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Crypto & Web3CoinDesk ·

CFTC Warns of Manipulation Risks in Prediction Markets Tied to Individuals

The U.S. Commodity Futures Trading Commission (CFTC) has issued a new advisory highlighting risks associated with so-called 'mention markets' on prediction platforms. These markets are based on the behavior or actions of specific individuals, making them particularly vulnerable to manipulation and cheating. The regulator flagged that such markets present unique dangers not commonly found in traditional financial instruments. The advisory signals growing regulatory scrutiny of prediction market platforms as they expand in scope and popularity.

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Crypto & Web3CoinDesk ·

Lummis Blames Democrats for Blocking Crypto Clarity Act in Senate

Senator Cynthia Lummis publicly blamed Democrats for the failure of the Crypto Clarity Act following last week's Senate vote. In her first comments since the bill's defeat, Lummis accused Democrats of letting opposition to Donald Trump override their support for crypto legislation. The bill, which aimed to provide regulatory clarity for the cryptocurrency industry, failed to advance in the Senate. Lummis urged the crypto industry to hold Democrats accountable for the outcome.

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Crypto & Web3CoinDesk ·

White House Says Crypto Market Structure Rules Rest With Regulators, Not Congress

White House and U.S. Treasury officials have indicated that regulatory agencies, rather than Congress, will be responsible for advancing crypto market structure policy. Officials acknowledged some optimism that the Clarity Act could resurface during Congress's post-election lame-duck session, but downplayed those expectations. The stance suggests the administration is not counting on legislative action in the near term to bring clarity to digital asset markets. Instead, the burden of establishing a clearer framework for cryptocurrencies is being placed on existing financial regulators.

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Crypto & Web3CoinDesk ·

Canada's Six Largest Banks to Pilot Tokenized Deposit Sharing System

Canada's six major banks are joining forces to launch a tokenized deposit initiative aimed at modernizing interbank transactions. The project will initially focus on transferring digital commercial deposits between the participating institutions. The pilot represents an early-stage effort before the system is eventually connected to wider digital asset ecosystems. The initiative signals a significant step by Canada's mainstream banking sector toward blockchain-based financial infrastructure.

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Crypto & Web3CoinDesk ·

SEC Crypto Task Force Counsel Outlines Agency's Path Forward on Custody Rules

Taylor Lindman, the SEC's chief crypto counsel and top lawyer on its Crypto Task Force, has shed light on the agency's direction regarding cryptocurrency custody. The SEC is focused on helping financial firms grow more comfortable with blockchain technology and digital assets. Lindman's remarks signal a shift toward a more accommodative regulatory approach under the agency's dedicated crypto unit. The guidance is aimed at clarifying how firms can handle and safeguard crypto assets within existing regulatory frameworks.

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Crypto & Web3CoinDesk ·

European Central Banks Seek to Extend Stablecoin Yield Ban to Lending and Staking

European central banks are pushing to broaden existing restrictions on stablecoin yields to also cover crypto lending and staking activities. Regulators argue that these indirect yield mechanisms effectively mimic the returns offered by commercial bank deposits. This blurring of lines between payment tokens and deposit products is seen as distorting fair competition within the financial system. The move signals a more aggressive regulatory stance from European monetary authorities toward yield-bearing crypto instruments.

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Crypto & Web3CoinDesk ·

Repetitive fixed-size trades dominate Kalshi's Bitcoin and Ether perpetual volumes

Data analyzed by CoinDesk reveals an unusual trading pattern on prediction market platform Kalshi in its crypto perpetuals markets. A single recurring trade size of $5,499 accounted for 57% of the sampled volume in Ether perpetuals. Similarly, repetitive trade sizes of $2,500 and $5,000 together made up 54% of sampled Bitcoin perpetual volume. The concentration of identical trade sizes raises questions about the nature and origin of the activity on the platform. CoinDesk has not identified who is responsible for the repetitive trades.

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Crypto & Web3CoinDesk ·

Kraken-backed Reap eyes multi-currency stablecoins for round-the-clock FX settlement

Reap, a fintech firm backed by Kraken parent company Payward, is expanding its stablecoin strategy beyond US dollar-pegged tokens. The company is set to introduce a Mexican peso stablecoin and is actively exploring digital tokens tied to the Hong Kong dollar, euro, South Korean won, and Japanese yen. The move is aimed at enabling cross-border foreign exchange settlements outside traditional banking hours. By leveraging non-USD stablecoins, Reap seeks to address gaps in global FX markets that arise when conventional financial institutions are closed.

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Crypto & Web3CoinDesk ·

Binance acquires $100M Circle stake in five-year USDC promotion agreement

Cryptocurrency exchange Binance has purchased a $100 million stake in Circle, the issuer of the USDC stablecoin. The deal involved Binance acquiring 1.24 million Circle shares at a price of $80.84 per share. As part of the five-year agreement, Binance will actively promote USDC across its platform. In return, Circle will pay Binance a recurring monthly fee based on the volume of USDC held through Binance's wallet infrastructure.

