Cryptocurrencies bounced on Monday with bitcoin (BTC) rallying towards $100,000 as concerns over a full-blown trade war significantly subsided with Mexico reaching an agreement with U.S. President Donald Trump. Mexico President Claudia Sheinbaum said on Monday that the government will deploy 10,000 troops on the U.S. border to stop illegal arms and drug trafficking. She … 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 3112.63, down 17.1% (-641.58) since 4 p.m. ET on Friday. None of the 20 assets are trading higher. Leaders: BTC (-6.8%) and SOL (-14.8%). Laggards: FIL (-33.9%) and AAVE … Read more
Havoc in crypto markets spread to stocks of crypto-focused companies, with losses in U.S. futures pointing to declines in equities that are likely to put bitcoin (BTC) on track for further losses because it tends to mirror movements of U.S. stock markets. S&P 500 futures slid 1.4%, Dow Jones futures fell 1.2% and futures on … Read more
By Omkar Godbole (All times ET unless indicated otherwise) Crypto markets are a sea of red alongside a growing risk aversion in traditional markets, and Trump’s tariffs are to blame. Late Friday, the president imposed a 25% tariff on imports from Canada and Mexico and 10% on China, provoking retaliatory measures that have reignited a … Read more
THORChain’s members passed “Proposal6” to convert nearly $200 million of unserviceable debt into equity via a new token, TCY (Thorchain Yield), with a total supply of 200 million tokens. This action was taken after suspending THORFi services on Jan. 23 due to financial uncertainties, as CoinDesk reported. TCY tokens will be distributed at a rate … Read more
Crypto exchange Coinbase (COIN) became the largest crypto exchange to operate in the U.K. after securing a spot on the register of the Financial Conduct Authority (FCA), allowing it to offer crypto services in the country for the first time. “It opens up new channels and opens up the ability to launch new products and … Read more
Donald Trump’s decision to levy tariffs may have turned market sentiment linked to his pro-crypto promises, causing a steep drop in bitcoin (BTC) and majors in the past 24 hours. Traders believe Monday’s bloodbath could turn out to be a buy-the-dip opportunity for several reasons, stemming from the eventual growth of and demand for dollar-backed … Read more
Ether (ETH), the second-largest cryptocurrency by market value, witnessed a significant spike in volatility early Monday as the renewed trade war between the U.S. and its trading partners triggered broad-based risk aversion in financial markets. The price of ether tanked as much as 24%, with considerable dislocations across centralized exchanges. On Deribit, the price hit … Read more
A market-wide drop has sent Donald Trump’s TRUMP token spiraling further down in the past 24 hours, bringing losses from the peak to a staggering 75%. TRUMP was issued a couple of days before Trump’s swearing-in ceremony on Jan.20 as the first-ever memecoin officially endorsed by a sitting president. It ran from zero to a … Read more
Premiums of an infamous bitcoin (BTC) trade popularized by Sam Bankman-Fried have popped back to significant levels amid a market bloodbath caused by rising U.S. tariffs, a market sign that some consider bearish in the short term. The so-called Kimchi premium, or the difference in bitcoin prices on Korean exchanges compared to global bourses, rose … Read more
It’s business as usual for Ethena’s USDe as the synthetic stablecoin appeared to weather the storm brought on by market volatility from the White House’s trade war threats. USDe differs from stablecoins such Circle’s USDC because it’s a synthetic stablecoin and not backed by fiat assets at a 1:1 ratio. The stablecoin maintains its $1 … Read more
The Indian government is rethinking its stance on crypto as the global view on digital assets starts to thaw, Reuters reported on Monday. Although crypto is unregulated in India, the country started taxing digital assets in 2022, charging 1% tax-deducted-at-source (TDS) on crypto transactions and introducing a 30% capital gain tax. Since then, the crypto … Read more
Major tokens slumped more than 25% in the past 24 hours as a new wave of tariffs imposed by the U.S. on Canada and Mexico over the weekend birthed talks of a global trade war — souring sentiment for risk assets. XRP, dogecoin (DOGE) and Cardano’s ADA fell more than 25% to reverse all of … Read more
Bitcoin’s (BTC) on-chain options market on Derive.xyz indicates a 22% probability of prices falling to $75,000 by March 28, a notable rise from last week’s 10% chance. The sharp rise in probability follows a renewed import tariff war between the U.S. and its top trading partners, Canada, Mexico and China and concerns it will add … Read more
Major cryptocurrency including bitcoin (BTC), ether (ETH), Solana’s SOL, and XRP were all significantly down as Asia began its trading week. By mid-morning Hong Kong time, BTC was down 8%, trading above $93,100, according to CoinDesk Indices data. Meanwhile, ether (ETH) is down nearly 20%, trading at $2,500, while SOL is down 13% at $184. … Read more
