Polymarket Is Getting a Big Upgrade—Including Its Own Stablecoin

Fold has announced an agreement to issue and sell $250 million in new shares to purchase more Bitcoin. The company will sell shares to selected investors and institutions, with no set timeline for the sale. Currently, Fold's stock is trading at $4.57, down nearly 3%.

The Ink Foundation, purportedly an independent entity distinct from Kraken, will introduce the INK token for Kraken's Ethereum layer-2 network, Ink. INK, with a fixed supply of 1 billion tokens, will support DeFi on the Ink blockchain, starting with a liquidity protocol powered by Aave.

Bitcoin and Ethereum experienced drops of nearly 4% and 6.5%, respectively, in the past 24 hours following President Donald Trump's social media post hinting at potential conflict in the Middle East. Other cryptocurrencies like Solana, Cardano, and Dogecoin also saw declines.

Emma Lovett, an executive director at JPMorgan Chase, expressed concerns about the stablecoin market becoming overcrowded at the DigiAssets 2025 conference. The GENIUS Act, a bill for regulating stablecoins and digital assets, has been a driving force behind the market hype.

Meme coin investors are facing significant losses as Pepe, SPX6900, and Fartcoin drop by double digits. Technical indicators and on-chain data suggest further declines, with key support levels to watch. The broader market turmoil and geopolitical tensions are contributing to the sector's correction.

The Uniswap DAO may vote on activating a fee switch this summer, potentially bundled with a proposal for incorporating the DAO in Wyoming. The fee switch, which would share transaction fees with UNI token holders, was previously scrapped by the Uniswap Foundation.

Institutional investors in the UK are gearing up to invest in crypto exchange-traded products, with WisdomTree receiving FCA approval for Bitcoin and Ethereum ETPs. Bitcoin's volatility and lack of correlation with traditional assets make it an attractive addition to multi-asset portfolios, improving risk/return metrics.

B3, a layer-3 gaming protocol built on Ethereum network Base, acquired Andromeda Insights to expand into hardware, introducing a crypto-focused PC with a self-destruct storage drive. This move aims to capture the gaming stack and provide resources for Andromeda's product demands.

A record amount of Ethereum, over 35 million, has been pledged for network validation, reaching 28.3% of circulating supply. The number of validators earning rewards also hit a new high of 1.1 million, indicating growing confidence in Ethereum's future.

Ubyx, a startup led by ex-Citigroup executive Tony McLaughlin, secured $10 million in funding to develop a global stablecoin clearing system. The London-based company aims to address the issue of fragmentation in the stablecoin market by offering a common clearing system for multiple issuers.