Artificial intelligence (AI) firm CoreWeave is planning to file for a public listing in the U.S. within a week, according to a Bloomberg report. The cloud computing firm wants to raise around $4 billion from the listing, the report said, citing people familiar with the matter. It is targeting a valuation of over $35 billion, … Read more
Stablecoins and the role of Congress in addressing future digital assets legislation took center stage during one of the Senate Banking Committee’s first hearings to focus on what a regulatory framework for crypto may look like. The Wednesday hearing, framed as the jumping-off point for further Congressional action on digital asset regulations, was the first … Read more
The U.S. Securities and Exchange Commission (SEC) might be done with Gemini, but Gemini isn’t done with the SEC. According to a Wednesday X post from Gemini co-founder and President Cameron Winklevoss, the SEC informed Gemini on Monday that it was closing its investigation into the New York-based crypto exchange and would not be filing … Read more
Cryptocurrency exchange Bybit has published a forensic review on last week’s $1.5 billion hack, revealing that its systems had not been infiltrated and that the issue seemed to have stemmed from compromised Safe wallet infrastructure. Bybit concluded from the review that “the credentials of a Safe developer were compromised,” which allowed the Lazarus hacking group … Read more
Welcome to The Protocol, CoinDesk’s weekly wrap-up of the most important stories in cryptocurrency tech development. I’m Ben Schiller, managing editor at CoinDesk. In this issue: Ethereum’s Pectra upgrade Goes Live Avalanche Visa card launched Ethereum Foundation executive director leaving Hackers using GitHub to steal bitcoin Network News PECTRA GOES LIVE ON TESTNET: Ethereum’s Pectra … Read more
Core Scientific (CORZ) stock surged more than 11% after-market on Wednesday after the data center and bitcoin mining company said it was planning a $1.2 billion expansion of a data center in Denton, Texas, with CoreWeave, to support artificial intelligence (AI) and high-performance cloud computing (HPC). “The 70 MW [megawatt] of additional contracted power at … Read more
Bitcoin miners that are still drawing electricity from grid-attached power sources will struggle after the next halving event in 2028, MARA Holdings (MARA) said in a shareholder letter. “For those miners still relying on grid-attached power, the writing is on the wall. Energy costs will only rise. The 2028 halving will likely force another industry-wide … Read more
The U.S. Securities and Exchange Commission, the Tron Foundation and Justin Sun filed a joint motion Wednesday asking a federal judge to pause the securities regulator’s ongoing case against the crypto entrepreneur and his company. The motion is similar to motions filed in the SEC’s ongoing cases against Coinbase and Binance. In both cases, the … Read more
The U.S. Court of Appeals for the Second Circuit issued a ruling on Wednesday largely agreeing with a lower court’s 2023 decision to toss out a class action suit against decentralized exchange Uniswap. A group of investors originally sued Uniswap Labs, the company behind the decentralized protocol of the same name, and some of its … Read more
Gotbit founder Aleksei Andriunin, a 26-year-old Russian national, was extradited to the U.S. on Tuesday to face fraud charges stemming from allegations that his firm participated in a “wide-ranging conspiracy” to manipulate token prices for paying client cryptocurrency companies, the U.S. Department of Justice said in a press release on Wednesday. Andriunin was arrested in … Read more
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