Meta wants to know what you think will happen next

Zuckerberg is building a prediction market. Vitalik is cutting the Ethereum Foundation by 40%. And Wall Street's FOMO on tokenized funds is now official. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ SPONSORED BY Tuesday, June 23, 2026 Meta is developing a prediction market app called 'Arena' as sector booms: NYT Mark Zuckerberg has directed a small team at Meta to build a standalone prediction market app called Arena — designed to let users forecast outcomes in politics, sports, entertainment, and world affairs. The project is a top internal priority, per two employees with knowledge of the plans who spoke with the New York Times. Arena will operate independently from Facebook, Instagram, WhatsApp, and Messenger, using Meta's combined audience of over 3.56 billion daily active users as its distribution engine — an immediate scale advantage no existing prediction market platform can match. The initial version will use a video game-style points system rather than real money, though real-money wagering hasn't been ruled out for the future. Meta previously launched a similar initiative called Forecast in 2020 before shutting it down in 2022. The revival comes as the sector eyes $1 trillion in annual trading volume by decade's end, and as Polymarket, Kalshi, Robinhood, Coinbase, and Kraken all expand into event contracts. Regulatory scrutiny over whether such products constitute gambling or legitimate financial instruments is intensifying alongside the market growth. Read the full story → A message from Fidelity Careers Drive your crypto career forward at Fidelity It's an exciting time to be working in crypto, and Fidelity provides the resources and platform you need to truly grow and scale your impact. At Fidelity, we've been building our digital assets ecosystem since 2014 with the same rigor and long-term commitment as our traditional asset classes. Our builders work with a unique "scan, try, scale" approach, giving you the experimental nature of a startup backed by the reach and depth of a large institution. This is how we turn groundbreaking ideas into reality. Whether your background is in UX, product management, tech, or operations, we want your help to discover what's next. Let's turn the promise of digital assets into a reality, together. Learn more about crypto careers at Fidelity Tech Vitalik Buterin says Ethereum Foundation will cut budget 40% in major reset The Ethereum Foundation will slash its budget by roughly 40% this year and cut 54 staff — about 20% of its workforce — as it restructures around five domain clusters and transitions to a lean endowment model, Vitalik Buterin confirmed in a blog post Tuesday. The goal: reduce annual spending from roughly 15% of treasury assets before 2026 to around 5% by 2030, making the organization self-sustaining indefinitely rather than drawing down capital. The restructuring also shuts down the Privacy and Scaling Explorations unit, shrinks Devcon to cut costs, and narrows the EF's institutional strategy. Co-Executive Director Hsiao-Wei Wang resigned the same day, bringing the total number of senior departures since January to nine. Buterin acknowledged the human cost directly — "I respect my EF colleagues far too much to pretend that there was not much that is lost" — but framed the cuts as a deliberate shift from breadth to longevity, with the foundation focusing exclusively on CROPS: censorship resistance, openness, privacy, and security. Work the EF no longer funds is expected to migrate to Ethlabs, independent client teams, and AI-assisted formal verification tools. Read more → Markets BNY sees 'FOMO' driving asset managers into tokenized funds Asset managers are accelerating plans to tokenize ETFs despite unresolved questions around regulation, trading infrastructure, and market structure — driven by investor demand and a fear of missing an early foothold in blockchain-based finance, BNY's Ben Slavin told CoinDesk. "We have a number of different projects in flight, different variants to effectively tokenize ETFs," said Slavin, global head of ETFs at BNY. The concern is real: third parties are already creating tokenized versions of existing ETFs that trade outside traditional financial markets without the original issuers' involvement — creating reputational risk for firms that wait too long. Pantera Capital's Q1 report put a number on the momentum: 168 new tokenization assets launched in 2025. The SEC now oversees more than $1 billion in tokenized money market funds. BlackRock's BUIDL fund alone has reached $2.1 billion in AUM. BNY is building and operating the custody and servicing infrastructure that other firms plug into — its Goldman Sachs DAP partnership providing the blockchain layer — positioning itself as the connective tissue of institutional tokenized finance rather than a direct product issuer. Read more → Know someone who should be reading this? Share this newsletter See all of CoinDesk’s newsletters    CoinDesk, Inc., 61 9th Avenue, 5th Floor, New York,NY,10011,USA, Unsubscribe Manage Preferences   Copyright © 2026 CoinDesk, All rights reserved.

Why is CZ betting on America again?

