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Crypto & Web3CoinDesk ·

Ireland excludes crypto assets from new tax-advantaged investment accounts

Ireland has introduced new tax-advantaged investment accounts aimed at encouraging retail participation in financial markets. The accounts permit holdings in listed stocks, bonds, and exchange-traded funds, but explicitly exclude cryptocurrencies from eligibility. Investment providers will manage tax reporting on behalf of account holders, reducing the compliance burden on individual investors. The decision reflects a cautious regulatory stance toward digital assets within the country's broader investment framework.

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Crypto & Web3CoinDesk ·

Bitmine Makes Major Ether Purchase as Tom Lee Flags Strong Crypto Q3

Bitmine has completed its largest Ether purchase since June, signaling renewed confidence in the cryptocurrency market. Company Chairman Tom Lee pointed to crypto's strong performance in the third quarter as a key driver behind the decision. Lee suggested that the recent outperformance of cryptocurrencies could attract greater interest from institutional investors. The move reflects growing corporate appetite for digital assets amid improving market conditions.

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Crypto & Web3CoinDesk ·

Robinhood Chain surpasses Ethereum in daily revenue on memecoin trading surge

Robinhood Chain, a network only two months old, outpaced Ethereum in daily revenue on August 30. The blockchain set a new record by processing 5.52 million transactions in a single day. Users launched approximately 22,600 tokens during that period, reflecting intense memecoin activity. Memecoin trading tools were the primary driver behind the platform's $2.66 million in daily revenue.

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Crypto & Web3CoinDesk ·

Sberbank Eyes Ether and USDT as Collateral for Crypto-Backed Loans

Russia's largest state-owned bank, Sberbank, is reportedly planning to accept Ether (ETH) and Tether (USDT) as collateral for cryptocurrency-backed loans. This development follows a move by the Bank of Russia to include both ETH and USDT in a draft list of cryptocurrencies approved for public trading on Russian exchanges. The proposed expansion signals growing institutional interest in broadening crypto utility within Russia's regulated financial system. If implemented, the move would allow borrowers to leverage two of the most widely used digital assets to secure loans through Sberbank.

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Crypto & Web3CoinDesk ·

Bitcoin holds steady after U.S. strikes on Iran, up 24% for the month

Bitcoin remained largely unmoved following U.S. military strikes on Iran, even as broader markets reacted with a risk-off response. Oil prices rose and stocks fell in the wake of the strikes, but the cryptocurrency showed resilience. Bitcoin has gained approximately 24% this month, putting it on course for its strongest monthly performance since November 2024. The divergence highlights Bitcoin's increasingly independent behavior from traditional risk assets during geopolitical events.

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Crypto & Web3CoinDesk ·

Key Events to Watch: US Jobs Report and Russia's Digital Ruble Launch

The week beginning August 31 is set to bring several significant developments for crypto and financial markets. The US jobs report is among the major economic indicators due for release, which could influence sentiment across risk assets including cryptocurrencies. Russia is also expected to move forward with its digital ruble rollout, marking a notable step in the country's central bank digital currency ambitions. These events are being closely watched by market participants for their potential impact on crypto prices and broader monetary policy discussions.

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Crypto & Web3CoinDesk ·

Bitcoin Steadies Near $78,000 as Strong Dollar Weighs on Crypto Markets

Bitcoin is trading just below $78,000 as the month of August draws to a close. The US dollar has strengthened significantly, pushing the Japanese yen past the 160 mark, a level historically associated with government intervention. Rising bets on interest rate hikes have been a key driver behind the dollar's recent gains. The same dollar strength that is pressuring the yen is also acting as a ceiling on cryptocurrency prices.

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Crypto & Web3CoinDesk ·

Bitcoin Developer Luke Dashjr Parts Ways with Mining Pool Ocean

Bitcoin developer Luke Dashjr has departed from Ocean, the mining pool he was associated with, following a mutual split between the two parties. The separation stems from differing views on the future of Bitcoin mining and recent developments in the protocol. Both Dashjr and Ocean acknowledged the disagreement, indicating the parting was amicable rather than contentious. The split highlights ongoing debates within the Bitcoin community over the direction of mining and underlying protocol changes.

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Crypto & Web3CoinDesk ·

September Fed Rate Hike Probability Sits at 58%, Far Below Feared 90%

Market fears of a Federal Reserve interest rate hike in September appear exaggerated, with current probability estimates sitting at just 58%. This is significantly lower than the 90% figure that had been circulating among concerned investors. Despite a hawkish speech delivered by Fed official Kevin Warsh on Friday, market odds of tightening have not surged dramatically. Financial observers and analysts are urging calm, downplaying the likelihood of imminent monetary tightening.

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Crypto & Web3CoinDesk ·

Zakura claims 14x faster proof generation for Zcash private transactions

Blockchain startup Zakura has developed a new cryptography stack aimed at dramatically speeding up private transactions on the Zcash network. The technology reportedly makes mobile proof generation more than 14 times faster than current methods. This improvement would reduce transaction wait times from roughly three seconds to under 200 milliseconds. The advancement targets one of the most significant friction points users encounter when sending private ZEC. Faster proof generation could make Zcash's privacy features more practical for everyday mobile use.

