In brief
- DraftKings acquired prediction market platform Railbird but will focus on states without legal sports betting to avoid jeopardizing its existing gambling licenses.
- Bitcoin mining rig maker Canaan received a $4 price target from Benchmark analysts after a dramatic turnaround from near-delisting at $1, with shares up 18% for the week.
- Payments processor Zelle will begin using stablecoins for cross-border transactions, marking a significant adoption move by a platform owned by seven major U.S. banks.
Public keys is a weekly roundup from Decrypt that tracks the key publicly traded crypto companies. This week: DraftKings officially enters the prediction market race, a Bitcoin miner makes a comeback, and payments giant Zelle gets into the stablecoin arena.
Predictable for DraftKings
It wasn’t exactly a surprise when DraftKings announced that it had acquired prediction market exchange Railbird. The rumor was first reported by Front Office Sports in July.
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Author: Stacy Elliott
