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Crypto & Web3

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Crypto & Web3CoinDesk ·

Solana community votes on supply cuts and token burn proposals

Three competing proposals to adjust Solana's tokenomics have all cleared the required quorum in an ongoing community vote. A plan to reduce the rate of new SOL issuance is currently leading but holds only a narrow majority. A separate proposal calling for a significant daily token burn of around $800,000 worth of SOL has yet to reach the two-thirds threshold needed for approval. The votes reflect growing community debate over how best to manage SOL's circulating supply and long-term value. No final decisions have been reached as voting remains active.

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Crypto & Web3CoinDesk ·

Coinbase Bitcoin Premium Turns Positive for First Time Since May

Bitcoin is once again trading at a premium on Coinbase compared to other exchanges, a shift that has not occurred since May. The metric, known as the Coinbase Premium Index, turning positive is seen as a notable development for the cryptocurrency market. This change coincides with Bitcoin attempting to consolidate its position above the $80,000 price level. A positive Coinbase premium is generally interpreted as a sign of stronger buying demand from US-based retail and institutional investors. Analysts view this indicator as a potentially bullish signal for Bitcoin's near-term price trajectory.

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Crypto & Web3CoinDesk ·

Bitcoin stays below $80K as Solana leads weekly crypto gains

Bitcoin remained under the $80,000 mark while the broader cryptocurrency market posted gains over a 24-hour period. Solana outperformed other major cryptocurrencies, leading the rally among large-cap digital assets. Over the course of the week, Bitcoin added approximately 9% to its value while Solana surged around 20%. HYPE was the only major token that failed to record gains during the period. The market moves came ahead of Federal Reserve official Kevin Warsh's anticipated debut at the Jackson Hole economic symposium.

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Crypto & Web3CoinDesk ·

Ripple-Backed XRP Treasury Firm Nears Nasdaq Listing After SEC Clears Merger

Evernorth, an XRP treasury company backed by Ripple, is on the verge of listing on the Nasdaq stock exchange. The U.S. Securities and Exchange Commission has approved the paperwork for Evernorth's planned merger with a shell company. A shareholder vote has been scheduled for September 30 to finalize the deal. If approved, the company will trade on Nasdaq under the ticker symbol XRPN.

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Crypto & Web3CoinDesk ·

Connecticut Sues Kalshi, Adding to Growing Legal Battle Over Prediction Markets

Connecticut has filed a new lawsuit against prediction market platform Kalshi, escalating an ongoing legal dispute involving both state and federal courts. The case adds to a broader wave of litigation targeting the prediction markets industry. Court outcomes so far have been roughly split between rulings favoring and opposing such platforms. The divided results across multiple jurisdictions suggest the legal conflict may ultimately require resolution at the Supreme Court level.

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Crypto & Web3CoinDesk ·

Ethena token rallies on buyback plan and revised VC unlock structure

Ethena's ENA token has surged following two key governance developments aimed at improving its long-term outlook. The protocol is moving to implement a buyback program that would direct revenue generated by the platform toward purchasing ENA tokens. Additionally, Ethena is overhauling its vesting schedule for venture capital investors to reduce the selling pressure that has weighed on the token. Together, these measures are designed to support a revival in growth for Ethena's USDe stablecoin product.

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Crypto & Web3CoinDesk ·

GTA 6 Leaker Dumps Memecoin Hours Before Rockstar's Official Gameplay Reveal

A memecoin tied to leaked Grand Theft Auto VI footage reached a $25 million market cap over nine days. The token was created by the individual responsible for leaking unreleased GTA 6 gameplay clips. Shortly before Rockstar Games released its first official gameplay footage, the creator sold off their entire holdings in the coin. The timing of the sell-off raised concerns about an exit by the token's creator ahead of a major market-moving event.

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Crypto & Web3CoinDesk ·

Polish Olympic Chief Arrested Over Alleged Crypto-Linked Bribery

Polish Olympic Committee head Radosław Piesiewicz has been arrested as part of a criminal investigation by prosecutors. The probe centers on allegations that the CEO of cryptocurrency firm Zondacrypto gifted Piesiewicz a luxury watch valued at 40,000 euros. Authorities suspect the expensive timepiece was given in exchange for assistance in navigating regulatory obstacles. The case highlights growing scrutiny of potential corruption at the intersection of sports governance and the crypto industry.

