CoinDesk

Ether (ETH) has dropped 39% this year relative to bitcoin (BTC), the largest cryptocurrency, taking the ratio between the two to the lowest in almost five years as a riskier macroeconomic environment weighs on the second-largest cryptocurrency. At the current level, 1 ETH is the equivalent of 0.02191 BTC. That’s the least since May 2020, … Read more

Faint hopes of dogecoin (DOGE) being included in the U.S. Department of Government Efficiency (D.O.G.E.) were dented on Sunday as the department’s figurehead Elon Musk squashed any plans of adding the memecoin. “There are no plans for the government to use dogecoin or anything,” Musk said during a speech at the America PAC town hall … Read more

Japan’s Financial Services Agency (FSA) plans to reclassify cryptocurrencies as financial products under new rules, aimed at curbing insider trading in the digital asset market, per a Nikkei report on Sunday. The move comes as part of a broader effort to strengthen oversight in Japan’s crypto ecosystem, which has witnessed growing adoption alongside a rise … Read more

Bitcoin is making its way from trading desks to corporate treasuries, and by the end of the decade, it could be standard practice, according to one analyst. “Across all the different strategies and implementations, I anticipate that by 2030, a quarter of the S&P 500 will have BTC somewhere on their balance sheets as a … Read more

It’s a bloodbath for digital assets, with traders hitting the sell button, wiping out over $160 billion of the total cryptocurrency market cap since Friday. Few things have compounded as the first quarter of this year closes out, leading to the sell-off, including Trump’s tariff threats, global economic concerns and the lack of a clear … Read more

Terraform Labs, the firm behind the collapsed Luna token and the TerraUSD stablecoin, will open a portal on March 31 to allow investors to file claims for crypto losses tied to the company’s downfall and subsequent bankruptcy. The online system, operated by claims administrator Kroll, is part of the company’s court-supervised wind-down process. Investors have … Read more

Bitcoin mining company MARA Holdings (MARA) is launching a fresh $2 billion stock offering to buy more bitcoin, continuing its plan of buying BTC in the open market through capital raise while sticking to its “Hodl” strategy. According to a Form 8-K and a new prospectus filed with the U.S. Securities and Exchange Commission (SEC), … Read more

FTX, the collapsed cryptocurrency exchange once helmed by Sam Bankman-Fried, plans to begin paying its main creditors at the end of May, Bloomberg reported based on court proceedings in Delaware this week. The company has gathered $11.4 billion in cash to distribute to thousands of parties affected by its 2022 bankruptcy, with the first payments … Read more

Cryptocurrency prices have experienced a sharp declune over the last few hours, with bitcoin (BTC) now being down around 3% over the last 24 hours, while major altcoins including XRP, BNB, and SOL are down between 4% and 5% over the same period. The broader cryptocurrency market, represented by the CoinDesk 20 Index (CD20), lost … Read more

The U.S. Securities and Exchange Commission has dropped or paused over a dozen ongoing cases (and lost one) since U.S. President Donald Trump retook office just over two months ago and appointed Commissioner Mark Uyeda as acting chair. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click … Read more

Hopes for the crypto recovery to continue vanished on Friday, as a market-wide rout erased virtually all gains from earlier this week. Bitcoin (BTC), hovering just below $88,000 a day ago, tumbled to $83,800 recently and is down 3.8% over the past 24 hours. The broad-market benchmark CoinDesk 20 Index declined 5.7%, with native cryptos … Read more

Arthur Hayes, the former CEO of crypto exchange BitMEX, has been granted a pardon by U.S. President Donald Trump, a White House official confirmed Friday. Trump also pardoned Hayes’ co-founders at BitMEX, Samuel Reed and Benjamin Delo. CNBC first reported the pardons, which the White House said were signed on Thursday. In 2020, the U.S. … Read more

The Federal Deposit Insurance Corp. will no longer instruct banks to get prior sign-off before they engage in crypto activities — a standard that was set in 2022 and that effectively severed institutions from the digital assets sector as they waited for approvals that never came. The FDIC, which is the chief federal supervisor of … Read more

Shares of CoreWeave (CRWV) opened at $39 apiece during the company’s debut on Nasdaq on Friday afternoon, just under its initial public offering which closed Thursday evening. The cloud computing firm had sold roughly 37.5 million shares at $40 each, raising about $1.5 billion for its initial public offering (IPO), making it the largest tech … Read more

Baanx, a cryptocurrency debit card enabler for the likes of MetaMask and 1inch, has introduced a rewards wallet combining on-chain finance with traditional loyalty perks and discounts, using underlying technology from Circle, the provider of the USDC stablecoin. Built on Circle’s programmable wallet tech, the Baanx platform allows crypto holders access to cashback, fee discounts, … Read more

