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CEX

CEXs are platforms managed by centralized organizations that facilitate the trading of cryptocurrencies, offering high liquidity and user-friendly fiat on-ramps. Leaders like Binance, OKX, and Coinbase serve as the primary gateways for institutional and retail entry. In 2026, the industry focus is on Proof of Reserves (PoR), enhanced regulatory compliance, and hybrid models that offer self-custody options. This tag provides updates on exchange security, listings, and global market trends.

4239 Articles
Created: 2026/02/02 18:52
Updated: 2026/02/02 18:52
Galaxy Digital eyes Polymarket, Kalshi market making

Galaxy Digital eyes Polymarket, Kalshi market making

The post Galaxy Digital eyes Polymarket, Kalshi market making appeared on BitcoinEthereumNews.com. Prediction-market platforms Polymarket and Kalshi are in discussions with Galaxy Digital as institutional interest begins shifting toward event-driven trading. Summary Galaxy Digital is in talks to act as a market maker on Polymarket and Kalshi as institutional firms examine the growing event-trading sector. Prediction-market volume and valuations have surged, supported by Google Search integration, new funding rounds, and major trading firms joining. Regulatory steps, including Polymarket’s QCEX acquisition and Kalshi’s CFTC approvals, have opened the door to broader U.S. participation. Galaxy Digital is in discussions to provide liquidity on Polymarket and Kalshi as prediction markets draw new attention from major trading firms. According to a Nov. 24 Bloomberg report, the firm has held talks with both exchanges about supplying regular two-way quotes that help improve trading depth. Galaxy’s move into prediction markets Galaxy Digital, long focused on institutional crypto services, is exploring a market-making role that would place it alongside a small group of Wall Street-linked players entering the event-trading space. Galaxy Digital chief executive officer Mike Novogratz said the company aims to act as a consistent counterparty on platforms like Polymarket and Kalshi, which operate peer-to-peer markets rather than sportsbook-style setups. Prediction markets have surged this year as users trade binary contracts tied to politics, sports, economic data, and cultural outcomes. Platforms rely heavily on liquidity providers to keep spreads tight, as every “yes” purchase requires someone else to take the “no” side. Historically, these markets were too small to attract large trading firms. Susquehanna International Group was one of the few to publicly confirm activity on Kalshi. But that is changing. Jump Trading recently started market making on Kalshi, and AQR’s Cliff Asness said the firm is reviewing a sports-betting expansion. Kalshi also operates its own internal market-making desk to meet order flow during high-traffic windows. Why prediction…

Author: BitcoinEthereumNews

2025/11/25

Galaxy Digital weighs market making role for Polymarket, Kalshi prediction markets

Galaxy Digital weighs market making role for Polymarket, Kalshi prediction markets

Prediction-market platforms Polymarket and Kalshi are in discussions with Galaxy Digital as institutional interest begins shifting toward event-driven trading. Galaxy Digital is in discussions to provide liquidity on Polymarket and Kalshi as prediction markets draw new attention from major trading…

Author: Crypto.news

2025/11/25

A Conversation with Aster, Lighter, and Helix: Perp DEX's Business Strategy and Future Landscape?

A Conversation with Aster, Lighter, and Helix: Perp DEX's Business Strategy and Future Landscape?

