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Crypto & Web3CoinDesk ·

Perpetual Contracts Expand Beyond Crypto Into Broader Financial Markets

Perpetual contracts, the leveraged 24/7 trading instruments pioneered by the cryptocurrency industry, are increasingly being applied to assets beyond digital currencies. Matthew Fisher of Katana Network argues that the perpetual contract model is evolving into a universal trading mechanism. Originally developed and refined within the crypto ecosystem, these instruments offer continuous, leveraged exposure without expiry dates. The trend signals a potential structural shift in how a wide range of financial assets could be traded in the future.

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Crypto & Web3CoinDesk ·

Telegram faces $38M fine in Australia over terror content removal failure

Messaging platform Telegram is facing legal action in Australia over allegations that it failed to remove terror-related content from its platform. The case carries a potential fine of up to $38 million if the company is found liable. The Australian legal action comes just one day after Telegram founder Pavel Durov was charged by Russian authorities. The back-to-back legal pressures place Telegram under significant scrutiny across multiple jurisdictions simultaneously.

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Crypto & Web3CoinDesk ·

South Korea to tax crypto gains above $1,740 starting January 2027

South Korea has announced plans to impose a tax on cryptocurrency gains exceeding approximately $1,740, with the measure set to take effect from January 1, 2027. The decision signals that the government does not intend to delay the policy for a fourth consecutive time. The issue has now moved to parliament, where it is expected to be debated further. The move reflects South Korea's ongoing effort to regulate its significant cryptocurrency market and bring digital asset gains within the formal tax framework.

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Crypto & Web3CoinDesk ·

Bitcoin holds near $64K as Iran strikes and Fed hawkishness rattle markets

Bitcoin remained steady around $64,000 despite a wave of global market turbulence. Iran launched ballistic missiles, triggering an overnight oil price surge of approximately 8%. The Dow Jones fell 2.2% while the Nasdaq dropped to a three-month low in response. The Federal Reserve added to market unease by signaling that interest rates could still rise further. Crypto's relative stability amid these pressures highlighted its growing resilience as an asset class.

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Crypto & Web3CoinDesk ·

BitRiver Founder Igor Runets Charged in Russia Over $12.5M Fraud Allegations

Igor Runets, the founder of Russian Bitcoin mining firm BitRiver, has been charged with fraud in Russia. Authorities allege he failed to fulfil obligations under a contract worth $12.5 million. Runets has been moved from house arrest to a pre-trial detention facility as the case progresses. The charges mark a significant legal escalation for the prominent figure in Russia's cryptocurrency mining industry.

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Crypto & Web3CoinDesk ·

Luno Cuts 20% of Workforce as Automation Grows and Retail Trading Weakens

Crypto exchange Luno has laid off 20% of its employees, citing a push toward automation and a slowdown in retail trading activity. The company is owned by Digital Currency Group (DCG). This marks the second significant round of layoffs for Luno, which previously reduced its workforce by 35% in January 2023 due to difficult market conditions. The latest cuts reflect broader challenges facing retail-focused crypto platforms as trading volumes remain subdued.

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Crypto & Web3CoinDesk ·

Bitcoin Steadies Near $64,000 as Microsoft AI Boost Lifts Stock Futures

Bitcoin held near the $64,000 level as positive sentiment in broader markets provided support. S&P 500 futures rose 0.2% and Nasdaq 100 contracts climbed 0.4%, offering some recovery after the index had recently slipped into correction territory. Microsoft shares surged 8% in premarket trading after its cloud division reported its fastest growth in four years. The tech giant also managed to keep spending in check despite heavy investment in artificial intelligence. The strong Microsoft results helped lift overall market confidence across both equities and crypto assets.

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Crypto & Web3CoinDesk ·

How Perpetual Futures Dominate Bitcoin, Ether and Even SpaceX Price Discovery

Perpetual futures contracts have become the dominant mechanism for price discovery in bitcoin and ether markets. These derivative instruments allow traders to speculate on asset prices without expiry dates, giving them outsized influence over market direction. When traders applied the same perpetual futures framework to SpaceX, a private company, they managed to price its valuation ahead of the company's IPO more accurately than traditional Wall Street analysts. The SpaceX case highlighted just how far the influence of crypto-native trading tools has extended beyond digital assets. The episode raises broader questions about whether decentralized derivatives markets are becoming a more reliable pricing mechanism than conventional financial institutions.

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Crypto & Web3CoinDesk ·

Fed Rate Decision Triggers $280M in Crypto Liquidations Across 90,000 Traders

Extreme price swings in Bitcoin and Ether wiped out approximately $280 million in trading positions following the Federal Reserve's latest interest rate decision. Around 90,000 traders were liquidated amid the turbulence, despite prices remaining largely unchanged over the 24-hour period. Unusually, losses were distributed almost equally between bullish and bearish positions, reflecting the sharp two-way volatility. The episode highlights how major macroeconomic events can trigger significant liquidation cascades in crypto markets even without a clear directional price move.

