Quick Summary: A bipartisan group of US lawmakers has unveiled the Public Integrity in Financial Prediction Markets Act of 2026 to ban officials from betting on prediction markets using insider information. A bipartisan group of US legislators has introduced a new bill targeting insider trading on prediction markets, marking the second such legislative effort in a single week. Senators and representatives Todd Young, Elissa Slotkin, John Curtis, and Adam Schiff announced the Public Integrity in Financial Prediction Markets Act of 2026 on Thursday. The move reflects mounting concern that platforms such as Kalshi and Polymarket could be exploited by officials…
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Quick Summary: Tether has selected KPMG to conduct a full audit of its USDT reserves and engaged PwC to prepare its internal systems ahead of a US expansion. Tether has chosen KPMG to carry out a comprehensive audit of the reserves backing its USDT stablecoin, which currently holds $185 billion in assets, according to the Financial Times. The company has also brought in PwC to assist with preparing its internal systems for the review. The dual engagement signals a significant step toward greater financial transparency for the stablecoin issuer.The decision to pursue a full financial statement audit represents a notable…
Quick Summary: A federal judge has issued a preliminary injunction blocking the Pentagon from designating Anthropic a supply chain risk, ruling the action was unconstitutional retaliation. A federal judge has barred the Pentagon from labeling Anthropic a supply chain risk, ruling that the government’s actions against the artificial intelligence company violated its First Amendment and due process rights. U.S. District Judge Rita Lin of the Northern District of California issued the preliminary injunction on Thursday, just two days after hearing oral arguments from both parties. The ruling has drawn attention from legal observers who say the government’s own internal records…
Quick Summary: David Sacks concludes his 130-day tenure as White House crypto and AI czar but remains influential as co-chair of the President’s Council of Advisors on Science and Technology. David Sacks, the venture capitalist appointed by President Donald Trump as the White House’s crypto and AI czar, has completed his 130-day tenure in that role. Speaking to Bloomberg on Thursday, Sacks confirmed the conclusion of his initial appointment, saying, “We’ve now used up that time.” He will now serve as co-chair of the President’s Council of Advisors on Science and Technology (PCAST), where he will issue policy recommendations across…
Quick Summary: Strategy CEO Phong Le says retail investors make up 80% of holders of its STRC preferred shares, which have funded over $1 billion in Bitcoin purchases. Strategy CEO Phong Le revealed on Wednesday that approximately 80% of the holders of the company’s perpetual preferred shares, known as STRC or ‘Stretch,’ are retail investors. Le noted that ‘retail investors prefer low-volatility, high-yield digital credit,’ suggesting continued appetite among everyday investors for Bitcoin exposure despite the cryptocurrency sitting roughly 45% below its all-time high. The disclosure highlights the growing role retail participants play in Strategy’s capital-raising efforts.Strategy’s executive chairman, Michael…
Quick Summary: The US Treasury announces Trump’s signature will appear on future dollar bills, marking a historic first tied to the nation’s 250th anniversary. The US Department of the Treasury has announced that President Donald Trump will become the first sitting president in American history to have his signature printed on US paper currency. The announcement was made on Thursday and is framed as a way to commemorate the 250th anniversary of the United States. Alongside Trump’s signature, that of Treasury Secretary Scott Bessent will also appear on future notes.Traditionally, US paper currency has carried the signatures of the treasurer…
Quick Summary: Rep. Maxine Waters is pressing the Kansas City Fed for details on Kraken Financial’s newly granted master account, citing regulatory and consumer protection concerns. US Representative Maxine Waters, the ranking Democrat on the House Financial Services Committee, has sent a formal letter to the Federal Reserve Bank of Kansas City demanding clarity on its decision to grant a limited-purpose master account to Kraken Financial. The letter, addressed to Kansas City Fed President Jeff Schmid, requests a response by April 10. Waters is seeking specifics on what the account allows Kraken to do, which Federal Reserve services it can…
Quick Summary: David Sacks leaves his White House crypto and AI czar role due to legal day limits and becomes co-chair of the President’s Council of Advisors on Science and Technology. David Sacks, who served as the White House’s crypto and artificial intelligence czar under President Donald Trump, has announced a change in his official role. He is stepping away from the czar position and joining the President’s Council of Advisors on Science and Technology (PCAST) as co-chair. Sacks made the announcement on Thursday via a post on X, formerly known as Twitter. The transition marks a shift in how…
Quick Summary: GameStop pledged 4,709 Bitcoin as collateral with Coinbase Credit to run a covered call options strategy, ending months of speculation about a sell-off. GameStop disclosed in a 10-K annual report filed with the Securities and Exchange Commission on Tuesday that it pledged 4,709 Bitcoin — nearly its entire holdings — as collateral under an agreement with Coinbase Credit. The filing ends roughly two months of speculation that the video game retailer had been exiting its Bitcoin position. That speculation arose in January after onchain analysts observed that GameStop had transferred its full Bitcoin holdings to Coinbase Prime.The arrangement…
Quick Summary: David Sacks has left his White House AI and crypto czar position after reaching the 130-day limit for special government employees. David Sacks has stepped down from his position as the White House’s AI and crypto czar after reaching the 130-day limit for special government employees. He confirmed his departure in an interview with Bloomberg on Thursday. Despite leaving the formal role, Sacks will remain connected to the administration as co-chair of the President’s Council of Advisors on Science and Technology, where he will advise on a wider range of technology issues.During his tenure, Sacks played a significant…