On November 14th, members of the Lighter, Aster, and Helix teams jointly hosted an online roundtable discussion on the future landscape of the on-chain perpetual contract market. During the discussion, the guests shared their operational strategies, characteristics, and future plans for different PerpDEXs, and also offered their outlook on the development of the Perp market. This article is a transcript of the roundtable discussion, packed with valuable information, and is highly recommended for reading and sharing. Host: Tonight we'll be discussing a very important topic: PerpDEX's operational strategy and future landscape. We'll focus on several core issues, such as the current structural challenges facing the PerpDEX sector, how to map on-chain Perp and on-chain finance to the real-world market, and how various projects are addressing user growth, liquidity, and long-term user retention. Today's guests are: 1. Ken—Helix core contributor 2. Amber—Aster BD Manager 3. Mr.block—Lighter core contributor Let's move on to our first topic today: What are the core advantages of the on-chain PerpDEX that are most difficult for competitors to replicate? Why? Amber – Head of Business Development at Aster This is a very interesting question. Looking at the essence of PerpDex's product, everyone is essentially building trading infrastructure, and liquidity is undoubtedly the most crucial element. PerpDex's so-called advantage lies primarily in the smoothness of trading and the depth of its liquidity pools. For Aster, we hope to excel in several areas. First, we adopted an order book and a transaction model across the entire chain, allowing users to choose according to their own needs—do you want to execute complex strategies like a professional trader, or do you want to easily perform simple operations? For the latter, they can use Aster's trading mode with leverage up to 1001x and easy operation. This is our first unique feature: providing two trading models so users can choose the right product based on their desired experience. Secondly, we took early steps in protecting privacy. We launched a feature called "Hide Orders," which is very useful for many high-net-worth individuals who don't want their order information to be completely disclosed. Of course, the hidden order book hasn't fully realized its potential yet, as our own public blockchain hasn't officially launched. A key future direction is launching a dedicated public blockchain for order book services. At that time, transaction information will be transparent and auditable while maintaining privacy. Whether you're a large investor or a regular user, if you don't want your positions or order information to be readily available to others, you can trade while protecting your privacy, and the entire system will still be auditable. Therefore, allowing users to trade in a private environment is, at present, Aster's most significant difference and advantage compared to other PerpDEXs. Mr. Block (Chris) – Lighter Core Contributor : If we're only talking about technological differences, each company has its unique aspects, such as the dark pool I just mentioned. But I think the most crucial thing is to look at each project's "DNA." Aster's DNA is Binance; without Binance, Aster wouldn't be as big as it is today. Hyperliquid's DNA is the community that supports it; while Lighter's DNA is Peter Thiel's Founders Fund and Ribbit Capital, as well as Haun Ventures and Robinhood. Therefore, when retail investors choose which PerpDex to participate in, in addition to the product itself, the most important thing is to look at its DNA, which is also the biggest difference between these three DEXs. Another significant difference lies in whether or not a token has been issued. Currently, among the core players, only Edgex and Lightner haven't issued their own tokens. Therefore, retail investors tend to choose platforms that haven't yet issued tokens when selecting "mining" targets. Current trading volume data may also be inflated, as everyone is frantically inflating trading volumes. In comparison, the data from Aster and Hyperliquid is more realistic because they have already gone through the transaction mining and token issuance stages. Therefore, to truly predict who will ultimately win, I think we'll have to wait until June or July next year, taking into account changes in the market cycle, to see a clearer picture. I personally experienced the entire DeFi Summer and witnessed the competition among all DEXs at the time, including Uniswap, Balancer, Curve, and numerous Uniswap forks such as Pancakeswap. I feel that the competitive landscape of PerpDex now is similar to that of DeFi Summer. Hyperliquid succeeded, and everyone wanted to follow suit. If Hyperliquid hadn't succeeded, and Polymarket had taken off instead, then everyone here today might be involved in prediction markets, not PerpDex. This again illustrates the importance of timing, location, and people. Ken — Helix core contributor: I am a core contributor to Helix, which is PerpDEX deployed on the Injective chain. Returning to the original question, if we were to pinpoint Helix's most difficult-to-replicate core advantage, I believe the key lies in the fact that Helix is not simply a perpetual contract DEX, but rather built upon the high-performance and modular Injective public blockchain. On Helix, in addition to cryptocurrencies, stocks, commodities, forex, and various RWA assets can all be traded, providing a truly unified multi-asset trading experience. Furthermore, Helix leverages Injective's RWA module to support the listing of various innovative financial derivatives. For example, we recently opened up trading exposure for pre-IPO and private markets, including OpenAI and SpaceX. This is virtually unique among current on-chain trading platforms, and even in some centralized platform systems, such products are scarce. Helix fills this gap. In contrast, other DEXs or trading platforms may still focus on a single vertical market. To truly replicate a system like Helix—which combines the matching speed, depth, and liquidity of a centralized trading platform with a transparent multi-asset trading engine across the entire chain—it not only requires a high-performance blockchain as the underlying architecture but also a modular design to support rapid iteration and flexible on-chain deployment of diverse assets. This model, which deeply integrates the ultimate trading experience with the breadth of assets, combined with a near-CEX level experience and end-to-end transparency, constitutes Helix's long-term advantages that are difficult to replicate. It also gives us confidence that Helix has the ability to lead the evolution of the next generation of on-chain financial systems. Host Moonlight: Thank you to our three guests for their insightful discussion. I see a clear consensus here: the competitive barriers for on-chain perpetual contract platforms are no longer limited to product features themselves, but also include the comprehensive advantages formed by multiple factors such as mechanism design, liquidity, market structure, and continuous listening to the community