XRP ETF Inflows Stall at $1.71 Billion, $290 Million Short of $2 Billion

Binance Wallet and PancakeSwap have introduced Pre-Access campaigns that sell tokenized exposure to private companies before they list publicly, with the first project still unnamed. Allocations depend on three inputs: higher Alpha Points and a higher bStocks on-chain tier both increase allocation size, while Trencher Badge holders receive an extra allocation, and PancakeSwap sets the final rules according to Binance's disclosure. The launch extends a year of exchange expansion into traditional assets, following Binance's May listing of perpetual futures tied to private companies ahead of their IPOs, starting with SPCXUSDT linked to SpaceX, which has since completed its Nasdaq listing, as well as US equities trading on June 1 and bStocks on June 12. Binance Wallet framed the launch around access, saying everyday people have never had access to this kind of early-stage exposure, but holders receive no voting rights, dividends, or shareholder rights, and Binance warns the tokens carry a high degree of risk and may not suit all users, with private company valuations uncertain and returns, liquidity, and settlement not guaranteed. The first campaign will be revealed soon, and that company's identity will show whether Pre-Access draws as much demand as the perpetuals did.

Polymarket is pursuing a new funding round at a valuation of about $21 billion even as the prediction-market operator faces questions about fraud prevention, regulatory compliance and the reliability of its U.S. platform. The company's problems intensified in February when criminals used stolen debit cards to attempt at least $10 million in transactions, and at one point its payment processor rejected more than 80% of deposits as potentially fraudulent, compared with an industry norm of roughly 1%, according to The Wall Street Journal. Chief Executive Shayne Coplan allegedly urged employees to prioritize growth despite internal warnings about the attack, and the Commodity Futures Trading Commission is investigating Polymarket while New York City officials examine advertising by the company and its competitors, with nearly two dozen traders accusing it of deceptive practices in lawsuits. Polymarket entered the regulated U.S. market after acquiring a licensed exchange for $112 million, and its American platform attracted more than $500 million in deposits after opening to early users in December, but a second attack in July affected nearly 500 customers. The company is seeking another $1 billion from investors, with Donald Trump Jr.'s 1789 Capital reportedly planning to contribute about $300 million after previously investing roughly $200 million, and the controversies also present risks for Intercontinental Exchange, which reported owning 22% of Polymarket.