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  • CZ: AI Agents to Fuel Next Crypto Boom

    CZ: AI Agents to Fuel Next Crypto Boom

    Binance founder Changpeng Zhao, widely known as CZ in cryptocurrency circles, believes that artificial intelligence agents could become a significant catalyst for the industry’s next wave of adoption.

    According to Zhao, this is because autonomous AI systems are likely to adopt blockchain-based payment solutions long before traditional financial institutions can adapt to their needs.

    Speaking in a comprehensive interview with Alex Thorn of Galaxy Research, Zhao articulated a logical argument for his assertion. He noted that while current AI can identify the cheapest flights, it cannot yet complete the purchase. This limitation stems from payment methods like credit cards, which typically require human intervention for swiping or authentication. The moment two-factor authentication or Know Your Customer (KYC) checks are introduced, AI agents encounter an insurmountable barrier.

    In contrast, blockchain technology is inherently built with APIs, enabling autonomous systems to interact with it seamlessly, much like they would with any other software.

    “Agentic trading and payments will come in a matter of months, not years, I think. And they will use crypto,” Zhao told Thorn.

    He framed this not as a speculative prediction but as an inevitable outcome, given the fundamental architecture of AI agents requiring programmable infrastructure for transactions. He pointed out that much of the legacy financial system lacks this programmability.

    CZ also countered the notion that AI is siphoning capital and attention away from the crypto market. He highlighted that investors are already utilizing crypto networks to trade AI-related stocks, suggesting that the AI hype is actually boosting trading volumes on blockchains rather than detracting from them.

    “Even the money that went there still flows on the blockchain,” he stated.

    Zhao’s core argument is that blockchain, AI, and the internet are distinct technologies that will evolve in parallel, complementing rather than competing with each other, much like the internet’s emergence did not diminish the importance of existing technologies.

    The former CEO further linked this to financial inclusion, explaining to Thorn that with billions of adults still excluded from traditional banking, permissionless payment infrastructure could foster greater participation than legacy banking systems have achieved.

    Zhao’s perspective is not entirely novel. In a December 2025 report, venture capital firm a16z crypto made a similar argument, positing that AI agents will necessitate payment systems capable of facilitating value transfer at internet speeds. At the time, the firm suggested that stablecoins and blockchain networks could emerge as the preferred settlement layer for machine-to-machine transactions.

    However, early attempts to integrate these AI agents have not been without challenges. For instance, in April, a company named PocketOS lost its entire production database, including all backups, after an AI coding agent inadvertently deleted it through a single API call. In another incident, an AI agent known as Lobstar Wilde mistakenly transferred $450,000 worth of tokens to an individual who had requested 4 SOL, reportedly to fund a relative’s medical treatment.

  • Grayscale Sees AAVE Reaching $175

    Grayscale Sees AAVE Reaching $175

    Grayscale Predicts AAVE Could Reach $175 Amidst Regulatory Clarity and RWA Adoption

    New York, NY – Grayscale Research has projected that AAVE, the native token of the Aave decentralized finance (DeFi) protocol, could see its value surge to approximately $175 within the next year. This optimistic outlook hinges on the potential for clearer regulations to accelerate the adoption of tokenized real-world assets (RWAs).

    The firm estimates AAVE’s current fair value to be between $80 and $100, a significant premium compared to its current trading price hovering around $73.

    Grayscale highlighted Aave’s established position as the leading decentralized lending protocol, coupled with increasing stablecoin usage and the burgeoning tokenization of traditional financial assets, as key drivers for future growth. Aave functions as a digital lending platform, enabling users to deposit cryptocurrency, earn yield, and borrow against collateral via smart contracts, bypassing traditional financial intermediaries.

    The broader DeFi ecosystem currently holds over $59 billion in deposits and $25 billion in outstanding loans, with Aave commanding a substantial portion of this activity. The protocol boasts nearly 200,000 monthly users and generates revenue primarily through lending spreads, treasury earnings, and income from GHO, its native overcollateralized stablecoin.

