Author: Coindesk

Ripple, an enterprise-focused blockchain service closely related to the XRP Ledger (XRP), said it will start making its highly-anticipated U.S. dollar stablecoin accessible to users on Tuesday, Dec. 17 following the token’s regulatory approval.RLUSD will be initially listed on several exchanges and crypto platforms including Uphold, MoonPay, Archax and CoinMENA, the company said in a press release, with further listings on Bitso, Bullish, Bitstamp, Mercado Bitcoin and Independent Reserve, Zero Hash and others in the coming weeks.The company also announced two additions to its stablecoin advisory board: Raghuram Rajan, former governor of the Reserve Bank of India, and Kenneth Montgomery,…

I will remember 2024 as the year blockchain broke through. The transformations started early and just kept coming. What’s astounding to me is that at no time during this year did the overall direction or the market change. The only thing that happened was constant acceleration.At the end of 2023, we already knew that 2024 was looking likely to turn out well. The European Union’s Markets in Crypto Assets (MICA) act was going to come into effect. This created a legal framework for crypto-assets, real-world assets and stablecoins in Europe. We were already seeing business turn up across the region…

Every year, bulls and bears use short-term case studies to forecast crypto armageddon or exponential growth. And every year, neither group is right.Some notable events this year: Ethereum’s Dencun Upgrade, the U.S. election, crypto ETFs, Wyoming’s DUNA, the wBTC controversy, Robinhood’s Well’s notice, Hyperliquid’s near $2 billion airdrop, Bitcoin hitting $100,000, and SEC Chair Gary Gensler’s January resignation announcement.2024 was a year with no major market shocks. And, though it didn’t bring in an explosion of new capital, it proved that a growing number of companies in the crypto ecosystem are sustainable. Bitcoin is worth $1.9 trillion and all other…

Red-hot decentralized finance (DeFi) project Ethena said Monday it is rolling out its new stablecoin that aims to help stabilize the protocol’s flagship USDe token when crypto markets turn bearish.The USDtb token aims to keep a steady $1 price and holds 90% of its reserves in BUIDL, the tokenized money market fund issued by asset management behemoth BlackRock and tokenization firm Securitize.”In light of the rapidly accelerating demand for different stablecoin options, we saw a clear opportunity to provide a new product that offers users an entirely different risk profile from USDe without them having to leave our trusted ecosystem,”…

The U.K. intends to prohibit public offers of crypto, the Financial Conduct Authority said in its paper on the incoming crypto regime on Monday.Legislation will be put in place to prohibit public offers of crypto, building on the U.K.’s promotion rules that prevent unregistered crypto firms from reaching out to U.K. clients. Only crypto asset trading platforms and offers qualifying for exemptions may not be subject to this. CoinDesk reached out to the Treasury for input on whether or not this only applies to regulated companies as the FCA could not comment on this.The paper asks for industry input on…

By Omkar Godbole (All times ET unless indicated otherwise)Imagine you have a rare collectible. It’s aged like fine wine, but only shows the original price tag. That’s how U.S. companies have been told to value their bitcoin … stuck in the past instead of reflecting its true worth. As of today, that changes.Yes, today is when the FASB fair value accounting rule, which passed in 2023, takes effect, allowing companies to report their bitcoin holdings at fair market value instead of the purchase price. The change gives firms more control over how they classify these assets and may accelerate corporate…

Surging volumes in put options linked to BlackRock’s Nasdaq-listed spot bitcoin ETF (IBIT) could be interpreted as bearish sentiment. That’s not necessarily the case.On Friday, more than 13,000 contracts of the $30 out-of-the-money (OTM) put option expiring May 16 changed hands as the ETF rose 1.7% to $57.91, according to data from Amberdata. Volume in the $35 put option expiring Jan. 16, 2026, topped 10,000 contracts.Most of the activity probably stems from market participants looking to generate passive income through “cash-secured put selling” rather than outright purchase of the options as bearish bets, according to Greg Magadini, Amberdata’s director of…

Bitcoin (BTC) set a fresh record above $106,000 earlier Monday, with traders now targeting the $120,000 level as the asset moves into the second half of a seasonally bullish December.Recent catalysts that have supported growth in BTC include increased speculation of U.S. president-elect Donald Trump creating a federal bitcoin reserve, and crypto companies such as Riot Platforms and MicroStrategy purchasing billions worth of the asset in past weeks.Optimism in U.S. policies are driving bitcoin ETFs inflows higher, contributing to increased prices, some point out.“TradFi inflows now dominate all sentiment and price action in BTC unlike any other prior crypto cycle…

Bitcoin (BTC) surged to over $106,000 in early Asian hours, setting new all-time highs before quickly retreating to $104,500 amid concerns about the upcoming U.S. Federal Reserve (Fed) rate cut.The U.S. central bank is expected to reduce the benchmark borrowing cost by 25 basis points to the 4.25% to 4.5% range, marking a total easing of 100 basis points since September. However, there are concerns that the accompanying Fed commentary will seek to temper expectations for further easing, potentially diminishing the bullish impact of the rate cut.The Fed will announce its rate decision, the dot plot, comprising interest rate projections,…

MicroStrategy (MSTR) is set to soon be included in of the world’s largest exchange-traded funds after becoming the first bitcoin-centric company to win entry into the Nasdaq-100 Index.The Nasdaq-100 Index tracks the 100 largest non-financial companies listed on the Nasdaq exchange and is filled with dominant market names like Apple, Nvidia, Microsoft, Amazon, Meta, Tesla and Costco.On Nov. 29, the day when the Nasdaq took a market snapshot in preparation for the index’s annual rebalancing, MicroStrategy had a market cap of roughly $92 billion. That would rank the Michael Saylor-led company as the 40th largest in the Nasdaq 100 and…