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FBI Raids Polymarket CEO Following Donald Trump’s Victory Prediction
The FBI confiscated Polymarket CEO Shayne Coplan’s phone and electronics early Wednesday morning, just a week after the platform accurately predicted Donald Trump’s presidential victory.
According to the sources, law enforcement officers arrived at the 26-year-old entrepreneur’s Soho residence at 6:00 a.m., demanding his devices.
FBI Raids Polymarket CEO’s Home After Platform Accurately Predicted Trump Election Victory
In an early morning raid on Wednesday, the FBI seized the phone and electronics of Polymarket CEO Shayne Coplan, just a week after the platform’s election betting correctly predicted President-elect Donald Trump’s victory.
[🌲] FBI seizes Polymarket CEO’s phone, electronics after betting platform predicts Trump win according to sources: NYP
— Tree News (@News_Of_Alpha) November 13, 2024
At 6:00 a.m., police appeared at the 26-year-old entrepreneur’s Soho residence and commanded his devices. A source close to the matter described the raid as “political theatre” because law enforcement could have requested what they asked for through attorneys.
The government might consider political retaliation against the now-accurate market that predicted Trump’s victory, a source said. That’s what the government could say: ‘It’s market manipulation, or rigging for Trump to win,’ the source said.
Polymarket is a free public prediction market meant to shine light on events like elections. The spokesperson said: “We do not collect any fees, do not take positions in any markets, and publish our markets’ data for free.”.
For his part, the source said that Coplan was not arrested at the time of the incident.
Acting As a Key Indicator Ahead of Official Election Call
When polls closed one election night, Polymarket had the odds of a Trump victory at roughly 58%. As the night wore on, his odds began to climb. By 11:43 p.m., nearly six hours before the Associated Press called the election-his odds sat at 95%.
Coplan posted on X early Wednesday, saying reports indicated the Trump campaign knew of their victory through Polymarket’s prediction. For a month before the election, Trump led Vice President Kamala Harris in prediction markets, with his odds at 67%. Conventional polls never showed a clear leader, with neither candidate breaking the margin of error in key states.
Coplan called the result a “vindication” of prediction markets, proving the site as “the most accurate way to follow the election.” This election marked the first time Americans could legally bet on the outcome. In early October, a federal court ruled in favor of Kalshi, allowing election event contracts.
Be it as it may, this is not the first problem Polymarket has with the government. Recently it was announced it is likely for it to be prohibited by France’s gambling regulator, the ANJ, after a huge amount of bets were placed on the 2024 US presidential election.
Teuta Franjkovic
Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries.
Starting her career in 2005 as a lifestyle writer for Cosmopolitan, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg.
Influenced by figures like Don and Alex Tapscott and Laura Shin, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions.
Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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The latest US Producer Price Index (PPI) data showed that the inflation has come in at 2.4%, up from the September reading of 1.9%. This comes a day after the US CPI inflation figure showed a spike in the inflationary figure for the first time in eight months. Besides, the market concerns are also fueled as this set of data is also crucial for the Fed’s decision on their monetary stimulus plan.
However, despite the hotter-than-anticipated CPI inflation data, Bitcoin has continued its run towards the north, hitting a new ATH of $93,000.
US PPI Inflation Came In At 2.4%
The latest data by the Labor Department showed that the US PPI inflation came in at 0.2% in October, after noting no change in the prior month and the highest since August 2024. On a year-over-year (YoY) basis, the inflation was at 2.4%, marking a jump from the 1.9% figure of September.
The Core Producer Price Index, which excludes the foods and energy prices, came in at 0.3%, as compared to 0.1% in the prior month and up from the market expectations of 0.2%. On a YoY basis, the reading showed that the Core inflation was at 3.1% in October, up from 3% in September and the market expectations of 2.8%.
However, the hotter-than-anticipated US PPI inflation data has further fueled market speculations over the US Fed’s next move with their policy rate plans. Notably, the latest US CPI inflation figures also came in hot, indicating a hawkish decision on the upcoming Fed rate cut decisions.