    Grayscale noted a considerable strengthening of Aave’s financial performance in recent years. Between 2023 and 2025, the protocol’s revenue saw a more than sixfold increase, while maintaining a robust profitability rate of approximately 50%. The report also pointed out that Aave’s DAO treasury has, at times, held over $360 million, providing a substantial capital reserve for expansion initiatives and other community-approved projects.

    A significant factor in Grayscale’s bullish forecast is Aave’s strategic push into institutional markets, particularly through its Horizon initiative. This dedicated market aims to enable institutions to leverage tokenized real-world assets as collateral for accessing DeFi liquidity. Grayscale believes that regulatory clarity surrounding digital assets and tokenized securities will be instrumental in driving the adoption of these products, consequently boosting loan growth and protocol revenues.

    Further catalysts identified by Grayscale include the continued development of GHO, the implementation of the Umbrella safety module, the forthcoming V4 protocol architecture, and the launch of a simplified Aave App designed to attract a broader, mainstream user base. Grayscale’s valuation model suggests that AAVE’s current market price reflects relatively modest long-term earnings growth, despite strong sector tailwinds. Regulatory uncertainty remains a primary reason for AAVE trading at a discount when compared to fintech companies with similar lending and revenue-generating profiles.

    In a significant development last month, Aave Labs announced that its UK-based subsidiaries, Push Labs Ltd. and Push Virtual Assets Ltd., secured registration from the UK Financial Conduct Authority (FCA) to operate as crypto asset exchange providers. This approval also permits the companies to issue electronic money under the UK’s Electronic Money Regulations 2011.

    According to Aave Labs, these registrations are crucial for establishing regulated crypto services and payment infrastructure, including solutions for on- and off-ramping stablecoins. Founder Stani Kulechov stated that these approvals will facilitate the direct integration of traditional fiat currency into the Aave ecosystem through a zero-fee on-ramp. He further indicated that these FCA approvals are part of Aave’s broader regulatory engagement across Europe, which includes pursuing a MiCA license in Ireland.

  • OpenRouter’s Fusion Offers Claude-Level AI at Low Cost as Fable 5 Disappears

    OpenRouter’s Fusion Offers Claude-Level AI at Low Cost as Fable 5 Disappears

    OpenRouter has launched an API built on a straightforward premise: that a carefully orchestrated ensemble of less expensive AI models can rival the performance of a single, high-cost one. The benchmark for this “expensive” model is Anthropic’s Claude Fable 5.

    The new product, named Fusion, operates by sending a user’s prompt to multiple AI models simultaneously. A designated “judge” model then analyzes these parallel responses to identify consensus points, discrepancies, and omissions. Finally, a “synthesizer” model compiles this analysis into a single, coherent, and well-supported answer.

    This launch arrives at a particularly opportune moment. Just last week, following the release of Fable 5 and Mythos 5, a U.S. export control directive compelled Anthropic to suspend access to these models for all non-U.S. individuals globally, citing a contentious jailbreak finding. OpenRouter seized on this development, posting to X the following day and directly addressing the resulting void with a promise of “Fable-level intelligence at half the price.”

    Introducing Fusion

    Fusion, the company’s new offering, is positioned as the most intelligent compound model currently available on the market, capable of delivering Fable-level intelligence at a significantly reduced cost.

    How Fusion Works

    When a prompt is submitted to Fusion, OpenRouter dispatches it concurrently to a selected group of AI models. Each model in this panel is equipped with web search and bash tool capabilities.

    Following the initial response generation, a judge model scrutinizes each output, pinpointing areas of agreement, identifying contradictions, and noting any gaps in the information. Once this analytical phase is complete, a synthesizer—by default, Claude Opus 4.8—constructs the final answer, ensuring it is grounded in the preceding analysis.

    The entire process is managed server-side. Users can opt for a default model panel by setting their model string to “openrouter/fusion.” Alternatively, they can integrate Fusion as a tool within their own model calls for selective use, or even construct custom panels through a no-code interface in the Fusion chatroom.

