Connect with us

Business

Polymarket payouts to be delayed unless Fox, NBC agree on US election winner

Published

on

Polymarket, a decentralized prediction market platform, has announced it will delay payouts for its U.S. presidential election markets until major news outlets, FOX News and NBC, officially declare the winner. The platform, which allows users to bet on the outcomes of various events, typically pays out on election predictions once a winner is publicly acknowledged by a leading news organization. However, due to ongoing disputes regarding the timing of results, Polymarket has stated it will hold off on processing payments for markets related to the election until both FOX and NBC make their official calls.

The delay comes amid growing scrutiny over election result reporting and the increasing reliance on mainstream media outlets to make determinations on electoral victories. As of now, the platforms’ users are unable to cash out on their predictions due to the ambiguity surrounding the media’s declarations, even though many states have finalized vote counts. Polymarket’s decision to wait for these specific outlets to provide their confirmation highlights the influence of traditional media in shaping the timelines for event outcomes on prediction markets.

Polymarket has defended its stance, asserting that it seeks to maintain consistency with the verification processes that have been used for past elections. In the statement, the platform clarified that once FOX and NBC announce a winner, payouts would be processed promptly. This cautious approach aims to ensure that all participants receive payouts that align with mainstream consensus, minimizing any disputes over the validity of election results.

The move has sparked discussion about the role of media in online prediction markets, with some critics questioning whether these platforms are overly reliant on traditional news channels for resolution. Others argue that such measures are necessary to maintain credibility and avoid chaos in event resolution. The outcome of this decision could have wider implications for how decentralized prediction markets handle contentious events in the future.

Business

Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

Published

on

Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

Continue Reading

Business

Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

Published

on

Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

Continue Reading

Business

Hackers are selling counterfeit phones with crypto-stealing malware

Published

on

Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

Continue Reading

Trending

Copyright © 2025 cryptonews.lk