Michael Saylor Clarifies Strategy's Plan to Sell Bitcoin for Dividends

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.

Shares in ETHZilla surged 14% after meme stock influencer Capybara Stocks invested in the firm, urging executives to buy back shares. Following his open letter, ETHZilla sold Ethereum to repurchase shares, boosting value for shareholders.

Yuga Labs announced the opening of the Koda Nexus, a social hub in the Bored Ape Yacht Club-themed metaverse, at ApeFest in Las Vegas. The Nexus launch is part of a three-layer approach, including a gaming layer and the Otherside Development Kit for creators.

MegaETH's ICO auction was oversubscribed in just five minutes, attracting $350 million in pre-deposits with a $7 billion fully diluted valuation. Over 100,000 users completed KYC procedures for the Ethereum layer-2 network, anticipating allocations next week.

American Bitcoin (ABTC) has acquired 1,414 Bitcoin worth $163 million through strategic purchases and mining, increasing its holdings to 3,865 Bitcoin valued at about $446 million. The company's treasury approach remains aggressive despite market uncertainties and fluctuations in Bitcoin's price.

Inflows of $921 million into digital asset investment products were recorded last week, driven by optimism about potential U.S. interest rate cuts. Investor confidence was boosted by lower-than-expected consumer price index data, leading to strong trading volumes in exchange-traded products (ETPs).