayPal’s competitive stance. While its $1.9 billion market cap is dwarfed by incumbents, this integration provides a scalable on-ramp to the vast, established user bases on chains like Tron. It is a direct offering to developers on Aptos, Sei, and Avalanche, providing them with a major, compliant stablecoin option that carries the trust of a legacy fintech name

This development also serves as the first major validation of LayerZero’s acquisition of the Stargate bridge protocol. The integration leverages Stargate’s pioneering “Hydra model,” a framework designed to extend assets from a central hub onto a multitude of spoke chains.

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September 19, 2025 0 comments

NFT Gaming

EU Eyes Boost to Pensions, Crypto Oversight Before 2026

by admin September 19, 2025

In brief

The plan includes auto-enrolment pensions, tax incentives, and steps toward market integration.
Oversight changes could give ESMA a role in supervising crypto and cross-border infrastructures.
The push follows warnings on stalled reforms and comes amid debate over the digital euro.

The European Union is preparing a year-end push to expand pension savings and tighten oversight of markets, with plans that could hand its Paris watchdog new authority over crypto firms.

Speaking at the Eurofi Forum in Copenhagen on Thursday, Financial Services Commissioner Maria Luís Albuquerque said the package will cover pension auto-enrolment, tax incentives for savings, and steps to cut cross-border barriers in trading, alongside a debate over shifting key supervisory powers to the European Securities and Markets Authority.

“We are looking at possible centralized supervision of certain market infrastructures, such as central counterparties, central securities depositories, and trading venues,” Albuquerque said during the forum. “We also see the benefit of more centralized supervision for new and rapidly evolving areas where supervisory capacities need to be up to the task, such as Crypto Asset Service Providers.”

Dubbed the EU’s Savings and Investments Union, the initiative is presented as a long-term project to mobilize household wealth and enhance Europe’s financial autonomy by integrating fragmented markets and expanding retail participation.

Any transfer of powers to ESMA, meanwhile, “would not sideline national authorities,” but instead create a framework for joint oversight that could better manage cross-border risks and ensure consistent enforcement across the bloc, Albuquerque stressed.

Albuquerque’s remarks follow a statement from former European Central Bank President Mario Draghi, who warned Tuesday that Europe was “failing to match the speed” of global financial change, a critique that has fueled pressure on Brussels to accelerate long-stalled efforts to deepen its capital markets.

The debate over pensions and market reform coincides with Europe’s efforts to design a digital euro, as officials weigh whether to issue it on public blockchains like Ethereum or Solana.

This comes amid the U.S.’s leapfrogging other jurisdictions with its first stablecoin law, raising questions about the euro’s competitiveness in global finance.

While Albuquerque did not weigh in on the digital euro debate, she argued that Europe’s competitiveness rests on building deeper capital markets and stronger pension systems that channel long-term savings into the economy.

“Pensions, by their very nature, are long-term. That is why they are such powerful drivers of capital market development,” she said. Albuquerque said she sees Europe’s plan creating “a virtuous cycle of investment, where our citizens can invest in their own futures and in the future of our economy.”

Representatives for the commission did not immediately return Decrypt’s request for comments.

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September 19, 2025 0 comments

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Coinbase Adds USDC Lending With Morpho and Steakhouse Financial

by admin September 19, 2025

U.S.-listed cryptocurrency exchange Coinbase (COIN) has rolled out a USDC lending product that allows its customers to earn yield directly from the exchange’s app, deepening its integration with decentralized finance (DeFi).

The feature is powered by Morpho, a protocol that routes deposits through curated “vaults” managed by Steakhouse Financial, according to a blogpost on Thursday

When users deposit USDC, their funds are lent out to borrowers — including those already tapping Coinbase’s crypto-backed loans secured by bitcoin. The interest borrowers pay generates returns for depositors, who can withdraw anytime without lockups.

Coinbase said the setup creates a flywheel effect where its lending and borrowing products reinforce each other. The launch follows more than $900 million in loans originated through Coinbase’s crypto-backed loan service. Together, the two offerings form what the company calls its first complete onchain lending and borrowing ecosystem.

By outsourcing the backend to Morpho’s smart contracts while keeping the Coinbase interface, the company is betting on what it calls the “DeFi mullet” approach: a familiar fintech user experience at the front, powered by open, decentralized infrastructure in the back.

For users, the product offers an easier way into decentralized lending markets without leaving Coinbase’s platform. For Morpho, it underscores the argument that the future of finance will be built on open networks, but accessed through trusted gateways.

