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Crypto & Web3

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Crypto & Web3CoinDesk ·

Crypto-backed candidates win primaries, industry eyes November general election

The cryptocurrency industry's political action committee Fairshake backed several candidates in U.S. primary elections, all of whom emerged victorious. Among the winners was Massachusetts incumbent Jake Auchincloss, adding to the list of crypto-supported candidates who secured their party nominations. The results signal a growing political influence for the crypto industry within U.S. electoral politics. With the primaries concluded, the industry's focus now shifts to the November general election, where it aims to further expand its presence in Congress.

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Crypto & Web3CoinDesk ·

New Jersey petitions Supreme Court to settle prediction markets sports dispute

New Jersey has become the first state to formally ask the U.S. Supreme Court to weigh in on the legality of prediction markets offering sports-related products. The move comes after multiple federal appeals courts issued conflicting rulings on whether states have the authority to regulate or ban such markets. The differing court decisions created legal uncertainty around how prediction markets can operate across the country. By petitioning SCOTUS, New Jersey is seeking a definitive national ruling to resolve the inconsistency between jurisdictions.

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Crypto & Web3CoinDesk ·

Crypto VCs Flocking to Late-Stage Deals, Leaving Early-Stage Funding Gap

Varun Datta of Truth Ventures argues in this week's Crypto Long & Short column that crypto venture capital firms are increasingly concentrating capital in later-stage investments, mistaking herd behavior for prudent strategy. Data shows that proven companies captured 57% of venture funding in the last quarter alone. Datta contends this consensus-driven retreat from early-stage deals is creating a significant gap at the founding stage. He believes this overlooked segment is precisely where the strongest investment returns are likely to be found, and outlines three key factors investors should evaluate when targeting early-stage opportunities.

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Crypto & Web3CoinDesk ·

CrowdStrike, Feds Dismantle Russian Malware That Hijacked Crypto Addresses for 8 Years

CrowdStrike and federal authorities have successfully dismantled a Russia-based malware operation known as Sality that operated covertly for approximately eight years. The malware was designed to monitor clipboard activity, detecting when users copied Bitcoin or Ethereum wallet addresses and silently replacing them with addresses controlled by the attackers. This technique, commonly known as a clipboard hijacker, allowed the threat actors to redirect cryptocurrency transactions without victims' knowledge. Investigators have identified and isolated more than 15,000 infected machines as part of the takedown effort.

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Crypto & Web3CoinDesk ·

Tokenization Is Reshaping How Value Is Created, Owned and Transferred

Solana Foundation's Lily Liu argues that tokenization represents far more than simply broadening access to digital assets. According to Liu, the trend marks a fundamental transformation in how value is generated, held, financed, and transferred across systems. The shift applies broadly, covering virtually any asset or item that can be assigned worth. Liu's perspective frames programmable tokens not as a niche financial tool but as a structural reimagining of economic ownership itself.

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Crypto & Web3CoinDesk ·

XRP and Bitcoin Show 'Bart Simpson' Chart Pattern Amid Price Pullback

Major cryptocurrencies including XRP and Bitcoin are experiencing a price decline, with analysts drawing attention to a chart formation known as the 'Bart Simpson pattern.' The pattern, named after the iconic cartoon character, refers to a sharp price spike followed by a sudden flat period and an equally abrupt drop. Market analysts are actively discussing this technical formation as it appears to be playing out across leading digital assets. The development reflects broader weakness in the cryptocurrency market as prices pull back from recent levels.

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Crypto & Web3CoinDesk ·

Capital B plans 376 BTC purchase after raising $8.8M via Adam Back investment

Capital B, listed on Euronext Growth Paris, is targeting an addition of 376 Bitcoin to its treasury following a significant investment from cryptographer Adam Back. The company raised approximately $8.8 million by issuing 13,181,030 new shares at 58 euro cents each, with four warrants attached per share. The share issuance details were disclosed in an official filing on Wednesday. The move reflects a growing trend among publicly listed firms building Bitcoin reserves as a core treasury strategy.

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Crypto & Web3CoinDesk ·

Tether Sued Over Alleged $42.4M USDT Freeze Ahead of Official U.S. Warrant

A lawsuit has been filed against Tether, the issuer of the USDT stablecoin, over allegations that it froze $42.4 million worth of USDT without proper legal authorization. The plaintiffs claim Tether acted on an informal request from U.S. law enforcement, rather than waiting for an official seizure warrant. According to the suit, the freeze took place more than three months before any formal warrant was issued. The case raises questions about whether Tether acted prematurely and outside the bounds of due legal process.

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Crypto & Web3CoinDesk ·

Bitcoin Dips Below $76,500 as U.S.-Iran Tensions Push Oil Past $93

Bitcoin declined approximately 1% from midnight, falling below the $76,500 mark amid rising geopolitical tensions. U.S. military strikes on Iran triggered a sharp rally in oil prices, with Brent crude surpassing $93 per barrel. Treasury yields also moved higher, approaching the 4.8% level, adding further pressure on risk assets. The simultaneous moves in oil, bonds, and crypto reflect broad market unease driven by the escalating U.S.-Iran conflict.

