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New York Sues Polymarket, Seeks to Halt Its Operations

New York Attorney General Letitia James has sued prediction market platform Polymarket US, alleging that it operates an unlicensed gambling business. State authorities are seeking to stop the company from operating in New York without the required licenses.The lawsuit, announced on September 24, targets QCX LLC, the company behind Polymarket’s US operation. The attorney general is seeking fines, the forfeiture of allegedly unlawful gains, and restitution for affected users.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">New York Classifies Prediction Contracts as Gambling</h2>The attorney general’s office argues that Polymarket’s contracts fall within the definition of gambling under state law. According to the lawsuit, users wager money on events whose outcomes are beyond their control.New York authorities say these activities require a license from the New York State Gaming Commission. They also allege that the company has avoided taxes paid by licensed gambling businesses.Age restrictions are another focus of the case. The attorney general’s office says Polymarket allows users aged 18–20 to participate, while New York requires mobile sports betting users to be at least 21.The state is also asking the court to impose fines equivalent to three times the company’s gains from its allegedly unlawful activities. These requests do not constitute a final court ruling; filing the lawsuit does not automatically ban the platform.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Polymarket Says It Is Staying in New York</h2>Polymarket Chief Legal Officer Neal Kumar said the company would maintain its presence in New York following the lawsuit. Kumar said the company had been working with authorities to address their concerns.Kumar noted that Polymarket was founded in a small New York City apartment and now employs more than 350 people in the city. His statement signaled that the company does not intend to leave its home state.New York’s action forms part of a broader regulatory dispute over prediction markets. The state filed a lawsuit against Kalshi in July over similar allegations.At the center of the dispute is whether these platforms should primarily fall under state gambling laws or federal financial market regulations. The latest lawsuit brings that disagreement back into focus through Polymarket’s US operations.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Polymarket US Differs From the International Platform</h2>Although Polymarket is widely known in the crypto market, there are important differences between its US business and international platform. The international platform uses <a href="https://jrkripto.com/tr/chains" target="_blank" rel="noreferrer" class="text-primary underline">blockchain </a>infrastructure and crypto assets, while Polymarket US operates through a more centralized structure and traditional dollar payments.Polymarket US describes itself as a designated contract market regulated by the US Commodity Futures Trading Commission (CFTC). The lawsuit therefore focuses on the US business’s position under state law, despite its shared branding with the international platform.The international platform’s connection to crypto extends beyond offering predictions about Bitcoin or Ethereum. Its infrastructure on Polygon allows positions tied to event outcomes to be represented as tokens.Users can buy “yes” or “no” shares on an event. Shares corresponding to the correct outcome become redeemable for one dollar when the market resolves, while losing shares become worthless; users can also sell their positions before the outcome is determined.This distinction also matters when assessing the lawsuit’s implications for the crypto sector. New York’s request does not include a blanket ban on Polygon or the platform’s international blockchain infrastructure; the announced legal action concerns the services Polymarket US offers within the state.The case could help shape which licenses and user eligibility requirements apply to prediction markets operating in the United States. For now, the central developments are the state’s request to halt operations and Polymarket’s statement that it intends to remain in New York.