    Performance Benchmarks

    OpenRouter subjected Fusion to testing on DRACO, a benchmark developed by Perplexity that utilizes real-world user research requests. In these tests, a panel comprising Fable 5, OpenAI’s GPT-5.5, and synthesized by Opus achieved a top score of 69%. A solo Fable model scored 65.3%, though it failed to complete 10% of its tasks due to its own content filters.

    Of particular note is the performance of a more economical combination: Gemini 3 Flash, the open-source Chinese models Kimi K2.6 and DeepSeek V4 Pro, all fused and synthesized by Opus. This ensemble reached 64.7%, outperforming solo GPT-5.5 (60%) and solo Opus 4.8 (58.8%) and coming within one percentage point of Fable’s score, all at approximately half the cost.

    Even a configuration pairing Opus 4.8 with a separate instance of itself yielded a score of 65.5%, a 6.7-point improvement over solo Opus. OpenRouter attributes roughly three-quarters of this gain to the synthesis process itself, with the remainder stemming from genuine model diversity.

    One unexpected issue arose when granting the panel live web access: models surfaced DRACO’s own grading rubric within search results, a potential contamination risk that OpenRouter described as coincidental rather than intentional. The issue was resolved with a single configuration change to exclude the benchmark’s hosting domains from the search tools, and all published figures reflect this corrected run.

    OpenRouter acknowledges that Fusion is not a complete substitute for Fable. DRACO’s benchmark excludes long-horizon tasks, an area where Fable is reportedly still superior. For coding tasks, Fusion functions as a tool that a coding model can call selectively, rather than a wholesale replacement. This caveat mirrors findings from Decrypt’s testing of DeepClaude, a cheaper backend alternative that maintains Claude Code’s agent loop but still lags behind Opus on the most demanding reasoning tasks.

    For everyday operations, standard models remain sufficient. Fusion is designed for queries where a single model might overlook crucial details, and where multiple perspectives can provide a more comprehensive and accurate outcome.

    The platform appears particularly beneficial for in-depth research, complex planning, or any scenario where identifying and resolving contradictions is paramount.

    The accompanying charts clearly illustrate a key takeaway: for these types of tasks, relying solely on an expensive, single model is no longer the only path to achieving robust synthesis. A collective of readily accessible models, when fused together, can now deliver comparable results at a substantially lower price point.

    Reception and Limitations

    Sentiment analysis of the launch thread indicated a roughly two-to-one positive reception. AI researcher Andrew Trask hailed the development as “a way bigger deal than it seems,” suggesting that leading AI labs will no longer hold a monopoly on cutting-edge capabilities. However, some skeptics raised concerns regarding the framing, citing poor performance in coding tasks, inadequate tool utilization, and a lack of transparency, particularly given that Fable 5 is no longer accessible for direct comparison.

    Fusion operates entirely on models routed through OpenRouter’s own infrastructure, meaning it does not resolve the underlying export control issues affecting models like Fable 5. For users impacted by these restrictions, options now include Fusion panels, backend swaps like DeepClaude, or open-weight alternatives such as GLM-5.2, which may not surpass Fable but offer a viable and cost-effective solution.

  • Kiyosaki’s Crypto and Gold Strategy: Why No Dip Buying?

    Kiyosaki’s Crypto and Gold Strategy: Why No Dip Buying?

    Kiyosaki Explains His Approach to Buying Assets Amid Market Declines

    Robert Kiyosaki, the author of the influential investment book “Rich Dad, Poor Dad,” has shared his perspective on asset acquisition, emphasizing that current prices are not the sole determinant of opportune investment timing. He elaborated on his readiness to increase holdings in Bitcoin (BTC), Ethereum (ETH), silver, and gold, even as these assets have experienced recent downturns.

    The past year has been tumultuous for investors across various asset classes. Bitcoin began the year with an ascent towards $100,000, a level it failed to breach, followed by several challenging months. The cryptocurrency’s correction reached a low of $59,100 in early June. Ethereum mirrored this trend, dropping to $1,500 a few weeks prior. While both have seen some recovery since, they remain significantly down year-to-date.

