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Showing posts from June, 2024Show all
U.S. Judge Lets Most of SEC Case Against Binance Proceed, Dismisses Secondary Sales Charge A federal judge ruled the SEC had plausibly alleged Binance, Binance.US and Changpeng Zhao violated federal securities laws. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
U.S. Treasury Issues Crypto Tax Regime For 2025, Delays Rules for Non-Custodians The IRS has now set up its reporting system for crypto brokers, but it set aside related rules for DeFi and unhosted wallets as it continues to study 44,000 comments to the agency. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Ripple’s Big Court Win Nonetheless Muddied Waters on Whether XRP Is a Security Deserving Tougher Regulation In a near-vacuum of legal and regulatory clarity for crypto, district judges’ opinions on whether a given token is a security or not – which determines the level of regulation – can vary from court to court. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
T-Rex Group Files for 2x Long, Inverse Microstrategy ETF Bloomberg ETF analyst Eric Balchunas said this will be the 'ghost pepper' of ETF hot sauce. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Trump Surges to 67% in Polymarket Odds Post Presidential Debate Biden's chances at becoming the Democratic nominee also slid to 70%, while Gavin Newsom's odds jumped to 15%. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Crypto Unmentioned at First 2024 U.S. Presidential Debate  President Joe Biden and former President Donald Trump faced off in a debate on Thursday evening. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Who Draws the Lines? The Case for Decentralized Map Making Today, a small group of cartography companies control the world’s maps. What if there was a way of creating an open-source system where on-the-ground mappers were incentivized to participate? Hivemapper CEO Ariel Seidman outlines the argument. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
The Protocol: Blast's $3B Airdrop and Bitcoin's Mt. Gox Moment In this week's issue of CoinDesk's weekly blockchain tech newsletter, we're covering $100 million of fundraisings, project updates from Solana and other teams, complaints over LayerZero's "pay-to-claim" airdrop and nervousness surrounding the Mt. Gox bitcoin distribution. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Crypto Giants Notch Wins in Expensive Quest to Sway U.S. Politics – Without Mentioning Crypto In politics, money talks, but the donors and organizers behind crypto's massive U.S. campaign fund don't. The digital assets industry has amassed a juggernaut of campaign finance, a $169 million fund that's capable of steering many contests this year and could decide the makeup of next year's Congress. It's already scored more than 20 victories, including high-profile elections in California and, just this week, New York. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Crypto Execution-Only Platform Crossover Markets Raises $12M   CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Cardano Unfazed By Failed DDoS Attack Targeting Staked ADA No downtime was observed as a Cardano developer managed to attack the attacker and take back some funds. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Ron Wyden on FISA Reform and Crypto Sen. Ron Wyden (D-Ore.) has been a long-standing member of the U.S. Senate, and was a sponsor or co-sponsor of several key pieces of legislation enabling broad adoption of the internet. More recently, he voted in favor of a House Resolution overturning the Securities and Exchange Commission's Staff Accounting Bulletin 121, and questioned threats to personal and financial privacy online. Last month, he spoke at CoinDesk's Consensus 2024 conference. As with previous versions of this newsletter, my questions have been shortened but the Senator's responses. have only been edited lightly. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Solana Adds 'Blinks' and 'Actions' So Users Can Trade Crypto On Their Favorite Social Apps The epicenter of the latest "meme coin" hype, Solana is introducing new tools designed to make crypto trading more accessible. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
ZKsync Developer's New 'Elastic Chain' Could Compete With Polygon's AggLayer This Elastic Chain is composed of multiple chains in the ZKsync ecosystem, but users will feel like they are using a single chain. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Bitcoin Holds $61K After a Brief Nosedive Bitcoin has seen significant selling pressure from continued ETF outflow, Mt. Gox's upcoming bankruptcy redemptions, and miner sales. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Julian Assange Reaches Plea Deal With U.S. DoJ Wikileaks Co-Founder pleads guilty to single espionage charge in exchange to a sentence for time served. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Majority of Japanese Institutional Investors Plan to Invest in Crypto in Next Three Years: Nomura Survey 54% of respondents said they planned to invest in cryptocurrencies in the next three years and 25% of firms said they had a positive impression of digital assets, the study said. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Japan’s Metaplanet Wants to Buy Another $6M Bitcoin The firm will purchase over $6.2 million worth of bitcoin using proceeds from an upcoming bond issuance, adding to its BTC coffers. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Bitcoin's Double Top Suggests BTC Could Fall to $50K: Analyst The bearish pattern hints at a further correction. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
