China’s JD.com and Ant Group are pressing the central bank to permit yuan-based stablecoins to counter the rise of U.S. dollar-linked digital currencies, Reuters reported on Friday. They propose launching stablecoins in Hong Kong backed by the offshore yuan, aiming to boost the Chinese currency’s global role. Both firms already plan to issue Hong Kong […]
Crypto Daybook Americas will not be published on Friday owing to the July 4 holiday. It will return on Monday. Wishing our U.S. readers a happy Independence Day. By James Van Straten (All times ET unless indicated otherwise) Bitcoin BTC hit $110,000 for the first time since June 11 and is now within striking distance […]
The International Monetary Fund (IMF) has rejected Pakistan’s repeated proposals to provide subsidized electricity to bitcoin (BTC) mining and other energy-intensive industries, according to reports. Secretary of Power Dr. Fakhray Alam Irfan said that the IMF was concerned about market distortions in a session with the Senate Standing Committee on Power on Thursday. The government […]
Bitcoin BTC topped the $110,000 mark for the first time since June 11 after more than $407.78 million flowed into U.S.-listed bitcoin spot ETFs on Wednesday and before a key U.S. jobs report due later in the day. The ETF inflow boosted the lifetime tally to $49.04 billion, according to data source SoSoValue. BTC’s upswing […]
Payments-focused cryptocurrency XRP (XRP) has risen by over 3.5% in the past 24 hours, with volume in the Deribit-listed options market suggesting bullish expectations. Since July 1, higher-level July 25 call options at strikes of $3.00 and $4.00 and the Sept. 28 expiry call at the $2.80 strike have emerged as the most traded bets, […]
Swiss crypto-focused bank AMINA Bank started offering clients services with Ripple USD (RLUSD), Ripple’s recently launched stablecoin pegged to the U.S. dollar on Thursday. The firm has claimed the bragging rights of becoming the first globally operating bank to support RLUSD, according to a press release shared with CoinDesk. The bank said it would initially […]
Deutsche Bank (DB) is planning to debut a crypto custody service next year, Bloomberg reported on Tuesday. Germany’s largest bank has enlisted cryptocurrency exchange Bitpanda to help build the offering, according to the report, citing people familiar with the matter. Deutsche’s prior involvement in crypto custody has largely been through Swiss custodian Taurus, of which […]
This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole. Bitcoin (BTC) bulls are optimistic that the U.S. dollar’s broader sell-off will continue in the second half of the year, fueling the crypto bull run. However, one chart warrants caution when relying on bearish dollar predictions. That’s the dollar index’s […]
By Francisco Rodrigues (All times ET unless indicated otherwise) Bitcoin (BTC) has edged up 0.9% in the last 24 hours, recovering from a dip after its record monthly close at the end of June. July may carry the trend forward, if historical data is any sign of what’s ahead. BTC has risen in all but […]
Bitcoin (BTC) is currently moving within a descending channel a persistent bearish structure that began on May 22, when it hit a high of $112,000. After reaching this level, the price fell about 10% to around $100,000. It then made a lower high at $110,000 on June 10, which was followed by a roughly 10% […]
Ivy, a German startup focused on instant payments, said it added access to Circle’s (CIRCL) USDC and EURC stablecoins to its always on-transaction rails. The Berlin-based fintech’s platform allows crypto firms, payment service providers (PSPs) and e-commerce merchants to instantly make bank payments, settle funds to local collection accounts across Europe in multiple currencies, and […]
The Bitcoin (BTC) network monthly average hashrate fell about 3% in June, Wall Street bank JPMorgan (JPM) said in a research report Tuesday. The hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work blockchain, and is a proxy for competition in the industry and mining difficulty. It […]