    Even traditionally stable assets like silver and gold have seen substantial losses. Silver, which traded above $120 at the start of the month, is now nearly 50% below that peak. Gold, after soaring to $5,600 per ounce, has experienced a painful crash, ending the business week below $4,160 per ounce, a correction of 25%.

    Kiyosaki contends that these price drops are not the only crucial factor. He admitted to recently making the error of allowing “price to determine reasons to buy or sell any asset.” He has since learned to prioritize understanding the “context” or environment surrounding an asset, rather than its price alone.

    The author and investor explained his shift in focus to the technical charts of Bitcoin, Ethereum, silver, and gold. He stated he “will buy when prices reverse their decline.” Furthermore, he predicted that the two precious metals are “poised for a massive rise in prices.”

    The year-to-date declines and significant drops from their respective January peaks have raised questions about the safe-haven status of both Bitcoin and gold among some analysts. Market observer Charlie Bilello recently noted the difficulty in explaining these price drops, particularly when most major stocks have seen double-digit gains.

    Bilello attributes a significant portion of this movement to investor rotation, with capital shifting towards the technology sector, largely driven by the artificial intelligence boom. He suggested that investors are favoring assets with earnings momentum over stores of value that offer negligible yield.

  • Bitcoin Price Plunge Risk: Top Corporate Buyer Turns Seller

    Bitcoin Price Plunge Risk: Top Corporate Buyer Turns Seller

    Bitcoin’s Next Major Downturn Could Come From Its Biggest Corporate Buyer

    Bitcoin’s next significant price decline may not originate from miners, exchange-traded fund (ETF) outflows, macroeconomic data, undisclosed large holders, or even geopolitical instability. Instead, the cryptocurrency’s largest and most prominent corporate purchaser could become the catalyst if it transitions from a consistent buyer to a recurring seller, a scenario many critics and experts have long feared.

    In light of these concerns, we sought the perspective of ChatGPT on the potential threat and the possible downside for Bitcoin if the company, Strategy, begins liquidating its cryptocurrency holdings to cover dividends or other operational expenses.

    Peter Schiff, a vocal critic of cryptocurrencies, is not alone in raising alarms about Strategy’s approach to funding its Bitcoin accumulation through its STRC (perpetual preferred stock). Earlier reports highlighted warnings from popular crypto analyst Kaleo, who suggested the company might need to sell at least 50,000 Bitcoin over the next two years to meet dividend obligations and other financial commitments.

    ChatGPT cautioned that if the largest corporate holder of Bitcoin begins to offload substantial portions of its reserves, beyond the 32 units sold several weeks ago, the immediate market reaction could send the asset plummeting towards multi-year lows of $52,000. This represents a baseline scenario, a preliminary shockwave. A more profound correction, driven by a significant erosion of confidence in Strategy’s capital structure, could potentially push Bitcoin down to $45,000.

    The artificial intelligence model indicated that while it is highly improbable Strategy would divest “hundreds of thousands of coins,” the primary risk to Bitcoin’s price lies in a fundamental shift in market narrative.

    “For years, Strategy served as the market’s most dependable corporate Bitcoin buyer,” ChatGPT explained. “When Bitcoin experienced dips, investors anticipated that Michael Saylor’s company would raise capital and increase its holdings, establishing a psychological floor. If the market begins to believe that Strategy must sell Bitcoin to service its financial instruments, that floor could rapidly transform into resistance.”

    STRC, also known as Stretch, is the company’s variable-rate perpetual preferred stock. In essence, investors purchase STRC to receive a cash yield, while Strategy utilizes the capital raised to bolster its Bitcoin-centric balance sheet. The instrument is designed with a stated value of $100.

    The company possesses the ability to adjust the dividend rate to maintain STRC’s trading price close to this $100 benchmark. When the shares trade at or above $100, the model functions as intended: Strategy can issue additional preferred shares through at-the-market programs, generate cash, acquire more Bitcoin, and sustain its operational cycle.

    However, when the $100 par value is breached, the structure faces significant challenges. At current prices below $90, STRC is no longer behaving as a stable, high-yield instrument. Instead, it is trading at a substantial discount relative to the level the firm aims to maintain, creating a cascade of issues.

