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Crypto & Web3CoinDesk ·

US Treasury Yields Rise Despite $6B Buyback as Debt and Oil Concerns Persist

Long-term US Treasury yields continued to climb even after the government conducted a $6 billion bond buyback operation. Treasury Secretary Bessent reaffirmed the administration's commitment to the buyback program amid the market pressure. Rising oil prices and broader debt concerns have been weighing on global bond markets. The buyback, intended to support bond prices and ease yields, failed to produce the desired effect. Analysts point to persistent fiscal worries as the key driver behind the ongoing yield increases.

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Crypto & Web3CoinDesk ·

Bybit Plans European Super-App Combining Crypto, Stocks and Derivatives

Cryptocurrency exchange Bybit is planning to launch a financial super-app for European users that will bundle stocks, derivatives, and crypto services. CEO Ben Zhou revealed the plans in an interview with CoinDesk. Bybit already holds an electronic money institution license in Austria, giving it a regulatory foothold in Europe. The company is also in the process of obtaining a MiFID license, which would allow it to offer a broader range of financial instruments across the EU. The move signals Bybit's ambition to expand beyond crypto and compete with mainstream financial platforms in the European market.

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Crypto & Web3CoinDesk ·

Nasdaq Invests $100M in Kraken Parent Payward at $21B Valuation

Nasdaq has made a $100 million investment in Payward, the parent company of cryptocurrency exchange Kraken, valuing the firm at $21 billion. The deal deepens an existing strategic partnership between the two financial entities. The collaboration is aimed at bringing tokenized equities with voting rights to users of the Kraken platform. This move signals growing institutional interest in bridging traditional finance with crypto markets.

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Crypto & Web3CoinDesk ·

Bitcoin Slides to $78,000 as Broad Crypto Selloff Hits Memecoins and Small Caps Hard

Bitcoin dropped approximately 2% over a 24-hour period, trading at around $78,111 according to CoinDesk data. The decline was part of a widespread crypto market retreat, with 95 out of 100 assets in the CoinDesk 100 index recording losses. Memecoins and small-cap cryptocurrencies were among the hardest-hit segments during the selloff. The bulk of the market downturn occurred during overnight trading hours.