CFTC Sues Utah Over Kalshi as Crypto Markets Stabilize

Crypto markets stabilized into neutral territory with the Fear & Greed index at 48, as Bitcoin traded above $80,900 and BNB held at $746.67. Meanwhile, BNB Chain's total value locked contracted 4.06% on the day to $5.55B, despite positive performance among top decentralized finance protocols such as Venus Core Pool and Binance staked ETH. In external developments, prediction market regulatory battles flared between the CFTC and Utah, while corporate pushback intensified against OKX-ICE tokenized stock listings.

• BNB Chain BSC total value locked dropped 4.06% over 24 hours to $5.55B, while opBNB TVL stood at $1.10M.
• BNB rose 0.5% over the past 24 hours to trade at $746.67 with over $81.43M in trading volume.
• Bitcoin gained 1.01% to reach $80,913.37 with 24-hour USDT trading volume exceeding $1.07B.
• Binance staked ETH posted the strongest TVL growth among top BNB Chain protocols, increasing 4.34% to $496.53M.
• Binance launched community and regional campaigns, including a South Asia SpaceX Button Game for $10,000 in SPCXB and a 500 USDC DYOR feedback initiative.
• The CFTC sued the state of Utah to protect prediction market platform Kalshi from state-level enforcement seeking up to $60M in profits.
• Intel, IBM, Oracle, and IonQ joined objections against OKX-ICE tokenized stock trading, bringing total objecting companies to 26.
• Hardware wallet maker Keystone announced it is destroying nearly 19,000 devices after an attacker obtained factory authentication keys affecting 25,964 buyer records.
• Robinhood generated $26M in revenue from Robinhood Chain and partnered with Ripple to integrate the RLUSD stablecoin across retail and treasury products.