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Polymarket targets $1B funding at $21B valuation; Cronos reverses blockchain after $75M hack; Bitcoin ETFs see $731M inflow.

Market News
05 Sep 2026
Crypto news
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Neutral
Polymarket targets $1B funding at $21B valuation; Cronos reverses blockchain after $75M hack; Bitcoin ETFs see $731M inflow.

Polymarket plans a $1 billion funding round valuing the prediction market platform at $21 billion, led by Donald Trump Jr.'s 1789 Capital. Cronos reversed its blockchain after a $75 million exploit in the Tectonic lending protocol, restoring the network but raising concerns about transaction finality. U.S. spot Bitcoin ETFs recorded $730.8 million in inflows, their strongest since January, amid Bitcoin briefly surpassing $82,000. Other notable events include FinCEN linking $12.7 billion to crypto scams, the National Sheriffs’ Association withdrawing opposition to the CLARITY Act, and major banks committing to a stablecoin company launching in 2027.

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