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Crypto & Web3CoinDesk ·

UK tax office reveals 17,600 crypto investors reported $1.87B in gains in FY2025

The UK's tax authority has published cryptocurrency capital gains data for the first time, covering the 2024-2025 fiscal year. A total of 17,600 taxpayers reported combined crypto profits of $1.87 billion during the period. Among them, 240 individuals each earned more than $1.3 million from their crypto holdings. The disclosure marks a significant step in the UK government's effort to track and tax digital asset gains.

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Crypto & Web3CoinDesk ·

RQD* Clearing Raises $74M in Bain Capital-Led Round to Build Tokenization Infrastructure

U.S. clearing and custody firm RQD* has secured $74 million in a funding round led by Bain Capital. The capital raise signals growing institutional interest in preparing financial infrastructure for tokenized markets. RQD* intends to use the funds to expand its digital asset capabilities and tokenization services. The investment reflects broader efforts by Wall Street to modernize clearing and custody operations ahead of anticipated growth in blockchain-based financial instruments.

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Crypto & Web3CoinDesk ·

Crypto traders watch Fed Chair Warsh's Jackson Hole speech for rate signals

Cryptocurrency traders are closely monitoring Federal Reserve Chair Kevin Warsh's upcoming speech at the Jackson Hole economic symposium. Market participants are watching for clues about the Fed's future monetary policy direction. At least one analyst anticipates Warsh will adopt a hawkish stance on inflation during the address. Despite expectations of tough inflation rhetoric, the same analyst believes the Fed is unlikely to raise interest rates before the November midterm elections. The speech is seen as a key signal for how crypto and broader financial markets may move in the near term.

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Crypto & Web3CoinDesk ·

Clarity Act's Stablecoin Rewards Clause Seen Hurting Community Banks

Community banker Nate Franzén has raised concerns that the Clarity Act could put Main Street banks at a competitive disadvantage. The dispute centers on stablecoin rewards language included in the proposed legislation. Blockchain Association's Summer Mersinger has defended the provision, dismissing the notion that it would harm community banks. Franzén argues that Mersinger's position overlooks the real impact the clause could have on smaller, local banking institutions.

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Crypto & Web3CoinDesk ·

Bitcoin Lightning node operators warned of AI-discovered security bugs

Bitcoin Lightning network node operators have received an emergency security warning following the discovery of critical bugs. The vulnerabilities were identified through AI-assisted work on Bitcoin code. Developers have chosen to withhold technical details for two weeks to allow operators sufficient time to apply fixes. This marks the second Lightning network security emergency this month linked to AI involvement in Bitcoin development.

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Crypto & Web3CoinDesk ·

Mirae Asset Plans $109B Crypto Push After Acquiring Digital X

Mirae Asset Financial Group has acquired Digital X, the company formerly known as South Korean crypto exchange Korbit. Founder Park Hyeon-joo unveiled an ambitious digital asset strategy at an internal employee event. The plan centers on expanding into stablecoins, real-world assets (RWAs), and security token offerings (STOs). Park envisions building the acquired platform into a $109 billion cryptocurrency business. The announcement signals Mirae Asset's serious intent to become a major player in the digital finance space.

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Crypto & Web3CoinDesk ·

Bitcoin Faces Major Supply Resistance at $80,000 Near ETF Holders' Break-Even

Bitcoin is currently testing a significant price level at $80,000, which represents its largest supply cluster. This zone also coincides with the 50-week moving average, a key long-term technical indicator. The $80,000 level is particularly notable as it aligns closely with the average purchase price of ETF holders. A decisive move through this supply wall could have major implications for Bitcoin's near-term price direction.

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Crypto & Web3CoinDesk ·

Unstoppable Domains scraps $2M plan to bring .crypto and .bitcoin to standard web

Unstoppable Domains has abandoned its plans to bring .crypto and .bitcoin domains to the standard internet. The move would have required the company to pay over $2 million in base fees alone. The firm decided to prioritize financial sustainability over pursuing broader internet adoption. By dropping the bids, Unstoppable Domains chose fiscal responsibility rather than expanding its blockchain-based domains to the conventional web.

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Crypto & Web3CoinDesk ·

Bitcoin holds above $79,000 as spot ETFs record eight-day inflow streak

Bitcoin stabilized above $79,000 on Thursday, showing resilience amid broader market uncertainty. Spot bitcoin ETFs recorded net inflows for the eighth consecutive day, marking their longest such streak since April. The sustained institutional interest via ETFs appears to be providing support for Bitcoin's price. Meanwhile, altcoins broadly declined, underperforming Bitcoin during the same period.

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