Today, on the final day of the 2024 United States presidential election, several prediction markets look to be favoring Donald Trump in the race for the White House.

On Polymarket, a popular crypto-based prediction platform, you can purchase a position in Trump winning for 61 cents. This position will resolve to $1 if he wins.

Kamala Harris’ position, meanwhile, is valued at approximately 38 cents.

Kalshi, another crypto-based market, has been engaged in a dispute with the Commodity Futures Trading Commission and currently allows you to purchase Trump positions for approximately 59 cents and Harris positions for approximately 42 cents.

Read more: Court rules prediction market Kalshi’s US election bets are legal

PredictIt, a more traditional prediction market that doesn’t rely on cryptocurrency, is much closer and allows you to purchase positions in Trump and Harris for 55 cents and 52 cents respectively.

Elsewhere, Bovada, an online casino, currently has Trump at -165 odds and Harris at +145 odds. 

This comes as crypto has emerged as an important election issue, with various industry-affiliated firms and individuals donating massively in this race.

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Last week Montenegro’s Minister of Justice said he had decided where Do Kwon would be extradited for his role in the Terra/Luna collapse. However, before his verdict was revealed, a surprise appeal from Kwon threw yet another spanner in the works. 

Kwon filed the appeal on September 25 against a Supreme Court ruling that took place six days earlier and ruled that the Minister of Justice, Bojan Božović, would decide where to extradite Kwon. 

His appeal requested the suspension of his extradition proceedings, the Supreme Court’s verdict, and the decision-making of Božović. On October 18, in response to the request, Kwon’s extradition was paused by the Constitutional Court “until a final decision is made.”

Protos has updated the Do Kwon extradition timeline to reflect these developments which can be viewed here.

Read more: Do Kwon transferred crypto from prison after police failed to seize keys, report

Božović was apparently not made aware of Kwon’s appeal until October 18, 23 days after it was submitted.

In response to the Consitituital Court’s decision, the Ministry of Justice said, “We ask that the Constitutional Court act in this case as soon as possible and that in the future it informs us about it without delay, so that we can continue the activities started in the specific case.”

It said that because of the complexity and public interest in this case, “we believe that good and timely communication between branches of government and institutions is of key importance for making valid decisions based on the Constitution and the law.”

That same announcement claimed a written copy of the Constitutional Court’s decision had not been provided to the Ministry of Justice at the time.

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The revamped UEFA Champions League kicked off this week and it’s already the most crypto-friendly iteration in the competition’s history.

Not only was Crypto.com recently announced as the tournament’s first-ever official crypto partner, 23 of the 36 participating teams have some kind of crypto sponsorship.

These deals include trading websites, crypto exchanges, and fan token platforms. Some of these deals can reach mind-boggling prices as Crypto.com’s scrapped 2022 $495 million sponsorship deal with UEFA proves. The details of this year’s partnership remain undisclosed.

Here’s a chart of all the teams and crypto sponsors you can see in this year’s Champions League. 

Another crypto sponsorship was inked this week between crypto exchange Bitget and the Spain’s La Liga. The deal was reportedly worth millions.

Previous Protos research revealed that football is one of the most popular sports for crypto firms to sponsor, along with motorsports and eSports.

Read more: CHART: Listing every crypto sponsor for the 2024/25 Premier League

The 2024/25 Premier League was also popular for crypto sponsorships, with 70% of teams having one. In the case of the Champions League, almost 64% of participating teams have a crypto sponsorship.  

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This summer, crypto restaking protocols were rallying to new heights. Almost without exception, these leveraged plays on the native yield of proof-of-stake blockchains like Ethereum and Solana were attracting all-time high capital inflows.

As of June 5, their total value locked (TVL) — a convenient albeit incomplete metric for judging the size of crypto protocols — had crested $21 billion.

Protos has created a chart illustrating the breakdown of this TVL — click here to view.

However, as of publication time, the assets in those protocols had declined by one-third to $14 billion.

As investors return from summer vacation, university classes restart, and capital allocators reassess their portfolios with sober professionalism, the world has decided to take some risk off the table at the start of the third quarter.

