Spot bitcoin exchange-traded funds (ETFs) in the U.S. saw $94.3 million of total inflows on the last day of February as crypto’s worst month in three years came to an end. The figure capped an eight-day streak of outflow during which investors pulled over $3.2 billion from these funds as digital asset prices fell. BlackRock’s … Read more
The cryptocurrency market is showing initial signs of recovery from its worst month in three years after the price of bitcoin (BTC) plunged to $78,000 in a week that saw the space’s total market capitalization drop by over $400 billion. The dip in prices saw the Crypto Fear & Greed Index plunge to 10, a … Read more
The U.S. Securities and Exchange Commission has been busy over the past few weeks, hinting at a brighter future for crypto companies. PS: I’ll be in San Francisco next week for the American Banker Payment Forum. Say hello. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click … Read more
U.S. President Donald Trump will host a crypto summit on March 7, the White House announced. White House Crypto and AI Czar David Sacks and Bo Hines, the executive director of a working group on digital assets, will run the meeting, though Trump will speak at the summit, a late Friday press release said. “Attendees … Read more
A federal judge has dismissed the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Richard Heart, the founder of HEX, PulseChain and PulseX, ruling that the agency lacked jurisdiction because the project did not specifically target U.S. investors. “The relevant online communications described in the Complaint during the offer periods consist of untargeted, globally available information,” … Read more
DTTM Operations, a company that manages U.S. President Donald Trump’s IP rights, filed a trademark with the U.S. Patent and Trademark Office (USPTO) which might hint at potential non-fungible tokens (NFTs) and metaverse platform. The document lists various products related to blockchain-based goods and services, including accessing NFTs, managing cryptocurrency transactions, virtual reality software and … Read more
Bitcoin (BTC) took the spotlight from the rest of the crypto market in 2024, but the Trump administration is quickly changing the rules of the game and a rotation into other assets could end up happening, according to crypto data firm Kaiko Research In fact, the decentralized finance (DeFi) sector isn’t looking too bad, Kaiko … Read more
Two big themes dominated the crypto news this week: sagging asset prices and the official end of the SEC’s enforcement “mania.” On the former: Bitcoin, which rose steadily from about $70,000 following November’s election, fell precipitously. In early-hours Feb. 28, the price had dipped below $80,000. CoinDesk’s Market Index, which tracks the broader digital assets … Read more
BlackRock has added the iShares Bitcoin Trust (IBIT), the fund issued by the asset manager that holds bitcoin (BTC), to one of its model portfolios. These models suggest portfolios and rebalances which are then followed by advisors and platforms who can also request adjustments to the models based on their investment needs. BlackRock added a … Read more
The price of bitcoin (BTC) in U.S. Friday morning trade has bounced back to about $84,000 after an overnight plunge to the $78,000 area, but still remains lower by more than 15% from its level of only one week ago. The Crypto Fear & Greed Index overnight dipped to 10 — a level not seen … Read more
Bitdeer Technologies (BTDR) said it bought 50 bitcoin (BTC), taking the opportunity to build its stash as the price of the largest cryptocurrency looked set for its worst month since June 2022. In a tweet, the bitcoin mining company said it paid an average of $81,475 per bitcoin. This purchase takes Bitdeer’s total bitcoin treasury … Read more
In January, following Donald Trump’s inauguration, reports emerged claiming that his son, Eric Trump, had confirmed that U.S.-based cryptocurrencies would eventually be exempt from capital gains tax, while non-U.S. based cryptocurrencies would face a 30% tax. The elimination of capital gains taxes on U.S.-based cryptocurrencies might sound like a dream come true for American investors, … Read more
CME Group, the world’s largest derivatives marketplace, plans to introduce Solana (SOL) futures on March 17, expanding its suite of cryptocurrency derivatives, it said in a press release on Friday. The new contracts, pending regulatory review, will allow traders to manage SOL price risk with two contract sizes: 25 SOL and 500 SOL. “With the … 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 2612.03, down 3.2% (-86.41) since 4 p.m. ET on Thursday. One of 20 assets are trading higher. Leaders: SOL (+1.4%) and APT (-0.5%). Laggards: UNI (-7.1%) and AAVE (-7.0%). … Read more
Boerse Stuttgart, one of Germany’s top stock exchanges, has announced a partnership with DekaBank to bring cryptocurrency trading to the German investment bank’s institutional clients. The partnership allows DekaBank, a financial giant with over 411 billion euros ($427 billion), to integrate crypto into its offerings using Boerse Stuttgart Digital’s regulated brokerage infrastructure. “Partnering with DekaBank … Read more
