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Mostrando postagens de julho, 2025

XRP Falls 8% Below $3 After Hitting Resistance, High-Volume Selloff Signals Weakness

What to Know XRP declined 8% over the past 24 hours, falling from a session high of $3.17 to a low of $2.94, as intense sell pressure overwhelmed initial strength. The sharpest drop occurred during the midnight trading window on August 1, when XRP fell 2.7% in a single hour, accompanied by 259.21 million units in volume—nearly 4x its 24-hour average. Despite the downtrend, accumulation signals surfaced during the recovery phase, as XRP rebounded to $2.98. Volume diminished after the initial volatility, suggesting that institutional buyers stepped in to absorb excess supply near key support zones. News Background Whale activity surrounding XRP continues to deliver mixed signals. On one hand, large holders have liquidated roughly $28 million worth of XRP daily over a trailing 90-day period, according to on-chain data. This trend highlights persistent distribution among institutional and early holders. At the same time, over 310 million XRP tokens—valued at nearly $1 billion—have be...

Asia Morning Briefing: Bitcoin Drops to $115K as Third Major Profit-Taking, New Tariff Tensions Add Pressure

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Good Morning, Asia. Here's what's making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas. Bitcoin (BTC) is set to end the trading week in Asia down 2.3% on the day, changing hands above $115,300. A new round of global tariffs from the White House is dragging down markets in Asia, with the Nikkei 225 opening in the red along with Seoul's KOPSI. Bitcoin is also not immune to this, as historically digital assets also follow equity markets when the White House announces tariffs – though that has also begun to weaken. CoinGlass data shows around $260 million in long positions have been liquidated over the last 4 hours. BTC is struggling with tariff pressure and continued profit taking after a historic run past all-time highs. According to a new report by CryptoQuant, bitcoin just experie...

The Ether Machine Kicks Off $463M ETH Treasury Strategy With $57M Purchase

The Ether Machine, a crypto infrastructure firm preparing to go public via a merger with SPAC sponsor Dynamix, said it executed its first major ether (ETH) purchase , acquiring nearly 15,000 ETH for $56.9 million. The transaction, at an average price of $3,809.97, marks the start of the company’s treasury deployment strategy, which includes plans to accumulate over 334,000 ETH. The Ether Machine has some $407 million remaining for ETH purchases, bringing its total committed and acquired exposure to the second-largest cryptocurrency to roughly $463 million. The timing of the announcement coincides with the 10th anniversary of Ethereum’s launch — a symbolic alignment with the project’s core mission to build institutional-grade, yield-generating ETH infrastructure. The purchase was executed through The Ether Reserve LLC, a vehicle funded in part by a $97 million private placement. The company indicated that further ether acquisitions from that pool would be disclosed in subsequent upd...

MicroStrategy's Market Hints at Strongest Downside Risk Since April

As shares in Nasdaq-listed MicroStrategy (MSTR) continue to lose ground, demand for downside protection in the bitcoin-holding company has reached its strongest in months. On Wednesday, the one-year put-call skew —the difference in implied volatility between call and put options expiring in 12 months —rose to 3.6%, the highest since April 17, according to data source Market Chameleon . In other words, the demand for put options, which offer protection against price losses, relative to calls, is now strongest in over three months. AI's take A rising put-call IV spread means that the implied volatility of put options (which profit if the stock price falls) is increasing much faster, or is significantly higher, than the implied volatility of call options (which profit if the stock price rises). This suggests that options traders are willing to pay a much higher premium for downside protection or are betting more aggressively on a decline in MSTR's stock price. It reflects a...

Bitcoin, XRP, Ether Recoup Overnight Losses as Analysts Point to Growing Threat to Fed Independence

Major cryptocurrencies have reversed overnight losses, with analysts asserting that Wednesday's Fed decision underscored President Trump's growing influence over the central bank, strengthening the long-term bullish case for crypto. The Fed kept the benchmark interest rate steady at 4.25% as expected, and Chairman Jerome Powell dampened prospects of renewed rate cuts from September, stressing that the central bank is focused on controlling inflation—not on government borrowing or home mortgage costs that Trump wants lowered. Powell's comments rocked the crypto market, with bitcoin (BTC) falling to $116,000. XRP, ether (ETH) and solana (SOL) also fell, shaking out leveraged bets from futures markets. These losses, however, have been reversed. As of the time of writing, BTC was trading at $118,400, with XRP and ETH changing hands at $ 0.00314 and $3,870, according to CoinDesk data. The CoinDesk 80 Index , a broader market gauge, hovered near 915 points, up 0.8% over the ...

