One of Europe’s most valuable startups, Revolut, is exploring a dual listing in London and New York for its blockbuster initial public offering (IPO), the Sunday Times reported, citing a “senior City source.” If it were to proceed, the move could mark the first time a company simultaneously lists in New York and joins London’s … Read more
Crypto credit firm Maple Finance and Elwood Technologies are joining forces to make it easier for large financial institutions to enter digital asset credit markets. The companies announced Monday that Maple’s on-chain lending and asset management platform will link up with Elwood’s execution, portfolio management, and risk tools. Maple, founded in 2021, specializes in structured … Read more
The world of Digital Asset Treasury (DATs) has entered a new era, after Strive (ASST) announced an all-stock deal to acquire Semler Scientific (SMLR) this week. The deal marked the first merger of two publicly traded bitcoin treasuries, and according to a Wall Street banker familiar with the situation, this is just the start of … Read more
Analysts mapped a slow-grind path for bitcoin and flagged $112,000 as the trigger while gold advocate Peter Schiff revived the gold-versus-bitcoin debate by challenging Michael Saylor’s BTC treasury bet for his firm. CoinDesk Senior Analyst James van Straten said bitcoin’s market structure has shifted alongside gold’s repricing. He expects a slow, stair-step advance supported by … Read more
Stablecoin giants like Tether and Circle are profiting from the current high-interest rate environment while stablecoin holders see none of the returns, said Wormhole’s co-founder, Dan Reecer, at Mercado Bitcoin’s DAC 2025 event. Speaking as a panelist, he said the companies are effectively “printing money” by keeping the yield from the U.S. Treasuries backing their … Read more
Crypto treasury firms that stockpile tokens could evolve from speculative wrappers into long-run economic engines for blockchains, argues Syncracy Capital co-founder Ryan Watkins. Digital asset treasury (DAT) firms are publicly traded companies that raise capital to acquire and manage crypto on their balance sheets. In a Sept. 23 blog post and an accompanying thread on … Read more
Strive Asset Management (ASST) has acquired Semler Scientific (SMLR) in an all-stock deal. While historic, the move also drew attention to what may be a problem for investors valuing bitcoin treasury firms. The acquisition was the first-ever merger between two Digital Asset Treasuries (DATs) holding bitcoin, giving the combined company control of more than 10,900 … Read more
James Wynn, the pseudonymous trader behind a billion-dollar bitcoin (BTC) bet earlier this year, is back. This time, Wynn is making a leveraged play on ASTER just days after being liquidated on the same token. Wynn has opened a new 3x leveraged long on ASTER, the native token of the emerging Aster perpetuals exchange, worth … Read more
Bitcoin (BTC) just ended what is historically the largest cryptocurrency’s third-worst week of the year with a greater-than-average drop of 5%. Week 38 effectively closes out the third quarter, which is up about 1%, as well as September, which has managed to hold flat. While the figures are consistent with the period’s historical reputation as … Read more
Debates over Bitcoin’s future are nothing new, but this week the discussion took on a sharper edge. One of Bitcoin’s long-serving developers was at the center of a storm about immutability, censorship and what it means to “save” the protocol. The controversy escalated on Sept. 25, following an article published by The Rage claiming to … Read more
China is reportedly making a bid to expand its influence in global gold markets by offering to hold foreign central bank reserves within its borders. According to Bloomberg, the People’s Bank of China has used the Shanghai Gold Exchange in recent months to pitch central banks in friendly countries on the idea. At least one … Read more
Crypto mining firm TeraWulf (WULF) is planning to raise $3 billion in debt to expand its data center operations in a deal supported by Google, as the AI infrastructure arms race intensifies. The company, Bloomberg reports citing TeraWulf CEO Patrick Fleury, is working with Morgan Stanley to arrange the funding, which could launch as early … Read more
Some of crypto’s momentum in Washington D.C. has stalled, a situation that may become worse if the U.S. government shuts down next week. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions. Slowing but not stopping The narrative The U.S. … Read more
Corporate clients, mainly small and medium enterprises, account for between 10% and 15% of all assets under custody on Mercado Bitcoin, Brazil’s largest crypto exchange, according to Daniel Cunha, the firm’s head of corporate development. “These companies barely move more than 10% of their holdings at any given time,” Cunha told CoinDesk in an interview … Read more
MGX, a fund backed by Dubai’s ruling family, will take a 15% stake in TikTok’s U.S. business as part of a restructuring meant to increase American control of the popular video app, the Washington Post reported Friday. The investment, led by Sheikh Tahnoon bin Zayed Al Nahyan, brings MGX into a partnership with Oracle, the … Read more
