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Crypto & Web3CoinDesk ·

How to Spot Digital Arrest Scams That Pressure Victims Into Crypto Payments

Digital arrest scams involve fraudsters impersonating law enforcement officials online to intimidate unsuspecting victims. The scammers use fabricated claims of legal authority to create urgency and fear. Victims are then pressured into making quick payments, often through cryptocurrency transactions. Moody's analyst Rich Graham has highlighted the growing threat of these scams and the tactics used by perpetrators. Recognizing the warning signs of such impersonation schemes is key to avoiding financial loss.

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Crypto & Web3CoinDesk ·

Researchers Halve Estimated Timeline for Quantum Attack on Bitcoin and Ethereum

Crypto researchers have significantly revised downward their estimates for when quantum computers could threaten Bitcoin and Ethereum, cutting the projected timeline by 50%. A new paper shared with CoinDesk demonstrates that both humans and AI agents have outperformed Google's March benchmark on a key calculation central to Shor's algorithm. Shor's algorithm is the quantum method considered most capable of breaking the cryptographic protections securing major blockchain networks. The improved performance on this core computation adds fresh urgency to ongoing debates about how quickly the crypto industry must develop quantum-resistant defenses.

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Crypto & Web3CoinDesk ·

BIS Chief Warns AI Investment Boom Built on Opaque Debt Could Trigger Crisis

Bank for International Settlements head Pablo Hernandez has raised alarms about the rapid surge in artificial intelligence capital expenditure. He cautioned that much of this spending is being financed through opaque debt rather than grounded in actual profits. Hernandez drew parallels to historical speculative bubbles, including the 19th-century railway boom and the early 2000s dot-com crash. He warned that hype-driven investment cycles of this nature have historically led to broad economic corrections. The remarks highlight growing concern among global financial regulators about systemic risks embedded in the AI spending race.

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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.

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Crypto & Web3CoinDesk ·

Arya.ag to Put $2B in Grain-Backed Loans on Avalanche Blockchain

Indian agricultural warehouse platform Arya.ag is leveraging Avalanche blockchain technology to tokenize grain deposits worth $2 billion. The initiative aims to bring agricultural lending onchain, making it easier for lenders to verify the crops used as collateral for loans. By tokenizing grain stored in warehouses, the platform seeks to improve transparency and trust in the agri-lending process. The move represents a significant step in applying blockchain technology to India's agricultural finance sector.

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Crypto & Web3CoinDesk ·

Bitcoin ETFs Record $120M Outflow for Second Day as Ether, XRP, Solana Funds Gain

Bitcoin exchange-traded funds experienced a second consecutive day of net outflows on Wednesday, shedding approximately $120 million. This figure was more than double the losses recorded the previous Tuesday. While bitcoin funds continued to struggle, ETFs tracking other major cryptocurrencies moved in the opposite direction. Ether, XRP, and Solana funds all attracted fresh capital on the same day, turning green amid bitcoin's continued retreat.

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Crypto & Web3CoinDesk ·

SGX Opens Bitcoin and Ether Perpetual Futures to US Institutional Traders

The Singapore Exchange (SGX) has announced that US institutional investors are now eligible to trade its bitcoin and ether perpetual futures products. This marks a significant development in cross-border crypto derivatives access, connecting American trading desks with Asian liquidity pools. The move extends SGX's existing perpetual futures offerings to a broader international client base. By opening access to US institutions, SGX aims to strengthen its position as a major hub for regulated digital asset trading in Asia.

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Crypto & Web3CoinDesk ·

Hunter Biden Memecoin Crashes 98% at Launch, Early Buyers Face Six-Figure Losses

A memecoin themed around Hunter Biden suffered a dramatic 98% price crash shortly after its launch. The project's team attributed the collapse to thin liquidity and the activity of automated trading bots, which they say distorted the market at debut. On-chain data from analytics platform Nansen revealed that some early buyers are now sitting on six-figure losses. The incident highlights the risks associated with politically themed memecoins, which often experience extreme volatility at launch.