Rupam Roy
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Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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XRP Lawsuit: In the latest development in the In re Ripple Labs Inc Litigation, the court has granted an order in favor of defendants Ripple Labs, XRP II LLC, and CEO Brad Garlinghouse. The order came pursuant to a joint request by both parties to proceed for final judgment and a stay on the plaintiff’s class claims.
Judge Grants Order on Final Judgment and Stay in XRP Lawsuit
In the latest court filing in the In re Ripple Labs Litigation, Judge Phyllis Hamilton has granted a joint motion for entry of final judgment and to stay. The court affirms the judgment in favor of defendants Ripple Labs, XRP II LLC, and CEO Brad Garlinghouse.
“The Court finds that final judgment should be entered pursuant to Rule 54(b) with regard to Plaintiff’s class claims that were resolved in Defendants’ favor in the Court’s Order and Opinion Granting In Part and Denying In Part Defendants’ Motion for Summary Judgment.”
The court ordered in favor of Ripple and Brad Garlinghouse on plaintiff class action claims in the XRP lawsuit. The class claims include unregistered offers and sales of securities, liabilities of Ripple and Brad Garlinghouse as control person, and California securities law violations.
Last month, Ripple requested the court to issue final judgment on plaintiff class action claims and a stay on individual state law claim until resolution. Also, the court asked the parties to consider an alternative resolution to the ongoing dispute related to an individual claim.
The court also set January 21 next year as the trial date, dismissing attendant pretrial dates. The court will declare new dates after the resolution of any or all appeals of the class claims.
Can Ripple Vs SEC Lawsuit Be Dismissed?
The US SEC has made some similar claims in the SEC v. Ripple Labs lawsuit, bringing charges against CEO Brad Garlinghouse and Executive Chairman Chris Larsen. The market participants slammed the agency for appealing the ruling by Judge Analisa Torres.
The debate surrounding the end or dismissal of the XRP lawsuit picked pace due to Donald Trump’s promise of crypto regulatory clarity. In addition, Trump also said to fire Gary Gensler after entering the White House. Gary Gensler was asked to resign as the SEC Chair by American Securities Association (ASA) President Chris Iacovella.
Expert lawyers and Ripple CTO David Schwartz assert the lawsuit will likely get dismissed. Attorney Fred Rispoli said the Ripple SEC case can be withdrawn or settled at any time. While he believes the XRP lawsuit withdrawal is “unrealistic” though settlement seems likely.
Varinder Singh
Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Cryptocurrency prices today continue to spark significant discussions among market traders and investors globally. While Bitcoin (BTC) price hit a new ATH over the past day, top altcoins mainly illustrated gaining trajectories. Besides, the newly listed meme coin Peanut the Squirrel (PNUT) emerged as the day’s top gainer, alongside dogwifhat (WIF) rally.
As a result, the global crypto market cap jumped 3% to $2.98 trillion over the last day. However, the total market volume fell, slipping nearly 3.5% to $308.42 billion. Here’s a closer look into some of the most renowned cryptocurrencies and their price movements on November 14.
Cryptocurrency Prices Today: BTC Hits New ATH, Altcoins Jump
BTC price hit a new ATH of $93.4K, sparing market optimism globally. Meanwhile, Ethereum (ETH) appears to have tackled some turbulence. Nevertheless, SOL and XRP prices maintained a hold in the green zone amid high sentiment. Simultaneously, the meme coin sector showcased remarkable gains, adding to market optimism on prices today. Here’s a brief report on the top coins by market cap and their price action today.
Bitcoin Price Today
BTC price gained nearly 4% in the past 24 hours and is now trading near $90,000. The coin’s intraday low and high were $86,256.93 and $93,434.36, respectively. Notably, this 24-hour high also marks a new ATH for the flagship crypto. Further, Bitcoin’s market cap rested at $1.78 trillion today. Intriguingly, BTC’s market dominance saw a 0.3% increase in value to 59.78% today.
