Blockchains are a technical marvel, but in this vastly competitive landscape, I’ve come to see the social consensus and ecosystem around blockchains as by far their most important strategic asset. The social layer matters, but for different reasons depending on the chain. Specifically, I have the hypothesis that the “Layer 0” for any blockchain ecosystem … Read more
XRP futures started trading on the Chicago Mercantile Exchange’s (CME) derivatives platform on Monday, becoming the first regulated futures tracking the price of XRP in the U.S. Traders can trade two contract sizes: 2,500 XRP and 50,000 XRP, which will both be cash-settled and based on the SME CF XRP-Dollar Reference Rate, which tracks the … Read more
Dogecoin’s recent price movement shows a classic battle between bears and bulls, with the meme cryptocurrency finding stability after a significant downtrend. The coin experienced a 9.7% drop from $0.237 to $0.214 before buyers stepped in at key support levels. This buying pressure has created what analysts describe as a “panic zone retest” around the … Read more
Vladimir Smerkis, Binance’s former Russia division head, was arrested in Russia for being connected to a large-scale criminal fraud case, local media outlet TASS reported on Sunday. Zamoskvoretsky District Court, which resides in Moscow, granted an investigator’s request to detain Smerkis, an unnamed law enforcement agency source told TASS. The report did not share specific … Read more
Global economic tensions and shifting trade policies continue to create volatility across cryptocurrency markets, with TON experiencing significant downward pressure. The token’s recent price action has formed a descending channel with consecutive lower highs and lows, breaking below key support levels on high trading volume. Meanwhile, competing blockchain projects are gaining attention as investors seek … Read more
Roman Storm’s defense team wants to know if the U.S. Department of Justice is withholding any information that may help the Tornado Cash developer’s case. In a letter filed late Friday, defense attorneys said recent disclosures in another, somewhat similar, case raised concerns that prosecutors either misled the judge overseeing the case or otherwise was … Read more
The Bitcoin network hashrate rose 2% in the first two weeks of May to an average of 885 exahashes per second (EH/s), Wall Street bank JPMorgan (JPM) said in a research report Friday. The hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work blockchain, and is a … Read more
CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index. The CoinDesk 20 is currently trading at 3068.55, down 4.7% (-151.33) since 4 p.m. ET on Friday. None of the twenty assets are trading higher. Leaders: BTC (-1.2%) and XRP (-4.5%) Laggards: AVAX (-8.6%) and UNI … Read more
BounceBit, a crypto infrastructure provider using features from both centralized (CeFi) and decentralized finance (DeFi), has executed a bitcoin (BTC) derivatives trading strategy using BlackRock’s yield-generating tokenized money market fund, BUIDL, to enhance returns. The strategy, to be rolled out to institutions and retail users, consisted of two main components: a bitcoin basis trade, involving … Read more
Crypto investment products brought in $785 million in inflows last week, pushing year-to-date totals to $7.5 billion and marking a full recovery from the nearly $7 billion withdrawn during February and March’s market correction. The rebound was led by U.S.-based investors, who contributed $681 million, followed by $86.3 million from Germany and $24.2 million from … Read more
Ethereum co-founder Vitalik Buterin has proposed a new design to reduce the hardware burden for running a network node, framing it as a step toward a fully decentralized network that doesn’t require sophisticated infrastructure to help maintain. In a blog post published on Sunday, Buterin introduced the concept of “partially stateless nodes,” allowing users to … Read more
Disclaimer: The analyst who wrote this piece owns shares of Strategy (MSTR) Strategy (MSTR) has purchased 7,390 BTC for approximately $764.9 million at an average price of $103,498 per bitcoin, according to a filing on Monday. This latest acquisition increases the company’s total bitcoin holdings to 576,230 BTC, now valued at roughly $59 billion based … Read more
Bitcoin (BTC) enjoyed its weekly dose of volatility late Sunday, rising to around $107,000, before decisively plunging back to $102,000. The crypto market typically experiences a bump in volatility at this time on Sunday as it coincides with the opening of the CME futures market, which takes a few moments to recalibrate to the lower … Read more
By James Van Straten (All times ET unless indicated otherwise) Bitcoin BTC started the week on a positive note, rising above $107,000 — the highest since Jan. 24, according to CoinDesk data —before pulling back to $102,000 during the Asian morning. Despite the retracement, the largest cryptocurrency continues to trend upward, forming higher highs and … Read more
Dubai’s crypto regulator Virtual Asset Regulatory Authority (VARA) has updated its rulebook for digital asset trading. The emirati regulator has introduced greater leverage controls and collateralization requirements through provisions in its Broker-Deal and Exchange Rulebooks. This will help VARA’s rules to align with global risk standards, the regulator said in an emailed announcement on Monday. … Read more
