Crypto World
Bitcoin miner turned Ethereum treasury firm stakes over $6B in ETH as BMNR shares slide and ether dips.
Bitmine Immersion Technologies (BMNR) on Monday reported purchasing nearly 51,000 more ETH tokens last week, increasing its holdings to 4.474 million.
“In the midst of this ‘mini crypto winter,’ our focus continues to be on methodically executing our treasury strategy and steadily acquiring ETH and in turn, optimizing the yield on our ETH holdings,” said Chairman Tom Lee.
The company said it now has 3,040,483 ETH staked, worth about $6 billion at current prices. Lee said annualized staking revenue stands at $172 million. At full scale, staking rewards could reach $253 million annually based on a 2.86% yield over the last seven days, Lee continued.
The company holds 4,473,587 ether (ETH), valued at $1,976 per token, along with 195 bitcoin and $868 million in cash, as well as a $200 million stake in Beast Industries and a $14 million investment in Eightco Holdings. Bitmine said its ether position represents 3.71% of Ethereum’s 120.7 million token supply.
Lee added that the firm is developing its Made in America Validator Network, or MAVAN, a staking platform slated for launch in early 2026. Bitmine said it is working with three staking providers as it builds the network.
While US Senate lawmakers have been working to pass a comprehensive digital asset market structure bill since July, some industry observers in Washington say progress could be “on hold” due to government gridlock.
Since the House of Representatives passed the CLARITY Act last summer and sent the legislation to the other chamber, lawmakers have faced a historically long government shutdown, partisan divides on ethics and debates over stablecoin yield that have likely slowed progress on the bill, which could be further hampered by the upcoming US midterm elections in November.
Eight months ahead of the midterms, one version of the market structure bill focused on commodities regulations has passed the Senate Agriculture Committee, while members of the Senate Banking Committee have yet to address a bill on securities laws and regulations after the panel cancelled a markup in January.
Rebecca Liao, co-founder and CEO at Web3 and AI protocol Saga and a former adviser to then-US President Joe Biden during his 2020 campaign, told Cointelegraph last week that the legislation was effectively “on hold.” She also pushed back against comments by Ohio Senator Bernie Moreno, who said in February that Congress could pass market structure “hopefully by April,” citing a lack of steam for advancing the bill.
Related: US lawmakers move to protect blockchain devs from prosecution
“Earlier, when crypto markets were doing very well, when it seemed that every TradFi institution was coming up with a crypto strategy, looking to load up on the main assets, there was a lot more urgency around any sort of new legislation or new administrative policy coming out of the SEC, CFTC, etc,” said Liao.
“But now that the markets have cooled significantly, and even people within crypto are saying ‘we don’t know, honestly, if the Trump family ended up being a good thing for crypto or not’ a lot of the wind has been taken out of the sails.”
She added:
“It is not easy to get any sort of legislation through this Congress, and when it’s on a topic that most Americans honestly still find pretty obscure, it’s even harder. And it’s an election year.”
Stablecoin debate rages, with the Trump administration in the middle
Further complicating the matter in the Senate is the debate around stablecoin rewards, which has resulted in a reported three meetings at the White House between Trump officials and representatives from the crypto and banking industries. Some in banking have argued that having the market structure bill include provisions allowing yield payments to stablecoin holders on third-party platforms could undermine the industry.
Crypto advocacy organization Digital Chamber CEO Cody Carbone spoke to Cointelegraph after attending the World Liberty Financial forum during which Moreno laid out his timeline on the bill. The trade group leader said the mood among some at the event, such as Coinbase CEO Brian Armstrong, was “very optimistic” on finding resolutions to move the bill forward, but outside of Moreno’s April goal, “there wasn’t a lot of specifics.”
The 2026 election season has already kicked off in some US states, with party primaries scheduled for Tuesday in Arkansas, North Carolina and Texas ahead of the November general election. The Senate will also likely take about a month away for a state work period in August, returning two months before the election.
Magazine: Clarity Act risks repeat of Europe’s mistakes, crypto lawyer warns
Riot stock price rose by over 1.2% on Monday as Bitcoin and other altcoins rose despite the ongoing geopolitical risks. It also rose as traders waited for its financial results.
Summary
- Riot Platforms stock rose as the crypto market rebounded.
- The company will publish its financial results on Monday.
- The stock has formed a diamond reversal pattern, pointing to a potential reversal.