Further, Sosovalue data shows that spot BTC ETFs recorded $510.11 million in inflow. The ETFs saw sixth consecutive inflows, aligning with the coin’s rising price movement.
Meanwhile, veteran trader Peter Brandt predicted amid a bullish market that BTC price remains poised for further gains, sparking optimism on future movements.
Ethereum Price Today
ETH price chart conversely indicated a 2% leap in value and is currently trading at $3,239. The coin’s 24-hour low and high were $3,121.67 and $3,337.88, respectively. Ethereum’s market cap was evaluated as $385.58 billion today.
However, the coin faces slight turbulence despite spot ETH ETFs recording strong inflows of $146.9 million on Wednesday. Meanwhile, it’s noteworthy that Bitwise Asset Management, a crypto exchange-traded fund (ETF) issuer, recently acquired Ethereum staking service Attestant, sparking market discussions.
Solana Price Today
The crypto SOL price witnessed a remarkable 8% uptick in value and is now trading at $219. The coin’s 24-hour low and high were $201.47 and $220.34, respectively. Solana’s market cap stood at $103.35 billion today. In light of the token’s relisting on Robinhood, an optimistic market wave appears to have engulfed the crypto recently.
XRP Price Today
Simultaneously, XRP price witnessed gains worth 4% intraday and is now resting at $0.6961. The coin’s 24-hour low and high were $0.6426 and $0.7435, respectively. XRP’s market cap reached $39.59 billion today. Further, a recent XRP price analysis by CoinGape suggests that a potential rally to $1.5 looms amid a bullish crypto market.
Meme Coins Performance Today
Dogecoin (DOGE) price witnessed gains worth 8% intraday and is now trading at $0.3863. Further, even Shiba Inu (SHIB) soared 3% to $0.00002534. Meanwhile, PEPE, WIF, and BONK surged 14%-77% over the past day, solidifying investor optimism over the coins’ prices today.
Top Cryptocurrency Gainer Prices Today
Peanut The Squirrel
PNUT price soared 170% in the past 24 hours, reaching $2.20. The coin’s intraday low and high were $0.7716 and $2.47, respectively. Notably, the meme token soars phenomenally following Elon Musk’s support for Peanut the Squirrel to the crypto on X.
Pepe Coin
Simultaneously, PEPE price rocketed 77% over the past 24 hours and is now trading at $0.00002339. The coin’s 24-hour low and high were $0.00001253 and $0.00002524, respectively. The meme coin soared in tandem with its listing on Coinbase recently.
dogwifhat
WIF price upsurged 38% over the past day to reach $4.07. The coin’s 24-hour low and high were $2.89 and $4.68, respectively. Coinbase announced to list WIF token amid huge demand, sparking a rally in the token.
Top Cryptocurrency Loser Prices Today
Cronos
CRO price tanked 15% in the past 24 hours and is now sitting at $0.1526. The coin’s 24-hour low and high were $0.1519 and $0.1837, respectively.
Kaspa
KAS price cracked 6% intraday to rest at $0.1273. The coin’s 24-hour low and high were $0.1244 and $0.136, respectively.
Stellar
XLM price waned 5% over the past day to reach $0.1234. Its intraday low and high were $0.1211 and $0.133, respectively.
Besides, the hourly time frame charts indicated that BTC slipped 0.10% while ETH jumped 0.88%, sparking contrasting speculations over cryptocurrency prices today. Nevertheless, market watchers remain bullish as Q4 sees a highly optimistic market post-Trump’s win in the U.S. elections.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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24/7 Cryptocurrency News3 months agoTop Crypto News Headlines of The Week
Donald Trump4 months agoWhy Did Trump Change His Mind on Bitcoin?
News2 months agoNew U.S. president must bring clarity to crypto regulation, analyst says
Bitcoin4 months agoEthereum, Solana touch key levels as Bitcoin spikes
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Price analysis3 months agoWill XRP Price Defend $0.5 Support If SEC Decides to Appeal?
Bitcoin4 months agoBitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
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