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Trump-Backed Mike Johnson Re-Elected Speaker of the House
Rep. Mike Johnson (R-Louisiana) will get to keep the big gavel after his fellow Republicans voted to re-elect him House Speaker on Friday afternoon.
Johnson, who has been publicly backed by President-elect Donald Trump, was able to garner the minimum 218 votes needed to win the job in the first round of voting, though he had to persuade two of his fellow Republicans – Rep. Ralph Norman (R-South Carolina) and Rep. Keith Self (R-Texas) – who initially voted for other candidates to change their vo
Johnson, who has been publicly backed by President-elect Donald Trump, was able to garner the minimum 218 votes needed to win the job in the first round of voting, though he had to persuade two of his fellow Republicans – Rep. Ralph Norman (R-South Carolina) and Rep. Keith Self (R-Texas) – who initially voted for other candidates to change their vo
Edith Yeung Sees Big Things to Come for Crypto in Hong Kong
As the co-founder and general partner at early stage venture capital fund Race Capital, Edith Yeung has had a front-row seat on the development of the crypto sector, particularly in Hong Kong, where she was born and raised. Most notably, she was a seed investor in Solana, investing $250,000 when SOL was valued at just $0.04, and also was an early investor in Lightning Network. Since 2017, Yeung has also authored the China Internet report, an influential annual survey of technology trends in Chin
How Chinese Lending Firm Cango Became a Bitcoin Mining Powerhouse
The bitcoin (BTC) mining industry was shaken up in the last months of 2024 by the sudden entrance of a new player: Cango (CANG), a Chinese firm that specializes in providing loans to automobile buyers.
Based in Shanghai and valued at $363 million on the stock market, Cango is in the process of acquiring 50 exahashes per second (EH/s) worth of mining power, meaning that the auto lending platform will become one of the largest bitcoin miners in the world once its entire fleet goes online.
“I gue
Based in Shanghai and valued at $363 million on the stock market, Cango is in the process of acquiring 50 exahashes per second (EH/s) worth of mining power, meaning that the auto lending platform will become one of the largest bitcoin miners in the world once its entire fleet goes online.
“I gue
CoinDesk 20 Performance Update: ADA Gains 12%, Leading Index Higher
CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.
The CoinDesk 20 is currently trading at 3594.2, up 1.8% (+64.6) since 4 p.m. ET on Thursday.
19 of 20 assets are trading higher.
Leaders: ADA (+12.0%) and ICP (+10.6%).
Laggards: BTC (-1.0%) and ETH (+0.6%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
The CoinDesk 20 is currently trading at 3594.2, up 1.8% (+64.6) since 4 p.m. ET on Thursday.
19 of 20 assets are trading higher.
Leaders: ADA (+12.0%) and ICP (+10.6%).
Laggards: BTC (-1.0%) and ETH (+0.6%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
SPX6900 Sets Record Highs While Trendy ‘AI Agents’ See Profit-Taking
A crypto cult hoping to flip the entire U.S. stock market just moved closer to its bizarre goal, although with trillions of dollars more to go.
SPX6900 (SPX) crossed a $1.1 billion capitalization earlier Friday to set a new record above $1.25, breaking a November high of 90 cents, amid renewed interest in memecoin cults on Crypto Twitter.
That came as AI Agent projects virtuals (VIRTUALS), ai16z (AI16Z) and the broader category fell by 8% on average, amid criticism of their claimed AI models,
SPX6900 (SPX) crossed a $1.1 billion capitalization earlier Friday to set a new record above $1.25, breaking a November high of 90 cents, amid renewed interest in memecoin cults on Crypto Twitter.
That came as AI Agent projects virtuals (VIRTUALS), ai16z (AI16Z) and the broader category fell by 8% on average, amid criticism of their claimed AI models,
Bitcoin Buyers Saw 40% Gain on Average Last Year, Realized Price Shows
The bitcoin (BTC) price may have more than doubled last year, but investors who bought the largest cryptocurrency during 2024 saw, on average, only a fraction of that according to a measure known as the realized price.
