American cryptocurrency exchange; growing influence in crypto markets.
Recent bets on prediction platforms suggest possible insider trading related to US-Iran tensions. Multiple accounts placed highly profitable wagers on ceasefires and military actions, with analysis indicating wallet-splitting and obfuscation. Regulatory scrutiny is increasing as authorities investigate potential market manipulation.
Letitia James has filed lawsuits against Coinbase and Gemini in Manhattan, alleging their prediction markets operate illegally without licensing. The lawsuits aim to stop these platforms from operating in New York until they obtain proper licenses. The companies argue their prediction markets are federally regulated, but the state maintains they are illegal gambling exposing young users.
Bitcoin has fallen from its peak as traders weigh Strategy’s bitcoin sale and a string of AI-driven bets, with markets shifting toward IPOs and chipmakers amid broader risk-off moves.
A wave of city and state actions curbs datacenter expansion amid AI investments. Seattle and New York push moratoriums to reassess power, water use, and community impact while major employers accelerate AI spending and layoffs.