Tennessee orders prediction platforms to cease operations, BNY launches tokenized deposits, OKX restructures institutional team

On this week’s version of the weekly recap, Tennessee officers issued cease-and-desist orders to main prediction market platforms alleging unlicensed sports activities wagering, whereas BNY advances the tokenized deposit platform launch.

Tennessee targets prediction market platforms

• The Tennessee Sports activities Wagering Council issued January 9 cease-and-desist letters to Kalshi, Polymarket, and Crypto.com, ordering them to cease providing sports activities occasion contracts to state residents.
• Regulators accused all three companies of illegally working sports activities wagering merchandise with out required licenses beneath the guise of occasion contracts.

BNY introduces blockchain deposit settlement

• The world’s largest custodial financial institution, managing almost $58 trillion in property, launched a platform enabling institutional purchasers to settle financial institution deposits on blockchain infrastructure.

OKX implements institutional enterprise restructuring

• The cryptocurrency change lately reorganized its international institutional operations, leading to job eliminations throughout the division.
• Whereas precise numbers stay undisclosed, one supply indicated half the workforce was terminated. Nevertheless, one other individual reported 8-10 layoffs with 3-4 voluntary departures when restructuring was introduced.

Buterin helps convicted Twister Money developer

• Ethereum co-founder Vitalik Buterin publicly backed Roman Storm, convicted final August on cash transmitting fees.
• He argued that privacy-preserving software program constitutes a basic human proper.
• Buterin acknowledged Friday on X that he has “supported Roman Storm’s work from the start each as a robust believer within the significance of privateness, and as an energetic person of privateness instruments, together with these developed by Roman.”

Ripple obtains UK regulatory authorization

• Ripple secured approval from the Monetary Conduct Authority for its Digital Cash Establishment license and crypto asset registration.
• This regulatory clearance permits Ripple to increase platform operations inside the UK beneath complete monetary providers oversight.

Truebit suffers $26.6 million safety breach

• The Ethereum-based verification and computation protocol misplaced roughly 8,535 ETH ($26.6 million) in a Thursday safety incident involving malicious actors.
• On-chain analytics platform Lookonchain recognized the roughly 8,535 ETH loss by way of blockchain transaction evaluation.

Trump rejects Bankman-Fried pardon chance

• President Donald Trump dominated out Thursday a pardon for FTX co-founder Sam Bankman-Fried.
• The assertion got here whereas responding to New York Instances reporter questioning about pardon requests for a number of high-profile figures together with Sean “Diddy” Combs.

Florida proposes state Bitcoin reserve laws

• Florida lawmakers filed a brand new proposal authorizing creation of a state-managed Bitcoin reserve.
• The legislative initiative arrives forward of the 2026 session starting January 13.

Optimism Basis proposes token buyback program

• The governance group advised instituting a buyback program to “align the OP token” with the Superchain.
• If permitted, the governance mission would allocate 50% of Superchain income to month-to-month over-the-counter token acquisitions.

Indian tax authorities problem crypto enforcement

• Revenue tax officers joined the Reserve Financial institution of India in elevating issues about digital digital property.
• They cited enforcement challenges threatening the federal government’s capacity to trace and tax cryptocurrency transactions.
• Tax authorities offered Wednesday their issues about cryptocurrency and different digital digital property to the parliamentary standing committee of finance because the Union Funds approaches.

Rumble integrates non-custodial crypto pockets

• The video streaming platform and USDT launched a non-custodial cryptocurrency pockets embedded instantly into Rumble.
• This permits audiences to tip creators utilizing digital property with out conventional fee intermediaries.
• Rumble Pockets helps Bitcoin, USDT, and Tether Gold at launch in keeping with Wednesday’s announcement.

Ledger accomplice suffers information breach

• The cryptocurrency pockets producer confirmed that e-commerce accomplice World-e skilled a knowledge breach.
• Additionally they cautioned customers that their very own {hardware} and software program wallets stay safe.