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Crypto & Web3CoinDesk ·

Dogecoin drops 5% as major cryptocurrencies slide amid rising Treasury yields

Dogecoin led declines among major cryptocurrencies, falling approximately 5% in a broad market selloff. BNB and XRP also posted significant losses, dropping around 4% and 3% respectively. Bitcoin showed relative resilience, holding steady near the $78,000 level during the downturn. Rising oil prices pushed U.S. Treasury yields to their highest levels since late 2023, adding pressure to risk assets including crypto.

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Crypto & Web3CoinDesk ·

Coinbase CEO: Crypto industry gains clarity with or without Senate bill vote

Coinbase CEO Brian Armstrong stated that the cryptocurrency industry stands to gain regulatory clarity regardless of the outcome of the Senate's vote on the Clarity Act. Armstrong made these remarks in an interview with CNBC, expressing confidence in the sector's regulatory trajectory. The Senate is scheduled to vote on the bill on September 15. Armstrong suggested that the broader momentum toward crypto regulation means the industry benefits either way the vote goes.

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Crypto & Web3CoinDesk ·

Robinhood CEO Pushes Back at AMC Over Control of Stock Tokens

Robinhood CEO Vlad Tenev appeared on CNBC's 'Squawk Box' on Wednesday to respond to criticism from AMC's chief executive regarding stock tokens. Tenev argued that publicly listed companies should not have the authority to block third-party securities that reference their shares. The remarks come amid a growing dispute between the two executives over the legitimacy and oversight of tokenized stock products. The clash highlights broader tensions in the financial industry over who holds control when traditional equities are represented in digital token form.

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Crypto & Web3CoinDesk ·

U.S. Treasury Sanctions Chinese Crypto Platform Xinbi Guarantee for Cyber Scams

The U.S. Treasury Department has imposed sanctions on Xinbi Guarantee, a Chinese-language online platform linked to large-scale cyber fraud. Xinbi is accused of facilitating criminal activity by conducting transactions primarily through cryptocurrency. The platform allegedly provided services to other criminal networks, effectively functioning as a hub for illicit operations. This action reflects the Treasury's continued efforts to crack down on crypto-enabled criminal enterprises operating internationally.

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Crypto & Web3CoinDesk ·

Tether Launches $400M Private Credit Fund in Partnership with Fasanara

Tether, the issuer of the USDT stablecoin, is expanding into private credit through a $400 million fund established with Fasanara. The partnership marks a significant diversification move for Tether beyond its core stablecoin business. Under the arrangement, Tether will help identify and source lending opportunities within Fasanara's private credit network. The company will also provide stablecoin payment infrastructure to support the fund's operations.

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Crypto & Web3CoinDesk ·

US Backs $300M Quantum Push, Raising Stakes for Bitcoin and Ethereum Security

The United States government is supporting a $300 million hardware initiative aimed at advancing quantum computing capabilities. While fault-tolerant quantum machines capable of breaking current encryption do not yet exist, experts warn the threat is approaching. Both Bitcoin and Ethereum development communities are working on migration plans to quantum-resistant cryptography. Notably, the timeline for these crypto upgrades and the maturation of quantum hardware is converging around the year 2029. This overlap is intensifying urgency within the blockchain industry to future-proof their networks before a viable quantum threat emerges.

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Crypto & Web3CoinDesk ·

Dollar Dominates Euro 300-to-1 Onchain Despite Near-Parity Offchain

A report by Ryan Connor of RockawayX highlights a stark disparity between the dollar and euro in the crypto economy. While the dollar leads the euro roughly 3-to-1 in traditional finance, the gap widens to over 300-to-1 in onchain activity. Euro-pegged stablecoins currently account for just €711 million, representing less than 1% of total stablecoin supply. Connor attributes this imbalance to historical path dependency and an underdeveloped euro-denominated DeFi infrastructure. However, he suggests that MiCA-regulated stablecoin issuance and the emergence of euro vault rails could begin to close the gap.

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