and iterative optimization. Next, we'd like to delve deeper into a topic: Have major projects begun supporting RWA assets? As we all know, RWA is a very hot sector in this cycle. What are your views on the role and importance of RWA in reshaping the DeFi ecosystem? Ken — Helix : Helix currently supports various RWA-related trading markets, covering stocks, commodities, forex, and other non-cryptocurrency assets. On Helix, stock and commodity perpetual contracts are typical examples of natively migrating traditional financial markets on-chain. Helix maintains good liquidity and depth in these RWA markets, making it one of the few multi-asset trading platforms currently available on-chain. From Helix's perspective, the RWA (Retail Asset Trading) sector has considerable long-term growth potential. Globally, there are a large number of users who wish to trade traditional financial assets but are limited by regulatory or geographical constraints—such as investors who want to trade Apple and Tesla stocks, or users interested in pre-IPO assets like OpenAI and SpaceX. They all hope to participate through the RWA market. Another example is Helix's launch a few months ago of the first derivatives market tracking the rental price index of the NVIDIA H100 graphics card. This fully embodies Helix's philosophy of "putting all assets on-chain." We don't want RWA to be limited to stocks, but rather to expand it to more diversified forms of financial derivatives. Looking ahead, we hope Helix can become the preferred platform for decentralized commodities or forex trading. Amber — Aster​ For Aster, we have already launched tokenized stocks, including several mainstream assets such as Apple and Tesla, as well as assets such as gold (XAU). We are constantly trying to list more traditional financial assets because, for Aster, it is not just a PerpDEX, but a one-stop trading platform across the entire blockchain. Therefore, asset diversity is crucial, and RWA is a core cornerstone. From my personal perspective, on-chain stocks and RWA assets significantly lower the barrier to entry for users. Once these assets are on-chain, their accessibility will be greatly improved, and both the assets themselves and the markets they target will gain broader liquidity. Furthermore, certain RWA assets possess genuine interest-bearing capabilities. This is particularly important in DeFi—what we often refer to as "real yield." Users who experienced the DeFi Summer may remember the frenzy for high returns, only to later discover that it came at the cost of overdrawing token value. Assets like RWA, backed by real underlying interest, can inject real yield sources into the DeFi sector after being put on-chain, and are expected to become incremental assets for the next phase of DeFi. From Aster's perspective, we have been actively seeking and promoting the integration of various RWA assets. At the same time, we place great emphasis on the compliance and security of asset listings to ensure that user transactions proceed smoothly. Therefore, we continue to explore diverse RWA and equity asset listings, striving to expand the boundaries of on-chain finance in a stable manner. Host Moonlight : Thank you for sharing, that's fantastic! Building a one-stop trading platform undoubtedly brings great convenience to users. RWA assets, especially US stocks and gold mentioned by the speakers, are becoming new traffic entry points and differentiated growth points in the Perp DEX field. Next, we'd like to explore a question in more depth: Liquidity is the lifeblood of all trading platforms. In the current market environment, many believe the pace of this bull market is difficult to predict. We would like to ask the experts here: what specific strategies or mechanisms do you have to share with our audience regarding attracting and retaining deep liquidity in the long term? Ken — Helix : For any trading platform, liquidity is absolutely crucial. Helix's approach is to combine ecosystem-level liquidity depth with the platform's own liquidity mechanism to build a relatively complete system, thereby maintaining liquidity depth in the long term. From an infrastructure perspective, Injective has a built-in exchange module, and Helix is technically deeply integrated with this module. This module comes with a full-chain order book matching system, giving Helix a natural advantage in liquidity matching. When users trade on Helix Markets, they can interact with Injective's Exchange module to allow all INJ-based DeFi projects to share liquidity. In addition, Injective provides other incentives to support liquidity. For example, Helix directly provides Injective with an "Open Liquidity Program," which introduces deep, programmatically incentivized liquidity to multiple trading platforms. This mechanism allows Helix to maintain high trading volume and tight spreads in various market environments, providing traders with a stable trading experience even during periods of heightened market volatility. Building upon its ecosystem liquidity, Helix has also launched its own market-making robot incentive mechanism, designed to reward market-making robots that maintain liquidity and stability. These robots provide a relatively stable algorithmic liquidity foundation for the platform, and their behavior patterns are similar to incentivizing a group of small, professional market makers, keeping them committed to the Helix platform long-term, thus helping to maintain overall health. It's worth noting that ordinary users can also participate in the program without any barriers. Simply visit the "Liquid Pool" BOT page on the Helix website or app, hold the corresponding assets, or even just one asset, to join and earn incentives in real time. Finally, in its future product roadmap, Helix will launch a significant liquidity upgrade program – which we call the "Mega Vault". This mechanism will integrate existing liquidity incentives to build a more structured and transparent reward system, emphasizing returns based on genuine contributions and utility. Amber — Aster​ Regarding liquidity, there is a core concept: it cannot be generated solely through short-term subsidies, but needs to be naturally attracted by building a healthy and positive market structure. Let me give you an example: Aster currently uses an order book model, relying on professional market makers to provide liquidity. But this is essentially a chicken-and-egg problem—without sufficient user trading volume, even professional market makers will have reservations about providing liquidity. Therefore, our core strategy can be divided into several levels: First, we initiate a "flywheel effect" through early incentives. We provide liquidity incentives to early market makers to help them reduce initial costs, thereby building a basic liquidity environment for users. As users are attracted by a good trading experience and trading volume increases, market makers will naturally be more willing to provide better liquidity depth, thus forming a positive cycle. Secondly, we provide robust trading infrastructure for professional teams. We continuously optimize our native API interfaces and