Coindesk Financial News

First Digital’s native stablecoin FDUSD, which has a market cap of over $3 billion, is now available on the third blockchain – Sui, after integrating Ethereum and BNB Chain.

Crypto startups raising capital have been stuck in the mud for much of the past couple of years. They are starting to gain traction now thanks to one of the industry’s key underlying assets: bitcoin. The digital currency’s price has jumped 38% in the past month to $71,010 as of Monday’s market close and has surged 168% over the past six months, according to the CoinDesk Bitcoin Price Index.

The biggest cryptocurrency by market value is continuing to rally with the price reaching above $65,000 (€59,919) in the early Asian trade on Monday, as institutional investors pushed up the prices of cryptocurrencies. 

There is a new sheriff in town! Word on the street is that this new crypto might be the next big thing after Solana and Ethereum. 

Bitcoin has climbed up the ranks to become the world's eighth most valuable asset by market capitalisation, surpassing silver, CoinDesk reported. The world's largest cryptocurrency reached an all-time high valuation of over $72,000 during the morning hours of US trading on March 11, leading to a market cap of $1.42 trillion. This has now placed it ahead of silver (valued at $1.387 trillion), according to CompaniesMarketCap.

TORONTO — Bitcoin briefly touched an all-time high Tuesday of more than US$69,000 before losing thousands of dollars of value within hours.

Onramp Invest, the turnkey asset management platform dedicated to providing blockchain-based investments for RIAs, is giving advisors a new opening to invest in the world of cryptocurrencies.

CoinDesk’s CEO Kevin Worth has stepped down as part of a major restructuring effort led by the crypto exchange Bullish, which recently acquired the media outlet.

FTX has sold 22 million shares worth close to $1 billion in Grayscale Bitcoin Trust (GBTC) since it was converted into an exchange-traded fund (ETF) earlier this month, taking FTX's GBTC ownership down to zero, CoinDesk reported on Monday. GBTC in all saw outflows of more than $2 billion since being converted into ETF, according to the report, which cited private data reviewed by CoinDesk and two people familiar with the matter.

spot-bitcoin ETFs is a highly anticipated event that has kept bitcoin traders and investors on the edge for quite some time now – at least since October 2023. Although there is no fixed timeline of this event, it is likely to take place in January 2024. Spot-bitcoin ETF refers to an exchange traded fund permitted by the SEC to invest directly in bitcoins rather than in its futures.

El Salvador’s Bitcoin (BTC) portfolio of 2,798 tokens has yielded an unrealized profit of $12.6 million, and there are no plans to sell.

Goldman Sachs is in talks to be an authorized participant for the spot bitcoin exchange-traded funds that BlackRock and Grayscale are looking to launch, CoinDesk reported on Wednesday, citing people familiar with the situation. There are currently 14 asset managers hoping to finally win the U.S. Securities and Exchange Commission's approval for spot bitcoin ETFs, which would track the market price of the underlying crypto asset, giving investors exposure to the token without having to buy the currency. The SEC is expected to announce its decision by Jan. 10 — the deadline to either approve or reject the Ark/21Shares ETF. To date, the only crypto ETFs approved have been tied to futures contracts on bitcoin and ethereum. Goldman Sachs and BlackRock declined to comment. Grayscale did not immediately respond to a request for comment from Reuters.

high of $45,000 for the first time since April 2022, bitcoin witnessed a sharp fall to trade at $42,685 on Wednesday, registering a 6 percent fall in 24 hours, CoinMarketCap data revealed. Following a high of $45,500 on Wednesday, bitcoin slipped to as low as $40,550, registering 10.9 percent fall before bouncing back to $42,200, revealed CoinDesk data. The unanticipated slide is seen as an outcome of jitters around the expected approval of a spot bitcoin ETF.

As the crypto market enters another week of trading, Bitcoin (BTC) has seen a slight decline to $41,978, dropping by nearly 50% on Sunday. This move coincides with a significant amount of Bitcoin, worth approximately $860 million, being transferred to exchanges, which could be indicative of a potential major sell-off on the horizon.

Taurus, a Swiss crypto custody firm supported by Deutsche Bank, has entered into a partnership with Teylor, a fintech lending platform based in Zurich and specializing in the German SME marketplace.

As Turkey prepares for new legislation in the crypto sector, major banking institutions in the country are making moves to secure their positions in the digital asset space.

Popular Ethereum-based automated market maker (AMM) Uniswap has launched its version 3 (v3) on the Rootstock blockchain protocol.

In a joint press release on Monday, the companies announced that the merger would result in the creation of [REDACTED], a “next-gen network” that seeks to reach more than 10 million people a month.

Forkast Labs has laid off a majority of its editorial staff after completing a merger with data provider CryptoSlam.

Tether and Bitfinex have agreed to settle their dispute regarding a Freedom of Information Law (FOIL) request filed by a group of journalists, including Zeke Faux from Bloomberg Businessweek. 

Kwan was arrested in the country in March after providing falsified documents from Costa Rica while attempting to board a flight to Dubai.