24 Sep 2026

Bitcoin Falls: $613 Million in Crypto Positions Liquidated

The cryptocurrency market recorded $613.5 million in leveraged position liquidations over the past 24 hours. Short positions, opened in anticipation of falling prices, accounted for $70.6 million. Most liquidations affected long positions held by traders expecting prices to rise.According to <a href="https://jrkripto.com/tr/liquidation-data" target="_blank" rel="noreferrer" class="text-primary underline">liquidation </a>data compiled for this report, long liquidations reached $542.9 million. Long positions therefore accounted for 88.49% of total liquidations, while shorts represented approximately 11.51%. Long liquidations were roughly 7.7 times larger than short liquidations. <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/ekran-g-r-nt-s-2026-09-24-134227-f399e580.webp" alt="Ekran görüntüsü 2026-09-24 134227.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> With Bitcoin trading around $84,000, this distribution shows that leveraged bullish positions took the heavier hit. Meanwhile, short liquidations indicate that price swings against bearish positions also triggered forced closures during the broader decline.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Short liquidations reach $70.6 million over 24 hours</h2>According to the time windows shown at the top of the data dashboard, $26.7 million in short positions were liquidated over the past 12 hours. Total liquidations reached $186.6 million during that period, including $159.9 million in longs.Over the past four hours, short liquidations stood at approximately $8.9 million. Long liquidations reached $133.2 million, bringing the total to $142.2 million. Long positions consequently accounted for approximately 93.7% of liquidations during that window.In the past hour, total liquidations amounted to $5.3 million. Shorts accounted for approximately $805,000, while longs represented $4.5 million.These time windows overlap, so adding them together would not produce a separate daily total. Each window covers a different period looking backward from the time the data was captured.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Binance and OKX stand out for short liquidations</h2>In the dashboard’s 12-hour exchange table, Binance recorded the highest short liquidation total among the platforms shown. Approximately $13.1 million in short positions were liquidated on the exchange, while total liquidations reached $86.7 million.Short liquidations stood at approximately $6 million on OKX and $1.8 million on Bybit. Hyperliquid recorded approximately $739,000.Although Hyperliquid’s total liquidations reached $46.5 million, long positions accounted for 98.41% of that amount. The long share stood at 84.90% on Binance, 87.93% on Bybit and 64.45% on OKX.This distribution shows that bullish positions accounted for most liquidations across all four platforms displayed. However, the table covers only forced closures within the relevant period; it does not show the distribution of all outstanding positions.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Rising Treasury yields continue to pressure Bitcoin</h2>Bitcoin traded at approximately $83,900 during the Asian session. Most of the media agencies said rising U.S. Treasury yields increased pressure on crypto assets.Strong U.S. economic activity data, a rebound in oil prices and weak demand at a five-year Treasury auction contributed to the move. The U.S. 10-year Treasury yield closed at 5.11% on Wednesday.The $70.6 million short liquidation figure does not represent the value of bearish positions still open in the market. It reflects the value of short positions forcibly closed over the past 24 hours after failing to meet margin requirements.Similarly, the $613.5 million liquidation total should not be interpreted as an equivalent cash outflow from the market. The figure measures the value of liquidated leveraged positions; it does not directly show traders’ total posted collateral or spot market fund flows.

24 Sep 2026

US Data Pressures Crypto: Bitcoin Falls Below $84,000

Bitcoin fell below $84,000 on Thursday, September 24, as altcoin losses deepened. Rising Treasury yields following strong US economic data weighed on risk appetite in the crypto market.At the time of writing, <a href="https://jrkripto.com/tr/coin/btc" target="_blank" rel="noopener noreferrer" class="text-primary underline">Bitcoin</a> was trading at $83,973, down 2.97% over the past 24 hours. Ethereum fell 2.69% to $2,682, while Dogecoin and XRP posted steeper declines.CoinDesk highlighted strong US business activity data, a rebound in oil prices, and weak demand at a five-year Treasury auction as factors behind the sell-off. These developments, alongside rising borrowing costs, added pressure on crypto assets.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Strong US Data Shifts Interest Rate Expectations</h2>S&P Global’s flash US Composite Purchasing Managers’ Index (PMI) rose to 58.4 in September from 56 in August. The indicator, which covers manufacturing and services, reached its highest level since July 2021.According to Reuters, the US 10-year Treasury yield climbed 8.7 basis points to 5.054%. That brought the benchmark yield to its highest level since 2007.Meanwhile, futures markets priced in a 73% probability of a Fed rate hike in October, up from 53%. This figure reflects market expectations; it does not represent a confirmed Fed decision.Stronger economic activity keeps the possibility of tighter monetary policy in focus. With inflationary pressures persisting, robust demand can reinforce expectations that interest rates will remain elevated.Rising Treasury yields can also affect the crypto market through this channel. As interest-bearing assets become more attractive, investors demand higher returns from volatile assets, potentially limiting demand for Bitcoin and altcoins.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Dogecoin and XRP Lead Losses</h2>Market data at the time of writing showed Dogecoin falling 7.22% over the past 24 hours to approximately $0.0941. XRP traded at $1.5033, down 6.62%.Zcash’s daily loss reached 6.41%, bringing its price to approximately $1,515.50. Hyperliquid’s HYPE token also declined 5.04% to $92.51. <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/ekran-g-r-nt-s-2026-09-24-091342-5c106653.webp" alt="Ekran görüntüsü 2026-09-24 091342.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> Solana fell 2.96% to $114.91, while BNB dropped 2.32% to $772.50. A substantial portion of the major crypto assets shown in the market snapshot therefore remained in negative territory over the past 24 hours.However, the intensity of the selling varied across assets. Dogecoin and XRP recorded daily percentage losses more than twice Bitcoin’s, while TRON posted a smaller decline of 0.21%.Bitcoin’s trading volume over the past 24 hours reached approximately $44.24 billion. Ethereum recorded $16.47 billion in volume, while XRP registered $6.47 billion.These figures represent total trading activity. Trading volume therefore cannot be interpreted as the amount of money leaving the market.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Weekly Gains Remain Intact</h2>Despite the daily declines, weekly returns in the same market snapshot remained positive. Bitcoin gained 10.04% over the past seven days, while Ethereum rose 10.16%.Dogecoin’s weekly gain stood at 16.47%, compared with 16.05% for XRP. Solana retained a weekly advance of 15.52%, while HYPE was up 17.41%.This suggests that the latest selling erased part of the gains from previous days. Although daily losses became more pronounced, the assets covered had yet to surrender their entire weekly advances.The latest crypto market moves brought the influence of US interest rate expectations back into focus. With strong economic data, rising Treasury yields, and a rebound in oil prices creating pressure simultaneously, Bitcoin traded below $84,000 while altcoins recorded losses of varying sizes.

