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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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Crypto & Web3CoinDesk ·

Most 2026 Crypto Hacks Exploit Keys and Governance, Not Code Bugs

Nearly $972 million in cryptocurrency has been stolen in 2026, according to a new analysis by Immunefi's Mitchell Amador. Amador notes that the majority of these losses stem from compromised private keys, signers, and governance mechanisms rather than smart contract vulnerabilities. The findings challenge a widespread assumption in the industry that passing a security audit equates to being fully protected. Amador argues that an audit verifies code quality at a single point in time but does not account for ongoing operational and access-control risks.

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Crypto & Web3CoinDesk ·

Ethereum Foundation expands board to four with security researcher pcaversaccio

The Ethereum Foundation has appointed security researcher pcaversaccio, widely known as 'pc', to its board of directors. The move is part of ongoing leadership changes at the organization. With this addition, the foundation's board now comprises four members. pcaversaccio is a recognized figure in the Ethereum ecosystem, particularly for his work in security research.

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Crypto & Web3CoinDesk ·

How BitMEX's 2016 Perpetual Futures Contract Transformed Crypto Trading

BitMEX, a cryptocurrency derivatives exchange, launched the first-ever perpetual futures contract in 2016, a financial instrument that would go on to reshape how digital assets are traded globally. Co-founder Arthur Delo described the company at the time as a lean, experimental startup with little certainty about whether the product would succeed. The team adopted a test-and-learn approach, believing the market would ultimately validate or reject the innovation. The perpetual futures contract, which has no expiry date unlike traditional futures, became one of the most widely used instruments in crypto trading. BitMEX's early bet proved transformative, with the product now replicated across virtually every major crypto derivatives platform worldwide.

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Crypto & Web3CoinDesk ·

Zcash's Ironwood Pool Attracts $80M in ZEC Within 24 Hours of Launch

Approximately $80 million worth of ZEC tokens migrated into Zcash's newly launched Ironwood pool within its first day of operation. The transferred amount represents roughly 5% of the total funds that were held in the now-retired Orchard pool. The Orchard pool has been phased out and no longer accepts new deposits. The remaining 95% of funds previously held in Orchard remain in a pool that users can no longer add to, raising questions about how quickly the full migration will occur.

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