Crypto Industry News & Market Trends

Goldman Sachs' $2.25B NEOS Deal Hands It Ready-Made Bitcoin Income ETF Business

In briefGoldman Sachs agreed to acquire NEOS Investments in a deal worth up to $2.25 billion, adding about $30 billion in options-based income ETFs—including one of the markets largest Bitcoin covered-call funds.The purchase gives Goldman a ready-made crypto income ETF business, a far faster path than its own April filing for a Bitcoin Premium ETF that some analysts saw as an attempt to leapfrog a similar BlackRock product.The move rides a boom in derivative-income ETFs—roughly $180 billion in assets and a 70%+ annual growth rate since 2021, per Morningstar—with crypto an increasingly prominent slice.　　Goldman Sachs is buying its way into crypto income funds, striking a deal worth up to $2.25 billion to acquire NEOS Investments, the ETF specialist behind one of the markets largest Bitcoin covered-call products.　　The Wall Street firm said Tuesday the cash-and-equity purchase, contingent on certain performance and service targets, will fold NEOSs roughly $30 billion in options-based income ETFs into Goldman Sachs Asset Management.　　Myriad: Will the Clarity Act be signed into law in 2026？ Click to make your prediction.　　The deal is expected to close in the first quarter of 2027, pending regulatory approval. While the announcement centered on NEOSs broader derivative-income lineup rather than crypto, the acquisition

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Hyperliquid Eyes US

Hyperliquid is turning its attention toward the U.S. market, according to a recent report by The Information.　　The push comes at an important moment for the crypto industry. Hyperliquid has grown into one of the largest venues for crypto perpetual futures.　　Crypto rewards platform　　U.S. regulators are simultaneously trying to determine how derivatives, decentralized exchanges and other on-chain financial products should fit into a regulatory system largely designed around centralized intermediaries.　　The question, therefore, is not simply whether Hyperliquid wants to enter the United States. It is whether the existing regulatory framework gives a decentralized protocol a workable way to do so.　　U.S. prohibition？　　In practical terms, Hyperliquids current trading interface is closed to U.S. users. The Hyperliquid blockchain itself has been declared illegal in the United States.　　Hyperliquid is a permissionless blockchain. Its network and smart contracts are distinct from the website interface through which many users access the protocol.　　Hyperliquids terms of use identify people and entities located in or resident in the United States as “Restricted Persons” and prohibit them from using the interface.　　Perpetual futures are its most important product. In the U.S., derivatives markets are subject to an extensive regulatory framework that has been developed by the CFTC.　　The Hyperliquid Policy Center has made precisely

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Kalshi brings live market data to DoubleZero Edge

Kalshi has opened its live order book to DoubleZero Edge subscribers, providing Level 1 and Level 2 data for sports contracts and crypto perpetual futures through a dedicated fiber network.　　SummaryKalshi has become the first prediction marketto publish real-time order book data through DoubleZero Edge.The feed covers Level 1 and Level 2 dataacross sports and crypto perpetual markets.Kalshi will waive its publisher revenue share for one year, though subscribers must still pay network fees.DoubleZero plans to add historical Kalshi datain a later release without a stated launch date.　　Kalshi feed provides full order book depth　　DoubleZero Foundation and Kalshi said in an Aug. 12 announcement that the exchanges live order book is now available through DoubleZero Edge, starting with its most actively traded sports and crypto perpetual futures contracts.　　Under the rollout, subscribers can receive Top of Book and Trades information, known as Level 1 data, alongside Depth of Book information, or Level 2 data. Level 1 shows the best available bid and ask prices as well as completed trades, while Level 2 displays orders across several price levels.　　Full book depth can give quantitative firms and market makers a more detailed view of liquidity than a basic price feed. According to the companies, subscribers

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Bitcoin Flat Near $63,400 After Mild US Inflation Drop

