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Crypto & Web3CoinDesk ·

Gemini partners with Apex to expand regulated crypto prediction markets

Cryptocurrency exchange Gemini has announced a partnership deal with Apex to broaden its presence in prediction markets. Under the agreement, Gemini would become the exclusive CFTC-regulated venue for crypto event contracts distributed through Apex's futures commission merchant. The tie-up is designed to give more traders access to regulated crypto-based event contracts. The deal reflects growing institutional interest in bringing prediction market products under formal regulatory frameworks.

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Crypto & Web3CoinDesk ·

Bitcoin holds near $78,000 after 24% weekly surge driven by Treasury buyback news

Bitcoin traded relatively flat on Monday, hovering near the $78,000 mark after a significant rally the previous week. The cryptocurrency surged approximately 24% last week, marking its strongest weekly performance in three years. The rally was largely triggered by a Treasury buyback announcement, which caused a short squeeze that liquidated over $3 billion in short positions. Meanwhile, gold continued to climb and altcoins entered a consolidation phase following the broader market's strong weekly gains.

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Crypto & Web3CoinDesk ·

Fed Study: Showing Bitcoin's Past Gains Boosts Crypto Ownership by 23%

A Federal Reserve experiment has revealed a strong link between awareness of Bitcoin's historical returns and new crypto adoption. Households that were shown Bitcoin's prior-year performance were 23% more likely to report owning cryptocurrency in a follow-up survey. The findings suggest that Bitcoin price rallies play a direct role in attracting first-time buyers into the crypto market. The study highlights how past gains act as a powerful signal that draws in new retail investors.

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Crypto & Web3CoinDesk ·

Bitcoin records second-best weekly gain since early 2021 amid market tailwinds

Bitcoin posted its second-strongest weekly performance since early 2021, marking a significant rebound for the cryptocurrency market. The rally was driven by a combination of factors including Treasury buybacks, strong ETF inflows, and a weakening US dollar. These macroeconomic and institutional forces collectively fueled a broader breakout across the crypto sector. The surge reflects growing investor confidence as both retail and institutional demand appears to be strengthening.

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Crypto & Web3CoinDesk ·

Jackson Hole, U.S. PCE Data, and IREN Earnings Headline Crypto Week

The week beginning August 24 brings several key events with potential implications for crypto markets. The Federal Reserve's annual Jackson Hole Symposium is expected to draw attention as investors look for signals on future interest rate policy. U.S. Personal Consumption Expenditures (PCE) price data, a closely watched inflation metric, is also due for release during the week. Crypto mining firm IREN is scheduled to report its earnings, offering insight into the health of the mining sector. Together, these events are likely to influence market sentiment across both traditional finance and digital asset markets.

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Crypto & Web3CoinDesk ·

Bitcoin Steadies Near $77,000 After 22% Weekly Surge; Altcoins Consolidate

Bitcoin is holding its position close to $77,000 following a strong 22% gain over the past week. Altcoins XRP and Zcash, which led last week's rally, are pulling back after their significant price increases. Markets appear to be entering a consolidation phase as early momentum slows. Investor attention is now shifting toward Federal Reserve Chair Warsh's first appearance at the Jackson Hole economic symposium. His remarks are expected to influence broader market sentiment in the near term.

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Crypto & Web3CoinDesk ·

Ether Outperforms Bitcoin as ETH/BTC Chart Forms Bullish Golden Cross

Ether has been significantly outperforming bitcoin in recent trading, with the ETH/BTC ratio showing notable strength. A technical chart pattern known as a 'golden cross' has formed on the ETH/BTC pair, which analysts consider a bullish signal. The golden cross occurs when a short-term moving average crosses above a long-term moving average, typically indicating upward momentum. According to technical analysis, this pattern suggests ether's outperformance relative to bitcoin may continue in the near term.

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Crypto & Web3CoinDesk ·

Term Finance loses $8.5M as attacker exploits cheap governance voting power

Ethereum-based lending protocol Term Finance suffered an $8.5 million loss following a targeted exploit. An attacker acquired voting tokens to gain control over the protocol's governance mechanism. The incident highlights a critical vulnerability where the cost of buying voting power was lower than the value of assets under the protocol's control. This type of governance attack underscores growing concerns about lightly held voting tokens in decentralized finance protocols.

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Crypto & Web3CoinDesk ·

Ray Dalio recommends small Bitcoin allocation amid growing U.S. debt concerns

Bridgewater Associates founder Ray Dalio has advised investors to hold a modest amount of Bitcoin as risks surrounding U.S. debt continue to mount. Dalio connected recent stress in Treasury markets to his long-held framework for analyzing debt crises. While he acknowledged Bitcoin's role as a potential hedge, he made clear that gold remains his preferred store of value in such an environment. His comments reflect a cautious but notable endorsement of cryptocurrency from one of the world's most prominent macro investors.

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Crypto & Web3CoinDesk ·

US Treasury Buyback Fails to Lower Yields, Bitcoin and Gold Rally Instead

Treasury Secretary Bessent's $4 billion bond buyback program was designed to push Treasury yields lower as part of broader debt management efforts. However, the initiative did not achieve its intended effect, with yields remaining stubbornly elevated. Instead of the expected bond market relief, the move appeared to fuel a surge in bitcoin and gold prices. The outcome highlights investor skepticism toward traditional debt tools and growing appetite for alternative assets. The episode raises questions about the government's ability to manage borrowing costs through buyback mechanisms alone.

