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Cryptocurrency USDC/USD pair

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Former President Donald Trump remains the betting favorite to win the 2024 election despite being found guilty on 34 federal charges. The verdict caused a brief overreaction in betting odds, but they have since stabilized. DraftKings and Polymarket are mentioned as platforms offering political betting.

Portfolio Pulse from Chris Katje

May 31, 2024 | 11:22 pm

Crypto bettors on Polymarket predict a 76% chance of former President Donald Trump being found guilty in his New York criminal trial related to falsifying business records. The market has seen over $77,000 in bets. Another market predicts only a 14% chance of Trump being jailed before the 2024 election. Polymarket allows users to bet using cryptocurrencies like MATIC, USDC, and ETH.

Portfolio Pulse from Chris Katje

May 29, 2024 | 3:22 pm

Circle Internet Financial, the issuer of the USDC stablecoin, is relocating its headquarters from Ireland to the United States amid a market rebound. This move comes as USDC's circulation has increased from $24 billion to $33 billion. The relocation may expose Circle to higher taxes but aligns with recent OECD tax reforms. Circle is backed by major Wall Street firms and cryptocurrency companies.

Portfolio Pulse from Murtuza Merchant

May 15, 2024 | 2:37 pm

Polymarket, a crypto prediction market platform, has secured $70 million in funding led by Peter Thiel's Founders Fund and backed by Ethereum co-founder Vitalik Buterin. Despite regulatory challenges from the CFTC, the platform continues to grow, focusing on non-U.S. markets.

Portfolio Pulse from Murtuza Merchant

May 15, 2024 | 2:27 pm

Stripe is re-entering the cryptocurrency market, focusing on stablecoins for online payments, as announced at their annual conference. Co-founder John Collison cited technical improvements in the crypto space, such as faster transaction speeds and lower fees, as key reasons for this shift. Stripe showcased a payment using Circle's USDC stablecoin, highlighting the growing importance of stablecoins in financial technology. This move comes after Stripe's initial, unsuccessful attempt to integrate Bitcoin payments a decade ago and is part of a broader engagement with the crypto space, including facilitating crypto payouts and launching a crypto on-ramp service in 2022.

Portfolio Pulse from Murtuza Merchant

April 26, 2024 | 1:57 pm

The 2024 presidential election betting odds are heating up, with Donald Trump and Joe Biden as frontrunners. Betting platforms like DraftKings Inc offer political betting in Canada, while Polymarket sees significant activity with over $115 million wagered. Betting odds show a close race between Trump and Biden, with Biden gaining ground amid Trump's criminal trial concerns.

Portfolio Pulse from Chris Katje

April 24, 2024 | 9:01 pm

U.S. Senators Cynthia Lummis and Kirsten Gillibrand introduced a new stablecoin bill aiming to define the operation of digital tokens within the U.S. financial system. The bill mandates stricter requirements for stablecoin issuers, including maintaining one-to-one dollar reserves and not classifying the asset as a security. It aims to preserve the U.S. dollar's dominance and integrate consumer protections by banning algorithmically managed stablecoins. The legislation sets a $10 billion cap on stablecoin issuance for non-depository trusts, affecting large issuers like Circle, which exceeds this limit with $33 billion in USDC in circulation.

Portfolio Pulse from Murtuza Merchant

April 17, 2024 | 2:40 pm

BlackRock (NYSE:BLK), the world's largest asset manager, is expanding its crypto strategy, focusing on Bitcoin, stablecoins like USDC, and tokenized assets. It owns stakes in the iShares Bitcoin Trust (NASDAQ:IBIT), Circle (issuer of USDC), and Securitize (transfer agent for BUIDL). BlackRock is leveraging Bitcoin for its global accessibility, utility in transactions, and as an inflation hedge, with plans to include Ethereum and Solana in its offerings. The firm views blockchain as transformative for capital markets, potentially developing its own blockchain for recordkeeping.

Portfolio Pulse from Murtuza Merchant

April 15, 2024 | 6:53 pm

BlackRock's tokenized fund, BUIDL, integrates with Circle to offer a USDC cash-out option, enhancing liquidity for investors. This collaboration marks a significant advancement in the tokenized asset ecosystem, allowing seamless conversion of fund shares into USDC stablecoin. BlackRock continues to lead in cryptocurrency investment, with its iShares Bitcoin Trust (IBIT) holding over 266,580 BTC. The upcoming Future of Digital Assets conference will further explore these developments.

Portfolio Pulse from Murtuza Merchant

April 11, 2024 | 4:17 pm

A Bernstein report highlights Solana's (SOL) emerging lead in blockchain payments over Ethereum (ETH), attributing it to Solana's streamlined architecture and efficiency in stablecoin settlements. Despite challenges in scalability and network congestion, Solana's advancements and the broader stablecoin market's growth, dominated by USDC and Tether (USDT), indicate a significant shift in digital payments. The report also notes the increasing adoption of stablecoins by major payment processors and fintech platforms.

Portfolio Pulse from Murtuza Merchant

April 09, 2024 | 3:38 pm

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