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 3138.72, up 6.0% (+178.07) since 4 p.m. ET on Thursday. Nineteen of assets are trading higher. Leaders: UNI (+13.5%) and NEAR (+11.7%). Laggards: BCH (-0.6%) and POL (+1.1%). The … Read more
Market maker Flowdesk has launched an institutional credit desk, expanding its footprint in digital asset markets as traditional finance players seek more efficient ways to deploy and access capital into crypto. Sophisticated institutional counterparties are seeking structured credit products to manage liquidity, hedge exposure, and generate yield across fragmented venues. Flowdesk’s new desk meets that … Read more
This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole. About two weeks ago, I discussed bitcoin’s (BTC) bullish breakout above a technical resistance called the Ichimoku cloud and potential for a rally to $100,000. This week, the cryptocurrency obligingly surged into six figures. Now, top alternative cryptocurrencies such as … Read more
By Omkar Godbole (All times ET unless indicated otherwise) As the crypto rally gathers pace ether has widened its lead over bitcoin in terms of volatility expectations, signaling relatively greater action not just in the second-largest cryptocurrency, but in the broader digital asset market as a whole. Deribit’s ether implied volatility index (ETH DVOL), which … Read more
German authorities shut down crypto exchange eXch, seizing 34 million euros ($38 million) in tokens and more than 8 terabytes of data in one of the country’s largest law-enforcement actions targeting suspected crypto laundering. The Frankfurt Public Prosecutor’s Office and the Federal Criminal Police Office (BKA) dismantled the eXch’s server infrastructure on April 30, just … Read more
Bitcoin’s (BTC) rally is gaining momentum, with institutions stepping up their exposure to the leading cryptocurrency through Deribit’s BTC options market. “Panning out over just the last week shows a much bigger sign of institutional positioning on BTC,” Deribit said on X Friday, noting the bullish flows in the BTC options. The exchange has seen … Read more
Japanese hotel firm Metaplanet (3350) said it plans to sell another $21.25 million worth of bonds to fund further bitcoin (BTC) purchases. The Tokyo-based firm agreed to issue the debt to EVO FUND on May 9, making it the third such sale in the space of a week, following two issues of $25 million each. … Read more
A Florida-based pharmaceutical distributor is backing XRP as a treasury and payments asset, putting the token at the center of a $50 million financing deal. Wellgistics Health (WGRX) said Thursday it had secured an equity line of credit to support XRP-based reserves and infrastructure for real-time payments. The company plans to use the blockchain to … Read more
Bitcoin’s rapid price rally has caught traders off guard, triggering large liquidations of bearish short positions. The leading cryptocurrency by market value has risen over 3% to $102,500 in the past 24 hours, with prices topping $104,000 at one point, the highest since Jan. 31. The bullish move came as President Donald Trump announced a … Read more
A broad crypto rally led by ether’s (ETH) 20% surge triggered more than $750 million in short liquidations in the past 24 hours, the highest single-day total since 2023 for bearish trades. Data from CoinGlass shows that over 84% of the total liquidations came from shorts, with major altcoins jumping 10%–20% in the span of … Read more
Ethereum’s ether ETH led the market in early Asia hours as traders reacted favorably to the protocol’s recent Pectra upgrade, sending the token up nearly 20%, the biggest gain since 2021, and trading above $2100 according to market data from CoinDesk. The move comes amid a broader crypto market rally that coincided with bitcoin BTC … Read more
Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have officially reached a deal that, if approved by a judge, will bring their years-long legal battle to a close. According to a settlement agreement filed in New York on Thursday, both parties have agreed to a $50 million penalty — a portion of the … Read more
You’re swimming in data. You’re creating new data every day. If your health app counts your steps? That’s new data. The Oura ring that’s tracking your bio-metrics? Valuable data. Your social media posts, even the stupid jokes that got zero likes? More data. This is all data that AI companies would love to harvest. You … Read more
Shares of Coinbase (COIN) fell nearly 3% in post-market trading after it reported a significant drop in revenue in the first quarter of the year, missing analyst estimates, as markets cooled amid economic uncertainty in the U.S. The crypto exchange said it recorded $2 billion in revenue, down from $2.27 billion in the fourth quarter … Read more
Coinbase’s (COIN) $2.9 billion acquisition of Deribit will be a tipping point for the company, pushing the U.S.-based exchange into direct competition with global heavyweights like Binance, Wall Street analysts wrote on Thursday. The massive deal is more than just a platform expansion; it’s a paradigm shift for the exchange and trading industry. According to … Read more
