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Pudgy Penguins’ Layer 2 Network, Abstract, Struggles to Attract Liquidity
Abstract, the layer-2 network rolled out this week by Pudgy Penguins, is off to a muted start despite offering a series of incentives to new users.
The network notched 711,000 user transactions on the day of release, but that respectable total has been overshadowed by a lack of inflows. Its total value secured (TVS) was standing at just $33 million worth of ether (ETH) and stablecoins, a far cry from the tens of billions of dollars distributed across other hyped layer 2 networks.
The platform'
The network notched 711,000 user transactions on the day of release, but that respectable total has been overshadowed by a lack of inflows. Its total value secured (TVS) was standing at just $33 million worth of ether (ETH) and stablecoins, a far cry from the tens of billions of dollars distributed across other hyped layer 2 networks.
The platform'
TRUMP Memecoins Can Now Be Used to Buy Donald Trump Merchandise
Several marketplaces hawking Donald Trump-branded merchandise, including GetTrumpWatches.com, GetTrumpFragrances.com, and GetTrumpSneakers.com, have started accepting the Trump memecoin as a payment method alongside credit cards and bitcoin (BTC).
Payments options now include TRUMP and will be processed by Solana Pay, a decentralized payment system that allows users to send money directly to merchants without intermediaries.
The watches will be made-to-order and start shipping from October onw
Payments options now include TRUMP and will be processed by Solana Pay, a decentralized payment system that allows users to send money directly to merchants without intermediaries.
The watches will be made-to-order and start shipping from October onw
Crypto Consortium T3 FCU Helps Spanish Authorities Freeze $26.4M Linked to Crime Syndicate
Spanish authorities are crediting the T3 Financial Crime Unit, a consortium made up of Tron, Tether, and TRM Labs, for helping take down a multinational European financial crime syndicate.
According to Spain's Guardia Civil, the crime syndicate operated across multiple European jurisdictions, providing cash-to-crypto laundering services for criminal enterprises.
T3 said it seized $26.4 million, calling it the most significant coordinated freeze it has been involved with since its launch last y
According to Spain's Guardia Civil, the crime syndicate operated across multiple European jurisdictions, providing cash-to-crypto laundering services for criminal enterprises.
T3 said it seized $26.4 million, calling it the most significant coordinated freeze it has been involved with since its launch last y
Long-Term Bitcoin Holders Are Spending Their BTC, a Bullish Signal, Analysts Say
If someone told you that stock market investors are offloading their cherished holdings, you will most likely interpret it as a sign of an impending market downturn.
The narrative, however, differs in the crypto market, where such selling indicates bullishness, according to analysts observing historical trends in the supply held by long-term investors or wallets holding coins for at least 155 days or over five months.
"Based on our analysis, sharp declines in long-term holder supply (purple li
The narrative, however, differs in the crypto market, where such selling indicates bullishness, according to analysts observing historical trends in the supply held by long-term investors or wallets holding coins for at least 155 days or over five months.
"Based on our analysis, sharp declines in long-term holder supply (purple li
Polymarket Still Skeptical of U.S Bitcoin Reserve Despite David Sacks' Assurance
Polymarket only sees a 16% chance that the Donald Trump will order the creation of a strategic bitcoin (BTC) reserve in the first 100 days of its administration, despite assurances from crypto czar David Sacks that there's an effort underway to explore the idea.
"President Trump has asked us to study that issue, so we are not ready to comment on it yet. But it's one of the things our working groups are going to look at," Sacks said in a recent appearance on Fox.
Senator Cynthia Lummis, a Wyomi
"President Trump has asked us to study that issue, so we are not ready to comment on it yet. But it's one of the things our working groups are going to look at," Sacks said in a recent appearance on Fox.
Senator Cynthia Lummis, a Wyomi
Tesla Marked Up Bitcoin Holdings Valuation in Q4, Booking a $600M Gain
Elon Musk's Tesla (TSLA) appeared to take advantage of a new accounting rule allowing for holdings of digital assets to be marked-to-market each quarter.
The company's fourth quarter earnings report shows its 9,720 bitcoin valued at $1.076 billion as of the end of 2024. That's up from what had been $184 million for several quarters prior. Alongside that change, Tesla also recorded a GAAP income boost of $600 million on its digital holdings. For perspective, the company had overall GAAP income o
The company's fourth quarter earnings report shows its 9,720 bitcoin valued at $1.076 billion as of the end of 2024. That's up from what had been $184 million for several quarters prior. Alongside that change, Tesla also recorded a GAAP income boost of $600 million on its digital holdings. For perspective, the company had overall GAAP income o
Cardano’s Plomin Hard Fork Goes Live, Ushering in On-Chain Governance
Cardano, the layer-1 blockchain launched in 2017 by Ethereum co-founder Charles Hoskinson, activated its highly anticipated “Plomin” upgrade on Wednesday, ushering in the ecosystem's long-awaited move towards a decentralized governance system.
With the Plomin upgrade now live, ADA token holders will be able to shape Cardano's future, including voting on treasury measures and hard forks.