Declines in these USD values are influenced by general declines in ETH, SOL, and other restaking assets. Since June 5, the crypto market has shed 26% of its total market capitalization.

Read more: Ethereum Foundation blasted for EigenLayer conflicts of interest

Restaking: More leverage, liquidation, complexity, and risk

Restaking protocols enable crypto asset holders to leverage staked assets like ETH or SOL to generate additional yield. Anil Lulla of Delphi called it “the rehypothecation of ETH to riskier networks,” and it certainly has both of those qualities.

Restaking rehypothecates, or ‘double-allocates,’ an asset across two or more protocols. A common restaking strategy involves Ethereum + Lido + EigenLayer, among many other examples. The introduction of these additional protocols beyond the base layer — in this case, Lido and EigenLayer — introduces the additional risk of two networks into one’s investment.

As compensation for these additional risks, restaking schemes advertise yields with annualized percentages in the double and even triple digits.

“Looping,” or taking out additional loans after restaking in order to restake yet again can transform these numbers into quadruple digits and beyond.

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In 2024, Bitcoin has continued to demonstrate characteristic volatility. On 13 separate days during the calendar year, it has opened above and then dipped below the psychologically important $60,000 level.

Although it’s rallied an impressive 53% year-to-date, the last few months have been marked by thrashing price movements, reflecting a vicious battle between bulls and bears. Bitcoin’s 30-day volatility index has peaked this month at 3.1% — its high of the last 12 months.

Protos has created a chart detailing every one of bitcoin’s trips below $60,000 this year — click here to view.

Bitcoin began 2024 with a strong upward trajectory and enjoyed net inflows after the SEC approval of bitcoin spot ETFs in early January. This development opened up flows from retirement funds and other managers limited by fiduciary or prospectus mandates.

On February 26, the currency surged past $50,000, reaching an all-time high above $75,000 on some exchanges on March 14.

Read more: Bitcoin price surge triggers one big ‘I told you so’ from fans

2024 bitcoin derivative liquidations reach high in August

Despite the spot ETF approval initially fueling optimism, profit-taking and derivative liquidations have led to periodic declines. Indeed, data from Glassnode indicates a 2024 high of liquidations of bitcoin long (bull) derivatives on August 4 worth $245 million.

Bitcoin’s price movements have been influenced by traders attending to technical indicators as well as broader economic factors like general asset prices, interest rate changes, economic data releases, and news about mining or fiat on/off ramps.

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When FTX supremo Sam Bankman-Fried was sentenced to 25 years behind bars back in March, he joined a long list of crypto figureheads who have been handed stiff punishments for being caught with either their fingers in the cash register or using blockchain technology to facilitate equally unscrupulous deeds.

Also on the list, there are dark web administrators (Silk Road mastermind Ross Ulbricht and Dream Market’s Gal Vallerius), price manipulators (Mango Markets’ Avraham Eisenberg), and insider traders (NFT swindler Nathaniel Chastain).

And, as you’d expect from some of the most powerful players in a fledgling industry that’s been referred to as both ‘the future of finance’ and the ‘Wild West,’ the amounts they’ve been convicted of stealing, misappropriating, or earning are far from insignificant. In some cases, we’re talking tens of billions.

As such, regulators, governments, and law enforcement — particularly those in the US — have to be seen to be doing something. And, if you can’t stop these crimes from happening, the next best thing is to hand out suitable punishments.

Read more: Fallout from Do Kwon arrest continues in Montenegro

Indeed, sentences dished out so far range from a few months to full-life terms. But who’ll be free by the end of the year and who’s going to be enjoying prison food for the next quarter of a century?

Click here for a chart comparing the sentences given in the US to some of the most high-profile crypto criminals over the past decade.

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Over the past several years, crypto marketing teams have been vying for the eyes of millions of sports fans through sponsorship deals with some of the world’s most popular clubs, teams, and franchises.

These firms have paid millions to rename arenas, display their branding front and center during tournaments, and take up valuable real estate on shirts, jerseys, and merchandise.

And, needless to say, they’ve launched way too many tokens.

The burgeoning relationship between crypto and sport shouldn’t come as a surprise. After all, top-level sport gives sponsors access to a global audience of literally billions of people who they know will be watching week in, week out.

