The recent investment of up to $2 billion in Polymarket by Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, marks a significant step in the integration of decentralized finance (DeFi) into the financial mainstream. This partnership not only positions ICE as a global distributor of Polymarket's event-market data but also paves the way for the tokenization of financial assets on a grand scale. Legal and financial professionals should take note of this development as it may signal a shift in market behavior and regulatory considerations.
In the realm of cryptocurrency, the recent market correction has led to a significant liquidation of leveraged crypto positions. Despite this downturn, analysts view it as a healthy correction and anticipate a potential rebound if key support holds. This highlights the importance of risk management and strategic planning in navigating the volatile crypto market.
On the regulatory front, the trial of two men in Scotland accused of planning to steal a significant amount of cryptocurrency underscores the growing threat of crypto robberies. Legal professionals should be aware of this trend and consider its implications for compliance and risk management.
Institutional demand for Bitcoin and Ethereum continues to rise, with Bitcoin ETFs attracting between $5 billion and $10 billion per quarter and over 10% of Ethereum's circulating supply now locked in ETFs and treasuries. This trend reflects a shift in traditional finance's interaction with cryptocurrencies and could have significant implications for fund structuring and institutional investment strategies.
Finally, the potential for Apple to provide access to certain iCloud data to the UK government raises important questions about data privacy and security for crypto users. Legal and financial professionals should monitor this situation closely as it could have far-reaching implications for compliance and risk management in the crypto space.
The following article summaries have been sourced from Decrypt, CryptoSlate, NewsBTC, and Crypto Briefing. Each summary includes a direct link to the original source.
Polymarket, a leading prediction market platform, has secured an investment of up to $2 billion from the New York Stock Exchange’s parent company, Intercontinental Exchange (ICE). The investment values Polymarket at $9 billion and positions ICE as the global distributor of Polymarket's event-market data. The deal comes as Polymarket prepares for a regulated U.S. relaunch following its acquisition of QCX/QC Clearing and a no-action letter from the Commodity Futures Trading Commission (CFTC) that clears near-term listing mechanics.
Polymarket and ICE's partnership is seen as a significant step in bringing prediction markets into the financial mainstream and a monumental step forward for decentralized finance (DeFi). ICE, the last remaining founder-led exchange company, plans to use its assets, including the NYSE, to usher in a new financial era of tokenization. The partnership will also see ICE distribute Polymarket data to thousands of financial institutions worldwide. The integration of Polymarket's odds into ICE's data distribution network means brokers, quant desks, risk systems, and analytics platforms will be able to access live event probabilities alongside equities, rates, and FX data, powered by Polymarket.
The cryptocurrency market experienced a pullback on Wednesday, leading to $635 million in liquidations over the past 24 hours. Analysts attribute this short-term pressure to profit-taking, gold's rebound, and a stronger dollar. Despite the downturn, they view this as a healthy correction, with a potential target of $132,000 to $135,000 if key support holds. Bitcoin's retreat from record highs triggered a liquidation event, wiping out nearly $500 million in leveraged long positions. At the time of publication, Bitcoin's price was down 1.2% over the past 24 hours and nearly 3% from its $126,080 record high set on Monday. Ethereum's losses outpaced those of Bitcoin, with ETH trading down 4.6% on the day.
The market correction led to the closure of over $635 million in total leveraged crypto positions across exchanges in the past day, of which $489 million were long positions. Ethereum longs bore the brunt of the downturn, at $142 million, surpassing Bitcoin's $114 million in long liquidations. Ryan Lee, chief analyst at universal exchange Bitget, attributes the sell-off to a combination of factors, including profit-taking after a 10% rally over the last two weeks. He also pointed to the rebound of gold and a stronger dollar as contributing factors. Despite the short-term pressure, Lee views the drop as a healthy correction, predicting another 3% to 4% drop before prices stabilize and attempt a breakout above $126,000.
Long-term drivers for Bitcoin remain intact, with analysts pointing to a persistent "debasement trade" fueled by rising fiscal deficits and a search for assets immune to government mismanagement. This continues to support the bullish narrative for Bitcoin. Austin King, Co-Founder of unified decentralized finance trading terminal, Nomina, expects Q4 to be an "exciting quarter for the crypto industry," as investors increasingly turn to Bitcoin as a hedge against global political instability.
Two men in Scotland, Robert Barr and Barry Letham, are set to stand trial for allegedly plotting to steal almost $23 million in cryptocurrency. The duo is accused of identifying targets known to own significant amounts of cryptocurrency and discussing methods for transferring crypto. Some of the planning was allegedly conducted while at least one of the two accused was in prison in Edinburgh. The pair are also included in charges related to a separate robbery at a residence in Scotland, where they and several other men allegedly stole a cryptocurrency wallet, jewellery, electrical items and a key. Both Barr and Letham also face charges that they had planned an additional theft at the same property, aiming to steal a significant sum of cryptocurrency. The two men have pled not guilty to the charges against them, with their trial set to begin in September 2026.
