The U.S. House of Representatives has taken the first significant move to erase the work of the Internal Revenue Service to impose a tax regime on decentralized financial (DeFi) platforms in the final days of former President Joe Biden’s administration. The House Ways and Means Committee — the panel responsible for overseeing the Treasury Department’s … Read more
U.S. Treasury Secretary Scott Bessent named Galaxy Digital regulatory counsel Tyler Williams to advise on digital assets and blockchain technology policy. Williams currently serves as head of Regulatory and Legislative Affairs & Regulatory Counsel at Galaxy Digital and also lectures part-time at The George Washington University Law School. He has previously worked with the government, … Read more
Bank of America, which has historically taken a backseat in the crypto industry, is prepared to launch its own dollar-backed stablecoin if U.S. lawmakers approve legislation allowing it to do so, its CEO said Tuesday. “If they make that legal, we will go into that business,” Bank of America CEO Brian Moynihan said in an … Read more
In the wake of the appointment of a U.S. crypto czar and the announcement of comprehensive crypto legislation, many believe the era of “regulation by enforcement” in the U.S. is over. But while the SEC and CFTC now have crypto-friendly chairmen, both state regulators and Attorneys General are poised to take their place as aggressive … Read more
Disclaimer: The analyst who wrote this piece owns shares of Strategy (MSTR). Bitcoin’s sharp price declines have dominated news headlines this week, but major corporate BTC holder Strategy (MSTR) has been in a downtrend for more than three months. Trading around the $250 level on Wednesday, Strategy is lower by about 55% since peaking at … Read more
The U.K. government introduced a new crime bill on Tuesday that, if passed, aims to help law enforcement agencies retrieve money from crypto criminals. The Home Office’s Crime and Policing Bill introduces measures that set out how to value destructed crypto property – in the event law enforcement agencies required it to be destroyed if … Read more
Strategy (NASDAQ: MSTR), the SaaS-based business intelligence company formerly known as MicroStrategy that pioneered a bitcoin treasury strategy, is currently trading at a $73 billion market cap, ~1.6x the value of its underlying bitcoin holdings. This so-called “MSTR premium” has caused much misunderstanding, healthy skepticism and even consternation, but with a decade of deep equities … Read more
The investment conversation around crypto has transitioned from questioning the survival of cryptocurrencies to discussing efficient allocation strategies. Most notably, institutional investors are moving on from testing the waters with bitcoin to seeking diversified exposure to the broad crypto market. With a total market cap of over $3 trillion, cryptocurrencies represent approximately 1.5% of the … Read more
The U.S. Commodity Futures Trading Commission (CFTC) could have an even stronger Republican majority when the chairman picked by President Donald Trump arrives, with the announcement on Wednesday that Democratic Commissioner Christy Goldsmith Romero will step down after that expected confirmation. If Trump nominee Brian Quintenz, a former Republican commissioner at the agency, is approved … Read more
Having served as the first chief of the SEC’s crypto unit from 2017 to 2019, I’m often asked what kind of crypto enforcement we should expect to see from the new administration. My first answer is that I do not know. My second answer is that I believe it will be different, but it will … Read more
Former U.S. House Financial Services Committee Chair Patrick McHenry (R-N.C.), who retired in January, has joined Andreessen Horowitz (a16z) as a senior advisor. McHenry announced his new role at the Silicon Valley-based venture capital firm in a Wednesday X post. McHenry was the acting Speaker of the House for a few weeks in 2023 after … Read more
While spot bitcoin exchange-traded funds yesterday registered their largest-ever daily outflow as investors pulled out nearly $1 billion, spot gold ETFs continue to see large inflows, a potential boon for gold-backed cryptocurrencies. Physically-backed gold ETFs last week saw their largest weekly inflow since March 2022, according to data from the World Gold Council, which showed … 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 2814.47, down 1.6% (-46.85) since 4 p.m. ET on Tuesday. Ten of 20 assets are trading higher. Leaders: LTC (+7.9%) and ICP (+2.2%). Laggards: SOL (-5.6%) and UNI (-4.3%). … Read more
Delta Blockchain Fund founder Kavita Gupta is fronting a new startup called Inclusive Layer, designed to help people build blockchain applications on multiple chains without deep coding expertise. The product aims to abstract away technical friction and create liquidity aggregation between Ethereum, Solana, Base, Polygon or Arbitrum, according to a press release. The first app … Read more
Tokenized real-world assert (RWA) issuer Ondo Finance has joined the Mastercard network that connects financial institutions with businesses to improve cross-border payments. Ondo’s Short-Term U.S. Government Treasuries Fund (OUSG) investment product will be available to businesses on Mastercard’s Multi-Token Network (MTN), giving them access to yield via tokenized assets, according to an emailed announcement on … Read more