RIOT stock rose to $16.50 from the intraday low of $15.45. It remains 40% above its lowest level in February, with the market capitalization soaring to over $6.14 billion.
Wall Street analysts expect the upcoming results to show that the Bitcoin (BTC) mining giant did well in the last quarter, with its revenue rising by 10% to $158 million. Its annual revenue is expected to come in at $658 million, up by 75% YoY.
The most recent showed that its revenue jumped to $180 million in the third quarter from $84 million in the same period in 2024. This growth was driven by its mining operations, whose revenue rose from $67 million to $160 million. Its engineering revenue rose to $19 million from $12 million.
Like other Bitcoin mining companies, Riot Platforms is facing major challenges as the coin remains in a technical bear market after falling by over 40% from its all-time high. As a result, it is expanding to the data colocation industry, which is booming as companies boost their capital expenditure.
It recently acquired 200 acres of land in Texas to expand its mining operations. Also, it entered a data center leasing agreement with AMD, a top semiconductor company. Its initial deal is for 25 MW of IT capacity.
Riot Platforms is under pressure from Starboard Value, an activist investor, who believes that it should accelerate its transition into a data center operator. It wants it to accelerate the rollout of its data centers, a move that will make it more attractive to hyperscalers. For example, IREN has already inked deals worth over $10 billion, while CoreWeave has a backlog of over $50 billion.
Riot Platforms stock price technical analysis
The daily chart shows that the Riot Platforms share price has rebounded from the year-to-date low of $11.85 in February to the current $16.50.
It remains between the 50% and 38.2% Fibonacci Retracement level. It also moved slightly above the 100-day Exponential Moving Average.
However, the stock has also formed a diamond reversal pattern, which often leads to a bearish breakdown.
Therefore, it will likely have a bearish breakdown after its earnings. If this happens, the next key target to watch will be the psychological level at $15.
Bitcoin price impulsive rally is approaching a dense resistance cluster, raising concerns that the move could evolve into a bull trap.
Summary
- Price testing channel high and Fibonacci resistance
- Declining volume signals weakening bullish momentum
- Rejection risks rotation toward $60,000 channel support
Bitcoin (BTC) price has staged a sharp recovery from recent lows near $60,000, pushing price back toward the upper boundary of its broader trading channel. While the rally has improved short-term sentiment, the technical landscape suggests caution.
Multiple layers of resistance now converge above price, creating conditions where upside continuation may struggle to sustain momentum.
Bitcoin price key technical points
- Channel Resistance: Price approaching upper boundary of established trading channel.
- Fibonacci Confluence: Overhead resistance aligns with key swing high and moving averages.
- Volume Concern: Declining participation signals potential bull trap formation.
Bitcoin price recent rally has carried price above the channel midpoint, signaling short-term strength within the broader range. However, the move is now testing the upper channel boundary, an area that has repeatedly capped upside since $60,000 was established as the weekly low. This level represents a key structural ceiling within the ongoing consolidation phase.
Adding to the resistance confluence is the presence of a significant Fibonacci retracement level, which overlaps with a prior swing high and descending moving average resistance. When multiple technical indicators align within a narrow price zone, markets often react decisively. In this case, the overlapping resistance cluster increases the probability of rejection rather than breakout continuation.
Volume dynamics further reinforce caution. Despite the impulsive appearance of the rally, trading volume has steadily declined as price approaches resistance. Healthy breakouts typically require expanding participation to confirm strength.
Instead, fading volume suggests that buying pressure may be weakening, a classic precursor to bull trap scenarios, particularly as roughly 46% of Bitcoin supply is currently held at a loss, nearing levels seen during the 2022 bear market.
A bull trap typically forms when price briefly breaks above resistance, attracting breakout buyers, only to reverse sharply and close back below key levels. Should Bitcoin fail to hold above the channel high and instead fall back into the channel structure, it would signal weakness and confirm the trap setup. A bearish close back within the channel would likely shift momentum downward.
If rejection occurs, the next logical destination would be the lower boundary of the trading channel. Notably, the channel support has not been retested since the $60,000 weekly low was formed. Markets frequently revisit untested support zones to rebalance liquidity before determining the next major direction.
From a broader market structure perspective, Bitcoin remains range-bound rather than in confirmed bullish expansion. Without a decisive breakout supported by strong volume, rallies into resistance carry elevated failure risk.
The confluence of Fibonacci resistance, moving averages, and structural channel highs strengthens the argument that this zone may cap upside in the near term, particularly as Bitcoin navigates a defensive liquidity backdrop amid escalating US–Iran tensions and broader market volatility.