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September 19, 2025 0 comments

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Crypto Market Prediction: Can XRP Hit $4.20? Bitcoin Eyes $130,000 All-Time High, Dogecoin ETF Could Spark Meme Coin Euphoria

by admin September 19, 2025

The Fed’s first rate cut in years has set the scene for what could be a pivotal week for cryptocurrencies. With stablecoin reserves stacked and risk appetite alive and well, major and meme coins alike are preparing for their next tests: XRP is eyeing $4.20, Bitcoin is pushing toward $130,000 and Dogecoin is gearing up for its first ETF listing.

XRP on verge of $4.20 breakout

XRP is trading at $3.12 on the weekly time frame, which is good news as it is holding above every key moving average. These are the 26 EMA at $2.65, the 50 MA at $2.28, the 100 EMA at $1.73 and the 200 EMA at $1.24. What we can see here is that the structure is not only intact but also building strength. It is the kind of chart that does not look tired yet, even after a 700% run from $0.50 to $3.50 earlier this year.

XRP/USD Chart by TradingView

The number in focus now is $4.20. That level was marked as the breakout checkpoint when XRP was consolidating inside its triangle, and it is back on the radar as the next step that makes sense. If it is cleared, it will create space for much higher targets, and that is where the debate begins.

Bullish scenario:

A break through the $3.80-$4.20 range is a sign that the market is moving from resistance to support.
If the price goes above that zone, traders who follow momentum are likely to push it to $5.00, with some already thinking that $6.90 might be the next price.
With golden crosses stacking and no sign of exhaustion on weekly candles, this path looks realistic if liquidity keeps rotating into majors.

Bearish scenario:

Failure to break through the $3.50-$3.80 range will stop the rally and keep XRP price in a period of stability.
A drop under $2.90 pulls the price toward the 26 EMA at $2.65, a level that will become a make-or-break threshold for bulls.
Lose it, and the breakout thesis stalls, forcing a return to the old range.

Right now, $4.20 is the key number that everyone involved in the market is watching.

Bitcoin gears up for $130,000 push

Bitcoin is trading at $117,350 on the weekly chart, and the surrounding discussion has not changed much. Is it the inflation hedge that justifies the “digital gold” label, or is it still Nasdaq’s unruly cousin, moving faster when liquidity is pumped back into risky assets?

BTC/USDT Chart by TradingView

The Fed’s rate cut does not settle the debate, but it provides arguments for both sides; uncertainty over inflation is supportive of gold as a hedge, while easier monetary policy also fuels tech-style beta trades. The important thing right now is that BTC is trading just below the $118,000-$120,000 range, which is the only real barrier left before the conversation begins to focus on a new price record.

Bullish scenario:

Break through the $118,000-$120,000 range and the chart will start to aim directly for $125,000, with $130,000 clearly marked as the next all-time high.
Support is strong in the weekly structure: 26 EMA at $107,000; 50 MA at $98,000; 100 EMA at $81,000 and 200 EMA at $63,000. This layered support makes every dip look like an opportunity for large investors to buy more.
The RSI is not overheated, leaving room for the price to climb without triggering alarms.

Bearish scenario:

Should Bitcoin continue to stall below $120,000, there is a risk of it becoming trapped in a sideways grind rather than taking the next step.
Losing $114,000 would shift the focus back to the $107,000 support level. If it falls below that, the outlook will quickly change, exposing $98,000 as the next test.
This would not kill the long-term trend, but it would delay the path to $130,000 and force another consolidation round.

Right now, the $120,000 mark is what everyone is focusing on — and once it has been reached, it will not take much to convince the Bitcoin market to rise further.

Dogecoin ETF fuels meme coin bulls

The price of Dogecoin is currently at $0.282 on the weekly chart, and for the first time in a long time, the narrative is not being driven by memes. The REX Osprey Dogecoin ETF (DOJE) is set to be listed this week, offering DOGE a level of institutional exposure it has never had before.

Whether or not the product attracts serious investment is almost secondary; the market usually reacts to the idea first, and that alone could trigger the next round of volatility. Technically, the coin is well positioned for this.

Bullish scenario:

DOGE is holding above all major averages: 26 EMA at $0.241, 50 MA at $0.224, 100 EMA at $0.187 and 200 EMA at $0.152.
Breaking through $0.30 would open the way toward $0.35, a level not seen since the last burst of activity earlier this year.
If the ETF hype continues, the momentum could carry the meme coin further, with $0.40 and even $0.60 becoming realistic targets in a speculative push.
The weekly structure shows consistent accumulation, suggesting that bulls are already preparing for this potential increase.

