Paul Tudor Jones calls bitcoin the 'best inflation hedge,' warns of overvalued stocks
Billionaire investor Paul Tudor Jones called bitcoin the "best inflation hedge" due to its fixed supply, surpassing gold. He warned U.S. equities are severely overvalued, with S&P 500 valuations echoing the 2000 dot-com bubble, predicting negative 10-year returns. A major correction could explode the federal deficit and damage bond markets through collapsed capital-gains tax revenues.
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Robinhood stock shrugs off a 47% crash in crypto revenue thanks to a massive surge in event betting
While the trading platform’s crypto revenue tanked 47% to $134 million, a record-breaking surge in prediction market bets helped push overall revenue up 15% to $1.07 billion....
CFTC sues Wisconsin in agency's legal campaign defending prediction markets authority
The CFTC sued Wisconsin over prediction market regulation, escalating its legal campaign against states claiming gambling jurisdiction. Wisconsin had days earlier sued Kalshi, Polymarket, and Coinbase. CFTC Chair Mike Selig asserts exclusive federal authority over event contracts as derivatives, not state gambling. Multiple states including New York and Arizona are challenging this stance, creating regulatory uncertainty for platforms operating in U.S. markets.
IREN Price Target Cut as Bernstein Sees Firm Dumping Bitcoin Mining for AI
Bernstein cut its price target for IREN, citing the firm's strategic shift from Bitcoin mining toward artificial intelligence infrastructure. The downgrade reflects concerns about profitability in traditional mining amid competitive pressures and AI's emerging dominance in crypto infrastructure spending. This pivot signals broader industry trends as miners diversify into higher-margin AI operations, impacting investor sentiment on pure-play mining stocks.