WLFI Invests $10M in Falcon Finance to Boost On-Chain Dollar Liquidity

Stablecoin project Falcon Finance said it secured a $10 million strategic investment from World Liberty Financial (WLFI), the decentralized finance (DeFi) platform with links to U.S. President Donald Trump's family. The funding will support technical integrations that enable liquidity between USDf , Falcon’s synthetic dollar, and WLFI's USD1 stablecoin , according to an emailed announcement. The investment comes as Falcon Finance surpasses $1 billion in circulating supply following its public debut. Falcon’s risk-adjusted synthetic dollar protocol contrasts with WLFI’s fully reserved USD1, which is redeemable 1:1 for U.S. dollars and backed by money market funds and cash equivalents. The difference means the two projects could offer complementary means of generating yield through on-chain dollar instruments. USD1 is already being utilized as collateral within Falcon, according to the announcement. “By combining Falcon’s model with our fiat-backed design, we’re building a m...

XRP Futures Volume on Kraken Eclipses Sol for 1st Time as Price Soars to Record

XRP (XRP) perpetual futures listed on the U.S.-based Kraken exchange have become more popular than their sol (SOL) counterparts for the first time. Trading volumes on Kraken-listed XRP perpetuals have topped $3.48 billion this month, outpacing the Solana token's tally of $3.23 billion, Kraken told CoinDesk. The exchange listed the XRP perpetual futures in 2022. XRP has also stolen the show in terms of price performance. The payments-focused cryptocurrency's price has surged over 40% this month, hitting a record high of $3.66. Meanwhile, programmable blockchain Solana's SOL has risen only 17% to $181, CoinDesk data show. Commenting on the volume, Alexia Theodorou, the head of derivatives at Kraken, said that it's a clear reflection of renewed optimism around XRP. "It's driven by growing market confidence following the SEC lawsuit resolution and reinforced by the election of a more crypto-friendly administration," Theodorou told CoinDesk. "XRP has b...

ARK Invest Buys Another $15.3M Worth of Ether Strategy Firm BitMine Immersion

ARK Invest increased its investment in ether treasury company BitMine Immersion Technologies for a second straight day, buying $15.3 million worth of the shares on Tuesday. Cathie Wood's investment management firm added 477,498 BMNR shares across its Innovation (ARKK), Next Generations Internet (ARKW) and Fintech Innovation (ARKF) exchange-traded funds (ETFs), according to an emailed update. The purchase followed a larger one of 529,366 shares the previous day. BMNR shares dropped further on Tuesday, closing 8.9% lower at $32 , extending their slide following a climb to $135 at the start of this month. source https://www.coindesk.com/markets/2025/07/30/ark-invest-buys-another-usd15-3m-worth-of-ether-strategy-firm-bitmine-immersion

Bitcoin Demand Shift: Coinbase's 60-Day BTC Premium Streak is at Risk

After a historic 60-day run, bitcoin's (BTC) premium on Coinbase, a key indicator of robust U.S. investor demand, is dissipating, indicating a notable shift in market dynamics. BTC's Coinbase premium, which represents the percentage difference between the BTC/USD pair on Coinbase and the BTC/USDT pair on Binance, turned negative early Tuesday, marking the first such instance since late May, according to data source TradingView. The negative flip indicates a renewed, relative weakening of demand from U.S. investors, supporting the case for an extended pullback in BTC's price. The Coinbase Bitcoin Premium Index is a measure of the percentage difference between the price of Bitcoin on Coinbase Pro (USD pair) and the price on Binance (USDT trading pair). A positive value is widely seen as an indicator of robust demand from U.S. investors, especially institutions. The Nasdaq-listed cryptocurrency exchange is popular among U.S. investors, particularly large institutions, whil...

