U.S. Senator Kirsten Gillibrand (D-N.Y.), one of the leading Democrats supporting crypto legislation, warned the industry against pushing for a “watered-down” version of the long-awaited stablecoin legislation currently moving through the Senate, arguing that stringent regulations are necessary to foster innovation and protect investors from bank runs like the one on Silicon Valley Bank in … Read more
Wyoming state is making steps towards launching a stablecoin later this year, which could be the first fiat-backed and fully reserved token issued by a public entity in the U.S., state officials said at the DC Blockchain Summit on Wednesday. The Wyoming Stable Token (WYST) is currently being tested on Avalanche, Solana, Ethereum, Arbitrum, Optimism, … Read more
Just 24 hours after adding its name to the roster of companies pursuing a bitcoin (BTC) treasury strategy, GameStop (GME) — led by its CEO Ryan Cohen — is also adding its name to those firms issuing convertible debt to raise funds for BTC acquisition. The $1.3 billion of convertible senior notes will have a … Read more
Shares of GameStop (GME) traded 16% higher on Wednesday after the company announced that it would start buying bitcoin (BTC) to add to its balance sheet. The gaming retailer reported holding $4.8 billion in cash during its fourth-quarter earnings on Tuesday. Company CEO Ryan Cohen weeks ago had teased an interest in purchasing bitcoin for … Read more
Banks across the globe held a total of 341.5 billion euros ($368.3 billion) in crypto assets under custody in the second quarter of 2024 but spot crypto assets now make up less than 3% of banks’ holdings — down significantly from a few years ago, data by standard setter Basel Committee on Banking Supervision (BCBS) … Read more
Bitcoin’s (BTC) rise following GameStop’s Tuesday bitcoin treasury strategy announcement halted just shy of the $89,000 level and things are now headed decidedly lower during U.S. trading hours Wednesday. Just after the noon hour on the east coast, bitcoin has pulled back about 3% from overnight highs to $86,500. The broad-market crypto benchmark CoinDesk 20 … Read more
WASHINGTON, D.C. — World Liberty Financial (WLFI), the financial protocol backed by President Donald Trump and his family, pitched its own stablecoin at a Washington crypto event on Wednesday, where lawmakers also attended to give the industry updates on their progress with U.S. policy efforts. Behind the three co-founders of WLFI, Donald Trump Jr. connected … Read more
There’s never been a better time to allocate money to crypto hedge funds. That’s according to Chris Solarz, the chief investment officer of digital assets at Amitis Capital, a firm which runs a crypto-focused fund of funds — meaning a fund that specializes in allocating capital to various money managers. “This is the golden age … Read more
whichHyperliquidity Provider (HLP), a market making vault that is a part of derivatives exchange HyperLiquid, faced a grueling loss after a trader allegedly manipulated the price of the JELLY token. HyperLiquid’s native token (HYPE) fell by 20% after HLP’s unrealized PNL temporarily stood at negative $13.5 million. According to Lookonchain, a trader that held $4.85 … Read more
Could the crypto revolution’s legacy extend beyond democratizing money? Today, it’s paving the way to reinvent private credit. Envision a future where lending to mid-sized businesses or financing infrastructure projects mirrors the efficiency and openness of a decentralized exchange. That’s the aim of tokenization, a blockchain-powered innovation breaking down decades-old barriers in a $1.7 trillion … Read more
The final dress rehearsal for Ethereum’s upcoming Pectra upgrade occurred Wednesday, as the blockchain’s biggest changes in over a year were tested an additional time following a series of mishaps. The upgrade on the new Hoodi testnet was closely watched given that two previous tests, on the Holesky and Sepolia test networks, failed to finalize … Read more
TruBit, a Latin America-based cryptocurrency exchange with regulatory licenses in Mexico and Argentina, is offering users in the region a decentralized finance (DeFi) yield product powered by crypto lender Morpho. Catering to a growing demand for crypto-backed lending, this move by retail exchanges is all about creating an easy way for users to interact with … Read more
WASHINGTON, D.C. — The U.S. House of Representatives should have the actual text to debate on Wednesday of a bill that would regulate stablecoins, according to a key lawmaker pushing that legislation, which should get the House ready to potentially catch up with a parallel Senate effort. Rep. Bryan Steil, the Republican who leads the … Read more
Bitso, a crypto exchange focusing on Latin America, is entering the increasingly attractive stablecoin market as global adoption accelerates. The company’s business development unit, Bitso Business, has established Juno, a subsidiary dedicated to issuing and managing digital assets including stablecoins. Bitso Business also recently appointed Ben Reid as head of stablecoins to drive the firm’s … 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 2805.5, down 0.0% (-0.17) since 4 p.m. ET on Tuesday. Fourteen of 20 assets are trading higher. Leaders: POL (+7.4%) and SUI (+6.0%). Laggards: AVAX (-2.0%) and NEAR (-1.0%). … Read more
