Crypto exchange Gemini announced its exit from the United Kingdom, European Union and Australia markets on Thursday, as the company slashed its workforce by 25%. Gemini cited artificial intelligence automating labor and making engineers “100x” more efficient, and a more challenging business environment in the UK, EU and Australia, as reasons for the exit, according … Read more
The Aster decentralized crypto exchange (DEX) and perpetual futures platform announced on Thursday that its layer-1 blockchain testnet is now live for all users, with a potential rollout of the Aster layer-1 mainnet in Q1 2026. Several new features are slated for a Q1 launch, including fiat currency on-ramps, the release of the Aster code … Read more
Bitcoin risks a deeper slide as miners and US spot ETFs cut BTC exposure, adding supply pressure during a fragile downtrend. Bitcoin (BTC) price dropped by more than 22.5% in the past week to $69,000 on Thursday, wiping out 15 months of gains entirely. However, the downtrend may not be over, according to veteran trader … Read more
South Korean regulators are stepping up oversight of the domestic cryptocurrency market, signaling a faster, more coordinated approach to detecting suspicious trading activity amid renewed volatility. The heightened scrutiny was highlighted after South Korea’s Financial Supervisory Service (FSS) said it was reviewing sharp price movements in the ZKsync token listed on Upbit, following extreme volatility … Read more
US-based spot Bitcoin exchange-traded fund (ETF) holders are showing relatively firm conviction despite a four-month Bitcoin downtrend, according to ETF analyst James Seyffart. “The ETFs are still hanging in there pretty good,” Seyffart said in an X post on Wednesday. While Seyffart said that Bitcoin (BTC) ETF holders are facing their “biggest losses” since the … Read more
Some crypto companies have proposed giving community banks a bigger stablecoin role as Senate negotiations stall over the contentious market structure bill. Crypto companies are reportedly floating concessions relating to stablecoin yields in an attempt to unfreeze the delayed crypto market structure bill. The legislation passed the House but has stalled in the Senate as … Read more
The US Commodity Futures Trading Commission has withdrawn a Biden administration-era proposal that would have banned sports and political prediction markets, some of the most popular event contracts today. The recently confirmed CFTC chair, Mike Selig, said on Wednesday that the agency has withdrawn a 2024 notice of proposed rulemaking that sought to ban event … Read more
Key takeaways: Heavy outflows from Bitcoin exchange-traded funds and massive liquidations show that the market is purging highly leveraged buyers. Bitcoin options metrics reveal that pro traders are hedging for further price drops amid a tech stock sell-off. Bitcoin (BTC) slid below $73,000 on Wednesday after briefly retesting the $79,500 level on Tuesday. This downturn … Read more
Bitcoin’s (BTC) struggle to hold above $70,000 carried on into Wednesday, raising concerns that the a drop into the $60,000 range could be the next stop. The sell-off was accompanied by futures market liquidations, a $55 billion drop in BTC open interest (OI) over the past 30 days, and rising Bitcoin inflows to exchanges. The … Read more
Fireblocks, an institutional-grade crypto infrastructure company, announced on Wednesday that it will integrate Stacks, a decentralized finance (DeFi) layer for the Bitcoin protocol, to give institutional clients access to lending and yield-bearing opportunities. The integration bypasses the 10-minute Bitcoin block time by leveraging the Stacks blockchain, which has an average block time of about 29 … Read more