CoinDesk

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

The U.S. Securities and Exchange Commission (SEC) has dropped its investigation into Uniswap Labs, the Brooklyn-based company behind the decentralized protocol of the same name, according to a Tuesday announcement from Uniswap. Uniswap received a Wells notice — essentially, a heads-up from the regulator informing respondents of the charges the SEC is planning to bring against … Read more

Hacked cryptocurrency exchange Bybit has declared a “war against Lazarus” and launched a new website tracking the group’s wallet addresses, hoping to crowdsource the investigative efforts. In return for submissions that lead to frozen funds, the exchange is offering 5% of what gets frozen. The declaration of “war” came from Bybit’s CEO, Ben Zhou, in … Read more

Ethereum Foundation Executive Director Aya Miyaguchi shared Tuesday that she would be leaving her position and would soon be transitioning to her new role as president at the organization. The news comes as the nonprofit goes through a leadership shake-up and as Ethereum has become less popular for new builders in recent months, with some … Read more

Bitdeer Technologies Group (BTDR) said its fourth-quarter net loss widened to $531.9 million from $5 million in the year-earlier quarter. The Singapore-based bitcoin (BTC) mining company attributed the expenses to strategic investments in developing its proprietary ASIC mining rigs. “While our focus on ASIC development temporarily limited hashrate expansion, we made significant progress in strengthening … Read more

Matt Cole, CEO of Strive Asset Management—an investment firm co-founded by Vivek Ramaswamy—has urged GameStop to adopt bitcoin as a reserve asset. Cole sent a letter to Ryan Cohen, Chairman and CEO of GameStop (GME), on Feb. 24. According to Cole, GameStop has a unique opportunity to redefine itself as a market leader with its … Read more

Cryptocurrency-focused asset manager Bitwise has completed a $70 million equity raise led by crypto venture firm Electric Capital. The raise also included participation from MassMutual, Highland Capital, MIT Investment Management Company, Haun Ventures and ParaFi Capital, Bitwise announced on Tuesday. The firm plans to use proceeds from the raise to bolster its balance sheet, expand … Read more

Starknet, a layer-2 on top of Ethereum, is getting its first application-chain that settles on the network. The layer-3 app-chain, called Nums, is built off of the “SN Stack,” a customizable toolkit that lets developers create layer-3 blockchains based off of Starknet’s technology. Nums itself is an on-chain game that lets players try to sequence … Read more

“I wouldn’t even be in this situation if it wasn’t for you. You brought down so much f—ing heat on me.” — Robert De Niro as Ace Rothstein to Joe Pesci’s Nicky Santoro in Martin Scorsese’s Casino. Bitcoiners could be forgiven for blaming the rest of crypto for the bear move that took the price … Read more

“Build for where the industry is going, not for where it is.” This mantra has fueled disruptive innovations for decades — Microsoft capitalized on microprocessors, Salesforce leveraged the cloud and Uber thrived in the mobile revolution. The same principle applies to AI — Generative AI is evolving so rapidly that building for today’s capabilities risks … Read more

The team behind real-world asset (RWA)-focused layer-1 blockchain Mavryk Network, said it raised $5.2 million to advance its plans to integrate tokenization and decentralized finance (DeFi). The investment round was led by Ghaf Capital, Big Brain, MetaVest Capital, Cluster Capital, Collective Ventures and Atlas Fund, according to an email shared with CoinDesk on Tuesday. Mavryk … Read more

Crypto investment firm Multicoin is leading an $8 million purchase of GEOD tokens, a major capital injection into the crypto project building a hyper-accurate alternative to GPS. Geodnet hails from crypto’s buzzy DePIN wing of startups that financially incentivise regular people to host their physical infrastructure. The project’s token (its incentive mechanism) has more than … Read more

Grayscale Investments, a crypto asset-management company looking to add XRP and Cardano exchange-traded funds to its offerings, is now starting down the route for an ETF investing in Polkadot’s DOT token as well. Nasdaq has filed a formal Form 19b-4 request with the U.S. Securities and Exchange Commission (SEC) to list and trade shares of … Read more

Anyone paying attention to public bitcoin miner markets will know that artificial intelligence (AI) and business pivots to high performance compute (HPC) are all the rage among bitcoin miners. What started as a gradual trend last year has suddenly become a business strategy that many leading public bitcoin miners are exploring. This article first appeared … 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 2822.97, down 7.2% (-218.33) since 4 p.m. ET on Monday. None of the 20 assets are trading higher. Leaders: APT (-3.8%) and DOT (-4.7%). Laggards: HBAR (-12.0%) and AAVE … Read more

