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Crypto & Web3CoinDesk ·

Philippines central bank takes regulatory action against major crypto exchange Coins.ph

The Philippines' largest cryptocurrency exchange, Coins.ph, is facing regulatory action from the country's central bank. The exchange reportedly handled business transactions for offshore gaming and gambling companies, which are restricted. Coins.ph serves more than 18 million customers. The central bank's move is due to the exchange's alleged involvement with these prohibited sectors.

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Crypto & Web3CoinDesk ·

BNY Mellon and Citadel Securities test tokenized Treasury bonds

BNY Mellon and Citadel Securities conducted a transaction involving tokenized U.S. Treasuries. The test demonstrated how blockchain-based government bonds could accelerate financial operations. Specifically, the technology aims to help trading firms move collateral more rapidly between settlement and financing stages. This initiative represents a Wall Street exploration of using blockchain to improve efficiency in financial markets.

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Crypto & Web3CoinDesk ·

MNX Crypto Exchange Offers Pre-IPO Futures for Top AI Firms

The cryptocurrency exchange MNX has launched a new product for trading pre-IPO futures. This offering focuses on major private artificial intelligence companies such as OpenAI, Anthropic, and DeepSeek. The service provides a novel method for speculating on these firms' future valuations. MNX is positioning this product in direct competition with established exchanges like OKX and Bitget.

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Crypto & Web3CoinDesk ·

Federated Hermes Plans First Blockchain-Based Fund Shares With Prometheum

Federated Hermes, a major Pittsburgh-based asset manager, is partnering with Prometheum to offer blockchain-based share classes of its funds. The firm aims to make these tokenized shares accessible through traditional brokerage accounts. This move represents Federated Hermes' entry into the growing trend of asset tokenization on Wall Street. The initiative seeks to bring the benefits of blockchain technology, such as increased efficiency, to conventional investment vehicles.

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Crypto & Web3CoinDesk ·

Bitcoin and Ether recover after dip as South Korean stocks slide on AI concerns

Bitcoin and Ether declined but then rebounded Monday. The movement coincided with a slide in South Korean stock markets, driven by investor concerns related to artificial intelligence. Investors are also positioning themselves ahead of major U.S. bank earnings reports due later that day. Further market attention is focused on upcoming U.S. inflation data scheduled for release on Wednesday.

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Crypto & Web3CoinDesk ·

Russia's Sberbank gains approval for cryptocurrency trading services

Sberbank, Russia's largest bank, has received regulatory approval to trade digital assets. The bank plans to make cryptocurrency trading available to all its clients starting December 1. It is currently testing trades involving Bitcoin, Ethereum, and Tether within its mobile application. This move marks a significant entry of a major traditional financial institution into Russia's crypto market.

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Crypto & Web3CoinDesk ·

Bitcoin holds steady as South Korean chip stocks slump on AI concerns

South Korean stock markets experienced a sharp selloff on Monday, led by major chipmaking companies. The decline was driven by investor concerns over the costs of artificial intelligence development and increasing competition from China. In contrast, the price of Bitcoin remained stable, holding significantly above its lows from earlier this summer. The divergence highlights differing market sentiments toward traditional tech equities and the cryptocurrency.

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Crypto & Web3CoinDesk ·

Ledger reveals CryptoBilis hardware wallets contained covert data-stealing chip

Hardware wallet manufacturer Ledger has publicly explained how a security breach occurred in devices sold by a third party, CryptoBilis. The company stated that a covert 'spy' chip was embedded within the physical hardware of these wallets. This hidden component was capable of transmitting users' cryptocurrency wallet recovery keys over a mobile network. The exploit functioned without requiring any alteration to Ledger's own software, representing a sophisticated hardware-level attack.

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Crypto & Web3CoinDesk ·

UK court ruling aids government's case to retain $5 billion in seized bitcoin

A UK court ruling has improved the government's legal position regarding approximately $5 billion worth of seized bitcoin. The 61,000 bitcoins were confiscated by London's Metropolitan Police during a criminal investigation. The assets are linked to Zhimin Qian, who admitted guilt in a fraud case affecting thousands of victims in China. The ruling concerns the potential forfeiture of these funds to the state.

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Crypto & Web3CoinDesk ·

Inactive Bitcoin Whale from 2020 Market Crash Moves $378 Million

A long-dormant Bitcoin investor, known as a whale, has transferred approximately $378 million worth of the cryptocurrency. This entity originally acquired the coins just days before the major market crash in March 2020. The whale then held onto the assets throughout the subsequent period of high volatility. The recent movement of these funds was recorded on the Bitcoin blockchain.

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Crypto & Web3CoinDesk ·

Blur, formerly top Ethereum NFT marketplace, to shut down after trading volume collapse

Blur, once the largest marketplace for NFTs on the Ethereum blockchain, is closing its website on November 12. The shutdown follows a near-total collapse in its trading activity. Monthly volume has plummeted from a peak of approximately $1.43 billion in 2023 to less than $7 million. Its closure comes just days after its sister project, Blast, also announced it is shutting down.

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Crypto & Web3CoinDesk ·

Bitcoin recovers above $83,000 amid decoupling from global market indicators

Bitcoin's price rebounded to surpass $83,000 after an initial decline. This move occurred independently of significant drops in South Korean semiconductor stocks and Nasdaq futures. The decoupling happened on Thursday, preceding the release of the U.S. Consumer Price Index report. Analysts observed this as Bitcoin moving separately from traditional risk assets. The specific market movements were noted ahead of key U.S. inflation data.

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Crypto & Web3CoinDesk ·

Palantir executive says Europe is lagging behind U.S. in AI adoption

A senior Palantir executive in Europe has stated that the region is falling behind the United States in adopting artificial intelligence for business use. The executive believes Europe is repeating the mistake it made by hesitating during the rise of the internet. He argued that the U.S. is currently advancing rapidly in enterprise AI while Europe delays. The official also addressed what he views as the reasons behind the intense political criticism his company faces.

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Crypto & Web3CoinDesk ·

Bitmine's Tom Lee Predicts $2 Trillion Wealth Transfer to Boost Crypto Demand

Tom Lee, chairman of Bitmine, predicts a $2 trillion wealth transfer will increase demand for cryptocurrencies. He expects younger investors to be the primary drivers of this demand for digital assets. His company, which holds ether in its treasury, is nearing ownership of 5% of the total ether supply. Lee's comments highlight a generational shift in investment preferences toward crypto assets.

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