Bearish scenario:

If Dogecoin fails to break through the resistance band of $0.30-$0.35, the upward momentum will stall.
A dip below $0.24 would bring the 26 EMA back into play, and breaking this level could lead to further declines toward $0.21 and $0.18.
A collapse toward the 200 EMA near $0.15 is not the base case but remains a possibility if the buzz around the ETF fades quickly.

For now, DOGE’s ability to test the $0.30 mark is dependent on the ETF listing providing it with a narrative spark.

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September 19, 2025 0 comments

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Bitcoin, Solana Down, While ETH, XRP Up

by admin September 19, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A divergence has formed in the crypto futures market during the past week as Bitcoin and Solana have seen deleveraging against the others.

Bitcoin, Solana Have Seen A Drop In Perpetual Futures Open Interest

In a new post on X, on-chain analytics firm Glassnode has talked about the latest trend in the Open Interest for Bitcoin and other top coins in the cryptocurrency sector.

The “Open Interest” here refers to an indicator that measures the total amount of perpetual futures positions related to a given asset that are currently open on all centralized derivatives exchanges.

When the value of this metric goes up, it means the investors are opening up fresh positions on the perpetual futures market. Generally, the total leverage present in the sector rises when this trend develops, so the asset’s price can become more unstable following it.

On the other hand, the indicator registering a decline implies holders are either closing up positions of their own volition or getting forcibly liquidated by their platform. Such a trend usually leads to a reduction in leverage, which can make the price act in a more stable manner.

Now, first, here’s a chart that shows the trend in the Open Interest for Bitcoin over the past week:

The value of the metric appears to have gone down inside this window | Source: Glassnode on X

As displayed in the above graph, the Bitcoin Open Interest has followed an overall downward trajectory in this period, a sign that a net amount of positions have disappeared.

Interestingly, this trend has developed alongside a recovery surge in the BTC price to the $117,000 level. Generally, rallies attract speculative activity so the indicator tends to rise with them, but it would appear that it hasn’t been the case this time around.

Solana, the cryptocurrency sixth largest by market cap, has seen a similar trajectory in its Open interest during the past week, as the below chart shows.

The trend in the SOL Open Interest | Source: Glassnode on X

Thus, it seems both BTC and SOL have seen a cooldown in speculative activity even though their prices have witnessed a net increase over the past week. The same trend, however, hasn’t been seen with some of the other top digital assets.

The cryptocurrency number two only to Bitcoin, Ethereum, has witnessed a surge in the Open Interest, implying an increase in demand among the investors for leveraged positioning.

Looks like the metric has gone up for ETH | Source: Glassnode on X

The analytics firm has pointed out that XRP and BNB have also observed a similar trend. Given this divergence that has formed between the assets, it’s possible that ETH and company may be in for higher volatility than BTC and SOL.

BTC Price

Bitcoin recovered to $117,900 on Wednesday, but it seems the coin has seen a minor pullback since then as it’s now back at $117,000.

How the price of the asset has moved during the last five days | Source: BTCUSDT on TradingView

Featured image from Dall-E, Glassnode.com, chart from TradingView.com

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September 19, 2025 0 comments

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Trump Files a $15 Billion Lawsuit Against New York Times

by admin September 19, 2025

Donald Trump filed a $15 billion defamation lawsuit against the New York Times magazine and Penguin Random House. According to the lawsuit, the NYT’s alleged smear campaign was intended to harm his reputation and business. The token is 70% down after its peak on the second day after the launch in January 2025. Did NYT harm it?

Summary

The NYT has been criticizing Donald Trump for years. It endorsed Kamala Harris in the fall of 2024.
Trump believes the magazine breached journalistic ethics to pursue the interests of the Democratic Party.
Trump filed a $15 billion defamation lawsuit against the Times and Penguin Random House that published a critical book on Trump, “Lucky Loser.” The book was written by the NYT journalists.
Trump believes the book and three NYT articles are full of distorted facts that harmed his reputation and business.

What’s in the lawsuit?

Trump took to Truth Social to announce he is suing The NYT for alleged intended defamation during the 2024 presidential race. The Penguin Random House publisher is another target in the president’s $15 billion lawsuit. The trial is set to take place in a Florida federal court.