As bitcoin’s (BTC) recovery rally continues, $90,000 is now the key level where things could get interesting. The projection is based mainly on the current positioning of options market makers. Market makers, also known as dealers or MMs, are responsible for providing liquidity to the order book. They occupy the opposite side of investors’ trades … Read more
By Omkar Godbole (All times ET unless indicated otherwise) The sun shone on crypto markets early Wednesday, with bitcoin having another go at $88,000 amid growing chatter about bullish seasonality factors as March draws to a close and the second quarter looms. The last 10 years of price data tracked by analyst Miles Deutscher show … Read more
A rogue actor operating from an Ethereum wallet ‘BornTooLate.Eth’ has engaged in a governance attack on UMA, a decision-making oracle used by Polymarket, to attack the outcome of a Ukraine-themed contract by becoming one of the largest holders of UMA tokens. UMA is a decentralized “optimistic” oracle protocol that resolves disputes in prediction markets by … Read more
Fidelity Investments is in advanced stages of developing its own stablecoin, the Financial Times reported on Wednesday. The Boston-based financial services giant plans for the token to serve as a form of digital cash, according to the report, which cites two people close to the matter. The token would form part of company’s strategy to … Read more
Bitcoin remained steady above $87,000 in Asian afternoon hours Wednesday as traders continued to monitor U.S. data releases and how the levy of U.S. tariffs will play out starting April 2, with most in wait-and-watch mode. Majors were little-changed in the past 24 hours as Solana’s SOL, xrp (XRP), BNB Chain’s BNB, and ether (ETH) … Read more
Bitcoin’s (BTC) recovery looks to have run out of steam with an emergence of a double top bearish reversal pattern on the short duration price charts. BTC peaked near $87,400 last week, with prices pulling back to around $84,000 on Friday and staging a recovery to above $87,000 before stalling again. This sequence of two … Read more
Crypto start-up Plasma unveiled technical features of its stablecoin-specific blockchain, promising fast and efficient global stablecoin transfers by employing a “HotStuff-inspired” consensus mechanism. The HotStuff consensus is an example of Byzantine Fault Tolerance (BFT) for blockchains that allows consensus even when some nodes are faulty or malicious. Imagine a group of friends planning a picnic … Read more
The Celo blockchain’s long-awaited plan of becoming an Ethereum layer-2 chain has been completed, ending an almost two-year process, the main organizations behind the network said Wednesday. The transition ends a long journey beginning back in July 2023 for the layer-1 blockchain that included a community vote in July 2024 and a fierce competition, won … Read more
Movement’s MOVE token was the market leader during East Asia’s morning trading hours, up over 25%, according to CoinDesk market data, as the market reacted favorably to Movement’s plan to create a Strategic Reserve. MOVE is outperforming the CoinDesk 20 (CD20), a measure of the performance of the largest digital assets, which is trading flat. … Read more
Crypto prime broker FalconX has seen the departure of several senior staff recently, according to three people with knowledge of the matter. Among those resigning was Tommy Doyle, FalconX’s European head, according to the sources. The global chief compliance officer, general counsel, and head of credit at FalconX have also resigned, the sources said, who … Read more
In a conversation at the Exchange conference in Las Vegas, which has brought together about 2,000 investment advisors and asset managers, Dominic Rizzo, global technology portfolio manager at R. Rowe Price—the firm that handles over $1 trillion in assets—said that now is a good time to have exposure to bitcoin. He likened the price of … Read more
The U.S. Securities and Exchange Commission’s (SEC) Crypto Task Force will host four more roundtable discussions with the industry this spring, on topics ranging from tokenization to decentralized finance (DeFi). The Crypto Task Force’s first roundtable discussion — the kick-off to what Commissioner Hester Peirce, the task force’s leader, has dubbed the SEC’s “Spring Sprint Toward … Read more
The market value of tokenized U.S. Treasuries this week surpassed the $5 billion for the first time, rwa.xyz data shows, as demand for blockchain-based real-world assets (RWAs) accelerates. The asset class grew by $1 billion through just two weeks, led by inflows into asset management giant BlackRock’s and digital asset firm Securitize’s market leading BUIDL. … Read more
GameStop (GME) has added its name to the quickly-growing roster of publicly-traded companies adopting a bitcoin treasury strategy. Alongside its fourth quarter earnings report, the company said its board unanimously approved adding bitcoin as a treasury reserve asset. CEO Ryan Cohen in early February got tongues wagging when he posted a picture of himself and … Read more
The long-running legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) seems to finally be near an end, with Ripple emerging victorious. The SEC will return the lion’s share of the $125 million-court ordered fine paid by Ripple last year, according to a Tuesday X post from Ripple’s chief legal officer … Read more