By Omkar Godbole (All times ET unless indicated otherwise) It’s the dip that keeps on dipping. Bitcoin took another hit early Friday, falling below $80,000 and taking February’s decline to over 20%. That spurred a bloodbath in the broader crypto market, with ether sliding below $2,100, a level it managed to hold since August. It’s … Read more
As bitcoin’s (BTC) price wilts, traders on crypto exchange Bitfinex are living up to their reputation of being dip buyers, offering some hope to battered crypto bulls given their track record of predicting market peaks and troughs. The number of bitcoin bought on Bitfinex with borrowed cash, a bet that the BTC price will rise … Read more
Bitcoin (BTC) is on track for its worst month in three years, falling 22% as President Donald Trump’s tariffs on major U.S. trading partners raise concerns of faster inflation, reduced chance of interest-rate cuts and lowered appetite for risky investments. The last time the largest cryptocurrency fell as much as June 2022, when it fell … Read more
Remember the last time you went on vacation? After locking the door and heading toward your car, you likely turned back abruptly to ensure the lock was secure before continuing your journey. Financial markets, led by a range of human emotions, exhibit similar behaviors. After a convincing move beyond a long-held resistance, assets typically return … Read more
XRP and dogecoin (DOGE) plunged over 10% to lead losses among crypto major as confirmation of fresh U.S. tariffs on China hit Asian markets on Friday, adding to an already tumultuous week for cryptocurrencies. Bitcoin (BTC) dropped 7% to near $79,000 for the first time since November, down nearly 30% since its January peak of … Read more
MetaMask, the popular self-custodial crypto wallet for the Ethereum (ETH) network, shared a flurry of announcements on Thursday, aimed at improving its wallet’s user experience. Part of Metamask’s revamped roadmap includes adding smart contract capabilities to its current wallet. At the moment, MetaMask is an Externally Owned Account (EOA), a type of wallet that is … Read more
For decades, your investment portfolio has revolved around a key academic idea that hasn’t held up very well: efficient markets. There’s a direct line from the efficient markets theory of Eugene Fama in the 1960s to modern portfolio theory. It paved the way for index funds, a strategy that has not only weathered market cycles … Read more
A group of big-name crypto and blockchain firms have joined forces to deliver open artificial intelligence (AI) services using combined infrastructure. The Open Agents Alliance (OAA) consists of NEAR AI, the payments and AI arms of crypto exchange Coinbase and an array of other blockchain and AI projects. The aim of the alliance is to … Read more
The U.S. Securities and Exchange Commission (SEC) is officially washing its hands of memecoins. The federal securities regulator said that memecoins — which it defined as a “type of crypto asset inspired by internet memes, characters, current events or trends for which the promoter seeks to attract an enthusiastic online community to purchase the memecoin … Read more
Blockchain and Crypto have a complicated status in China: Beijing says no to crypto but yes to blockchain. It bans trading yet builds infrastructure. Now, with Hong Kong offering regulated crypto markets, insiders say a loophole is emerging. If China already allows investors to buy U.S. stocks through its Qualified Domestic Institutional Investor (QDII) program, … Read more
Every successful crypto conference needs a Hackathon to showcase the ideas and projects that will usher in the next wave of Web3 ideas. Consensus Hong Kong—sponsored by EasyA, the start-up for developers—did just that and brought in hundreds of competitors to highlight the projects that look to take the industry to the next level. EasyA’s … Read more
Coinbase has been freed from its protracted legal battle with the U.S. Securities and Exchange Commission as the agency agreed to drop the case that’s been among the industry’s core fights in federal court. Though the SEC’s intention to agree to shut down the legal dispute had already gone public when the U.S. crypto exchange … Read more
A lot of attention is paid to the decentralization of the Bitcoin network. Bitcoin miners should set up shop in a number of different jurisdictions in order to prevent any kind of regulatory capture of the network, so the thinking goes. Some members of the crypto community even saw China’s 2021 crypto ban as a … Read more
The January bursting of a massive speculative bubble in memecoins by itself seemed good enough reason for the general crypto market selloff of the past several weeks. The declines sped up in a big way this week, though, in part thanks to growing risk-off sentiment in the previously perky stock market. Down more than 2% … Read more
This year’s rapid surge in U.S. states’ interest to put public money into cryptocurrencies before the federal government can establish a strategic reserve of digital assets has encountered mixed results after five such efforts flamed out, though Utah remains a single vote away from the finish line and Texas reportedly advanced a bill to its … Read more