Trump family crypto venture World Liberty Financial Inc. is facing an investor revolt led by billionaire Tron founder Justin Sun, one of the project’s earliest and largest backers. The controversy arose after WLFI took out a $75 million loan backed by three billion of its own WLFI governance tokens, shortly before a large block of tokens is due to be…
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Stanley Druckenmiller Bigs Up Stablecoins
Money maven praises crypto – again
Those of us around from the early days of crypto will recall how incredibly validating it felt when one of the giants of establishment finance would say something encouraging. In 2020, for example, Modern Consensus ran a story headlined “Bitcoin stabilizes above $15K after Stanley Druckenmiller says he owns BTC.” To have an eminence grise like Druckenmiller give his imprimatur…
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Prediction Markets Becoming $1.1T Business: BoA
Blockchain-based betting markets are popular but controversial
Bank of America has predicted that the sports betting portion of the prediction market industry could grow into a $1.1 trillion business in the U.S. That would give it an annual income of about $10 billion, Bloomberg reported. Prediction markets allow users to place yes or no/A or B bets on nearly anything, from cryptocurrency prices to culture and election…
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Coinbase CEO Brian Armstrong Calls for Passage of Clarity Act
Stablecoin yield fight may be resolved
Coinbase CEO Brian Armstrong called on the Senate to pass the Clarity Act, following up on Treasury Secretary Scott Bessent’s call in a Wall Street Journal Op-Ed yesterday. Armstrong’s move, in a Thursday evening tweet, is particularly relevant as he was the prime mover in holding up progress on the Act, withdrawing support for an earlier version a day…
