The knee-jerk reaction to Donald Trump’s pick of Kevin Warsh to replace Jerome Powell as chairman of the Federal Reserve is that the president made the most hawkish selection among the four reported finalists for the job. In the wake of last night’s leak that Warsh was to be the choice, risk markets — crypto…
:Crypto Daybook Americas By Omkar Godbole (All times ET unless indicated otherwise) The crypto market’s beating on Thursday spurred industry heavyweights into “plunge protection” mode, a term for coordinated moves to steady a sinking ship. As bitcoin neared $81,000, the lowest since November, and analysts warned of a deeper drop, Binance sprang into action. The…
Bitcoin BTC$82,746.90 is on track to end January underperforming gold for the sixth straight month as investors ignore the largest cryptocurrency’s “digital gold” moniker and seek the safety of a metal that’s historically been seen as a haven in times of economic and geopolitical turmoil. The bitcoin-to-gold ratio, the amount of gold equivalent to 1…
Ethereum co-founder Vitalik Buterin said the Ethereum Foundation (EF) is entering a period of “mild austerity,” as it seeks to deliver an aggressive scaling roadmap while ensuring it can sustain itself over the long term. In a post on X, Buterin said he has personally withdrawn 16,384 ETH, worth roughly $17.3 million at current market…
Top cryptocurrency exchange Binance announced said Friday that it shall switch the stablecoin in its $1 billion emergency user protection fund to bitcoin over the next 30 days. The move targets the Secure asset Fund for Users (SAFU), which is a security fund created to protect users from losses due to unforeseen events such as…
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token. The…
Bitcoin’s BTC$82,604.77 price continued to pull back in late Thursday evening U.S. hours, tumbling to as low as $81,000 before bouncing to the current $82,000. The world’s largest cryptocurrency has now lost nearly $10,000 over the past 24 hours of trading. More than $777 million in crypto longs were liquidated over the past hour, with…
Circle (CRCL), the stablecoin issuer behind USDC, got a second upgrade by Wall Street analysts in a week, and this time by its biggest bear. Compass Point’s Ed Engel, who had a sell rating and the lowest price target among analysts, has upgraded the stock to Neutral just a day after Mizuho’s Dan Dolev revised…
The central bank of El Salvador, the tiny bitcoin-friendly nation in Central America, added $50 million worth of gold to its reserves, the institution said Thursday in an X post. The purchase — 9,298 troy ounces — brings the country’s total gold holdings to 67,403 ounces, valued at roughly $360 million at current prices President…
Crypto custody firm Copper is in early talks about a public listing, according to three people with knowledge of the matter. Goldman Sachs, Citi and Deutsche Bank are among the investment banks potentially involved, according to one source. The decision on whether to pursue a listing will hinge on the company’s near-term revenue performance, a…
