Author: Coindesk
The model differs from earlier, centralized crypto lenders such as Celsius Network, which filed for bankruptcy in July 2022, and BlockFi, which followed suit four months later, said CEO Ryan Bozarth. In those cases, the companies stood at the center of the process: receiving deposits, lending them out and taking a fee from the interest payment. Read the full article here
Sauter explained that with D8X, the maximum leverage available depends on the state of the market. This approach, he said, prevents destabilization by ensuring that leverage limits are in line with current market dynamics, thereby maintaining stability and preventing any single trader from disproportionately affecting liquidity. Read the full article here
Given that Iris Energy is primarily an infrastructure company, “we think management will be opportunistic in expanding the use case for its data centers beyond bitcoin mining and is well-prepared from a power, cooling, and network perspective,” Canaccord wrote. Read the full article here
“The market is still awaiting a few key catalysts to take effect,” Alice Liu, research lead at CoinMarketCap, said in an email. “The market is in ‘wait and see’ mode ahead of Trump’s speech at the Nashville Conference on July 25th, where it is anticipated that he may announce BTC to be used in the national reserves.” Read the full article here
Arkham data shows Mt. Gox moved 37,400 BTC, worth $2.5 billion, from its main wallet to a new wallet “12Gws9E,” and another $300 million to an existing cold wallet. It then moved another $300 million to wallet “1MzhW,” of which $130 million was sent to crypto exchange Bitstamp. BTC prices remained steady. Read the full article here
Vice President Kamala Harris is now the presumptive Democratic Party nominee for President of the United States, after President Joe Biden abruptly announced he was withdrawing from the race. With her assent to the top of the party ticket comes questions about how a potential Harris Administration might differ from the Biden Administration’s approach to crypto. Read the full article here
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Crypto prices often reacted negatively to news about Mt. Gox-related blockchain transfers recently. Earlier today, bitcoin slipped to near $66,000 after Mt. Gox wallets moved $2.8 billion worth of assets, including $130 million in BTC to Bitstamp, foreshadowing distribution to creditors. Read the full article here
Coinbase Inc. (COIN) is going after internal chatter at the U.S. Securities and Exchange Commission (SEC) that may shed light on its pursuit of cryptocurrency exchanges as illegal enterprises – including Chair Gary Gensler’s own communications – but the scope of its latest request filed on Tuesday has been dialed back after resistance from a federal judge. Read the full article here
Ethena’s open competition is the latest example of tokenized RWAs getting increasingly used in the crypto-native, decentralized finance (DeFi) world. Most recently, DeFi lender MakerDAO announced plans to invest $1 billion of backing assets of the DAI stablecoin in tokenized Treasury products, while ArbitrumDAO, an ecosystem development organization of Ethereum layer-2 Arbitrum, finalized a similar contest to allocate the equivalent of 35 million of ARB tokens in tokenized offerings. Read the full article here