The Block
Quick Take Polymarket users have bet $101,000 that Trump will say “crypto” at the second presidential debate on Sept. 10 in Philadelphia. The prediction sits low on the list of possible mentions, comparable to the 19% odds of Trump saying “alien” three or more times during the event.
Quick Take Judge Jia M. Cobb for the U.S. District Court for the District of Columbia ordered a “temporary administrative stay,” according to an order released on Monday. The U.S. Commodity Futures Trading Commission filed a motion last week seeking an emergency stay of the judge’s decision for at least two weeks while the agency works on an appeal.
Quick Take Just as investors “zoom out” when short-term charts turn red, let’s take a broader view of the industry as a whole. This column is adapted from The Scoop newsletter.
Friend.Tech’s team renounces control of its smart contracts following stagnant growth.Bernstein analysts predict a bitcoin price of $80,000 to $90,000 if Trump wins presidential race, or $30,000 to $40,000 if Harris is elected.Solana creator platform DRiP raises $8 million in a seed round led by NFX, Coinbase Ventures and Progression — a fund started by former TikTok executives.The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Quick Take This is an excerpt from the tenth edition of The Funding sent to our verified subscribers on September 8. The Funding is a fortnightly newsletter written by Yogita Khatri, The Block’s longest-serving editorial member. To subscribe to the free newsletter, click here.
QCP Capital analysts anticipate increased crypto market volatility this week, with attention focused on Tuesday’s Trump-Harris debate and Wednesday’s U.S. CPI reading.The analysts added that derivatives market positioning indicates a continued bearish preference for puts in bitcoin and ether.
Quick Take Bitfarms rescheduled its meeting from Oct. 29 to Nov. 6 to allow shareholders to reevaluate their voting decision. Riot initially sought to buy its bitcoin mining rival in April for about $950 million.
Quick Take Onramper is launching its crypto-to-fiat solution with partners, including MoonPay and Alchemy Pay. According to Onramper, the new off-ramp service will support 46 fiat currencies and over 500 cryptocurrencies in 200 countries.
Quick Take Global crypto investment products witnessed $726 million in net outflows last week amid rate cut uncertainty, according to CoinShares. This matches the largest recorded net outflows set in March, Head of Research James Butterfill noted.
Quick Take Solana-based NFT drop platform DRiP has raised an $8 million seed round led by NFX, Progression and Coinbase Ventures. The funds will be used to bring DRiP’s mobile app to market and expand the development of its creator tools.