The trial comes amid growing awareness of the threat posed by crypto robberies. Crypto holders are increasingly becoming targets of so-called "wrench attacks", where they are physically threatened. According to Marilyne Ordekian, a lawyer and PhD Candidate at UCL’s Information Security Research Group, such attacks are increasing in frequency in parallel with rises in the price of Bitcoin. These incidents are more common in areas with higher rates of self-custody, where criminals believe victims hold significant assets outside traditional banking systems. However, not all wrench attacks are successful, with UCL research finding that about a third did not result in crypto being stolen. Ordekian also notes that such attacks “are often underreported” for various reasons, including a fear among victims that they may be targeted again.
Bitcoin exchange-traded funds (ETFs) are attracting between $5 billion and $10 billion per quarter, reflecting an accelerating institutional demand for the cryptocurrency. Bitwise CTO Hong Kim has described this trend as unstoppable, even by the four-year cycle, predicting a bullish 2026. The inflows are indicative of a shift in traditional finance's interaction with Bitcoin, which was once dismissed as speculative. Now, regulated investment vehicles are absorbing the cryptocurrency, providing predictable and sustained liquidity. As a result, global crypto funds, including those focused on Bitcoin and Ethereum, have crossed $250 billion in assets under management (AUM), demonstrating institutional faith in digital assets as part of diversified portfolios.
The steady influx of institutional capital is not only driving prices but also reshaping Bitcoin’s supply dynamics. Bitwise’s European Head of Research, André Dragosch, revealed that institutions acquired 944,330 BTC in 2025, surpassing the 913,006 BTC accumulated in 2024. This institutional purchasing has outpaced new supply by approximately 7.4 times. This shift in demand and supply dynamics began in 2024 when the US Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs. The approval led to a structural shift where demand from regulated funds exceeded supply, reversing a trend of low institutional participation due to uncertainty and lack of oversight from 2020 to 2023. The entry of BlackRock through its iShares Bitcoin Trust epitomized this change, encouraging other major firms to follow suit. With inflows showing no signs of slowing, analysts expect Bitcoin’s supply crunch to deepen, transforming Bitcoin from a speculative asset to a global financial instrument with enduring institutional demand.
The United Kingdom is considering measures that could force Apple to provide access to certain iCloud data. This move has raised concerns among crypto users who store their wallets on iPhones and Macs. If the UK removes end-to-end protections for device backups and common file stores, seed phrases and private key material could potentially be accessed through lawful processes or a Technical Capability Notice. A renewed Technical Capability Notice has been issued to Apple by UK authorities, focusing on iCloud access for UK accounts. However, Apple has not yet commented on this order.
In February, Apple withdrew its Advanced Data Protection for UK users, which typically extends end-to-end encryption to categories such as device backups, iCloud Drive, Photos, and Notes. However, iCloud Keychain remains end-to-end encrypted by default, and Apple maintains that it has never built a backdoor for its products. Crypto wallets do not exclusively reside within iCloud Keychain. Users often store screenshots of seed phrases in Photos, write down recovery words in Notes, or keep wallet app data inside a device backup. When Advanced Data Protection is not available, these categories revert to Apple-held keys, which can be decrypted after authentication or under a lawful order.
The UK's changes do not affect iCloud Keychain, but they do impact content outside of it. Past incidents have shown that wallet vaults written to iCloud backups can be phished and drained. The Online Safety Act codes of practice provide Ofcom with the power to propose and accredit technology measures, including client-side scanning approaches, and to oversee how services comply. While the specifics of any new UK mandate remain confidential until implemented, the regulatory direction is clear enough for users and developers to update their threat models now. The broader market context shows that a UK policy change could have implications beyond the UK, as Apple and Google control the mobile stack for nearly all users.
Institutional demand for Ethereum has reached new heights in this market cycle, with spot Ethereum exchange-traded funds (ETFs) and Digital Asset Treasury Companies (DATCOs) now controlling over 12.5 million ETH, which is approximately 10% of the token's circulating supply. This is a significant increase from April when these institutions collectively held about 4 million ETH, less than 3% of the total supply. This rise reflects the growing interest of institutional capital in Ethereum through regulated ETFs and on-chain treasury allocation, driven by the growth of the network fundamentals in tokenized assets and stablecoins.
Data from Strategic ETH Reserve shows that Ethereum ETFs currently hold 6.92 million ETH, valued at about $30.76 billion. The assets are distributed across nine products from eight issuers, with BlackRock leading the pack, managing over 4 million ETH worth $17.6 billion. Meanwhile, Ethereum-focused DATCOs collectively hold 5.66 million ETH, equivalent to 4.68% of the circulating supply and valued at $25.19 billion. This figure underscores Ethereum's growing prominence as a corporate treasury asset, second only to Bitcoin in institutional accumulation. Despite some criticism from industry experts, asset management firm VanEck has argued that the strong wave of institutional adoption shows that ETH is a stronger contender to Bitcoin in the race for dominance as a store of value.