What to expect in the coming price action
Bitcoin’s rally remains vulnerable while testing confluence resistance with declining volume. A rejection from this zone would confirm a potential bull trap and increase the probability of a corrective move back toward channel support near $60,000.
Only a strong breakout with volume confirmation would shift the outlook decisively bullish.
U.S. spot Bitcoin ETFs added 21,000 BTC worth $1.45 billion, marking the first major accumulation wave since mid-October 2025.
Spot Bitcoin exchange-traded funds (ETFs) recorded one of their best days for weeks in terms of inflows on February 25, marking their first meaningful increase in holdings since mid-October 2025.
The shift comes as analysts point to falling retail flows and heavy unrealized losses among newer buyers as signs that market structure could be turning.
The Institutional Signal vs. Retail Exit
In a March 2 market update, analyst Amr Taha tracked two key data points that suggest a major shift in how Bitcoin moves between different types of investors. The first chart tracks 30-day cumulative Bitcoin inflows to Binance, separated into retail inflows (small investor flows) and whale inflows (large investor flows).
According to the chart, between February 6 and March 2, retail inflows dropped significantly, going from $14.1 billion down to $9.05 billion, a total contraction of approximately $5 billion.
What makes this interesting, Taha explained, is that nearly identical patterns appeared twice in 2025, with retail inflows contracting by about $8 billion from March 5 to April 7 of that year and falling by around $5 billion from June 6 to June 22. In both cases, the drop in retail inflows happened right before significant market movements.
The second chart tracks the total Bitcoin held by all US spot ETFs combined. Here, Taha observed something important occurring on February 25: for the first time since mid-October, ETF holdings increased meaningfully. Approximately 21,000 BTC flowed into the funds, equivalent to $1.45 billion at current prices, marking what Taha called the first noticeable accumulation wave after months of stagnation.
“Historically, rising ETF demand tends to be constructive for price, while declining demand often aligns with price weakness,” the crypto trader noted.
However, data from SoSoValue and FarSide show a different number. Both sites claim that the actual net inflows on February 25 were just over $500 million, or almost three times less than what Taha suggested. Nevertheless, it was still the best day for net inflows since mid-January.
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Market Situation and Sentiment
The broader backdrop for this on-chain signal has been brutal, with Bitcoin posting five consecutive monthly losses for the first time since 2018, after ending February with a nearly 15% drop. The asset is currently trading just above $66,000, down by over 20% in the past month and sitting 47% below its October 2025 all-time high.
Analyst Crypto Dan offered additional context on market psychology, noting that most investors who purchased Bitcoin within the past two years are currently in loss positions.
“In the investment market, sharp reductions often follow when the majority of people are making big profits, and conversely, strong rallies tend to begin after most people experience significant losses,” he pointed out.
Dan suggested that if Bitcoin’s price drops below $60,000, putting the majority of investors (excluding very long-term holders) into loss territory, it could represent an accumulation opportunity for those with clear entry criteria.
As it is, Taha’s data suggests institutional buyers are already making that calculation, even as retail traders step back.
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Fold, a publicly traded Bitcoin financial services company, has eliminated $66.3 million in convertible debt, removing a potential source of share dilution and simplifying its balance sheet as it prepares to expand its product lineup.
In a recent disclosure, Fold said it retired two outstanding convertible notes, which are debt instruments that can be converted into equity at a later date. By paying them off, the company reduces the risk that new shares would be issued in the future, which may dilute existing shareholders.
Fold also said it released 521 Bitcoin (BTC) that had been pledged as collateral against the debt. With the notes retired, those Bitcoin holdings are no longer encumbered and can now be used for corporate purposes.
The company said the restructuring leaves it with fewer financing restrictions and greater operational flexibility. Fold plans to use that flexibility to support growth initiatives, including the rollout of a consumer-targeted Bitcoin rewards credit card that offers BTC instead of traditional points or cash-back rewards.
Founded in 2019, Fold went public on the Nasdaq in February 2025 through a SPAC merger with FTAC Emerald Acquisition, becoming one of the first Bitcoin-focused financial services companies to trade on a major US exchange.
Related: ProCap boosts Bitcoin holdings to 5,457 BTC, aims to narrow NAV discount
Crypto rewards cards compete for users
Fold built its brand as a Bitcoin rewards platform, offering a debit card that allows users to spend US dollars while earning Bitcoin cashback on everyday purchases. Over time, the company expanded its services to include savings features and merchant partnerships aimed at encouraging Bitcoin accumulation rather than direct crypto spending.
