Today’s crypto news delivers significant developments across political partnerships, NFT market corrections, and exchange competition. Investors witnessed major movements as prediction markets gained political backing, blue-chip collections experienced substantial declines, and Gemini achieved a remarkable app store breakthrough.
Trump Jr. Joins Polymarket Board Amid US Comeback Efforts
Prediction platform Polymarket secured a strategic investment from 1789 Capital while adding Donald Trump Jr. to its advisory board. Consequently, this move signals the platform’s determined push for regulated US market re-entry. The investment, estimated in double-digit millions, follows previous regulatory challenges including a $1.4 million CFTC fine. Moreover, Polymarket acquired CFTC-licensed QCEX for $112 million, demonstrating serious compliance commitment. Trump Jr. emphasized how Polymarket bypasses media bias by allowing users to bet on real-world outcomes directly.
Blue-Chip NFT Collections Experience Sharp Declines
Major NFT collections suffered significant weekly losses as Ethereum retreated from record highs. According to DefiLlama data, top projects saw floor prices drop dramatically. Specifically:
- Pudgy Penguins dropped 17.3% to 10.32 ETH
- BAYC declined 14.7% to 9.59 ETH
- Doodles fell 18.9% to 0.73 ETH
This correction followed Ethereum’s pullback from its $4,946 all-time high, currently trading at $4,433 after a 12% Tuesday drop.
Gemini Overtakes Coinbase After XRP Mastercard Launch
Gemini achieved a notable app store victory by surpassing Coinbase following its XRP-rewards credit card announcement. The limited edition metal card offers 4% back in XRP instantly. Sensor Tower data shows Gemini jumped from 117th to 16th in finance rankings while Coinbase dropped to 20th. This development is particularly significant given Coinbase’s substantially higher daily trading volume. Tyler Winklevoss celebrated this “flippening” acceleration on social media.
Market Implications and Future Outlook
Today’s crypto news highlights several converging trends affecting digital asset markets. Regulatory developments continue shaping platform operations while market volatility impacts NFT valuations. Additionally, competitive dynamics among exchanges intensify with innovative product offerings. Investors should monitor these developments closely as they signal broader industry directions.
Frequently Asked Questions
Why did Polymarket receive investment from 1789 Capital?
The investment supports Polymarket’s regulated return to US markets and expansion efforts with high-profile advisory support.
What caused the NFT market decline?
Ethereum’s price correction from all-time highs directly impacted NFT valuations, particularly blue-chip collections.
How did Gemini surpass Coinbase in app rankings?
Gemini’s XRP Mastercard launch generated significant user interest, driving download numbers and app store visibility.
Will NFT prices recover soon?
Market recovery depends on multiple factors including Ethereum price stability and broader cryptocurrency market conditions.
Is Polymarket now legal in the US?
The platform is working toward regulatory compliance through its QCEX acquisition but still faces ongoing regulatory processes.
What makes the XRP Mastercard special?
It offers instant 4% rewards in XRP without waiting periods, providing immediate cryptocurrency benefits to users.
