Inflation at the wholesale level came in faster than forecast last month in another disappointment to investors and policymakers hoping for cooling price pressures. The Producer Price Index (PPI) rose 0.4% in January versus economist forecasts for 0.3% and 0.2% in December. On a year-over-year basis, PPI was higher by 3.5% against estimates for 3.2% … 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 3191.13, down 1.0% (-32.82) since 4 p.m. ET on Wednesday. Three of 20 assets are trading higher. Leaders: APT (+1.3%) and AAVE (+0.9%). Laggards: NEAR (-3.1%) and AVAX (-2.6%). … Read more
Popular non-fungible token (NFT) marketplace OpenSea said Thursday that it is expanding its platform to crypto trading and confirmed it is planning to distribute SEA tokens to users. The trading platform called OS2 has launched today, and aggregates marketplaces, allows cross-chain purchasing and offers lower fees in the beginning, according to the protocol’s press release. … Read more
USDT issuer Tether could face challenges if proposed U.S. stablecoin regulation is passed, and the company may have to sell some of its reserves to comply with the new rules, Wall Street bank JPMorgan (JPM) said in a research report Wednesday. The Senate’s Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act mandates federal … Read more
South Korea’s Financial Services Commission (SFC) plans on lifting a ban that prevented institutions trading crypto in response to the upsurge in global participation in the market, it said on Thursday. Non-profit organizations like charities, university and school corporations, law enforcement agencies will be able to sell their virtual assets by the first half of … Read more
Plasma, a crypto startup building a Bitcoin-based blockchain designed specifically for stablecoins, raised $20 million to further its development, the company said on Thursday. The fundraising round was led by Framework Ventures and will support Plasma’s testnet and mainnet launches, as well as its expansion into remittances, payments and DeFi applications, the team said. The … Read more
In today’s issue, we get ready for tax time as Anthony Tuths from KPMG provides an overview of crypto tax preparation and the rules to follow. Then, Layne Nadeau from NVAL answers questions about taxes and NFTs in Ask and Expert. – Sarah Morton Tax time – What You Need To Know About Crypto Taxes … Read more
Which market offers the most favorable environment for virtual assets? This distinction remains highly contested, with various financial centers competing to become leading hubs for digital assets, aiming to attract innovation, investment and jobs. In Asia, two of the most prominent players in this space are Hong Kong and Singapore. Hong Kong’s regulatory environment will … Read more
Crypto isn’t all that different from politics. According to Rushi Manche, the founder of blockchain company Movement, “Crypto is an attention game.” It’s fitting, then, that Donald Trump — the master of all things attention — is so at home selling memecoins. But it’s not just Trump’s inner circle that’s managed to capitalize on his … Read more
Coinbase (COIN) topped already strong estimates for fourth quarter results, posting a 138% year-over-year gain in revenue amid the major bull move in crypto surrounding the November election of Donald Trump. The leading U.S. crypto exchange posted fourth quarter revenue of $$2.27 billion against consensus $1.84 billion and $1.26 billion three months prior. Adjusted earnings … Read more