Circle’s stablecoin’s USDC and EURC got approval for use and promotion within the Dubai International Financial Centre, the company said in a statement on Monday. The Dubai Financial Services Authority (DFSA) approved USDC and EURC as recognized crypto tokens within the DIFC, the statement said. “With this approval, financial institutions and fintechs operating in the … Read more

By Omkar Godbole (All times ET unless indicated otherwise) The crypto market is a sea of red, with bitcoin trading at three-month lows under $88,000 and the CoinDesk 20 Index down more than 10% in 24 hours. There are several catalysts for the swoon, including risk-off sentiment in traditional markets and influence from memecoins, especially … Read more

Crypto traders are buying bitcoin (BTC) on Kraken, one of the 10 biggest cryptocurrency exchanges, as the price slides to a three-month low, Alexia Theodorou, head of derivatives told CoinDesk. BTC dropped under $88,000 shortly before publication as Nasdaq futures pointed to continued risk aversion on Wall Street and the yen, a haven during times … Read more

Ether’s (ETH) 11.5% slide over the past 24 hours has moved the second-largest cryptocurrency closer to a series of mammoth $340 million liquidations on collateralized debt platform MakerDAO. On-chain data shows three MakerDAO positions will be liquidated when the ETH price hits $1,926, $1,842 and $1,793. Each position is worth between $109 million and $126 … Read more

Crypto traders are feeling the jitters today. The widely-watched Crypto Fear and Greed Index, a market indicator that uses social media posts, volatility, trends and prices to gauge trader sentiment, dropped to a five-month low of 25 in its latest update. That’s a big fall from yesterday’s figure of 49, landing it in the “extreme … Read more

U.S. spot-listed bitcoin (BTC) exchange-traded funds (ETFs) experienced the second-biggest outflows of the year on Monday, dropping $516.4 million, Farside data shows. The withdrawals, the ninth net outflow in 10 days, reflect a growing discomfort with the largest cryptocurrency, which has traded in a narrow price range between $94,000 and $100,000 for most of this … Read more

Crypto bulls nursed at least $1.2 billion in losses over the past 24 hours as the market slump from Monday worsened during the Asian hours on Tuesday, driving bitcoin (BTC) to under $89,000, its lowest since mid-November. Apart from Bybit, crypto exchanges report only one liquidation per second, meaning the overall losses are much higher … Read more

Bitcoin (BTC) dipped below $89,000 during Tuesday’s early European hours as Nasdaq futures pointed to continued losses in technology stocks and strength in the Japanese yen sparked fears of an August-like risk aversion. The leading cryptocurrency hit a low of $88,500, a level last seen in mid-November, CoinDesk data shows. The losses follow recent reluctance … Read more

Ethena Labs has integrated Chaos Labs’ data authenticity technology, Edge Proof oracles, to strengthen the risk management framework for its synthetic dollar token USDe. Edge oracles will independently verify the total dollar value of the USDe’s reserves and the reserve coverage of USDe’s supply and confirm that reserves are governance-approved and delta-neutral. Chaos Labs shared … Read more

Bitcoin (BTC) dipped below $92,000 during the overnight trade, revisiting levels that have proven resilient multiple times since December. However, the latest move comes with a notable uptick in perpetual futures open interest and price action that indicates seller dominance. The number of open futures bets or open interest in the BTC/USDT pair trading on … Read more

Crypto majors slid as much as 14% in the past 24 hours as a Monday sell-off extended into Tuesday amid generally bearish sentiment and the lack of actionable catalysts that may help support the market. Solana’s SOL fell 14% — bringing 7-day losses to over 20% — while dogecoin (DOGE), xrp (XRP) and ether (ETH) … Read more

The token associated with defunct crypto exchange FTX surged briefly Monday night after Sam Bankman-Fried, the founder and onetime CEO of the platform tweeted for the first time in two years. Bankman-Fried, who was convicted on seven different counts of fraud and conspiracy in November 2023, is serving out a 25-year prison sentence. He’s currently … Read more

Solana’s dominant automated market maker (AMM) Raydium hit back Monday on rumors that major volume driver Pump.Fun was preparing to launch its own AMM. Abandoning Raydium whole hog would be a “strategic miscalculation” for the massively popular — and profitable — memecoin factory, core contributor InfraRAY said in a post on X. He cast doubt … Read more