The U.S. Treasury Department is seeking new ideas for detecting and cutting off illicit crypto activity as it begins to put the new stablecoin law into effect. The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act — the first major U.S. law to erect a regulatory system in the crypto space — called […]
Stablecoin issuer Circle (CRCL) has acquired Malachite, the consensus engine that is set to underpin payments-focused blockchain Arc, from software development firm Informal Systems, according to a Monday press release. The deal includes the underlying technology and intellectual property of Malachite, and nine persons from Informal Systems will join Circle, an Informal Systems spokespersons told […]
Stellar’s XLM token came under heavy institutional selling pressure between August 17 at 3:00 PM and August 18 at 2:00 PM, sliding from $0.43 to $0.41 in a 6% decline. Trading volumes during the 24-hour period topped $30 million, representing roughly 7% of daily turnover. The most notable liquidation event occurred between 1:00 AM and […]
Good Morning, Asia. Here’s what’s making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas. Leverage in crypto markets is surging back to bull-market levels, even […]
Wall Street ramped up its exposure to bitcoin in the second quarter, adding positions not only in spot bitcoin exchange-traded funds (ETFs) but also in U.S. stocks closely tied to the cryptocurrency’s price, according to new filings with the Securities and Exchange Commission (SEC). Brevan Howard nearly doubled its position in BlackRock’s iShares Bitcoin Trust […]
Chainlink’s LINK token jumped 18% to $26.05 on Sunday, according to CoinDesk Data, outpacing the top 50 cryptocurrencies by percentage gain as analysts and traders cited momentum and recent fundamental catalysts. What Analysts Are Saying Altcoin Sherpa described LINK as “one of the best coins right now,” pointing to chart strength that could carry toward […]
A pervasive calm has taken hold of asset classes as traders look forward to Federal Reserve (Fed) Chairman Jerome Powell’s speech at the annual Jackson Hole Symposium, scheduled for Aug. 21-23. Bitcoin’s (BTC) 30-day implied volatility, as measured by Volmex’s BVIV and Deribit’s DVOL index, has declined sharply in recent months, hovering near two-year lows […]
Bitcoin (BTC) mining profitability increased 2% in July as the price of the world’s largest cryptocurrency rose 7% while the network hashrate jumped 5%, investment bank Jefferies said in a research report on Friday. “We see positive BTC price momentum as most favorable for Galaxy’s (GLXY) digital assets business, while miners fight a rising network […]
Crypto exchange Gemini filed an updated registration statement for its initial public offering effort, sharing a few more details in its push to become a publicly traded firm. Goldman Sachs (GS), Citigroup (C), Morgan Stanley (MS) and Cantor acting as lead bookrunners on the IPO, Gemini said in a press release Friday. Evercore ISI, Mizuho, […]
Rick Rieder, BlackRock’s chief investment officer of global fixed income, said earlier this week the current backdrop represents the “best investment environment ever,” citing unusually favorable dynamics in both equity and bond markets. Speaking on CNBC, Rieder described “extraordinary” technical conditions in equities, with trillions of dollars still parked in money market funds and robust […]
Bitcoin Standard Treasury Co. (BSTR), a bitcoin (BTC) treasury vehicle led by cryptography pioneer Adam Back, sees itself as a company with a mission to accelerate real-world bitcoin adoption. But it might be setting out on another milestone: becoming one of the biggest corporate bitcoin holders. The company, which is preparing to go public on […]
Wellgistics Health Inc. is deploying an XRP Ledger-based payment system for thousands of pharmacies across the United States, deepening its bet on blockchain as it looks to overhaul healthcare finance. The Nasdaq-listed distributor (WGRX) has announced that its new platform enables independent pharmacies to pay for drug inventory and move funds instantly, bypassing banking delays […]