Author: Coindesk

A sharp sell-off in Coinbase (COIN) stock may be an overreaction to two pieces of bad news that hit on the same day, according to analysts at Barclays and Oppenheimer.Shares of the crypto exchange dropped 7.2% on Thursday after it disclosed a social engineering-driven data breach and later reports revealed a long-running Securities and Exchange Commission (SEC) investigation into whether the company overstated user numbers in its 2021 initial public offering (IPO) filing. The stock’s intraday dip reached nearly 9% before recovering slightly.Read more: Coinbase Could Pay Customers Up to $400M for Data BreachBarclays said the market is likely pricing…

The State of Wisconsin Investment Board (SWIB), one of the first U.S. state pension funds to invest in a spot bitcoin exchange-traded fund, exited its position entirely in the first quarter as the price of the largest cryptocurrency fell about 12%.At end of 2024, the board held more than 6 million shares in BlackRock’s iShares Bitcoin Trust (IBIT), a position valued at around $350 million based on recent prices. That stake is now gone, according to its latest 13F filing. The offload occurred less than a year after Wisconsin made headlines as an early institutional adopter of the newly approved…

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…

TORONTO — David Goyer, the filmmaker whose credits include the Blade trilogy, The Dark Knight, and Apple TV’s Foundation series, said Friday he is building a new blockchain-based science-fiction universe called Emergence.The world of Emergence, according to Goyer, features spaceships, relic-hunting and white holes — science-fiction staples that will serve as the foundation for a sprawling transmedia project built inside Incention, Goyer’s new blockchain platform.In a panel discussion at CoinDesk’s Consensus conference in Toronto, Goyer appeared alongside SY Lee of Story Protocol, the intellectual property-focused blockchain upon which Incention and Emergence are based. There, Goyer laid out his vision for…

Galaxy Digital (GLXY) just debuted on the Nasdaq, but it appears the financial services company’s listing will be jostling for the attention of the crypto sphere’s hive mind.Crypto X — still widely known as Crypto Twitter (CT) despite the platform’s name change — was abuzz with users sharing news of fast food company Steak n’ Shake starting to accept bitcoin payments over the Lightning network, having announced its plans to do so a week ago.A video posted on the social-media platform shows a customer completing an order at a self-service machine, choosing the “Pay With Bitcoin” option and scanning the…

World Liberty Financial, the crypto business tied to President Donald Trump and his family, is pushing back against scrutiny from U.S. Senator Richard Blumenthal, the leading Democrat on a panel responsible for investigating corruption and mismanagement.”WLFI is not operating in the shadows,” according to a letter the company’s lawyers sent to the Connecticut senator. “It is building a next-generation, auditable financial infrastructure rooted in American trust, rule of law and economic leadership.”Blumenthal had targeted his own letter at co-founder Zach Witkoff — set to appear alongside fellow co-founder Zak Folkman and Eric Trump at Consensus 2025 in Toronto on Friday…

Nasdaq-listed DeFi Development Corp. (DFDV) jumped 30% on Friday to fresh record highs after unveiling a partnership with Solana’s top memecoin BONK and purchasing another batch of Solana’s SOL tokens.The company said it will co-manage a Solana validator with BONK, claiming to be the first time a memecoin community and a public company sharing staking infrastructure on Solana, according to a press release. The cooperation also expands to integrate BONK’s own liquid staking token, BONKSOL. Both parties will grow the validator’s stake and split the rewards.”This validator partnership is a natural next step in BONK’s mission to empower our community…

Christy Goldsmith Romero, one of the four commissioners at the Commodity Futures Trading Commission, will depart the federal regulator at the end of the month, she announced Friday.Goldsmith Romero joins fellow Commissioner Summer Mersinger, who announced earlier this week that she would leave on May 30 after being named the next CEO of the Blockchain Association, a Washington, D.C.-based lobbying group for the crypto industry. In a statement, Goldsmith Romero said that derivatives markets, which the agency oversees, “experienced significant growth while remaining resilient and financially stable through times of market stress and volatility” during her time on the Commission.…

Despite recent setbacks, U.S. legislation to regulate stablecoin issuers may be heading toward debate and passage next week, according to the backers of the bill known as the “Guiding and Establishing National Innovation for U.S. Stablecoins” (GENIUS) Act.“Next week, the Senate will make history when we debate and pass the GENIUS Act that establishes the first ever pro-growth regulatory framework for payment stablecoins,” said Senator Hagerty, a Tennessee Republican who sponsored the bill to set U.S. standards for stablecoins, which are typically dollar-based tokens such as Circle’s and Tether’s that are vital to crypto trading activity.The latest draft of the…

TORONTO — Ethereum just completed its most significant upgrade in more than a year, but the milestone comes after a turbulent stretch for the blockchain. The price of ether (ETH) has declined, developers have migrated to rival platforms, and the Ethereum Foundation — a nonprofit steward of the project — has faced criticism for a lack of coordination and vision.Speaking on a panel at CoinDesk’s Consensus conference in Toronto, Paul Brody — global blockchain leader at EY and chairman of the Enterprise Ethereum Alliance — and Josh Stark of the Ethereum Foundation, offered a more optimistic view of the road…