Author: Coindesk

FDUSD, the stablecoin issued by Hong Kong-based First Digital, has wobbled from its $1 price peg as investor concerns mounted over its reserves, though the company said Wednesday that it was “completely solvent.”A História Continua abaixoFDUSD has dropped to 0.87 against Tether’s USDT stablecoin and 0.76 against Circle’s USDC on Binance, the main exchange where FDUSD is listed. The token has stabilized around $0.98 later, still trading below its supposed price anchor.The sudden price action happened as CoinDesk earlier Wednesday reported that some of the TrueUSD stablecoin’s reserve assets were stuck in illiquid investments, according to filings. Tron founder Justin…

Once considered speculative investments, cryptocurrencies are becoming increasingly mainstream. In Europe, WisdomTree is at the forefront of leading that charge. The global financial services firm offers a number of exchange-traded products (ETPs) that offer diversification and an incredibly easy way to buy and sell crypto assets.Here Dovile Silenskyte, WisdomTree’s Director of Digital Assets Research, discusses crypto’s evolution as an asset class, the most recent adoption trends and WisdomTree’s latest ETP based on the CoinDesk 20 index.How do you see crypto becoming more akin to a traditional asset class?As with every asset class, diversification is essential. Investors diversify across and within…

Crypto trading firm Backpack, which bought the European arm of bankrupt exchange FTX, has begun the process for customers to claim their funds.Backpack, which purchased FTX EU for $32.7 million in January, directed customers to complete the first step of know-your-customer (KYC) verification in a post on X on Tuesday. Step two of the process will be the distribution of funds, though it is unclear when this will occur. Backpack describes this as “coming later” on its FAQ page. Backpack’s acquisition of FTX EU was criticized by the bankruptcy estate of the broader entity of FTX.The FTX estate said Backpack…

Bitfarms (BITF) announced an initial agreement for a private debt facility of up to $300 million with Macquarie Equipment Capital, Inc., a division of Macquarie Group’s Commodities and Global Markets. The funding will support Bitfarms’ initial development of its high-performance computing (HPC) data center at Panther Creek, Pennsylvania—expected to reach up to 500 MW of capacity.An initial $50 million tranche has been drawn at the parent level to cover development soft costs and general corporate purposes. The remaining $250 million is contingent upon the achievement of key project milestones, at which point the facility becomes fully secured at the project…

Need evidence of the drastic change in the crypto market sentiment lately? Look no further than Deribit’s options market, where the $80,000 bitcoin (BTC) put option, offering downside protection below the said level, is now the most popular bet.It’s a 180-degree change from early this year when call options at six-figure levels garnered the most interest among traders.As of writing, the number of open positions in the $80,000 put option tallied 10,278 contracts, equating to a notional open interest of $864.26 million, according to data source Amberdata. That makes it the most popular options play on Deribit, where one contract…

Japanese hotel company Metaplanet (3350) has acquired an additional 160 BTC at an average purchase price of 12.5 million yen, approximately ($83,600 per BTC), with a total investment of 1.998 billion yen ($13.4 million).This brings Metaplanet’s total bitcoin holdings to 4,206 BTC, acquired at an average purchase price of 12.9 million yen, approximately ($86,500 per BTC), amounting to a cumulative investment of 54.3 billion yen ($363.5 million).Metaplanet reported a 95.6% BTC yield in Q1 2025, while achieving a 3.9% BTC yield so far in Q2. BTC yield refers to the change in the ratio of total bitcoin holdings to the…

Wednesday could be a pivotal day for financial markets, including cryptocurrencies, as President Donald Trump is expected to announce sweeping reciprocal tariffs to “liberate” the U.S. from the supposed unfair practices of its trading partners.Ahead of the pivotal announcement, signs of downtrend exhaustion have emerged in the ether (ETH) market. Yes, you read that right: after having lagged BTC by a large margin through the two-year bull crypto bull run, ETH may take the lead if the looming tariffs are more measured than expected.Seller fatigue at March lows, potential double bottomEther fell along with bitcoin last week, but the bears…

A potential resolution could be coming soon in the long-running lawsuit between the U.S. Securities and Exchange Commission (SEC) and Gemini over the crypto company’s Earn product.The two submitted a joint request to the U.S. District Court for the Southern District of New York on Tuesday to consider a 60-day pause in the case as they consider a potential resolution.Gemini was sued by the SEC in January 2023, alongside lender Genesis Global Capital, alleging their Gemini Earn product constituted an unregistered securities offering. In March 2024, Genesis finalized a $21 million settlement with its role in the program, resolving its…

Investment manager VanEck has registered to list an exchange-traded fund tracking BNB, the native cryptocurrency of the Binance-linked BNB Chain.The New York-based firm has proposed the establishment of a trust in Delaware for a BNB ETF, a preliminary step to a formal application with the U.S. Securities and Exchange Commission (SEC). VanEck’s BNB ETF, if approved, would be the first such product listed in the U.S.The company was among the first issuers of bitcoin (BTC) and ether (ETH) ETFs in the U.S. following their approval in January and July 2024 respectively. VanEck has also registered to list ETFs tracking the…

The Bitcoin-Japanese yen (BTC/JPY) pair faced a setback at key trendline resistance Wednesday, as Goldman Sachs (GS) cited the anti-risk yen as the leading hedge against rising U.S. tariff and recession risks.The BTC/JPY trading on the Japan-based bitFlyer fell 1% after failing to take out the trendline drawn off the record high reached on Jan. 20, data from charting platform TradingView show.BTC’s USD-denominated price faced similar losses. Meanwhile, Asian equity indices and the U.S. equity futures treaded water ahead of President Donald Trump’s sweeping new “Liberation Day” reciprocal tariffs on Wednesday that could trigger a global trade war.The tariff uncertainty has spurred…