various trading parameters to ensure that our partner market makers can quote prices and place orders more efficiently and accurately, thereby providing users with deeper order books and a more stable trading environment. Third, we will design a long-term ecosystem binding and incentive system. We hope that professional liquidity providers will not only come to trade, but also stay in the ecosystem long-term. This will be related to our upcoming independent public chain—we will design mechanisms that allow professional liquidity providers and even all token holders to participate more deeply in ecosystem building. This effectively completes a transformation from "simple liquidity providers" to "ecosystem identity binders." Once this identity binding is achieved, as Mr. Block mentioned before, users will recognize the platform's "DNA," and they will stay here for longer. Finally, while our current order book liquidity is still dominated by professional market makers, we are also developing a liquidity solution that doesn't rely entirely on a professional team, as we explore listing new assets. Please follow our official Twitter account; we will be launching this new solution to the market as soon as possible. Host Moonlight : Overall, PerpDEX's liquidity development has clearly evolved from an early short-term reward model to a more structured and sophisticated system design. Next, we'd like to ask the experts to elaborate further from a product perspective: Could you elaborate on what new features will be launched in the future to help traders operate more conveniently? For example: Will you launch trading robots, especially intelligent tools that incorporate AI technology? Are there any plans to develop a copy trading system or portfolio analysis functionality? Will there be a major upgrade in the mobile experience? After all, many users are now "smartphone addicts" and it's not convenient for them to sit in front of a computer for long periods of time. Could the teachers please share what new features will be launched soon? Ken — Helix : Currently, Helix is simultaneously developing multiple products, with the core goal of providing traders with a more complete and seamless trading experience. For example, our data dashboards, trading robot integration, and portfolio analysis capabilities have become important components of the Helix ecosystem. We will continue to iterate and optimize these existing modules. Currently, one of Helix's key development directions is to comprehensively improve the mobile experience—as the host just mentioned. We've noticed that more and more users are accustomed to trading anytime, anywhere. Therefore, we've recently invested heavily in mobile development, including optimizing page loading and interaction speed, simplifying interface hierarchy, and ensuring that multi-asset trading scenarios are clearly presented even on mobile phones, allowing users to quickly complete opening positions, adding or reducing positions, and various risk control operations on a small screen. Our goal is very clear: users can manage all their positions, track markets, and execute orders on their mobile devices without relying on a PC. In the future, Helix will also introduce AI technology to enable the platform to support more efficient AI trading robots and user-defined strategies, providing users with an experience comparable to any centralized trading platform. In summary, our primary principle remains consistent: to enable traders to enjoy a high-performance, information-dense, and convenient on-chain trading experience, anytime, anywhere, on any device. Amber — Aster​ First of all, our mobile application is now available for download and use. Mobile has always been a key focus for us. Secondly, we recently launched the AI Arena campaign. Many developers and teams are already building various trading tools on Aster, especially given the current focus on AI trading strategies. Through AI Arena, we've collaborated with ecosystem partners to select and introduce a number of high-quality AI strategy tools, which users can now use for trading on the Aster platform. We hope that through such collaborations, we can continuously introduce more mature and excellent products from the ecosystem to traders. Third, at the product level, our top priority is our independent public blockchain. It's important to note that this blockchain is not a complete ecosystem blockchain, but rather designed specifically to serve the order book system. Our goal is to achieve a high-performance trading experience comparable to centralized exchanges, while ensuring full transparency and verifiability of on-chain data. For traders, this means you can enjoy performance and smoothness on par with CEXs while maintaining complete control over your own data. This will be the core focus of our next step. Host Moonlight : Currently, a large number of traders still primarily use centralized trading platforms. However, as Amber emphasized, PerpDex's smoothness is now comparable to that of CEXs. So, what are the reasons that are prompting a wider range of users to shift to on-chain trading, or at least allocate a portion of their assets on-chain? Ken — Helix : I believe that for traders who are already accustomed to using CEXs for high-frequency trading, switching to Helix or other decentralized perpetual contract platforms means that they can obtain full self-custody and transparent security without sacrificing the trading experience. All order placement, position updates, and liquidation related to perpetual contracts must be completed publicly on-chain. This is crucial because it means there is no "black box" matching process, no unseen internal counterparties, and no additional risks. Black swan risks that have existed in some centralized trading platforms or institutions in the past—such as unilaterally frozen withdrawals, platform service interruptions due to regulatory or compliance issues, or operational failures—even some large platforms have experienced similar situations—may be tolerable for spot trading, but for contract trading, such risks are completely unacceptable. Looking back at the market over the past year, it's easy to find relevant cases, whether it's hacking attacks or so-called "network outages"—such incidents are commonplace. Even if some platforms offer compensation afterward, the process is extremely lengthy and rarely covers all losses. For perpetual contract traders, a single price spike can wipe out months or even years of accumulated profits. For high-frequency or heavy traders, these risks constitute real, albeit invisible, counterparty risk. The core value of on-chain transactions lies in solving this problem by eliminating single points of trust and single points of failure: users' assets are always kept in wallets under their own control, the trading and settlement logic is clearly defined by smart contracts and is publicly verifiable, and the platform cannot arbitrarily change users' positions or restrict asset withdrawals. Furthermore, the on-chain ecosystem's airdrops and other benefit mechanisms provide traders with additional returns that are difficult