Polymarket confirms corporate restructuring and layoffs

A major Canadian pension fund has made its first purchase of Bitcoin worth $154 million through MicroStrategy (MSTR). (The Bitcoin Historian)

Prediction market platform Polymarket has confirmed it is undergoing a restructuring, including layoffs and the termination of partnerships with several contractors. The company stated that the restructuring is driven by company growth and the addition of new leadership, involving new hiring, personnel adjustments, and some employee departures, but declined to disclose specific numbers. Polymarket, once the largest prediction market exchange, was surpassed by Kalshi. In September, the company hired a former Amazon finance executive as its first CFO, and recently brought in executives from Goldman Sachs, DoorDash, and Robinhood. (Source: Bloomberg)

Bitwise CIO Matt Hougan anticipates market volatility following a Democratic victory and views potential pullbacks as buying opportunities.

There are large clusters of long liquidations around $60,000 for Bitcoin. These long positions were established near the price bottom, and the market has not yet retraced to test these entry points since the price rally began in August. A forced sell-off would occur if the price retraces to the $60,000 level. (glassnode)

Nomura Holdings is considering selling its crypto subsidiary, Laser Digital Holdings AG, and is currently in preliminary talks with potential buyers, including Marex Group, which is evaluating the deal. Nomura has not made a final decision, and the deal may ultimately be sold to another party or Nomura may continue to hold the stake. Spokespeople for Nomura and Marex declined to comment. (Source: Bloomberg) Zurich-based Laser Digital suffered losses last year due to volatility in the crypto market, dragging down Nomura's European operations.