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Crypto & Web3CoinDesk ·

Cronos blockchain paused after $75M exploit targets lending protocol Tectonic

The Cronos blockchain was temporarily halted by its validators following a $75 million exploit on Tectonic, a decentralized lending application built on the network. An attacker allegedly manipulated the price of Tectonic's TONIC token, driving its value up approximately 100 times its original price. The inflated TONIC tokens were then used as collateral to borrow substantial real assets from the protocol. Cronos validators chose to pause the network in response, leaving a significant portion of funds inaccessible. The incident highlights ongoing risks around thinly traded tokens being used as collateral in decentralized finance platforms.

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Crypto & Web3CoinDesk ·

Bitcoin holds steady as U.S.-Iran tensions lift oil and pressure stocks

Bitcoin showed resilience amid the latest escalation in geopolitical tensions between the U.S. and Iran. While traditional markets reacted negatively, with stocks falling and oil prices rising, Bitcoin remained largely unmoved. The cryptocurrency has maintained its position as August's best-performing asset despite the turbulent backdrop. The divergence highlights Bitcoin's growing reputation as a potential hedge against geopolitical uncertainty. The contrast in asset performance has drawn attention from investors monitoring safe-haven behavior across markets.

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Crypto & Web3CoinDesk ·

Saylor Hints at New Bitcoin Buy as BTC Rebounds Toward $79,000

Michael Saylor, executive chairman of Strategy, has hinted at a potential bitcoin purchase, which would be the firm's first acquisition in roughly two months. The signal comes as bitcoin rebounded from a low recorded on Friday, with its price approaching the $79,000 mark. Strategy's overall valuation has expanded alongside the price recovery, reflecting the company's heavy bitcoin holdings. Bitcoin dominance — its share of the total crypto market capitalization — also climbed above 60% during this period, indicating renewed investor preference for the leading cryptocurrency.

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Crypto & Web3CoinDesk ·

How Finance Evolved From Hawala Networks to SWIFT Over 1,000 Years

The movement of money has undergone dramatic transformation over roughly a millennium, shifting from trust-based informal systems like hawala to modern digital networks such as SWIFT. Early financial innovations were driven by the need to transfer wealth without physically transporting valuable assets across dangerous routes. Each successive leap in efficiency reduced friction in transactions, making commerce faster and more accessible across borders. However, removing these barriers has consistently introduced new vulnerabilities, enabling increasingly sophisticated financial crimes and cyberattacks. The tension between seamless money movement and security remains a defining challenge in the ongoing evolution of global finance.

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Crypto & Web3CoinDesk ·

Trading Firms Harvest Yield From Bitcoin Rally Without Directional Bets

Bitcoin has climbed back above the $80,000 mark, drawing renewed attention from professional trading firms. Rather than placing directional bets on whether the price will rise or fall, sophisticated market makers are focusing on yield-generating strategies. These firms are capitalizing on the volatility and liquidity conditions that accompany a strong rally. This approach allows them to profit from market activity while avoiding the risks tied to price prediction.

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Crypto & Web3CoinDesk ·

Crypto Card Hack Costs $1.1M, Sends Neobank's AVICI Token to Record Low

A cyberattack targeting a neobank's crypto card system resulted in losses of approximately $1.1 million. The exploit triggered a sharp sell-off in the neobank's native AVICI token, which plunged 49% from its 24-hour high. The token hit a record low in the aftermath of the breach before partially recovering some of its losses. The incident highlights ongoing security vulnerabilities facing crypto-linked financial platforms.

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Crypto & Web3CoinDesk ·

Survey: Most Americans Prefer Control and Micro-Investing Over Bitcoin's 'Digital Gold' Pitch

A new study by BPI (Bitcoin Policy Institute) has found that common bitcoin narratives may not resonate well with most everyday Americans. The research suggests that familiar pitches around bitcoin as 'digital gold' or a world-changing asset are poorly matched to what prospective buyers actually want. Instead, ordinary Americans appear to favor features like personal financial control and the ability to invest in small amounts. The findings imply that the crypto industry may need to rethink how it markets bitcoin to a broader, mainstream audience.

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Crypto & Web3CoinDesk ·

Swift's Vast Banking Network Faces Challenge From Blockchain Payment Systems

Swift, the global financial messaging network connecting 11,500 institutions, is facing growing competition from emerging blockchain-based payment infrastructure. Crypto industry executives argue that blockchain technology could eventually render Swift obsolete by offering faster and more decentralized alternatives. However, banking insiders counter that Swift's enormous institutional reach gives it the capacity to integrate and absorb blockchain technology on its own terms. The debate centers on whether Swift's scale is a vulnerability or a strategic advantage in adapting to new financial technology.

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