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Crypto News Today: PayPal's Stablecoin Debut, Worldcoin's Kenyan Hurdles, and More

[Aug 7, 2023 1:25 PM] From PayPal's entry into the stablecoin market to regulatory challenges faced by Worldcoin in Kenya, the crypto world continues to be a blend of innovation and controversy.

Aptos’ APT Token Slides Ahead of $30M Unlock

[Aug 7, 2023 12:42 PM] APT has decreased by over 3.2% in the past 24 hours performing worse than bitcoin (BTC) and ether (ETH), per CoinDesk market data.

Buffett and Ackman take opposing sides on Treasury yields — What does it mean for Bitcoin?

[Aug 7, 2023 11:30 AM] Two investment moguls are betting on different directions for inflation and Treasury yields, with potentially negative impacts on Bitcoin.

CPI Preview: Bitcoin Unlikely to Get Bullish Catalyst

[Aug 7, 2023 10:33 AM] Markets are already expecting the Fed to refrain from more rate hikes this year and have begun pricing in rate cuts in 2024.

Sino Global Files $67M Claim Against FTX-Alameda

[Aug 7, 2023 8:35 AM] Sino Global invested in tokens heavily affected by the decline of Sam Bankman-Fried's FTX crypto empire and partnered with FTX on a fund raised with outside investors' capital.

Bitcoin Remains King While Crypto Hedge Funds Get Rekt

[Aug 7, 2023 8:14 AM] Even though crypto hedge funds managed positive returns during the first half of 2023, bitcoin trounced them, according to a 21e6 Capital report.

First Mover Americas: Michael Saylor's Wager on Bitcoin Looking Better

[Aug 7, 2023 6:20 AM] The latest price moves in bitcoin (BTC) and crypto markets in context for August 2, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

Fed's Rate Hike Cycle Has Peaked, Investment Banks Say

[Aug 7, 2023 6:17 AM] The end of the tightening cycle does not necessarily imply a quick pivot toward zero interest rate policy, meaning animal spirits may not return to the crypto market anytime soon.

Crypto Options Traders Are Still Shorting Bitcoin Volatility

[Aug 7, 2023 2:28 AM] "Given the absence of big news in August, selling volatility and taking a vacation for solid theta gains is the only thing I can do right now," one trader said. Crypto traders typically short volatility by selling or writing call/put options.

Huobi's Stablecoin Reserves Down 30% Amid Reports of Executive Arrests

[Aug 7, 2023 2:05 AM] Data from Nansen.ai shows that users have withdrawn $44.8 million in stablecoins during the last week.

First Mover Asia: Bitcoin Teases $30K While the Long Wait for an ETF Continues

[Aug 6, 2023 7:52 PM] Trading volume is down, but all signs point to a break-out around the corner.

SHIB, UNI, OKB and HBAR flash bullish signs as Bitcoin volatility hits record low

[Aug 6, 2023 1:30 PM] Bitcoin remains stuck in a tight range, but select altcoins such as SHIB, UNI, OKB and HBAR are attracting buyers.

Coinbase earnings show the company is now much more than just an exchange

[Aug 4, 2023 2:30 PM] The Coinbase earnings report shows that services and subscriptions are the exchange’s core revenue streams. Is this a positive or a negative?

Price analysis 8/4: BTC, ETH, BNB, XRP, DOGE, ADA, SOL, MATIC, LTC, DOT

[Aug 4, 2023 1:17 PM] Bitcoin continues to range trade, and altcoin traders are starting to view BTC’s price consolidation as a positive sign for the rest of the crypto market.

Coinbase Bears Doubt Stock Can Rise Even After Exchange Beats Estimates

[Aug 4, 2023 8:34 AM] It’s hard to see a favorable valuation argument for the stock given the company’s revenue is tethered to an asset class that has yet to show a sustainable everyday utility value, Goldman Sachs said.

Looter Behind $61M Curve Hack Starts Returning Assets, Raising Hope for Recovery

[Aug 4, 2023 8:31 AM] The exploited protocols offered a 10% bounty Thursday for returning the rest of the assets until the end f this week.

First Mover Americas: Upbit Moves Up to No. 2 in Spot Trading Volume

[Aug 4, 2023 6:18 AM] The latest price moves in bitcoin (BTC) and crypto markets in context for August 2, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

Bitcoin Holdings on OTC Desks Decline 33%: Glassnode

[Aug 4, 2023 3:57 AM] Over-the-counter desk balances are widely considered a proxy for institutional activity.

Toshi Emerges as Key Meme Coin Play Among Traders on Coinbase’s Base Blockchain

[Aug 4, 2023 1:51 AM] Base is officially going live next week, and some small-cap token hunters are already laying bets.

Crypto Options Volume on CME Rose to Nearly $1B in July: CCData

[Aug 4, 2023 12:01 AM] The increase in BTC options volume on the CME suggests that institutions might be hedging their positions.

First Mover Asia: Bitcoin Remains Calm Above $29.1 K but Is Higher Volatility in Its Future?

[Aug 3, 2023 7:26 PM] PLUS: A decrease in bitcoin supply active a year ago indicates that long-term holders have reduced their bitcoin exposure. Is hodling starting to wane?

Bitcoin Steady at $29.2K as Market Dormant in Asia Session

[Aug 3, 2023 4:54 PM] The largest cryptocurrency by market cap is likely to remain stubbornly rangebound a little above $29,000, market analysts believe.

Optimism transactions surpass Arbitrum, but what’s behind the uptick in users?

[Aug 3, 2023 2:30 PM] Transactions on Optimism recently eclipsed the Arbitrum network, but do the project’s fundamentals support a sustainable growth trajectory?

Traders Ditch USDT on Curve, Uniswap, Pushing Key Exchange Pools Into Imbalance

[Aug 3, 2023 1:07 PM] Similar imbalances happened when Terra imploded in May 2022 and after the Silicon Valley Bank crisis hit USDC issuer Circle in March.

Could a Bitcoin bull run be triggered by Fitch’s US credit rating downgrade?

[Aug 3, 2023 1:05 PM] Fitch downgraded the U.S. credit rating due to its government debt and potential challenges in handling its fiscal responsibilities. Will Bitcoin’s price benefit from this decision?

South Korean Exchange Upbit Surpasses Coinbase, OKX in July Trading Volume to Take No. 2 Spot for First Time

[Aug 3, 2023 10:24 AM] The exchange bucked the general market trend that saw a decline in trading volume for most centralized exchanges.

Binance Boosts First Digital's Stablecoin With Zero Fees to Buy and Sell Bitcoin, Ether

[Aug 3, 2023 9:54 AM] The crypto exchange listed the Hong Kong-regulated First Digital's FDUSD stablecoin last week.

Exclusive - Tether Purchased 1,529 Bitcoin in Q2, CTO Confirms

[Aug 3, 2023 7:47 AM] Tether, the company behind the world’s most popular stablecoin USDT, acquired 1,529 bitcoin in the second quarter of 2023.Paolo Ardoino, the company’s CTO, confirmed the purchase to Bitcoin Magazine. According to the executive, Tether paid roughly…

Ether Liquid Staking Protocols Could Double in 2 Years: HashKey

[Aug 3, 2023 7:00 AM] The amount of staked ether could reach between 31%-45% of the total supply by the end of Q2 2025.

First Mover Americas: Justice Department May Charge Binance With Fraud: Report

[Aug 3, 2023 6:31 AM] The latest price moves in bitcoin (BTC) and crypto markets in context for August 2, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.