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Crypto & Web3CoinDesk ·

Fed's Hawkish Pause Rattles Bitcoin Analysts Over What Comes Next

The US Federal Reserve held interest rates steady but struck a hawkish tone, signaling caution over future cuts. Four crypto analysts broadly agree this stance shifts the outlook for risk assets like bitcoin. However, they are divided on the timing of bitcoin's true market test — some believe it is already underway, while others expect it roughly six weeks from now. The disagreement reflects broader uncertainty about how monetary policy will influence crypto markets in the near term.

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Crypto & Web3CoinDesk ·

Ether and XRP Hold Steady as Asian Chip Stocks Stabilize

Major cryptocurrencies showed little price movement as selling pressure in Asia's semiconductor sector began to ease. Ether and XRP were largely flat during the period, offering no significant gains or losses. Samsung's reported 250-fold surge in profits helped calm broader market nerves around chip stocks. Despite the brief stabilization, most major crypto assets remained in negative territory on a weekly basis. Hyperliquid's HYPE token was among the harder-hit assets, declining approximately 8% over the week.

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Crypto & Web3CoinDesk ·

AI Cracks Cryptographic Algorithm in 60 Hours, Raising Bitcoin Quantum Concerns

An AI system called HAWK has successfully weakened a cryptographic algorithm in just 60 hours, highlighting the accelerating threat of quantum computing to digital security. While HAWK is not deployed in any live system and Bitcoin does not use the specific algorithm targeted, the development is significant for the broader cryptographic landscape. Bitcoin developers are already working to build quantum-resistant protections, but this breakthrough suggests the timeline for such vulnerabilities may be shorter than anticipated. The incident underscores the urgency of the quantum security race that cryptocurrency networks and other digital infrastructure must win before powerful quantum machines become widely accessible.

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Crypto & Web3CoinDesk ·

Bipartisan Senators Propose Stricter Crypto Ethics Rules in Clarity Act Revision

A bipartisan pair of U.S. senators is working to revise the ethics provisions of the Clarity Act, a key piece of cryptocurrency legislation. The senators are said to have developed a tougher approach than the version previously accepted by former President Donald Trump. Their goal is to craft language strong enough to secure sufficient votes for the bill's passage. The revised ethics section focuses on crypto-related conflict-of-interest limits. Details of the proposal have emerged through insider sources familiar with the ongoing negotiations.

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Crypto & Web3CoinDesk ·

Robinhood shares fall 4% as crypto trading revenue drops 38% year-on-year

Robinhood's stock slid 4% despite the company posting better-than-expected overall earnings. The brokerage generated $100 million in cryptocurrency trading revenue, marking a 38% decline compared to the same period last year. The drop in crypto activity weighed on investor sentiment even as other segments performed well. Revenue from options trading, equities, and prediction markets helped offset the shortfall in crypto earnings.

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Crypto & Web3CoinDesk ·

Ethereum Pivots to Layer-2 Support as Crypto Perpetual Futures Market Grows

The crypto perpetual futures market is experiencing a significant boom, with much of the trading activity occurring on layer-2 networks. As faster competing blockchains vie for dominance, Ethereum's strategic role appears to be evolving. Some developers now argue that Ethereum's core value lies not in direct competition but in underpinning the layer-2 platforms where futures trading is thriving. This shift in perspective suggests a redefined purpose for Ethereum within the broader crypto trading ecosystem.

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Crypto & Web3CoinDesk ·

Federal Reserve holds interest rates steady amid policy uncertainty

The U.S. Federal Reserve decided to keep interest rates unchanged, extending its current pause in monetary policy adjustments. Markets were notably divided ahead of the decision, reflecting uncertainty about the central bank's next move — an unusual dynamic compared to recent years. Attention is now turning to Kevin Warsh, who is expected to outline a future policy roadmap. The hold signals a cautious stance from the Fed as it navigates evolving economic conditions.

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Crypto & Web3CoinDesk ·

Morgan Stanley: Tokenization and 24/7 Markets Are Ending the 9-to-5 Banking Era

Morgan Stanley executives say the traditional 9-to-5 banking day is coming to an end. The shift is being driven by the rise of tokenization and round-the-clock financial markets. These developments are pushing the banking sector toward always-on operations. As digital assets and blockchain-based finance grow, continuous banking is becoming a practical reality rather than a distant concept.

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Crypto & Web3CoinDesk ·

Brale Unveils Protocol to Solve Liquidity Fragmentation in Custom Stablecoins

Stablecoin infrastructure firm Brale has announced a new protocol aimed at addressing a key obstacle to scaling custom tokens. CEO Ben Milne raised concerns that the current bridge model used to move assets across blockchains is not built to handle mass adoption. The problem is expected to worsen as hundreds of companies begin issuing their own stablecoins, leading to fragmented liquidity. Brale's new protocol is designed to tackle this fragmentation challenge before it becomes a systemic issue in the broader stablecoin ecosystem.

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Crypto & Web3CoinDesk ·

Wall Street lowers Coinbase Q2 forecasts amid crypto spot trading slowdown

Wall Street analysts have revised down their expectations for Coinbase ahead of its upcoming earnings report. The downward adjustments reflect a noticeable slowdown in spot cryptocurrency trading activity during the second quarter. Reduced retail and institutional trading volumes are seen as the primary driver behind the tempered outlook. Analysts are also closely watching the progress of pending U.S. cryptocurrency legislation, which could significantly shape Coinbase's future business environment.

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