Bitcoin (BTC) hovered near $118,000 during the Asian trading hours on Wednesday, consolidating gains after June’s U.S. CPI data signaled further disinflation, pushing traders to reprice odds of a September Fed rate cut. Core CPI rose just 0.1% month-over-month for the fifth straight time, fanning bullish sentiment across crypto markets despite broader equity weakness. “The … Read more
A Florida Congresswoman’s post on X has moved the market for bettors looking to speculate on the firing of Federal Reserve chair Jerome Powell. Anna Paulina Luna (R- Florida) claimed on the social media site that Powell’s firing was ‘imminent’, but provided no further details, moving the ‘yes’ side of a related contract on Polymarket … Read more
The governor of the Bank of England, Andrew Bailey, wrote a letter to the G20 yesterday stating that the Financial Stability Board (FSB) — the forum’s financial overseer, which Bailey was appointed to head in April — is assessing the role of stablecoins in payments and settlements as a top priority. To the point: an … Read more
Good Morning, Asia. Here’s what’s making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas. As East Asia begins its business day, bitcoin is down 1.8%, … Read more
The Senate Agriculture Committee leapt into Congress’ negotiation over crypto’s market structure legislation with a hearing on Tuesday, and its ranking Democrat, Senator Amy Klobuchar, outlined the significant changes she’d like to see before she’d embrace the effort to set up digital assets regulations. As the House potentially nears passage of its own market structure … Read more
NEW YORK — There is at least one fact that both the defense and the prosecution agree in the ongoing criminal money laundering trial of software developer Roman Storm: the product he helped to create and run — a once-popular crypto privacy tool called Tornado Cash — was exploited by hackers and cyber criminals to launder their … Read more
Snail Games (SNAL), a publicly-traded video game studio, said on Tuesday that it is mulling the development of its own U.S. dollar stablecoin. The company is evaluating the technical, legal, and financial hurdles to issuing a proprietary stablecoin, according to a press release. To support the effort, Snail retained George Cao, founder of the crypto … Read more
Brandon Lutnick, chairman of Wall Street investment bank Cantor Fitzgerald, is in late-stage talks with early bitcoin proponent and Blockstream CEO Adam Back for a bitcoin treasury deal that could be worth over $3 billion, the Financial Times reported on Wednesday. According to the report, Lutnick’s blank cheque company Cantor Equity Partners 1 would acquire … Read more
As it sped into Crypto Week on Tuesday, the U.S. House’s process toward passing digital assets bills ground to a sudden halt over a procedural vote as members of the House Freedom Caucus objected to the way some of the legislation has developed under Senate dominance. The misfire on the procedural vote quickly slammed the … Read more
Jamie Dimon, CEO of global banking giant JPMorgan (JPM), said the bank plans to get more involved in stablecoins, even as he questioned their practical utility compared to traditional payments. “We’re going to be involved in both JPMorgan Depositcoin and stablecoins to understand it, to be good at it,” Dimon said during the bank’s Tuesday … Read more
On Tuesday, Citigroup (C) had its second quarter of 2025 earnings call. During the call, Ebrahim Poonawala, Head of North American Banks Research at BofA Securities, asked how Citi is using stablecoins internally for treasury and global liquidity management and whether their adoption could disrupt the bank’s service revenues. Citi CEO Jane Fraser said the … Read more
Crypto industry insiders so far expect the long-awaited House of Representatives bill to set up rules for U.S. crypto markets will garner at least 30 Democrat voters when it reaches time for a vote as soon as Wednesday afternoon, alongside the 220-member majority of Republicans in the chamber. Even as much of the sector prepares … Read more
For more than a decade, the crypto industry has championed decentralization, transparency, and self-sovereignty. These principles are noble—and in many ways, essential. But, if we’re honest, they haven’t yet translated into broad, mainstream adoption. The dream of billions of people using blockchain every day is still largely that—a dream. To make it reality, we need … Read more
NEW YORK — A 12-person jury has been seated for Tornado Cash developer Roman Storm’s criminal trial, and opening arguments are set to begin later this afternoon in the Thurgood Marshall courthouse in lower Manhattan. Seven women and five men with a diverse range of backgrounds and ages will decide whether the U.S. Department of … Read more
Congress may pass the most consequential crypto law of the decade this week while drawing a bright red line through one of DeFi’s murkiest gray areas: yield-bearing stablecoins. At first glance, the GENIUS Act appears to be a straightforward regulatory win. It will finally grant over $120 billion in fiat-backed stablecoins a legal runway, establishing … Read more
