Europe may struggle to contain a financial shock tied to crypto firms and banks because its crisis tools are more limited than those used in the U.S. during the 2023 banking turmoil, a senior official with European bank UniCredit said Thursday. Elena Carletti, UniCredit’s deputy vice chair and head of the board’s risk committee, said…
Latest developments: Bitwise is leaning into Hyperliquid as one of crypto’s breakout platforms this cycle. Bitwise Head of Research Ryan Rasmussen said the firm is seeing strong investor interest in its HYPE ETF products following the recent launch of BHYP. Rasmussen said Bitwise differentiates itself by staking HYPE in-house to maximize yield for ETF investors….
The Ethereum Foundation, the nonprofit organization that has long served as the closest thing Ethereum has to a central steward, has been facing renewed questions about its future after a wave of high-profile departures and mounting criticism from across the crypto industry. In recent weeks, critics have accused the foundation of becoming insular, slow-moving and…
Latest developments: Calamos says its protected Bitcoin ETFs are attracting inflows even as spot Bitcoin ETFs see redemptions. Matt Kaufman, head of ETFs at Calamos, said the firm saw roughly $10 million to $15 million in inflows over the past several weeks. Kaufman said advisors are increasingly looking for Bitcoin exposure that reduces volatility and…
Crypto trading firm FalconX has confidentially filed a draft S-1 registration statement with the Securities and Exchange Commission (SEC), the initial step toward a potential public listing, according to a person with knowledge of the matter. FalconX has hired Wall Street heavyweight Cantor and other bankers to advise on its initial public offering (IPO), the…
Stablecoin giant Tether’s U.S.-focused digital dollar token USAT (USAT) expanded more than sixfold month-over-month in April, it still lags far behind its rivals. According to the latest reserve report signed by Deloitte and published Thursday, the token’s circulating supply hit $140.8 million as of April 30, up from $22 million in March and posting a…
Hyperliquid’s SPACEX-USDH perpetual contract suffered a violent flash crash on Thursday afternoon, plunging from an open of $2,277 to a low of $1,254, a near-45% collapse, within a single 30-minute window before partially recovering to around $2,169. The move liquidated 405 users across 1,393 positions, wiping $1.51 million in notional value, Hyperliquid data shows. What…
Sui network, a layer 1 blockchain developed by Mysten Labs, is experiencing a network outage on Thursday after the project said its mainnet had “stalled,” temporarily halting transaction processing. “Sui Mainnet is currently experiencing a network stall. The Sui Core team is actively working on a solution,” the project posted on X. “Be aware that…
In today’s newsletter, Hassan Ahmed outlines the state of crypto, stablecoins and regulations in Asia, comparing growth to regions with clarity. Then, in “Ask an Expert,” Xin Yan, CEO of Sign, answers questions about crypto and stablecoin adoption in Asia. Crypto Adoption In Asia: What Advisors Need To Know The reality of crypto in Asia…
The “debasement trade” that drove strong demand for bitcoin BTC$72,779.62 and gold during recent geopolitical tensions is beginning to lose momentum, according to JPMorgan analysts led by Nikolaos Panigirtzoglou. In a report on Thursday, the bank argued investors have started pulling capital from both bitcoin and gold exchange-traded funds (ETFs) at the same time as…
