Labubu Meme Coin Skyrockets in Value As Stores Pull Labubu Dolls Over Safety Concerns

Wintermute, a major market maker in the crypto industry, has been providing liquidity on prediction markets, including Polymarket and Kalshi. The firm aims to enhance the reliability of probability estimates by offering sustained two-sided liquidity, tightening spreads, and supporting larger trade sizes.

Kalshi has received approval from the CFTC to offer perpetual futures tied to Bitcoin's price in the U.S., marking a significant product expansion for the company. The move is seen as a step towards improving capital allocation and risk management for American businesses.

The SUI token, native to the Sui blockchain, has dropped 20% this week due to a network stall causing downtime for the second consecutive day. Despite being 83% off its all-time high, it remains among the five worst-performing assets in the top 100 coins by market cap.

Bitcoin ETFs have experienced significant outflows totaling $2.8 billion over nine consecutive days, with the largest single-day outflow of $733.43 million recorded recently. This trend is seen as a real directional recalibration rather than typical profit-taking.

Former Ukrainian police colonels allegedly formed a criminal gang, kidnapping crypto entrepreneurs and extorting over $2.2 million in crypto "wrench attacks." The suspects, including ex-officers and a civilian, used their law enforcement background to commit armed robbery and other crimes.

Prediction market Kalshi has filed a federal lawsuit against a Minnesota bill criminalizing prediction market operations, citing violation of the U.S. Constitution and challenging provisions on marketing and advertising. The platform has also won preliminary injunctions in New Jersey and Arizona against enforcement attempts.

Paxos Securities Settlement Company, a subsidiary of Paxos, has become the "first blockchain-native firm" to receive SEC registration as a clearing agency under Section 17A of the Securities Exchange Act. This temporary registration allows Paxos to offer complete infrastructure for clearing and settlement services in the U.S.

Strategy's perpetual preferred security, Stretch (STRC), experienced a drop to $97.11 as bitcoin fell to $73,000. STRC faces selling pressure during Bitcoin downturns and after ex-dividend dates, affecting its market price.

A new crypto-theft campaign, TrapDoor, targets developers with wallet keys, cloud credentials, and production access. The attack spreads across npm, PyPI, and Crates.io, disguising as developer tools to steal sensitive data.

The European Commission is considering taxing the gambling industry and other sectors to generate up to EUR 13.3 billion over seven years, part of the bloc's budget. This move follows a similar action taken in the United Kingdom last November, potentially impacting US tech firms.