This Is Why Altcoin Investors Struggle Despite Bitcoin, Ether Sitting Near Yearly Highs Constantly diluting supply with token unlocks, selling pressure from venture funds, lack of fresh inflows to crypto and seasonal trends all contributed to the brutal drawdown in altcoin prices. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
McKinsey Sees Just $2T of Tokenized RWAs by 2030 in Base Case, With Broad Adoption 'Still Far Away' Tokenization adoption will happen in waves led by assets such as mutual funds, bonds, loans, McKinsey said in a report. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Canada's 3iQ Files to List Solana ETP in Toronto 3iQ was a leader in getting some of the first crypto ETFs past the finish line and listed on the TSX CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Mexican Cartels Using BTC, ETH, USDT, Other Tokens to Buy Fentanyl Ingredients: U.S. Criminal organizations in Mexico have been using several popular digital assets to buy the materials needed to make the drug fentanyl, according to the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN), which cited the use of bitcoin and other tokens in a Thursday advisory. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
AI Tokens Led by FET, AGIX Surge as Nvidia Zooms to Become World’s Most Valuable Company The AI-linked token sector has risen 14% in the past 24 hours, data shows, outperforming other sectors. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Monero's XMR Token Reverses February Slide With Golden Cross XMR briefly topped $180 last week, reversing the Binance-led February slide. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Binance Fined $2.2M by India’s Financial Intelligence Unit Binance, the world's largest cryptocurrency exchange, has been fined approximately $2.2 million (18.82 crore INR) for providing services to Indian clients without adhering to the nation's anti-money laundering rules, India's anti-money laundering unit announced Thursday. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
The Protocol In this week's abbreviated issue of The Protocol, we're chronicling the apparent doxing of 'Pharma Bro' Martin Shkreli as the driver behind the recently-but-no-longer mooning $DJT token, plus the SEC's apparent retreat on probing the Ethereum developer Consensys. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Martin Shkreli Says He is Behind Trump-Linked DJT as ZachXBT, GCR Start Poking Around The relatively new token created ripples in the crypto community on X this week over its supposed existence as the “official” Donald Trump token. But it turns out one of its biggest loudmouths was behind its issuance. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
IMF Says CBDCs Could Boost Middle East's Financial Inclusion, Payment Efficiency Central bank digital currencies (CBDCs) may not be essential to achieving intended policy goals, instead addressing underlying constraints and improving other digital payment systems may be a more practical alternative, a survey of 19 central banks in the Middle East and Central Asia (ME&CA) region by the International Monetary Fund's (IMF) has said. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Patrick McHenry Explains FIT21's Passage Congressman Patrick McHenry (R-N.C.) chairs the powerful House Financial Services Committee, and has been the leading Republican on the panel for years. Last year, he spent a few weeks as the Speaker Pro Tempore of the House of Representatives, after lawmakers voted to oust then-speaker Kevin McCarthy (R-Calif.). McHenry announced his retirement in December and will leave office when his term expires this coming January. He spoke virtually at Consensus 2024 in Austin at the end of May. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Original TRUMP Token Struggles With Exchange Listings as DJT Rockets Exchanges will list TREMP but not TRUMP, claiming the latter is "too political." CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Bitcoin Bounces to $67K with BTC Miners Rallying 5%-10%; XRP Leads Altcoins As bitcoin's volatility is nearing historically low levels, the crypto market is in need of news or catalysts to bring traders to action, one market participant noted. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Telecom Giant and T-Mobile Parent Deutsche Telekom Plans to Mine Bitcoin The company revealed that its also running Bitcoin and Lightning network nodes. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Crypto Trading Firm Cumberland Acquires New York's BitLicense The firm said it's one of the only principal trading firms to hold the state's crypto license. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
First Mover Americas: Crypto Majors Subdued After Fed's Hawkish Stance The latest price moves in bitcoin (BTC) and crypto markets in context for June 17, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Bitcoin Investment Products Saw Over $600M in Outflows Last Week: CoinShares Crypto markets have been laid low by a hawkish stance on interest rate cuts by the FOMC. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