It was a bad week for crypto prices, with BTC and ETH both falling and the CoinDesk 20, which covers 80% of the market, losing 7% since Monday. But less speculative assets showed plenty of volume. Stablecoins, in particular, were the name of the game this week. The U.S. House introduced a stablecoin bill, following … Read more

An investment firm with ties to U.S. President Donald Trump’s sons, Eric and Donald Trump Jr., is putting some of its excess cash into a spot bitcoin exchange-traded fund (ETF) — an unusual twist on the increasingly popular strategy of holding bitcoin as a corporate reserve. Dominari Holdings (DOMH), located in the Trump Tower in … Read more

Is Strategy (MSTR) in trouble? Led by Executive Chairman Michael Saylor, the firm formerly known as MicroStrategy has vacuumed up 506,137 bitcoin (BTC), currently worth roughly $44 billion at BTC’s current price near $87,000, in the span of about five years. To the casual observer, the company seems to have a magic, unlimited pool of … Read more

U.S. Representatives Zach Nunn (R-Iowa) and Jim Himes (D-Conn.) reintroduced a bill to help combat illicit finance and terrorist financing on digital asset platforms after the previous version passed the House of Representatives last year failed to make progress in the Senate before the end of the congressional session. The Financial Technology Protection Act (FTPA) introduced … 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 2616.04, down 4.5% (-123.93) since 4 p.m. ET on Thursday. None of the 20 assets are trading higher. Leaders: BTC (-2.5%) and BCH (-3.6%). Laggards: POL (-8.3%) and SUI … Read more

Nasdaq submitted a 19b-4 filing with the U.S. Securities and Exchange Commission (SEC) to approve the listing of a spot Avalanche exchange-traded fund (ETF) managed by Grayscale. Grayscale already manages an Avalanche Trust that carries a 2.5% management fee. The filing could lead to a cheaper, more flexible investment vehicle with exposure to the AVAX … Read more

Galaxy Digital (GLXY), the Mike Novogratz-led digital asset financial services firm, will pay $200 million as a settlement with the New York Attorney General’s (NYAG) office relating to the collapse of the Terra-Luna ecosystem in 2022. The firm will pay $200 million to the State of New York for matters relating to its investment, trading … Read more

By Francisco Rodrigues (All times ET unless indicated otherwise) The crypto market is extending yesterday’s slide as investors anticipate the impact of President Donald Trump’s reciprocal tariffs, set to come into effect on April 2, and key macroeconomic data due later Friday. Bitcoin (BTC) has lost 2.5% in the past 24 hours, which seems pretty … Read more

Bpifrance, a French state-owned investment bank, plans to invest 25 million euros ($27 million) in digital assets as part of an initiative to strengthen the country’s blockchain industry. The bank will buy and hold crypto tokens related to decentralized finance (DeFi) tokenization, staking and staking, it said on Thursday. The plan is for the investments … Read more

One cold February morning in 2014, Kolin Burges stood outside Mt. Gox’s Tokyo office, clutching a handwritten cardboard sign and demanding answers from the bitcoin exchange’s CEO, Mark Karpeles, about his missing tokens. Eleven years later, the iconic sign, emblematic of crypto’s first major financial scandal, is being auctioned on Scare.City with a reserve price … Read more

The U.K.’s crypto industry has just over 12 months to prepare for an even stricter regulatory regime, a senior official with the country’s finance regulator said. Matthew Long, director of payments and digital assets at the U.K.’s Financial Conduct Authority (FCA), told CoinDesk in an interview that the “impending gateway regime” that is earmarked for … Read more

Dogecoin (DOGE), ether (ETH) and xrp (XRP) sank more than 5% in early Asian hours as traders took profits on a relief rally earlier in the week, with eyes on the U.S. personal consumption expenditure (PCE) figures scheduled for release later Friday. Crypto majors tracked by the broad-based CoinDesk 20 (CD20) showed a 4.5% slide … Read more

GameStop (GME) has priced its previously announced private offering of $1.3 billion in convertible senior notes, setting the stage for the company’s foray into having bitcoin (BTC) on its balance sheet. The zero-coupon notes, due in 2030, will initially convert at a rate of 33.4970 shares per $1,000, representing an initial conversion price of approximately … Read more

Artificial intelligence-focused firm CoreWeave raised $1.5 billion for its initial public offering (IPO), valuing the company at roughly $23 billion, Bloomberg reported on Thursday night, confirming earlier reports that it had downsized its IPO. The cloud provider sold 37.5 million shares at $40 each. It had initially planned to sell 49 million shares at $47 … Read more