Plomin comes just four months after Cardano implemented the “Chang” hard fork, which put in place many of th
With the Plomin upgrade now live, ADA token holders will be able to shape Cardano's future, including voting on treasury measures and hard forks.
Plomin comes just four months after Cardano implemented the “Chang” hard fork, which put in place many of th
The Dawn of PolicyFi
Are we witnessing the dawn of PolicyFi?
In an earlier article on why memecoins matter, I argued that memecoins are ushering in a new era of civic engagement by forming speculative markets in which citizens are able to trade coins tied to government policies. I suggested that holder distributions and market caps in those markets would signal popular support for underlying policies to lawmakers, who would then take them into account when crafting public policy, fostering a new form of political d
In an earlier article on why memecoins matter, I argued that memecoins are ushering in a new era of civic engagement by forming speculative markets in which citizens are able to trade coins tied to government policies. I suggested that holder distributions and market caps in those markets would signal popular support for underlying policies to lawmakers, who would then take them into account when crafting public policy, fostering a new form of political d
The Protocol: Movement Labs Develops Dev Mainnet
Welcome to The Protocol, CoinDesk's weekly wrap-up of the most important stories in cryptocurrency tech development. I'm Ben Schiller, CoinDesk’s Opinion and Features editor.
In this issue:
Movement Labs rolls out dev mainnet
Cardano hard forks to decentralized governance
SSV DAO unveils SSC 2.0
Musk pushes blockchain in government
Network News
MOVEMENT LABS ROLLS OUT DEVNET: Blockchain firm Movement Labs has deployed a developer mainnet to advance its goal of bringing Facebook (META)'s M
In this issue:
Movement Labs rolls out dev mainnet
Cardano hard forks to decentralized governance
SSV DAO unveils SSC 2.0
Musk pushes blockchain in government
Network News
MOVEMENT LABS ROLLS OUT DEVNET: Blockchain firm Movement Labs has deployed a developer mainnet to advance its goal of bringing Facebook (META)'s M
Sandboxes Are a Way Out of the Regulatory Sandstorm
Regulation by enforcement is beginning to crumble, with a court recently ruling that the SEC’s refusal to issue a crypto rule was unlawful. A new crypto-friendly administration stands ready to create crypto clarity through new appointments at the SEC and the CFTC.
New acting CFTC Chair Caroline Pham has proposed an uncommon approach, namely the regulatory sandbox.
A regulatory sandbox is a waiver of regulations but in a supervised environment. Projects can test innovative ideas outside rigid r
New acting CFTC Chair Caroline Pham has proposed an uncommon approach, namely the regulatory sandbox.
A regulatory sandbox is a waiver of regulations but in a supervised environment. Projects can test innovative ideas outside rigid r
Canary Capital's ETF Plans Took Shape Thanks to Trump
Canary Capital didn’t even exist when the spot bitcoin or even the spot ethe rexchange-traded funds launched last year.
But the company quickly made a name for itself in the business.
Founded only last October, Canary Capital has quickly pushed out several applications for crypto ETFs, including ones for Solana (SOL), XRP (XRP), Litecoin (LTC) and Hedera (HBAR), with the latter two being the first ETF applications of their kind.
From the outside, it seemed as though the firm had it all planne
But the company quickly made a name for itself in the business.
Founded only last October, Canary Capital has quickly pushed out several applications for crypto ETFs, including ones for Solana (SOL), XRP (XRP), Litecoin (LTC) and Hedera (HBAR), with the latter two being the first ETF applications of their kind.
From the outside, it seemed as though the firm had it all planne
Fed Holds Rates Steady, Takes Note of Elevated Inflation
As expected, the U.S. Federal Reserve has kept its benchmark fed funds range rate steady at 4.25%-4.50%, the first pause since the central bank began easing policy last September.
The accompanying policy statement noted that the unemployment rate had stabilized at a "low level" and inflation remained "somewhat elevated." The wording was hawkish as it removed last month's reference to "progress" on inflation moving to its 2% target.
Under pressure for most of this week, the price of bitcoin (BT
The accompanying policy statement noted that the unemployment rate had stabilized at a "low level" and inflation remained "somewhat elevated." The wording was hawkish as it removed last month's reference to "progress" on inflation moving to its 2% target.
Under pressure for most of this week, the price of bitcoin (BT
Robinhood CEO Warns Lack of U.S. Regulation Stifles Security Tokenization Efforts
Current U.S. regulations are blocking a major financial shift that could open up private-market investments to everyday investors through tokenization, CEO of digital brokerage Robinhood Vlad Tenev said.
In a Wednesday opinion piece for the Washington Post, Tenev said that many high-growth companies like OpenAI, SpaceX and Stripe are increasingly avoiding going public, limiting investment access to a small circle of wealthy investors, widening the investment gap between retail investors.
Token
In a Wednesday opinion piece for the Washington Post, Tenev said that many high-growth companies like OpenAI, SpaceX and Stripe are increasingly avoiding going public, limiting investment access to a small circle of wealthy investors, widening the investment gap between retail investors.
