XRP Marks Another Win As SEC Approves Grayscale’s GDLC ETF

The post Let insiders trade – Blockworks appeared on BitcoinEthereumNews.com. This is a segment from The Breakdown newsletter. To read more editions, subscribe ​​“The most valuable commodity I know of is information.” — Gordon Gekko, Wall Street Ten months ago, FBI agents raided Shayne Coplan’s Manhattan apartment, ostensibly in search of evidence that the prediction market he founded, Polymarket, had illegally allowed US residents to place bets on the US election. Two weeks ago, the CFTC gave Polymarket the green light to allow those very same US residents to place bets on whatever they like. This is quite the turn of events — and it’s not just about elections or politics. With its US government seal of approval in hand, Polymarket is reportedly raising capital at a valuation of $9 billion — a reflection of the growing belief that prediction markets will be used for much more than betting on elections once every four years. Instead, proponents say prediction markets can provide a real service to the world by providing it with better information about nearly everything. I think they might, too — but only if insiders are free to participate. Yesterday, for example, Polymarket announced new betting markets on company earnings reports, with a promise that it would improve the information that investors have to work with.  Instead of waiting three months to find out how a company is faring, investors could simply watch the odds on Polymarket.  If the probability of an earnings beat is rising, for example, investors would know at a glance that things are going well. But that will only happen if enough of the people betting actually know how things are going. Relying on the wisdom of crowds to magically discern how a business is doing won’t add much incremental knowledge to the world; everyone’s guesses are unlikely to average out to the truth. If…

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The post Crypto News: Swiss Crypto Firm Relai Secures Landmark MiCA License from French Regulator appeared on BitcoinEthereumNews.com. Swiss Bitcoin app Relai secures MiCA license from France’s AMF, becoming Europe’s first Bitcoin-only CASP and expanding across major EU markets. The Swiss Bitcoin app Relai achieved a major milestone recently. It became one of the first Bitcoin-only firms to gain approval under the MiCA framework in Europe. The Zurich-based company made the news today. Consequently, this is a great achievement for the company. Relai was authorised as Crypto-Asset Service Provider (CASP). This authorization was delivered by France’s Financial Markets Authority (AMF). MiCA Framework Transforms EU Crypto Oversight as Relai Expands The approval is a momentous moment, overall. This is the case not only in Relai but also in the European Bitcoin ecosystem. The MiCA regulation was implemented earlier this year. It sets the same rules for crypto companies throughout the EU. MiCA’s goals is to increase investor protection on a continental basis. Furthermore, it eliminates regulatory fragmentation successfully. Thus, it affords a significant single marketplace for cryptos services. Related Reading: Crypto News: Revolut Secures MiCA License to Expand Crypto Services in EU | Live Bitcoin News Relai’s co-founder and CEO, Julian Liniger, said he is proud. He said the company is keen on expanding operations now. They will attempt attacks on France first with new services. In a second step, they then plan to move across Europe. This early compliance is what gives them a major competitive advantage. Therefore, Relai can establish its brand in a short time. The Markets in Crypto Assets became effective at the end of 2024. This regulation created an extensive framework for CASPs. Previously, companies registered VASPs from single countries. MiCA developed a harmonized standard instead. The EU therefore provided a grace period of up to 18 months. Therefore, Relai managed to get its approval well in advance of this deadline. This early move…