The lawsuit is focused on the book published by Penguin and three NYT articles. The book is titled “The Luckiest Loser: How Donald Trump Squandered His Father’s Fortune and Created the Illusion of Success.” It was written by Pulitzer-winning NYT reporters Russ Buettner and Susanne Craig. The articles are:

“The Star-Making Machine That Created ‘Donald Trump, written by the authors of ‘Lucky Loser.’ It outlines how the public image of Trump was enhanced by the producers of ‘The Apprentice’ show. The article was released on Sep. 14, 2024.
“For Trump, a Lifetime of Scandals Heads Toward a Moment of Judgment,” released on Oct. 20, 2024.
“As Election Nears, Kelly Warns Trump Would Rule Like a Dictator,” released on Oct. 24, 2024.

Critics have called Lucky Loser – my book with @russbuettner – a gripping page-turner, a multi-generational saga that brings perspective to how we got to this moment. It’s out next week in paperback. 🎉https://t.co/ZmZ1Nui5Pt

— Susanne Craig (@susannecraig) September 17, 2025

According to the lawsuit, The Times betrayed journalist ideals of honesty, objectivity, and accuracy.

The lawsuit reads:

“The First Amendment has never furnished the Times — or Penguin, or anyone else — with an unqualified privilege to make false, malicious, and defamatory statements about its opponents in order to try and ruin their lives and livelihoods.”

According to the lawsuit, the actions of the publisher and NYT were aimed at harming Trump’s business reputation, sabotaging his candidacy for President, and prejudicing juries and judges in the “unlawful cases brought against President Trump, his family, and his businesses by his political opponents for purposes of election interference.”

The lawsuit suggests that the Harris endorsement article opens with a “hyperbolic line” claiming that Trump is the least fit to serve as the President of the United States. It provides a quotation saying that in the event that Trump gets elected, he will “defy the norms and dismantle the institutions that have made our country strong.” According to the text of the lawsuit, this statement is hypocritical. The text provides several extracts from other NYT articles. One of the articles urges the U.S. people to reject the filibuster tool as anti-democratic. The other one suggests that the U.S. Constitution is “broken” and “dangerous” and calls Americans to “reclaim from constitutionalism.”

The text of the lawsuit reads that repugnant distortions and fabrications about Trump were spread through the NYT and “Lucky Loser” to further the goals of the Times and its Democrat Party backers.

A substantial portion of the lawsuit is dedicated to listing Donald Trump’s achievements. This segment suggests it was his charisma and “unique business acumen” that propelled him to success in show business and politics. Also, it disputes certain narratives from the book and articles in question. These include depicting Trump as a liar, a weak businessman and unreliable business partner, questioning the quality of his real estate, suggesting Trump has ties with the mafia, accusing Trump’s father of multi-million dollar tax evasion, etc.

Did NYT and “Lucky Loser” harm Trump’s cryptocurrency business?

While the lawsuit itself contradicts the damage done to Trump’s reputation by stressing his sweeping victory in the 2024 election, it mentions financial damages caused by the journalists in question.

For instance, it associates the articles and the book with the decline of Trump Media’s stock price, which impacted Trump’s stake in the company. According to the lawsuit, Trump’s one-of-a-kind personal brand is worth $100 billion. It means that any damage to his personal brand is evaluated in billions of dollars.

The lawsuit barely mentions the cryptocurrency ventures of Trump and his family. And it’s not surprising, considering the fact that it is focused on the pre-election material. Actually, the lawsuit doesn’t contain any mention of harm caused by the Times to Trump’s crypto business.

Nevertheless, the legal fight that may cost NYT too much if Trump wins targets the ongoing criticism of the Trump family’s crypto business. The Times has been covering Trump’s controversial crypto business before Trump’s second inauguration. It includes critical coverage of Official Trump memecoin and the entire crypto empire of the Trump family.

The NYT’s point of view often echoes the Democratic Party’s urges to ban crypto business for presidents, vice presidents, and their families. The New York Times continued to publish revelatory and investigative articles on the crypto business of the POTUS after the lawsuit was filed.

The NYT spokesperson published an answer to Trump’s lawsuit:

“This lawsuit has no merit. It lacks any legitimate legal claims and instead is an attempt to stifle and discourage independent reporting. The New York Times will not be deterred by intimidation tactics. We will continue to pursue the facts without fear or favor and stand up for journalists’ First Amendment right to ask questions on behalf of the American people.”