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Crypto & Web3CoinDesk ·

Liz Truss Warns UK Debt Crisis May Force Emergency Spending Cuts

Former UK Prime Minister Liz Truss has cautioned that a bond market selloff could compel the government to make emergency cuts to public spending. Truss highlighted the UK as one of the worst examples of rising national debt among developed nations. She expressed concern that the fiscal situation may have already deteriorated beyond a manageable point. The warning comes amid broader global anxiety over government borrowing levels and bond market volatility.

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Crypto & Web3CoinDesk ·

Bitcoin ETFs See $236M Net Outflow as IBIT Leads Withdrawals

Bitcoin ETFs recorded a net outflow of $236 million, with BlackRock's IBIT fund being the primary driver of the withdrawals. The broader crypto market also turned negative, with Bitcoin falling below $77,500 alongside declines across major cryptocurrencies. Despite the bitcoin ETF outflows, smaller cryptocurrency ETFs continued to attract inflows during the same period. The divergence highlights shifting investor sentiment between bitcoin-focused products and alternative crypto funds.

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Crypto & Web3CoinDesk ·

XRP ETFs attract $170M in 11 days as Goldman Sachs leads institutional holders

Spot XRP exchange-traded funds have recorded $170 million in inflows over eleven consecutive trading days, reflecting growing investor appetite for the asset. The funds have posted positive inflows across nine straight sessions, signaling sustained institutional and retail interest. Second-quarter regulatory filings have revealed the identities of the largest professional holders of these XRP funds. Goldman Sachs, Jane Street, and Millennium Management are among the top institutional investors holding positions in the spot XRP products.

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Crypto & Web3CoinDesk ·

China's Credit Impulse Turns Negative, Posing Risk to Bitcoin and Stocks

China's credit impulse, a measure of new credit flow relative to GDP, is currently sending a bearish signal for risk assets. Historically, this indicator has influenced global appetite for riskier investments, including equities and cryptocurrencies. A declining credit impulse from China typically signals reduced liquidity and slower economic momentum, which can weigh on asset prices. Despite the warning sign, Bitcoin has largely held steady and shown resilience to the negative reading so far. Analysts continue to watch whether the indicator's red flag will eventually translate into broader market pressure.

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Crypto & Web3CoinDesk ·

OpenAI's Astra AI Can Independently Discover and Exploit Cyber Vulnerabilities

OpenAI has developed a new AI model called Astra that has reached the company's highest cybersecurity risk threshold, classified as 'Critical'. Astra is capable of identifying previously unknown security vulnerabilities and crafting methods to exploit them without human assistance. It is the first OpenAI model to achieve this level, meaning it can operate against hardened and well-protected systems. The development raises significant concerns about the potential misuse of advanced AI in cyberattacks.

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Crypto & Web3CoinDesk ·

Solana, Ether, XRP Drop Sharply as Iran Strike Triggers Broad Crypto Selloff

Major cryptocurrencies experienced a broad decline over a 24-hour period following Iran's military strikes, which triggered a widespread risk-off sentiment across markets. Every large-cap token recorded losses during this period, with high-volatility assets bearing the heaviest losses. Solana, Ether, and XRP led the downturn among major tokens, falling at roughly triple the rate of Bitcoin. Bitcoin, while also declining, proved comparatively more resilient than other large-cap cryptocurrencies during the selloff.

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Crypto & Web3CoinDesk ·

Bitcoin Holds Steady as Oil Hits $90 and Bond Yields Rise, Gold Retreats

Bitcoin has shown resilience amid a challenging macroeconomic environment marked by oil prices reaching $90 and climbing bond yields. Traditional safe-haven asset gold has slipped under these pressures, while stocks have also faced headwinds. A strengthening US dollar presents a potential complication for Bitcoin's continued stability. The cryptocurrency has traded in a choppy but relatively firm manner compared to other assets in this environment.

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Crypto & Web3CoinDesk ·

SEC Proposes Transfer Agent Rule, Plans Roundtable on 24/7 US Stock Trading

The U.S. Securities and Exchange Commission has proposed a new rule governing transfer agents that carries potential implications for blockchain technology. The regulator also released a formal agenda for an upcoming roundtable focused on the possibility of round-the-clock trading in U.S. markets. The dual moves signal the SEC's growing attention to both market structure modernization and emerging financial technologies. The roundtable is intended to bring together stakeholders to explore the feasibility and challenges of 24-hour trading in the United States.

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Crypto & Web3CoinDesk ·

Citi, Goldman and Global Banks Join Forces to Launch Stablecoin Venture

Major financial institutions including Citigroup and Goldman Sachs have partnered to develop a joint stablecoin initiative. The venture brings together global banks and asset managers in a collaborative effort targeting digital finance. The group's initial focus will be on creating a U.S. dollar-backed stablecoin designed for payments and digital asset settlement. Expansion plans include the development of a euro-denominated token as a subsequent priority.

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Crypto & Web3CoinDesk ·

Robinhood Chain hits $1.9M daily revenue record, boosting ARB token by 30%

Robinhood Chain has set a new 24-hour revenue record of $1.9 million, marking a significant milestone for the recently launched crypto network. The strong performance triggered a sharp 30% rally in ARB, the native token of Arbitrum, the blockchain infrastructure underlying Robinhood Chain. Traders moved quickly to capitalize on the network's growing activity, driving speculative demand for the associated token. The surge highlights growing user engagement on Robinhood's crypto platform and investor interest in its underlying technology stack.

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