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Crypto & Web3CoinDesk ·

China's Kimi K3 tops coding benchmark, dragging crypto and chip stocks lower

Chinese AI startup Moonshot's Kimi K3 model has claimed the top position in a frontend coding benchmark, outperforming rivals Claude and OpenAI's GPT. The model is available for free, raising competitive pressure on established Western AI players. The development rattled semiconductor stocks, which declined in response to the news. Bitcoin and the broader crypto market fell alongside chip stocks, reflecting investor concern over shifting AI dominance.

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Crypto & Web3CoinDesk ·

Bitcoin Drops to $63,000 Amid Global Chipmaker Selloff

Bitcoin retreated to around $63,000 after briefly climbing to $65,000 earlier this week. The decline was driven by a broad global selloff in semiconductor stocks, which weighed on risk assets across markets. Bitcoin had gained momentum following a softer-than-expected inflation report released this week. The chipmaker rout spread internationally, amplifying pressure on speculative and risk-sensitive investments like cryptocurrency.

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Crypto & Web3CoinDesk ·

Bitcoin Drops Below $63,000 as AI Selloff and Geopolitical Tensions Hit Crypto

Bitcoin slipped under $63,000 as a broad risk-off sentiment swept across financial markets. The decline was driven by growing fatigue around AI-related stocks, which spilled over into the cryptocurrency sector. Rising tensions between the United States and Iran further dampened investor confidence. Despite the downturn, at least one technical indicator suggested that crypto assets may be approaching oversold territory as the weekend approached.

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Crypto & Web3CoinDesk ·

Airbnb CEO Brian Chesky Says X Account Was Hacked, Crypto Posts Were Fake

Airbnb CEO Brian Chesky announced that his account on X, formerly Twitter, was compromised by a hacker. The attacker used the account to post AI-generated content related to cryptocurrency tokenization. Chesky subsequently regained control of his account and addressed the incident publicly. He warned any new crypto-focused followers who found him through the fake posts that he would be a 'disappointing follow', signaling he has no plans to discuss crypto.

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Crypto & Web3CoinDesk ·

Ether and HYPE Slide as Crypto Markets Follow Global Equity Selloff

Cryptocurrency markets faced sharp declines as a broader unwinding of the chip trade rattled global markets. Ether fell approximately twice as steeply as Bitcoin during the downturn, while HYPE dropped around 10%. Japan's Nikkei stock index recorded its worst single-day performance since March, reflecting widespread risk-off sentiment. Despite the recent losses, Ether remained the only major cryptocurrency still holding a marginal weekly gain.

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Crypto & Web3CoinDesk ·

Trader Places $28M Ether Bet to Profit From Volatility Surge

A large options trade worth $28 million has been placed in the ether market, targeting potential price turbulence rather than a directional move. The strategy is designed to profit if ether experiences a significant surge in volatility. Such trades, known as volatility plays, generate returns when market swings intensify regardless of whether prices rise or fall. The bet reflects growing uncertainty among some traders about ether's near-term price stability.

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Crypto & Web3CoinDesk ·

New 'DOG Mode' Bitcoin Client Offers Alternative to BIP 110 Anti-Spam Proposal

A new Bitcoin client called DOG Mode has emerged as an alternative approach to addressing spam on the Bitcoin network. Unlike BIP 110, which seeks to restrict data through a consensus-based rule change, DOG Mode takes the opposite stance on data handling. BIP 110 has garnered almost no support from miners, highlighting divisions within the Bitcoin community over how to tackle spam. DOG Mode requires no community vote or consensus approval to be implemented, making it a more independently deployable solution. The two proposals reflect contrasting philosophies on how Bitcoin's spam problem should be addressed.

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Crypto & Web3CoinDesk ·

Bitcoin Slides Below $64,000 as U.S. Strike on Iran and China Tensions Rattle Markets

Bitcoin fell below $64,000 amid rising geopolitical tensions following a new U.S. military strike on Iran. Broader risk assets came under pressure as investors reacted to the escalating situation in the Middle East. Comments made by former President Donald Trump regarding China added a further layer of uncertainty to global markets. The combination of geopolitical unrest and renewed fears of U.S.-China friction dampened investor appetite for riskier assets like cryptocurrency.

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Crypto & Web3CoinDesk ·

T. Rowe Price launches first actively managed multi-token spot crypto ETF

T. Rowe Price, a $1.9 trillion asset manager, has launched what it claims is the industry's first actively managed multi-token spot cryptocurrency ETF. The fund is designed to offer investors diversified exposure across multiple digital assets rather than a single token. The move signals growing institutional confidence in active management strategies within the crypto space. T. Rowe Price is positioning this product as a differentiated offering in an increasingly competitive crypto ETF market.

