Crypto Daily｜New York Sues Prediction Markets Coinbase And Gemini Titan; Bitmine Buys 101,627 Ethereum Worth Over $230M

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New York sues prediction markets Coinbase and Gemini Titan, calls their operations gambling

New York's attorney general sued Coinbase Financial Markets COIN.O and Gemini Titan GEMI.O on Tuesday, claiming their prediction markets violate state laws against illegal gambling.

In petitions filed in state court in Manhattan, Attorney General Letitia James said Coinbase and Gemini failed to obtain New York State Gaming Commission licenses to operate their markets, where people trade based on the predicted outcomes of events such as sports and elections.

Bitmine Buys 101,627 Ethereum Worth Over $230M in Its Biggest Weekly Accumulation of 2026

BitMine Immersion Technologies purchased 101,627 Ethereum last week for approximately $230 million, its largest single-week haul since December 15 and the biggest weekly accumulation of 2026.

The buy lifts total holdings to 4.97 million tokens, pushing the firm within striking distance of 5% of Ethereum’s circulating supply.

The real story is in the trajectory. BitMine has accelerated its acquisition pace for four consecutive weeks, scaling from a prior average of 45,000–50,000 ETH per week to more than double that rate. That is textbook accumulation behavior, not distribution.

Michael Saylor Hints at Bigger Bitcoin Buys After Floating Semi-Monthly Dividends

Michael Saylor signaled on social media that Strategy is on the verge of announcing another Bitcoin purchase, posting a chart of the company’s full BTC buying history with noticeably larger circles marking recent acquisitions.

The timing matters: Strategy already executed a record single-day buy exceeding $1 billion in BTC just before the tease, and with $2.25 billion in cash reserved, the scale of what comes next is the only open question.

Simultaneously, the company, formerly MicroStrategy and now the largest corporate Bitcoin holder on the planet, floated a proposal to convert its STRC preferred stock from monthly to semi-monthly dividend payments, a structural capital markets refinement that analysts say could significantly broaden institutional demand for the instrument.

Bitcoin Spot ETF Flow

The overall net outflow of the US Bitcoin spot ETF on Tuesday was $27.5 million. The total net asset value of Bitcoin spot ETFs is $99.73 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.55%. The Bitcoin spot ETF with the highest net inflow on April 21 was Grayscale Bitcoin Mini Trust , with a net inflow of $17.26 million, according to SoSoValue.