Bitcoin (BTC) managed to put in a modest rally early in the U.S. trading session on Friday, but the move was quickly snuffed out. Are bulls lightening up positions ahead of the weekend? They could be forgiven for doing so. In his Friday note, Standard Chartered’s Geoff Kendrick said bitcoin’s price has now declined for … Read more
Leading stablecoin issuer Tether announced earlier today it has invested in Italian football club Juventus FC, leading to a massive price rise not only for the club’s crypto fan token JUV, but also for other crypto fan tokens. The price of Juventus Fan Token surged more than 200% before seeing a correction that brought the … Read more
Crypto exchange Bybit is no longer illegally operating in France in the eyes of the country’s financial regulator, its CEO said Friday. The exchange was on France’s regulatory blacklist for more than two years, Ben Zhou, the CEO of Bybit, said in an X post on Friday. “After more than two years of working with … Read more
The Securities and Exchanges Commission (SEC) has set itself a deadline for a decision on whether it will allow an exchange-traded fund (ETF) tracking the price of XRP (XRP). The SEC acknowledged a 19b-4 filing by the New York Stock Exchange (NYSE) and asset manager Grayscale, which is the first time it has responded to … 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 3298.82, up 2.9% (+92.48) since yesterday’s close. Nineteen of 20 assets are trading higher. Leaders: XRP (+9.4%) and XLM (+6.1%). Laggards: APT (+0.0%) and ADA (+0.3%). The CoinDesk 20 … Read more
Tether, the cryptocurrency firm behind the $140 billion USDT stablecoin, said on Friday it has invested in Italian football club Juventus FC (JUVE). The firm’s investment arm, Tether Investments, acquired a minority stake in the sports club, according to a press release shared with CoinDesk. Juventus FC shares, which are publicly traded on the Italian … Read more
Gaorong Ventures, a prominent Chinese venture capital firm known for its early backing of internet giants in the country, has invested $30 million into the operator of Hong Kong’s largest licensed crypto exchange, HashKey Group, according to a Bloomberg report. The backing came at a pre-money valuation of over $1 billion, according to the report. … Read more
By James Van Straten (All times ET unless indicated otherwise) Bitcoin (BTC) continues to climb the wall of worry, pushing above $97,000 despite hotter-than-expected U.S. consumer and producer price inflation reports in the past couple of days. That’s a surprise. With prices rising and the likelihood of a Fed rate cut receding, you’d expect risky … Read more
Short-term bitcoin (BTC) holders (STHs) have added 1.5 million bitcoin (BTC) since September taking the total to over 4 million bitcoin, according to Glassnode. This equates to an average accumulation of approximately 300,000 BTC per month. During this period, bitcoin surged from $60,000 to $109,000 before pulling back below $100,000. Glassnode defines STHs as those … Read more
Coinbase (COIN) finished 2024 with very strong business momentum as sentiment about the wider digital asset industry improved, broker JMP said in a research report on Thursday after the crypto exchange’s fourth quarter results. JMP raised its Coinbase price target to $475 from $400 and reiterated its market outperform rating. The shares dropped 1.3% to … Read more
Remixpoint (3825), a Japanese energy consulting firm that decided build up cryptocurrency reserves, boosted its holdings by more than 8,000% in the nine months ended Dec. 31 and is now close to having spent its target of 10 billion yen ($65 million). The Tokyo-based company held 5.8 billion yen ($38 million) of crypto at year-end, … Read more
Alternative cryptocurrencies, or altcoins, made waves Friday as XRP and dogecoin (DOGE) drew strength from spot ETF optimism and Solana-based decentralized exchange Jupiter’s JUP token cheered the platform’s buyback program. The U.S. Securities and Exchange Commission (SEC) has acknowledged Grasycale’s applications for XRP and dogecoin (DOGE) spot ETFs, Fed. 13 updates by the market regulator … Read more
Historical trends tied to a key indicator suggest that bitcoin (BTC) has plenty of upside left as renewed inflation in the U.S. threatens to challenge the current uptrend. The 200-week simple moving average (SMA) of bitcoin’s price, which smooths out short-term market fluctuations to provide a clearer picture of the overall trend, stood at $44,200 … Read more
Story Protocol launched its intellectual property-focused blockchain and associated IP token on Thursday. The blockchain is positioned as the “world’s intellectual property network,” providing users with a way to register their IP and track how others use it. The aptly named “$IP” token, which Story announced last week, is used for transaction fees and offers … Read more
Life comes at you fast. Memecoin cycles… even faster. Such was the gwei on a bloody Thursday in the memecoin trenches. The trend of the day was Changpeng Zhao’s dog. The former Binance CEO said on X that he would tweet its name and photo, knowing full well that the simple act would fuel opportunistic … Read more