The NYT publisher, A.G. Sulzberger, sent a note to staff calling the lawsuit “frivolous” and saying that “everyone, regardless of their politics, should be troubled by the growing anti-press campaign led by President Trump and his administration.”

Despite the NYT’s questioning of the legitimacy of Trump’s crypto business, there is no visible correlation between the Trump token market performance and the critical articles. Conflict of interests associated with the Trump memecoin is often mentioned in various publications, including Cointelegraph, or is addressed in the X posts of prominent crypto influencers.

Can Trump win this legal battle?

The legal battle with the NYT and Penguin isn’t the first time the 47th President has sued “biased media.” Some of the sued companies had to pay Trump millions in damages. The lawsuit mentions the battles with ABC, CBS, and The Wall Street Journal.

Trump and his influential supporters successfully ostracized a few of his critics from the media. One of the most recent examples is the indefinite suspension of Jimmy Kimmel’s show by ABC on Sep. 18, 2025. It happened hours after Trump condemned Kimmel’s remarks on the assassination of Charles Kirk, who was a public speaker and high-profile Trump supporter. Earlier, Trump expressed pleasure over the closing of Stephan Colbert’s late-night show. In the message posted on Truth Social, he added that he hopes Kimmel will be next. Both Colbert and Kimmel have been critical of the President.

Given all that, it is safe to say that the Times and Penguin will have a tough fight. As of the press time, the NYT continues to publish opinion articles criticizing Trump frequently.

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September 19, 2025 0 comments

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Kalshi Prediction Markets Are Pulling In $1 Billion Monthly as State Regulators Loom

by admin September 19, 2025

In brief

Kalshi reached $1 billion in monthly volume and now dominates 62% of the global prediction market industry, surpassing Polymarket’s 37% share.
Four states including Massachusetts have filed lawsuits claiming Kalshi operates as an unlicensed sportsbook, with Massachusetts seeking to permanently bar the platform.
Kalshi operates under federal CFTC regulation as a designated contract market, arguing this preempts state gambling laws that require separate licensing.

Prediction market Kalshi just topped $1 billion in monthly volume as state regulators nip at its heels with lawsuits alleging that it’s an unregistered sports betting platform.

“Despite being limited to only American customers, Kalshi has now risen to dominate the global prediction market industry,” the company said in a press release. “New data scraped from publicly available activity metrics details this rise.”

The publicly available data appears on a Dune Analytics dashboard that’s been tracking prediction market notional volume.

The data show that Kalshi now accounts for roughly 62% of global prediction market volume, Polymarket for 37%, and the rest split between Limitless and Myriad, the prediction market owned by Decrypt parent company Dastan. Trading volume on Kalshi skyrocketed in August, not coincidentally at the start of the NFL season and as the prediction market pushes further into sports.

But regulators in Maryland, Nevada, and New Jersey have all issued cease-and-desist orders, arguing Kalshi’s event contracts amount to unlicensed sports betting. Each case has spilled into federal court, with judges issuing preliminary rulings but no final decisions yet.

Last week, Massachusetts went further, filing a lawsuit that calls Kalshi’s sports contracts “illegal and unsafe sports wagering.”

The 43-page Massachusetts lawsuit seeks to stop the company from allowing state residents on its platform—much the way Coinbase has had to do with its staking offerings in parts of the United States. Massachusetts Attorney General Andrea Campbell contends that there’s no difference between Kalshi’s prediction market and a “sportsbook,” the likes of which are licensed, taxed, and regulated at the state level.

The state also alleges that Kalshi is skirting other rules it would have to follow if it were categorized as a sportsbook. The prediction market currently allows anyone 18 or older to trade on the platform. In Massachusetts, the legal age for online sports betting is 21.

“Kalshi offers its users a fair, transparent, federally-regulated, and nationwide marketplace,” a Kalshi spokesperson told Decrypt. “Rather than engage in dialogue with Kalshi as many other states have done, Massachusetts is trying to block Kalshi’s innovations by relying on outdated laws and ideas.”

Many well-known sports betting platforms—like FanDuel, DraftKings, and BetMGM—are already registered and pay the state’s 20% tax on gross gaming revenue. Retail sports betting, which means being in-person at a casino, is taxed at a 15% rate.

Kalshi doesn’t currently have a state license in Massachusetts or in any other state. And the lawsuit isn’t an invitation for the company to submit an application. It’s seeking to have Kalshi “permanently” barred.

