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
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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
MicroStrategy Increases Convertible Note Offering by 40% to $700M in Bitcoin Splurge
The proceedings of the issuance will be used to acquire more bitcoin and for general corporate affairs.
Drake on Brink of $1M Bitcoin Loss as NHL and NBA Bets Sour
Canadian singer Drake is on the cusp of losing $1 million worth of crypto after he placed two individual $500,000 bets on the Edmonton Oilers and the Dallas Mavericks to win their respective Stanley Cup and NBA finals.
DeFi Heavyweight Curve Focused on Becoming ‘Safest’ Lending Platform, Founder Says
Curve founder Michael Egorov’s $100 million in loans taken from various protocols using Curve’s CRV tokens started to automatically liquidate on Thursday, sending the token down as much as 30% before it briefly recovered.
First Mover: Bitcoin Struggles Near $67,000 as Cryptos Lag Behind Stocks
The latest price moves in bitcoin (BTC) and crypto markets in context for June 14, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Nigeria Drops Tax Charges Against Binance Executives
The executives, Tigran Gambaryan and Nadeem Anjarwalla, are still named in a money-laundering case.
Bitcoin Traders See Short-Term Bearish Target at $60K as Miners Pare Holdings
Persistent testing of the lows sets the bears up for quick success with their next target at $60,000, one trader said.
More Central Banks Are Exploring a CBDC, BIS Survey Finds
There's a greater chance of a wholesale CBDC being issued within six years than a retail one, according to the report.
Taiwan Crypto Advocacy Body Becomes Formally Active With 24 Entities
Taiwan's crypto advocacy body, the Taiwan Virtual Asset Service Provider Association, has been formally established and the founding meeting held with 24 cryptocurrency-related entities.
Here's Why Bitcoin's Not Keeping Pace With Nasdaq
Bitcoin has declined 6% in one week even as Nasdaq rallies to fresh record highs.
Bitcoin Could Hit $1M Within 10 Years, Bernstein Says as It Initiates Coverage of MicroStrategy
The broker initiated coverage of the stock with an outperform rating and a $2,890 price target.
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.
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.
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.
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
Assured Spot Ether ETF Approval Fails to Stir Slumping Crypto Market
SEC Chair Gary Gensler said he expected the new vehicles to have won full approval by the end of the summer.
Crypto for Advisors: Advisors and Crypto
In today's Crypto for Advisors newsletter, Adam Blumberg shares the key highlights and trends from the recent FA/RIA at the Consensus 2024 conference.
Bitcoin Mining Stabilizes Power Grids Strained by AI Data Centers
Bitcoin miners help expand the use of renewable energy and balance energy networks, says Ryan Condron, co-founder of Lumerin.
EU Body Publishes Final Draft Technical Standards for Prudential Matters: MiCA
The European Banking Authority (EBA) published on Thursday the final draft technical standards on prudential matters for firms to comply with that fall under the markets in crypto assets (MICA) legislation.
Ether ETFs Should Be Fully Approved by September, Says SEC Chair Gensler
U.S. Securities and Exchange Commission Chair Gary Gensler said that the final approvals for exchange-traded funds (ETFs) trading Ethereum's ether {{ETH}} should be finished this summer, he told senators in a budget hearing on Thursday.
Swiss Regulator Shutters Crypto-Linked FlowBank, Begins Bankruptcy Process
FINMA announced Thursday that FlowBank’s minimum capital requirements were found to have been “significantly and seriously breached.”
Protocol Village: McLaren Data Tracker on Minima Blockchain Could Prevent Race Car Cheating
The latest in blockchain tech upgrades, funding announcements and deals. For the period of June 13-19.
Early Buyers of Andrew Tate’s DADDY Meme Coin Apparently Sitting on $45M in Unrealized Value
There is no evidence to show Tate sold tokens from his doxxed wallets, but some supposed “insider” buying activity before the token’s promotion on X shows too much of the token in too little hands.
White House Expected to Nominate CFTC Commissioners to FDIC, Treasury Roles: Reports
The White House is expected to nominate Commissioner Christy Goldsmith Romero as the next Federal Deposit Insurance Corporation Chair media outlets have reported.
In Defense of Fundamental Analysis Amid Memecoin Mania
Engaging in memecoin markets without thorough analysis and a clear understanding of the risks involved is effectively gambling, not investing, says Jupiter Zheng, partner at HashKey Capital.
Crypto Markets Have Seen $12B of Net Inflows This Year, JPMorgan Says
Most of the $16 billion inflow into spot bitcoin ETFs since their launch likely came from existing digital wallets on exchanges, the report said.
Blockchains Are Revolutionizing Public Goods Funding
Rewriting how capital flows through society is arguably the biggest unlock in crypto. As blockchains compete for market share, we’re begging to see rapid experimentation with novel forms of funding that grow ecosystems, says Sophia Dew.