Token
As Lutnick Faces U.S. Senate, Elizabeth Warren Scrutinizes His Tether Ties
Howard Lutnick, who is President Donald Trump's nominee to be secretary of Commerce, is drawing scrutiny on his relationship with Tether from Senator Elizabeth Warren — the ranking Democrat on the Senate Banking Committee and one of Congress' most reliable critics of the digital asset sector.
As CEO of Cantor Fitzgerald, the Wall Street firm that acts as the U.S. banker for leading global stablecoin issuer Tether, the Massachusetts Democrat said Lutnick backed a crypto operation with "clear tie
As CEO of Cantor Fitzgerald, the Wall Street firm that acts as the U.S. banker for leading global stablecoin issuer Tether, the Massachusetts Democrat said Lutnick backed a crypto operation with "clear tie
Why Web3 Doesn't Have More Users
The year is 2025. It’s more than 16 years since the Bitcoin whitepaper was published and 10 years since the launch of Ethereum, and the programmable smart contract layer that came with it. With billions of dollars invested in the industry, and tens of thousands of developers contributing thousands of applications, primitives, and protocols, surely there would be plentiful turnkey Web3 toolsets available to broaden adoption?
Unfortunately the answer is a resounding “No.”
You're reading Crypto L
Unfortunately the answer is a resounding “No.”
You're reading Crypto L
Bitcoin Miner Riot Platforms Targeted By Second Activist Investor: Reuters
Bitcoin miner Riot Platforms (RIOT) finds itself a target of a second activist investor, with Reuters reporting investment management giant D.E. Shaw as having taken an unspecified stake.
The move by D.E. Shaw, which manages $70 billion in assets, comes just weeks after another activist investor, Starboard Value (roughly $9 billion in AUM), took a position in Riot. At the time of Starboard's investment, the WSJ reported the investor as pushing Riot to convert some of its bitcoin mining sites in
The move by D.E. Shaw, which manages $70 billion in assets, comes just weeks after another activist investor, Starboard Value (roughly $9 billion in AUM), took a position in Riot. At the time of Starboard's investment, the WSJ reported the investor as pushing Riot to convert some of its bitcoin mining sites in
Bitcoin Market Projection for 2025
Price outlook
Our analysis for 2025 forecasts bitcoin reaching a target of $150,000 in the first half of the year. However, an initial pullback may occur in Q1 if the newly inaugurated Trump administration fails to introduce the anticipated “Strategic Bitcoin Reserve” at the pace expected by the fast-moving crypto market.
Even without a fully implemented reserve strategy, bitcoin is expected to rally, driven by bullish momentum. We anticipate the price to enter the $130,000–$150,000 range by Q
Our analysis for 2025 forecasts bitcoin reaching a target of $150,000 in the first half of the year. However, an initial pullback may occur in Q1 if the newly inaugurated Trump administration fails to introduce the anticipated “Strategic Bitcoin Reserve” at the pace expected by the fast-moving crypto market.
Even without a fully implemented reserve strategy, bitcoin is expected to rally, driven by bullish momentum. We anticipate the price to enter the $130,000–$150,000 range by Q
How AI Agents and Crypto Will Revolutionize Commerce
Web3 technologies are poised to transform the world of commerce just as Web2 revolutionized access to information. The result will be a vast, open, liquid digital marketplace where all physical goods can be listed and traded seamlessly.
In the early days of the internet, information was siloed within proprietary networks. Over time, the zero marginal cost of distribution, combined with consumer demand for accessibility, led to the open, searchable internet we enjoy today.
Commerce, however, ha
In the early days of the internet, information was siloed within proprietary networks. Over time, the zero marginal cost of distribution, combined with consumer demand for accessibility, led to the open, searchable internet we enjoy today.
Commerce, however, ha
Fairshake's Florida Wins Likely to Amp Up List of Crypto-Supported Allies in Congress
The crypto political action committee that stunned U.S. politics last year, Fairshake, successfully weighed in again in a pair of Florida special elections to replace Republican members of Congress, likely adding to its list of lawmakers who have the industry to thank for campaign support.
A primary election closed Tuesday night, giving pro-crypto candidates supported by $700,000 in Fairshake money overwhelming victories in both seats. Florida's 1st District vacated by former Representative Mat
A primary election closed Tuesday night, giving pro-crypto candidates supported by $700,000 in Fairshake money overwhelming victories in both seats. Florida's 1st District vacated by former Representative Mat
Institutions Are Primed for MicroStrategy's Preferred Stock Sale, Say Analysts
Disclaimer: The analyst who wrote this piece owns shares of MicroStrategy (MSTR).
To say that MicroStrategy (MSTR) has been at the lead of creatively raising capital with which to buy massive amounts of bitcoin (BTC) would be an understatement. Led by Executive Chairman Michael Saylor, the company this week opened a new front along those lines with its perpetual preferred stock offering (STRK).
Preferred stock sits between equity and debt on the corporate balance sheet, offering investors the
To say that MicroStrategy (MSTR) has been at the lead of creatively raising capital with which to buy massive amounts of bitcoin (BTC) would be an understatement. Led by Executive Chairman Michael Saylor, the company this week opened a new front along those lines with its perpetual preferred stock offering (STRK).
Preferred stock sits between equity and debt on the corporate balance sheet, offering investors the