Markets Desk, here's what's moving. A warning worth your attention in crypto: Keeper wallets are quoting dollar balances for fake USDT across thirty-two identified tokens, but Forta's simulated outside sales failed on every one, meaning those numbers on your screen may be unsellable. If a stablecoin balance looks too good to move, it probably is.
Turning to policy, Louisiana's attorney general is calling the CFTC chair an obsequious standard bearer for prediction markets after the agency sued the state Friday to block a judge's order banning thirty-one markets, including Kalshi and Polymarket. A federal-state turf war now sits squarely over event contracts.
And in equities, Bill Ackman says freeing Fannie Mae and Freddie Mac from government control could unlock five hundred billion dollars in value, arguing executive orders could end conservatorship and relist the shares, both up more than twenty-three percent in the past month. That's the tape. Markets Desk, signing off the floor.
