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Crypto & Web3CoinDesk ·

Coinbase Canada Eyes Derivatives and DeFi Expansion, Calls for Clearer Rules

Coinbase Canada's newly appointed CEO, Eric Richmond, has outlined an ambitious plan to grow the platform into a comprehensive exchange offering derivatives, tokenized assets, and decentralized finance products. Richmond stressed that achieving this vision requires permanent regulatory frameworks rather than the temporary exemptions currently in place. The company believes clearer, stable rules are essential before it can confidently broaden its services in the Canadian market. Coinbase's push reflects a wider industry demand for regulatory certainty as crypto firms seek to scale operations in Canada.

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Crypto & Web3CoinDesk ·

Fed's dovish signals could boost Bitcoin, analysts say

Market analysts suggest that any dovish signals from the U.S. Federal Reserve could prove beneficial for Bitcoin. Traders remain divided on whether the Fed will proceed with further interest rate hikes. Analysts note that cryptocurrency may be less vulnerable to Fed policy shifts compared to AI-driven technology stocks. The divergence in sensitivity between crypto assets and tech equities reflects differing market dynamics in the current monetary environment.

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Crypto & Web3CoinDesk ·

Ondo Scraps Tokenized Asset Blockchain for Private High-Speed Trading Network

Ondo Finance has abandoned its plans to build a tokenized asset blockchain, pivoting instead to a private, high-speed trading network. The new infrastructure is designed to support faster and more efficient trading of financial assets on-chain. The network already powers Ondo's recently launched perpetual futures trading platform. The company intends to expand the network's capabilities over time to support a broader range of on-chain financial asset trading.

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Crypto & Web3CoinDesk ·

DRW CEO Don Wilson urges regulators to rethink stance on perpetual futures

DRW founder and CEO Don Wilson has argued that perpetual futures contracts are not inherently risky or speculative instruments, pushing back against prevailing regulatory views. The Wall Street veteran believes that traditional financial markets and regulators have mischaracterized these crypto derivatives. Wilson is calling on regulators to take a more open-minded approach and consider embracing perpetual futures. His comments reflect a broader debate in the financial industry over how crypto-native trading products should be treated under existing and future regulatory frameworks.

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Crypto & Web3CoinDesk ·

BlackRock, Fidelity and Goldman Sachs back Senate crypto market structure bill

Major Wall Street institutions including BlackRock, Fidelity, Franklin Templeton, Goldman Sachs, and SoFi have publicly expressed support for the Clarity Act, a proposed crypto market structure bill. The endorsements come as the U.S. Senate faces a tightening timeline to advance the legislation. The bill aims to establish a clearer regulatory framework for the cryptocurrency market. The backing of such prominent financial firms signals growing institutional interest in shaping U.S. crypto policy.

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Crypto & Web3CoinDesk ·

EthSystems Targets Banks With Privacy Tools for Public Blockchains

EthSystems, a startup that recently spun out of the Ethereum Foundation, is focused on developing privacy infrastructure for banks and financial institutions. The company believes that robust privacy solutions are the critical missing piece preventing traditional financial players from adopting public blockchains. By addressing these privacy concerns, EthSystems aims to bridge the gap between legacy finance and decentralized public networks. The startup's formation marks a strategic effort to make public blockchain technology more viable for regulated industries.

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Crypto & Web3CoinDesk ·

Russia sets $2.8M capital requirement for digital asset platforms before crypto rollout

Russia's central bank has released draft regulations requiring digital asset platforms to maintain up to $2.8 million in liquid capital reserves. The rules are part of a broader regulatory framework for cryptocurrencies that is expected to be implemented this fall. The proposed requirements aim to ensure financial stability and accountability among digital asset operators in the country. This move signals Russia's push to formalize and tighten oversight of its growing crypto sector ahead of the sweeping framework's launch.

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Crypto & Web3CoinDesk ·

Hyperliquid Opens Shared Liquidity to DeFi Composability for Perps Trading

Hyperliquid is expanding its footprint in decentralized finance by allowing external firms to build on top of its existing liquidity pool. Rather than requiring new projects to create separate liquidity, the platform lets them tap into its established order book depth. This composability approach mirrors the 'money LEGO' concept popular in DeFi, where protocols stack on top of one another. The move is designed to preserve liquidity concentration while broadening the platform's ecosystem reach.

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Crypto & Web3CoinDesk ·

Zcash Ironwood Upgrade Locks $1.7B Pool After Four-Year Counterfeiting Bug

Zcash has activated its Ironwood network upgrade, sealing a $1.7 billion shielded pool known as Orchard. The move comes after a counterfeiting vulnerability went undetected within the pool for four years. Under the new rules, all coins held inside the pool must exit through a controlled mechanism that limits withdrawals to verified deposit amounts. The upgrade effectively prevents any exploitation of the long-standing bug by restricting how funds can be moved out.