The realized price is the average value of all bitcoin calculated at the price at which the tokens last moved on-chain. While that value is around $41,000 for BTC since its inception in 2009, for coins bought last year it was around $65,901 by Dec. 31. With the market price closi
The realized price is the average value of all bitcoin calculated at the price at which the tokens last moved on-chain. While that value is around $41,000 for BTC since its inception in 2009, for coins bought last year it was around $65,901 by Dec. 31. With the market price closi
Do Kwon Pleads Not Guilty to Fraud Following Extradition to US: Reuters
Do Kwon, founder of the failed Terra Luna crypto ecosystem, pleaded not guilty to charges of fraud following his Dec. 31 extradition to the U.S., Reuters reported on Thursday.
Kwon's Terraform Labs developed the luna cryptocurrency and algorithmic stablecoin terraUSD, which collapsed in 2022 with the loss of an estimated $40 billion. Kwon faces charges that include securities fraud, wire fraud, commodities fraud and money laundering conspiracy.
Federal prosecutors allege that Kwon misled inves
Kwon's Terraform Labs developed the luna cryptocurrency and algorithmic stablecoin terraUSD, which collapsed in 2022 with the loss of an estimated $40 billion. Kwon faces charges that include securities fraud, wire fraud, commodities fraud and money laundering conspiracy.
Federal prosecutors allege that Kwon misled inves
Ether's Record Leverage Ratio of 0.57 Is Over Double That of Bitcoin
While bitcoin (BTC) grabs all the eyeballs from institutional narratives, Ethereum's ether (ETH) stands out as the go-to major token for traders looking to maximize returns through leverage.
Ether's estimated leverage ratio, which measures the degree of leverage employed by traders, climbed to a new high of 0.57 on Wednesday, marking a significant increase from 0.37 at the start of the final quarter of 2024, data tracked by analytics firm CryptoQuant shows.
The ratio is calculated by dividing
Ether's estimated leverage ratio, which measures the degree of leverage employed by traders, climbed to a new high of 0.57 on Wednesday, marking a significant increase from 0.37 at the start of the final quarter of 2024, data tracked by analytics firm CryptoQuant shows.
The ratio is calculated by dividing
Bitcoin's Computing Power May Hit a Major Milestone Long Before Next Halving
Bitcoin's (BTC) hashrate, the computational energy needed to mine a block in a proof-of-work blockchain, is on track to reach 1 zettahash per second before the next halving event in about 3.5 years, putting miners under pressure to secure cheap power deals and more efficient equipment.
The average hashrate could reach that level, equivalent to 1,000 exahash per second (EH/s), by 2027 even if it rises at the rather sedate pace of 20% a year. It's grown an average of 65% a year since 2020 and is
The average hashrate could reach that level, equivalent to 1,000 exahash per second (EH/s), by 2027 even if it rises at the rather sedate pace of 20% a year. It's grown an average of 65% a year since 2020 and is
Cardano’s ADA Zooms Above $1 As Bitcoin Remains Rangebound
Programmable blockchain Cardano’s ADA token jumped 12% in the past 24 hours to lead gains among crypto majors, with rangebound trading in bitcoin (BTC) influencing the broader market.
ADA crossed $1, a three-week high, as BTC, ether (ETH), Solana’s SOL and dogecoin (DOGE) added under 2%. The broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens by market cap, rose 1.57%.
Traders expect bitcoin price-action to remain rangebound until late January, with gains expected from F
ADA crossed $1, a three-week high, as BTC, ether (ETH), Solana’s SOL and dogecoin (DOGE) added under 2%. The broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens by market cap, rose 1.57%.