On the other side, many of these partnerships give this audience the opportunity to engage with their club, team, or favorite players. It appears to be a match made in heaven.

Of course, things don’t always work out — see the collapse of FTX after inking numerous sponsorship deals, or the Washington Nationals’ partnership with the Terra DAO — but the potential exposure is just too big an opportunity to pass up.

Protos decided to take a deeper look at where these eyeball-hungry crypto firms have spent their sponsorship funds and we’ve also put together an at-a-glance chart.

Binance

Binance is the highest-volume crypto exchange in the world, despite its recent legal issues. 

Most of the exchange’s sponsorship efforts have involved football. It has inked deals with the Argentinian National Team, FC Porto in Portugal, the Compeonato Brasileiro de Futbol Feminino, and the Campeonato Paulista in Brazil, as well as the CAF Africa Cup of Nations. 

Additionally, it partnered with S.S. Lazio of Italy and promoted its fan token on Binance’s launchpad. It has also supported the Santos FC fan tokens on Binance and Binance US. 

Outside football, Binance has also sponsored motorsports, linking up with Alpine’s Formula 1 (F1) team.

Coinmerce, a Binance broker, also sponsored Team Jumbo-Visma, a Dutch cycling team.

Read more: Binance directs Dutch users to Coinmerce — a Binance broker

ByBit

ByBit has also sponsored the Argentinian National Football Team as well as German top-flight outfit Borussia Dortmund and Avispa Fukuoka in Japan. 

Like Binance, it has also branched out into motorsports, sponsoring Red Bull Racing’s F1 team.

ByBit has also focused heavily on eSports, sponsoring Astralis and Natus Vincere, and has partnered with eSports team MIBR to list its fan token.

Crypto.com

Crypto.com has been one of the most active sponsors among crypto firms, entering into partnerships with football, basketball, Australian rules football, eSports, hockey, and motorsports teams, UFC, and even named a whole arena.

The arena in question — previously the Staples Center — is now the Crypto.com Arena. 

It was also one of the sponsors for the FIFA World Cup in Qatar, as well as the UEFA European Championship, the CENMEMBOL Copa Libertadores Cup, and the Lega Serie A. 

As you might expect, it has also sponsored football teams, including Paris Saint-Germain FC and Angel City FC. 

Not wanting to eschew the more violent end of the football spectrum, it also sponsored the Australian Football League as well as the Adelaide Crows, the Fremante Dockers FC, the Gold Coast SUNS, the Greater Western Sydney GIANTS FC, and the Richmond Tigers. 

And speaking of violent sports, it also partnered with the Ice Hockey World Championship and the Montreal Canadiens. 

Elsewhere, it signed deals with the NBA’s Philadelphia 76ers and the Miami Grand Prix and helped Aston Martin’s F1 team to launch an NFT project.

Finally, its eSports sponsorships include Fnatic.

Read more: CHART: Listing every crypto sponsor for the 2024/25 Premier League

Coinbase

Coinbase, one of the most important US-domiciled crypto exchanges, has focused on sponsorships in basketball. However, like ByBit, it has also sponsored German football club Borussia Dortmund. 

The firm was also a major partner for the NBA and WNBA, becoming the exclusive crypto platform. It has additionally partnered with the New York Knicks, Chicago Bulls, and the Dallas Mavericks for NFT collections and has also partnered with the New York Liberty 

In terms of eSports, it has partnered with Berlin International Gaming and Team Liquid.

FTX

FTX is no longer sponsoring anyone due to the criminal behavior that led to its spectacular collapse. However, before its collapse, it purchased naming rights to what is now the Kaseya Center, naming rights to the field at California State University, was the official partner of Major League Baseball, as well as multiple basketball teams, a motorsports team, and Riot Games. 

Besides purchasing the naming rights to the Miami Heat Arena, FTX also sponsored the Golden State Warriors, the Wizards, the Capitals, and the Mystics. 

Additionally, it signed deals with the Mercedes F1 team. 

FTX even took an interest in cricket, partnering with the International Cricket Council. 

