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Franklin Templeton scales crypto business as JPMorgan eyes prediction markets
Franklin Templeton builds crypto unit as JPMorgan explores prediction markets and Genius Group exits Bitcoin to repay debt.
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Wall Street isn't just dipping its toes into crypto anymore. It's cannonballing in.
Franklin Templeton is buying teams. JPMorgan is eyeing entirely new product lines.
Meanwhile, geopolitical tensions are whipsawing risk assets in both directions.
Today's stories paint a picture of traditional finance going all-in, even as the macro backdrop stays messy.
Franklin Templeton acquires CoinFund spinoff to scale crypto business
Franklin Templeton just bought 250 Digital, a spinoff carved out of crypto venture firm CoinFund.
The deal brings over Seth Ginns and Chris Perkins, two of CoinFund's former top executives.
A $1.5 trillion asset manager poaching crypto-native talent tells you where the industry's center of gravity is shifting.
Markets
Geopolitical chess match fuels a broad risk asset rally
Iran says it controls the Strait of Hormuz. Trump says he'll only talk ceasefire after it reopens.
With a presidential address to the nation expected tonight, markets are betting on resolution over escalation.
The S&P 500 has climbed roughly 4% since Monday. The Nasdaq jumped nearly 6%.
BTC pushed near $69K, ETH climbed toward $2,100, SOL rose to around $84, and XRP traded near $1.35.
Genius Group dumps entire Bitcoin treasury to pay off $8.5M debt
Genius Group sold every last sat of its Bitcoin holdings to wipe out $8.5M in debt.
The company says it plans to rebuild its crypto treasury once market conditions improve.
Treating Bitcoin as a rainy-day fund works until the rain actually comes.
Jamie Dimon compared prediction markets to gambling, then hinted JPMorgan might build one anyway.
The bank is exploring prediction market services after platforms like Polymarket surged in popularity last year.
When the biggest bank in America wants in, the sector's legitimacy debate is basically over.
On Our Radar
The robot money play: TRON DAO just went all-in on AI agents with a billion-dollar fund.*
Monzo's American dream: Digital bank axes US operations to focus on Europe.
Stablecoin Spreading: Tether's USDâ‚® token is making its way off Ethereum for the first time.
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ICYMI
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