For now, the company is operating in Massachusetts and across the U.S. on the premise that it’s a federally regulated designated contract market, or DCM, under the Commodities Futures Trading Commission.

The CFTC list of companies with DCM licenses also includes Aristotle, the company behind soon-to-relaunch PredictIt; Railbird, which is rumored to be discussing an acquisition by DraftKings; LedgerX, which was acquired by FTX in 2021 and then sold during its bankruptcy at a massive loss in 2023; and QCX, which was acquired by Polymarket in a $112 million deal earlier this year.

Kalshi and other markets following in its footsteps argue that a federal license to offer events contacts, as regulated by the CFTC under the Commodity Exchange Act, is enough and should, in effect, preempt any state law that would run counter. For now, Kalshi and other prediction markets are pressing forward, and with great success as the prediction space heats up.

But depending on how things go in courtrooms at the state level, a final resolution could be left to the Supreme Court.

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September 19, 2025 0 comments

Bitcoin (ETH), Ether (ETH), Other Cryptos Soon Added to P2P Payments

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PayPal’s $1.3B Digital Dollar Gets Expanded to Avalanche, Aptos, Tron, Others

by admin September 18, 2025

Payments firm PayPal’s (PYPL) U.S. dollar stablecoin is being introduced to nine more blockchains by interoperability protocol LayerZero ZRO$1.8432, expanding the token beyond the four blockchains — Ethereum, Solana, Arbitrum and Stellar — where it’s natively issued.

LayerZero integrated PayPal USD PYUSD$0.9995, issued by fintech firm Paxos, into its Hydra Stargate system, creating a permissionless version of the token dubbed PYUSD0 that’s one-to-one interchangeable with the underlying stablecoin.

The move makes the token available on Abstract, Aptos, Avalanche, Ink, Sei, Stable, and Tron, while existing community-issued versions on Berachain and Flow will convert automatically.

PayPal launched its PYUSD in 2023 as one of the first major payments firm-backed stablecoins. With LayerZero’s expansion, the token aims to reach new markets more quickly and provide a dollar-pegged stablecoin within the crypto economy.

Currently, PYUSD has a supply of $1.3 billion, up from around $520 million at the beginning of this year, RWA.xyz data shows.

Read more: PayPal Adding Crypto to Peer-to-Peer Payments, Allowing Direct Transfer of BTC, ETH, Others

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September 18, 2025 0 comments

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18.07 Trillion Shiba Inu Surge Pushes Price Explosion

by admin September 18, 2025

The Shiba Inu (SHIB) spot market is experiencing a dramatic surge in its trading price, which has also extended to the futures market.

According to data provided by Coinglass, Shiba Inu has surged by a massive 8.51% in open interest over the last 24 hours.

Apparently, the metric surge shows that Shiba Inu traders have locked a massive 18.07 trillion SHIB tokens, worth $252.18 million, on the asset’s futures contracts as investors bet heavily on the Shiba Inu futures market.

Shiba Inu bulls reactivate

This dramatic surge in the Shiba Inu open interest metric coincides with a broad crypto market rally, which has seen leading cryptocurrencies like Bitcoin, XRP, and others reclaim previous highs.

While SHIB has also followed the positive market trend, it has seen its price record notable daily gains, hitting an intraday high of $0.0000136 on September 18th. As such, the massive uptrend in SHIB’s futures activities suggests that traders are betting heavily on a continued price rally for SHIB.

Nonetheless, the surge in SHIB’s futures activity comes as no major surprise, as high price volatilities have often been accompanied by heightened speculative interest among traders, hence triggering the increase in the SHIB open interest volume.

Meanwhile, there appears to be a brief twist, as the SHIB spot market recording a 60% volume jump amid a massive price pump suggests that the bullish momentum might be supported by both speculative and retail demand.

While it remains uncertain how long the market rally will last, investors believe that if SHIB maintains its current momentum, the leading meme token could attempt to retest key resistance levels and possibly remove another zero in the short run.

With SHIB’s open interest crossing a massive 18 trillion in the last 24 hours, data provided by the source show that the majority of these traders are on the Gate exchange, as they account for 49.56% of the total SHIB committed across all exchanges during the day.

Furthermore, Bitget, OKX, and MEXC also followed the list as the top four exchanges with the most traders that contributed significantly to SHIB’s overall open interest. Bitget, OKX, and MEXC recorded 2.58 trillion SHIB, 1.34 trillion SHIB, and 1.34 trillion SHIB, respectively.

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September 18, 2025 0 comments