U.S.-Listed Bitcoin Miners Reached Record Total Market Cap of $22.8B in June: JPMorgan Mining stocks outperformed bitcoin in the first half of the month as investors reacted positively to news of Core Scientific’s AI deal with CoreWeave, the report said. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Financial Stability Board to Extend Its Work on Stablecoin Risks in Emerging and Developing Economies  The Financial Stability Board (FSB) said it will undertake further work to consider the challenges associated with risks of global stablecoin arrangements in emerging and developing economies. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Two Men Charged With Running Darknet Marketplace Empire Market Federal prosecutors in Illinois have charged two men with owning and operating Empire Market, a darknet marketplace, according to court documents filed Friday. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Mass Adoption Would Ruin Crypto. Keep It a Niche There is an unavoidable tension between the aims of decentralization and onboarding everyday users. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Bitcoin Plunges to $65K, Altcoins Bleed 10%-20% as Week Turns Ugly BTC plummeted more than 2% in an hour to $65,200 during the U.S. trading session from around the $67,000 area. The leading crypto was down 7.5% over the past seven days CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Bitcoin ETFs See $226M Outflows Led by Fidelity’s FBTC BlackRock’s IBIT was the only ETF posting a net inflow on Thursday, while most of the funds recorded outflows. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Former Goldman Sachs Exec Joins Anchorage Digital’s Board of Directors Crypto custody firm Anchorage Digital has added Connie Shoemaker, a former Goldman Sachs executive, to its board of directors. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
U.S. Judge Signs Off on $4.5B Terraform-Do Kwon Settlement With SEC The settlement bans Kwon and Terraform Labs from buying and selling crypto asset securities while agreeing to pay $4.5 billion in disgorgement, prejudgement interest, and civil penalties. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
HLG Down Over 60% as Exploiter Mints 1 Billion New Tokens The team behind the Holograph (HLG) said they have patched the exploit and is working with centralized exchanges to freeze accounts affiliated with the exploiter CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Trump's Appeal to Bitcoin Miners Is a Wakeup Call for Crypto to Stay Apolitical It may seem like the industry is finally getting the political support it needs. But proceed with caution. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Terraform Labs, Do Kwon Agree to Pay SEC a Combined $4.5B in Civil Fraud Case  CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
In Conversation With Brian Nelson Last October, the Financial Crimes Enforcement Network (FinCEN) – the U.S. Treasury Department's money laundering watchdog – announced a proposal to label crypto mixers as a "primary money laundering" concern, a move that alarmed a broad swath of the crypto industry. Treasury Under Secretary for Terrorism and Financial Intelligence Brian Nelson addressed this move and more at CoinDesk's Consensus 2024 last month in Austin, Texas on stage. The following transcript has been lightly edited (and the bulk of my questions have been slimmed down to their gist). CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Funding Open-Source Generative AI With Crypto Crypto infrastructure could help address one of the biggest challenges in open source generative AI, says Jesus Rodriguez. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Bitcoin Pullback to $66K Triggers $250M in Crypto Liquidations as Traders Brace for 'Wild Wednesday' of FOMC, CPI Report Tomorrow's Fed "dot plot" of interest rate projection and forward guidance by Chairman Powell will be key for what's next for the digital asset market, K33 Research said. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Protocol Village: Wormhole Opens W Staking The latest in blockchain tech upgrades, funding announcements and deals. For June 10 - June 17. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Optimism Finally Gets Its Mission-Critical 'Fault Proofs' For years, Optimism was missing a core feature at the heart of its design: "Fault proofs." On Monday, that tech is finally here. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
In Defense of Meme Coins The only thing worse than meme coins is complaining about the financialization of memes. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Bitcoin Bags $2B Inflows, Ether Sees Highest Institutional Buying Since March One trader expects ETH prices to hit $10,000 in 2024, a nearly 200% increase from current levels of $3,600. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Bitcoin, Ether Little Changed Over Weekend After $400M Liquidation Rout The week ahead could boost market volatility with the CPI release on Wednesday, the FOMC meeting on Thursday, and a speech from Janet Yellen on Friday, one firm said. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Iggy Azalea Says MOTHER Tokens Can Soon Be Used to Buy Phones Monthly plans on the purported mobile service provider range from $20 to $80 as of Monday. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