Kraken

Kraken’s sponsorship and partnership efforts have been slightly less extravagant than those of its rivals, with the exchange content to dip its toes into just motorsports and football. 

Kraken is a sponsor of the Williams F1 Racing team and sponsors football clubs Atlético de Madrid and Tottenham Hotspur.

Read more: Has the naming rights curse finally hit crypto?

OKX 

OKX has chosen to sponsor a motorsports team, a football club, a golf club, and an eSports team.

In F1, it was a sponsor for McLaren and it also sponsored its Shadow eSports team, which races in F1 Sim Racing. 

Meanwhile, it also inked a $70 million three-year deal with Premier League champions Manchester City and it also sponsored the Majestics GC LIV Golf team.

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The 2024 Premier League kicks off tonight with new teams, new players, and in many cases, new crypto sponsors.

Crypto and blockchain-related sponsorship has become increasingly popular in the world’s most-watched football league. Indeed, during the 2023/24 season, eight separate teams boasted an official crypto trading partner, including Manchester City’s $70m sleeve deal with OKX, and BingX’s $10 million partnership with Chelsea.

Trading platform eToro was also a name that was difficult to avoid as it entered into partnerships with four separate clubs, namely Arsenal, West Ham, Crystal Palace, and Everton.

Read more: New Chelsea FC sponsor BingX accused of holding 215K USDT ‘hostage’

This season, however, that already impressive number has nearly doubled, with 14 of the Premier League’s 20 clubs now inking partnerships or sponsorship deals with a total of 15 different crypto companies.

These include the recently-announced agreement between cryptocurrency Floki and newly-promoted Nottingham Forest, and Tottenham Hotspur’s decision to change its sleeve sponsor for the first time in three seasons from online car retailer Cinch to crypto exchange Kraken.

Here’s an at-a-glance chart to keep you up to date with which crypto companies are going to be on show during the 2024/25 Premier League season.

The only teams in the league that won’t be sponsored by or partnering with a crypto-related firm are Brighton & Hove Albion, Brentford, Fulham, Ipswich, Liverpool, and AFC Bournemouth.

However, despite no crypto involvement for these clubs for the upcoming season, they’re seemingly not opposed to it. Brentford has previously partnered with crypto exchange Coinjar, Liverpool was in talks with various crypto firms for a main shirt sponsor, and Fulham previously signed on with World Mobile.

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And just as we thought it was over, Montenegro pulls us back in. Do Kwon’s extradition has been delayed yet again by the country’s Supreme Court, local news outlet Vijesti reports.

The court announced yesterday that it had postponed his planned extradition to South Korea and will determine if previous High Court and Appellate Court rulings were legal, as per a request “for the protection of the legality” from the Supreme State Prosecutor’s Office.

Counting the various reversals, delays, appeals, filings, and approvals that have littered Do Kwon’s extradition journey, there have now been at least 20 back-and-forths since November last year.

Over this period the High Court and Appellate Court combined have approved Kwon’s extradition to the US twice, and South Korea four times. The verdicts have been reversed five times, and Kwon has submitted five appeals. Of these five appeals, he’s only ever lost one.

Protos has put together a chart detailing the many twists and turns.

Read more: Montenegro PM Milojko Spajić may have met with Do Kwon, report

Do Kwon lawyer says it’s a ‘judicial disgrace’

Kwon’s lawyer, Goran Radićhas, claims minister of justice, Andrej Milović, made an ‘illegal private promise’ to extradite Kwon to the US instead of South Korea. He also called the extradition process a ‘judicial disgrace.’

In February, the High Court ruled that the US submitted its extradition request first but the Appellate court ruled against this on March 5, arguing it didn’t consider two emails submitted earlier by South Korea.

In the most recent developments, the High Court ruled in June that Kwon could be extradited to South Korea. Kwon didn’t appeal this decision and on August 1, it was approved by the Appellate Court.

Read more: Do Kwon appeal claims lawyers had 20 mins to review docs before hearing

The Supreme Court may send the ruling back to the High Court for retrial as it did on April 5. Until then, Montenegrin police and the Ministry of Justice will refrain from extraditing Kwon. 

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