P2P.me was established to push boundaries with stablecoins, but the startup has determined that wagering on itself via Polymarket may have been a bridge too far.

On Saturday, the firm backed by Coinbase Ventures and Multicoin Capital apologized for speculating on its latest fundraising round using the prediction market, describing the move in a post on X as an inappropriate attempt at conveying conviction to the public.

In total, the company that bills itself as a non-custodial service for converting between stablecoins and cash signaled that it notched less than $15,000 in profits on the prediction market move. Still, it recognized how a small payday could carry outsized consequences.

“It created confusion and hurt…