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Crypto & Web3CoinDesk ·

Ripple CEO reveals firm considered shutdown before fighting SEC lawsuit

Ripple CEO Brad Garlinghouse has disclosed that he and co-founder Chris Larsen once seriously considered shutting the company down entirely. The two leaders contemplated distributing Ripple's XRP holdings directly to shareholders as part of a potential wind-down plan. This decision point arose in the context of the SEC lawsuit filed against Ripple in 2020. Ultimately, Garlinghouse and Larsen chose to fight the legal battle rather than dissolve the company.

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Crypto & Web3CoinDesk ·

Bitcoin BIP 110 Fork Deadline Approaches With No Miner Support

Bitcoin Improvement Proposal 110 (BIP 110) is approaching its activation deadline with zero support from miners. The proposal aims to place a one-year cap on arbitrary data stored on the Bitcoin blockchain, targeting what some consider spam activity. However, prominent figures including Michael Saylor and cryptographer Adam Back have voiced opposition to the measure. Critics argue that framing a spam-related dispute as a consensus-level protocol change could introduce greater risks to the network than the spam problem itself.

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Crypto & Web3CoinDesk ·

Hedera lending protocol Bonzo loses $9M in Supra oracle exploit

Bonzo Finance, a lending protocol on the Hedera blockchain, suffered a loss of approximately $9.05 million due to a security exploit. An attacker took advantage of a verification flaw in a third-party Supra oracle smart contract integrated with the platform. The incident caused Bonzo's total value locked to plummet by around 77%. Oracle exploits of this nature manipulate price data feeds, allowing attackers to drain funds from lending protocols that rely on them for asset valuations.

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Crypto & Web3CoinDesk ·

Crypto IPOs Delayed by Funding Constraints and Investor Caution, Not Regulation

The crypto IPO market is experiencing a slowdown, with companies holding back from going public amid difficult conditions. According to Christian Lopez of Cohen & Company Capital Markets, regulatory hurdles are not the primary obstacle behind these delays. Instead, limited funding availability and a cautious investor sentiment are the key factors stalling crypto listings. Capital is also shifting away from crypto toward the artificial intelligence sector, adding further pressure. Broader macroeconomic uncertainty is compounding the challenges facing crypto firms eyeing public markets.

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Crypto & Web3CoinDesk ·

UK Signals Stronger Commitment to Crypto Regulation

The United Kingdom appears to be taking a more decisive stance on cryptocurrency regulation, according to Wirex CEO Chet Shah. Shah argues that several recent regulatory developments suggest the UK is moving past its previously cautious approach to the sector. The observations come from an industry perspective, with a crypto firm executive pointing to concrete policy steps as evidence of progress. The shift is seen as significant for businesses and investors operating in the UK's digital asset space.

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Crypto & Web3CoinDesk ·

AI Discovers Ethereum Validator Bug But Generates False Positives Too

The Ethereum Foundation deployed coordinated AI agents to audit the software used by its network validators. The AI successfully identified a remotely triggerable crash bug that could take validators offline. However, alongside the genuine finding, the AI also produced numerous confident and well-written reports that turned out to be false positives rather than real vulnerabilities. Human experts were ultimately required to verify and distinguish the actual bug from the fabricated findings. The exercise highlights both the promise and current limitations of AI-driven security auditing in blockchain infrastructure.

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Crypto & Web3CoinDesk ·

Analysts forecast Bitcoin at $300K–$500K by 2029, but data casts doubt

Several Bitcoin analysts are projecting the cryptocurrency could reach between $300,000 and $500,000 by 2029. These bullish forecasts have gained traction in crypto circles, fueling optimism among investors. However, key market data appears to challenge the plausibility of such dramatic price surges. Analysts at CoinDesk suggest that Bitcoin may be entering a more mature phase, where the era of extreme parabolic gains could be coming to an end.

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Crypto & Web3CoinDesk ·

Meta CDO Calls Agentic Commerce the Future, Eyes Stablecoin Adoption

Meta's Chief Data Officer Alex Schultz has described agentic commerce as the next major frontier in business. Schultz indicated that stablecoins are already an accepted premise within Meta's internal thinking. However, he acknowledged that the bigger challenge lies in driving broader global adoption beyond the company. His comments highlight Meta's forward-looking stance on integrating digital currencies into automated, AI-driven commerce.

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Crypto & Web3CoinDesk ·

US CBDC Ban Takes Effect at Midnight via Bipartisan Housing Bill

A temporary ban on a US government-issued digital dollar is set to take effect at midnight as part of a bipartisan housing bill. The legislation includes a provision limiting the development of a central bank digital currency (CBDC). President Donald Trump declined to sign the bill, but it is nonetheless proceeding into law. The CBDC restriction is among several provisions embedded within the broader housing legislation.