Bitcoin stabilized near $63,400 on Wednesday following a volatile intra-day move between $63,317 and $64,400, leaving its market cap unchanged at $1.27 trillion.　　Key TakeawaysBitcoin stabilized near $63,400 Wednesday after sharp intra-day swings, holding its $1.27 trillion market cap.Total crypto market liquidations reached $153.2 million while Strategy downplayed recent token sales.Glassnode warned that low spot buyer demand leaves bitcoin wedged beneath its $68,700 cost-basis hurdle.　　Bitcoin Trades Flat Following Volatile Intra-Day Swing　　After declining for two consecutive days, bitcoin was largely flat Wednesday as the sell-off sparked by Strategys latest bitcoin sale appeared to have run its course. Market data shows that bitcoin traded mostly below $63,800 between Tuesday afternoon and early Wednesday morning. However, shortly after 5 a.m. EST, a sharp rally lifted the cryptocurrency past $64,000 on its way to a daily peak of just over $64,400.　　An equally sharp sell-off followed, pulling bitcoin down to $63,317 before it rebounded to just above $63,400. Bitcoin traded at nearly the same price level as 24 hours earlier—a rare occurrence for an asset widely considered one of the most volatile in recent years.　　The flat price action left bitcoins market capitalization unchanged at $1.27 trillion and its seven-day loss at 2%. In the derivatives market,

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Trump sued over Truth Socials early-access feed as firm explores licensing data to prediction markets

Quick TakeTruth API has signed more than 10 customers, paying between $60,000 and $100,000 per month.The plaintiffs allege the service violates constitutional protections by giving paying subscribers preferential access to official government information.　　President Donald Trump and several White House officials were sued Wednesday over a Truth Social service that gives paying customers faster access to potentially market-moving posts, all while Trump Media explores licensing the platforms data to prediction markets.　　The Intercept and Freedom of the Press Foundation filed the complaint in the U.S. District Court for the Southern District of New York, alleging the service gives subscribers preferential access to official government announcements for up to $100,000 per month.　　The lawsuit names Trump, White House Deputy Chief of Staff Dan Scavino, presidential executive assistant Natalie Harp, the Executive Office of the President and the White House Office as defendants.　　The service, known as Truth API, delivers posts from Trump and other major Truth Social accounts faster than they become available to the public. Trump Media launched the service on Aug. 1 and has signed more than 10 customer agreements, primarily with high-frequency trading firms, according to interim CEO Kevin McGurn.　　Those customers pay “in the range of $60,000 to $100,000 per month,” McGurn

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BitMart reserve doubts raise custody concerns: Arch CTO

BitMart‘s missing proof-of-reserves report and withdrawal complaints from two crypto projects have raised fresh questions about how customer assets are held during the exchange’s wind-down.　　BitMart concerns expose verification problem　　Arch Lending co-founder and CTO Himanshu Sahay said questions about withdrawals and exchange closures expose the difference between assurances offered by a platform and financial information that customers can independently check.　　“Whenever questions arise around withdrawal processing or exchange wind-downs, it points to a structural gap across digital asset markets: the difference between platform-level statements and independent verification,” Sahay said in a statement to crypto.news.　　Customers often have no real-time method for establishing whether an exchange holds their assets in segregated accounts or combines them with funds used for other operations, according to the executive. Uncertainty increases when withdrawals slow because customers must rely on the same company processing their requests for information about its financial condition.　　Sahay said the crypto industry already has tools that can reduce such uncertainty, including third-party custodians, reserve attestations, and strict asset segregation. Their value depends on whether customers can use them to verify solvency claims before operational problems emerge.　　“This isnt a new issue, but a recurring one that resurfaces whenever a platform faces operational stress.”　　BitMart stated in May

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Who Owns the Presidents Tweets？ A Federal Lawsuit Wants an Answer

The Intercept and the Freedom of the Press Foundation filed a Truth API lawsuit against President Donald Trump on Wednesday. The case asks a federal judge to decide whether the president can sell early access to his own official statements.　　The complaint, filed in the Southern District of New York, says presidential posts are government information. If that holds, no paying customer can own a bigger share of them than any other American.　　Sponsored　　Sponsored　　A $100,000 Paywall on the Presidents Posts　　Truth Social‘s parent, Trump Media s most market-moving Truths,”　　Markets often move when he posts. Subscribers, mostly high-frequency trading firms, pay $60,000 to $100,000 a month for that head start. More than 10 firms have signed up, and the feed has already earned over $1 million.　　That figure matters. Trump Media booked a $238.1 million net loss in the second quarter on revenue of just $1.7 million. At more than $1 million a month, the feed could soon out-earn the rest of the business.　　Trump is the companys largest shareholder through a trust. According to the complaint, his stake was once worth $4 billion and has since sunk to around $1 billion.　　????TRUTH API INFOMERCIAL　　(This is a real product so I made them an infomercial: Trump Media

