๐ KuCoin Ventures Weekly TL;DR ๐
Prediction markets are hitting the mainstream! ๐ฅ Two huge signals last week:
Politics: Trump's Truth Social is launching "Truth Predicts" w/ cryptocom, turning major social events into a betting market. ๐ณ๏ธ
Business: Coinbase CEO Armstrong settled Polymarket bets live on an earnings call!
Why? Coinbase's revenue is shifting to on-chain services ($747M in Q3!), making them a huge fan of on-chain apps. This is strategic. ๐ง
๐ Market Signals ๐
Meanwhile, the macro picture is murky. Fed Chair Powell calls it "driving in a fog," making a Dec rate cut uncertain.
The market is feeling it:
ยท Bitcoin Spot ETFs saw -$607M in outflows.
ยท Stablecoin supply dipped, with $USDe falling below $10B.
ยท VC funding hit a multi-month low at just $161M.
Overall sentiment remains in the "Fear" zone. Caution is the name of the game. ๐
๐ฆ Project Spotlight ๐ฆ
Big milestone unlocked: The first US Altcoin Spot ETFs ($SOL, $HBAR) are live! ๐ They even launched during the gov't shutdown.
The killer feature? Staking yields! A new era of yield-bearing ETFs.
But the market reaction was muted. ๐ค $SOL ETFs saw ~$502M AUM, with inflows cooling after launch day.
Meanwhile, real-world adoption continues: Stablecoin startup ZAR raised $12.9M (a16z-led) to bring digital dollars to Pakistan via local cash-in points. ๐ต๐ฐ
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