Bitcoin clawed its way back above $71,000 on Thursday after a sharp selloff earlier in the day dragged prices briefly below the $70,000 mark, mirroring tentative stabilization across global markets. The move came as a broader rout in technology stocks showed signs of fatigue. Futures tied to the Nasdaq 100 edged higher after two bruising…
Crypto billionaire Justin Sun endorsed Tron Inc.’s strategy of stacking the TRX token, which has recently outperformed bitcoin BTC$70,853.46, as a core treasury asset, spotlighting their latest dip buy with a simple “keep going” on X. The Nasdaq-listed Tron Inc. announced that it acquired 175,507 TRX tokens on Wednesday at an average price of $0.28,…
Good Morning, Asia. Here’s what’s making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas. Bitcoin is entering the Asian trading day with on-chain data flashing full…
Kyle Samani, co-founder of crypto investment firm Multicoin Capital, is stepping down from his role as managing director, he announced Wednesday in a post on X. “It’s a bittersweet moment for me because my time at Multicoin has been some of the most meaningful and rewarding of my life,” Samani wrote. “After nearly a decade…
CME Group CEO Terry Duffy has suggested the derivatives giant is exploring launching its own cryptocurrency. In response to a question from Morgan Stanley’s Michael Cyprys during the company’s latest earnings call, Duffy confirmed the firm is exploring “initiatives with our own coin that we could potentially put on a decentralized network.” The comment was…
ProShares unveiled the first U.S.-listed exchange-traded fund (ETF) designed to target the performance of the CoinDesk 20 Index, expanding options for investors seeking broad exposure to crypto markets. The CoinDesk 20 Crypto ETF (KRYP) is the first ETF tied to the benchmark of 20 of the largest and most liquid digital assets, ProShares said in…
TRM Labs, a blockchain analytics startup used by global law enforcement and financial firms, has raised $70 million in a new funding round that pushed its valuation to $1 billion. The Series C round, Fortune reports, was led by Blockchain Capital with participation from Goldman Sachs, Citi Ventures, Bessemer, Thoma Bravo and Brevan Howard. The…
The hype around cryptocurrency companies going public is waning because markets are still viewed as insufficiently large for the traditional finance (TradFi) firms that are taking an increased interest in the industry. Fewer investors feel as confident as they did last year, according to a report from the influential CfC St. Moritz, Switzerland crypto conference,…
Savvy traders use a bunch of tools to analyze markets. The relative strength index (RSI) is one of the most popular ones, sniffing out trend strength and momentum extremes. Right now, the RSI is signaling that bitcoin is oversold, suggesting the recent sell-off has been too intense, and prices could see a relief bounce. But…
Michael Burry, the investor known for predicting the 2008 financial crisis, warned that bitcoin’s BTC$76,635.99 recent drop could have ripple effects across markets, particularly in gold and silver. In a Substack post Monday, Burry said crypto’s decline may have forced institutional investors and corporate treasurers to unload positions in other assets to cover losses. “It…