The U.K. government on Tuesday said it intends to enable the wholesale market to identify the best distributed ledger technology (DLT) use cases as well as roll out tokenization solutions. The country wants DLT – the blockchain technology that underpins crypto – to be utilized across different sectors in wholesale financial markets and create cross … Read more
Two new crypto exchange-traded funds (ETFs) targeting Solana (SOL) and XRP (XRP) are launching in the U.S. on Tuesday, marking another step in the expanding intersection of traditional finance and digital assets. ProShares, a major player in leveraged ETFs, rolled out the ProShares Ultra Solana ETF (SLON) and the ProShares Ultra XRP ETF (UXRP). Both … Read more
Prediction markets provider Polymarket is free of U.S. investigations after the Department of Justice and Commodity Futures Trading Commission told Polymarket they had wrapped up their inquiries. Both the DOJ and CFTC notified Polymarket recently, an individual familiar with the matter told CoinDesk. Bloomberg first reported the news earlier on Tuesday. The DOJ was investigating … Read more
Internet Computer (ICP) saw a volatile 24-hour stretch marked by early selling and a sharp rebound After falling to $5.27, the token recovered into the close to settle at $5.4324 – trimming losses after a 3.47% daily decline. The turnaround came amid renewed optimism driven by the official launch of Caffeine, a next-generation AI-powered Web3 … Read more
The stablecoin market could start reshaping traditional finance if it grows to about $750 billion, according to Geoff Kendrick, Standard Chartered’s head of digital assets research. Kendrick, writing in a note Tuesday after a week-long trip through Washington, New York and Boston, said there’s a growing consensus among crypto industry players, fund managers and policymakers … Read more
BNB fell nearly 2% over the past 24 hours as crypto traders rushed to lock in profits, with the token dropping to now trade around the $680 mark after briefly touching $700. The slide mirrors broader market jitters after bitcoin (BTC) surged to a record above $120,000, prompting a wave of profit-taking that brought the … Read more
On Sunday, Eric Jackson, the founder and president of Toronto-based hedge fund EMJ Capital posted a thread on X that explained his firm’s bullishness on ether (ETH). According to Jackson, the market has underestimated the impact of upcoming developments, particularly the anticipated approval of staking for ETH exchange-traded funds (ETFs) by October 2025. He argued … Read more
NEAR lost 3% of its value on Tuesday after demonstrating an impressive recovery at 13:00 UTC, rising from $2.54 to $2.56 in a move that nullified the previous drawdown. The AI token is currently trading at $2.52 as it continues to hold above the $2.50 level of support. A drop below $2.48 would pave the … Read more
Crypto asset manager Bitwise said it is improving transparency for its spot bitcoin (BTC) and ether (ETH) exchange-traded funds, rolling out third-party proof-of-reserves verifications through U.S. accounting company The Network Firm. The process, which is already live, replaces Bitwise’s prior practice of publicly listing nearly 90 wallet addresses on its websites. Instead, The Network Firm … Read more
SharpLink Gaming (SBET), the Nasdaq-listed firm with a crypto treasury strategy centered on ether ETH, on Tuesday said it has become the largest corporate holder of the asset with 280,706 ETH worth roughly $840 million at current prices. The firm raised $413 million via the issuance of over 24 million shares between July 7 and … Read more
BONK saw a 15% breakout, driven by a jump in trading activity and rising on-chain traction. With open interest increasing 9% and derivatives volume also higher, market participants are signaling increased conviction in the Solana-based meme token’s upside potential, according to CoinDesk Research’s technical analysis data model. Much of the excitement stems from BONK’s evolving … Read more
Well before the rest of the congressional election machinery has begun to move in earnest on 2026 contests, the crypto sector is again ready for outsized spending to get more friends in Congress, thanks in part to a new $25 million influx from Coinbase. The crypto sector demonstrated last year how potent a force it … Read more
Cosmos’ ATOM token fell victim to a market-wide sell-off on Tuesday, retreating from $4.65 to $4.56 amid a wave of volatility. While several key areas of support have been tested, the recent rebound from $4.52 to $4.58 at 13:00 UTC, accompanied by heightened volume metrics, signals potential stabilization above the $4.50 psychological support threshold. Technical … Read more
Crypto exchange Kraken on Tuesday debuted its U.S.-regulated crypto derivatives trading platform as it eyes expansion into a broader set of asset classes. Dubbed Kraken Derivatives US, the marketplace integrates futures trading with spot crypto markets, giving traders a single interface to manage margin and risk. The service allows for instant collateral transfer between spot … Read more
Bitcoin project Roxom is preparing to launch a bitcoin (BTC)-denominated stock exchange. Roxom will debut the new exchange in September with a waitlist now open for early access, according to an emailed announcement shared with CoinDesk on Tuesday. The San Francisco-based project said the exchange will “reflect the Bitcoin white paper’s original vision of a … Read more