U.S. spot bitcoin exchange-traded funds (ETFs) recorded their largest combined daily outflow since Sept. 26 on Monday, with $326.4 million exiting the market, according to Farside data. However, BlackRock’s iShares Bitcoin Trust (IBIT), the largest spot bitcoin ETF by assets on the market, bucked the broader trend by continuing to see inflows. Over the past […]
By Francisco Rodrigues (All times ET unless indicated otherwise) A rapid and violent sell-off wiped more than $500 billion from crypto markets Friday, triggering forced liquidations, collapsing wrapped tokens, leading to nearly $20 billion in liquidations, and straining exchange infrastructure. The flash crash, described by Bitwise portfolio manager Jonathan Man as possibly the worst liquidation […]
Hyperliquid will activate its HIP-3 network upgrade on Monday, allowing anyone who meets onchain requirements to launch perpetual futures markets on the platform. An administrator announced in Hyperliquid’s Discord that the Oct. 13 upgrade will turn on HIP-3, adding that “there is no immediate change for users,” but deployers can create markets “once ready.” The […]
Synthetix’s native token SNX jumped more than 120% in the past 24 hours, according to CoinDesk market data, reclaiming levels not seen since before the 2022 market crash and sparking fresh conversation around the return of DeFi’s earliest “dino coins.” A dino coin is a colloquial term for a token or coin that has was […]
No, Ethena’s USDe Didn’t De-peg
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During Friday’s turbulent market sell-off, Ethena’s synthetic dollar, USDe, which maintains its 1:1 peg to the USD through cash-and-carry arbitrage, briefly dropped, hitting 65 cents on Binance. However, this dramatic dislocation was confined to Binance as opposed to the global de-pegging of the USDe as social media chatter suggests. Most trading of USDe occurs on […]
The coming week in crypto will bring a positive development in the case of Ethereum’s Fusaka upgrade being applied to the Sepolia testnet. However, concerns remain over the crypto market in general as the U.S. government continues its shutdown, which has halted several crypto ETF applications in their tracks. The crypto market sold off on […]
China’s Ministry of Commerce (MOFCOM) says its new rare-earth export controls are lawful national-security steps — not blanket bans — and that licenses will be issued for eligible civilian trade, according to a spokesperson’s Q&A posted on X Sunday morning local time. Rare earths — a group of 17 elements used in permanent-magnet motors for […]
Friday’s sell-off triggered what Bitwise portfolio manager Jonathan Man called the worst liquidation event in crypto history, with more than $20 billion wiped out as liquidity vanished and forced deleveraging took hold, in an article on X published Saturday. Perpetual futures — “perps” in trading shorthand — are cash-settled contracts with no expiry that mirror […]
Auto-deleveraging is the emergency brake in crypto perpetuals that cuts part of winning positions when bankrupt liquidations overwhelm market depth and a venue’s remaining buffers, as Ambient Finance Founder Doug Colkitt explains in a new X thread. Perpetual futures — “perps” in trading shorthand — are cash-settled contracts with no expiry that mirror spot via […]
Coinbase is preparing to launch a new American Express credit card in the U.S. this fall, and everything about it — from the design to the rewards — seems tailored to bitcoin enthusiasts. A card built around bitcoin’s origin story Unlike most crypto-linked cards, Coinbase’s upcoming product isn’t just about perks — it’s about symbolism. […]
Ethana’s yield-bearing stablecoin, USDe, briefly lost its 1:1 dollar peg during the recent sharp market sell-off triggered by U.S. President Donald Trump’s announcement of a 100% additional tariff on China. On Binance, USDe dropped to 65 cents before quickly regaining parity with the dollar during what’s seen as crypto’s largest ever liquidation event in U.S. […]
While bitcoin (BTC), ether (ETH) and other major cryptocurrencies tumbled in a $19 billion liquidation event on Friday, major gold-backed digital assets bucked the trend amid the precious metal’s rally. Tokens tied to physical gold, including Paxos’ PAXG and Tether’s XAUT, were among the few to hold their ground, and even edge higher, as broader […]