Author: Coindesk

A bitcoin (BTC) breakout earlier this week has traders eyeing the $100,000 level in the coming days, a euphoric trade that could be short-lived as May’s seasonality approaches.“Historically, the next couple of months have been weak for financial markets, with many investors abiding by the Sell in May and Walk Away adage,” Jeff Mei, COO at BTSE, told CoinDesk in a Telegram message.“That being said, markets have significantly underperformed over the last few months, but this year could buck the trend, with Bitcoin hitting $97K and other growth stocks coming back over the last few weeks. This past week’s weak…

In the first look at the employment picture since last month’s Liberation Day tariff announcements sent markets tumbling and supply chain professionals into never-imagined areas of uncertainty, the U.S. jobs market for the time being remained reasonably strong.The U.S. added 177,000 jobs in April, according to the Bureau of Labor Statistics’ Nonfarm Payrolls Report. That topped analyst estimates for 130,000 and March’s 185,000 (revised from an originally reported 228,000).The unemployment rate for April was 4.2% versus 4.2% forecast and March’s 4.2%.In rally mode for the last two weeks since the initial panic over the tariffs, the price of bitcoin (BTC)…

The IRS lost two key directors working on crypto initiatives, Seth Wilks and Raj Mukherjee, on Friday after they accepted deferred resignation offers directed by the Department of Government Efficiency.Wilks and Mukherjee, who both went to the IRS from the crypto industry, are technically still employees with the IRS for the next few months but they are on paid administrative leave as of Friday afternoon, two people familiar with the situation told CoinDesk. President Donald Trump’s administration, through DOGE, offered deferred resignations to a wide array of federal employees earlier this year.Wilks, who was previously a vice president at TaxBit,…

As markets stabilize and bitcoin claws its way back above $100k, Kevin O’Leary – also known as “Mr. Wonderful” – is doubling down on digital assets and calling for clear regulation to unlock crypto’s next chapter. “I consider crypto to be the 12th sector of the economy within five years,” he told CoinDesk in a wide-ranging interview ahead of his keynote at Consensus 2025 in Toronto on May 15.The O’Leary Ventures Chairman outlined his approach to crypto, which is grounded in traditional portfolio construction and a very deliberate plan to prepare for institutional capital he believes is about to flood…

This week, bitcoin climbed steadily to reach nearly $100K, amid hopes for a China-U.S. trade and better macroeconomic conditions ahead.Institutions like Mastercard and BlackRock made important digital asset announcements.An historic stablecoin bill neared completion in the U.S. Congress. (A former prime-mover in the House said to expect a “wicked hot summer” of legislation.)And the Trump Family continued to dominate the crypto news cycle, raising serious conflict-of-interest questions.At CoinDesk, however, the biggest story concerned Movement, a once-hot startup that now seems deeply troubled.Deputy managing editor Sam Kessler published an eye-opening scoop showing that Movement Labs may have been misled into signing…

In February, the Department of Government Efficiency (DOGE) began soliciting public input pertaining to the U.S. Securities and Exchange Commission (SEC) — a move suggesting reform at the agency is imminent.Since then, the SEC, in line with President Trump, has taken a far less adversarial stance towards the cryptocurrency industry, as evidenced by the appointment of crypto-friendly personnel and the abandonment of numerous lawsuits and investigations into crypto companies. But DOGE has the potential to implement further change, and interest in the SEC signals growing pressure towards regulators to reassess their approach to digital assets.In response to the request for…

As the Dubai Token2049 conference concludes, one key takeaway is that the narrative around bitcoin (BTC) is swiftly expanding beyond its traditional role as a store of value to a potential DeFi asset competing with Ethereum and Solana.Prominent industry players like Franklin Templeton view this development as a positive step, confident it will enhance bitcoin’s utility without diluting its core appeal as a store of value as purists or maximalists fear.”I don’t think focusing on Bitcoin DeFi will dilute or complicate Bitcoin’s core narrative,” Kevin Farrelly, managing principal of blockchain venture capital at Franklin Templeton and VP of Digital Assets,…

Huione Group, the Cambodia-based conglomerate that the U.S. Treasury Department wants to cut out of the U.S. financial system, received $98 billion worth of crypto since 2014 through illicit schemes like money laundering, pig butchering and online scams, according to blockchain security firm Elliptic.The company, which has links to the Asian country’s ruling Hun family, runs a Telegram-based marketplace where users can purchase personal data, money laundering services and even electric shackles intended for use on human beings.“Huione Group has come under intense scrutiny this week, with the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) identifying the Cambodia-based conglomerate as…

Wall Street analysts are standing firmly behind Strategy’s (MSTR) aggressive escalation of its bitcoin (BTC) acquisition strategy after the company unveiled plans to double its capital-raising ambitions.”While the number of companies that have sought to replicate Strategy’s bitcoin acquisition strategy has continued to grow rapidly … MSTR yesterday issued a reminder of the extent of its first-mover advantage and how its ability to accelerate its accumulation of bitcoin has continued to increase as its platform has scaled,” wrote Benchmark’s Mark Palmer, reiterating his buy rating and $650 price target.Though MSTR trades at more than double the value of its bitcoin…

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.The CoinDesk 20 is currently trading at 2786.55, down 0.4% (-11.45) since 4 p.m. ET on Thursday.Four of 20 assets are trading higher.Leaders: BCH (+1.8%) and BTC (+0.4%).Laggards: SUI (-5.9%) and AVAX (-2.4%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally. Read the full article here