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 […]
The Federal Reserve continued its relaxation of crypto oversight on Friday with a move to shut down a two-year-old supervisory program intended to keep a special eye on banks’ crypto ties, instead folding that task back to its day-to-day oversight work. The central bank established its short-lived Novel Activities Supervision Program during the tenure of […]
Digital asset treasury (DAT) firms, seen as high-beta plays on crypto prices, sold off sharply on Friday as the August crypto rally showed signs of exhaustion. Strategy (MSTR) fell another 3% on Friday, extending its decline to 20% since July’s high and 33% from the November 2024 all-time high. The MSTR/IBIT ratio dropped to 5.43, […]
Stellar lumens (XLM) traded in a tight range over the past 24 hours, holding between $0.42 and $0.43 from Aug. 14 at 15:00 UTC through Aug. 15 at 14:00 UTC. The token saw measured gains before late-session profit-taking pushed prices 1% lower to $0.43 in the final hour of trade. CoinDesk Data’s technical analysis model […]
Czech police have detained convicted drug trafficker Tomáš Jiřikovský, the man behind a multi-billion-dollar bitcoin donation to the country’s Ministry of Justice, escalating a scandal that has already claimed a cabinet minister. The Supreme Public Prosecutor’s Office said Thursday that the National Centre for the Fight Against Organised Crime (NCOZ) intervened in the case, securing […]