The U.S. banking industry had effectively lobbied to halt the crypto industry’s market structure bill, the Digital Asset Market Clarity Act, over a dispute about the proper role for stablecoin rewards. But lawmakers continue to negotiate a compromise to move that legislation forward. One of the lawmakers at the center of those talks, Senator Angela…
About $27 million was liquidated on the decentralized lending platform Aave over the last 24 hours, in what some market participants say may have been caused by a temporary pricing issue involving the token wstETH. Blockchain data flagged by risk-management firm Chaos Labs shows a spike in liquidations in the past 24 hours. Some observers…
There is a war going on between crypto firms and traditional banks over stablecoins, and Jefferies analysts said that they could become a steady drag on bank earnings as digital dollar use spreads. While stablecoins aren’t going to be an immediate existential threat to banks and aren’t likely to trigger a sudden run on U.S….
For much of crypto’s history, the primary use case has been simple: buying tokens and trading them. Now, some investors and builders believe the industry may be moving toward a different model altogether: earning crypto instead of buying it. One version of that idea is what venture firm Multicoin Capital calls Internet Labor Markets (ILM)…
The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission — the sister agencies that will regulate most U.S. crypto activity — have been rivals in the past over crypto issues, but they’re now pursuing a formal memorandum of understanding to combine agency efforts, said SEC Chairman Paul Atkins. “We are reorienting our…
Latest developments: Infrastructure providers are increasingly building network-based stablecoin payment systems instead of single-provider rails, said Borderless CEO, Kevin Lehtiniitty, in an interview on CoinDesk’s Markets Outlook. Borderless recently partnered with wallet infrastructure provider Dfns to launch an institutional stablecoin off-ramp aimed at banks, fintechs and enterprises. The system routes stablecoin payouts through multiple liquidity…
Calling the U.S. the “crypto capital of the world,” Commodity Futures Trading Commission (CFTC) Chairman Mike Selig updated his agency’s ongoing plans to provide long-awaited regulatory clarity for decentralized finance (DeFi) developers, crypto derivatives and prediction markets. Speaking this week at the FIA Global Cleared Markets Conference in Boca Raton, Florida, Selig said the U.S….
Crypto market strength extended into Tuesday, with bitcoin BTC$70,816.15 gaining by 3.9% since midnight UTC to trade at $71,000 while ether (ETH) is back above $2,000, a level it recently had problems surpassing. Crypto was not alone in its ascent. U.S. equities and precious metals also after U.S. President Donald Trump said the war in…
Pudgy Penguins shipped its flagship game to the general public on Monday, and the most notable thing about it is that you wouldn’t know it had anything to do with crypto unless someone told you. Pudgy World, the browser-based game first announced at Art Basel in late 2023, went live with 12 unique towns across…
Zcash Open Development Lab (ZODL), a new development group formed by the former core team of the Electric Coin Company (ECC), has raised more than $25 million in seed funding to continue building the privacy-focused cryptocurrency ecosystem. The round drew support from Paradigm, a16z crypto, Winklevoss Capital, Coinbase Ventures, Cypherpunk Technologies, Chapter One, Balaji Srinivasan…
