{"id":19609,"date":"2026-01-11T09:42:08","date_gmt":"2026-01-11T09:42:08","guid":{"rendered":"https:\/\/bitunikey.com\/news\/tennessee-orders-prediction-platforms-to-cease-operations-bny-launches-tokenized-deposits-okx-restructures-institutional-team-weekly-recap\/"},"modified":"2026-01-11T09:42:27","modified_gmt":"2026-01-11T09:42:27","slug":"tennessee-orders-prediction-platforms-to-cease-operations-bny-launches-tokenized-deposits-okx-restructures-institutional-team-weekly-recap","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/tennessee-orders-prediction-platforms-to-cease-operations-bny-launches-tokenized-deposits-okx-restructures-institutional-team-weekly-recap\/","title":{"rendered":"Tennessee orders prediction platforms to cease operations, BNY launches tokenized deposits, OKX restructures institutional team | Weekly Recap"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">In this week\u2019s edition of the weekly recap, Tennessee officials issued cease-and-desist orders to major prediction market platforms alleging unlicensed sports wagering, while BNY advances the tokenized deposit platform launch.<\/p>\n<div id=\"cn-block-summary-block_dbf01676ff54cde57acab2a78b755072\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Tennessee ordered Kalshi, Polymarket and Crypto.com to halt sports prediction markets.<\/li>\n<li>BNY Mellon launched blockchain-based deposit settlement as banks expand into crypto rails.<\/li>\n<li>Truebit lost $26.6M in ETH as security risks and regulatory pressure hit the market.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<h3 class=\"wp-block-heading\">Tennessee targets prediction market platforms<\/h3>\n<ul class=\"wp-block-list\">\n<li>The Tennessee Sports Wagering Council issued January 9 cease-and-desist letters to Kalshi, Polymarket, and Crypto.com, ordering them to stop offering sports event contracts to state residents.<\/li>\n<li>Regulators accused all three firms of illegally operating sports wagering products without required licenses under the guise of event contracts.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">BNY introduces blockchain deposit settlement<\/h3>\n<ul class=\"wp-block-list\">\n<li>The world\u2019s largest custodial bank, managing nearly $58 trillion in assets, launched a platform enabling institutional clients to settle bank deposits on blockchain infrastructure.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">OKX implements institutional business restructuring<\/h3>\n<ul class=\"wp-block-list\">\n<li>The cryptocurrency exchange recently reorganized its global institutional operations, resulting in job eliminations across the division.<\/li>\n<li>While exact numbers remain undisclosed, one source indicated half the team was terminated. However, another person reported 8-10 layoffs with 3-4 voluntary departures when restructuring was announced.<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h3 class=\"wp-block-heading\">Buterin supports convicted Tornado Cash developer<\/h3>\n<ul class=\"wp-block-list\">\n<li>Ethereum co-founder Vitalik Buterin publicly backed Roman Storm, convicted last August on money transmitting charges.<\/li>\n<li>He argued that privacy-preserving software constitutes a fundamental human right.<\/li>\n<li>Buterin stated Friday on X that he has \u201csupported Roman Storm\u2019s work from the beginning both as a strong believer in the importance of privacy, and as an active user of privacy tools, including those developed by Roman.\u201d<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Ripple obtains UK regulatory authorization<\/h3>\n<ul class=\"wp-block-list\">\n<li>Ripple <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/ripple.com\/ripple-press\/ripple-receives-fca-permissions-to-scale-ripple-payments-in-the-uk\/\" target=\"_blank\" rel=\"nofollow\">secured<\/a> approval from the Financial Conduct Authority for its Electronic Money Institution license and crypto asset registration.<\/li>\n<li>This regulatory clearance allows Ripple to expand platform operations within the United Kingdom under comprehensive financial services oversight.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Truebit suffers $26.6 million security breach<\/h3>\n<ul class=\"wp-block-list\">\n<li>The Ethereum-based verification and computation protocol lost approximately 8,535 ETH ($26.6 million) in a Thursday security incident involving malicious actors.<\/li>\n<li>On-chain analytics platform Lookonchain identified the approximately 8,535 ETH loss through blockchain transaction analysis.