Author: Coindesk

“Most of the publicly traded bitcoin miners have initiated or announced plans to increase their electricity and hashrate capacities as a means of adjusting to their reduced revenue and gross profit profiles,” Benchmark analyst Mark Palmer wrote, noting that due to uncertainty around the halving nearly all of the listed miners’ stocks are down year-to-date despite a 46% rally in bitcoin in the same period. Read the full article here

“Key liquidity drivers, such as stablecoin growth and US-listed Bitcoin ETF inflows, have slowed down – as we have mentioned for several weeks. ETF flows peaked on March 12, and four consecutive days of net outflows have recently been seen. Demand for US-listed Bitcoin ETFs appears saturated, as even a 10-15% decline in Bitcoin prices has not increased net inflows,” Matrixport said in a market update early Friday. Read the full article here

“We know that there is no traditional justification for U.S. rate cuts in the short term. Employment is strong, retail sales are beating expectations, Q1 GDP is expected to be not much lower than Q4, and inflation is proving stubborn. Even Fed Chair Powell, yes, he who less than four months ago told us that cuts were imminent, is now suggesting that they may hold rates high for longer than previously anticipated,” Noelle Acheson, author of Crypto Is Macro Now newsletter, said in Wednesday’s edition. Read the full article here

Ethena Labs, the firm behind the USDe stablecoin, currently offers an annual yield of 17.2%, a rolling average over the past seven days, to investors that stake USDe or other stablecoins on the platform. The yield is created from a tokenized “cash and carry” trade that involves purchasing an asset whilst simultaneously shorting that asset to rake in funding payments. Read the full article here

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.…

“Tether’s expansion beyond its well-established USDT stablecoin signifies a paradigm shift in its approach to financial empowerment,” the company said in a statement. “By focusing on sustainable solutions adaptive to the needs of individuals, communities, cities and countries, responsible Bitcoin mining, Artificial Intelligence infrastructure and decentralised communication platforms, Tether is actively contributing to a future-proof financial and tech ecosystem.” Read the full article here

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.…

“TradFi has very little interest in moving to DeFi, to be frank, just because they have such an unfair advantage with their current infrastructure,” Frambot said in an interview. “However, fintechs don’t have their own financial infrastructure, they have to go through all the fees of the TradFi guys. But they have distribution, they have adoption. So if they start owning their own infrastructure by building on top of layer-2s and immutable DeFi, then they can start generating more profits from it, gain efficiency and limit their operating costs.” Read the full article here

The first asset Ondo plans to issue natively via Noble is USDY, a tokenized note backed by short-term U.S. Treasuries offering a 5.2% annual yield, targeting the end of the second quarter of this year, a spokesperson told CoinDesk. USDY is currently available on Ethereum, Solana, Mantle and Sui. Read the full article here

The company confidentially filed an amended S-1 form with the U.S. Securities and Exchange Commission at the end of March, after the regulators sent a comment letter to the company, CEO Gene Hoffman said at a conference hosted by law firm Brown Rudnick in Manhattan. However, there is still no firm timeline for the IPO since the company wants to wait for the right market conditions, he later told CoinDesk. Read the full article here