Financial Times

Kalshi is seeking to raise new capital at a valuation of about $40 billion, nearly doubling its prior level, according to a Financial Times report. The move would further separate the federally regulated prediction market exchange from rival Polymarket.

Nigeria intensifies its confrontation with Binance, requesting detailed information, including the top 100 users and six months' transaction history. The situation escalates as Binance executives remain detained, prompting concerns over untraceable funds and currency stability.

Swiss crypto hedge fund Tyr Capital is in a dispute with client TGT over its ties to the bankrupt FTX exchange. TGT accuses Tyr of "criminal" mismanagement, leading to a raid by a Swiss prosecutor. The disagreement centers on Tyr's withdrawal of funds from FTX on the day of its bankruptcy, violating warnings and internal exposure limits. The conflict follows FTX's 2022 collapse, impacting connected entities and setting the stage for a legal battle with potential consequences for Tyr Capital and the crypto investment landscape.