New York AG Pushes Back Against DCG, Silbert’s Motion to Dismiss Fraud Case New York Attorney General Letitia James is not backing down from her lawsuit against Digital Currency Group, its founder and CEO Barry Silbert, and Soichiro “Michael” Moro, the former CEO of DCG’s wholly-owned crypto trading arm, Genesis. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Rune Christensen Explains Why He Wants to Remake Maker and Kill DAI The MakerDAO creator discusses the motivation behind the ambitious Endgame proposal in a wide-ranging interview. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
GameStop Tumbles 40% as Trading Icon Roaring Kitty Returns to Livestream Solana-based meme token GME is down 50% from earlier Friday, but remains sharply higher for the week CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
NYAG Sues 2 Crypto Pyramid Schemes, Promoters Targeting Haitian-Americans in $1B Scam New York Attorney General Letitia James has filed suit against two purported crypto companies and their top promoters, a married couple, for allegedly operating two consecutive pyramid schemes that predominantly targeted Haitian immigrants to the U.S. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Bitcoin Mining Stocks Soar Amid Takeover Frenzy The stocks are undervalued, so miners with attractive power contracts could become M&A targets, according to Wall Street analysts. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Kraken Said to be Raising Over $100M Pre-IPO Funding: Bloomberg Kraken is looking to raise more than $100 million and this may be completed by the end of this year, Bloomberg reported. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Advocacy Group 'Stand With Crypto' Says It's Exceeded 1 Million Signups Stand With Crypto, a digital assets advocacy group backed by Coinbase Inc., said it signed up its first million members as of Wednesday. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Crypto’s Latest Privacy Battle  CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Bitcoin Miners With Attractive Power Contracts Are Potential M&A Targets, JPMorgan Says U.S. listed bitcoin miners draw up to 5 gigawatts of power and have access to an additional 2.5 GW, making them attractive potential takeover targets, the report said. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
IOTA Kickstarts EVM Targeting DeFi, Real World Assets The EVM will let developers build applications with smart contracts that run on the IOTA network. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
SEC to Shutter Office Behind Failed DEBT Box Crypto Lawsuit The Securities and Exchange Commission's Salt Lake City office – notorious in the crypto world for its failed fraud lawsuit against DEBT Box – will shut down after seeing "significant attrition" among its staff, some of whom were pushed out over the case. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Bitcoin ETFs Resume Inflow Winning Streak; BlackRock's IBIT Crosses $20B in AUM The U.S.-based spot bitcoin ETFs yesterday made it 15-consecutive sessions of net inflows, with the latest rush of money combing with a rally in the price of  to send BlackRock's iShares Bitcoin Fund (IBIT) to more than $20 billion in assets under management for the first time. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Bitcoin Knocks on $70K Level; Bitfinex Hopeful Selling Pressure That Sparked a Correction Is Ending Bitcoin's slump since March was driven by long-term holders selling, but blockchain data shows the trend has stalled and investors are accumulating BTC, Bitfinex said in a report. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Wisconsin Pension Plan Likely to Invest Much More in Bitcoin ETF, Marquette Professor Says The first quarter addition of two spot bitcoin exchange-traded funds (ETFs) to the portfolio of Wisconsin's pension plan was likely just the beginning for that U.S. state’s investments into crypto, said David Krause, a professor of finance at Milwaukee-based Marquette University. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Former Binance CEO CZ Begins 4-Month Prison Sentence in California Binance founder Changpeng “CZ” Zhao has reported to a federal prison in California where he will spend the next four months for failing to implement an adequate know-your-customer (KYC) program at the world's largest cryptocurrency exchange. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
GameStop Stock, Meme Tokens Surge as User ‘DeepFu*kingValue’ Returns to Reddit Keith Gill posted his GameStop options positions on the r/superstonks subreddit. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Australia's First Spot Bitcoin ETF With Direct BTC Holdings to Go Live on Tuesday Australia-based Monochrome Asset Management's Monochrome Bitcoin exchange-traded fund (ETF) (IBTC) will begin trading on the Cboe Australia exchange on Tuesday, the company told CoinDesk. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Flood of Cash from Coinbase Gives Crypto One of the Biggest Campaign War Chests The crypto industry has – with the addition of another $25 million from Coinbase Inc. on Monday – amassed one of the largest stockpiles of campaign cash in U.S. politics. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Mexico's Crypto Stance Unlikely to Change as Ruling Morena Party's Claudia Sheinbaum Elected President Mexico City’s former mayor Claudia Sheinbaum, fielded by the ruling Morena party, has been elected Mexico's first female president. CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data