DOGE Plunges 9% in Steep Sell-Off, But Rebounds from Critical Support Zone

What to Know DOGE fell 9.24% from $0.248 to $0.226 during the 24-hour window from July 28 01:00 to July 29 00:00. Price action swung across a $0.025 range (10.39%) from a $0.248 high to a $0.223 low. A temporary recovery effort during the final hour lifted DOGE slightly from $0.223 to $0.226. Institutional sell pressure was concentrated between 13:00–14:00, with volume spiking to 918 million—more than 2x the 24-hour average of 410 million. News Background DOGE’s selloff mirrors broader risk-off sentiment across crypto assets as central banks reassess rate cuts amid persistent inflation. At the same time, geopolitical tensions and trade-related uncertainty are dampening speculative appetite, especially among institutional traders. The meme token reached a short-term high of $0.248 early in the session but met heavy resistance and saw a cascade of selling during U.S. trading hours. Despite a late-session bounce, DOGE failed to reclaim key resistance at $0.24. Price Action Summa...

Billionaire Ray Dalio Backs 15% Allocation to Bitcoin and Gold Amid U.S. Debt Spiral

Bridgewater Associates founder Ray Dalio is calling for investors to allocate 15% of their portfolios to bitcoin (BTC) or gold, citing heightened risks from the U.S.’s accelerating debt burden and long-term currency devaluation. “If you were optimizing your portfolio for the best return-to-risk ratio, you would have about 15% of your money in gold or Bitcoin,” Dalio said on the Master Investor podcast Sunday. The comments mark a notable shift from his 2022 recommendation of just 1–2% in BTC, reflecting growing concern over what Dalio calls a “debt doom loop.” He pointed to a projected $12 trillion in new Treasury issuance over the next year, required to service the U.S.'s $36.7 trillion national debt. A U.S. Treasury report on Monday confirmed the trend , with the government expecting to borrow $1 trillion in Q3, $453 billion more than previously forecast, followed by $590 billion in Q4. Dalio, who still favors gold over bitcoin, described both as “effective diversifiers” in a...

XRP Accumulation Plan Boosts Hyperscale Data Stock by 12%

Shares of Hyperscale Data (GPUS) rose as much as 12% Monday after the company confirmed it has begun acquiring XRP, following through on its previously announced plan to allocate up to $10 million into the token as part of a broader digital asset strategy. In a July 28 statement , the company said it views XRP as a scalable foundation for cross-border value transfer and emerging financial infrastructure. Executive Chairman Milton “Todd” Ault III called XRP a “foundational asset in the evolving global financial ecosystem.” Hyperscale plans to publish weekly digital asset updates starting August 12, summarizing XRP holdings and cumulative activity. The company is also considering a 36-month lockup for its XRP reserves and may expand the $10 million cap depending on market conditions and financing availability. The stock closed up 7.5% at $0.7835, after hitting a session high of $0.82. source https://www.coindesk.com/markets/2025/07/29/xrp-accumulation-plan-boosts-hyperscale-data-st...

XRP Prints Higher Lows, Tests $3.23 Resistance With Heavy Volume

XRP posted modest gains despite intraday volatility, recovering from early lows to close near $3.22 on strong afternoon volumes. Institutional accumulation and a late-session rally hint at upside continuation. What to Know XRP advanced 1.3% during the 24-hour period ending July 27 at 20:00, trading between a low of $3.15 and a high of $3.23. The token dipped to $3.16 early in the session but rebounded sharply on strong buying interest. A late-session rally added to bullish momentum as XRP settled near the top of its range, suggesting short-term strength heading into the next trading window. News Background Market conditions remained uncertain as crypto sentiment continues to digest recent ETF-related volatility and liquidation activity. Despite this, XRP showed signs of technical resilience, supported by signs of institutional buying pressure. Broader narratives around XRP's utility in cross-border payments and DeFi integration continue to underpin long-term interest. Price Ac...

Asia Morning Briefing: Trump's E.U. Tariff Deal Holds Bitcoin Near $119K

Good Morning, Asia. Here's what's making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas. Bitcoin (BTC) traded at $119,430 in early Asia hours on Monday, up 1.24%, as bullish momentum continued following a series of institutional milestones and a breakthrough trade deal between the United States and the European Union. The CoinDesk 20 (CD20) Index rose 2.37% to 4,099.18, extending its recent recovery. Over the weekend, President Donald Trump and European Commission President Ursula von der Leyen announced a framework trade agreement at Turnberry, Scotland, that sets a 15% U.S. import tariff on E.U. goods, avoiding the previously threatened 30% rate. The deal includes $600 billion in E.U. investment in U.S. energy and defense over the next three years and aims to reduce Europe’s reliance on ...

