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ZEC $486.75 -1.41%
BTC $62,775.10 -1.23%
ETH $1,874.15 -0.34%
BNB $604.11 -0.96%
XRP $1.00 -0.41%
SOL $75.45 -0.26%
TRX $0.3331 -0.13%
DOGE $0.0693 -1.08%
ADA $0.1795 -2.69%
BCH $205.25 -3.69%
LINK $8.80 +0.61%
HYPE $56.59 -1.35%
AAVE $86.52 -2.56%
SUI $0.6760 -1.66%
XLM $0.1587 -1.24%
ZEC $486.75 -1.41%

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Financial Times: JPMorgan Chase terminated banking services for Polymarket last year, but is still vying for its IPO underwriting opportunity

According to the Financial Times, JPMorgan Chase terminated its banking services for Polymarket last October due to regulatory concerns, requiring the company to seek new banking institutions. Previously, Polymarket was banned from providing services to U.S. customers after the Commodity Futures Trading Commission took enforcement action in 2022.Currently, Polymarket has partnered with a new bank, but the specific name has not been disclosed. JPMorgan Chase still maintains business dealings with Polymarket and invited its CEO Shayne Coplan to participate in a private banking client meeting held in Miami this February, where he spoke alongside former NFL player Tom Brady. Polymarket stated that the two parties continue to maintain a close and active relationship in various areas, including multiple entities, operational integration, and customer fund flow management.Since 2026, prediction market platforms like Polymarket and Kalshi have faced legal actions from multiple U.S. states regarding their alleged operation as illegal sports bookmakers, while the relevant platforms argue that they operate as exchanges facilitating trades between buyers and sellers, rather than as bookmakers. According to user aggregated data, the nominal trading volume of prediction markets has exceeded $250 billion since 2026.Meanwhile, Polymarket is seeking over $1 billion in financing, with a target valuation of $20 billion, more than doubling from the approximately $8 billion valuation during the last round of financing in 2025.

hot_img Reuters: Microsoft has closed at least 15 branches in China over the past five years, with AI overseas business becoming a key factor for retention

According to a report by Reuters, influenced by multiple factors such as the tense Sino-U.S. relations, China's push for domestic software alternatives, and U.S. export controls, Microsoft has closed at least 15 branches and joint ventures in China over the past five years, executing a strategic contraction. In 2023, the company internally considered exiting the Chinese market, as some executives believed that "the geopolitical risks outweighed the limited economic returns," but ultimately did not proceed with the exit. Microsoft disclosed in 2024 that its business in China accounted for only about 1.5% of its global revenue.The report states that Microsoft's final decision to remain in China was primarily due to the establishment of a profitable path—providing Azure cloud and AI services to Chinese companies like ByteDance and Shein, helping them operate compliantly in overseas markets. Additionally, the company believes that retaining its business in China remains strategically significant for acquiring engineering talent. However, analysts question the sustainability of this AI business model: the service relies on third-party models like OpenAI, and Chinese companies are increasingly adopting domestic alternatives like Kimi, which offer comparable performance at lower costs.Microsoft's research and development presence in China is also contracting. Its predecessor, Microsoft Research Asia, has successively established new labs in Vancouver, Singapore, and Tokyo. In 2024, the company offered job opportunities to 1,000 top engineers to relocate to the U.S. and three other countries, but only about one-third accepted, with most senior engineers moving to domestic universities and tech companies. A Microsoft spokesperson responded that the company will continue to commit to the Chinese market but did not comment on specific decision details. ByteDance and Shein did not respond to related inquiries.

153 stolen addresses contain 132.95 BTC, and researchers are still unable to reproduce the Coldcard attacker's seed

According to monitoring by Bitcoin News, new research published by @PraveenPerera shows that Coldcard attackers seem to first identify addresses with vulnerabilities, then sort them by the amount of Bitcoin held, starting to transfer in batches from the addresses with the highest holdings. The transfer software used was relatively crude.One address had 225 spendable UTXOs, and the attackers extracted exactly the latest 200, leaving the earliest 25, which included a UTXO worth 0.16 BTC. This aligns perfectly with the limitation of a blockchain API investigated by researchers, which defaults to returning 200 records, indicating that the attackers may have failed to load the next page of data. The software even spent a UTXO of 294 satoshis, reportedly increasing the transaction fee by about 2040 satoshis, with the spent amount significantly higher than the value of the UTXO itself.The authors of the study believe that the builders of this tool may have a better understanding of the account balance system than of the Bitcoin UTXO model. Although the attackers seem to have obtained the complete seed of the victims, at least 75 BTC still remain in other addresses derived from the same seed. The biggest suspicion currently is that among the 153 stolen addresses, there are still 132.95 BTC, and researchers have been unable to reproduce the seed behind these addresses, so it cannot be ruled out that the attackers obtained undisclosed private device data or candidate data.
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