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Polymarket to open free grocery store in New York City

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Polymarket launches on Solana through Jupiter integration

Polymarket is taking its brand offline, opening a free grocery store in New York City and backing it with a $1 million donation to fight food insecurity.

Summary

  • Polymarket will open a free grocery store in NYC on Feb. 12, open to all residents.
  • The company donated $1 million to Food Bank For New York City.
  • The move blends community support with a high-profile brand push.

Polymarket, the crypto-based prediction market platform, announced on Feb. 3 that it will open New York City’s first free grocery store later this month as part of a community-focused initiative.

The pop-up store, called “The Polymarket,” is set to open on Feb. 12 at noon ET and will offer groceries at no cost to visitors. The company said no purchase will be required, and the store will be open to all New Yorkers. Polymarket has not yet disclosed the exact location.

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Alongside the launch, Polymarket donated $1 million to Food Bank For New York City, a non-profit that supports hunger relief across all five boroughs. The company described the donation as part of its effort to give back to the city it calls home.

A physical bet on community impact

Polymarket framed the project as a “real, physical investment” in New York. The company said the store will be fully stocked and emphasized that the initiative is meant to address food insecurity rather than function as a traditional retail operation.

Food Bank For New York City said the donation will support its ongoing work to expand access to food and strengthen long-term food security. Polymarket encouraged members of the public to contribute to the organization as well.

Sources familiar with the project say the grocery store is expected to run for a limited time, likely spanning several days around the opening weekend.

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Marketing push amid rising competition

The move also comes as competition heats up among U.S.-based prediction market platforms. Rival Kalshi earlier staged a smaller free grocery giveaway in New York, prompting comparisons between the two campaigns.

Both efforts echo campaign rhetoric from New York Mayor Zohran Mamdani, who previously floated the idea of city-run grocery stores. Polymarket currently hosts active markets tied to whether such stores will open in the city by mid-2026, adding another layer of symbolism to the initiative.

The launch follows a busy stretch for Polymarket. In late January, the platform announced a multi-year partnership with Major League Soccer, becoming the league’s official prediction market partner. On Feb. 2, Polymarket integrated with decentralized exchange aggregator Jupiter, allowing users to access markets directly on Solana.

The company is also navigating regulatory pressure. A Nevada state court issued a temporary restraining order last week preventing Polymarket’s U.S. affiliate from offering certain contracts to Nevada residents, with a hearing scheduled for Feb. 11.

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Crypto World

Solana (SOL) Plunges Below $100, Bitcoin (BTC) Recovers From 15-Month Low: Market Watch

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BTCUSD Feb 4. Source: TradingView


Meanwhile, HASH and HYPE have declined the most over the past 24 hours after charting impressive gains lately.

Bitcoin’s adverse price actions as of late worsened yesterday when the asset tumbled to its lowest positions since early November 2024 at $73,000 before recovering by a few grand.

Most altcoins followed suit with enhanced volatility, but some, such as SOL, HYPE, and CC, have been hit harder than others.

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BTC’s Latest Rollercoaster

It was just a week ago when the primary cryptocurrency challenged the $90,000 resistance ahead of the first FOMC meeting for the year. After it became official that the Fed won’t cut the rates again, BTC remained sluggish at first but started to decline in the following hours.

The escalating tension in the Middle East was also blamed for another crash that took place on Thursday when bitcoin plunged to $81,000. It bounced off to $84,000 on Friday but tumbled once again on Saturday, this time to under $75,000. Another recovery attempt followed on Monday, only to be rejected at $79,000.

Tuesday brought the latest crash, this time to a 15-month low of $73,000. It has rebounded since then to just over $76,000, but it’s still 3% down on the day. Moreover, it has lost 14% of its value weekly and a whopping 18% monthly.

Its market capitalization has plummeted to $1.525 trillion on CG, while its dominance over the alts has declined to 57.3%.

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BTCUSD Feb 4. Source: TradingView
BTCUSD Feb 4. Source: TradingView

SOL Below $100

Most larger-cap altcoins have felt the consequences of the violent market crash lately. Ethereum went from over $3,000 to $2,100 in the span of a week, before bouncing to $2,280 as of now. BNB is down to $760, while SOL has plummeted to under $100 after a 7% daily decline.

Even the recent high-flyer HYPE has retraced hard daily. The token is down by 11% to $33. CC and ZEC are also deep in the red, while XMR has gained the most from the larger caps.

The cumulative market cap of all crypto assets has seen more than $70 billion erased in a day and is down to $2.65 trillion on CG.

Cryptocurrency Market Overview Feb 4. Source: QuantifyCrypto
Cryptocurrency Market Overview Feb 4. Source: QuantifyCrypto

 

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Pumpfun Unveils Investment Arm and $3 Million Hackathon

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Pumpfun Unveils Investment Arm and $3 Million Hackathon


PUMP rallied as much as 10% but erased its gains as crypto markets dipped.

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Spot Bitcoin ETF AUM Hits Lowest Level Since April 2025

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Spot Bitcoin ETF AUM Hits Lowest Level Since April 2025

Assets in spot Bitcoin (BTC) ETFs slipped below $100 billion on Tuesday following a fresh $272 million in outflows.

According to data from SoSoValue, the move marked the first time spot Bitcoin ETF assets under management have fallen below that level since April 2025, after peaking at about $168 billion in October

The drop came amid a broader crypto market sell-off, with Bitcoin sliding below $74,000 on Tuesday. The global cryptocurrency market capitalization fell from $3.11 trillion to $2.64 trillion over the past week, according to CoinGecko.

Altcoin funds secure modest inflows

The latest outflows from spot Bitcoin ETFs followed a brief rebound in flows on Monday, when the products attracted $562 million in net inflows.

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Still, Bitcoin funds resumed losses on Tuesday, pushing year-to-date outflows to almost $1.3 billion, coming in line with ongoing market volatility.

Spot Bitcoin ETF flows since Jan. 26, 2026. Source: SoSoValue

By contrast, ETFs tracking altcoins such as Ether (ETH), XRP (XRP) and Solana (SOL) recorded modest inflows of $14 million, $19.6 million and $1.2 million, respectively.

Is institutional adoption moving beyond ETFs?

The ongoing sell-off in Bitcoin ETFs comes as BTC trades below the ETF creation cost basis of $84,000, suggesting new ETF shares are being issued at a loss and placing pressure on fund flows.

Market observers say that the slump is unlikely to trigger further mass sell-offs in ETFs.

“My guess is vast majority of assets in spot BTC ETFs stay put regardless,” ETF analyst Nate Geraci wrote on X on Monday.

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Source: Nate Geraci

Thomas Restout, CEO of institutional liquidity provider B2C2, echoed the sentiment, noting that institutional ETF investors are generally resilient. Still, he hinted that a shift toward onchain trading may be underway.

Related: VistaShares launches Treasury ETF with options-based Bitcoin exposure

“The benefit of institutions coming in and buying ETFs is they’re far more resilient. They will sit on their views and positions for longer,” Restout said in a Rulematch Spot On podcast on Monday.

“I think the next level of transformation is institutions actually trading crypto, rather than just using securitized ETFs. We’re expecting the next wave of institutions to be the ones trading the underlying assets directly,” he noted.