Michael Saylor Is Bringing Bitcoin-Backed Money-Market-Style Vehicle to Wall Street: NYDIG

Strategy (MSTR) is pulling off some form of financial alchemy: using bitcoin, historically a volatile asset, to create something that looks a lot like stability. That’s the firm’s $2 billion “Stretch” Preferred Stock (STRC) offering offers a variable 9% dividend and is designed to keep the share price hovering near $100. The offering doesn’t give investors direct bitcoin exposure, yet it's backed by the asset in spirit and structure, according to a recent NYDIG report. Strategy holds $71.7 billion in bitcoin and just $11 billion in liabilities, giving it room to deliver income even if crypto prices dip, the report notes. Historically, bitcoin has returned at least 3%–4% annually over any five-year stretch, while average returns have been significantly higher. Strategy is betting it can use this return profile to sustain high payouts without touching its crypto stash, essentially turning long-term bitcoin appreciation into monthly cash flow. “STRC looks to us like a high-yiel...

What’s Next for Hyperliquid’s HYPE Token? What Wall Street and Analysts Are Saying

Michael Saylor’s controversial bitcoin treasury strategy is no longer fringe — it’s being mimicked across corporate America. According to a recent Wall Street Journal report , companies have raised more than $85 billion in 2025 to buy cryptocurrencies for their corporate treasuries — more than double the amount raised in U.S. IPOs this year. Unlike in 2020, when MicroStrategy’s Saylor stood alone in selling shares to buy bitcoin, a new wave of companies — from toy manufacturers to semiconductor firms — is executing similar strategies with institutional backing. Capital Group, Galaxy Digital, and D1 Capital are among the firms pouring cash into companies that raise funds to accumulate digital assets directly. The surge has extended beyond bitcoin to include lesser-known tokens, often with higher risk-reward profiles. One of the most prominent examples is Hyperliquid Strategies Inc. (HSI), a public crypto treasury company being formed to hold large reserves of HYPE, the native token o...

Bitcoin Cash Surges Past $580 as Analysts Predict Breakout Toward $620–$680 Range

Bitcoin Cash (BCH) extended its recent rally on Sunday, rising 5.25% to $583.64 as of 08:54 GMT, according to CoinDesk data. The token has now gained 10.5% over the past week, 15.7% over the last two weeks and 17.3% over the past 30 days. Sunday’s breakout has caught the attention of several technical analysts, who flagged bullish signs in both price action and trading structure. Analyst “CW” noted that BCH is “breaking through the sell wall” — a term traders use to describe a heavy concentration of sell orders at a specific price level. When price breaks through such a wall, it often signals that buyers are absorbing that supply and that upward momentum could accelerate. CW pointed to $620 as the next potential target if this breakout holds. Another analyst, “Ultimae GL,” focused on the long-term chart, observing that BCH had cleared a resistance level that had held for an extended period. Long-term resistance typically refers to a price ceiling that has rejected upward moves on ...

$9 Billion Exit by Satoshi-Era BTC Whale Sparks Debate: Are Bitcoin OGs Losing Faith?

Bitcoin’s identity crisis came roaring back into focus this weekend after Galaxy Digital (GLXY) announced that it had facilitated a $9 billion sale of more than 80,000 bitcoin for a Satoshi-era investor. The firm said the sale — one of the largest notional BTC transactions ever — was part of the seller’s estate planning strategy. The transaction was immediately seen as symbolic. For some, it marked a practical rebalancing. For others, it was a worrying sign that even Bitcoin’s earliest believers are cashing out. Crypto analyst and commentator Scott Melker fanned the flames with a sharply worded post on X. “Bitcoin is amazing,” he wrote on July 26. “But it’s obviously been co-opted to some degree by the very people that it was created as a hedge against. Many of the most ardent early whales have seen their faith shaken and have been selling at these prices.” The comment kicked off a fierce debate that spanned crypto influencers, traders, and ideologues — many of whom disagreed over...