The Avalanche Foundation, the non-profit that helps steward the development of the Avalanche blockchain, said its much-anticipated Avalanche Card, a Visa credit card that allows users to purchase items with their cryptocurrency, is live and ready to be used. The card was developed in collaboration with Rain, a blockchain-based card issuing platform. It enables users … Read more
Fundamental investors tracking XRP have more reason to cheer as a planned set of features aims to make the XRP Ledger, the network underpinning that token, even more appealing for institutional usage. XRP prices are up 2.2% in the past 24 hours, outperforming a 1.1% decline in bitcoin following Tuesday’s market carnage. Ripple said in … Read more
By Omkar Godbole (All times ET unless indicated otherwise) The crypto market is looking to regain some poise after yesterday’s tumble with on-chain indicators showing signs of capitulation in bitcoin. Some tokens, like MakerDAO’s MKR, stand out with a 20% gain in 24 hours, thanks to the DAO’s buyback and burn process. IP, the native … Read more
Jeremy Allaire, co-founder and CEO of stablecoin issuer Circle, says companies issuing digital tokens pegged to the dollar should be registered in the U.S. “It shouldn’t be a free pass, right?” Allaire said in an interview with Bloomberg. “Where you can just ignore the U.S. law and go do whatever the hell you want wherever … Read more
Approximately $5 billion in bitcoin (BTC) options contracts are set to expire on Deribit this Friday at 08:00 UTC, adding to an already volatile crypto market. Bitcoin’s prolonged consolidation had kept Deribit’s volatility index (DVOL) in a downward trend throughout 2025. However, after bitcoin’s sharp decline, DVOL spiked to 52 before retreating back below 50—signaling … Read more
Crypto traders are likely still reeling from Tuesday’s market carnage, but bullish bets on two altcoins are paying off handsomely. Intellectual property upstart Story’s IP is up nearly 40%, beating a 5.20% rally in major tokens tracked by the broad-based CoinDesk 20, while on-chain exchange Hyperliquid’s HYPE is up 15%. Monitoring outperforming tokens during a … Read more
Genesis Digital Assets Limited (GDA) is expanding its bitcoin (BTC) mining operations in West Texas with a 50-megawatt (MW) energization increase across its Pyote and Vernon sites. GDA is a private company with offices in the United Arab Emirates and the United States, with a total power capacity of over 600 MW. While the company … Read more
Payments-focused cryptocurrency XRP is down but not out, whereas the outlook for dogecoin (DOGE) appears grim, based on an analysis of Fibonacci retracement levels. XRP reached a peak of $3.40 in mid-January and has since entered a downtrend, with the price dropping 25% this month to $2.28, according to data from TradingView and CoinDesk. While … Read more
The crypto market experienced a severe downturn on Tuesday, and according to many on-chain metrics marked a bottom in bitcoin’s (BTC) price. The total crypto market capitalization hovered just above $2.7 trillion—marking a nearly $1 trillion wipeout since its peak in December 2024, according to TradingView data. Several indicators suggest that Tuesday’s sell-off may have … Read more
Cathie Wood’s investment management company ARK Invest snapped up $8.7 million of Coinbase (COIN) shares on Tuesday as the rout in the cryptocurrency saw crypto equities slide. ARK added 41,032 COIN shares to its Next Generation Internet ETF (ARKW), as the crypto exchange’s stock fell nearly 6.5% on the day to $212.49. Meanwhile, ARK sold … Read more
The GitHub code you use to build a trendy application or patch existing bugs might just be used to steal your bitcoin (BTC) or other crypto holdings, according to a Kaspersky report. GitHub is popular tool among developers of all types, but even more so among crypto-focused projects, where a simple application may generate millions … Read more
Tuesday was a rough day for the crypto market, as bitcoin (BTC) fell to three-month lows below $87,000, dragging the broader market down. More importantly, investors withdrew funds from U.S.-listed spot bitcoin exchange-traded funds (ETF) at an unprecedented rate. The 11 spot ETFs registered a cumulative net outflow of $937.78 million, the most significant single-day … Read more
Bitcoin (BTC) neared $89,000 in Asian morning hours after a 24-hour low of $86,200, slightly improving market sentiment with major tokens showing signs of a recovery. XRP and BNB Chain’s BNB led a gradual majors rebound Wednesday as traders continue to reel from Tuesday’s carnage — one that saw overall capitalization drop as much as … Read more
Confidential protocols put in place to deal with news of regulatory failings by one of the top-five crypto exchanges, OKX, suggest that the company likely has been expecting a settlement with U.S. authorities for some time. This happened on Monday when OKX announced a $500 million-plus settlement with the U.S. Department of Justice after failing … Read more
Michael Novogratz’s Galaxy Digital (GLXY) has hired Zac Prince as a managing director, according to an internal memo seen by CoinDesk. Prince will be working closely with Galaxy’s President, Chris Ferraro, to expand the company’s digital assets offering. Galaxy believes that crypto is entering a “pivotal era of transformation,” and has hired Prince to help … Read more