CoinDesk

According to predictions on the prediction market platform Polymarket, former President Donald Trump is facing a likely conviction. Additionally, the Commodity Futures Trading Commission (CFTC) is set to hold a hearing to discuss a potential ban on political betting markets.

On Friday, an Australian Federal Court largely ruled in favor of the country's markets regulator in its case against BPS Financial Pty Ltd (BPS) regarding its Qoin scheme. The court's decision represents a significant development in the legal battle surrounding the controversial digital currency project.

According to a report by Bloomberg, new findings from Visa and data platform Allium Labs reveal that less than 10% of stablecoin transaction volumes originate from organic sources or real people. The study highlights the predominance of inorganic activity in the stablecoin market.

Daniel Schatt, a co-founder and former CEO of Cred, along with Joseph Podulka, the company's former CFO, and James Alexander, the former chief capital officer, have been indicted by the U.S. Attorney's Office in the Northern District of California. The indictment comes after allegations of misconduct within the cryptocurrency lending platform.

Alexander Vinnick, a Russian national who was one of the operators of the cryptocurrency exchange BTC-e, has pleaded guilty to conspiracy to commit money laundering. Vinnick's role with the now-defunct exchange facilitated the laundering of funds from various criminal activities.

Ivan Soto-Wright, co-founder and CEO of MoonPay, a cryptocurrency payment infrastructure company, appeared on CDTV's 'First Mover' program to discuss MoonPay's recent partnership with PayPal. The partnership aims to facilitate cryptocurrency transactions for PayPal's customers.

The U.S. dollar has long been the dominant global currency, serving as a de facto world currency. However, there is an ongoing debate about whether this should continue or if alternatives should be explored. Proponents argue that the dollar's widespread use facilitates international trade and investment, while critics raise concerns about the potential risks of relying too heavily on a single national currency. As the global economic landscape evolves, policymakers and financial experts will need to carefully consider the implications of maintaining or changing the current system.

Arthur Hayes, the former CEO of BitMEX, has predicted that the price of Bitcoin is likely to trade within a range of $60,000 to $70,000 over the next few months. Hayes, known for his insights into the cryptocurrency market, did not provide specific reasons for his forecast.

The cryptocurrency market experienced a bearish trend over the past week. According to CoinDesk's analysis, 16 out of the top 20 cryptocurrencies by market capitalization recorded losses. The biggest decliners were NEAR, Bitcoin Cash (BCH), and Dogecoin (DOGE). Only four cryptocurrencies managed to post gains during this period.

According to the report, both equities and gold have experienced a decline in trading activity since reaching their peak levels in mid-April.