Novig sues Wisconsin over sports prediction contracts

Prediction market operator Novig has sued Wisconsin Attorney General Josh Kaul and state gaming administrator John Dillett, seeking to stop Wisconsin from applying its gambling laws to sports event contracts traded on the companys federally regulated exchange.  Ludlow Exchange LLC, which operates as Novig, filed the 45-page complaint on Aug. 14 in the U.S. District Court for the Western District of Wisconsin. Novig wants preliminary and permanent injunctions and a declaration that federal commodities law preempts the Wisconsin statutes when applied to its event contracts.  Novig argues CFTC oversight overrides Wisconsin law  Novig‘s case rests on the Commodity Exchange Act. The company argues that its sports contracts are federally regulated derivatives and that Congress placed transactions on designated contract markets within the Commodity Futures Trading Commission’s exclusive jurisdiction. That is Novigs legal position, not a finding already made by the Wisconsin court.  JUST IN: Novig sues Wisconsin, arguing sports contracts are swaps and should fall under the CFTCs exclusive jurisdiction. If upheld, this could sharpen regulatory focus on prediction markets $NOVIG pic.twitter.com/znnsWmNd8U  — Bpay News (@bpaynews) August 17, 2026  The CFTC formally designated Ludlow Exchange as a designated contract market on June 16. Its approval requires compliance with the Commodity Exchange Act, CFTC regulations and the

08-17انڈسٹری

Ethereums Vitalik backs Bitcoin-inspired scaling model

Ethereum co-founder Vitalik Buterin credited Bitcoin developers on Aug. 16 for work on Utreexo while describing a proposed Ethereum scaling direction that could combine UTXO-style state, conventional dynamic state and models between the two.  In an X post, Buterin called it the “current proposed Ethereum scaling strategy,” making clear that the architecture remains under development.  Buterin said the goal is to let most Ethereum activity scale much further without sacrificing decentralization, censorship resistance or ease of running nodes. His comments do not mean Ethereum has decided to replace its account model with Bitcoins UTXO architecture. The relevant designs remain research proposals rather than approved protocol changes.  Bitcoiners deserve a lot of credit for pioneering many of these ideas (see Utreexo).  But yes, this is what the current proposed Ethereum scaling strategy looks like in action.  We want Ethereum to have the best of UTXO-style state, dynamic state, and everything in between,…  — vitalik.eth (@VitalikButerin) August 16, 2026  Bitcoins Utreexo offers a model for reducing node state  Utreexo was introduced by MIT Digital Currency Initiative researcher Thaddeus Dryja in 2019. Instead of requiring a validating node to locally hold the full Bitcoin UTXO set, the design represents that set with a compact hash-based accumulator. Transaction inputs carry inclusion proofs

08-17انڈسٹری

MiCA scam warnings rise as 1,000+ firms lose EU access

MiCA migration scams are targeting European crypto users after the European Unions final grandfathering period ended on July 1, forcing unauthorized crypto asset service providers to wind down covered services and move customers toward licensed firms or self-hosted wallets.  ESMAs June statement requires unauthorized providers to stop onboarding new EU clients and limit activity to an orderly exit.  The regulator also tells customers to check whether a provider appears in its official MiCA register before moving assets. European watchdogs now say fraudsters are exploiting those genuine migration messages by impersonating regulators and licensed exchanges and directing users to fake websites, wallets or platforms.  MiCA deadline created a new migration attack surface  The scale of the migration is large, but the numbers require qualification. A widely repeated estimate of more than 1,700 unlicensed platforms came from data provider VASPnet, not ESMA. CoinDesk cited that estimate alongside ESMA register data showing 323 authorized crypto companies in a late-July snapshot.  EU Regulators Warn of MiCA Migration Scams as 1,700 Crypto Platforms Halt EU Services  More than 1,700 unlicensed crypto platforms were required to stop serving EU users after MiCA took full effect on July 1, while only 323 firms held valid MiCA authorization at the time,… pic.twitter.com/jLa2Kwc9qE  — Wu Blockchain