Our exclusive sit-down with CZ on freedom, prison, and the future of money. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  CoinDesk Spotlight Exclusive Interview A Conversation With Changpeng Zhao CZ on freedom, prison, and why he's betting on America again In a rare, wide-ranging sit-down, the Binance founder opens up about the meaning of financial freedom, the four months that changed him, where AI and crypto collide next, and why he's done staying away from the U.S. ►  Watch the Full Interview “The U.S. Constitution is actually an extremely good white paper.” — CZ What He Told Us Two kinds of freedom CZ draws a sharp line between financial freedom — having enough to live the way you want — and freedom of money, the right to spend, send, receive, and invest without gatekeepers. The first, he argues, is within reach for anyone willing to live frugally. The second is where most of the world is still stuck: billions of people with a phone and a connection but no access to the financial tools Americans take for granted. Closing that gap, he says, not chasing the next price spike, is still what drives him. Why he's betting on America again After his prosecution under the previous administration, CZ admits he wanted to stay as far from the U.S. as possible — a year and a half ago he wouldn't have sat for an interview on American soil. What changed his mind was watching the country correct course. He now describes the Constitution as a system brilliantly built to self-heal, and credits that resilience for America's role as the world's economic and policy leader. His goal now: help make the U.S. the capital of crypto — and fix the fact that, in his view, U.S. consumers still pay some of the worst prices in the world to buy and sell crypto. AI and crypto are about to collide His clearest conviction is about where AI and crypto meet. Today an AI can find your flight but can't buy it — the moment agents can transact, he argues, they'll do it on crypto rails, making financial infrastructure for machines one of the biggest demands on the horizon. He's already watching the lines blur: people are buying AI stocks with crypto, and in his view crypto shouldn't be its own industry any more than “the internet” is. It's foundational plumbing every other sector will eventually run on. On the hype — then and now He's blunt about 2022: the industry got drunk on its own story, the way the dot-com era did before it. He expects AI to run the same cycle — an overpriced peak, a crash, and steady growth underneath it all. The upside for crypto, he says, is that the speculative money has largely rotated into AI, leaving the long-term builders behind — a healthier base, even if prices don't moonshot overnight. On the CLARITY Act, he's measured: important, but a tactical milestone, not the thing that decides the industry's trajectory over five, ten, or twenty years. Four months, a book, and what he saw CZ wrote much of his book, Freedom of Money, behind bars, in 15-minute increments grabbed between routines. The first draft, he says, came out angry — full of blame — and the real work was subtracting it, coming to terms with what happened and letting it go. The experience exposed his blind spots (he admits he never learned enough about legal and compliance, and it cost him) and his strengths (a calm, almost stoic temperament he credits for steadying his teams). He has since donated roughly $2 million to Prison Professors, a nonprofit run by a man who served 26 years, and says plainly that many of the people he met inside should never have been there. Life after running Binance Still the single largest shareholder, CZ no longer runs Binance day to day — and says he doesn't want to. By his own account, the company may execute better without him. His wealth remains overwhelmingly in BNB, and his focus has shifted to early-stage founders, where small teams move fast. He's a zero-to-one person, he says; the weekly status meetings of a large organization were never his thing. The full conversation goes deeper. Hear CZ in his own words on security in 2026, advice to founders, and what he'd tell the 12-year-old who landed in Canada. ►  Watch on YouTube See all of CoinDesk’s newsletters    CoinDesk, Inc., 61 9th Avenue, 5th Floor, New York,NY,10011,USA, Unsubscribe Manage Preferences   Copyright © 2026 CoinDesk, All rights reserved.

