Bitcoin financial services firm Onramp has partnered with lending platform Arch to introduce a bitcoin-backed lending service, the companies announced. The new product allows BTC holders to secure loans while keeping ownership of their assets, a move aimed at investors looking to access liquidity without selling their bitcoin (BTC). The service provides bitcoin-collateralized loans, allowing … 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 3245.42, up 1.3% (+40.73) since 4 p.m. ET on Wednesday. 18 of 20 assets are trading higher. Leaders: NEAR (+4.9%) and FIL (+4.6%). Laggards: LTC (-5.9%) and UNI (-3.4%). … Read more
Pi Network, the smartphone mining project that claims to have 60 million users, released its native PI token Thursday giving traders a roller-coaster ride that saw the price rise 18% in minutes before tumbling 50% over the next two hours. PI debuted at $1.70 at 09:00 UTC, rising to as high as $2.00. It was … Read more
Decentralized derivatives exchange SynFutures has introduced Synthia, an AI trading agent that allows traders to swap or transfer assets using natural language commands. SynFutures is the largest DEX on Coinbase’s layer-2 network Base with 24 hour volume hitting $220 million and liquidity at $768 million. The AI agent will be rolled out in three phases, … Read more
The absence of stablecoin regulation in the U.S. is one of the main hurdles to adoption, S&P Global Ratings said in a Wednesday report. “The lack of regulation is one of the main impediments to stablecoin adoption in the U.S. and has prevented a broader institutional adoption of stablecoins,” analysts led by Mohamed Damak wrote. … Read more
By Francisco Rodrigues (All times ET unless indicated otherwise) Crypto traders are deleveraging after Wednesday’s FOMC minutes showed the Fed is looking to hold rates steady until inflation improves and discussed pausing or slowing the balance sheet runoff. Still, the yield on the 10-year Treasury dropped and the dollar weakened. Cryptocurrencies are higher, with the … Read more
Qualified cryptocurrency custodians BitGo and Copper, the firm behind the ClearLoop settlement system, are providing off-exchange settlement for traders using options exchange Deribit, the firms said on Thursday. Clients of BitGo and Copper can now trade spot and derivatives on Deribit while assets are secured off-exchange in qualified custody with BitGo Trust, and automatically settled … Read more
Nigeria’s Federal Inland Revenue Service (FIRS) is suing Binance for $79.5 billion in economic losses as well as $2 billion plus interest in back taxes, the exchange said in its blog. This is a leap from the initial $10 billion figure that Nigeria’s government sought after alleging that the exchange had enabled $26 billion of … Read more
Cryptocurrency options exchange Deribit is still talking to Kraken for a potential acquisition, contrary to reports that the U.S. exchange had walked away from a potential deal to buy Deribit, a person familiar with the matter said. Recent reports also confirmed the crypto options platform was working with FT Partners to assess takeover bids, but … Read more
The LIBRA memecoin scandal that rocked Argentina over the weekend destroyed millions of dollars in investor wealth, according to research by Nansen. On-chain data tracked by Nansen show 86% of traders lost a total of $251 million, while the winners secured just $180 million in profits. In other words, it was a “net-negative wealth-generating” event … Read more