As if the bursting of a speculative bubble in memecoins wasn’t enough to send crypto markets tumbling over the past weeks, a general risk off sentiment in traditional finance is adding to the pressure. Perhaps in a bit of a speculative bubble themselves, the major U.S. stock market averages have been in quick retreat of … 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 2684.39, down 3.9% (-109.08) since 4 p.m. ET on Monday. Two of 20 assets are trading higher. Leaders: HBAR (+4.2%) and AAVE (+1.3%). Laggards: SUI (-11.0%) and DOT (-8.2%). … Read more
The total market cap of the 14 publicly-listed U.S. miners that Wall Street bank JPMorgan (JPM) tracks dropped 22% in February as the bitcoin (BTC) price declined and mining economics came under pressure. Bitcoin miners with high performance computing (HPC) exposure fell following the DeepSeek artificial intelligence (AI) announcement, and due to concerns about demand … Read more
Payments-focused cryptocurrency XRP peaked at $3.40 in January but has since dropped 30% to $2.40. Despite this decline, the $5 call option remains the most favored bet on Deribit, offering significant upside potential for buyers if the price exceeds that level. However, this does not necessarily indicate an outright bullish positioning among traders. At press … Read more
El Salvador’s bitcoin dreams will now exist in a “confined” manner as part of an Extended Fund Facility (EFF) arrangement, approved on Feb. 26 by the International Monetary Fund (IMF). The 40-month, $1.4 billion EFF arrangement is aimed at addressing macroeconomic imbalances and boosting growth prospects with an immediate disbursement of US$113 million — but … Read more
Ricardo Salinas, an outspoken Mexican billionaire, has revealed that his investment portfolio is mostly allocated to bitcoin (BTC), gold and shares in his companies. The Mexican billionaire, whose net worth is estimated to be around $5.8 billion, is a known BTC proponent who on numerous occasions showed support for the cryptocurrency. Four years ago, Salinas … Read more
Cryptocurrency custody firm Taurus, which counts the likes of Deutsche Bank and State Street among its clients, has expanded its footprint to Turkey. Taurus is now providing custody services to Istanbul-based BankPozitif, marking the first such time a Turkish bank has implemented institutional-grade digital asset infrastructure, according to an emailed announcement on Tuesday. As well … Read more
Infrared, the first proof of liquidity (PoL) staking protocol on Berachain, has raised $14 million in a Series A round led by Framework Ventures. It brings the total amount raised up to $18.75 million after a $2.25 million strategic round led by Binance Labs and a $2.5 million seed round. Berachain is a layer-1 blockchain … Read more
“Ask for 1,000 to settle at 500.” This classic real estate negotiation strategy involves starting with an extreme demand, creating leverage over the counterparty to ultimately seal the deal at a lower price, which was your intended goal all along. U.S. President Donald Trump, formerly a real estate tycoon, is seemingly employing the same strategy … Read more
By James Van Straten (All times ET unless indicated otherwise) The CME bitcoin (BTC) futures chart is in focus once again as bitcoin’s recent 12% retracement has filled the latest CME gap—caused by the exchange’s weekend closure and bitcoin’s price run up to $95,000. According to RiggsBTC, a post on X highlights a striking statistic: … Read more
Tom Lee, Head of Research at Fundstrat, recently spoke with CNBC, suggesting that the broader market may be nearing a bottom, potentially as soon as this week. Lee’s outlook comes amid economic uncertainty as President Trump navigates his first 100 days in office. Several factors are contributing to market volatility, including the Department of Government … Read more
Over 77% of the funds stolen in a record hack on crypto exchange Bybit remain traceable, while 20% have “gone dark” and are untraceable, CEO Ben Zhou said in an update on X early Tuesday. “This and the coming week is critical for fund freezing as the funds will start to clear at exchanges, otc … Read more
Flowdesk has secured $102 million in fresh funding to expand its digital asset trading and liquidity business, backed by HV Capital and a debt facility from BlackRock-managed funds. “This funding round marks a pivotal moment for Flowdesk as we accelerate our expansion into key global markets,” said CEO Guilhem Chaumont in an email to CoinDesk. … Read more
A closely-watched gap in bitcoin’s (BTC) CME futures has been fully filled a day after a record jump in opening and closing prices, possibly setting the stage for the next climb. BTC soared to $92,000 on Monday, fueled by renewed institutional fervor after U.S. President Donald Trump announced plans for a strategic crypto reserve late … Read more
Research service Ecoinometrics stated on Monday that bitcoin’s (BTC) long-term recovery is closely tied to the Nasdaq’s ability to trend upward, highlighting the significant positive correlation between the two. Unfortunately for crypto bulls, the Nasdaq triggered a major bearish reversal pattern known as a “double top” on Monday, putting BTC’s 200-day simple moving average (SMA) … Read more
