Bitcoin BTC$67,115.68 recovered 0.7% on Wednesday, but remains at a crucial crossroads after a 9.5% decline since Sunday. The largest cryptocurrency traded recently near $67,000, firmly in the middle of a range that persisted between February and April after a failed breakout attempt above $81,000 last month. If bitcoin tumbles below $60,000 it would probably…
The long-term value of decentralized finance (DeFi) depends on its ability to transform the back-office operations of global banking institutions rather than providing alternative trading environments, according to asset management and banking executives. Speaking on a panel at the Proof of Talk conference in Paris, the executives said legacy financial institutions are eager to adopt…
The future of asset management is shifting on-chain, but the transition is exposing a major structural conflict over traditional corporate revenue. Speaking on a panel at the Proof of Talk summit in Paris, Jenny Johnson, CEO of Franklin Templeton, a $1.74 trillion asset manager, openly addressed the industry hesitation to deploy decentralized networks. According to…
The legacy financial and digital frameworks propping up the current internet architecture face an imminent, existential crisis. Evin McMullen, co-founder and CEO of Billions Network, told CoinDesk in an interview during the Proof of Talk conference in Paris that tech giants and global telcos are actively scrambling to deal with an impending collapse of their…
Crypto traders hoping the market would catch up to the global stock rally were left nursing tears on Wednesday as a sharp price drop triggered the largest liquidation event since early February. Roughly $1.84 billion in crypto leveraged positions were liquidated across the past 24 hours as bitcoin BTC$66,877.88 plunged below $66,000 and ether (ETH)…
The cryptocurrency market is looking at the wrong signals, and a massive shift in how the world’s financial networks operate is happening quietly behind the scenes. In a keynote address at the Proof of Talk conference in Paris, Tom Lee, head of Research at Fundstrat and Chairman of Bitmine Immersion Technologies (BMNR), told his audience…
A U.K. House of Lords committee said the Bank of England (BOE) should reconsider its proposed limits on consumer stablecoin holdings in a new report. The cross-party Financial Services Regulation Committee of the U.K. Parliament’s second chamber also advised reconsideration of requirements for stablecoin issuers to hold at least 40% of backing assets in central…
The infrastructure supporting global computing is undergoing a massive shift. True computing power no longer belongs to isolated corporate data centers, but to open, global networks. Speaking at the Proof of Talk summit in Paris, Bittensor co-founder and Crucible Labs partner Ala Shaabana highlighted the staggering math behind decentralized networks. To show the audience what…
The U.S. Treasury Department blacklisted several Iranian crypto exchanges, including its largest platform Nobitex, on Tuesday as part of its ongoing campaign against the Iranian government. The Treasury’s Office of Foreign Asset Control announced that Nobitex, Wallex, Bitpin and Ramzinex, as well as some of these exchanges’ executives, were being added to its global Specially…
Coinbase Ventures, the investment arm of crypto exchange Coinbase (COIN), said it had backed Ethena (ENA), buying the protocol’s token on the open market as the two firms prepare to launch a new onchain savings product for the exchange’s more than 100 million users. Ethena announced Tuesday that it partnered with Coinbase to expand onchain…