SUI Soars 15% as Analysts Predict Breakout to as High as $10 on Surging Momentum

Sui (SUI) rallied 15% on Saturday to $4.23, extending its multi-week surge and outperforming most major cryptocurrencies. The token is now up 13.1% over the past week, 28.7% in the last 14 days, and 62.3% over the past month, according to CoinDesk data. The move drew renewed attention from crypto traders, with analysts flagging potential for a broader breakout. "Marcus Corvinus" described the setup as a “breakout zone loading,” noting that SUI’s price is pressing against trendline resistance — a level that has repeatedly capped its recent rallies. He pointed to a technical formation called an AB=CD pattern, which reflects symmetrical price moves. When completed, this pattern often precedes another leg higher. Corvinus said momentum is building quickly and outlined a series of bullish price targets: $5.64 to complete the pattern, $6.70 as an “acceleration zone,” and $8.00 if the rally gains full momentum. “This isn’t just another pump,” he wrote. “It’s the start of SUI’s n...

Winklevoss Claims JPMorgan Halted Gemini Onboarding After Data Access Fees Criticism

Tyler Winklevoss, co-founder of the crypto exchange Gemini, claimed that JPMorgan Chase halted its onboarding process for Gemini after he criticized the bank’s new fee structure for fintech companies. Last week, Winklevoss publicly criticized JPMorgan CEO Jamie Dimon after Bloomberg reported the bank would start charging fintech platforms for access to customer banking data. Many of these platforms serve as bridges between traditional banks and crypto services. “This will bankrupt fintechs that help you link your bank accounts to crypto companies,” Winklevoss posted on X. “ This is the kind of egregious regulatory capture that kills innovation, hurts the American consumer, and is bad for America.” JPMorgan didn’t address Gemini directly but defended its decision, telling Forbes that nearly 2 billion monthly requests for user data come from third parties, most of them not tied to actual customer activity. By charging fees, the bank says it aims to curb misuse and protect consumer...

HBAR Surges 12% Following Robinhood Listing, Making it Top Daily Gainer Among Top 20

Hedera’s HBAR token surged nearly 12% on Friday, climbing to $0.2657 and outperforming every other top-20 cryptocurrency by daily percentage gain, according to CoinDesk Data. The rally followed an announcement by popular trading platform Robinhood that it had added support for the asset, increasing its exposure to a broad base of U.S. retail investors. The listing sent HBAR trading volumes sharply higher, with a mid-day breakout around 12:00 UTC on July 25 pushing prices through the $0.26 mark amid more than 713 million tokens traded in a single hour. That move established the $0.26 zone as near-term resistance, though the token continued to show strong upward momentum into Saturday. Hedera, unlike traditional blockchains, operates on a unique hashgraph consensus model that allows for high-speed, low-cost transactions at scale. It is designed to support decentralized applications, NFTs, and DeFi, and is widely known for its energy efficiency. The network’s native token, HBAR, is use...

Analysts See XRP Hitting $4, Solana $250 as ETF Buzz Builds

XRP is regaining investor attention as a wave of ETF-driven optimism and post-lawsuit momentum builds around the token — even amid price turbulence and large-scale liquidations earlier this week. According to Bitget Wallet CMO Jamie Elkaleh, institutional confidence has improved since Ripple’s partial legal win in March, paving the way for futures products like ProShares’ UXRP and fueling speculation around a potential spot ETF. “XRP is regaining market momentum as renewed ETF speculation intersects with increasing legal clarity,” Elkaleh said. “This shift is boosting market depth and signaling a structural step forward for XRP’s legitimacy in U.S. markets.” That narrative helped XRP briefly break above $3.60 before retracing to around $3.09, following $105M in long liquidations and a controversial $175M wallet transfer linked to Ripple co-founder Chris Larsen. Despite the volatility, analysts remain constructive. “Renewed ETF speculation and legal clarity... are significant cataly...

Volmex's Bitcoin and Ether Volatility Futures Top $10M Volume Since Debut as Traders Look Beyond Price

Futures tied to Volmex's bitcoin (BTC) and ether (ETH) implied volatility indices, BVIV and EVIV, have registered a cumulative trading volume of over $10 million since their debut on decentralized leveraged trading platform gTrade. The quick rise to over $10 million shows that traders are increasingly engaging with sophisticated derivatives linked to volatility for risk management, looking beyond price speculation. The BVIV measures the options-based implied or expected volatility in bitcoin over a four-week period. The EVIV represents the same for ether. Both indices have declined sharply during the recent bull run, suggesting a potential evolution into VIX-like fear gauges. Trading volatility futures involves betting on the expected amount of price fluctuation in the underlying asset over a specified future period, rather than predicting its direction. Essentially, you're speculating on how "bumpy" or "calm" the market will be, allowing you to profit f...

