ADI PredictStreet removes statement on USD1 usage; on-chain analysis says platform actually uses USDC
BIBIBI
AT A GLANCE
PANews, citing Bloomberg, reports that ADI PredictStreet removed website statements about using USD1, and commissioned on-chain analysis shows it actually uses USDC.
PANews, November 12 — According to Bloomberg, ADI PredictStreet, the official prediction market partner of the World Cup, removed from its official website statements that it operates using USD1, the stablecoin of the Trump family crypto project World Liberty Financial (WLFI), after multiple inquiries from Bloomberg, replacing them with USDC and stating that the original information was outdated. On-chain analysis commissioned by Bloomberg from TickerTracker found no evidence that the platform uses USD1 for transactions; it actually uses USDC issued by Circle. The operator of PredictStreet was once listed as a subsidiary of International Holding Company (IHC), owned by UAE National Security Adviser Tahnoon. An IHC spokesperson said it currently...
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🔗 https://www.panewslab.com/zh/articles/01a1cbbd-e46a-707f-8e43-fc0172431051
Key points
01
PANews, citing Bloomberg, reports that ADI PredictStreet is the official prediction market partner of the World Cup.
02
The report states that after multiple inquiries from Bloomberg, the platform removed website statements about operating with USD1, replaced them with USDC, and said the original information was outdated.
03
On-chain analysis commissioned by Bloomberg from TickerTracker found no evidence that the platform uses USD1 for transactions; it actually uses USDC issued by Circle.
04
The original text describes USD1 as a stablecoin under the Trump family crypto project World Liberty Financial (WLFI).
05
The report states that the operator of PredictStreet was once listed as a subsidiary of International Holding Company (IHC), owned by Tahnoon, but the body text regarding the IHC spokesperson's response was truncated.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
The focus of this news is that the stablecoin the platform's official website once claimed to use differs from the actual usage found in the cited on-chain analysis. The platform says the original information was outdated; the analysis finding no evidence of USD1 transactions does not equate to proving the platform never used USD1.
Why it matters to readers
It involves the actual adoption of USD1 versus USDC on the platform, and also indicates that website statements and on-chain analysis conclusions need to be distinguished. The existing excerpt is insufficient to judge the scale of usage or market impact.
Do not directly interpret the website having stated support for a certain stablecoin as meaning actual transactions have occurred; nor should "no evidence found" be understood as "certainly never happened."
Risks and unknowns
The body text was truncated, making it impossible to confirm the IHC spokesperson's complete response and the operator's current affiliation.
The provided material does not include TickerTracker's analysis methodology, coverage period, addresses, or transaction details, making it impossible to independently verify the conclusions.
The transaction scale of USDC was not disclosed, nor was it stated whether the platform used USD1 during other periods.
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Related concepts
Prediction Markets
An application scenario involving trading or betting on the outcomes of future events, whose settlement rules may serve as an exploitation point for a design flaw attack.