08-17انڈسٹری

Bitcoin tops $64,000 in Asia morning hours as HYPE jumps 8% on the week

SummaryBitcoin hovered around $63,300 in Asian trading, little changed on the day and lower on the week, as cryptocurrencies stayed stuck in a tight range despite a softer dollar and reduced expectations for Federal Reserve rate hikes.Hyperliquids HYPE token was the standout performer, gaining more than 3 percent on the day and nearly 9 percent over the week, while other major tokens such as ether, solana and XRP saw modest moves and mostly weekly declines.Analysts say fading optimism, weaker exchange-traded fund inflows and uncertainty ahead of this weeks Fed minutes and a White House crypto meeting are keeping crypto markets subdued despite a more supportive macro backdrop.  Bitcoin crossed $64,000 in Asian morning hours Monday, up half a percent on the day but down almost 3% over the week, as a softer dollar and fading rate-hike bets failed to lift crypto out of its recent range.  Hyperliquids HYPE was the standout, up over 3% to $59 and almost 9% on the week, the only major with a meaningful weekly gain. Ether rose over 1% to just under $1,900 but is down 1% over seven days.  Dogecoin added almost 1% to 7 cents, tron under half a percent to just over 33 cents and

08-17انڈسٹری

SNDK stock perpetuals hit $1.73B open interest

Sandisk-linked perpetual futures have become the crypto markets largest equity perpetual trade, with aggregate SNDK open interest reaching $1.73 billion on Aug. 17 across 32 tracked venues.  SummarySNDK stock perpetual open interest reached $1.73 billion, ranking first among equity-linked perpetual contracts globally.Twenty-four-hour SNDK perpetual volume reached $2.51 billion, nearly eight times Microns comparable $320 million volume.SKHX open interest climbed to $1.35 billion, narrowing SNDKs lead from earlier reported comparisons substantially.Jane Street disclosed 7.41 million Sandisk shares, representing exactly 5.0% beneficial ownership in July 2026.Cboe and MIAX records identify major market makers supporting SNDK-related options across multiple traditional venues.  The position puts SNDK ahead of other stock-linked contracts including SK Hynix and SpaceX as crypto exchanges expand around-the-clock derivatives tied to traditional assets. Loris Tools latest data was updated at 02:57 UTC.  Trading activity has accelerated even faster. Aggregate 24-hour SNDK perpetual volume reached $2.51 billion, up 248% from the previous 24-hour period and ranking fourth among all perpetual assets tracked by Loris behind only Bitcoin, Ethereum and Solana. Micron-linked perpetuals generated about $320 million over the same snapshot, meaning SNDK volume was nearly eight times higher.  You might also like:  Binance bStocks tops $610M, overtakes xStocks within two months  SNDK open interest leads a fast-changing stock

08-17انڈسٹری

Kraken parent Payward revenue rises 17% as trading volume falls in Q2

Kraken parent Payward reported $508 million in adjusted revenue for the second quarter, up 17% year over year despite a decline in crypto spot trading and overall transaction volume.  According to Fridays earnings report, total transaction volume fell 13% year over year to $310 billion, while funded accounts increased 42% to 6.6 million.  Payward remained adjusted EBITDA positive at $23 million. Asset-based and other revenue accounted for 60% of total revenue, up from 55% a year earlier, as the company generated a growing share of its revenue outside transaction-based activity.  Payward said growth in traditional futures, equities and tokenized equities helped offset weaker crypto spot activity. The company also said it gained spot market share for a third consecutive quarter.  The results come as Payward has expanded beyond spot crypto trading over the past year into equities, tokenized stocks, pre-IPO exposure and futures.  The company has also broadened its financial infrastructure business through acquisitions including futures trading platform NinjaTrader in May 2025 and regulated derivatives exchange Bitnomial the following year, as well as its more recently announced deal to acquire Magic Labs wallet infrastructure business.

08-17انڈسٹری

Chainalysis sues US over $95M ICE contract with TRM Labs

Blockchain analytics company Chainalysis has sued the United States government over an Immigration and Customs Enforcement (ICE) decision to award a sole-source contract to competitor TRM Labs.  On July 27, Chainalysis Government Solutions filed the challenge in the US Court of Federal Claims. The relevant motion became publicly accessible through CourtListeners RECAP archive on Sunday.  A federal award notice values the contract at about $94.6 million and says it covers forensic software and support services for Homeland Security Task Force investigations. The one-year award runs from July 1, 2026, through June 30, 2027.  Chainalysis alleged that ICE‘s decision was “arbitrary, capricious, and unreasonable.” It said it had submitted a capability statement in response to ICE’s notice of intent to obtain forensic software and support services from TRM.  Both companies provide blockchain analytics tools that government agencies use to trace cryptocurrency transactions and investigate crime.  According to the motion, the complaint remains under seal because it contains Chainalysis confidential and proprietary information and trade secrets. The court granted Chainalysis permission to maintain the complaint under seal on July 31.  TRM intervened in the case on July 28. The court has scheduled responses from the government and TRM for Friday and oral argument for Sept. 2. The government