The article profiles Christian, a seasoned crypto journalist at NewsBTC, who has dedicated his career to breaking down the complexities of the cryptocurrency market for the masses. Christian's journey began in academia, where he developed a love for storytelling and honed his writing skills. His career path led him through various roles in journalism, including stints at newspapers in Canada and South Korea, before he settled at a local news giant in his hometown in the Philippines.
Christian's interest in the world of cryptocurrency led him to NewsBTC, where he has become a trusted source for crypto information. His ability to simplify complex crypto concepts has made him a valuable asset to the team. Outside of work, Christian is a passionate motorbike enthusiast and a pet lover, with two cats and a dog at home. He believes that a good meal and a relaxing environment, including spending time with his pets, contribute to his ability to produce high-quality articles. Despite his busy schedule, Christian sees a bright future with NewsBTC and appreciates the opportunity to share his expertise with a community he values.
Dogecoin, the meme-inspired cryptocurrency, has historically shown a pattern of outperforming its previous cycle's performance during bull markets, leading to some of the most notable rallies in the crypto space. This pattern has led crypto analyst Dima Potts to predict a potential 37x rally for Dogecoin in the current bull cycle, based on the coin's previous cycle performances. Each rally has typically been triggered when Dogecoin's price breaks out of a descending trendline that starts from the peak of the last cycle.
In 2017, a breakout from this trendline led to a sharp increase in Dogecoin's price over the following months, culminating in an 83x rally by the end of the 2018 bull market. A similar breakout in 2021 resulted in a 183x rally by year's end. Potts suggests that Dogecoin is currently nearing the end of another descending trendline, with a breakout potentially imminent. If the price closes a week above $0.41, Potts believes the trend will be confirmed.
In the most optimistic scenario, Potts suggests that the price could follow the trend of each cycle's explosion being higher than the last, implying a possible 283x return. However, he takes a more conservative stance, predicting a 37x rally from the price at which Dogecoin started 2025, which would put the price at $11.71, given that Dogecoin started the year at $0.31.
Keshav, a senior writer at NewsBTC, has been contributing to the platform since June 14, 2021. With a background in various niches, including fiction, Keshav has found a long-term attachment to the cryptocurrency industry. He holds a bachelor's degree in Physics from the University of Delhi, a pursuit that was initially intended to lead to a career in Physics. However, the onset of COVID-19 and the shift to online classes allowed him to explore other interests, leading him to a career in writing.
Keshav's interest in blockchain and its concepts began in 2020, and he has since been fascinated by on-chain analysis. His scientific background drives him to ensure clarity and consistency in his writing, often explaining indicators in detail to enhance reader understanding. Outside of his professional life, Keshav is passionate about football, anime, and video games. He is also a fitness enthusiast, incorporating agility and acceleration-related workouts into his routine due to their relevance in football.
Bit Digital, a NASDAQ-listed company, has significantly increased its Ethereum holdings to a total of $673 million. This increase was achieved by the acquisition of an additional 31,057 ETH. The company has recently transitioned its business model from Bitcoin mining to a focus solely on Ethereum staking and treasury operations.
The shift in Bit Digital's operations aligns with the growing trend of institutional adoption of Ethereum for corporate treasuries. More companies are leveraging blockchain assets for passive income strategies, with Ethereum seeing a surge in corporate treasury adoption due to its potential for staking-focused assets. Bit Digital's treasury strategy now emphasizes Ethereum staking as a core operation, positioning the firm as an Ethereum-centric entity poised to capitalize on network rewards.
Spot silver has reached a price of $49 per ounce, the highest it has been since April 2011. This surge in price is due to a combination of a supply deficit and increased interest from investors. The ongoing supply deficits have contributed to the upward price momentum seen in recent trading sessions. Additionally, the metal has seen a surge in trading activity, with futures traders engaging in battles over short positions.
Investors are increasingly viewing silver as a hedge against economic uncertainties. Market discussions have emphasized its role in portfolios, often alongside gold. The precious metal has garnered attention from both the industrial and investment sectors. The $49 level is a significant milestone for silver, which had not reached this price point in over 14 years. Market participants are positioning silver as a strategic metal in the current supply-demand dynamics.
An early Bitcoin adopter has sold 3,000 BTC for a total of $363.87 million USDC, pricing each Bitcoin at $121,291. This transaction follows a previous one where the investor sold 35,991 BTC to acquire 886,371 ETH. These transactions are part of a broader trend where Bitcoin whales are diversifying their holdings by converting them into other digital assets.
Recent activity indicates that long-term Bitcoin holders are increasingly diversifying their portfolios by rotating into Ethereum and stablecoins. USDC, a stablecoin, has become a popular choice for cryptocurrency whales seeking quick liquidity during large trades. This is because it provides immediate access to dollar-denominated value without the volatility associated with other crypto assets.
