Endorsed by Gambling911

Trump, Biden Change Their Tune on Cryptos While Ether's Price Surges

Written by:

Aaron Goldstein

Published on:

May/31/2024

Key takeaways:

Trump now wants the U.S. to be a crypto powerhouse while Biden's aides have reached out to important players in the sector.
Odds are available on Ether crossing the $4000 mark by June 7.
Odds are also available Trump mentioning cryptos by next week.

Former U.S. president Donald Trump and current U.S. president Joe Biden have changed their tone on cryptocurrencies.

Trump has promised to make the U.S. a leader in digital assets during recent campaign events. And Biden’s aides have responded by reaching out to major players in the crypto market.

Ether's price, meanwhile, has surged to nearly $4k, then pulls back: After the SEC approved eight Ether ETFs last week, analysts expect anticipated inflows to be 15-30% of Bitcoin ETF levels. So far, the price of ether has remained relatively flat since the SEC approved ETH ETFs.

There Are Betting Markets For This

Ethereum above $3,800 on June 7?

There is a 62% chance or odds of -163.

This market can be found at Polymarket.

This market will resolve to "Yes" if the Binance 1 minute candle for ETHUSDT 7 June '24 12:00 in the ET timezone (noon) has a final “Close” price of 3,800.01 or higher. Otherwise, this market will resolve to "No".

The resolution source for this market is Binance, specifically the ETHUSDT "Close" prices currently available at https://www.binance.com/en/trade/ETH_USDT with “1m” and “Candles” selected on the top bar.

Please note that this market is about the price according to Binance ETHUSDT, not according to other sources or spot markets.

Will Trump talk about crypto by next Friday?

This market has a near 50% chance (48%).

This market will resolve to “Yes” if Donald Trump publicly mentions crypto or any cryptocurrency between May 30, 2024, 12:00 PM ET, and June 7, 2024, 11:59 PM ET. Otherwise, this market will resolve to “No”.

A ‘mention’ includes the following:

-A verbal usage of crypto, specifically in relation to cryptocurrency, crypto-related terms or memes, or any cryptocurrency in particular.
-Any usage of crypto, crypto terms or memes, or any cryptocurrency in particular on Trump's social media or other official communication channels regardless of capitalization/punctuation. This includes usages in written, image, audio, or video media.

The resolution source for this market is a consensus of credible reporting.

By Aaron Goldstein

Aaron is our long time business reporter. He resides in Jersey City, New Jersey.

Business/Financial News

FTX Exec Caroline Ellison Faces Sentencing and We Got Her Prison Odds

Caroline Ellison, the one-time top executive at Sam Bankman-Fried ’s fallen FTX cryptocurrency empire was set to face sentencing Tuesday.

The Fed’s Biggest Interest Rate Call in Years Happens Wednesday: Bettors Still Split

As of Wednesday morning, the gambling market was still split on a 25 and 50 basis point decrease.

Can I Start an Online Sportsbook From Washington State

Starting an online sportsbook from the state of Washington was already possible prior to this year thanks to a number of Pay Per Head software providers that offered local bookies and agents the chance to move the brunt of their business enterprise offshore.

Gamblers Split on Fed Rate Cut Basis Points Amount

For its part, the betting markets seem torn between a 25 basis points decrease and a 50 basis points decrease. The latter is becoming more favored and should be announced on Wednesday.

Why Ethereum Price is Underperforming Compared to Wider Crypto Market

Lower network fees, unappealing staking rewards and weak demand for its recently launched spot exchange-traded fund (ETF) products could be at play.