24 Sep 2026

21Shares Lists Zcash and Ether.fi Products in Europe

Crypto investment product provider 21Shares has launched two new exchange-traded products backed by Zcash and Ether.fi in Europe. According to the company’s September 22 announcement, the products trade on Euronext Paris and Euronext Amsterdam.The Zcash product trades under the ticker “ZCASH,” while the Ether.fi product uses “ETHFI.” Both are physically backed by their underlying crypto assets and allow investors to trade through traditional brokerage accounts.The new listings expand access to crypto assets beyond Bitcoin and <a href="https://jrkripto.com/tr/coin/eth" target="_blank" rel="noreferrer" class="text-primary underline">Ethereum </a>through securities accounts. Investors can gain exposure to ZEC and ETHFI prices while leaving token custody to the institutions supporting the products.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Trading in Euros in Paris and Dollars in Amsterdam</h2>According to the listing details released by 21Shares, both products trade in euros on Euronext Paris. Their trading currency in Amsterdam is the US dollar. <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/ekran-g-r-nt-s-2026-09-23-163515-ef827417.webp" alt="Ekran görüntüsü 2026-09-23 163515.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> Both ETPs carry an annual product fee of 2.5%. The Zcash product’s International Securities Identification Number, or ISIN, is CH1608218801, while the Ether.fi product’s ISIN is CH1608218819.The company says the products are available through European brokerage platforms and financial institutions. However, investors’ providers must offer access to the relevant exchanges and products.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Zcash Product Provides Access to a Privacy-Focused Crypto Asset</h2>The 21Shares Zcash ETP aims to bring exposure to ZEC’s price movements into investment accounts. Under its physically backed structure, custodians hold the Zcash assets underlying the product.This model removes the need for investors to open a separate crypto exchange account or manage private keys. Instead, investors hold a security linked to Zcash’s price in their brokerage accounts.Zcash stands out for its optional privacy features. The network’s shielded transactions aim to give users control over the visibility of their transaction details, while its total supply is capped at 21 million coins.21Shares positions the new product as a way to gain exposure to the financial privacy theme. It offers an alternative access route for investors who prefer not to hold ZEC in their own wallets.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Ether.fi ETP Tracks the ETHFI Token</h2>The other product is backed by ETHFI, the governance and utility token of the Ether.fi protocol. The 21Shares announcement highlights the protocol’s evolution from liquid restaking toward broader crypto financial services.Ether.fi’s services include earning yield on assets, borrowing, payments, and spending. The new ETP provides access to the ecosystem’s ETHFI token through an investment account.ETHFI is the product’s underlying asset. Its investment performance therefore differs from direct exposure to Ether’s price or the returns a user might earn by staking through the protocol.The 21Shares product page states that ETHFI assets are held within the product’s structure. Although investors do not need to manage their own wallets, changes in ETHFI’s price continue to affect the value of their investment.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">ETP Structure and Trading Costs Matter</h2>21Shares classifies these instruments as exchange-traded products, or ETPs, in Europe. The company’s product pages explain that ETPs and ETFs have different legal structures.For investors, the trading process resembles buying securities through a brokerage account. However, owning a stake in the product does not provide the same rights and uses as holding the underlying token in a personal wallet.Brokerage commissions and trading costs may apply in addition to the annual 2.5% product fee. Total costs vary depending on the platform and trading frequency.Physical backing does not eliminate crypto asset price volatility. A decline in ZEC or ETHFI can also affect the corresponding ETP; the main change introduced by the listings is broader access to these assets through traditional investment accounts.