Competition is fierce in the crypto rewards space, with a number of other companies offering similar products.
The Coinbase Card, for example, allows users to spend cryptocurrency balances directly and earn crypto rewards on purchases. It is now part of Coinbase’s broader “super app” strategy announced last fall, which aims to integrate payments, trading and other financial services into a single platform.
Rival offering Nexo Card lets customers borrow against their crypto holdings to make purchases without selling their assets, while earning rewards. Bybit and Crypto.com offer Visa-branded cards that provide cashback in crypto tokens tied to their platforms.
More recently, Mastercard and MetaMask launched a US crypto-linked card that allows users to spend digital assets at any merchant that accepts Mastercard, with crypto converted to fiat at the point of sale.
Related: PayPal draws takeover interest following 46% stock slide: Report
TLDR
- Turkey proposed a new bill that introduces a 10% tax on cryptocurrency income and gains.
- Lawmakers stated that platforms must withhold the tax on a quarterly basis for all users.
- The bill allows the president to adjust the withholding rate between 0% and 20%.
- Service providers would pay a 0.03% transaction tax on every crypto trade they facilitate.
- Authorities confirmed that tax enforcement will rely on detailed records kept by platforms.
- The bill connects all crypto definitions to the existing Capital Markets Law for consistency.
Turkey’s ruling party advanced a new plan that would introduce a 10% tax on cryptocurrency gains, and lawmakers presented the draft to parliament as they moved to update current tax laws while outlining new rules for service providers.
Proposed Crypto Tax Framework
Turkey introduced a draft bill that creates a new structure for crypto taxation, and lawmakers placed the proposal before the Grand National Assembly as they sought clear rules for the sector. They stated that platforms regulated under the Capital Markets Law must withhold a 10% tax on quarterly income and gains, and officials confirmed that this applies to residents and non-residents.
The bill grants the president the power to adjust the withholding rate, and officials said it could move between 0% and 20% depending on asset type. They also linked the tax rate to holding periods and wallet usage, and they highlighted that different token categories may face different rules.
The legislation introduces a 0.03% transaction tax for service providers, and it applies to the sale amount or market value of assets. Lawmakers said this measure covers platforms that facilitate trades, and they reported that brokers must maintain detailed records.
Authorities emphasized that incomplete user information may trigger enforcement, and the tax agency would pursue shortfalls directly from the user. The bill ties terms such as “crypto asset,” “wallet,” and “platform” to existing financial regulations, and it ensures consistent definitions across the law.
Market Context and International Comparisons
Chainalysis reported that Turkey recorded $200 billion in crypto activity between July 2024 and June 2025, and analysts stated that rising volumes followed economic pressure in recent years. They wrote that Turkey’s economic conditions pushed many users toward digital assets, and the report said people used crypto for alternative savings.
Turkey experienced inflation that peaked at 85% in late 2022, and the rate later stabilized near 30% by early 2025. Officials believe tax reform can support regulatory oversight, and they said the new framework aims to match existing market behavior.
Lawmakers referenced international trends, and they pointed to a Dutch plan that proposed a 36% capital gains tax on digital holdings. They acknowledged that the Dutch proposal awaits a Senate vote, and they said the measure could start in 2028.
The Turkish draft includes a VAT exemption for crypto deliveries covered by the transaction tax, and lawmakers confirmed that service providers fall under the updated expenditure rules. They also stated that foundation university hospitals will lose corporate tax exemptions in 2027, and they kept this clause in the broader bill.
TLDR
- Chainlink enabled the transfer of Coinbase’s cbBTC to Monad through its CCIP system.
- The integration opened new access to Bitcoin-backed liquidity for developers building on the Monad Foundation network.
- Early adopters such as Curvance and Neverland prepared markets built around cbBTC on Monad.
- Coinbase confirmed that cbBTC remains backed 1:1 by Bitcoin held in custody across multiple networks.
- CCIP now supports more movement of tokenized Bitcoin and enables new trading and lending products on high-speed systems.
The update links Coinbase’s cbBTC with Monad through Chainlink’s CCIP, and the move expands access to Bitcoin-backed liquidity while it also provides developers a direct route to build new on-chain financial products across the network.