The United Nations leaned into blockchain technology to overhaul its own pension system, and a study of that process concluded the innovation is the “ultimate technology for digital identity verification,” which has spurred the UN toward extending the system and sharing it with other international groups. The UN — which has explored various blockchain uses … Read more
Crypto markets modestly bounced on Friday with bitcoin (BTC) back above $110,000. Ethereum’s ether (ETH) outperformed with a 3.8% gain to cross $4,000, while dogecoin (DOGE) rose 3.4% and Solana (SOL) added 2.5%. The cautious bid came as fresh inflation data landed squarely in line with forecasts. The Fed’s preferred measure of prices, the Personal … Read more
Tech-focused investment companies SoftBank and Ark Invest are among the firms in early stage talks to invest in Tether, issuer of the world’s largest stablecoin USDT (USDT), Bloomberg reported on Friday. The report follows this week’s news about Tether looking to raise up to $20 billion in a fundraising round that would value the firm … Read more
Avalanche’s native token AVAX fell 8% over the past 24 hours to $27.72, extending a weeklong slide that erased nearly 18% of its value. The drop occurred alongside a broad plunge in crypto markets that’s seen ETH, SOL, DOGE also post double-digit percentage declines over the past week and BTC fall 6%. AVAX has struggled … Read more
A “Baby Shark” token hyped last week as officially representing the most viewed video on YouTube, slumped 90% after the issuing platform said the company minting the memecoin belatedly realized it didn’t have the authority to do so. The token tumbled to under 0.064 cents from Tuesday’s 35 cents high on Story Protocol, a layer-1 … Read more
Riot Platforms (RIOT) picked up back-to-back upgrades from Wall Street on Friday, with JPMorgan and Citigroup both raising their outlooks on the bitcoin miner amid changing industry economics and a shift toward high-performance computing. JPMorgan boosted Riot to overweight from neutral and raised its price target to $19 from $15, calling it the most attractive … Read more
Native token of oracle network Chainlink (LINK) has sunk to its weakest price since early August, giving up past weeks’ gains amid broader crypto market weakness. LINK dipped briefly below $20 multiple times overnight from Thursday to Friday, declining around 4% over the past 24 hours and down nearly 28% from the August highs. The … Read more
Cipher Mining (CIFR) priced a $1.08B private offering of a 0.00% convertible senior notes due 2031, upsized from $800M initially. The notes, senior unsecured obligations, are convertible at an initial price of $16.03 per share, a 37.5% premium to Thursday’s $11.66 close. Investors may require repurchase in 2029 at par, while Cipher can redeem starting … 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 3816.51, down 1% (-38.03) since 4 p.m. ET on Thursday. None of the 20 assets are trading higher. Leaders: ETH (-0.2%) and ICP (-0.3%). Laggards: AVAX (-7.1%) and NEAR … Read more
Popular cryptocurrency exchange Kraken closed a $500 million funding round, setting the stage for a long-awaited IPO now expected in 2026, Fortune reported. The round did not feature a lead investor and was closed on Kraken’s terms valuing the firm at $15 billion, Fortune said, citing a person who was not authorized to discuss the … Read more
The crypto market is a sea of red, with the CoinDesk 20 Index down 5% in 24 hours and all members lower. Most major tokens continue to see capital outflows from futures market and persistent bias for protection against declines in the form of put options tied to bitcoin (BTC) and ether (ETH) on Deribit. … Read more
Pig butchering, a form of romance fraud in which victims are groomed into sending money to fake crypto investment schemes, has grown into a multibillion-dollar industry, according to blockchain analytics firm Elliptic’s 2025 Typologies Report. The study points to increasingly organized methods of laundering stolen funds using practices that resemble professional financial operations. Elliptic’s investigators … Read more
By Omkar Godbole (All times ET unless indicated otherwise) It’s not been a happy 24 hours for crypto bulls, with the CoinDesk 20 Index dropping 5% and market leaders bitcoin (BTC) and ether (ETH) falling nearly 2%. Major altcoins such as XRP, BNB and SOL lost even more, and ASTR, the native token of Aster … Read more
Cryptocurrency adoption in emerging markets poses risks to monetary sovereignty and financial resilience, credit ratings giant Moody’s Ratings said in a report on Thursday. The risks are most acute in areas where crypto’s use extends beyond investment into savings and remittances, according to the report. Moody’s suggests that higher penetration of stablecoins pegged to the … Read more
Michael Egorov, founder of Curve Finance, has launched Yield Basis, a decentralized protocol built to provide sustainable bitcoin (BTC) yield while eliminating impermanent loss (IL), one of decentralized finance’s longest-running challenges. Bitcoin holders have long faced limited opportunities for on-chain returns. Lending markets rarely offer more than a fraction of a percent, while automated market … Read more