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Crypto & Web3

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Crypto & Web3CoinDesk ·

XRP and Ether Lead Crypto Decline as Bitcoin Struggles Below $65,000

Bitcoin failed to sustain the $65,000 level for the fourth consecutive day amid renewed market uncertainty. XRP and Ether led losses across the broader cryptocurrency market during this period. A rally in oil prices has reignited concerns about inflation, adding pressure on risk assets including cryptocurrencies. Traders are now closely watching Wednesday's upcoming U.S. inflation data, which could influence market direction. Despite the current dip, some traders remain focused on a potential move toward the $70,000 mark for Bitcoin.

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Crypto & Web3CoinDesk ·

SEC to Vote This Week on First Major Crypto Rulemaking Process

The U.S. Securities and Exchange Commission is set to hold a meeting this week to begin its first significant rulemaking effort targeting the cryptocurrency sector. The vote will initiate a formal regulatory proposal aimed at governing certain digital asset offerings. This marks a notable step by the SEC toward establishing structured oversight of the crypto industry. The proposed rulemaking process, if advanced, could shape how digital asset issuances are regulated under U.S. securities law.

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Crypto & Web3CoinDesk ·

Bitcoin mega-wallets holding 10,000+ BTC reach six-month high of 90

On-chain data reveals that the number of elite Bitcoin wallets holding more than 10,000 BTC has climbed to 90, marking a six-month high. This accumulation by large holders, often called whales, builds on earlier buying activity seen among mid-sized wallet addresses. The trend emerges against a backdrop of industry developments including fallout surrounding Coldcard and delays to the Clarity Act. Analysts view rising large-wallet counts as a signal of growing conviction among the most committed long-term Bitcoin holders.

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Crypto & Web3CoinDesk ·

Trump Media Reports $361M Crypto Loss as Bitcoin Holdings Slide in Q2

Trump Media, the parent company of Truth Social, disclosed significant losses in its cryptocurrency portfolio during the second quarter. The company held 9,477 Bitcoin valued at approximately $557 million as of the end of June. Its position in Cronos also declined sharply in value during the same period. The combined losses across its crypto holdings amounted to $361 million. The figures highlight the financial risks the media firm faces from its exposure to volatile digital assets.

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Crypto & Web3CoinDesk ·

Bitwise analyst says Circle is undervalued amid stablecoin market growth

Bitwise analyst Ryan Rasmussen argues that investors are currently mispricing Circle, the stablecoin issuer behind USDC. Rasmussen believes the market is underestimating Circle's potential as the broader stablecoin sector moves toward multi-trillion dollar valuations. He points to Circle's expanding payments infrastructure as a key factor driving its long-term value. The comments suggest growing institutional interest in stablecoin-related companies as the sector matures.

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Crypto & Web3CoinDesk ·

Strategy holds $4.75B cash reserve as Bitcoin alone fails to satisfy investors

Strategy has accumulated a $4.75 billion cash cushion alongside its substantial Bitcoin holdings. The move comes after the company recognized that traditional investors do not treat Bitcoin reserves as an equivalent to cash or dollars. Despite holding massive amounts of Bitcoin, Strategy found that institutional and conventional investors still demand liquid dollar reserves. The cash buffer reflects a strategic shift to meet broader investor expectations beyond its crypto-heavy balance sheet.

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Crypto & Web3CoinDesk ·

Grayscale Quietly Withdraws ETF Plans for Cardano, Polkadot and Hedera

Grayscale Investments has abandoned its plans to launch exchange-traded funds for three cryptocurrencies: Cardano, Polkadot, and Hedera. The asset manager confirmed it no longer intends to move forward with these proposed offerings. None of the filings had received regulatory approval or become effective. No securities were issued or sold in connection with the withdrawn plans.

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Crypto & Web3CoinDesk ·

Jupiter's Lend v2 Lets Deposits Double as Trading Liquidity on Solana

Solana-based DeFi platform Jupiter has launched Lend v2, a new lending product that allows a single deposit to serve dual purposes. The feature converts both deposited and borrowed assets into liquidity for trading activity. Returns for users are tied to the volume of swap traffic that Jupiter's router directs toward the new vaults. The model means higher yields depend on whether the platform generates sufficient trading flow to support the system.

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Crypto & Web3CoinDesk ·

Bitmine Slows Ethereum Purchases, Redirects Capital to Share Buybacks

Bitmine has scaled back its Ethereum acquisition strategy, shifting focus toward repurchasing its own shares. Chairman Tom Lee indicated that easing financial conditions could provide a favorable backdrop for the broader cryptocurrency market. The pivot comes despite ongoing uncertainty in the U.S. crypto regulatory landscape. The CLARITY Act, a key piece of crypto legislation, failed to advance to a Senate vote before lawmakers departed for the August recess.

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Crypto & Web3CoinDesk ·

Solstice Finance Launches Solana's First Strategy STRC Structured Product

Solstice Finance has introduced the first Strategy STRC-based product on the Solana blockchain. The offering takes the form of a vault that processes income generated from Strategy's preferred stock. This income is then divided into two distinct token types to suit different investor risk appetites. The senior token is designed for lower-risk investors, while the junior token targets those willing to accept higher risk for potentially greater returns.