<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h3 class=\"wp-block-heading\">Trump rejects Bankman-Fried pardon possibility<\/h3>\n<ul class=\"wp-block-list\">\n<li>President Donald Trump <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2026\/01\/08\/us\/politics\/sean-combs-pardon.html?smid=url-share\" target=\"_blank\" rel=\"nofollow\">ruled out<\/a> Thursday a pardon for FTX co-founder Sam Bankman-Fried.<\/li>\n<li>The statement came while responding to New York Times reporter questioning about pardon requests for several high-profile figures including Sean \u201cDiddy\u201d Combs.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Florida proposes state Bitcoin reserve legislation<\/h3>\n<ul class=\"wp-block-list\">\n<li>Florida lawmakers filed a new proposal authorizing creation of a state-managed Bitcoin reserve.<\/li>\n<li>The legislative initiative arrives ahead of the 2026 session beginning January 13.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Optimism Foundation proposes token buyback program<\/h3>\n<ul class=\"wp-block-list\">\n<li>The governance organization suggested instituting a buyback program to \u201calign the OP token\u201d with the Superchain.<\/li>\n<li>If approved, the governance project would allocate 50% of Superchain revenue to monthly over-the-counter token acquisitions.<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h3 class=\"wp-block-heading\">Indian tax authorities challenge crypto enforcement<\/h3>\n<ul class=\"wp-block-list\">\n<li>Income tax officials <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/timesofindia.indiatimes.com\/india\/i-t-department-flags-crypto-risks-opposes-entry\/articleshow\/126402100.cms\" target=\"_blank\" rel=\"nofollow\">joined<\/a> the Reserve Bank of India in raising concerns about virtual digital assets.<\/li>\n<li>They cited enforcement challenges threatening the government\u2019s ability to track and tax cryptocurrency transactions.<\/li>\n<li>Tax authorities presented Wednesday their concerns about cryptocurrency and other virtual digital assets to the parliamentary standing committee of finance as the Union Budget approaches.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Rumble integrates non-custodial crypto wallet<\/h3>\n<ul class=\"wp-block-list\">\n<li>The video streaming platform and USDT <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.globenewswire.com\/news-release\/2026\/01\/07\/3214379\/0\/en\/Rumble-and-Tether-Launch-Crypto-Wallet-for-Creator-Economy.html\" target=\"_blank\" rel=\"nofollow\">launched<\/a> a non-custodial cryptocurrency wallet embedded directly into Rumble.<\/li>\n<li>This allows audiences to tip creators using digital assets without traditional payment intermediaries.<\/li>\n<li>Rumble Wallet supports Bitcoin, USDT, and Tether Gold at launch according to Wednesday\u2019s announcement.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Ledger partner suffers data breach<\/h3>\n<ul class=\"wp-block-list\">\n<li>The cryptocurrency wallet manufacturer <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.ledger.com\/academy\/topics\/ledgersolutions\/ledger-hardware-devices-explained-the-10-year-evolution?utm_source=chatgpt.com\" target=\"_blank\" rel=\"nofollow\">confirmed<\/a> that e-commerce partner Global-e experienced a data breach.<\/li>\n<li>They also cautioned users that their own hardware and software wallets remain secure.<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>In this week\u2019s edition of the weekly recap, Tennessee officials issued cease-and-desist orders to major prediction market platforms alleging unlicensed sports wagering, while BNY advances the tokenized deposit platform launch.&hellip;<\/p>\n","protected":false},"author":1,"featured_media":19610,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-19609","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/19609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=19609"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/19609\/revisions"}],"predecessor-version":[{"id":19611,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/19609\/revisions\/19611"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/19610"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=19609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=19609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=19609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}