Cheap volatility before the biggest expiry of the year

Bitcoin vol is cheap heading into a $10.5B options expiry Friday. Korea’s market circuit-broke. SpaceX shed $600B. BTC is holding the 200-week SMA. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ SPONSORED BY Tuesday, June 23, 2026   Bitcoin volatility looks cheap heading into Friday’s $10.5 billion quarterly options expiry — and that matters because cheap vol is an invitation. Deribit’s DVOL index sits at 41.5%, well below February’s peak of 90%, which means the market is pricing small swings precisely when large ones may be coming. South Korea’s Kospi circuit-broke for the fourth time this year, down 10% as Samsung and SK Hynix plunged on AI spending doubts. SpaceX has shed $600 billion in market value over three days. QQQ futures are down 3%. BTC is slipping toward $63,000 — but it’s holding the 200-week moving average better than anything else in risk assets today. Read today’s full report → Market snapshot As of 8am EST Asset Price 24h BTC $62,445 −2.71% ETH $1,649 −5.49% SOL $68.93 −6.48% XRP $1.10 −2.66% Prices approximate. Visit coindesk.com/price for live data. A message from Grayscale Grayscale Solana Trust ETF: 100% Staking Grayscale Solana Trust ETF (ticker: GSOL) is now delivering enhanced value to investors, including 100% staking.* Solana staking rewards have historically averaged 6-8% a year.2 GSOL, an exchange traded product, is not registered under the Investment Company Act of 1940, as amended (“40 Act”), and therefore is not subject to the same regulations and protections as 40 Act registered ETFs and mutual funds. GSOL is subject to significant risk and heightened volatility. GSOL is not suitable for an investor who cannot afford to the loss of the entire investment. An investment in GSOL is not a direct investment in Solana. Please read the prospectus carefully before investing in the Fund. Foreside Fund Services, LLC is the Marketing Agent for the Fund. Potential staking rewards are earned by the Fund. Staking rewards are not guaranteed and should not be considered an indication of Fund performance. The Fund’s ability to engage in staking is conditional and may be modified. Staking requires that the Fund lock up SOL for the period of time required by the staking protocol, meaning the Fund cannot sell or transfer the staked SOL, thereby making it illiquid for the period it is being staked. 1 As of 6/4/26 2 Stakingrewards.com. The range observed is from 09/16/22 to 09/28/25 and the average over this period is 7.10%. Past performance is not indicative of future results. Learn more CoinDesk Disclosure: The information contained in this newsletter, and any information linked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. You should seek additional information regarding the merits and risks of investing in any cryptocurrency or digital assets. L1.co Disclosure: This material is for informational purposes only, and the content contained herein should not be considered investment advice or a solicitation, offer, or recommendation to sell or buy any asset, strategy, or product. Investing in digital assets involves a high degree of risk, including the loss of principal. What matters today Markets   Story 1 of 3 Bitcoin volatility looks cheap as a $10.5 billion options settlement nears. Deribit’s bitcoin volatility index, DVOL, is trading at 41.5% — well below February’s peak of 90% and slightly above May’s lows — heading into Friday’s $10.5 billion quarterly options expiry, the largest of the year. “Vol is cheap relative to its own history but no longer at fire-sale levels,” Deribit CCO Jean-David Péquignot told CoinDesk. The significance: cheap implied volatility means options premium is low, making it inexpensive to buy directional exposure — particularly on the bullish side — right before a catalyst event. The quarterly expiry on Friday is one of the largest scheduled volatility events of the year. Most of the open call interest is now underwater as spot has fallen through the quarter. An altcoin season signal also flashed this week: BTC has declined faster than alts, causing the BTC dominance ratio to briefly drop — the classic mechanical trigger. But in this case it was set off by BTC weakness rather than alt strength, a distinction that matters for reading the signal correctly. Read more → Markets   Story 2 of 3 An altcoin season signal flashed — but it was bitcoin’s slide that set it off. South Korea’s Kospi triggered its fourth circuit breaker of the year, closing down 10%, as Samsung Electronics and SK Hynix each fell more than 12% and foreign investors dumped over $2.5 billion of Korean shares. The catalyst: AI spending doubt. Samsung and SK Hynix are global proxies for AI chip demand, so their slide is the same trade hitting SpaceX — down another 15% Tuesday — and the Nasdaq, where QQQ futures are off nearly 3% in pre-market. Leveraged ETFs tracking the chip names amplified the Korean selloff, with one fund targeting twice SK Hynix’s daily return losing more than 25%. Korea’s volatility gauge spiked toward 90. Bitcoin absorbed the backdrop and fell less than 1% over three days while SpaceX lost $600 billion in market cap. The average crypto RSI sits at 39.05, in oversold territory — a condition that has historically preceded short-term relief rallies but requires a catalyst to sustain. Read more → Markets   Story 3 of 3 Bitcoin slips toward $63,000 as a tech selloff drags risk assets lower. Bitcoin fell to $62,840 on Tuesday, down 1.1% over 24 hours and 3.5% on the week, as a rotation out of AI and chip stocks bled into crypto. The Coinbase premium remains negative — signalling absent U.S. institutional spot demand — and Strategy’s STRC preferred stock is under renewed pressure, adding a company-specific headwind to the macro backdrop. BTC is holding above the 200-week moving average, currently sitting just above $64,000, which has served as key support throughout this bear phase. Analysts identify $59,000–$60,000 as the next significant support zone if current levels break; a move into that range would likely represent the deepest test of the bull thesis since the October 2025 peak. Micron earnings and the core PCE print later this week are the two macro catalysts that could either extend the selling or trigger the relief rally the oversold RSI readings are hinting at. Read more → CoinDesk Disclosure: The information contained in this newsletter, and any information linked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. You should seek additional information regarding the merits and risks of investing in any cryptocurrency or digital assets. L1.co Disclosure: This material is for informational purposes only, and the content contained herein should not be considered investment advice or a solicitation, offer, or recommendation to sell or buy any asset, strategy, or product. Investing in digital assets involves a high degree of risk, including the loss of principal. Crypto Daybook Americas: A newsletter from CoinDesk Were you forwarded this newsletter? Sign up here.  Copyright © 2026 CoinDesk, All rights reserved.  CoinDesk, Inc., 61 9th Avenue, 5th Floor, New York, NY 10011, USA Unsubscribe Manage preferences