Roman Storm Trial: Is Coding A Crime? The Tornado Cash Court Battle Intensifies

NEW YORK — The government officially rested its case against Tornado Cash developer Roman Storm on Thursday, bringing eight days of witness testimony to a close. Storm’s defense introduced its first witness, Ethereum core developer Preston Van Loon, on Thursday afternoon. Van Loon told the jury that he was a user of Tornado Cash, describing it as a privacy tool for Ethereum that allowed people to separate their identities from their money. Van Loon explained that he’d used the protocol for “operational security and personal safety” to protect himself from hackers and other unknown adversaries. Van Loon — who sued the U.S. Treasury Department for sanctioning Tornado Cash and won , leading to the sanctions being reversed — did not testify about his related lawsuit, which U.S. District Judge Katherine Polk Failla banned from being discussed at trial. Van Loon’s testimony was the first taste of Storm’s defense case, which will argue that Tornado Cash was first and foremost...

Bitcoin Whale Wagers $23.7M on BTC Rally to $200K by Year-End

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Bitcoin's (BTC) price rally may have stalled lately, but bullish conviction certainly hasn't, as whales continue to bet millions on an extended market rally. Recently, one such whale executed a significant bullish options play targeting $200,000 by the year's end. The strategy involved the simultaneous purchase of 3,500 contracts of the Deribit-listed $140,000 December call option and the short sale (or writing) of 3,500 contracts of the $200,000 December call option. This complex trade, a bull call spread, resulted in an initial net debit of $23.7 million. As Deribit Insights noted , "The Dec 140-200k Call spread dominates, buying low Dec 140k IV, funded by higher IV 200k Calls." The strategy will achieve maximum profit if BTC settles at or above the higher strike price, $200,000 in this case, by the expiration date. This strategy generates a net debit because the premium paid for the lower strike call option (the purchase) exceeds the premium received from s...

XRP Ledger Tapped for Tokenizing $130M Agribusiness Credit as Brazil's RWA Push Accelerates

Brazilian securitization firm VERT has launched a blockchain-based private credit platform on the XRP Ledger, debuting with a brazilian real 700 million (approximately $130 million) issuance of an Agribusiness Receivables Certificate (CRA), per a release . The CRA, a key instrument used to bundle future cash flows from Brazil’s agricultural sector was recorded on-chain using the XRPL and its Ethereum-compatible EVM sidechain, allowing real-time tracking of cash flows, loan events, and payments. VERT’s new platform aims to modernize Brazil’s $200 billion private credit market by offering end-to-end lifecycle traceability, compliant metadata storage, and real-time updates for investors and regulators. The firm states that the system integrates both on-chain recording and off-chain redundancy, thereby bridging Brazil’s regulated financial infrastructure with blockchain rails. “We are enabling operation events to be recorded in the most granular way possible, ensuring traceability and ...

FTX to Start Next Round of Creditor Repayments on Sept. 30

FTX, the once prominent crypto exchange, will begin the next round of cash redistribution on Sept. 30, the bankrupt firm said in a statement on Wednesday . The firm, which was led by founder Sam Bankman-Fried, started paying back its creditors earlier this year. FTX has repaid nearly $6.2 billion after getting approval for its redistribution plan by the U.S. bankruptcy court. The former crypto giant used to be a mainstay in the digital asset ecosystem till a CoinDesk expose in 2022 resulted in the downfall of Sam Bankman-Fried's empire. In 2023, Bankman-Fried was convicted on seven counts of fraud and conspiracy, and sentenced to 25 years in prison for orchestrating the $11 billion fraud. Although, according to a report , his sentence could be cut by 4 years due to "good conduct." FTX also said that it has received court approval to reduce its disputed claim reserve to $4.3 billion from $6.5 billion. The exchange will distribute the cash through BitGo, Kraken, and Pa...

