Author: Coindesk

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

Tether, the company behind the $148 billion stablecoin USDT, plans to launch its U.S.-focused stablecoin later this year or early 2026 depending on the nation’s stablecoin legislation, CEO Paolo Ardoino told CNBC in an interview.”Realistically, it depends on the timeline of the final legislation on stablecoins, but we are looking at [launching the product] by the end of this year or early next year at the fastest,” he said.Ardoino said that the firm’s flagship USDT token is catered towards users in emerging markets with limited access to U.S. dollars, and the new offering would be a different product.”In the U.S.,…

Crypto exchange Kraken reported $472 million in revenue for the first quarter of 2025, up 19% from a year earlier despite a softening crypto market. The exchange’s adjusted EBITDA (profit before deductions) reached $187 million, a 17% rise year-over-year.Trading volume on the platform, rose 29% year-over-year, and funded accounts grew by 26%, while assets on the platform dropped 2% to $34.9 billion. Kraken attributed the drop to a decrease in the value of these assets.The headline of the quarter, however, was Kraken’s completed acquisition of NinjaTrader, a retail-focused futures and derivatives trading platform.“This transaction marks the largest-ever deal combining traditional…

Trump’s election campaign focused on crypto, and already in his first 100 days in office, we’ve seen progress in support of the crypto industry. Canada held an election on Monday — can we expect the same focus on crypto in other regions?In today’s Crypto for Advisors, Morva Rohani from the Canadian Web3 Council explains what this political shift means for advisors and why it’s important to align crypto with financial system upgrades.Then, Vincent Kadar from Polymath answers questions about global trends in Ask an Expert.– Sarah MortonCanada’s Election — Crypto Must Align With Financial Modernization Canadians have voted. While digital…

The U.K.’s Financial Conduct Authority (FCA) is seeking views on intermediaries, staking, lending, borrowing, and decentralised finance (DeFi), in a discussion paper released on Friday.The discussion paper follows draft legislation by the Treasury that was announced on Tuesday. Once the legislation passes it will bring specific crypto activities within the FCA’s regulation, the regulator said on its website.”Crypto is a growing industry. Currently largely unregulated, we want to create a crypto regime that gives firms the clarity they need to safely innovate, while delivering appropriate levels of market integrity and consumer protection,” said David Geale, executive director of payments and…

Tokyo-based Metaplanet (3350) has issued 3.6 billion yen (around $24.8 million) in bonds to fund additional purchases of bitcoin (BTC) after the Japanese hotel firm’s holdings surpassed 5,000 BTC.According to a notice from the company, the newly issued bonds were sold entirely to EVO FUND. The bonds carry no interest and will be redeemed at par value on October 31, 2025, unless repaid earlier at the bondholder’s request.The funds are earmarked specifically for BTC acquisition, in line with the plan disclosed earlier this year when Metaplanet detailed a series of stock acquisition rights.The company expects to fund the bond’s redemption…

Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and…