to obtain on centralized platforms. On Helix, users can enjoy transparent and self-custodied security, as well as share in the potential rewards brought about by the growth of Helix and the entire Injective ecosystem. I believe that the combination of these two aspects—a trading experience comparable to CEXs and the unique security and profit opportunities on-chain—is the most attractive advantage of on-chain trading at present, and it is also the core reason and vision for encouraging everyone to gradually migrate to on-chain. Amber — Aster​ Ken has already covered many key points, and I would like to add a few more: First, from Aster's perspective, we are committed to providing an experience virtually indistinguishable from centralized exchanges. The logic behind this is clear: CEX trading processes are already highly optimized for user experience, and most users are already accustomed to them. What we are doing is providing users with a one-stop, KYC-free on-chain trading platform without sacrificing this smoothness. We hope that users will not have to sacrifice trading efficiency when they switch to on-chain. Secondly, why should users shift from centralized to decentralized exchanges? Besides the fundamental advantages such as no KYC, self-custody of assets, free deposits and withdrawals, and trading transparency, a key point lies in the speed and flexibility of listing new assets. For centralized exchanges, listing new assets typically involves a lengthy and cumbersome approval process. Decentralized exchanges, on the other hand, are different—as we've seen, the reason why DEXs like Uniswap and PancakeSwap have seen continuous growth in trading volume and attracted more and more users is precisely because they can list new assets much faster. The same applies to Aster. We continuously explore ways to accelerate the listing process of new assets, enabling users to trade some assets on our platform even before they are listed on centralized platforms. This is one of the reasons why more and more users are starting to pay attention to and use on-chain perpetual contract platforms: you can access emerging assets earlier, and the earlier you participate, the greater the potential opportunities often are. Host Moonlight: In my view, the future trend isn't necessarily a choice between "on-chain" or "centralized," but rather a parallel approach. More and more users will gradually migrate their financial exposure to on-chain. For example, when I first entered the industry, I mainly used centralized trading platforms, but after this cycle, I started trying decentralized platforms, and the experience was excellent. Now I use both. This may be a viable path for PerpDEX to achieve user growth. Since we're discussing growth paths, we must address how to attract users. In the last cycle, many people achieved considerable profits by participating in airdrops, attracting a large number of users and even giving rise to professional studios and "airdrop hunters." However, users inevitably experience fatigue, especially when they encounter situations where they are "airdropped" themselves. I'm curious how the teachers designed the airdrop mechanism to avoid attracting only short-term users who just want to grab freebies, and instead truly convert the rewards and activities into high-quality, highly loyal users who stay long-term? Ken — Helix : This is indeed a perennial topic in blockchain projects—how to ensure the fairness of airdrops and incentives. I would like to introduce Helix's current approach to incentive design from two aspects. First, there's the open liquidity incentive program built on the Injective blockchain. Anyone who provides liquidity on Helix through a liquidity pool bot can earn corresponding trading incentives. Users can view their available incentive amounts in real-time on Helix's liquidity rewards dashboard, based on the activity and market depth of the supported trading pairs. Secondly, Helix has also established its own points system, but it is fundamentally different from the common "get it and go" model in the market. We adopt a multi-round, continuous accumulation "hidden accumulation" mechanism, which has several common characteristics: it encourages users to conduct real transactions on Helix, maintain continuous interaction, and even if some perpetual trading positions are liquidated, users can still earn points as long as they remain active during market fluctuations. For Helix, genuine engagement is far more important than artificially inflated transaction volume. Therefore, we haven't deliberately created overly quantifiable rules for inflating transaction volume. Overly explicit rules can easily lead to strategic arbitrage, resulting in industrialized volume manipulation and monetization. While the data may appear impressive on the surface, it actually damages the long-term value of the product and ecosystem—users are merely "pretending to use the product," not truly remaining engaged. At Helix, we assess the effectiveness of our points program by comprehensively evaluating user activity and actual trading behavior, focusing more on the quality of participation rather than simply piling up TVL or trading data. Therefore, Helix's points system is designed around real trading and real behavior, aiming to incentivize, align, and reward genuine traders, not short-term arbitrageurs. Amber — Aster​ Regarding incentive design, Aster focuses on two core aspects: behavioral quality and identity binding. Firstly, regarding the quality of behavior, unlike many trading platforms that rely solely on trading volume for rewards, we don't just focus on volume as a single metric. We comprehensively evaluate multiple dimensions, such as whether users maintain stable positions and whether they engage in continuous trading. Essentially, we observe and recognize each trader's genuine participation on the platform from a more holistic perspective. The quality of behavior itself is the core basis of our incentive system. Secondly, we emphasize identity binding. We aim to build a value-driven incentive ecosystem, rather than a one-off event. Aster's goal is not only to attract users through events, but also to transform users into long-term, high-quality participants through close interaction and cooperation with the community. The logic behind this is clear: as you've probably noticed, Aster's product iteration speed has been incredibly fast since TGE, and we're constantly optimizing and updating. Users may initially learn about us through events like airdrops, but we want them to feel that we truly value their voices after they actually trade and provide feedback. By actively responding to user feedback and rapidly iterating on the product, we hope users can grow alongside Aster. In fact, some early airdrop holders have already felt this over the past two or three months. I also hope that new users, through this close interaction during their participation in the community and activities, can feel that we genuinely want to retain everyone and work together to build a truly complete and mature on-chain trading platform with an experience comparable to CEXs.