Coinbase (COIN) topped already strong estimates for fourth quarter results, posting a 138% year-over-year gain in revenue amid the major bull move in crypto surrounding the November election of Donald Trump. The leading U.S. crypto exchange posted fourth quarter revenue of $$2.27 billion against consensus $1.84 billion and $1.26 billion three months prior. Adjusted earnings … Read more
The co-founders of Hashflare, a crypto mining ponzi scheme that stole $577 million from hundreds of thousands of investors around the world, both pleaded guilty on Wednesday to conspiracy to commit wire fraud. Sergei Potapenko and Ivan Turõgin, both 40, were arrested in their native Estonia in November 2022 and extradited to the U.S. on … Read more
Last November, the American people clearly spoke. They support President Trump and the agenda he campaigned on: A “Golden Age” in America. A key component of President Trump’s agenda is leveraging the U.S.’s leadership in advanced technology and economic strength for the benefit of all Americans. Nowhere is this renewed focus on using our strengths … Read more
MetaDAO’s push to revolutionize governance via markets-based decision-making is getting a boost from the creator of its creed: Robin Hanson. The crypto group on Thursday hired Hanson – a George Mason University economics professor who created the notion of futarchy a quarter century ago – as a paid advisor. His addition gives an intellectual and … Read more
Nasdaq-listed Zoom Communications (ZM), a stock market high-flyer during the pandemic boom that’s faced tougher times since, should embrace a bitcoin (BTC) strategy to shake up sluggish stock performace and provide value to shareholders, said Eric Semler, chairman of medical technology firm Semler Scientific (SMLR). “Once a pandemic darling, Zoom is now stuck in a … Read more
Crypto isn’t all that different from politics. According to Rushi Manche, the founder of blockchain company Movement, “Crypto is an attention game.” It’s fitting, then, that Donald Trump — the master of all things attention — is so at home selling memecoins. But it’s not just Trump’s inner circle that’s managed to capitalize on his … Read more
Crypto scammers may have pocketed as much as a record $12.4 billion last year fueled, in part, by growth of so-called pig-butchering schemes, blockchain analytics firm Chainalysis said. Fraudsters’ revenue from such schemes, in which they build up victims’ trust before convincing them to make fraudulent crypto investments and named after the practice of fattening … Read more
Which market offers the most favorable environment for virtual assets? This distinction remains highly contested, with various financial centers competing to become leading hubs for digital assets, aiming to attract innovation, investment and jobs. In Asia, two of the most prominent players in this space are Hong Kong and Singapore. Hong Kong’s regulatory environment will … Read more
In today’s issue, we get ready for tax time as Anthony Tuths from KPMG provides an overview of crypto tax preparation and the rules to follow. Then, Layne Nadeau from NVAL answers questions about taxes and NFTs in Ask and Expert. – Sarah Morton Tax time – What You Need To Know About Crypto Taxes … Read more
Plasma, a crypto startup building a Bitcoin-based blockchain designed specifically for stablecoins, raised $20 million to further its development, the company said on Thursday. The fundraising round was led by Framework Ventures and will support Plasma’s testnet and mainnet launches, as well as its expansion into remittances, payments and DeFi applications, the team said. The … Read more
South Korea’s Financial Services Commission (SFC) plans on lifting a ban that prevented institutions trading crypto in response to the upsurge in global participation in the market, it said on Thursday. Non-profit organizations like charities, university and school corporations, law enforcement agencies will be able to sell their virtual assets by the first half of … Read more
USDT issuer Tether could face challenges if proposed U.S. stablecoin regulation is passed, and the company may have to sell some of its reserves to comply with the new rules, Wall Street bank JPMorgan (JPM) said in a research report Wednesday. The Senate’s Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act mandates federal … Read more
This article is part of a four-piece series on El Salvador. You can find the previous dispatch, a story on Bitcoin Berlín, here. Bitcoin City sounds like a modern El Dorado — a dreamlike enclave in the jungle, a 21st century utopia. Announced by El Salvador President Nayib Bukele in 2021, the metropolis will supposedly … Read more
Popular non-fungible token (NFT) marketplace OpenSea said Thursday that it is expanding its platform to crypto trading and confirmed it is planning to distribute SEA tokens to users. The trading platform called OS2 has launched today, and aggregates marketplaces, allows cross-chain purchasing and offers lower fees in the beginning, according to the protocol’s press release. … 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 3191.13, down 1.0% (-32.82) since 4 p.m. ET on Wednesday. Three of 20 assets are trading higher. Leaders: APT (+1.3%) and AAVE (+0.9%). Laggards: NEAR (-3.1%) and AVAX (-2.6%). … Read more