Gate.io Launches INIT Perpetual Contract Pre-trading

Coindesk reported on January 11 that Tennessee’s regulatory agency has ordered Kalshi, Polymarket, and Crypto.com to stop offering sports event prediction services to state residents, citing unlicensed operations in violation of the state’s gambling laws. The firms are currently registered with the U.S. Commodity Futures Trading Commission (CFTC) as designated contract markets, allowing users to buy contracts tied to sporting event outcomes. However, Tennessee’s “Sports Gaming Act” requires any entity accepting sports bets to hold a license issued by the state government. The companies were instructed to cease all Tennessee operations by Jan. 31, cancel any outstanding contracts with state residents, and refund all deposits. Non-compliance could lead to civil penalties of up to $25,000 per violation, plus potential criminal court referral for aggravated gambling promotion — a felony under Tennessee law.

January 11 – Per monitoring from onchainschool.pro, a wallet transferred $2.2M in TRUMP tokens to Binance early this morning. Most of these tokens were withdrawn from a centralized exchange (CEX) roughly 8 months ago. The actual estimated loss is projected to hit $2.5M, with the drop exceeding 50%.

January 11th — PeckShield monitoring shows that computation verification platform Truebit was exploited to steal 8,535 ETH two days prior. Four hours ago today, the hacker successfully laundered the stolen funds (valued at $26.36 million) via Tornado Cash.

On January 11th, Nikolay Denisenko, co-founder of crypto payment app Brighty, said hundreds of high-net-worth individuals have used cryptocurrency to purchase real estate in Europe over the past year. The platform has facilitated more than 100 transactions, primarily focused in the UK, France, Malta, Cyprus and Andorra, with values ranging from roughly $500,000 to $2.5 million. Previously, the app’s high-net-worth clients mostly used Circle’s USDC; however, to avoid conversion fees, more clients are now turning to euro-pegged stablecoins (such as EURC), per CoinDesk.

On January 10, on-chain analytics firm Lookonchain reported that whale address bc1q57 withdrew 1,320 BTC—valued at roughly $119.6 million—from Binance two hours prior.