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Crypto & Web3CoinDesk ·

Bitcoin Rebounds to $86K as Falling Oil Prices Boost Risk Appetite

Bitcoin recovered from earlier lows to trade near $86,000 during recent market activity. A drop in WTI crude oil prices, which fell below $90 per barrel, contributed to improved investor sentiment. The decline in oil prices helped support broader risk appetite across financial markets. Strong performance in stock markets also provided additional tailwinds for the cryptocurrency's recovery.

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Crypto & Web3CoinDesk ·

Oil Slides to $89 as Iran Hints at Strait of Hormuz Reopening Within a Week

West Texas Intermediate crude oil fell to $89 per barrel following reports that Iran may reopen the Strait of Hormuz within seven days. The strait is a critical global shipping chokepoint through which a significant share of the world's oil supply passes. Iran's signals of a potential reopening eased supply disruption fears that had been pressuring energy markets. Meanwhile, Bitcoin remained relatively stable, trading near the $86,000 level during the same period.

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Crypto & Web3CoinDesk ·

US Federal Prosecutors Investigating Binance Over Alleged Iran Sanctions Violations

US federal prosecutors in Manhattan, along with the Justice Department, are reportedly investigating Binance over potential sanctions violations. The probe centers on whether the world's largest crypto exchange knowingly allowed its users to circumvent US sanctions imposed on Iran. The investigation was first reported by Bloomberg. If confirmed, the findings could have significant legal and regulatory consequences for the exchange.

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Crypto & Web3CoinDesk ·

Spot Bitcoin ETFs Draw Nearly $1 Billion in Single-Day Inflows

Spot bitcoin exchange-traded funds recorded close to $1 billion in inflows on Monday, marking the ninth-largest single-day inflow in their history. The surge in investor interest coincided with bitcoin rallying to its highest price level since January. The strong inflows signal renewed institutional and retail appetite for bitcoin exposure through regulated fund vehicles. Monday's figures highlight a notable rebound in demand for spot bitcoin ETFs following a quieter period in the market.

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Crypto & Web3CoinDesk ·

Whitehats Transfer 52 BTC From Coldcard Hack to Crypto Recovery Trust

A group of ethical hackers, known as whitehats, have moved 52 Bitcoin originally linked to a Coldcard security breach. The funds were transferred to an address containing an OP_RETURN message pointing to 'cryptorecoverytrust dot com.' The transaction was reported by Galaxy Digital, which tracked the on-chain activity. The move suggests an organized effort to return or safeguard the recovered funds through a formal recovery mechanism.

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Crypto & Web3CoinDesk ·

X Adds Live Bitcoin and Stock Charts with Direct Exchange Links for US Users

Elon Musk's social media platform X has introduced a feature allowing U.S. users to access live price charts for assets including Bitcoin. The feature is activated through cashtags, such as $BTC, directly within the app. Users can also connect to major cryptocurrency exchanges including Coinbase and Kraken through the platform. The move brings X closer to Musk's long-stated vision of transforming the platform into a financial super-app.

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Crypto & Web3CoinDesk ·

Dogecoin Surges 15% as Crypto Market Rebounds, Bitcoin Holds Above $85,000

Dogecoin led a broad cryptocurrency market rebound with a 15% price surge, outpacing most other digital assets. Bitcoin remained relatively stable, holding its position above $85,000 during the rally. The upward move was largely driven by forced buying, which resulted in $844 million in losses for short sellers. As the short squeeze ran its course, the broader market momentum slowed, with Bitcoin trading flat within the last hour. Zcash (ZEC) was notably the only major token still in negative territory amid the recovery.

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Crypto & Web3CoinDesk ·

Cardano adds x402 payment tools for AI agents alongside Solana and XRP Ledger

Cardano has joined Solana and XRP Ledger in supporting the x402 payment protocol, which enables apps and AI agents to make automated payments. The official x402 toolkit has been updated to include Cardano-specific tools, allowing transactions using ADA and other tokens on the network. This development positions Cardano as a participant in the growing race to provide blockchain infrastructure for AI agent payments. However, the Cardano facilitator has so far only been tested in a pre-production environment, meaning it has not yet been validated on a live network.

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Crypto & Web3CoinDesk ·

Bitcoin hits $86K but analysts caution over rising leverage risks

Bitcoin has surged to $86,000, marking a notable breakout in its recent price action. Analysts suggest the cryptocurrency could push toward $90,000 if short sellers continue to be squeezed out of their positions. However, market observers are warning that leverage is accumulating, which could introduce significant volatility. The next sustained move higher is seen as dependent on genuine spot market buying rather than derivatives-driven momentum.

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