Alibaba’s global business-to-business platform is moving to streamline cross-border payments by using tokenized versions of major currencies, part of a broader shift toward blockchain-based settlement in global commerce. Kuo Zhang, president of Alibaba.com, told CNBC that the platform plans to begin using tokenized deposits backed by fiat currencies such as the U.S. dollar and euro….
For months now, bitcoin has followed a frustratingly familiar pattern for the bulls: seemingly over-correlated with the Nasdaq 100 when that stock gauge headed lower, but losing nearly all correlation when the leading tech index moved higher. This week proved no different, with the Nasdaq tumbling on 2% on Thursday and bitcoin plunging twice as…
Crypto market sentiment has deteriorated sharply, with the Fear & Greed Index dropping to 10, a level indicating “extreme fear,” marking a near nine-month low as it’s the lowest reading since late February. The plunge in sentiment follows a week of losses across major cryptocurrencies, led by bitcoin’s decline to just under $96,000 in a…
Crypto markets might look calmer after October’s leverage wipeout, but under the surface, liquidity remains absent. Data from CoinDesk Research shows that order-book depth across major centralized exchanges remains structurally lower, suggesting a more cautious market-making environment heading into year-end. This environment paves the way for thinner markets and sharper moves, increasing the likelihood that…
Ignore the noise, says Strategy (MSTR) Executive Chairman Michael Saylor. With bitcoin BTC$96,205.84 and Strategy’s stock continuing their steep slides, Saylor in a Friday morning CNBC appearance said his company remains committed to its BTC accumulation strategy. “We are buying bitcoin, we’ll report our next buys on Monday morning,” Saylor said, adding that the company…
Ethereum’s ether ETH$3,171.33 fell sharply from Thursday to Friday, plunging over 10% from peak to trough a broad-market crypto selloff accelerated with bitcoin breaking below the $100,000 level. The second largest cryptocurrency tumbled from $3,565 earlier on Thursday to $3,060 by early Friday, erasing all of past week’s rebound. It recently stabilized just below $3,200,…
Canary Capital will likely hit pause on new crypto exchange-traded fund (ETF) filings for the remainder of the year, with CEO Steve McClurg saying the firm has already submitted applications for every token currently eligible under existing regulatory guidelines. Speaking in an interview with CoinDesk, McClurg said the XRP ETF launched this week and a…
BlackRock’s tokenized U.S. Treasury fund (BUIDL), issued by Securitize, will now be accepted as collateral for institutional trading on Binance, the world’s largest crypto exchange by volume, the firms said in a Friday press release. Using BUIDL as off-exchange collateral means traders can post the token with a custody partner, rather than directly on the…
Brutal selloff breaks psychological $2.30 floor, erasing recent gains as distribution overwhelms historic XRPC debut. News Background XRP’s worst intraday decline in weeks coincided with a major industry milestone: the launch of the first U.S. spot XRP ETF, Canary Capital’s XRPC, now officially effective on Nasdaq as of 5:30 PM ET. The listing marks a…
Bitcoin BTC$95,137.82 saw no bounce Friday, holding at session lows below $95,000 late in the U.S. day after a bruising week that dragged prices to their lowest since May. The largest cryptocurrency is again underperforming U.S. stocks, with major U.S. indices holding onto minor gains a few minutes prior to the end of trading. BTC…
