The Bitcoin Sharpe ratio, which measures risk/reward potential, is in negative territory that is often associated with the end of bear markets, according to CryptoQuant analyst Darkfost. “The Sharpe ratio has just entered a particularly interesting zone, one that has historically aligned with the final phases of bear markets,” said the analyst on X on…
The Federal Reserve has heard arguments from crypto companies and banking associations on a proposal to allow so-called “skinny master accounts,” which would give fintech firms limited access to the central bank’s payments infrastructure. The Fed received 44 comments in response to its proposal, which closed on Friday, seeking feedback on offering a “payment account,”…
Digital asset manager CoinShares has brushed aside concerns that quantum computers could soon shake up the Bitcoin market, arguing that only a fraction of coins are held in wallets worth attacking. In a post on Friday, CoinShares Bitcoin research lead Christopher Bendiksen argued that just 10,230 Bitcoin (BTC) of 1.63 million Bitcoin sit in wallet…
Japan’s Nikkei 225 surged to a record on Monday, breaching the 57,000 level with a 3.4% gain following Prime Minister Sanae Takaichi’s decisive “supermajority” victory in the Sunday general election, according to Nikkei Asia. This political mandate signaled a green light for Takaichi’s aggressive expansionary fiscal agenda, which includes a massive $135 billion stimulus package…
Prominent crypto venture capitalists are clashing online about whether non-financial use cases in crypto, Web3, and blockchain have failed due to a lack of investor demand and product-market fit or if the best days for non-financial applications still lay ahead. The debate started on Friday when Chris Dixon, a managing partner at venture capital firm…
Whether the Federal Reserve is engaging in quantitative easing is purely semantic, according to Alden, who says all roads lead to debasement. The US Federal Reserve is entering into a “gradual” era of money printing that will stimulate asset prices “mildly” but will not be as dramatic as the “big print” that many in the…
With crypto’s multi-month downturn accelerating into a freefall last week, bulls were frantically grasping for technical signals, or maybe yarns about the blowup of some leveraged hedge fund, that might signal a final bottom for this bear market. Perhaps the ultimate sign of a bottom, though, might be the cheers arising from those who have…
CoinDesk is hosting its second annual Consensus Hong Kong conference, and as always, we’ll have a number of policy-focused sessions. Are you in town? Find me on stage or around the show floor and say hi! You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to…
Traders on prediction market Polymarket have doubled the implied odds of the Second Coming of Jesus Christ occurring by year-end, turning one of the platform’s stranger contracts into a better performer than bitcoin. The market, titled “Will Jesus return in 2026,” traded around 4 cents on Friday, implying a roughly 4% chance. That’s up from…
Block Inc. (XYZ), the payments company run by Jack Dorsey, may reduce its workforce by as much as 10%, Bloomberg reported, citing people familiar with the matter. Hundreds of employees at the bitcoin BTC$71,300.65-supporting owner of Cash App and Square have been told their jobs are at risk, Bloomberg said. The reviews are part of…
