A futures contract with no expiry. Funding payments keep it near the spot index.

A market that trades event outcomes. Prices are read as implied probabilities.

How much a trade itself moves the mid price, separate from the standing spread.

A firm that packages custody, leverage, settlement, and OTC for funds so they do not juggle ten exchange logins.

Evidence about a custodian's reserve assets at a specified time and within a stated scope; it does not alone establish full solvency.

A coordinated hype cycle that lifts a thin token so insiders can sell into the rush.