7 hours ago
Coinbase Inc. (COIN) is warning customers that a U.S. regulator is demanding information about interactions with prediction market firm Polymarket, according to a person familiar with the situation, and Coinbase has sent messages to customers saying the exchange may have to share that data. Copies of the emails shared with some customers have circulated on social-media sites , and those warnings about the U.S. Commodity Futures Trading Commission (CFTC) requests are accurate, the person said. The U.S. derivatives regulator has conducted a drawn-out legal battle with prediction markets firms, and this latest move comes just days before the leadership of the agency will flip from Democratic to Republican when President-elect Donald Trump takes office. "When we receive requests for information from a government, each request is carefully reviewed by a team of trained experts using established procedures to determine its legal sufficiency," a Coinbase spokesperson said in an emailed statement, though the company declined to confirm receipt of the specific subpoena. "Where necessary, we will seek to narrow requests that are overly broad or vague in order to provide a more appropriately tailored response, and in some cases we object to producing any information at all." The CFTC lost an initial case against prediction market firm Kalshi when a U.S. federal judge ruled late last year that the agency couldn`t bar the company from listing election contracts. However, the regulator quickly filed an appeal with a higher court, and Polymarket argued in that new legal clash that only Congress can halt election betting . Read More: U.S. Election Betting: Federal Court `Erred` in Letting Kalshi Launch Prediction Markets, CFTC Says Neither the CFTC nor Polymarket immediately responded to a request for comment on the effort to gather customer information. On January 20, Trump will reclaim the White House, and he`ll be able to appoint a new chairman to replace Rostin Behnam, who has led the CFTC during its lengthy legal dispute with the prediction businesses. The sitting Republican commissioners, Caroline Pham and Summer Mersinger have drawn attention as potential candidates for the open chairmanship, as has former Commissioner Brian Quintenz.
CoinDesk
You can visit the page to read the article.
Source: CoinDesk
Tags :
Policy Commodity Futures Trading Commission Coinbase Polymarket Prediction Markets Kalshi
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Standard Chartered Brings Elite Crypto Custody to Luxembourg, Fuels EU Expansion
Standard Chartered’s launch of crypto custody services in Luxembourg strengthens its EU presence, leveraging regulatory stability to meet rising demand for secure digital asset solutions. Crypto Custody Takes Center Stage as Standard Chartered Expands to Luxembourg Standard Chartered, a leading international banking group known for its presence across Asia, Africa, and the Middle East, has CoinDesk
Crypto Arena Shocker: New Presale Coin Set To Surpass DOGE and SHIB With 5x Growth Potential
The post Crypto Arena Shocker: New Presale Coin Set To Surpass DOGE and SHIB With 5x Growth Potential appeared first on Coinpedia Fintech News Right now, Dogecoin (DOGE) and Shiba Inu (SHIB) are meme coins facing some volatility, with red price charts everywhere. However, market experts like Wizz and Alek are still bullish, as they made some bold price predictions for them. Nevertheless, DTX Exchange (DTX) , a new player in the game, is swiftly taking over the crypto market. This token is now in phase seven of its presale and has rewarded early investors with a 600% return. Moreover, its recently launched hybrid trading platform has already onboarded over 300K users. This level of interest is rare in the crypto sphere. Therefore, some analysts hint that DTX could be the next 5x crypto coin in 2025. DTX Exchange (DTX) Stuns Early Buyers With a 600% Surge As Dogecoin (DOGE) and Shiba Inu (SHIB) are experiencing price dips, DTX Exchange (DTX) is showing bullish momentum. Many traders are rushing to its crypto ICO event, which has been on fire lately. Notably, early investors in DTX Exchange are already 600% richer. Recently, DTX Exchange made headlines by launching its hybrid trading platform, which combines the best of CEX and DEX. On it, people will get access to over 120K asset classes at up to 1000x leverage. These will include CFDs, crypto coins, stocks, etc. Furthermore, no sign-up KYC checks will be needed, meaning traders will always remain anonymous. This launch was preceded by the CoinMarketCap listing of its native token, DTX, which could bring millions of new eyes to this presale. Currently, this crypto coin costs only $0.14 in phase seven of its presale, but its value will rise to $0.16 after phase eight begins. Additionally, traders are waiting for a top-tier crypto exchange to list DTX, triggering a rally to $0.20. Wizz: The Price of Dogecoin (DOGE) Will Reach $1 Dogecoin (DOGE) is the most well-known name in the meme coin market. However, it has seen some turbulence recently. According to CoinMarketCap, its value has dropped nearly 20% in the past month alone. During that time, the Dogecoin price moved between $0.40 and almost $0.30. Nevertheless, crypto analyst Wizz remains optimistic about Dogecoin (DOGE). He criticized those who did not hold this meme coin in his X post. As a Dogecoin price prediction, Wizz foresees a potential pump to $1 soon. But, the high Dogecoin market cap of around $49B could be a problem for its long-term growth. In other words, this meme coin will need a lot of new money for its price to see a noteworthy jump. Because of this, many investors are gravitating to tokens like DTX instead. Shiba Inu (SHIB) Price Looks Ready To Go Past Resistance, Analyst Claims Shiba Inu (SHIB) is another meme coin showing some bearish movement. On the one-month chart, its value fell from around $0.000027 to nearly $0.000021. In other words, as per CoinMarketCap, the Shiba Inu price dropped over 20% in just a few weeks. But the crypto community is still keeping an eye on Shiba Inu (SHIB) following market expert Alek’s statement. According to his X post, this meme coin has set a cup and handle pattern that could lead to price growth. He predicts a jump to $0.000080 in his Shiba Inu price prediction. Although the Shiba Inu coin may see a price increase soon, some traders are still cautious. Since SHIB has already surged over 120% on the YTD chart, its highest upswings may have passed. As a result, traders choose to focus on DTX more. Can DTX Exchange (DTX) Gain the Upper Hand Over Dogecoin (DOGE) & Shiba Inu (SHIB)? Although Dogecoin (DOGE) and Shiba Inu (SHIB) could see big price gains soon, their lack of utility as meme coins could hinder their long-term growth potential. Meanwhile, DTX Exchange (DTX) is a utility token that will give traders governance voting rights and a portion of the trading fee revenue made on this platform. Therefore, adoption may increase faster. Because of this, experts forecast a potential 5x surge for DTX this year. Find out more information about DTX Exchange (DTX) by visiting the links below: Buy Presale Visit DTX Website Join The DTX Community CoinDesk
