The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Happy Tuesday! The expectation of further Fed rate cuts on Wednesday, alongside renewed optimism over U.S.–China trade talks, has bitcoin poised to punch past its prior $125k highs into year-end, 21Shares Crypto Investment Specialist David Hernandez told The Block.
In today's newsletter, Trump's Truth Social jumps into prediction markets, Circle launches Arc on public testnet, MetaMask goes multichain, and more.
Meanwhile, tokenization giant Securitize is set to go public via a $1.25 billion SPAC deal. Plus, Western Union plans a stablecoin launch on Solana for early 2026.
Let's get started!
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Trump-backed Truth Social jumps into prediction markets with Crypto.com
Trump Media and Technology Group's Truth Social is entering the prediction market space through an exclusive partnership with Crypto.com to launch "Truth Predict."
- The new feature will let Truth Social users trade event contracts on politics, markets, sports, and more via CDNA's federally compliant infrastructure.
- Truth Predict will also integrate with Crypto.com's Cronos token, allowing users to convert "Truth gems" into CRO for purchasing prediction contracts.
- Trump Media CEO Devin Nunes said the move makes Truth Social the world's first publicly traded social platform to offer prediction markets, describing it as a step toward "democratizing information" and "turning free speech into actionable foresight."
- The upcoming launch comes amid a record-breaking boom for prediction markets, with leading platforms Kalshi and Polymarket gaining growing investor interest at multibillion-dollar valuations.
Circle launches Arc public testnet with over 100 institutional participants
Stablecoin issuer Circle has launched the public testnet for Arc, its new Layer 1 blockchain designed as an "Economic Operating System" to bring global financial and enterprise activity onchain.
- More than 100 institutions — including BlackRock, Visa, AWS, Goldman Sachs, and Anthropic — are participating in Arc's early development across payments, banking, technology, and capital markets.
- Built with predictable dollar-based fees, sub-second finality, opt-in configurable privacy, and direct integration with Circle's full-stack, Arc uses USDC as its native gas token to power real-time payments and other tokenized asset issuance.
- The network's roadmap includes expanding validator participation and developing transparent governance frameworks to transition Arc toward community-driven operation.
MetaMask goes multichain: one account supports EVM, Solana and soon Bitcoin
MetaMask has launched multichain accounts, enabling users to manage EVM, Solana, and soon Bitcoin addresses within a single account.
- The update simplifies wallet management by merging EVM and non-EVM addresses, reducing account switching and making cross-network activity seamless.
- The feature is live by default in MetaMask Mobile 7.57 and Extension 13.5, using the BIP-44 standard to organize multiple accounts from one recovery phrase.
- Meanwhile, speculation surrounding MetaMask's long-rumored MASK token grew after a claims site appeared on Monday, following comments from Consensys CEO Joe Lubin hinting the launch may be imminent, and ahead of today's MetaMask Rewards Season 1 rollout.
TeraWulf expands AI push with $9.5B Google-backed Fluidstack venture as stock jumps 25%
TeraWulf extended its partnership with AI cloud platform Fluidstack to build a 168 MW data center in Texas, backed by $1.3 billion in Google lease support and projected to generate $9.5 billion in contracted revenue.
- The joint venture expands TeraWulf's total contracted high-performance computing capacity beyond 510 MW and secures the bitcoin miner a 51% ownership stake in the 25-year project.
- The company also reported preliminary Q3 revenue growth of 84% year-over-year to between $48 and $52 million on Tuesday, driven by its diversification into long-term AI and HPC hosting contracts.
- Oppenheimer initiated coverage on TeraWulf with an outperform rating and $20 price target, as its stock jumped 25% to $16.92 following the announcement, extending its 134% year-to-date rally.
Metaplanet starts share buyback program to address mNAV decline
Metaplanet launched a share repurchase program backed by a $500 million credit facility to improve capital efficiency and counter its declining mNAV ratio, which measures the value of the enterprise relative to its bitcoin holdings.
- The Tokyo-listed bitcoin treasury firm plans to repurchase up to 150 million shares, representing about 13% of its float, as part of a year-long program.
- Despite a 43% year-to-date gain, Metaplanet's stock now trades 73% below its June peak, with its mNAV currently sitting at 1.03, down from a high of 10.33 in February.
- Nevertheless, the company reaffirmed its long-term goal of holding 210,000 BTC by 2027.
In the next 24 hours
- The U.S. Federal Reserve's latest interest rate decision is due at 2 p.m. ET on Wednesday.
- The U.S. FOMC press conference is scheduled for 2:30 p.m.
- IOTA is set for a token unlock.
- Blockchain Life concludes in Dubai. Money20/20 finishes up in Las Vegas.
Never miss a beat with The Block's daily digest of the most influential events happening across the digital asset ecosystem.