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Crypto & Web3CoinDesk ·

Fasset Hits $1B Valuation After $68M Raise Backed by SBI

Stablecoin neobank Fasset has achieved a $1 billion valuation following a $68 million funding round. Japanese financial giant SBI is among the backers supporting the company's payments expansion. The firm's revenue has grown six-fold, driven by increasing adoption of stablecoin payments and settlement services. CEO Mohammad Raafi Hossain shared the details of the milestone with CoinDesk.

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Crypto & Web3CoinDesk ·

Bitcoin holds above $77,000 after 21% weekly surge; XRP jumps 46%

Bitcoin has maintained its position above $77,000 following a strong 21% gain over the past week. XRP outperformed the broader crypto market, posting an even sharper 46% rise over the same period. Attention is also turning to Kevin Warsh's anticipated debut at the Jackson Hole economic symposium, which is drawing market interest. Meanwhile, Asian equity markets retreated, with shares of Samsung and Alibaba among the notable decliners.

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Crypto & Web3CoinDesk ·

SEC Publishes Reg Crypto Proposal, Opens 60-Day Public Comment Period

The U.S. Securities and Exchange Commission has released a new regulatory proposal specifically targeting the cryptocurrency sector. The proposal, referred to as Reg Crypto, was published last week by the SEC. Members of the public now have a 60-day window to submit their comments on the proposed rules. The move signals a continued push by U.S. regulators to establish a formal framework governing the crypto industry.

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Crypto & Web3CoinDesk ·

XRP Posts Best Weekly Gain in 21 Months with 50% Price Surge

XRP has recorded a 50% price increase this week, marking its strongest weekly performance in 21 months. The rally represents the token's best gains since November 2024. The surge is being partly attributed to optimism around U.S. Treasury buyback plans, which have sparked hopes of yield curve control measures. Such monetary policy expectations have broadly lifted risk assets, including cryptocurrencies. XRP's sharp weekly climb has drawn renewed attention to the token amid a wider crypto market uptick.

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Crypto & Web3CoinDesk ·

Crypto Card Spending Surpasses $1 Billion as Stablecoins Drive Daily Use

Cryptocurrency-linked card transactions have exceeded $1 billion in tracked volume, more than tripling over the past year. Stablecoins USDC and USDT together accounted for over 70% of all spending on these cards. Users are increasingly turning to crypto for routine purchases such as groceries, ride-hailing services, and subscription plans. The trend signals a notable shift from speculative crypto use toward practical, everyday financial transactions.

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Crypto & Web3CoinDesk ·

Coinbase AI Chief: Autonomous Agents Could Drive Stablecoin Adoption at Scale

Coinbase's head of AI product believes artificial intelligence agents could become the next major wave of cryptocurrency users. The executive compared the current state of agentic payments to the early Napster and LimeWire era of digital file sharing, suggesting the technology is still in its infancy. AI agents are seen as natural users of stablecoins due to their ability to transact autonomously without traditional banking infrastructure. The comments highlight growing industry interest in how autonomous software systems could reshape digital payments.

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Crypto & Web3CoinDesk ·

BitMart explores partial restart and creditor repayments after shutdown announcement

Cryptocurrency exchange BitMart is considering a partial resumption of operations and payouts to creditors, weeks after announcing it would shut down. The exchange has brought on law firm White & Case to serve as its restructuring counsel. A detailed roadmap outlining the path forward is expected to be released by September 9. The developments signal a potential shift in strategy as BitMart navigates its post-shutdown obligations.

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Crypto & Web3CoinDesk ·

Sandbox halts Base and BNB Chain bridging after security exploit

Web3 gaming platform The Sandbox has disabled token bridging on its Base and BNB Chain networks following a security exploit. The company took the step to isolate affected tokens and contain the damage. Users have been warned against trading SAND tokens on the two impacted networks until further notice. The Sandbox stated that the exploit's impact was minimal, affecting less than 0.01% of the total SAND token supply.

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Crypto & Web3CoinDesk ·

Tokenized Stocks Could Repeat 1960s Wall Street Crisis, Warns Fairmint CEO

Fairmint CEO Joris Delanoue has raised concerns about the growing tokenized stocks market, warning it may be heading toward a repeat of Wall Street's 1960s paper crisis. The original crisis was caused by an overwhelming backlog of physical stock certificates that exchanges could not process efficiently. Delanoue argues that today's tokenized stock ecosystem faces a similar risk due to fragmented systems and a lack of unified standards. Without coordinated infrastructure, the proliferation of incompatible platforms could create operational bottlenecks reminiscent of that earlier financial disruption.

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Crypto & Web3CoinDesk ·

Kalshi blocked in Washington state amid regulatory and legal battles

Prediction market platform Kalshi has been cut off from customers in Washington state following a regulatory dispute. The company is challenging the restriction through court proceedings as it pushes back against the block. Meanwhile, the Commodity Futures Trading Commission (CFTC), Kalshi's federal regulator, continues to pursue new rules governing prediction markets. The situation reflects growing tension between state-level regulators and federally overseen prediction market platforms. The outcome of the legal and regulatory battles could have broader implications for how prediction markets operate across the United States.

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