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The U.S. state of Utah has filed 14 criminal charges against prediction market platform Kalshi and its two co-founders.

1 days ago

The U.S. state of Utah has brought 14 criminal charges against prediction market platform Kalshi and its two co-founders, Tarek Mansour and Luana Lopes Lara. The charges include one felony count of alleged ongoing illegal activity, 12 counts of promoting internet gambling, and one misdemeanor gambling charge. Prosecutors said an undercover agent from Utah’s Attorney General’s Office accessed Kalshi in September using a local address, phone number and debit card, placing 12 sports event bets on the platform. On that basis, the state accuses the platform of promoting illegal gambling in Utah. The criminal proceedings come days after the Utah Attorney General filed a civil lawsuit, which seeks to bar Kalshi from accepting bets from Utah residents and recoup alleged profits the platform earned in the state. Kalshi has previously maintained that its sports event contracts are financial derivatives regulated by the U.S. Commodity Futures Trading Commission (CFTC), not gambling, and thus not subject to state-level oversight. However, Utah and multiple other states argue prediction market platforms must still adhere to state gambling laws. The CFTC has also sued Utah, asserting such contracts should be regulated at the federal level.

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Onchain Foundation: Suspends LSK buybacks amid Binance security incident, expected to resume next week.

The Onchain Foundation announced that it has temporarily suspended its LSK token repurchase program amid the Binance security incident, and expects to resume the plan next week after the situation becomes clearer. The foundation noted that Binance has confirmed it will bear all losses, so the incident is not expected to impact the LSK repurchase program. A separate announcement will be released once the repurchase program restarts.

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Huobi HTX has launched PFE and VLO perpetual contracts.

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A trader closed out long positions in Bitcoin (BTC) and Ethereum (ETH), locking in over $20 million in profits, before placing a 20x leveraged short on 13,000 ETH.

According to Lookonchain’s monitoring, trader 0x15a4 closed out its long positions of 1,000 BTC (valued at approximately $78.18 million) and 10,000 ETH (worth around $22.35 million) after holding them for four months, locking in profits of over $20 million. Following the liquidation, the trader shifted to a bearish stance, opening a 20x leveraged short position of 13,000 ETH (valued at roughly $29 million).

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European Central Bank’s Zigmann: Rate hike possible as early as the next meeting

ECB’s Zigmans said the European Central Bank (ECB) could decide to raise interest rates as soon as its next policy meeting, adding that gradual monetary policy tightening is appropriate. Zigmans noted the energy shock has lasted longer than expected, with the euro area now entering the adverse scenario outlined in the ECB’s latest projections. Sustained energy price rises have increased the risk of further inflation acceleration while dampening economic growth prospects. Rising bond yields and falling stock prices reflect a further tightening of financial conditions. Against this backdrop, the ECB’s gradual interest rate hike strategy is the right direction, helping preserve flexibility for future policy decisions. Zigmans emphasized the ECB remains committed to stabilizing inflation at 2% over the medium term, and will make interest rate decisions based on future data, inflation expectations and the risk environment. He also noted prolonged conflicts in the Middle East and Ukraine could pose downside risks to economic growth. Croatia’s central bank projects the country’s economic growth this year at around 2.5%, roughly three times the average rate of the rest of the euro area. (Jinshi)

2 minutes ago

Trader 0x15a4 closes $78.18M $BTC and $22.35M $ETH longs for $20M profit, opens 20x short on 13,000 $ETH

Trader 0x15a4 just closed his longs on 1,000 $BTC ($78.18M) and 10,000 $ETH ($22.35M) after holding them for 4 months, making over $20M in profit. He then flipped short, opening a 20x short on 13,000 $ETH ($29M).

2 minutes ago

Binance Theft Incident Update: No evidence of any wallet private keys leaked yet, technical review report to be released

Binance CEO Richard Teng has published an update on the exchange’s theft incident, confirming user funds are safe and all losses will be fully covered by the SAFU fund and the company. Preliminary investigations indicate the security breach may have originated from a DevOps engineer’s laptop being compromised; the attacker subsequently gained access to a service container and submitted unauthorized withdrawal transactions within it. Teng stressed the attack was not a simple exploitation of an engineer’s permissions nor a single-click operation, involving far more complex steps. No individual has been blamed in the ongoing investigation. As of press time, Binance has found no evidence of wallet private key leaks. The incident is estimated to have resulted in roughly $6.3 billion in losses, with around $3 billion frozen via on-chain collaboration. Binance has taken the following measures: suspended withdrawal services to enable security upgrades for withdrawal systems and related addresses; revoked authorizations for affected addresses; and partnered with law enforcement agencies and blockchain intelligence firms to track and recover funds. Teng added that user deposits remain unaffected and operational. Upon completion of the investigation and verification of all facts, Binance will release a detailed technical post-mortem report and update its proof of reserves following remediation efforts.

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