Tech giant Meta (META) is looking to introduce a stablecoin to manage payouts, Fortune reported, citing five sources familiar with the matter. Meta has also hired a vice president of product, Ginger Baker, who has crypto experience to help with its stablecoin efforts, Fortune said. The company’s foray back into crypto is worth noting, given … Read more
NEW YORK, NY — Alex Mashinsky, the founder and former CEO of bankrupt crypto lending platform Celsius Network, was sentenced to 12 years in prison on Thursday for fraud. Judge John Koeltl of the Southern District of New York (SDNY) handed down the sentence, saying the 12 years — composed of a 120-month sentence to … Read more
The U.S. legislation that would establish stablecoin regulation failed to take a huge step closer to reality on Thursday as a rush of Democratic resistance kept the bill from moving into a debate phase, which would have been the path toward an eventual vote on passage. The crypto industry has been closely watching the Senate, … Read more
Bitcoin (BTC) is poised to hit a new record high, with investment flows now the dominant market driver, according to Standard Chartered (STAN). U.S. spot bitcoin exchange-traded funds (ETFs) have seen $5.3 billion in inflows over the past three weeks, the investment bank said in emailed comments Thursday. Adjusting for hedge fund basis trades, net … Read more
Bitcoin is back in six figures, continuing yet another of its famous zigs when most were expecting a zag. To review, the world’s largest crypto first pushed through $100,000 in December as it rallied hard following Donald Trump’s November election victory. The price eventually rose above $109,000 in the hours prior to the Trump inauguration … Read more
The Senate’s Republican majority leader, John Thune, took to the chamber floor on Thursday morning to make a case for moving forward with stablecoin legislation — marking his first significant foray into the topic of crypto as Republicans grow frustrated with keeping what was once a bipartisan effort on track. “Stablecoins should be made in … Read more
Thank you to our sponsor of this week’s newsletter, Grayscale. For financial advisors near Chicago, Grayscale is hosting an exclusive event, Crypto Connect, on Thursday, May 22. Learn more. In today’s Crypto for Advisors, Tedd Strazimiri from Evolve ETFs writes about the evolution of tokenization and the value it brings to investors. Then, Peter Gaffney … Read more
This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole. Traders looking for tokens that may see accelerated gains as bitcoin (BTC) rallies might want to focus on ether (ETH) and the ratio between bitcoin cash (BCH) and bitcoin. Both have broken prolonged downtrends alongside bullish bottom formations in leading … Read more
Crypto market maker GSR has long positioned itself as a leader in market structure, compliance, and global liquidity. With operations spanning centralized and decentralized platforms, the firm is actively shaping how capital flows through the digital asset ecosystem. Part of the company’s success can be attributed to Josh Riezman, a veteran at GSR and now … Read more
Superstate, the tokenized asset management firm behind the $650 million USTB token, is moving into stock tokenization with a new blockchain-based marketplace for public equities, first available on Solana (SOL). The platform, called Opening Bell and unveiled on Wednesday, allows companies to create tokenized versions of SEC-registered shares—not derivatives or synthetic assets—and trade directly on … Read more
The latest Crypto-and-Congress news is all about the Senate Democrats getting cold feet on the stablecoin bill (the GENIUS Act). The same bill they voted for just two months ago. Why the flip-flop? Because they don’t like Trump and they think the bill will help him profit. Why the Democrats keep hitting “replay” on this … Read more
Coinbase has agreed to pay $2.9 billion to buy bitcoin (BTC) and ether (ETH) options platform Deribit, according to a press release, marking its official push into the highly profitable crypto derivatives market in the U.S. The crypto exchange, alongside competitor Kraken, had been in talks to buy Deribit for months, with Bloomberg reporting that … Read more
The Federal Reserve may not cut interest rates any time soon, but when it does, the easing could be aggressive, according to Dutch investment bank ING. On Wednesday, the Fed kept the benchmark rate on hold between 4.25% and 4.5%, with Chairman Jerome Powell raising the specter of stagflation during the press conference following the … Read more
Stripe is ramping up its stablecoin capabilities, expanding the provision for businesses to receive and hold payments on cryptocurrency rails. Following on from Stripe’s acquisition of stablecoin platform Bridge, the San Francsico-based payments giant has unveiled a new money management service powered by stablecoins. Stablecoin Financial Accounts will enable businesses to hold a balance in … 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 2869.91, up 6.2% (+166.74) since 4 p.m. ET on Wednesday. All 20 assets are trading higher. Leaders: SUI (+16.4%) and BCH (+15.6%) Laggards: BTC (+3.3%) and LTC (+4.5%). The … Read more