OVERVIEW

ICE Drops $2B On Polymarket 💰️

Before we dive in, here’s today’s crypto market heatmap:

And here’s a look at crypto’s total market and altcoin market cap charts:

NEWS
🎯 ICE Drops $2B On Polymarket

Our prediction market partner, Polymarket, just scored a monster deal - Intercontinental Exchange (yes, the ICE that owns the New York Stock Exchange) is investing up to $2 billion at an $8B valuation. 😱 

ICE will distribute Polymarket’s event data to institutional investors globally, which means traders everywhere will soon be quoting Polymarket odds.

That makes this a great segue to something hilarious that happened last week involving Polymarket’s big wig Shayne Coplan.

Let’s Set The Stage

Back on September 29, there’s this SEC-CFTC roundtable going on. 🏓 

Polymarket’s Shayne Coplan, jokingly says he was worried when he showed up that he might be whisked way to another room - a reference to the FBI raiding his home for his phone and other electronics shortly after Trump won the presidential election in November 2024.

SEC-CFTC Roundtable

Anyway, here’s these three guys on the end of the table:

There’s an exchange between the Chicago Mercantile Exchange’s Terrence Duffy and Polymarket’s Shayne Coplan. Duffy comments on innovation, and that its fine, but don’t call it “innovation” just to dodge rules. One rulebook, same game for everyone.

Coplan then says, “You’re at a fork in the road - wait five years for rulemaking while everything happens offshore, and we’re left with consumers having to work with guys like you (gestures towards Duffy) who are a lot older. Maybe you don’t understand what modern investors want.”

It was at this point shit got real (around 34:42). Duffy flies the one-finger victory salute, flips the bird, displays the impudent digit, releases the bras d’honneur at Coplan. 🖕 

Now, clearly this was mostly lighthearted. Listen, Chicago is known for being a tough town with warm hearts. It’s the trading heart of the US. Their professional sports teams are literally called the Bulls and the Bears.

Even fellow panelist Jamie Selway (SEC Director of the Division of Trading and Markets) made a joke saying that if Shayne does show up in a room, it’s probably not the government, but some guys from Chicago. 🐂 

In A Nutshell

Polymarket already dominates the space, letting users trade outcomes on politics, markets, sports, and culture - and now it’s teaming up with the same folks who literally run the NYSE.

Congrats to the kings of “what happens next.” 🚀

🗒️ Side note: could we get the SEC and/or CFTC a tiny budget for video editing? You know budgets are stretched thin when the video title for this is 2025 09 29 SEC CFTC Roundtable Meeting Panel 02 🗒️

NEWS
Pineapple Goes All-In On Injective With $100M Treasury Strategy 🍍

Pineapple Financial just made a loud entrance into crypto’s grown-up table, scooping up 678,353 $INJ.X ( ▼ 4.88% ) tokens worth $8.9M as the opening move in a $100M Injective Digital Asset Treasury plan. 💸 

All holdings will be staked on-chain for an estimated 12.75% annual yield - roughly twice Ethereum’s and nearly double Solana’s current rates.

CEO Shubha Dasgupta framed it as conviction in Injective’s future and the first step toward dragging Pineapple’s mortgage finance business on-chain.

Injective Labs’ Eric Chen called it a milestone for onchain finance and praised Pineapple for aligning its core business with Injective’s infrastructure - a rare case where fintech talk might actually match follow-through.

The firm plans to integrate Injective’s rails into its mortgage ops, covering data, servicing, settlement, and RWA tokenization. In other words, they’re betting mortgages and DeFi can finally share a room without one stealing the other’s wallet.

If Pineapple keeps stacking and staking, it’ll turn its treasury into a yield engine while positioning itself as Injective’s institutional anchor. The company says more purchases are coming soon, along with full transparency on staking activity. 🚀

NEWS
🏦 BNY Mellon Finally Decides To Stop Pretending Blockchain Doesn’t Exist

BNY Mellon, the US’s oldest bank… hang on a minute because this deserves a little fun fact anecdote: 🧠 

1. It’s not the oldest bank in the world - there’s a lot of stories today calling BNY Mellon the oldest bank in the world, and it’s not. The oldest bank in continuous operation is the Banca Monte dei Paschi di Siena - since freaking 1472 - twenty years prior to when Columbus set sail.

2. BNY Mellon is the oldest in the US. 1784 is when it started. Ben Franklin and Alexander Hamilton were a couple of the first share holders. So was some rando named Aaron Burr. I’m sure they got along just fine.

3. Also, it’s crazy to think that the Banca Monte dei bla bla bla was operating for over 300 years before the Bank of New York even started.

Anyway.

$BK ( ▲ 0.47% ) is reportedly cooking up blockchain-based tokenized deposits for clients. Bloomberg says the firm plans to let customers move money directly on blockchain, joining the Real-World-Asset tokenization herd that every TradFi suit now claims they “saw coming.”

