Bitcoin (BTC), the leading cryptocurrency by market value and the only macro asset open for trading over the weekend slipped below $100,000 as Canada joined Mexico in announcing retaliatory import tariffs against the United States. Prime Minister Justin Trudeau said Canada would impose 25% tariffs on U.S. goods, from drinks to appliances, after President Donald … Read more
Following through on threats made throughout his campaign and repeated in the opening days of his presidency, Donald Trump has imposed 25% tariffs on nearly all imports from Mexico and Canada and a 10% tariff on goods from China. The tariffs are effective beginning Tuesday. “The sustained influx of illicit opioids and other drugs has … Read more
The digital asset industry stands at a critical, hopeful juncture. After years of fragmented approaches to regulation and legislation, we’ve reached a moment where clarity is both urgent and achievable. Blockchain Association’s consensus-driven market structure principles, which represent the perspective of the leading companies in the industry, offer a framework for the path forward. The … Read more
The supply of stablecoins on Solana jumped by 112% in January to a record high of $11.1 billion, CCData (a subsidiary of CoinDesk) said in a research report on Friday. The surge coincided with the launch of Donald Trump’s memecoin $TRUMP, which caused a wave of inflows to the network, according to the report. Stablecoin … Read more
It’s deja vu all over again in crypto after a hopeful report on a tariff delay was refuted by the White House. To review, President Trump on Thursday promised to impose 25% tariffs on Mexico and Canada beginning Saturday Feb. 1. Having rallied over $106,000 prior to that news, bitcoin (BTC) quickly reversed 2% lower … Read more
It was another busy week at CoinDesk as the new Trump Administration continued to roll out a pro-crypto agenda and the industry laid the groundwork for growth in the new cycle. Ripple was at the center of the news. Ondo Finance announced it would offer tokenized treasuries on Ripple’s XRP Ledger, Kris Sandor reported. The … Read more
Evgeny Gaevoy began his career in traditional finance, specializing in market making and prop trading. But by 2016, seeing the inefficiencies of legacy financial systems and the potential for disintermediation, Gaevoy realized there was an opportunity to create something entirely new and better. With experience building up foreign exchange firm Optiver’s European ETF business — … Read more
Tether, the crypto company behind the largest stablecoin USDT, said on Friday it generated $13 billion group-wide net profits last year in a record-breaking year. Some $7 billion of the profits derived from the firm’s vast U.S. Treasuries and repo holdings, and $5 billion from unrealized appreciation of the company’s gold and bitcoin (BTC) holdings. … Read more
Shaurya Malwa Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis. Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, … Read more
Swiss banking giant UBS said that it completed a proof-of-concept of its UBS Key4 Gold offering on the Ethereum layer-2 network ZKsync. The simulation, which was conducted on a ZKsync test network, is a sign of renewed interest in blockchain technology among traditional financial institutions. This isn’t UBS’ first experiment with blockchain. The bank previously … Read more