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Crypto & Web3CoinDesk ·

Morgan Stanley Launches Ether and Solana ETPs After Bitcoin Fund Hits $381M

Morgan Stanley has introduced exchange-traded products for Ether and Solana, expanding its digital asset offerings. The move follows the strong performance of its Bitcoin fund, which surpassed $381 million in assets under management. The new ETPs are designed to be low-cost, making them accessible to a broader range of investors. The launch signals growing institutional confidence in cryptocurrencies beyond Bitcoin.

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Crypto & Web3CoinDesk ·

Core Scientific signs AMD AI deal amid bitcoin mining wind-down

Core Scientific has secured a new agreement with AMD focused on artificial intelligence data centers, marking a significant strategic shift for the company. The deal accelerates the firm's transition away from bitcoin mining toward AI infrastructure. This pivot follows the recent termination of Core Scientific's ASIC agreement with Block. The company appears to be repositioning itself to capitalize on growing demand for AI computing capacity.

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Crypto & Web3CoinDesk ·

Binance Policy Change Hampers Law Enforcement Access to User Data

A new report by The New York Times reveals that Binance has quietly altered its compliance rules, making it harder for authorities to investigate crypto-related crimes. The change means international law enforcement agencies can no longer obtain user data through direct requests and must instead rely on slow and bureaucratic government treaty processes. The shift is seen as a significant obstacle for investigators tracking illicit activity on the platform. The report raises fresh concerns about transparency and cooperation from one of the world's largest cryptocurrency exchanges.

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Crypto & Web3CoinDesk ·

Apple sued for keeping fake Bitcoin wallet app after $875K theft was reported

A lawsuit has been filed against Apple alleging the tech giant failed to remove a fraudulent Bitcoin wallet app from its App Store. The suit claims that Apple was alerted to the fake app after one user reported losing approximately $875,000 to it. Despite this warning, Apple allegedly allowed the app to remain available for download. A second user subsequently fell victim to the same app, losing around $840,000. The lawsuit suggests Apple's inaction directly enabled the second theft to occur.

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Crypto & Web3CoinDesk ·

Bitcoin falls 2% amid South Korea market crash and US crypto bill stall

Bitcoin declined approximately 2% as multiple negative catalysts weighed on the market. South Korea's Kospi index plunged 11%, triggering broader risk-off sentiment across global assets. In the United States, the Senate shelved the Clarity Act, a key piece of crypto regulation legislation, adding further uncertainty to the digital asset space. Investors now await a pivotal Federal Reserve interest rate decision expected on Wednesday, which could further influence market direction.

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Crypto & Web3CoinDesk ·

1inch Launches Aqua Liquidity Protocol Across 13 Blockchain Networks

Decentralized exchange aggregator 1inch has launched its new Aqua liquidity protocol, expanding it across 13 blockchain networks. The protocol introduces a novel approach for liquidity providers, allowing them to retain assets in their own wallets rather than depositing into external pools. A single balance can be used to back multiple trading positions simultaneously, eliminating the need to split capital across different pools. This design aims to improve capital efficiency and give liquidity providers greater control over their funds.

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Crypto & Web3CoinDesk ·

SK Hynix perpetual futures crash 20% in minutes on Hyperliquid before recovery

Perpetual futures linked to SK Hynix's American depositary receipts suffered a sudden flash crash on the Hyperliquid platform. The contracts plummeted approximately 20% within a single minute, briefly hitting $900. Prices then rebounded sharply, climbing back above the $1,000 mark shortly after. The South Korean chipmaker's derivatives were at the center of the rapid and volatile price swing.

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Crypto & Web3CoinDesk ·

Crypto Trading Volumes Hit Two-Year Low, BitMEX and BitMart Under Pressure

Centralized cryptocurrency exchanges are facing mounting pressure as trading activity slumps to its lowest point in more than two years. Total trading volumes across major platforms have dropped to $1.05 trillion, signaling a significant cooling in market participation. BitMEX and BitMart have emerged as potentially the most vulnerable platforms amid this prolonged downturn. The decline reflects a broader slowdown in digital asset market activity that is straining exchange revenues and operations.

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Crypto & Web3CoinDesk ·

CME Challenges CFTC's Approval of Onchain Perpetual Futures in Regulatory Clash

The U.S. Commodity Futures Trading Commission recently granted its first-ever listing approval for crypto perpetual futures, opening the door for onchain crypto derivatives trading. However, Chicago Mercantile Exchange, a major player in the derivatives market, is pushing back against the decision. CME argues that the CFTC's approval represents a departure from established regulatory law. The dispute highlights growing tensions between traditional financial institutions and regulators over the evolving crypto derivatives landscape.

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Crypto & Web3CoinDesk ·

HKMA Releases Whitepaper and First Quantum Preparedness Index for Banks

The Hong Kong Monetary Authority (HKMA) has published a whitepaper assessing the quantum readiness of Hong Kong's banking sector. As part of the release, the HKMA introduced its first-ever Quantum Preparedness Index, a benchmark measuring how prepared local lenders are for quantum computing threats. The index revealed that preparedness levels among Hong Kong banks are notably low. The move reflects growing regulatory concern over the cybersecurity risks that advances in quantum computing could pose to the financial industry.

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