23 Sep 2026

BitMEX Halts Trading: How Will Withdrawals Work?

Crypto derivatives exchange BitMEX ended trading operations on Wednesday, September 23, at 04:00 UTC. Users can still access their accounts and withdraw their remaining balances.The closure notice on the exchange’s website confirms that all trading services have ended. <a href="https://jrkripto.com/tr/exchanges/bitmex" target="_blank" rel="noopener noreferrer" class="text-primary underline">BitMEX</a> says it continues to hold remaining user assets in custody, while applying account fees to balances that have not been withdrawn.The next key date for users is September 28. Changes to the withdrawal infrastructure will take effect that day, requiring users who rely on automated systems to process withdrawals through the website.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Why Did BitMEX Close?</h2>BitMEX first announced its closure on July 23. The board of HDR Global Trading Limited, which owns and operates the platform, decided to wind down operations following a review of the business and the broader crypto industry.In its support statement on the closure, the company says the decision did not stem from legal or regulatory issues. BitMEX also maintains that user assets are secure, attributing the closure to the board’s strategic assessment.The exchange followed a phased shutdown schedule. It stopped accepting new account registrations in July and introduced restrictions preventing new positions from August 26.During that period, users could reduce their existing positions. BitMEX’s announced schedule also provided for the system to forcibly close any positions remaining open at the shutdown time.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Withdrawals Will Continue Through the Website</h2>BitMEX’s closure does not eliminate access to remaining account balances. Users can log in to view their wallet balances, transaction history, and withdrawal pages.However, support for API withdrawals will end on September 28 at 04:00 UTC. The change also covers withdrawals through institutional integrations such as Fireblocks and Copper.Users relying on these channels will need to disable their automated workflows and submit withdrawal requests through the BitMEX website. September 28 therefore marks a deadline for API access; it does not mean website withdrawals will end that day.Support for withdrawing USDT, USDC, and ETH across multiple networks will also end on the same date. According to BitMEX’s schedule, these three assets will subsequently be held and available for withdrawal only on the Ethereum network.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Key Details on Remaining Balances and New Transfers</h2>According to the exchange, assets left in accounts after the closure will be subject to account fees. Continued withdrawal access therefore does not mean users can keep their balances on the platform free of charge.Users must also avoid sending new transfers to their old deposit addresses. BitMEX’s support page states that deposits sent after the September 23 closure time will not be credited to account balances and will not be recoverable.The platform has also unstaked BMEX tokens. This gives users access to manage those tokens in their accounts and transfer them to external addresses.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">BitMEX Warns Against Fake Withdrawal Services</h2>BitMEX also highlighted potential scams targeting users during the shutdown. The company said it does not offer priority or expedited withdrawal services.It noted that additional reviews and blockchain network capacity could delay withdrawal requests. Bitcoin block confirmation times, in particular, can affect how quickly transfers are completed.According to the company, requests marked “Processing” remain in the queue. BitMEX urges users to monitor withdrawal status through their official accounts and remain alert to fraudulent links exploiting the closure announcement.

23 Sep 2026

Blockchain

New York Sues Polymarket, Seeks to Halt Its Operationsabout 5 hours ago

BTC, Altcoin

Bitcoin Falls: $613 Million in Crypto Positions Liquidatedabout 11 hours ago

BTC, Altcoin

US Data Pressures Crypto: Bitcoin Falls Below $84,000about 15 hours ago

Altcoin

21Shares Lists Zcash and Ether.fi Products in Europe1 day ago

BTC, Altcoin

BitMEX Halts Trading: How Will Withdrawals Work?1 day ago

Blockchain

New York Sues Polymarket, Seeks to Halt Its Operationsabout 5 hours ago

BTC, Altcoin

Bitcoin Falls: $613 Million in Crypto Positions Liquidatedabout 11 hours ago

BTC, Altcoin

US Data Pressures Crypto: Bitcoin Falls Below $84,000about 15 hours ago

Altcoin

21Shares Lists Zcash and Ether.fi Products in Europe1 day ago

BTC, Altcoin

BitMEX Halts Trading: How Will Withdrawals Work?1 day ago

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