Bitcoin (BTC), the leading cryptocurrency by market value and the only macro asset open for trading over the weekend slipped below $100,000 as Canada joined Mexico in announcing retaliatory import tariffs against the United States. Prime Minister Justin Trudeau said Canada would impose 25% tariffs on U.S. goods, from drinks to appliances, after President Donald … Read more
Following through on threats made throughout his campaign and repeated in the opening days of his presidency, Donald Trump has imposed 25% tariffs on nearly all imports from Mexico and Canada and a 10% tariff on goods from China. The tariffs are effective beginning Tuesday. “The sustained influx of illicit opioids and other drugs has … Read more
The digital asset industry stands at a critical, hopeful juncture. After years of fragmented approaches to regulation and legislation, we’ve reached a moment where clarity is both urgent and achievable. Blockchain Association’s consensus-driven market structure principles, which represent the perspective of the leading companies in the industry, offer a framework for the path forward. The … Read more
It’s deja vu all over again in crypto after a hopeful report on a tariff delay was refuted by the White House. To review, President Trump on Thursday promised to impose 25% tariffs on Mexico and Canada beginning Saturday Feb. 1. Having rallied over $106,000 prior to that news, bitcoin (BTC) quickly reversed 2% lower … Read more
It was another busy week at CoinDesk as the new Trump Administration continued to roll out a pro-crypto agenda and the industry laid the groundwork for growth in the new cycle. Ripple was at the center of the news. Ondo Finance announced it would offer tokenized treasuries on Ripple’s XRP Ledger, Kris Sandor reported. The … Read more
The supply of stablecoins on Solana jumped by 112% in January to a record high of $11.1 billion, CCData (a subsidiary of CoinDesk) said in a research report on Friday. The surge coincided with the launch of Donald Trump’s memecoin $TRUMP, which caused a wave of inflows to the network, according to the report. Stablecoin … Read more
Evgeny Gaevoy began his career in traditional finance, specializing in market making and prop trading. But by 2016, seeing the inefficiencies of legacy financial systems and the potential for disintermediation, Gaevoy realized there was an opportunity to create something entirely new and better. With experience building up foreign exchange firm Optiver’s European ETF business — … Read more
Tether, the crypto company behind the largest stablecoin USDT, said on Friday it generated $13 billion group-wide net profits last year in a record-breaking year. Some $7 billion of the profits derived from the firm’s vast U.S. Treasuries and repo holdings, and $5 billion from unrealized appreciation of the company’s gold and bitcoin (BTC) holdings. … 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 3868.63, up 0.4% (+16.75) since yesterday’s close. Fifteen of 20 assets are trading higher. Leaders: LINK (+4.6%) and ETH (+3.2%). Laggards: XLM (-3.2%) and XRP (-0.9%). The CoinDesk 20 … Read more
Swiss banking giant UBS said that it completed a proof-of-concept of its UBS Key4 Gold offering on the Ethereum layer-2 network ZKsync. The simulation, which was conducted on a ZKsync test network, is a sign of renewed interest in blockchain technology among traditional financial institutions. This isn’t UBS’ first experiment with blockchain. The bank previously … Read more
Grayscale has rolled out a new trust offering exposure to dogecoin (DOGE), the asset manager announced Friday. “Dogecoin represents a paradigm shift in global financial accessibility,” Grayscale’s head of product & research, Rayhaneh Sharif-Askary, told CoinDesk. “Its low transaction costs and rapid transfer speeds make it an optimal vehicle for international remittances, particularly in regions … Read more
A clawback amendment went live on XRP Ledger earlier Friday following a validator vote with more than 90% in favor. The amendment means Ripple’s dollar-pegged stablecoin RLUSD, a clawback token, can be floated and exchanged directly on XRP Ledger’s DEX, enhancing its liquidity and trading options and likely boosting decentralized finance (DeFi) activity on the … Read more
By Omkar Godbole (All times ET unless indicated otherwise) The crypto market is treading water and the biggest cryptocurrency, bitcoin, is taking a bull breather. Its upward momentum is getting stifled by Trump’s renewed tariff threats, which are also sending gold prices soaring to record highs and propping up demand for the U.S. dollar. But … Read more
As it stands, January is tied as the second-best performing month for bitcoin (BTC) in the past ten months, surpassed only by November 2024, which saw a 37% surge in price after President Trump’s victory in the U.S. election. It shares second-place with May 2024, both recording an 11% gain, according to Coinglass data. On … Read more
The market capitalization of stablecoins just pierced $200 billion, reaching a record height in a sign the crypto market may be poised for further growth, according to CryptoQuant. Stablecoins are digital tokens whose value is tied another asset, typically the U.S. dollar, to provide, as the name suggests, a stable price. They are used by … Read more