Traders expect bitcoin price-action to remain rangebound until late January, with gains expected from F
Beware of Bitcoin's 'Shooting Star' Warning At Record Highs: Godbole
Bitcoin (BTC) started the new year on a high note after tapping into the six-figure mark in 2024. Most observers expect 2025 to be just as remarkable, with projections placing BTC at $185,000 and higher.
The road, however, may be as straightforwardly bullish as expected, as the recent price action suggests sellers are looking to reassert themselves, raising the possibility of a notable price drop ahead.
We are referring to the price action of December, when bitcoin reached a record high above
The road, however, may be as straightforwardly bullish as expected, as the recent price action suggests sellers are looking to reassert themselves, raising the possibility of a notable price drop ahead.
We are referring to the price action of December, when bitcoin reached a record high above
BlackRock’s Bitcoin ETF Records Its Largest Outflow
The largest public fund tracking bitcoin (BTC) recorded its highest outflows on Thursday, nearly one year after going live.
BlackRock’s Nasdaq-listed IBIT, which holds over $53 billion in net assets, saw over $332 million leave the fund on Thursday, according to data source SoSoValue. These exceed a short-held previous record of $188 million in late December.
IBIT has recorded a string of outflows since Dec. 20 for the first time in its history, data shows, ranging from $17 million to as much
BlackRock’s Nasdaq-listed IBIT, which holds over $53 billion in net assets, saw over $332 million leave the fund on Thursday, according to data source SoSoValue. These exceed a short-held previous record of $188 million in late December.
IBIT has recorded a string of outflows since Dec. 20 for the first time in its history, data shows, ranging from $17 million to as much
Crypto Will See Revolution By Acceleration
On Nov. 6, I wrote a memo to EY’s blockchain leadership team. The headline was simple: “Every single private blockchain just died.” Since November 2022, the crypto and blockchain markets have been defined by caution and gradual recovery. The direction has been consistent and positive, but slow, especially in 2023.
In 2024, we saw a gradual but sustained acceleration. The year started with the Bitcoin exchange-traded fund (ETF), and just kept accelerating through an Ethereum ETF, and the adoptio
In 2024, we saw a gradual but sustained acceleration. The year started with the Bitcoin exchange-traded fund (ETF), and just kept accelerating through an Ethereum ETF, and the adoptio
CoinDesk 20 Performance Update: SOL Gains 7.5%, Leading Index Higher
CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.
The CoinDesk 20 is currently trading at 3536.7, up 3.8% (+130.21) since 4 p.m. ET on Wednesday.
18 of 20 assets are trading higher.
Leaders: RENDER (+7.8%) and SOL (+7.5%).
Laggards: HBAR (-0.5%) and XLM (-0.3%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
The CoinDesk 20 is currently trading at 3536.7, up 3.8% (+130.21) since 4 p.m. ET on Wednesday.
18 of 20 assets are trading higher.
Leaders: RENDER (+7.8%) and SOL (+7.5%).
Laggards: HBAR (-0.5%) and XLM (-0.3%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
Tron's T3 Financial Crime Fighting Unit Hits $100M in Frozen USDT
The T3 Financial Crime Unit, a collaboration between the Tron blockchain, stablecoin issuer Tether and blockchain intelligence company TRM Labs, said it has frozen a total of 100 million of Tether's USDT used by illicit actors since the unit was formed in September.
The venture analyzed millions of transactions spanning five continents, monitoring a total volume in excess of 3 billion USDT, the largest stablecoin, T3 said in a statement.
T3 involves TRM Labs using its blockchain intelligence a
The venture analyzed millions of transactions spanning five continents, monitoring a total volume in excess of 3 billion USDT, the largest stablecoin, T3 said in a statement.
T3 involves TRM Labs using its blockchain intelligence a
Dollar's Post-Election Path Is Tracking Trump's First Presidential Term: Van Straten
Since U.S. President-elect Donald Trump's convincing election victory two months ago, the dollar has strengthened more than 3% against its peers, matching its trajectory after his previous win in 2016.
