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In brief Hackers exploited a compromised third-party vendor to steal about $3 million from a handful of Polymarket users. Polymarket says the issue is fixed and affected users will be fully reimbursed. It marks the platform’s second security incident in two months. One of Polymarket’s third-party vendors suffered a hack Thursday, the prediction market said, leaving its website vulnerable to an exploit that analysts said led to millions of dollars lost for users of the platform.Polymarket declined comment when reached by Decrypt, and did not say publicly which of its vendors was compromised. But the attack allowed hackers to inject…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure A coalition of US law enforcement organizations has reportedly warned that part of the Digital Asset Market Clarity Act could make it harder to pursue illicit finance cases involving crypto infrastructure. TL;DR Law enforcement groups are reportedly concerned about Section 604 of the CLARITY Act. The provision is said to protect non-custodial developers and infrastructure providers from certain liabilities. The debate highlights the tension between open-source crypto development and illicit-finance enforcement. The Dispute Over Section 604 The concern centers on whether protections for non-custodial wallet developers…

In brief Anthropic alleged that Alibaba-affiliated operators carried out the largest known AI model distillation campaign against Claude. The company is urging Congress to strengthen export controls, expand intelligence sharing, and penalize firms that engage in large-scale model extraction. The letter comes as lawmakers consider legislation targeting unauthorized access to U.S. frontier AI models. Anthropic is calling on Congress to strengthen protections against AI model distillation after claiming that Alibaba-affiliated operators carried out the largest known effort to extract capabilities from its Claude chatbot.In a June 10 letter to Senate Banking, Housing, and Urban Affairs Committee Chairman Tim Scott and…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Curaçao regulators have reportedly issued their first detailed crypto rulebook for licensed online gambling operators, setting out wallet-screening requirements and a full ban on privacy mixers by 2027. TL;DR Curaçao has reportedly published crypto compliance rules for licensed online gambling operators. The rules require wallet screening, transaction tracing, and controls around illicit finance risk. A full mixer ban is expected by 2027, which could affect crypto-native gambling platforms. A Compliance Shift For Crypto Gambling Curaçao is a major jurisdiction for online gambling operators, which makes its…

In brief SBI Holdings is buying Tokyo crypto exchange Bitbank for about $289 million, making it a wholly owned subsidiary. Combined with SBI VC Trade, it’ll hold $6.8 billion in assets and 2.92 million accounts. The deal still needs regulatory clearance and is expected to close around October. SBI Holdings, the Japanese financial conglomerate, announced Thursday that it has agreed to acquire Bitbank, a Tokyo-based cryptocurrency exchange, in a deal valued at roughly 46.7 billion yen, or nearly $289 million. The deal would make Bitbank a wholly owned subsidiary, with SBI saying the combined firm will be Japan’s largest crypto…

Strategy Inc. (MSTR) fell more than 9% at times on Thursday to its lowest level since March 2024, extending a five-day collapse of nearly 30% as Bitcoin broke below $60,000 and a securities investigation targeting the company became public. Shares of the Michael Saylor-led Bitcoin treasury company hit $85 by midday Thursday, down from above $117 at the start of the week. The stock has now shed roughly 36% over the past month — nearly double the 18.5% decline in Bitcoin over the same period. On top of this, Rosen Law Firm posted a press release saying it is investigating…

In brief Prediction market traders think Bitcoin and Ethereum are headed even lower as markets sell off. Traders now strongly favor dumps to $55,000 for BTC and $1,500 for ETH before any rebounds. The market’s near-term fate may hinge on the performance of STRC, the preferred equity offering from Bitcoin behemoth, Strategy, according to one analyst. Prediction market traders are becoming increasingly bearish on near-term price action for Bitcoin and Ethereum, expecting downwards momentum to carry them further downwards towards $55,000 and $1,500, respectively. Traders on Myriad—a prediction market platform operated by Decrypt’s parent company, Dastan—place odds of a Bitcoin dump…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure XRP has pushed into an oversold technical setup that some traders are comparing with prior cycle-bottom conditions. TL;DR XRP is testing a key support region after a sharp market pullback. Weekly RSI readings have moved into deeply oversold territory. Traders are watching whether the setup becomes a bounce signal or a continuation warning. XRP Slides Into A Key Technical Zone XRP traders are watching the weekly chart closely after the token moved into a deeply oversold technical setup. Market commentary has focused on the $1.10 region…

SBI Holdings has signed agreements to acquire all shares of Japanese cryptocurrency exchange Bitbank in a deal valued at 46.7 billion yen, or approximately $288.6 million, the companies announced on June 24.  The transaction will make Bitbank a wholly owned subsidiary of SBI Group through its investment arm, SBICAH GK. The deal represents the largest consolidation move in Japan’s regulated crypto market to date. SBI and Bitbank entered into both a basic agreement and a share transfer agreement, with the transaction structured in two phases.  SBI will acquire shares held by Bitbank’s founders and individual shareholders in August. Bitbank will…

The price of Bitcoin continued to turn lower on Thursday as Strategy’s flagship preferred stock notched another record low after U.S. markets opened.Not long after the opening bell, Stretch (STRC), the product that currently offers an 11.5% annual dividend, fell 8% to $74.13, according to Yahoo Finance. That marked a more than 25% drift from its $100 par value, which Strategy engineered the preferred stock to trade at.Meanwhile, Bitcoin plunged. The leading digital asset by market cap fell to $58,188 before ticking back up to $59,273 as of this writing, a 3.3% decrease over the past day, according to CoinGecko.…

In brief Kalshi is in talks to raise at a $40 billion valuation, per the Financial Times, nearly double the $22 billion it was valued at following last month’s $1 billion raise. CEO Tarek Mansour told CNBC the company is “thinking about” an IPO but won’t go public in 2026, with reports pointing to a 2027 or 2028 listing. The raise lands amid an escalating legal battle in the U.S. over whether prediction market sports contracts are CFTC-regulated derivatives or illegal gambling. Prediction market Kalshi is in talks to raise fresh funds at a valuation of about $40 billion, the…