Payments company PayPal (PYPL) applied for a Utah industrial bank license, it said Monday, with the goal of creating a lending arm called PayPal Bank. The company, which also operates the PYUSD stablecoin through a partnership with Paxos, said in a press release it intends to “provide business lending solutions” to small businesses and interest-bearing…
Pain for crypto bulls persisted on Monday as bitcoin BTC$86,156.49 remained sharply lower during U.S. afternoon trading amid growing investor uncertainty surrounding the macroeconomic outlook. Just after the close of U.S. stock trading, bitcoin was lower by 3% over the past 24 hours to $86,000. XRP$1.8984, ether ETH$2,942.59 and solana SOL$126.01 all fell more than…
Strategy’s (MSTR) junior preferred stock Stride (STRD) saw its credit spread tighten further at the end of last week, possibly highlighting strong demand for the company’s highest-yielding preferred offering. The spread between the yield of STRD and that of the U.S. 10-Year Treasury Note fell to a new low of 8.12% as of Dec. 12,…
Crypto policy is shifting from talk to implementation as the OCC, FDIC and Federal Reserve begin to sketch a regulatory perimeter for stablecoins and tokenized deposits in the U.S., Bank of America said in a Monday report. Recent approvals and proposals mark the start of a multi-year transition that could push more real-world assets and…
Prediction markets are quickly shifting from a niche sideline to an emerging asset class, with monthly volumes around $10 billion, said U.S. bank Citizens. Though tiny next to the more than $10 trillion in U.S. equities, they are growing fast as platforms like Robinhood (HOOD), Kalshi and Polymarket scale. The bank said these markets address…
Strategy (MSTR), the largest publicly traded holder of bitcoin, for the second straight week has aggressively bought the dip in bitcoin BTC$89,557.77. The company acquired 10,645 bitcoin last week for $980.3 million, or an average price of $92,098 each. Total holdings rose to 671,268 BTC acquired for $50.33 billion, or an average of $74,972 per…
JPMorgan Chase, a global bank with $4 trillion of assets under management, is rolling out a tokenized money-market fund on Ethereum, pushing deeper into blockchain-based finance amid growing demand from institutional clients, the Wall Street Journal reported first on Monday. The fund, dubbed My OnChain Net Yield Fund (MONY) is seeded with $100 million from…
A weekend sell-off in a Nasdaq 100–linked perpetual futures market on EdgeX triggered roughly $13 million in liquidations, highlighting the risks of trading equity-index perps when underlying traditional markets are closed. On Saturday, a newly created wallet began executing a six-hour time-weighted average price (TWAP) order to short 398 XYZ100 contracts, worth roughly $10 million,…
The coming week will be dominated by data from the wider economy, with employment and inflation reports in the U.S. and interest-rate decisions in Japan and Europe. Coinbase, the largest publicly traded crypto exchange, announces a system update that is expected to include an in-house prediction market. U.S. nonfarm payrolls data, usually released on the…
This is a technical analysis post by CoinDesk analyst and Chartered Market Technician Omkar Godbole. Bitcoin’s BTC$89,629.86 three-week price bounce looks vulnerable to a reversal as the Nasdaq, Wall Street’s tech-heavy index, hit a wall last week, hinting at potential trouble ahead. Since hitting $80,000 lows on Nov. 21, BTC has steadily bounced above $90,000,…