Major tokens Cardano’s ADA, XRP, and Solana’s SOL plummeted 21% on Tuesday, just days after a dramatic surge fueled by President Donald Trump’s announcement of a U.S. crypto strategic reserve, erasing all gains sparked by the initial excitement. The sharp reversal aligned with a cautious mood among traders after Monday’s market rally following the ambitious … Read more
THORChain, a decentralized protocol enabling users to swap cryptocurrencies across various blockchains, has seen what can be described as an unwanted windfall after the Bybit hack. The protocol processed $4.66 billion in swaps in the week ended March 2, the highest tally on record, according to data source DefiLlama. The tally exceeded the $1 billion … Read more
Ether (ETH) is testing levels not seen since November 2023, as the market continues to be hit by volatility resulting from U.S. President Donald Trump’s trade war threat. ETH is down 15% in the last 24 hours, according to CoinDesk Indices data, dragging down the CoinDesk 20, a measure of the largest digital assets, which … Read more
CoreWeave, an AI firm in close partnership with bitcoin miner Core Scientific (CORZ), filed for an initial public offering (IPO) today. The company is expected to raise $4 billion, with a valuation of more than $35 billion. Today’s filing showed the company had seen $1.9 billion in revenue in 2024, resulting in a net loss … Read more
The new chief counsel of the U.S. Securities and Exchange Commission’s (SEC) freshly-created Crypto Task Force is a crypto lawyer. Mike Selig, who was named chief counsel of the task force in a Monday announcement from the SEC, was previously a New York-based partner at white-shoe international law firm Willkie Farr & Gallagher, where he … Read more
At the Bitcoin Conference in Nashville in July, Donald Trump pledged to create a “strategic national bitcoin reserve.” By Sunday morning March 2, that reserve also included ether (ETH), XRP, Solana (SOL) and Cardano (ADA) alongside bitcoin (BTC). Trump’s message on Truth Social said his presidential working group was moving forward on creating the larger-scope … Read more
Sunday’s Trump bump in crypto has mostly vanished nearly as quickly as it appeared. In mid-afternoon U.S. action, bitcoin (BTC) is changing hands at $86,700, barely above its level prior to President Trump taking to social media Sunday to tout his plans for coming U.S. crypto reserve. Ether is now actually beneath its pre-Trump level … Read more
President Trump’s announcement on Sunday that he plans to establish a federal cryptocurrency reserve sent digital asset markets soaring. However, it also reignited concerns over potential conflicts of interest, this time involving David Sacks, the venture capitalist who serves as Trump’s crypto and artificial intelligence czar. The president said on Sunday that a future U.S. … Read more
Crypto custody firm Copper has hired Tammy Weinrib as its new chief compliance officer and Bank Secrecy Act (BSA) officer for the Americas, the company said in a press release Monday. Weinrib will lead the firm’s licensing drive in the U.S. market and will be part of Copper’s executive team, based in New York. Her … Read more
Crypto exchange-traded products (ETPs) suffered their largest weekly sell-off on record, with investors pulling approximately $2.9 billion from these funds, according to a report by CoinShares published on Monday. The massive outflows mark a significant shift in sentiment after a prolonged period of steady investment into digital asset products. This latest wave of withdrawals extended … Read more
A trader on decentralized derivatives platform Hyperliquid used 50x leverage to open a $200 million long position on bitcoin (BTC) on Sunday, netting a gain of around $6.8 million after U.S. President Donald Trump spurred a market-wide rally by announcing the nation’s crypto reserve. The trader used $4 million worth of collateral to place a … Read more
The U.S. Securities and Exchange Commission (SEC) has agreed to drop its ongoing enforcement lawsuit against American crypto exchange Kraken, according to a Monday announcement from the firm. The SEC sued Kraken in November 2023, accusing the exchange of commingling customer and corporate funds while operating as an unregistered securities broker, clearing agency and dealer. … Read more
Hybrid layer-2 network BOB’s mission to make Bitcoin the center of the decentralized finance (DeFi) universe continues through its integration with crypto custody firm Fireblocks. The integration means the over 2,000 entities using Fireblocks will get access to BOB’s DeFi ecosystem, which has total value locked (TVL) of around $250 million. These users can now … Read more
Bitcoin mining firm Hut 8 took $331 million in net income in 2024, according to the company’s latest financial report. The firm benefited significantly from the rise in bitcoin’s price over the year. Hut 8 finished the year with a reserve of 10,171 bitcoin (BTC), worth approximately $905 million at the time of writing. The … Read more
President Trump set off the mother of short squeezes on Sunday with his crypto reserve post, but gains are quickly reversing during early U.S. trading on Monday. Bitcoin (BTC) has slipped about 5% in the past hour, now trading at $89,500. It’s still up from roughly the $85,000 area prior to the president’s social media … Read more