Key takeaways: Bitcoin’s futures funding rates briefly turned negative, signaling that bullish traders currently lack the conviction to use leverage. Uncertainty regarding the long-term profitability of artificial intelligence has pushed investors toward gold and US government bonds. Bitcoin (BTC) failed to reclaim the $70,000 level on Tuesday following a retraction in the S&P 500 futures….
Wall Street analysts are betting that BitGo’s push into full-service institutional crypto finance will not only fuel long-term growth but also position the company as a prime acquisition target for traditional finance firms. Compass Point analyst Ed Engel, who has a buy rating on the stock, wrote that the firm’s services could be attractive to…
Gemini Space Station Inc. (GEMI) is parting ways with three top executives, including its chief operating officer (COO), chief financial officer (CFO) and chief legal officer (CLO), the exchange disclosed in a filing on Tuesday. COO Marshall Beard, CFO Dan Chen and CLO Tyler Meade are all leaving effective immediately, according to the filing. Beard…
CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index. The CoinDesk 20 is currently trading at 1979.83, down 0.3% (-5.15) since 4 p.m. ET on Monday. Thirteen of the 20 assets are trading higher. Leaders: APT (+1.6%) and AAVE (+1.5%). Laggards: BCH (-2.2%) and XRP…
Strategy (MSTR) continued with its customary bitcoin purchases in the last week, adding 2,486 BTC for $168.4 million. The company’s holdings are now 717,131 bitcoin acquired for $54.52 billion, or an average of $76,027 per coin. Bitcoin’s current price sits at $68,000, putting the company at a loss of about $8,000 per coin, or a…
By Omkar Godbole (All times ET unless indicated otherwise) A new Bitcoin Improvement Proposal, BIP-110, which seeks to curb spam-like data clogging the blockchain, is facing backlash from some industry leaders who argue it risks damaging the network’s reputation more than the spam itself. BIP-110 is a “soft fork,” a type of upgrade that works…
Fast food chain Steak ‘n Shake has said its decision to accept bitcoin BTC$68,324.61 nine months ago has seen same-store sales rise “dramatically.” Bitcoin payments are routed directly into its Strategic Bitcoin Reserve, which is then used to fund bonus payments for its employees, according to a statement posted on the company’s X account on…
Bitcoin BTC$68,153.23 is struggling to build any upward momentum, even as the key panic gauge pulls back from its early-month high and hints at renewed stability. Bitcoin’s 30-day implied volatility, the fear or panic gauge, which reflects investors’ expectations for price swings over 4 weeks, has dropped to an annualised 52%, according to data source…
The U.K.’s crypto regulatory framework is moving in the right direction, but not fast enough to support the country’s ambitions of becoming a global digital asset hub, Andrew MacKenzie, CEO of sterling stablecoin developer Agant, told CoinDesk. The government has repeatedly pledged to position London as a center for global crypto and digital asset activity….
Decentralized lending protocol ZeroLEnd is winding down operations after three years, citing unsustainable economics amid inactive blockchains and rising security threats. The protocol, which ran crypto lending markets across various blockchains, said sustained efforts couldn’t overcome challenges such as price data providers dropping support and shrinking liquidity on networks like Manta, Zircuit, and XLAYER. These…