    Strategy’s capacity to issue more STRC is diminished, as selling new shares below the intended $100 threshold would contravene the product’s design or signal that investors are demanding a considerably larger discount.

    Furthermore, the dividend rate may need to be increased to attract new buyers. Critically, instead of allocating proceeds from STRC to acquire more Bitcoin, Strategy might be compelled to tap into its cash reserves, sell common stock, or, as previously indicated, sell Bitcoin holdings to ensure timely dividend payments.

  • Bitcoin Activity Surges Amidst Price Plunge

    Bitcoin Activity Surges Amidst Price Plunge

    Bitcoin Network Activity Surges Amidst Price Slump

    Despite Bitcoin trading at a significant discount, nearly 50% below its all-time high of $126,080, the cryptocurrency’s network is experiencing a surge in transaction activity.

    Data compiled by crypto analytics firm CryptoQuant reveals a consistent upward trend in network activity since January 2026. This activity has recently reached its highest point since late 2024, now standing just 7% shy of the peak levels recorded in September 2024.

    “This above-trend reading has been sustained for several weeks and marks the first positive activity regime since mid-2024, contrasting sharply with Bitcoin’s ongoing bear market price decline,” CryptoQuant stated in its analysis.

    Both total and daily average transaction counts have approached record highs, according to the firm. This comes after a period of contraction in network activity that began in December 2024.

    However, the economic value of these burgeoning transactions is notably diminished. “The economic content of these transactions differs materially from prior high-activity periods,” the report emphasizes.

    Transaction cohorts involving less than 0.01 BTC and less than 0.001 BTC have both seen substantial increases. Collectively, these small-value transactions now account for approximately 80% of daily transactions, a significant jump from 44% in 2023, according to CryptoQuant’s data. The firm interprets this as an indicator of “protocol-driven activity,” which sustains high transaction volumes but at a lower value per transaction.

    Further supporting this notion of protocol-level activity is a concurrent rise in the use of “OP_RETURN.” This field within Bitcoin transactions allows users to embed additional information. The byte limit for this field was removed last year following a contentious debate.

    “Usage has spiked to near-record levels in 2026,” the analytics firm noted, citing Bitcoin NFT activity and time-stamping services as examples of OP_RETURN applications. “These protocols generate high volumes of dust-value transactions, directly explaining the low-value cohort surge.”

    While its network transaction count is on the rise, Bitcoin’s price has not followed suit. BTC has seen a 17% decline in the past 30 days, with recent trades occurring around $63,865.

  • XRP Faces Weekly Rejection: What’s Next for Ripple?

    XRP Faces Weekly Rejection: What’s Next for Ripple?

    XRP Faces Persistent Selling Pressure, Key Support Levels Tested

    XRP continues to struggle against both the U.S. dollar and Bitcoin, trading within a persistent bearish pattern. While buyers have managed to defend crucial support zones in recent weeks, the overall trend has yet to signal a definitive reversal, with the token remaining below key moving averages and a descending trendline resistance.

    XRP/USD Dynamics

    On the USDT pair, XRP is confined within a large descending channel that has dictated price action since the latter half of 2025. A recent downturn saw the asset retreat to a critical support zone near $1.1, where buying interest has once again emerged to stave off a steeper decline. This area has served as a significant demand region throughout the current correction and remains the most vital support level on the chart. A decisive breach of this zone could pave the way for a move towards the next major downside target around the $0.60 region, which represents the next discernible demand area on higher timeframes.

    On the upside, XRP faces multiple resistance layers. The upper boundary of the descending channel currently aligns with the 100-day moving average, situated around $1.35. Higher still, the 200-day moving average sits at approximately $1.75. Beyond these technical indicators, the significant supply zone at $2.5 remains the pivotal level that buyers must reclaim to shift the long-term structure in their favor.

    Meanwhile, overall momentum remains subdued. Although the Relative Strength Index (RSI) has stabilized above oversold territory, it has yet to exhibit the bullish divergence or strength typically associated with a sustainable trend reversal. As long as XRP remains below the descending channel resistance and major moving averages, the broader market structure will continue to favor sellers, despite recent stabilization.

