Oil futures surged above $110 a barrel Monday as escalating tensions in the Middle East rattled global markets, sending Asian stocks sharply lower, with all of the region’s markets opening deep in the red, even as bitcoin held steady near $67,000. West Texas Intermediate crude jumped roughly 17% in 24 hours. Japan’s Nikkei 225 fell…
Oil barrels that can still reliably reach global markets via the Middle East are now trading above $100 a barrel, a stark market signal of acute geopolitical stress and supply fears that could ripple through global risk assets, including stocks and bitcoin BTC$66,244.42. Since the military conflict between the U.S., Israel and Iran began a…
In what’s become a familiar scenario in crypto over the past few months, prices are starting the week on the wrong foot. After little sign over the weekend of any de-escalation in the U.S. war against Iran, the price of oil has exploded higher in Sunday evening U.S. trade. April WTI crude oil futures are…
Key senators critical to advancing the crypto market structure legislation may soon be willing to move forward on the bill, individuals familiar tell CoinDesk. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions. Crypto negotiators’ hopes are bubbling up over…
Every revolution eventually becomes the establishment. What began as crypto’s peer-to-peer challenge to the global financial order is rapidly being absorbed into the traditional fold, trading its anti-elite soul for the legitimacy of spot ETFs, institutional custody and the same banking frameworks it was built to bypass. This is a familiar arc. Throughout history, every…
Bitcoin’s BTC$66,920.47 recent tendency to move in step with U.S. equities does not erase its value as a portfolio diversifier. That’s according to financial services and infrastructure firm NYDIG. In a weekly market note, Greg Cipolaro, the company’s global head of research, said correlations between bitcoin and stock benchmarks such as the S&P 500, the…
XRP edged lower after a technical breakdown earlier in the session, with buyers now attempting to stabilize price near the $1.35 support area. News Background XRP has remained under pressure in recent sessions as the token trades within a broader corrective structure that has persisted since late February. Price action has largely been driven by…
The smart money allocating to bitcoin bought the panic last week. Then it sold the rally to everyone else. Whales holding between 10 and 10,000 bitcoin accumulated heavily between Feb. 23 and March 3, when bitcoin was trading between $62,900 and $69,600, according to Santiment. That window covered the worst of the Iran war sell-off…
Circle has begun using its own stablecoin infrastructure to move money between internal entities, settling $68 million in transfers using USDC, CEO Jeremy Allaire said Saturday. The transactions were executed through Circle Mint, the company’s platform for minting and redeeming USDC. The firm’s treasury team used the system to carry out intercompany transfer pricing —…
Prediction market platforms Kalshi and Polymarket are discussing potential fundraising rounds that could value each company at about $20 billion. If completed at that level, the deals would roughly double their valuations from late 2025. The discussions remain early and may not lead to finalized investments, according to the Wall Street Journal. Prediction markets allow…
