BNB Chain’s BNB token and PancakeSwap’s CAKE bucked low-volatility market conditions to rally 9.3% and 35% respectively even as bitcoin (BTC), the largest cryptocurrency, remained rangebound at $96,200. CAKE has more than doubled over the past seven days, a move coinciding with a spike in trading volume, with $1.1 billion being notched in the past … Read more
By James Van Straten (All times ET unless indicated otherwise) After Wednesday’s unexpectedly high consumer price inflation (CPI) figures, all eyes now turn to the produce price report due at 8:30 a.m. Analysts expect year-over-year PPI to come in at 3.2%, below December’s 3.3%, with a month-on-month reading of 0.3%, up from 0.2%. Core PPI, … Read more
U.S. spot-listed bitcoin (BTC) exchange-traded funds (ETFs) have seen three consecutive days of outflows totaling $494 million. Wednesday’s outflows were the largest of the three, with $251 million, which saw BlackRock’s iShares Trust (IBIT) register a $22.1 million outflow, with Fidelity Wise Origin Bitcoin Fund (FBTC) registering the largest outflow of $102 million, according to … Read more
Crypto exchange Coinbase (COIN) is holding talks with Indian authorities in an effort to secure approval to return to the country it quit in 2023, Tech Crunch reported on Wednesday. The exchange is in talks with regulators including the Financial Intelligence Unit (FIU), Tech Crunch said, citing two people familiar with the matter. “Coinbase is … Read more
Metaplanet (3350), a Japanese bitcoin (BTC) acquirer, will be added to the Morgan Stanley Capital International (MSCI) Japan index at the end of Feb. 28, according to the firm’s CEO Simon Gerovich. The MSCI index tracks mid-to-large-cap Japanese stocks, which serve as a key benchmark for institutional investors worldwide. As a result of inclusion, Metaplanet … Read more
Bitcoin (BTC) miner Riot Platforms appointed three new directors to its board as it explores potential opportunities in artificial intelligence (AI) and high-performance computing (HPC). The additions include Michael Turner, former president of Oxford Properties and global head of real estate at OMERS, one of Canada’s largest pension funds, alongside Jaime Leverton, ex-CEO of Hut … Read more
LinksDAO is launching its own community token, adding a highly tradeable asset alongside its nearly 10,000 membership non-fungible token (NFTs) this crypto golf club tried selling to fund its mantra: “We’re gonna buy a golf course.” NFTs aren’t as trending as they were in early 2022 when LinksDAO sold its membership tokens for $10 million. … Read more
Bitcoin’s (BTC) Coinbase premium indicator, which measures the spread between BTC’s dollar-denominated price on the Coinbase exchange and tether-denominated price on Binance, has flipped negative for the first time since the Feb. 3 crash, according to data source Coinglass. It’s a sign that traders over the Nasdaq-listed exchange have turned cautious ahead of Wednesday’s U.S. … Read more
Welcome to The Protocol, CoinDesk’s weekly wrap-up of the most important stories in cryptocurrency tech development. I’m Ben Schiller, CoinDesk’s Opinion and Features editor. In this issue: Can Based Rollups solve Ethereum’s problem? Lido goes modular Uniswap finally unveils Unichain Ethereum’s Pectra upgrade is coming Network news BASED ROLLUPS TO THE RESCUE: In recent years, … Read more
The Trump-family backed World Liberty Financial launched its token reserve to back various crypto ecosystems, the decentralized finance (DeFi) protocol said in an X post on Wednesday. World Liberty said it will diversify its token holdings and engage with traditional finance firms to invest their tokenized assets into the reserve. The protocol did not disclose … Read more