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After Coldcard Was Hacked, $15 Billion in Bitcoin Moved to Safety

In briefThe Coldcard firmware exploit drained approximately 2,100 BTC, with losses estimated near $130 million across multiple attack waves.Onchain data from Checkonchain shows 233,000 BTC left long-term holder wallets in the days around the breach.Casa CEO Nick Neuman, citing actual customer conversations, says some of that 233,000 BTC came from Ledger and Trezor users—not Coldcard owners—who upgraded to multisig after watching the hack unfold.　　In the days after the worst hardware wallet exploit in Bitcoins recent history, Casa CEO Nick Neuman began counting more than just the BTC being drained from vulnerable Coldcard wallets.　　While attackers were draining Coldcard wallets one address at a time, 233,000 BTC—worth about $15 billion at todays prices—was quietly moving in search of safety.　　Myriad: Bitcoins next move？ Click to make your prediction.　　The massive and ongoing breach that started on July 30 has already led to close to $130 million in stolen Bitcoin from Coldcard hardware wallets—physical gadgets that store private keys entirely offline, never connecting to the internet, and made by Canadian company Coinkite.　　A firmware bug introduced in March 2021 had routed key generation through a weak software random number generator instead of the devices dedicated hardware chip. Private keys (the secret codes that prove ownership of

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Bitcoin could reach $1M by 2030, Nansen CEO says

Nansen co-founder and CEO Alex Svanevik has projected that Bitcoin could reach $1 million by 2030 while arguing that the asset may never trade below $60,000 again.　　SummarySvanevik sees $1 million Bitcoin by 2030as a plausible outcome rather than a certainty.Expanding money supply and currency debasementform the main basis of his forecast.The Nansen chief expects Bitcoins market cycles to produce progressively higher price floors.U.S. spot Bitcoin ETFs give American investors regulated accessbut remain exposed to sharp price swings.　　Monetary expansion could carry Bitcoin toward $1 million　　In a statement to crypto.news, Nansen co-founder and CEO Alex Svanevik said Bitcoins long-term value will depend largely on global liquidity, government spending, and the continued expansion of the money supply.　　Rather than pointing to one event that could send Bitcoin (BTC) to $1 million, Svanevik described the cryptocurrency as an alternative to monetary systems in which central banks and governments can create more currency. Bitcoins supply rules limit the total number of coins to 21 million, although new BTC will continue entering circulation through mining until the maximum supply is reached.　　“I think the base case for Bitcoin is basically that you get higher lows, and you do have these run-ups that happen, roughly every four years,” Svanevik

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Polymarket taps ex-Uber and Bird exec Travis VanderZanden to boost growth

Quick TakePolymarket has hired blitzscaling veteran Travis VanderZanden as chief growth officer.VanderZanden is the founder of Bird, the electric scooter-sharing startup, and a former executive at Lyft and Uber.　　Polymarket has hired Travis VanderZanden to serve as chief growth officer, Polymarket CEO Shayne Coplan announced on Wednesday.　　VanderZanden is the founder of Bird, the electric scooter sharing startup, and a former executive at Lyft and Uber.　　Bird, Uber and Lyft were all part of the so-called “blitzscaling” trend that prioritized extremely rapid growth. Reid Hoffman and Chris Yeh popularized the term blitzscaling to describe startups that raised and spent heavy amounts of venture capital to fund aggressive expansions while competing for market share.　　“From being [Travis Kalanick]s growth lead at Uber, to CRO of Yammer under [David] Sacks, to being founder and CEO of Bird (responsible for both my love of Paris and a couple bloody chins),” Coplan wrote. “When it comes to growing marketplaces, nobody does it better. This time with software instead of hardware. Welcome to the team.”　　Last year, Polymarket and its chief rival Kalshi saw neck-and-neck growth during the beginning phase of the prediction market expansion. In recent months, however, Kalshi has pulled ahead in terms of growth — largely driven

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