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Crypto & Web3CoinDesk ·

Hyundai Becomes First Major South Korean Firm to Use Stablecoins Internally

Hyundai has become the first major South Korean company to adopt stablecoin-based transfers for internal financial operations. The automaker is using stablecoins to move funds between its international divisions more efficiently. This move reflects a growing trend among global corporations exploring blockchain-based payment solutions. Companies are increasingly turning to stablecoins as a faster and more cost-effective alternative to traditional cross-border money transfers.

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Crypto & Web3CoinDesk ·

27-Firm Consortium Launches AI Agent Dispute Resolution Court

The Genlayer Foundation is spearheading a 27-company consortium aimed at standardizing dispute resolution for AI agents. Major crypto players including OKX, MetaMask, and Matter Labs are among the backers of the initiative. The coalition seeks to make AI-based payments, escrow, and dispute resolution systems interoperable across platforms. The move reflects growing industry recognition that autonomous AI agents require dedicated legal and financial infrastructure to operate reliably.

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Crypto & Web3CoinDesk ·

Circle Wins U.S. Trust Bank Approval in Push for Federal Banking Status

Circle has received approval to operate as a U.S. trust bank, marking a significant step in its expansion into regulated finance. The move positions the stablecoin issuer more firmly within the traditional financial system. Circle joins a growing number of crypto companies pursuing federal banking licenses. The trend reflects a broader industry shift toward seeking formal regulatory recognition in the United States.

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Crypto & Web3CoinDesk ·

Bitcoin retests $64,400 resistance as altcoin sentiment turns positive

Bitcoin climbed back to $64,400 on the weekend, revisiting a price level it had failed to break through earlier in the week on Monday. The move comes as cryptocurrency markets showed resilience despite weakness in traditional equity markets. A successful break above this resistance level could pave the way for bitcoin to target its June 15 peak of $67,250. Broader altcoin sentiment also appeared to be improving heading into the weekend.

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Crypto & Web3CoinDesk ·

Polymarket Applies to Offer Margin Trading for U.S. Prediction Market Users

Polymarket has filed an application seeking regulatory approval to introduce margin trading for its U.S.-based customers. The move would allow users to take positions without requiring full collateral upfront. The application follows a similar authorization granted to competitor Kalshi in March. Polymarket appears to be responding to competitive pressure by pursuing expanded trading capabilities for American users.

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Crypto & Web3CoinDesk ·

Bitcoin spends 307 days in $60K-$70K range, third longest consolidation ever

Bitcoin has been trading within the $60,000 to $70,000 price band for 307 consecutive days. This makes it the third longest consolidation period Bitcoin has ever recorded within any single $10,000 price range. The milestone highlights a prolonged phase of price stagnation for the world's largest cryptocurrency. Such extended consolidation periods are closely watched by analysts as potential indicators of a future significant price move.

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Crypto & Web3CoinDesk ·

Metaplanet partners with JPYC and Progmat to develop Bitcoin-backed credit in Japan

Metaplanet, a bitcoin treasury company, is exploring the creation of tokenized credit products backed by bitcoin in Japan. The firm is collaborating with fintech companies JPYC and Progmat to develop these financial instruments. The initiative aims to establish efficient, round-the-clock credit markets in the country. By leveraging bitcoin as collateral, the partnership seeks to bring a new class of digital credit products to Japanese markets.

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Crypto & Web3CoinDesk ·

Bitcoin's Long-Term Momentum Indicator Turns Bullish, Key Levels in Focus

Bitcoin has received a bullish signal from a long-term momentum gauge known as the MACD, suggesting potential further upside for the cryptocurrency. The smoother, long-term version of this technical indicator has flipped to a positive reading, which analysts consider a reliable sign of strengthening price momentum. Traders and investors are now watching specific price levels to determine whether the current bounce can develop into a sustained uptrend. The direction Bitcoin takes at these key levels will be critical in confirming whether the bullish momentum holds or fades.

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Crypto & Web3CoinDesk ·

Bitcoin ETFs shed $95M, Ether funds end five-day inflow streak on Thursday

Spot Bitcoin ETFs recorded outflows of approximately $95 million on Thursday, while Ether funds saw roughly $52 million exit the same day. The Ether fund outflows were notably significant as they snapped a five-day consecutive inflow streak. Both developments signal a pullback in institutional crypto investment flows. This occurred even as cryptocurrency prices moved higher during the same period, creating a disconnect between market performance and fund flows.

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