For the past few years, stablecoins have been defined by a narrow reality: essentially a two-horse race between Tether’s USDT and Circle’s (CRCL) USDC, with most activity concentrated on crypto-native exchanges. What comes next looks materially different, Alchemy co-founder and President Joe Lau told CoinDesk in an interview. The near-term trajectory for stablecoins has lots … Read more
LUNC$0.0₄6315, the rebranded token from the collapsed Terra ecosystem, posted one of the largest gains in the crypto market over the past 24-hour period, climbing more than 74% to $0.0000072 on exploding trading volume. The token is up more than 160% in the past week. The rally comes ahead of the Dec. 11 sentencing of … Read more
Western Union has unveiled plans to introduce a new “stable card” to protect users in high-inflation economies as part of its stablecoin strategy. Speaking at the UBS Global Technology and AI conference, chief financial officer Matthew Cagwin said the initiative builds on the company’s investor-day reveal that it is moving beyond traditional cross-border payments and … Read more
The Bank of Japan is preparing to raise interest rates at its December policy meeting, a shift that would lift the country’s benchmark rate to its highest level since 1995 and potentially reverberate through global risk markets, including crypto. People familiar with the matter told Bloomberg that policymakers are leaning toward a 25-basis-point hike to … Read more
XRP slipped toward the $2 mark in early U.S. hours Friday as social sentiment around the token deteriorated sharply, with new data from analytics firm Santiment showing the deepest stretch of bearish commentary since October. The turn in crowd mood comes after a two-month slide of roughly 31%, leaving the token vulnerable to further downside … Read more
Clear Street, a New York brokerage that has become one of the most active underwriters in the crypto-treasury boom, is preparing to go public with an expected valuation of $10 billion to $12 billion. The IPO could come as early as next month, with Goldman Sachs lined up to lead the offering, the Financial Times … Read more
Russia’s second-largest lender, VTB, is positioning itself to become the first major bank in the country to let customers trade bitcoin and crypto directly. Andrey Yatskov, head of VTB’s brokerage arm, told Russian outlet RBC that client demand for “real” crypto — not just derivative products — is rising sharply. “As we see it, real … Read more
The CFTC is opening the door for federally regulated spot crypto trading in the U.S. for the first time, with Bitnomial’s exchange opening up next week. Acting Chairman Caroline Pham announced that listed spot crypto products will trade on CFTC-registered exchanges, marking a major milestone in the effort to bring digital asset trading to the … Read more
Twenty One Capital, Inc. (“Twenty One”) led by CEO Jack Mallers and Cantor Equity Partners, Inc. (“CEP”) announced on the 3rd of December that their shareholders approved the combination of the two businesses, meaning that Twenty One is set to go public very soon. The vote is expected to have received a lot of attention … Read more
Bitcoin treasury companies are entering a “Darwinian phase” as the core mechanics of their once-booming business model break down, according to a new analysis from Galaxy Research. The report said that the digital asset treasury (DAT) trade has reached its natural limit as equity prices fell below Bitcoin (BTC) net asset value (NAV), causing the … Read more