Coinbase Will Launch Options Trading, Tokenized Stocks, and Borrowing Against Staked Solana

Standard Chartered's Geoff Kendrick believes the recent drop in Bitcoin's price to nearly $59,000 signals the end of the crypto winter, with a 53% drawdown from its peak in October. Kendrick points to potential peace deals and SpaceX's IPO as catalysts for the market's recovery.

Sam Bankman-Fried, FTX co-founder, failed to overturn his 25-year prison sentence and fraud conviction as federal appeals judges upheld the verdict. The judges dismissed his arguments, citing strong evidence presented during the trial.

GameStop has kept most of its Bitcoin in options contracts with Coinbase, resulting in a $369.6 million claim for repayment. The strike price on the contracts dropped to $80,000, potentially allowing Coinbase to claim the coins.

Metaplanet, a Japanese Bitcoin treasury company, is acquiring securities firm Siiibo for $13 million to develop and distribute Bitcoin-linked yield products to Japanese investors. The acquisition will lead to Siiibo Securities rebranding as Metaplanet Securities after closing in July.

The $75 billion SpaceX IPO is expected to impact crypto liquidity as retail and institutional money shifts towards securing SpaceX shares. This move may divert attention and capital away from the crypto market, affecting trading volumes and investor sentiment.

Gary Gensler, former chair of the SEC, has come out in support of states in their legal battle against the CFTC-backed prediction market industry. He argues that Congress did not authorize nationwide sports wagering under the Dodd-Frank Act, siding with Ohio and Native American tribes.

In a new study conducted in conjunction with Rutgers University professor Harry Crane, the Coalition for Prediction Markets estimates that U.S. residents have traded up to $34 billion on offshore platforms, with Polymarket accounting for the bulk of that volume. The study predicts that the offshore prediction market industry could grow to $133 billion by 2030.

LG Electronics has collaborated with Arbitrum to develop a layer-2 blockchain network for a new digital advertising platform, aiming to streamline ad transactions without traditional intermediaries. The company completed a successful pilot program and is considering launching the product later this year.

The quantum advisory council at Coinbase is stressing the importance of blockchain developers starting to prepare for a post-quantum future now. They highlighted the need to address the issue of cryptocurrencies in legacy addresses that are vulnerable to quantum attacks.

Two individuals, Ruslan Igorevich Tkachuk, 37, and Alexander Vladimirovich Ledenev, were arrested in Georgia for laundering over $389 million in Bitcoin for the AudiA6 organization. The U.S. Attorney’s Office charged them with conspiracy and sting money laundering as part of an international operation against AudiA6.