08-17انڈسٹری

Chainalysis sues U.S. over $94.7M TRM Labs contract

Chainalysis Government Solutions has taken the U.S. government to the Court of Federal Claims over a $94.7 million Immigration and Customs Enforcement contract awarded to rival blockchain intelligence company TRM Labs.  The case, Chainalysis Government Solutions, LLC v. United States, No. 26-1067C, was filed July 27. TRM Labs has intervened on the government‘s side. The court’s July 31 order confirms Chainalysiss complaint was permitted to remain under seal and establishes an expedited briefing schedule.  Chainalysis challenges a $94.7 million sole-source award  Public procurement records show ICE awarded TRM Labs contract 70CMSD26C00000005 on July 1 for analytical support to the Homeland Security Task Force National Coordination Center Cyber Disruption Center. The contract is worth up to $94.66 million and runs through June 30, 2027. Records classify it as not competed, using sole-source procedures with one bid received.  ICYMI: Chainalysis sued the government over a sole-source contract that went to TRM Labs instead.  Chainalysis (through its government arm) says DHS/ICE skipped normal competition and handed the work straight to TRM. Theyre asking the court to stop it.   The full complaint is…  ICE had announced its intention in June to obtain the services from a single source. Its procurement notice said the agency determined that only one source was

08-17انڈسٹری

SanDisk Stock Locks In $94B Backlog, Targets 80% Margins by 2030

SanDisk (NASDAQ: SNDK) stock rose nearly 14% on August 13 after the company disclosed a $93.9 billion customer backlog and set a target of 80% non-GAAP gross margins through fiscal 2030 at its Investor Day.  Speaking in Manhattan, Chairman and CEO David Goeckeler framed the event as proof that his 18-month turnaround plan is finally paying off, addressing skepticism that had built up after a rough six weeks for the stock.  The Spinoff Behind SanDisk Stocks AI Boom  SanDisk completed its split from Western Digital in February 2025 and began trading independently in late February, becoming a standalone NAND flash and solid-state drive maker just as artificial intelligence (AI) data centers began driving unprecedented demand for high-speed storage.  Sponsored  Sponsored  The latest news and stock pop comes from customers that have already signed contracts to buy $93.9 billion of SanDisks chips over the next several years. This is prompting Goeckeler to target a 80% gross margin, meaning SanDisk aims to keep $80 of every $100 in sales as profit.  The stock is up more than 571% so far this year, even after a sharp July pullback that briefly wiped out much of the SanDisk stock margin target optimism BeInCrypto covered days before this rally.  That surge tracks a

08-17انڈسٹری

Bitcoin to $1M by 2030 is ‘mathematically impossible’ says Markus Thielen

The numbers behind the oft-cited prediction that Bitcoin will reach $1 million by 2030 simply dont add up, according to Markus Thielen, head of research at 10x Research.  “It‘s mathematically impossible,” Thielen tells Cointelegraph on Trade Secrets, arguing that Bitcoin’s historical capital inflows over the past 15 years fall far short of the amount it would need to attract over the next four years to reach $1 million. “We have seen $1 trillion US dollars of inflow to bring the market cap really to $1 trillion. To $1 million [per] Bitcoin. Its 15x, I think, from here,” Thielen says.  At the time of publication, Bitcoins market cap is around $1.28 trillion, with its price trading at $63,868, according to CoinMarketCap.  Thielen estimates that Bitcoin would need to attract another $15 trillion in capital to reach a per Bitcoin price of $1 million. This is equivalent to roughly 25% of the US stock markets total value flowing into Bitcoin over the next four years.  “It would require trillions,” says Thielen  “It takes trillions and trillions of dollars to move the price really materially higher, and thats why we are not as bullish as those arguments which we think are totally mathematically unrealistic because it would require

08-17انڈسٹری
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