Author: PANews

2025/11/25

DOJ Tries To Block Elon Musk Testimony In USAID Lawsuit

DOJ Tries To Block Elon Musk Testimony In USAID Lawsuit

The post DOJ Tries To Block Elon Musk Testimony In USAID Lawsuit appeared on BitcoinEthereumNews.com. Topline The Justice Department requested a judge to stop the deposition of former Department of Government Efficiency head Elon Musk in a lawsuit accusing him of spearheading the effort to eliminate the US Agency for International Development. Musk was a special government employee for the first five months of President Donald Trump’s second term. (Photo by Kevin Dietsch/Getty Images) Getty Images Key Facts The lawsuit filed by current and former USAID employees and contractors claims the Department of Government Efficiency, which was once led by Musk, canceled government contracts, slashed the agency’s workforce and shuttered its headquarters without congressional approval, allegedly violating the separation of powers. The Justice Department filing, which was first reported by Bloomberg, argues against the deposition of Musk and two former USAID officials, Peter Marocco and Jeremy Lewin. The Justice Department cited limitations on having executive branch officials testify in court, arguing the depositions can only be required in exceptional circumstances. “Plaintiffs have not made—and cannot” prove there are exceptional circumstances, the Justice Department wrote, saying “a protective order is warranted.” The USAID employees suing DOGE also accuse Musk of using authority outside his scope as a special government employee, a designation he had for the first five months of the year. The plaintiffs are seeking to restore USAID’s functionality and want damages for harm done to their careers and financial security, aiming for an injunction that declares DOGE’s actions against USAID as unconstitutional. Get Forbes Breaking News Text Alerts: We’re launching text message alerts so you’ll always know the biggest stories shaping the day’s headlines. Text “Alerts” to (201) 335-0739 or sign up here. What Is A Special Government Employee? Musk’s role and powers as a former special government employee will likely be an important crux in deciding the lawsuit. The Justice Department defines the…

Author: BitcoinEthereumNews

2025/11/25

Chainlink News: Chainlink Powers Perpl Markets with Full Oracle Integration

Chainlink News: Chainlink Powers Perpl Markets with Full Oracle Integration

Perpl Trade, a leading DEX on Monad, adopted Chainlink as its official oracle solution. This ensures robust mark price calculations and enhanced reliability. Perpl Trade, a leading perpetual decentralized exchange (DEX) on Monad, has adopted Chainlink. This makes it their official oracle solution in the entire markets. Chainlink Data Streams and DataLink provide sound mark […] The post Chainlink News: Chainlink Powers Perpl Markets with Full Oracle Integration appeared first on Live Bitcoin News.

