Key Points
- The Commodity Futures Trading Commission investigates Crypto.com and Kalshi over Super Bowl LIX betting derivatives.
- Poland’s central bank, the National Bank of Poland (NBP), has ruled out the inclusion of Bitcoin (BTC) in its reserves.
The Commodity Futures Trading Commission (CFTC) is currently investigating Crypto.com and Kalshi with regard to their compliance with Super Bowl derivatives contracts.
The investigations are centered on whether these sports-related derivative products meet the existing regulatory requirements. This is despite Kris Marszalek, the CEO, asserting that the platform was regulated at launch.
Super Bowl Betting and Crypto
Kalshi, which is not a sports betting platform, allows users to purchase and trade contracts based on the outcomes of various events. Crypto.com, on the other hand, has declined the CFTC’s request to suspend Super Bowl sports contracts.
Americans are projected to wager a record $1.39 billion on the Super Bowl game between the Philadelphia Eagles and the Kansas City Chiefs, marking an 11.2% increase from the previous year.
In other news, the National Bank of Poland (NBP) has definitively ruled out the possibility of adding Bitcoin (BTC) to its currency reserves. The bank’s president, Adam Glapiński, emphasized the significance of security in reserve assets during a recent press conference.
India’s Changing Stance on Crypto
Ajay Seth, India’s economic affairs secretary, revealed that the government is reconsidering its approach to cryptocurrency in response to changing global attitudes. This review has resulted in another delay in the release of the country’s official regulatory discussion paper, initially scheduled for September 2024.
The kimchi premium in South Korea hit 9.7% on the morning of February 3rd, marking its highest level since April 2024 when it exceeded 13%, before settling at 8.24%. This premium, which represents the price difference between South Korean and global Bitcoin markets, persists due to the country’s closed market structure and restrictions on foreign investors.
In the US, Bitcoin ETFs attracted approximately $5.25 billion in January, surpassing December 2024’s $4.53 billion inflow. BlackRock’s IBIT led the growth with $3.23 billion in monthly inflows, bringing its total net assets to $59.39 billion by January 31.
Exchanges Gain Regulatory Approvals
Coinbase achieved a milestone by becoming the UK’s largest registered crypto exchange after securing Financial Conduct Authority (FCA) approval. This approval allows for the launch of new products and services.
Kraken also expanded its European presence by obtaining a MiFID license through the acquisition of a Cypriot investment firm approved by the Cyprus Securities and Exchange Commission.
On-chain investigator ZachXBT reported that Coinbase users lost over $65 million between December 2024 and January 2025 due to social engineering scams. The scammers reportedly used stolen personal information from private databases to convince victims of unauthorized login attempts.
The company formerly known as MicroStrategy announced a brand simplification to “Strategy,” incorporating Bitcoin’s iconic orange “B” into its new logo to reflect its focus on Bitcoin treasury operations.
The hacked Indian crypto exchange WazirX presented creditors with two potential recovery timelines: April 2025 or 2030, depending on the outcome of an upcoming voting scheme.
The Dubai-based crypto exchange Bybit finalized its registration with India’s Financial Intelligence Unit (FIU-IND) after paying a 92.7 million-rupee ($1 million) penalty for unauthorized operations.
Investment firm VanEck predicts that the Solana (SOL) price could reach $520 by the end of 2025.
Chainalysis reports that ransomware payments dropped to $814 million in 2024, down from 2023’s record high of $1.25 billion, despite an increase in the number of attacks.
The UAE’s Ministry of Energy and Infrastructure has partnered with Shiba Inu (SHIB) to implement its blockchain applications on the Shibarium layer-2 network.
Berachain debuted its “proof-of-liquidity” layer-1 blockchain while initiating its BERA token distribution, with airdrop allocations reaching a value of $1.17 billion at Thursday’s peak pricing.
Crypto exchange Gemini, founded by Tyler and Cameron Winklevoss, is considering an initial public offering potentially scheduled for this year.