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Crypto & Web3CoinDesk ·

Citadel Securities leads $400M investment in Crypto.com at $20B valuation

Crypto.com has secured $400 million in its first-ever institutional funding round, with Citadel Securities among the key investors. The deal values the cryptocurrency exchange at $20 billion. The raised capital is intended to support the platform's expansion into new financial products. Specifically, Crypto.com plans to use the funds to grow its presence in tokenized securities and derivatives markets.

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Crypto & Web3CoinDesk ·

Stripe Reportedly Eyes $53B PayPal Acquisition in Major Payments Power Move

Payments giant Stripe is reportedly considering a bid to acquire PayPal in a deal valued at approximately $53 billion. The potential acquisition would represent one of the largest consolidations in the digital payments industry. Analysts suggest the primary strategic motivations could include gaining control of consumer wallets, stablecoin issuance capabilities, or next-generation payments infrastructure. Such a deal would significantly reshape the competitive landscape of global digital payments. No formal offer has been confirmed by either company at this stage.

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Crypto & Web3CoinDesk ·

Visa launches stablecoin platform enabling banks to issue digital dollars

Visa has introduced a new stablecoin platform that allows banks and fintech companies to issue, manage, and settle digital dollars through its payments network. The platform supports Open USD, positioning Visa as a key infrastructure provider in the stablecoin space. The move introduces fresh competition for Circle, a major player in the stablecoin market. By leveraging its existing payments network, Visa aims to bring stablecoin capabilities to a broader range of financial institutions.

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Crypto & Web3CoinDesk ·

Keyrock Acquires BlockFills Trading Assets to Boost Institutional Crypto Reach

European crypto market maker Keyrock has acquired the trading assets of BlockFills, a move aimed at strengthening its institutional crypto business. The deal brings Keyrock a new set of institutional trading clients, expanding its existing client base. Keyrock also gains derivatives expertise and regulatory licenses through the acquisition. The transaction is part of Keyrock's broader strategy to deepen its footprint in crypto capital markets.

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Crypto & Web3CoinDesk ·

Blockchain Association CEO Backs Clarity Act as Key Crypto Consumer Protection

Summer Mersinger, CEO of the Blockchain Association, has voiced strong support for the Clarity Act, describing it as a critical step in protecting crypto consumers. Mersinger argues that consumers should not have to endure another market crisis before receiving adequate protections. The Clarity Act is being positioned as one of the most significant consumer protection efforts in the digital asset space in recent years. Mersinger's comments reflect growing industry pressure on lawmakers to establish clear regulatory frameworks for the crypto sector.

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Crypto & Web3CoinDesk ·

Financial Advisors Urged to Build Stronger Defenses Against AI-Driven Fraud

CoinDesk's Crypto for Advisors segment has highlighted the growing threat of AI-powered fraud targeting financial advisors and their clients. The piece focuses on the need for stronger defensive strategies as artificial intelligence tools become increasingly accessible to bad actors. Advisors operating in the crypto space are seen as particularly vulnerable given the complexity and novelty of digital assets. The report underscores the importance of proactive measures to protect client assets and data in an evolving threat landscape.

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Crypto & Web3CoinDesk ·

Alpaca Raises $135M to Build Infrastructure for Tokenized Stock Trading

Crypto brokerage firm Alpaca has secured $135 million in fresh funding to expand its tokenized stock infrastructure. The company plays a dominant role in the tokenized equities space, having at one point cleared or custodied approximately 94% of tokenized U.S. equities. Alpaca currently holds over $1.5 billion in underlying stocks on behalf of its partners. The raise underscores growing institutional interest in bridging traditional equity markets with blockchain-based tokenization technology.

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Crypto & Web3CoinDesk ·

Ledger lets AI agents manage crypto while keeping keys on hardware wallet

Ledger has introduced a system that allows AI agents to interact with users' cryptocurrency holdings. The AI can perform tasks such as reading wallet balances and analyzing portfolios on behalf of users. However, any sensitive or financial action must be physically approved on a Ledger hardware device before it is executed. This approach aims to combine the convenience of AI-driven automation with the security of hardware-based key storage. Users retain full control of their private keys at all times, as the AI never holds them directly.

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Crypto & Web3CoinDesk ·

Galaxy Launches DeFi Vaults to Offer Institutional Clients Onchain Yield

Galaxy, a crypto financial services firm, has introduced a new product called Galaxy Curator aimed at institutional investors. The platform is built on Morpho, a decentralized finance protocol, and is designed to generate yield through onchain strategies. Galaxy Curator is integrated with Fireblocks, giving its network of approximately 2,400 institutional clients access to the product. The move reflects growing institutional interest in stablecoin yield opportunities within the DeFi space.

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