Author: LiveBitcoinNews

2025/11/25

Ethereum Price Signals Bullish Rebound Amid Rising Odds for a 25bps Fed Rate Cut in December

Ethereum Price Signals Bullish Rebound Amid Rising Odds for a 25bps Fed Rate Cut in December

The post Ethereum Price Signals Bullish Rebound Amid Rising Odds for a 25bps Fed Rate Cut in December  appeared first on Coinpedia Fintech News Ethereum (ETH) price has signaled a market reversal in the coming weeks. The large-cap altcoin, with a fully diluted valuation of about $352 billion, surged over 5% on Monday, November 24, 2025, to trade at about $2,922 during the mid North American trading session.  Ethereum Price Eyes New ATH Soon After a heavy bloodbath last …

Author: CoinPedia

2025/11/25

California 5% Wealth Tax On Billionaires Could Pass This Time

California 5% Wealth Tax On Billionaires Could Pass This Time

The post California 5% Wealth Tax On Billionaires Could Pass This Time appeared on BitcoinEthereumNews.com. A rustic sign that says “Taxing California.” getty California has long been the land of high taxes. It’s top 13.3% income tax does not distinguish between ordinary income and capital gain. The top 13.3% tax can grow to 14.4% in some cases. There are audit and administration concerns too. California’s Franchise Board is notoriously tough, many say tougher than the IRS. So far, California has not had a wealth tax, although it has been proposed a few times. The latest proposal is targeted, and it may stand a better chance of passing than the wealth tax proposals of the past. Wealth Tax on Top of Income Tax A proposed ballot measure known for the 2026 Billionaire Tax Act would impose a one-time 5% tax on billionaires living in the Golden State, said to be about 200 people. Supporters say that this measure could raise about $100 billion to help fill funding gaps in health care and education. Proponents say that the tax is needed to offset massive cuts in federal spending on Medicaid and food aid recently signed into law by President Trump. As proposed, the tax would apply to the net worth of California billionaires in the 2026 tax year. Administering a Wealth Tax Notably, real estate holdings would be exempt. However, most other assets — from private company shares to investment portfolios — would be subject to the 5% levy. The tax could be paid over five years. A small group of billionaires who might have to pay a mere 5% seem unlikely to generate much sympathy from most California taxpayers, or sympathy nationally for that matter. But as with the prior wealth tax proposals, some of the objections are likely to focus on floodgates concerns. There are administrative worries too. Wealth isn’t about income, but about assets.…

Author: BitcoinEthereumNews

2025/11/25

Monad Launches Mainnet, MON Trades Near ICO Price

Monad Launches Mainnet, MON Trades Near ICO Price

The post Monad Launches Mainnet, MON Trades Near ICO Price appeared on BitcoinEthereumNews.com. MON briefly surged 14% higher than its ICO price after listing across major CEXs, before retracing. Layer 1 blockchain Monad launched its mainnet and native asset today, Nov. 24, just a few days after its its initial coin offering (ICO) on Coinbase ended. MON debuted for spot trading on Coinbase and several other major centralized exchanges today, and is currently trading around $0.0254. The token briefly rallied as high as $0.0286 earlier today, per data from CoinGecko — about 14% higher than its ICO price. Based on the current price, MON’s fully diluted valuation (FDV) is sitting near $2.5 billion. However, Polymarket odds show about 90% of bettors expect Monad’s FDV to come in below $2 billion by tomorrow, one day after launch. MON’s market capitalization is about $270 million, which places it in the lower 200s among tokens by market capitalization, according to CoinGecko. Oversubscribed Despite Slow Start Initially, Monad’s ICO on Coinbase started off slowly, especially when compared with recent token sales, like MegaETH’s and Stable’s. That in part could be due to the fact that Coinbase’s know-your-customer requirements and regional blocks limited some buyers. The Monad public token sale offered roughly 7.5% of the 100 billion total token supply at $0.025, an allocation that implied about $187.5 million in available public funding. Some in the community earlier expressed concern that only 3.3% of the total MON supply is set aside to be airdropped, meaning, when combined with the ICO allocation, only around 11% of the total supply will be available to the average retail investor. MON Tokenomics. Source: Monad Despite the slow start, Monad’s ICO ended up raising roughly $269 million in total commitments from about 85,800 participants in the debut token sale on Coinbase’s new platform, after the CEX acquired crypto fundraising platform Echo in October.…