Over $600 million in crypto derivatives positions have been liquidated since late Sunday as bitcoin (BTC) staged a sharp rally past $106,000 in the wee hours, only to reverse course and dump back to near $103,000, catching both bulls and bears off guard. The move began around 21:00 UTC on Sunday, when bitcoin spiked more … Read more
The yield on the U.S. 30-year treasury bills crossed the 5% threshold for the first time since April, reaching an intraday high of 5.011%. This move comes in the wake of Moody’s downgrading U.S. credit, stripping the country of Aaa rating due to mounting deficits and escalating interest expenses. The last time the long end … Read more
Ripple said it signed on two new UAE-based customers, Zand Bank and Mamo, as it expands Ripple Payments, the firm’s blockchain-based cross-border payments platform, in the region. The agreements follow Ripple securing a license from the Dubai Financial Services Authority (DFSA) in March, allowing it to manage global payments end-to-end for banks, fintechs and crypto … Read more
Tokyo-listed investment firm Metaplanet has purchased another 1,004 bitcoin (BTC) for approximately $104.3 million, bringing its total holdings to 7,800 BTC. The average purchase price for this latest tranche was $103,873 per bitcoin, according to a Monday disclosure. The company’s total bitcoin position, acquired at an average price of $91,300 per BTC, is now valued … Read more
When Galaxy Digital (GLXY) CEO Mike Novogratz bought Argos’ Helios data center in late 2022, at the depths of the post-FTX crypto winter, the company thought they were bailing out a desperate bitcoin (BTC) miner on the brink of bankruptcy. This, however, was before ChatGPT had become mainstream. Novogratz and co. had no idea that … Read more
Binance and Kraken, two of the world’s largest cryptocurrency exchanges, were recently targeted in a wave of social engineering attacks similar to the one that led to a major data breach at Coinbase. Hackers approached customer support agents with bribery offers and detailed instructions for contacting attackers through Telegram, Bloomberg reports citing people familiar with … Read more
Bitcoin’s BTC price chart is echoing a bullish pattern that foreshadowed the late 2024 price surge from $70,000 to $100,000 amid mounting concerns over the sustainability of the U.S. debt. The leading cryptocurrency by market value appears on track to confirm a “golden cross” in the coming days, according to charting platform TradingView. The pattern … Read more
Global economic tensions and regulatory developments continue to influence XRP’s price action, with the digital asset showing remarkable resilience despite recent volatility. After experiencing a significant dip to $2.307 on high volume, XRP has established an upward trajectory with a series of higher lows, suggesting continued momentum as it approaches resistance levels. Technical indicators point … Read more
Global economic tensions and shifting trade policies continue to influence cryptocurrency markets, with SUI showing particular resilience. The asset established a trading range of 4.46% between $3.70 and $3.86, finding strong volume support at the $3.755 level. A notable bullish momentum emerged with price surging 1.9% on above-average volume, establishing resistance at $3.850. The formation … Read more
Geopolitical tensions and evolving trade policies continue to influence cryptocurrency markets, with Dogecoin showing resilience amid broader economic uncertainty. Despite macroeconomic headwinds, DOGE has maintained support above key moving averages while forming a potential bull flag pattern that could target $0.35 if validated by continued buying pressure. Technical Analysis Highlights DOGE experienced significant volatility with … Read more
The cryptocurrency market continues to navigate complex global economic conditions as BNB trades within a tight consolidation range between $636-$646. The token’s price action shows resilience amid international trade disputes, with higher lows forming since recent dips while resistance remains firm around the $643-$645 zone. Decreasing volume volatility suggests energy buildup for a potential breakout, … Read more
Billions of dollars have flowed into the U.S.-listed spot bitcoin BTC exchange-traded funds (ETFs) in recent weeks, as the cryptocurrency chalked out a sharp recovery rally from $75,000 to $100,000. Most of the investment is likely driven by bold, strategic bullish directional bets rather than market-neutral arbitrage plays, data analysis suggests. The 11 spot ETFs … Read more
A 26-year-old man from Alabama has been sentenced to more than a year in prison for his role in a social media hack that briefly sent the price of bitcoin BTC soaring. Eric Council Jr. of Huntsville pleaded guilty to charges tied to the January 2024 hack of the U.S. Securities and Exchange Commission’s X … Read more
CoinDesk hosted its annual Consensus conference in Toronto this week. It was busy, to put it mildly. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions. Read more The narrative It’s been a hectic week, watching the Senate’s ongoing negotiations … Read more
Two of the year’s most chaotic token blowups — Movement Labs’ MOVE scandal and the collapse of Mantra’s OM — are sending shockwaves through crypto’s market-making businesses. In both cases, rapid price crashes revealed hidden actors, questionable token unlocks, and alleged side agreements that blinded market participants, with OM falling more than 90% within hours … Read more