Do Kwon, founder of the failed Terra Luna crypto ecosystem, pleaded not guilty to charges of fraud following his Dec. 31 extradition to the U.S., Reuters reported on Thursday. Kwon’s Terraform Labs developed the luna cryptocurrency and algorithmic stablecoin terraUSD, which collapsed in 2022 with the loss of an estimated $40 billion. Kwon faces charges … Read more
A crypto cult hoping to flip the entire U.S. stock market just moved closer to its bizarre goal, although with trillions of dollars more to go. SPX6900 (SPX) crossed a $1.1 billion capitalization earlier Friday to set a new record above $1.25, breaking a November high of 90 cents, amid renewed interest in memecoin cults … Read more
CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index. The CoinDesk 20 is currently trading at 3594.2, up 1.8% (+64.6) since 4 p.m. ET on Thursday. 19 of 20 assets are trading higher. Leaders: ADA (+12.0%) and ICP (+10.6%). Laggards: BTC (-1.0%) and ETH (+0.6%). … Read more
The bitcoin (BTC) mining industry was shaken up in the last months of 2024 by the sudden entrance of a new player: Cango (CANG), a Chinese firm that specializes in providing loans to automobile buyers. Based in Shanghai and valued at $363 million on the stock market, Cango is in the process of acquiring 50 … Read more
The bitcoin (BTC) price may have more than doubled last year, but investors who bought the largest cryptocurrency during 2024 saw, on average, only a fraction of that according to a measure known as the realized price. The realized price is the average value of all bitcoin calculated at the price at which the tokens … Read more
While bitcoin (BTC) grabs all the eyeballs from institutional narratives, Ethereum’s ether (ETH) stands out as the go-to major token for traders looking to maximize returns through leverage. Ether’s estimated leverage ratio, which measures the degree of leverage employed by traders, climbed to a new high of 0.57 on Wednesday, marking a significant increase from … Read more
CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index. The CoinDesk 20 is currently trading at 3536.7, up 3.8% (+130.21) since 4 p.m. ET on Wednesday. 18 of 20 assets are trading higher. Leaders: RENDER (+7.8%) and SOL (+7.5%). Laggards: HBAR (-0.5%) and XLM (-0.3%). … Read more
On Nov. 6, I wrote a memo to EY’s blockchain leadership team. The headline was simple: “Every single private blockchain just died.” Since November 2022, the crypto and blockchain markets have been defined by caution and gradual recovery. The direction has been consistent and positive, but slow, especially in 2023. In 2024, we saw a … Read more
KuCoin has introduced a feature for merchants to allow customers to pay for purchases directly from their account on the crypto exchange. Merchants can integrate the tool, called KuCoin Pay, into their payment systems. Customers pay by scanning a QR code or using the KuCoin app, the exchange said in a press release. The exchange … Read more
Since U.S. President-elect Donald Trump’s convincing election victory two months ago, the dollar has strengthened more than 3% against its peers, matching its trajectory after his previous win in 2016. Last time round the DXY Index, which measures the currency’s value against a basket of the U.S.’ major trading partners, peaked in December before trailing … Read more