Author: Coindesk

Disclaimer: The analyst who wrote this piece owns shares of Strategy (MSTR).Strategy (MSTR), the U.S. company that’s made buying bitcoin (BTC) a key corporate policy, recently expanded its financial toolkit with the introduction of a second Series A perpetual preferred stock, adding to its growing line of capital market instruments.The company is selling 8.5 million shares of the new offering, called Strife (STRF), at $85 each, giving it a net $711.2 million for bitcoin purchases. That’s up from an initial target of $500 million. The sale ends later Tuesday. Strategy’s earlier preferred issuance, Strike (STRK), initially raised $563 million.A perpetual…

Private computation and storage network Nillion, dubbed the “blind computer,” debuted its mainnet and native token NIL on Monday. However, the token’s market capitalization has dropped 12% in the first 24 hours alongside continued listing by major exchanges, including South Korea’s Bithumb and optimism in the analyst community about the project’s long-term prospects.NIL debuted with a total supply of 1 billion, of which 19.52% or 195.15 million NIL were airdropped to the community on the first day, resulting in an at-inception market capitalization of just over $165 million. Since then, its market value has dropped 12% to $144.93 million, with…

Shaurya MalwaShaurya 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,…

Dogecoin (DOGE) jumped 7% as majors staged a relief rally on Tuesday driven by talks of the upcoming U.S. tariffs, due on April 2, being more measured than initially expected.As per reports, President Donald Trump’s planned “reciprocal tariffs” set for April 2 may be more targeted than previously threatened, with some countries exempt and existing metal levies possibly not stacking.The tariffs unsettled markets in February, shocking stocks and cryptocurrencies alike with bitcoin (BTC) dropping 17.6% to below $80,000 from its January peak.Last week, the Federal Reserve raised inflation forecasts and lowered growth projections, likely due to Trump’s trade stance, but…

Circle plans to launch USDC in Japan on March 26 through a partnership with local heavyweight SBI Holdings, marking a significant milestone for both the global stablecoin market and Japan’s blockchain ecosystem.“Japan has long been at the forefront of the adoption of Web3 and blockchain technology, and Japan’s regulatory leadership has similarly been out in front on clear rules for the use of stablecoins in the Japan financial system,” said Jeremy Allaire, co-founder and CEO of Circle said in a release.The launch comes weeks after Circle and SBI received regulatory approval from the Japan Financial Services Agency (JFSA) earlier in…

The Binance Wallet team said Tuesday in a post on X that it has suspended a staff member accused of using confidential information from their previous roles at BNB Chain to front-run a token launch. The employee allegedly purchased coins via multiple wallets ahead of a Token Generation Event (TGE), later selling part of the holdings for quick profits.”This behavior constitutes front-running based on non-public information obtained from his previous role and is a clear breach of company policy,” a statement from the Wallet team reads. Binance’s investigation found no evidence that the Wallet team employees were involved in insider…

Defunct Japanese crypto exchange Mt. Gox made waves early Tuesday, moving large amounts of bitcoin (BTC) to two wallets, according to on-chain data tracking platform Arkham Intelligence.The address associated with the exchange transferred 893 BTC ($78.11M) to its hot wallet, labelled 1Jbez and 10,608 BTC ($927.48M) to a change wallet identified as 1DcoA during Tuesday’s early Asian trading hours when the cryptocurrency traded above $87,000 in the spot market.The latest action is the exchange’s third significant on-chain movement of funds in four weeks. The exchange moved over $900 million in BTC on March 11 and over $1 billion in BTC…

Less than two weeks after it was taken down by international law enforcement authorities, Garantex — a Russian crypto exchange popular with ransomware gangs and sanctions-evading oligarchs — has allegedly already risen from the ashes, rebranding itself as Grinex.According to a new report from Swiss blockchain analytics firm Global Ledger, a slew of on and off-chain data indicates that Grinex is a direct successor to Garantex. Some liquidity from Garantex, including all of Garantex’s holdings of a ruble-backed stablecoin called A7A5, has already been moved to Grinex-controlled wallets.Global Ledger CEO Lex Fisun told CoinDesk that, in addition to on-chain data connecting Garantex…

China Pacific Insurance (CPIC) Investment Management, a Hong Kong-based subsidiary of one of China’s largest insurance groups, rolled out a tokenized U.S. dollar money market fund as the asset tokenization trend is expanding to Asia.The eStable Money Market Fund (MMF) was launched on the HashKey Chain, a permissioned blockchain for institutional users developed by digital asset group HashKey, and has secured $100 million in subscription on the first day, according to a Monday press release.The product is only accessible for professional and institutional investors and invests in U.S. dollar-denominated short-term fixed income assets and money market instruments. The PAC serves…

Bitcoin (BTC) may have surged above the $100,000 mark last year, but not all bitcoin-centric businesses benefitted from the price action.Bitcoin Depot (BTM), a firm that specializes in selling bitcoin ATMs, has seen a revenue loss from $150 million in the fourth quarter of 2022 to $137 million in the fourth quarter of 2024.The lower transaction volume was primarily due to regulatory changes in the state of California, the firm told CoinDesk. Furthermore, Bitcoin Depot’s cash flow has historically been uncorrelated to bitcoin’s price action, contended Brandon Mintz, the firm’s president and CEO.“Even when we saw that crash in 2022,…