    XRP/BTC Performance

    The BTC pair presents a similarly cautious outlook, underscoring XRP’s ongoing relative weakness against Bitcoin. Following an extended decline within a descending channel, XRP/BTC has recently entered a consolidation phase above a key support area around 1,720 SATs. This level has been tested multiple times since May and continues to attract demand, forming the base of the current trading range.

    However, despite holding support, buyers have repeatedly failed to achieve a sustained breakout above the nearby resistance zone around 1,850 SATs. This area coincides with the 100-day moving average and has acted as a ceiling throughout June. A loss of the 1,720 SATs support floor could expose the next major demand area significantly lower, around 1,500 SATs. Conversely, a successful breakout above the 1,850 SATs level could open the possibility of a move towards the next resistance region near 2,000 SATs, where further supply is expected to emerge.

    Ultimately, the BTC pair suggests that XRP has yet to establish meaningful relative strength, reinforcing the cautious sentiment observed on the USDT chart. Until buyers reclaim nearby resistance levels and break the broader descending structure, rallies are likely to be interpreted as corrective moves rather than the commencement of a new bullish trend.

  • Pi Price Recovers from Support Amidst Pi Network Warning

    Pi Price Recovers from Support Amidst Pi Network Warning

    Pi Network Protocol Update Faces Delays, Team Urges Node Operators to Expedite

    The anticipated protocol update for the Pi Network is experiencing delays, prompting the project’s development team to call on certain node operators to accelerate their efforts to ensure its timely completion. Concurrently, the network’s native token has shown signs of recovery, rebounding from a critical support level.

    The ongoing series of crucial protocol updates commenced in late February, with earlier versions being implemented on or ahead of schedule. However, protocol version 24 marked a departure from this trend, introducing a delay. This upgrade, primarily aimed at enhancing the underlying infrastructure supporting node operations and mainnet activity, encountered unforeseen setbacks.

    Following the completion of version 24, the team established a deadline for the subsequent update, version 25, which was slated for completion by June 18. However, well in advance of this date, the Core Team issued a warning regarding potential further delays in the required timeframe.

    Several days after the June 18 deadline had passed, the team provided an update on the status of the new version. They confirmed that the majority of Mainnet node operators have successfully upgraded to protocol version 25. The team urged those who have not yet completed the upgrade to do so “at your earliest convenience,” emphasizing that failure to comply risks disconnection from the network.

    A message posted by the Pi Network (@PiCoreTeam) on June 20, 2026, stated: “Reminder for all Pi Mainnet Node operators: The majority of Mainnet node operators have already successfully upgraded to Protocol v25. If you have not yet upgraded your node, please do so at your earliest convenience to remain connected to the network.”

    PI Token Shows Resilience Amidst Market Volatility

    The native token of the Pi Network ecosystem experienced a significant downturn in early June, coinciding with a broader market crash, and fell to a new all-time low below $0.12. In the subsequent weeks, the token attempted a recovery, nearing the $0.14 mark. However, it faced resistance at this level and yesterday tested a key support at $0.13.

    At this juncture, buying interest emerged, preventing a further decline to new lows. The PI token has since seen a daily increase of over 4%, trading at approximately $0.135. While this represents a 15% rise from its all-time low, the broader market context remains challenging, with the token showing a 95.4% decrease from its all-time high recorded in February 2025.

    Reports from yesterday indicated a promising token unlocking schedule for the upcoming month, with an average of only 4.2 million coins set to be released daily. Such a trend could potentially alleviate immediate selling pressure.

  • Hayes Sells All ETH Holdings at a Loss

    Hayes Sells All ETH Holdings at a Loss

    Arthur Hayes Sells Entire Ethereum Stake Days After Purchase, Incurring Significant Loss

    Arthur Hayes, the former CEO of cryptocurrency exchange BitMEX, has once again engaged in a rapid and reportedly unprofitable trading maneuver, this time liquidating his entire Ethereum (ETH) position just days after acquiring it. The move follows a pattern of what some observers have described as erratic crypto market activity from Hayes.