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Crypto & Web3CoinDesk ·

Strategy raises $653M selling MSTR shares, trims Bitcoin holdings slightly

Strategy has raised $653 million by selling 1,690 Bitcoin, according to a CoinDesk report. The firm offloaded shares of its MSTR stock to fund the transaction, boosting its USD cash reserve to $4.65 billion. Despite the sale, Strategy retains a substantial Bitcoin position, with holdings now standing at 840,447 BTC. The move signals a selective liquidity strategy rather than a broader retreat from its well-known Bitcoin accumulation approach.

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Crypto & Web3CoinDesk ·

Coinsbuy crypto exchange loses $8M in coordinated TRON and Ethereum attack

Crypto exchange Coinsbuy has suffered a loss of approximately $8 million following a coordinated attack spanning two blockchains, TRON and Ethereum. Onchain forensic analysis has linked the breach to a single threat actor responsible for draining funds across both networks. The majority of the stolen assets were subsequently routed through FixedFloat, a cryptocurrency exchange service. Investigators have not yet determined the exact attack vector used to carry out the exploit. The incident highlights growing risks of multi-chain vulnerabilities targeting centralized crypto platforms.

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Crypto & Web3CoinDesk ·

UK's FCA Set to Unveil Draft Rules for Tokenized Digital Assets Soon

The UK's Financial Conduct Authority (FCA) is working on new regulatory rules specifically targeting tokenized digital assets, including tokenized gold. The watchdog is expected to announce progress on these draft rules within the coming months. The move reflects growing regulatory attention toward blockchain-based representations of real-world assets in the UK. By establishing clearer guidelines, the FCA aims to bring greater oversight and legitimacy to the emerging tokenized assets market.

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Crypto & Web3CoinDesk ·

Bitcoin holds above $65,000 as Iran-Oman deal talk eases Hormuz tensions

Bitcoin climbed to $65,209 as reports emerged that Iran may be negotiating a deal with Oman to reopen the Strait of Hormuz. The potential agreement helped ease concerns over disruption to one of the world's most critical shipping routes. The positive sentiment extended to broader markets, with Nasdaq 100 index futures rising 0.45%. Reduced geopolitical risk in the region appeared to boost investor appetite for risk assets, including cryptocurrencies.

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Crypto & Web3CoinDesk ·

Bitcoin Volatility Index Hits 2025 Low as Options Demand Dries Up

Bitcoin's BVIV volatility index has dropped to its lowest level of 2025, reflecting a sharp collapse in overall options demand. Despite the subdued volatility environment, traders continue to pay a premium for downside protection, signaling lingering caution. The trend of overwriting — selling call options to generate yield — surged amid the low-volatility conditions. This divergence suggests that while market activity has quieted, investors remain wary of potential price declines.

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Crypto & Web3CoinDesk ·

Hedge Funds Turn Net Long on Bitcoin CME Futures, Abandoning Short Bets

Leveraged hedge funds on the Chicago Mercantile Exchange have shifted their bitcoin futures positions from net short to net long, marking a rare reversal in their typical stance. The change comes as futures yields have weakened significantly, eroding the profitability of the once-popular basis trade strategy. The basis trade involved funds simultaneously shorting futures while holding spot bitcoin to capture the yield spread between the two. With that spread now compressed, the structural incentive to maintain short futures positions has largely disappeared. As a result, hedge funds appear to be repositioning to directly benefit from a potential bitcoin price rally.

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Crypto & Web3CoinDesk ·

Crypto Week Ahead: U.S. CPI Data, Securitize and Gemini Earnings in Focus

The week beginning August 10 is set to be a significant one for the crypto and broader financial markets. Key economic data, including the U.S. Consumer Price Index (CPI) inflation report, is expected to draw close market attention. Crypto-linked firms Securitize and Gemini are also scheduled to release earnings during the period. These events are expected to influence sentiment across both traditional and digital asset markets. Investors and analysts will be watching the data closely for signals on inflation trends and the financial health of major crypto companies.

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Crypto & Web3CoinDesk ·

Mastercard Acquires Stablecoin Firm BVNK in $1.8 Billion Deal

Payments giant Mastercard has agreed to acquire stablecoin startup BVNK in a deal valued at $1.8 billion. BVNK, which specializes in stablecoin-based payment infrastructure, attracted early backing from investor Concentric, among others. Concentric has since offered an insider perspective on the startup's growth trajectory leading up to the acquisition. The deal marks a significant move by Mastercard into the stablecoin and digital payments space.

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Crypto & Web3CoinDesk ·

Robinhood Launches Crypto Trading in UK With AI-Powered App Features

Robinhood has expanded its cryptocurrency trading services to the United Kingdom through an all-in-one app. The platform integrates artificial intelligence to enhance the trading experience for UK users. As part of the launch, Robinhood is introducing a feature called 'Robinhood Cortex Digests for Crypto,' a generative AI-powered widget. This tool is designed to analyse breaking news and other relevant data to assist users in making informed trading decisions.

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