Robinhood (HOOD) is expanding its offerings with the launch of a prediction market on its platform, available through CFTC-regulated exchange Kalshi. The prediction market will allow users to bet on the outcomes of various events.

The Libra token scandal is now subject to scrutiny from the Supreme Court of New York after a class action lawsuit accusing the token’s creators of misleading investors and misappropriating over $100 million through one-sided liquidity pools was filed.

Hedge fund manager Canary Capital has filed with the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) tracking the price of the native token of the popular layer-1 blockchain Sui.

Top stories in the Crypto Roundup today:

• Robinhood Enters Prediction Market Space
• Libra Token Creators Face Lawsuit Over Alleged $100 Million Investor Losses
• Canary Capital Files for SUI ETF

Robinhood Enters Prediction Market Space

Robinhood (HOOD) is expanding its offerings with the launch of a prediction market on its platform, available through CFTC-regulated exchange Kalshi. The prediction market will allow users to bet on the outcomes of various events.

The move positions Robinhood in direct competition with the crypto-based platform Polymarket, the current leader in the prediction market space. Polymarket saw its popularity surge last year over predictions being made around the U.S. presidential elections.

Polymarket’s popularity drew regulatory scrutiny, including a raid from the Federal Bureau of Intelligence (FBI), who seized the phone and other electronic devices of its CEO Shayne Coplan.

Robinhood’s initial offerings include contracts on the potential upper bound of the target fed funds rate in May, as well as the upcoming men’s and women’s College Basketball Tournaments.

Libra Token Creators Face Lawsuit Over Alleged $100 Million Investor Losses

The Libra token scandal is now subject to scrutiny from the Supreme Court of New York after a class action lawsuit accusing the token’s creators of misleading investors and misappropriating over $100 million through one-sided liquidity pools was filed.

Burwick Law filed the lawsuit on March 17 on behalf of clients against Kelsier Ventures, KIP Protocol, and Meteora, alleging the LIBRA token was launched in a “deceptive, manipulative and fundamentally unfair” manner.

The token garnered attention after being promoted on social media by Argentine President Javier Milei as a way to stimulate private-sector funding in the country. 

The lawsuit targets crypto infrastructure and launchpad firms KIP and Meteor, claiming they employed a “predatory” one-sided liquidity pool to artificially inflate the memecoin’s price. This allegedly allowed insiders to profit at the expense of retail investors.

The lawsuit further claims that approximately 85% of LIBRA’s tokens were withheld at launch, and that the “predatory infrastructure techniques” they allegedly used were not disclosed to investors.

Burwick Law is seeking compensatory and punitive damages, along with the disgorgement of “unjustly obtained profits” and an injunctive relief.

Canary Capital Files for SUI ETF

Hedge fund manager Canary Capital has filed with the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) tracking the price of the native token of the popular layer-1 blockchain Sui.

Before the fling, Canary registered a trust entity in the state of Delaware on March 7, according to records from the state’s Division of Corporations. The firm has also been seeking SEC approval for other ETFs, including ones offering exposure to DOGE, SOL, and XRP.

The filing comes 10 days after World Liberty Financial (WLFI), a decentralized finance platform affiliated with former U.S. President Donald Trump, announced plans to add Sui to its token reserves.

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