Author: BitcoinEthereumNews

2025/11/25

How ChangeNOW For Business Leads the Way

How ChangeNOW For Business Leads the Way

The post How ChangeNOW For Business Leads the Way appeared on BitcoinEthereumNews.com. In the rapidly evolving world of digital transactions, businesses are under increasing pressure to streamline payments, reduce friction, and unlock new revenue streams. Crypto-enabled payments are becoming a key pillar in this shift — especially for fintechs, gaming & iGaming companies, lending platforms and enterprises looking to differentiate. Here’s how organisations can optimise B2B payments using crypto infrastructure — and why ChangeNOW For Business stands out as a high-impact option. Why B2B Payment Optimisation Matters Traditional payment rails involve intermediaries, foreign-exchange cost, settlement delays and compliance burdens. Crypto payments can offer speed, global reach, asset flexibility (including stablecoins), and lower cost overheads. For businesses, the challenge isn’t only accepting crypto — it’s integrating payments, exchanges, custody and compliance in a scalable and secure way. As one analysis puts it: businesses “want secure, compliant payment rails without the burden of building wallets, managing liquidity, or handling complex custody requirements.” In this context, a solution that supports fiat on/off-ramp, multi-asset swaps, widgets + white-label, and partner profit models becomes a strategic advantage. ChangeNOW For Business: A High-Level Overview Description: ChangeNOW For Business is a cutting-edge suite of financial solutions that provides SMEs and enterprises with stable and secure cryptocurrency payments, exchanges and asset custody.Core value proposition: Seamless integration, broad asset & network coverage, enterprise-grade security (SOC 2 / ISO 27001) and a partner-driven profit model.Specifically: Supports more than 1,500 coins across 110+ networks, sourced from both CEXs and DEXs for deeper liquidity. Assets are inter-exchangeable (cross-chain swaps) enabling diverse flows. Flexible business model: fixed-rate or standard exchange flows, referral/commission structures starting at ~0.4% per transaction. Works via API, widget, white-label wallet/exchange solutions; supports both web and mobile. High performance: 99.99% uptime target and ~350 ms response time. Includes a 10-minute accident warning time for rapid incident awareness. Full partner support: 24/7 dedicated…

Author: BitcoinEthereumNews

2025/11/25

3 Low-Cap Neobank Tokens Showing Strong Momentum

3 Low-Cap Neobank Tokens Showing Strong Momentum

The post 3 Low-Cap Neobank Tokens Showing Strong Momentum appeared on BitcoinEthereumNews.com. The crypto community has recently discussed the Neobank concept in Web3 more frequently. Investors are paying closer attention to projects with real-world applications, and this sector is drawing significant interest. Low-cap altcoins within the Neobank narrative may be undervalued. They create new opportunities for investors. What Potential Do Neobanks Have? A Neobank in Web3 refers to a fully digital bank that operates entirely on blockchain. It requires no physical branches. It integrates DeFi features, including self-custody, yield-bearing accounts, and Visa/MasterCard crypto spending cards. Sponsored Sponsored Unlike traditional neobanks, Web3 Neobanks emphasize transparency, the removal of intermediaries, and cross-chain connectivity. According to a report from Precedence Research, the global neobanking market reached $148.93 billion in 2024. It is projected to grow at a CAGR of 40.29% and hit $4,396.58 billion in 2034. Neobanking Market Size. Source: Precedence Research This massive growth potential can benefit Web3 Neobanks. The first reason is the increasing adoption of stablecoin use cases. The second is a shift in investor mindset toward crypto projects with real-world utility rather than hype-driven valuations. “If stablecoin is to power Neobanks on-chain, then the current Web2 identity infra won’t be able to keep up,” investor Mike S predicted. Coingecko indicates that the current Neobank category has a total market capitalization of $4.19 billion, comprising 13 major projects. Mantle leads with a market cap of $3.31 billion, followed by Ether.fi at $412 million. Additionally, Dune data indicate that physical card transaction volume from Web3 neobank projects reached a record high last month, surpassing $379 million. Crypto Card Volume. Source: Dune. Although the transaction volume remains small, analysts believe its growth potential is huge. Meanwhile, the link between Web3 projects and traditional payment companies is becoming stronger. Sponsored Sponsored Crypto investors believe Neobanks will surge thanks to AI agents and blockchain privacy. Some…

Author: BitcoinEthereumNews

2025/11/25

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