Intercontinental Exchange to invest up to $2 billion in Polymarket
Intercontinental Exchange, the owner of the New York Stock Exchange, is set to invest up to $2 billion in Polymarket, forming a partnership for future tokenization initiatives. Polymarket enables users to buy and sell shares based on potential outcomes of various events, with trades conducted peer-to-peer via smart contracts. Founded in 2020, Polymarket has attracted individuals keen to share their insights on current events, politics, business developments, culture, and sports.
Shayne Coplan, the founder and CEO, highlighted that this partnership represents a significant advancement in integrating prediction markets into the mainstream financial landscape.
Tokenization transforms real-world assets into digital tokens, leveraging blockchain technology that underpins cryptocurrencies. This process allows the creation of digital tokens that can represent a variety of assets, including bonds, real estate, and even fractional ownership of art, and can be traded globally at any time.
Interest in tokenization has surged, particularly following President Donald Trump's election, as he has prioritized implementing more crypto-friendly regulations and recently signed legislation governing stablecoins.
Kremlin-backed crypto coin moves $6bn despite US sanctions
A cryptocurrency operation backed by the Kremlin has seemingly managed to bypass US sanctions by moving over $6 billion since August, when several of its entities were blacklisted.
This development underscores the limitations of Western attempts to restrict Russia’s financial activities. According to an analysis by the Financial Times, more than 80 percent of A7A5—a stablecoin central to Russia’s expanding cross-border payment network—was quickly destroyed and recreated to eliminate connections with a newly sanctioned crypto exchange. A7A5 operates within A7, an alternative cross-border payment system established after Russian banks were disconnected from the US-led financial framework following the invasion of Ukraine in 2022.
In August, Washington added Grinex, a crypto exchange based in Kyrgyzstan, to its sanctions list, marking a continued effort to weaken Russia’s crypto infrastructure. Grinex is believed to be a successor to Garantex, which US authorities dismantled in March due to criminal activities, including hacking and drug trafficking.
Trump boosts Argentina's Milei with $20 billion lifeline as US buys pesos
The US Treasury has officially established a $20 billion currency swap agreement with Argentina and purchased pesos in the open market, fulfilling President Donald Trump's commitment to support the struggling nation, which has led to a significant increase in the value of the peso and Argentine dollar bonds.
US Treasury Secretary Scott Bessent stated on X, "The US Treasury is prepared, immediately, to take whatever exceptional measures are warranted to provide stability to markets."
Argentina's 2035 bond rose 4.5 cents to 60.5 cents on the dollar, while the peso closed at 1,418 per dollar, gaining 0.8% on the day after an earlier 3% drop. Local stocks surged by 5.3%, recovering from a 2025 low reached last month just before Bessent's initial assurance of support, with Argentine stocks traded in US markets soaring by 13%.
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