Chainlink Expands cbBTC Access Through CCIP
Chainlink enabled the transfer of Coinbase’s cbBTC to Monad through its CCIP system, and the rollout opened new routes for Bitcoin-backed liquidity across DeFi. The network confirmed the integration on March 2, and it stated that it aims to support developers building on fast-settlement environments.
The bridge now moves cbBTC from Base to Monad, and users can place the asset in lending or trading markets without delays. Curvance and Neverland adopted the token early, and the two platforms plan to deploy structured products built around cbBTC.
Coinbase issues cbBTC with a 1:1 Bitcoin backing, and the asset holds more than $5 billion in circulation across multiple chains. The supply spans Ethereum, Base, Arbitrum, and Solana, and the new pathway expands distribution further into high-speed environments.
Chainlink said CCIP has processed over $28 trillion in on-chain value, and the protocol uses a standardized security model for cross-chain transactions. “The system moves assets with institutional-grade protection,” said Johann Eid, and he emphasized that the design supports broad multi-network activity.
Keone Hon of the Monad Foundation said the integration gives developers a strong base asset, and he stated that builders gain faster ways to expand Bitcoin-based markets. The network expects growing use cases that center on automated routing and high-frequency strategies.
cbBTC Liquidity Extends to Monad
cbBTC now enters markets that target high-speed settlement, and developers can design products that use Bitcoin-backed liquidity with lower fees. The network targets up to 10,000 transactions per second, and it aims for sub-second finality.
The integration creates access to deeper liquidity pools, and teams can design derivatives tied to Bitcoin prices with improved execution. Lending markets will also expand, and early platforms have begun preparing launch timelines.
Users gain additional ways to earn returns on Bitcoin-backed assets, and some current cbBTC markets already offer returns near 3%. The new route brings that activity to Monad, and teams intend to scale borrowing products around the asset.
The addition of cbBTC also increases available capital for automated trading programs, and developers gain predictable settlement times. This pairing aligns with the network’s push toward capital-intensive applications, and builders will test new strategies anchored to Bitcoin.
Monad now receives more than $5 billion in potential inflows from cbBTC, and teams across the ecosystem expect rising on-chain liquidity as markets expand access to Bitcoin-backed instruments.
Strategy (MSTR), the world’s largest publicly traded corporate holder of bitcoin, expanded its position last week by acquiring 3,015 BTC for approximately $204.1 million, or an average price of $67,700 each.
Bitcoin is trading at $66,000 on Monday morning, with MSTR shares flat in early action.
To fund the buys, Strategy raised roughly $229.9 million through common stock sales, along with $7.1 million in net proceeds of its Variable Rate Series A Perpetual Stretch Preferred Stock, STRC, according to a Monday filing.
Following the latest purchase, the company now holds 720,737 BTC acquired for roughly $54.77 billion, or an average price of approximately $75,985 per coin.
Magic Eden is winding down its Ethereum, Polygon, and Bitcoin NFT marketplaces to pivot resources toward its Solana operations and growing iGaming platform, Dicey.
The decision, confirmed by CEO Jack Lu, is that the platform will cease support for non-Solana chains by early April 2025, following a broad collapse in cross-chain trading volumes.
- Magic Eden will terminate support for Bitcoin and EVM marketplaces starting March 9, with full wallet shutdowns scheduled for April 1.
- The pivot follows internal data showing Solana markets account for over 85% of volume while multi-chain maintenance costs remained high.
- Resources will be reallocated to Dicey, a crypto gambling platform that processed $15 million in wagers during its closed beta.
In his post, CEO Jack Lu outlined a phased sunset for EVM and Bitcoin-based Runes and Ordinals markets.
Trading support will end on March 9, followed by the Bitcoin API on March 27. The platform’s crypto wallet will switch to an export-only mode in the middle of March before a full shutdown on April 1.
Lu stated the company is “doubling down” on Dicey, citing a “massive opportunity” in the intersection of finance and entertainment. The casino platform’s closed beta recently saw 200 users wager over $15 million in just two months.
The strategic shift mirrors a broader trend where crypto funds and companies are diversifying revenue streams; for instance, venture firm Paradigm plans to expand into AI and robotics to capture value beyond traditional digital assets.
Magic Eden plans to replicate this diversification by launching a sportsbook to compete with blockchain gambling heavyweights like Stake.
Discover: The next crypto to explode
Falling NFT Volume Forces Strategic Realignment
The retreat from multi-chain operations reflects a stark consolidation of NFT liquidity on Solana.
