Kalshi sued Minnesota while the CFTC filed against Rhode Island as legal wrangling with state-level authorities seems likely headed to the US Supreme Court.
The purchase pushed the Nasdaq-listed company ahead of Coinbase Global to become the fourth-largest public corporate holder of Ether, according to CoinGecko data.
The investment firm said nation-states and central banks are increasingly turning to assets like Bitcoin and gold as alternative settlement systems outside of US control.
Investors selling across spot, futures and ETF markets pushed Bitcoin into its monthly range lows near $72,000 but data shows retail investors buying the dip and opening longs.
OKX Ventures and KIS to invest $53 million each for a 19.6% stake in Coinone, deepening ties between traditional finance and crypto in South Korea’s tightly regulated market.
Paxos says its approval as a blockchain-focused clearing agency represents a “critical piece of financial market infrastructure” as Wall Street becomes more interested in crypto.