Polymarket CEO: Currently Operating at a Loss, Expanding Market Share is Top Priority
**December 9th Update**
Polymarket CEO Shayne Coplan told Axios in an interview Wednesday that the prediction market platform is currently operating at a loss.
“We’re not opposed to making money, but our top priority is building a new market,” he said. “We want to grow this space as much as possible, and capturing as much market share as we can is our main focus.”
Like most prediction markets (and sports betting), Polymarket relies on a spread. Users don’t see upfront transaction fees, but they effectively pay via the spread. The key distinction: Polymarket’s spread goes to liquidity providers—not the platform—with those users earning it for placing orders.
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Spot Gold Price Surges to $4200 per Ounce, Up 0.23% Intraday
On December 9, spot gold rose $12 in the short term, topping $4,200 per ounce with a 0.23% intraday gain, per market data.
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「30-Time Long Loser Whale」 Increases ETH Spot Holdings by Around $6.4 Million, Opening Long Position on Perpetual Contract Simultaneously
December 9 – Per monitoring from HyperInsight, the wallet labeled “Whale with 30 Failed Long Attempts” (0x8d0) has been steadily accumulating ETH spot holdings at ~$3,115 over the past 3 hours, while opening a 20x leveraged ETH long position.
The whale holds 2,004 ETH (~$6.24 million) in spot, with the leveraged long position totaling ~$6.24 million at an average entry price of $3,125.
Earlier today, the address also added 66.13 BTC (~$6.01 million) to its holdings. Currently, all ETH and BTC spot holdings from this address have been transferred out to other chains.
Since October 11, the whale has frequently executed intraday long positions across multiple tokens. As of November 26, it had placed over 30 long trades, incurring ~$6 million in losses—though it has posted a small profit over the past 7 days.
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WEEX C2C now supports trading between 8 fiat currencies and cryptocurrencies
December 9th: WEEX announced that its C2C platform now supports eight fiat currencies for trading with cryptocurrencies. The supported fiat currencies include the Russian Ruble (RUB), Ukrainian Hryvnia (UAH), Indian Rupee (INR), Vietnamese Dong (VND), Pakistani Rupee (PKR), Argentine Peso (ARS), Brazilian Real (BRL), and Mexican Peso (MXN).
The platform’s supported cryptocurrencies currently cover USDT, USDC, BTC, and ETH. Additionally, WEEX C2C has been listed on real-time crypto price platforms like CryptoNow.
Currently, WEEX C2C is running an exclusive new user event: after completing identity verification, new users can purchase USDT at the lowest price across the network.
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Fed Decision Preview: More Important than Rate Cut is Balance Sheet Signal
**Dec. 9 (Jin10)** — Foreign media analyses note the Federal Reserve officially ended its balance sheet reduction on Dec. 1. Bank reserves have fallen to historically low levels tied to funding constraints, while the Secured Overnight Financing Rate (SOFR) has periodically breached the upper bound of the Fed’s policy rate corridor. The trend suggests the U.S. banking system is gradually slipping into a liquidity crunch.
Against this backdrop, the most critical signal from the latest FOMC communication may not be a 25-basis-point rate cut, but the direction of the Fed’s balance sheet strategy. The central bank is expected to clarify—either directly or via its implementation note—how it will transition to a Reserves Management Purchase (RMP) program.
Evercore ISI forecasts the program could launch as early as January 2026, with monthly Treasury purchases of roughly $35 billion, driving annual balance sheet expansion of more than $400 billion.
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