Last time round the DXY Index, which measures the currency's value against a basket of the U.S.' major trading partners, peaked in December before trailing off for the next 12 months, coinciding with bitcoin's (BTC) 2017 bull run.
It's possible the story will be different this time around. The i
Last time round the DXY Index, which measures the currency's value against a basket of the U.S.' major trading partners, peaked in December before trailing off for the next 12 months, coinciding with bitcoin's (BTC) 2017 bull run.
It's possible the story will be different this time around. The i
Tether's Market Value Sees Sharpest Decline Since FTX Crash As MiCA Kicks in
Tether's USDT, the world's leading dollar-pegged stablecoin, has experienced the sharpest weekly decline in market value in two years, spurring market volatility concerns.
USDT's market cap slid more than 1% to $137.24 billion this week, the most significant decline since the crash of the FTX exchange in the second week of November 2022, data from TradingView show. It hit a record $140.72 billion in mid-December.
The decline follows a decision by several European Union (EU)-based exchanges and
USDT's market cap slid more than 1% to $137.24 billion this week, the most significant decline since the crash of the FTX exchange in the second week of November 2022, data from TradingView show. It hit a record $140.72 billion in mid-December.
The decline follows a decision by several European Union (EU)-based exchanges and
KuCoin Enables Crypto Point-of-Sale Payments By QR-Code
KuCoin has introduced a feature for merchants to allow customers to pay for purchases directly from their account on the crypto exchange.
Merchants can integrate the tool, called KuCoin Pay, into their payment systems. Customers pay by scanning a QR code or using the KuCoin app, the exchange said in a press release.
The exchange joins a number of crypto payment providers in facilitating direct payments for customers, a feature that’s supposed to bridge the gap between crypto and the legacy pay
Merchants can integrate the tool, called KuCoin Pay, into their payment systems. Customers pay by scanning a QR code or using the KuCoin app, the exchange said in a press release.
The exchange joins a number of crypto payment providers in facilitating direct payments for customers, a feature that’s supposed to bridge the gap between crypto and the legacy pay
XRP Rockets 11% As Bitcoin Starts New Year With Bullish Bang
Crypto majors zoomed higher in the past 24 hours as the market entered a widely expected bullish year, with bitcoin (BTC) inching above $95,000 to shake off losses from last week.
A CoinDesk analysis from Tuesday flagged unusually high trading volumes for XRP stemming from South Korean exchanges, which has historically acted as a harbinger for price volatility with a bias to the upside.
XRP surged 11% to lead growth among majors as of Thursday, led by $1.3 billion worth of trading volumes on K
A CoinDesk analysis from Tuesday flagged unusually high trading volumes for XRP stemming from South Korean exchanges, which has historically acted as a harbinger for price volatility with a bias to the upside.
XRP surged 11% to lead growth among majors as of Thursday, led by $1.3 billion worth of trading volumes on K
Garanti BBVA’s to Provide Crypto Trading Services in Hint of Things to Come
Spanish banking giant Banco Bilbao Vizcaya Argentaria (BBVA) is deepening its foray into the crypto ecosystem.
Garanti BBVA Kripto, a crypto custody platform operated by Garanti BBVA — Turkey’s fifth largest bank, which as of December 2023 was almost 86% owned by BBVA — will soon be providing crypto trading services to the general public. Bit2Me, a crypto exchange founded in Spain in 2014, will be used as the bank’s trading execution center.
And now that the Markets in Crypto-Assets (MiCA) reg
Garanti BBVA Kripto, a crypto custody platform operated by Garanti BBVA — Turkey’s fifth largest bank, which as of December 2023 was almost 86% owned by BBVA — will soon be providing crypto trading services to the general public. Bit2Me, a crypto exchange founded in Spain in 2014, will be used as the bank’s trading execution center.
And now that the Markets in Crypto-Assets (MiCA) reg