It’s the same pitch we’ve heard from every other bank suddenly allergic to SWIFT delays - instant settlement, 24/7 ops, and fewer middlemen to blame when wires get lost in Mordor on the Potomac. The bank already has ties with Ripple (custodying RLUSD), owns slices of $IBIT ( ▼ 3.03% ) and $GBTC ( ▼ 3.11% ), and has been whispering tokenization since 2023. 🤫 

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NEWS IN THREE SENTENCES
AI, Stablecoins, & Privacy News 🕵️

🧍‍♂️ Pew Research Confirms Everyone’s Paranoid About AI Fakes

Humans still want to feel something real before Skynet starts blogging. Three in four Americans say they need to know if content was written by a human or an algorithm - turns out authenticity still matters more than efficiency. People are fine with AI spotting fraud or predicting the weather, but not matchmaking or delivering sermons. Worldcoin.

🧠 Talos Builds a Treasury That Runs Itself - on Arbitrum

Talos is creating an AI-powered treasury protocol that rebalances, compounds, and optimizes yield without human lag or committee drama. Running on Arbitrum, it’s slashed gas costs by 90% and unlocked complex strategies that would choke on mainnet fees. Think of it as DeFi’s first CFO that never sleeps, forgets, or rage-quits governance calls. Arbitrum.

🏦 Stablecoin Treasurers Get Their Ops Manual, Courtesy of Axelar

Stablecoin issuers now face the real challenge: moving liquidity across chains without breaking the peg or the law. Axelar’s Interchain Token Service and GMP give them one dashboard to burn, mint, and rebalance like financial gods. The boring part? It works - and that’s exactly how global finance sneaks on-chain. Axelar.

CES
Metaverse, NFT, & Gaming News 🎮️

🧱 MANA Still Fuels Decentraland’s Digital Civilization

Decentraland’s MANA token isn’t just for buying pixel land - it runs the world’s first functioning virtual economy. From creator royalties to DAO governance, it keeps 2.1 million users clothed, funded, and occasionally fashionable. MANA is the bloodstream of a culture that refuses to log off. Decentraland.

NEWS IN THREE SENTENCES
DeFi, DEX, & Lending News 🏦

💹 Curve’s September Was Basically a Liquidity Flex

Curve dropped FXSwap, which already outperforms tricrypto with a tenth of the TVL, while Plasma racked up $25M in a week and Spark’s PayPal pool hit $80M like it was nothing. Add 9%+ savings-crvUSD yields and a Robinhood listing for CRV, and it’s clear Curve is done pretending to be DeFi’s quiet achiever. Curve Finance.

⚡ 1inch Finally Kills the ‘Wrap Your ETH First’ Era

1inch now lets you swap native tokens like ETH or POL in one step - no wrapping, unwrapping, or ritual sacrifices to the gas gods. The NativeOrderFactory quietly handles all the backend nonsense, so users just click once and move on with their lives. It’s DeFi minus the UX trauma, and that’s saying something. 1inch.

🍰 PancakeSwap Rebrands Its IFOs Into CAKE.PAD - Simpler, Burnier, Better

DeFi’s version of pre-IPO access, except you’re paying in pastries and the supply keeps shrinking. CAKE.PAD lets anyone with CAKE jump into early token access events, minus the staking hoops and lockups. Every fee gets burned, every event feeds utility, and participation scales with your appetite. PancakeSwap.

NEWS IN THREE SENTENCES
Protocol News 🏦

🌍 Kaspa’s WarpCore Wants to Replace SWIFT and RippleNet in One Shot

If SWIFT was a fax machine and RippleNet a pager, Kaspa’s the encrypted satellite network eating them both. Kaspa’s blockDAG architecture is out to vaporize settlement intermediaries and give the world instant, programmable, censorship-proof payments. With DagKnight and vProgs, it’ll handle liquidity, compliance, and cross-border execution at Layer 1. Kaspa.

📱 ASI:One Lets You Build an AI That Actually Gets You

The ASI:One mobile app lets you design your AI’s personality, tone, and training data so it reflects you - not the internet’s collective nonsense. You pick its voice, feed it your notes, and it learns from your world instead of someone else’s Reddit history. Artificial Superintelligence Alliance.

LINKS
Links That Don’t Suck 🔗

🛰️ Jupiter under fire for token performance despite strong revenue

🤖 AI ransomware attacks surge as groups leverage automation to target victims – is your crypto secure?

📞 Telegram Founder Pavel Durov reveals Bitcoin funds his lifestyle after an early 2013 investment

💵 Smartpay, handling $1B in annual USDt payments, acquired by Rezolve AI

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Author Disclosure: The author of this newsletter holds positions in ADA, IMX, COPI, MIN, AGIX, ALGO, ZEC, XLM, and NEAR. 📋