Charles Schwab to Add Solana, Avalanche and Chainlink to Crypto Trading Platform
Adoption
”Months after rolling out Bitcoin and Ethereum trading on its platforms, Charles Schwab is ready to expand its spot crypto listings. On Thursday, the firm announced plans to add Solana, Avalanche, and Chainlink to the Schwab Crypto platform. The additions are part of Schwab’s plans to 'thoughtfully expand' its digital asset offering with established cryptocurrencies that align with client demand. These new digital assets will be available 'in the coming months' for clients to buy and sell, the investment manager said in a release. The move expands Schwab's push into a market where traditional brokerages are increasingly competing for crypto investors. While platforms such as Coinbase and Robinhood offer access to a broader range of digital assets, Schwab has taken a more measured approach, initially launching direct trading for BTC and ETH before adding three of the largest established cryptocurrencies outside those two assets.”
Source: The Block
Crypto Custodian Firm BitGo to Buy NYDIG's Institutional Trading Business
Mergers & Acquisitions
”BitGo has agreed to buy NYDIG's institutional trading business, a source familiar with the matter said, as the crypto custodian pushes to strengthen its foothold in trading infrastructure. With the acquisition, about 30 NYDIG employees are expected to join BitGo, alongside 250 institutional client relationships. The deal will add derivatives, structured products, financing and other capital markets services to BitGo's existing custody, settlement and wallet infrastructure units. Cryptocurrencies have started to gain mainstream prominence, benefiting from the Trump administration's friendly stance on the asset class.”
Source: Reuters
Mirae Asset Maps Out $109 Billion Digital Asset Push With Digital X
Tokenization
”South Korea's Mirae Asset Financial Group plans to build a 150 trillion won ($109 billion) digital asset business centered on Digital X, according to The Korea Times. Park Hyeon-joo, Mirae's founder and chairman, outlined the ambition at an employee event in Seoul on Wednesday titled 'A New Voyage Begins, Together,' per the report. Mirae Asset is also considering up to 300 billion won ($218 million) in additional capital for the business. The group may pursue a 200 billion to 300 billion won third-party allotment in the first quarter of 2027, depending on the pace of earnings improvement. The group aims to turn the digital asset business profitable by 2027, Park said.”
Source: The Block
U.S. Servicemember, KPMG Employee Are Targets of Prediction Markets Crackdown
Prediction Markets
”Federal authorities are preparing charges against a U.S. servicemember suspected of placing Polymarket bets on military operations that earned him more than $1 million, part of a coming batch of insider trading cases, according to people familiar with the matter. The serviceman, who has been under scrutiny since the spring, made successful bets related to military strikes in Iran and Venezuela on the prediction market, the people said. It is one of several investigations that have looked at members of the armed forces who traded war contracts that referenced the timing and outcome of military operations. ”
Source: The Wall Street Journal
Connecticut's New Lawsuit Against Kalshi Piles on to Prediction Market Legal Fight
Legal
”Nearly half of the states in the U.S. have picked a legal fight that poses an existential challenge to the prediction markets, with a new lawsuit from Connecticut adding to the mix. So far, local and federal courts have produced a mixed bag of decisions on halting platforms such as Kalshi, a leading name in the U.S. That company is often in the middle of legal fights, and it said in an online posting on Thursday that the result of its battles so far 'is currently close to 50-50.' Connecticut had already been in a dispute with Kalshi since late last year, when the New England state ordered the company to shut down its sports betting, asserting that the activity violated the state's gambling regulations. Kalshi sued Connecticut to try to stop the order and initially lost, though the firm appealed to the Second Circuit Court of Appeals.”
Source: CoinDesk
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Notable Events Next Week
- Tue: Euro Area CPI – EU
- Tue: US ISM Manufacturing PMI – US
- Thu: US ISM Services PMI – US
- Fri: US Jobs Report – US
Themes of the Week
Tweet of the Week
https://x.com/Cointelegraph/status/2092609417321603396
