#betting

The smart contract-based betting platform Polymarket, which facilitates cryptocurrency bets on any event, witnessed a 75% decline in TVL after November 5, coinciding with the end of the U.S. presidential election.

Crypto betting platforms now face the threat of prohibition.

According to data from the analytical platform LayerHub, only 13.2% of users on the crypto betting platform Polymarket have made a profit from their bets. Out of 176,000 gamblers, only 23,000 earned a profit, with just 8.7% of them making more than $1,000.

On October 3, 2024, the total value locked (TVL) on the betting platform Polymarket reached a new all-time high of $137.68 million, according to data from the analytics site DefiLlama.

Amanda Pritchard, the Chief Executive Officer of NHS England, has noted a significant rise in the number of people seeking help for issues related to cryptocurrency betting and trading.

Data from Deribit shows a significant concentration of ETH call options (as of this writing) around a strike price of $6,500 for June.

Nayib Bukele, fervent in his support for Bitcoin, is seeking re-election as El Salvador’s President.

According to Blockstream CEO Adam Back, Bitcoin is set to hit $100,000 before its 2024 halving. He's wagered against a Twitter user, Vikingobbitcoin, who believes it won't happen until 2025. The loser of the bet will owe 1 million sats.

On November 13, 2024, the FBI searched the Manhattan apartment of Shayne Coplan, CEO of the betting platform Polymarket. Agents woke him at 6 a.m. local time, requesting that he hand over his smartphone and other electronic devices.

On October 3, HBO revealed its upcoming documentary “Money Electric: The Bitcoin Mystery”. According to Politico, HBO claims to have identified the true Satoshi Nakamoto and plans to unveil their findings in the film, which is set to air on October 8.

Following reports that Martin Shkreli and Donald Trump's son, Barron, were involved in launching the DJT token, a betting market titled "Was Barron involved in DJT?" appeared on Polymarket.

Australia has enforced new online gambling regulations that ban the use of cryptocurrencies for betting. This restriction also applies to credit cards connected to crypto wallets.

According to Coinglass, in the last 24 hours, over $529 million worth of traders' positions were liquidated. The majority were betting on growth, but things didn't turn out as expected.

Google has timely adjusted its advertising policy regarding cryptocurrency trusts.

Hackers managed to drain 6000 ETH, 3.9 million USDT, 1.1 million USDC, and 900,000 DAI from the company's address. Tongue-in-cheek, one might say Drake was responsible for the audit. UPD: Hacken has disclosed that an initial cyber theft of $20.69 million was executed on the Ethereum network, which was followed by subsequent heist amounting to $25.6 million across the BSC and Polygon networks. The project's team has not yet commented on the breach. The only information available is a Telegram channel update, indicating technical maintenance for the withdrawal of ETH, USDT, and ERC20 tokens.