NBA enters prediction markets as NFL pushes back

Ripple lands a federal banking license and the NBA dives into prediction markets as the NFL fights back. This is CoinDesk Daily. Ripple National Trust Bank, pulling one of crypto's biggest players deeper into the regulated financial system. The bank will manage the reserves backing Ripple's RLUSD stablecoin and offer regulated custody for institutions. RLUSD launched last December and has grown to a market value around $2.5 billion. Hardware wallet maker Keystone says it will destroy 18,835 unsold devices and suspend shipments after a website breach. The attack exposed nearly 26,000 buyer records through a flaw in a third-party monitoring tool. Keystone says recovery phrases and private keys were not exposed and devices delivered before October 20th are safe if they pass authentication. And the NBA is officially entering prediction markets. The league signed a data sharing agreement with the CFTC and named Kalshi and Polymarket as its preferred exchanges. The deal comes with guardrails including a ban on league and team personnel trading NBA event contracts. The move splits sharply from the NFL, which is back to states trying to pull prediction markets under their gambling laws. Get more updates on CoinDesk.com. Want trusted crypto research? Check out The Stack, Grayscale's blog. Visit grayscale.com slash the stack. Unlock deeper insight into digital asset vault risk. The new vault risk assessment from S&P Global Ratings helps bring institutional-grade transparency to on-chain investing. Visit spglobal.com slash ratings.