    On-chain data analyzed by Lookonchain revealed that Hayes had amassed a substantial ETH holding starting June 17. His initial purchase involved 1,400 ETH for $2.51 million. He continued to expand his stake in the following days, including another significant acquisition of 1,500 ETH for $2.63 million. In total, Hayes acquired approximately 5,900 ETH for $10.58 million, at an average price close to $1,800 per token.

    However, Lookonchain analysts reported that Hayes proceeded to sell even more than he had bought. Wallets associated with him disposed of 6,000 ETH for $10.14 million on Friday, resulting in a loss exceeding $600,000 within a matter of days. A social media post from Lookonchain highlighted the situation, stating, “Arthur Hayes (@CryptoHayes) is buying high and selling low again.”

    The swift sale and subsequent loss have drawn sharp criticism from the crypto community, particularly given Hayes’ recent history of allegedly promoting altcoins only to sell them shortly thereafter. Many comments on social media platforms expressed disapproval of his trading strategy.

    Interestingly, while many altcoins Hayes has recently offloaded have seen price declines, Ethereum has shown resilience. Since his average selling price, ETH has seen a slight increase, trading above $1,720.

    Meanwhile, other significant market players appear to be accumulating ETH. Data from the same monitoring resource indicates substantial inflows into private wallets. A wallet linked to K3 Capital withdrew 10,000 ETH, valued at over $17 million at the time of reporting, from Binance. Separately, a wallet associated with Chun Wang purchased and transferred 7,650 ETH, worth approximately $13 million, out of the world’s largest cryptocurrency exchange.

    These large-scale acquisitions are occurring as analysts continue to debate whether Ethereum, the second-largest cryptocurrency by market capitalization, is approaching a potential bear market bottom. Some market watchers believe that ETH may find its floor sooner than Bitcoin.

  • Schwab to Launch S&P 500 Prediction Markets with Cboe

    Schwab to Launch S&P 500 Prediction Markets with Cboe

    Charles Schwab Eyes Prediction Markets with S&P 500 Wagers

    Financial services behemoth Charles Schwab is preparing to enter the rapidly growing prediction markets sector, according to a report from The Wall Street Journal.

    The discount brokerage had signaled its intentions earlier this year during its first-quarter earnings call, with CEO Rick Wurster stating the company would “likely have prediction markets.” Wurster, however, differentiated these offerings from those focused on sports, politics, and entertainment, emphasizing a focus on financial market outcomes.

    Sources familiar with the matter told The Wall Street Journal that Schwab will facilitate contracts through Cboe Global Markets, enabling users to place wagers on the performance of the S&P 500, the widely followed index representing the largest publicly traded U.S. companies.

    These new markets are expected to function similarly to asset price markets offered by existing prediction platforms like Kalshi and Polymarket. In these models, participants are presented with a binary choice: whether an asset will finish above or below a specified price. For instance, on Myriad, a product from Decrypt’s parent company Dastan, users can bet on whether Bitcoin will trade above or below a certain price on a given day and time.

    Schwab is also reportedly planning a feature called the “Plus Zone.” This would reward users based on how closely the S&P 500’s closing price aligns with the market’s target number, offering a discounted payout even for predictions that are only partially correct.

    The new prediction markets are slated for launch in the coming months. The report suggests that Schwab may eventually expand these offerings to include other indexes and key financial benchmarks.

    This move follows Schwab’s recent expansion into cryptocurrency. Last month, the firm launched spot trading for Bitcoin and Ethereum for a select group of its retail customers, a rollout that began after a successful internal pilot program. Further expansion to more customers is anticipated in the coming months.

    With $11.8 trillion in total customer assets, Charles Schwab has also expressed interest in the stablecoin market. CEO Rick Wurster indicated last July that offering stablecoins is “something we do want to be able to offer.”

    Shares of Charles Schwab Corporation (SCHW) closed down nearly 3% on Thursday, trading around $91.70. U.S. markets will be closed on Friday in observance of the Juneteenth holiday.