Ether, XRP Trades Book Bigger Losses Than Bitcoin as Bulls See $680M Liquidations

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A sharp pullback across crypto markets on Tuesday triggered nearly $735 million in liquidations with bulls bearing the brunt. Ether (ETH) and XRP tracked futures bets booked larger losses than bitcoin in an unusual move, indicative of the higher interest toward altcoin traders in the past week. CoinGlass data shows ETH traders lost $152.78 million, the largest for any asset, followed by $88.58 million in liquidations for XRP. Bitcoin came in third at $65.29 million, despite its larger market cap and deeper liquidity. While price action across the majors was mostly down by only a few percentage points, the high leverage used by retail traders in altcoins likely amplified their losses. In total, $625.5 million of the liquidations were on long positions, suggesting the selloff caught many bulls off guard after weeks of upward momentum. Other heavily hit tokens included Solana’s SOL at $41 million, dogecoin (DOGE) at $40 million, and smaller DeFi tokens like SPK and PUMP seeing over $...

Asia Morning Briefing: Animoca Exec Says U.S. Heat Is Pushing China's Stablecoin Agenda

Good Morning, Asia. Here's what's making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas. In 2021, China’s central bank warned that global stablecoins could bring risks and challenges to the "international monetary system, payment and clearing system, monetary policies, [and] cross-border capital flow management." That quote, from the People’s Bank of China’s white paper on its e-CNY project , reflected the PBOC's deep skepticism toward private-sector digital currencies, particularly Facebook's Libra. As it turns out, Libra never launched. But stablecoins like Tether's USDT and Circle's USDC are now deep inside the financial plumbing around the world, especially in Asia , making processes like supply-chain financing more efficient than ever. As a result, Beijing...

Dogecoin Could Soon Verify ZK Proofs Natively, Thanks to DogeOS Push

Dogecoin might’ve started as a joke, but this upgrade isn’t one. DogeOS, the app layer developed by the MyDoge wallet team, has submitted a formal proposal to Dogecoin Core that introduces a new opcode that would enable the network to verify zero-knowledge proofs (ZKPs) natively. Developers aim to transform an unused part of the script system into a tool that can verify cryptographic proofs, starting with ‘Groth16’ (a specific type of proof widely used in zk systems) and allowing for future upgrades. This would enable Dogecoin to support more advanced, off-chain applications, such as rollups and smart contracts, while maintaining the main chain's speed and simplicity. The approach is modular by design as proof systems are mode-selectable, and the opcode behavior is strictly opt-in. If the proof verifies, the script proceeds; if not, it fails. Old nodes remain compatible, treating the opcode as a no-op. No surprise forks, no VM bloat. “The OP_CHECKZKP proposal marks a major te...

South Korea Tells Firms to Cut Exposure to Crypto ETFs, Coinbase and Strategy: Report

South Korea's finance regulator has informally warned local asset managers to reduce their exposure to crypto exchange-traded funds (ETF) and U.S.-listed digital asset firms, according to a report by the Korean Herald . The Financial Supervisory Service (FSS) verbally told several firms to limit their exposure to Coinbase (COIN) and Michael Saylor's Strategy (MSTR), to comply with its 2017 policy stance. The report seems to suggest a change in policy by the country as it was previously reported that the regulator was looking at easing some of the trading requirements for crypto. The FSS' policy prohibits regulated financial institutions from holding or buying equity investments in digital assets. An FSS official said that despite the change in the regulatory environment in the U.S. and South Korea, institutions need to abide by the current set of guidelines, the report added. The FSS was not immediately available for comment. source https://www.coindesk.com/policy/2...

Asia Morning Briefing: The First AI vs BTC Environmental Impact Numbers are Here. And it Might Start a New Debate

Good Morning, Asia. Here's what's making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas. Mistral AI recently offered a rare benchmark in the Artificial Intelligence industry's environmental disclosure , detailing the footprint of its flagship large language model, Mistral Large 2. Over 18 months, training and operating this model generated 20.4 kilotonnes of CO₂-equivalent emissions, consumed 281,000 cubic meters of water, and depleted 660 kilograms of antimony-equivalent materials, Mistral's report said. Notably, a single 400-token response from its chatbot, Le Chat, uses just 1.14 grams of CO₂, 45 mL of water, and 0.16 milligrams of mineral resources. But how does this compare to bitcoin's carbon footprint? After all, bitcoin's energy use has been the subject of significan...