Despite raising over $130 million to expand support for Ethereum and Bitcoin Ordinals, market data indicates that Solana assets continued to drive over 85% of the platform’s trading volume in late 2024.
While Ethereum retains dominance in stablecoin infrastructure, its NFT sector has suffered prolonged decline, making the maintenance of cross-chain compatibility technically burdensome for decreasing returns.
Lu noted that the shift was ultimately driven by the fact that most of the platform’s non-Solana products were not contributing significantly to revenues.
The marketplace had briefly ranked No. 1 globally in early 2024 following its Bitcoin expansion, but sustained engagement failed to materialize as the Ordinals and Runes hype cycles cooled.
Going forward, the platform will exclusively focus on NFT packs that bundle random assets, attempting to gamify the remaining trading experience.
Will Magic Eden Exit Cause Token Volatility and Liquidity Concerns?
The announcement precipitated severe volatility for the ME token, which reportedly fell nearly 2.5% in the last 24 hours, although this was broadly in line with Ethereum’s losses over the period.
The exit also leaves a significant vacuum in the Bitcoin Ordinals market, which may strengthen competitors like OKX and UniSat that remain committed to the Bitcoin ecosystem.
Magic Eden’s long-term valuation now hinges on its ability to convert NFT traders into active gamblers on Dicey.
The platform’s user retention metrics after April 1 will be most insightful; if the pivot fails to capture the high volume gambling cohort, the total loss of the multichain user base could isolate the protocol from future liquidity cycles on Bitcoin and Ethereum.
Discover: The best Solana meme coins
The post Magic Eden Winds Down EVM and Bitcoin NFT Markets in Strategic Pivot appeared first on Cryptonews.
Prediction market Kalshi apparently allowed traders to bet on the ousting of Iranian Supreme Leader Ayatollah Ali Khamenei, racked up $54 million in trades, then voided the result the moment he was killed in a US-Israeli airstrike.
Kalshi listed its “Ali Khamenei out as Supreme Leader?” prediction market contract before he was killed on Saturday.
Although a fiery death at the business end of a US or Israeli missile would certainly, in most people’s eyes, count as being “out,” Kalshi’s rules technically contained a death carve-out.
Specifically, the fine print specified that if Khamenei’s removal happened via death, the contract wouldn’t pay out.
Traders were predictably furious. “Getting rugged on a 100% correct prediction because of a fine-print ‘death carveout’ is wild,” one user wrote on Kalshi’s Discord.
“What you’re doing is stealing,” wrote another.
Critics accused Kalshi of trying to have its cake and eat it too by platforming a contract in the first place that involved bets on human death, then hiding behind compliance language when reality hit.
It had the option all along to not list the market for trading, after all. It decided to list it and accept trades.
Using crypto to profit from death
Even though the market involved potential death, Kalshi promoted it on social media for days. Users wagered $54 million on it.
US Senator Chris Murphy called it “insane this is legal.”
Ex-SEC Chief of Staff Amanda Fischer told NPR that prediction markets are “promoting opportunities to bet on events that can only be seen as a proxy for war or assassination… this betting market shouldn’t exist in the first place”
Six Democratic senators had already urged the CFTC in late February to ban contracts tied to anyone’s death. Wagers on Khamenei’s killing made their letter prophetic.
On Polymarket, Kalshi’s less-regulated offshore competitor, the numbers were uglier.
Roughly half a billion dollars changed hands on contracts tied to when US forces would strike Iran which, again, has obvious ramifications on human life.
Crypto keeps building death markets
Sadly, crypto wagers on death are nothing new. Early concepts of cryptographic assassination markets have circulated since at least a 1995 essay by cypherpunk Jim Bell.
In 2018, crypto prediction platform Augur launched with assassination markets appearing almost immediately.
Read more: Lord Miles wants YouTubers to help settle Polymarket scandal
In September 2025, Polymarket hosted a multimillion-dollar market on whether YouTuber Lord Miles would survive a 40-day desert fast . Trading odds crashed when fears spread that he had actually died.
Hivemind progenitor Paul Sztorc repeated his multi-year call for a “fully peer-to-peer prediction market system that cannot be shut off by anyone under any circumstances.”
More recently, in January 2026, an anonymous Polymarket trader made $400,000 on a suspiciously well-timed bet on Venezuelan leader Nicolás Maduro’s downfall.
In February, Israeli authorities indicted two people for using IDF classified information to bet on Polymarket during military conflict last June between Israel and Iran.
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