Australian Pension Fund Eyes Bitcoin Access for Members

A "runaway bot" caused Hyperliquid’s HYPE token to spike to $98 on the Lighter decentralized exchange, sparking a debate on liquidity and transparency. The bot cleared the order book, leading to high prices and scaling issues, but no adverse effects beyond that were reported.

Trump Media and Technology Group will launch Truth Predict, a prediction market available on Truth Social, in partnership with Crypto.com. The platform aims to democratize information and empower users to engage in prediction markets on major events.

Solana has become the latest cryptocurrency to enter the ETF market, joining Bitcoin and Ethereum. The new Solana ETFs will offer investors exposure to the cryptocurrency through trading on Nasdaq and the NYSE, providing new opportunities for institutional portfolios and retirement accounts.

Coinbase's Bitcoin-backed lending product connects customers with lightly vetted capital pools, allowing them to deposit funds into decentralized finance protocol Morpho for loans or yield. Morpho's permissionless protocol raises compliance concerns due to lack of oversight like traditional financial institutions.

Circle has launched the public testnet for Arc, its open Layer-1 blockchain network designed for developers and companies to bring more economic activity on-chain. Over 100 companies across the financial and economic system, including BlackRock, Visa and Amazon Web Services, are participating in the launch, showcasing broad-based engagement and collaboration.

Prediction market protocol Myriad is expanding by launching on BNB Chain and introducing Automated Markets for faster participation. Myriad, launched by Decrypt's parent company Dastan, is aiming for a multichain future and broader Asian market access with localized experiences.

The Bank of Korea has raised concerns about stablecoins, emphasizing the importance of institutional trust for maintaining stable currency. The central bank highlighted the risks of depegging and referenced past stablecoin failures, urging traditional banks to lead stablecoin issuance.

Kalshi preemptively filed a federal lawsuit against New York regulators to prevent its sports prediction markets from being treated as illegal gambling. The company acted after receiving a cease-and-desist letter from the New York State Gaming Commission.

Legislation is being introduced by Representative Ro Khanna to prohibit elected officials from owning or creating cryptocurrencies. Khanna criticized President Trump's pardon of Binance founder Changpeng Zhao, alleging corruption and illegal financial ties. The proposed ban aims to prevent officials from engaging in cryptocurrency activities.

Traders are increasing leveraged positions in the crypto derivatives market ahead of the Federal Reserve meeting, expecting a quarter-point cut. Recent economic indicators and Fed Chair Powell's comments have influenced this anticipation, with Bitcoin's open interest reaching $37.63 billion.