Author: Coindesk

“Short-term Bitcoin holders are selling at basically zero profit and traders are depleting their unrealized profits in the last few months,” CryptoQuant analysts shared in a Thursday report. “Bitcoin balances at OTC desks stabilizing, which suggests there is less Bitcoin supply coming into the market to sell via these entities.” Read the full article here

The spot market will complement the CME’s existing standard and micro futures contracts, which are widely considered a proxy for institutional activity, and help the exchange become more dominant in the crypto market. The CME is already the top bitcoin futures exchange by open interest, while the offshore, non-regulated Binance dominates the spot market. Coinbase (COIN), the only U.S. traded crypto exchange, is No. 3 by daily trading volume. Read the full article here

The developers said the increased use of the Shibarium blockchain for transactions will result in a higher burn rate for the SHIB token, reducing supply. The SHIB price has risen 8.8% in the past 24 hours, in line with a broader market jump. The CoinDesk 20 Index (CD20), a measure of the wider crypto market, has rallied almost 7%. Read the full article here

The exploiters utilized a “donation” attack to manipulate certain markets offered by the platform, stealing various tokens before being interrupted. The incident occurred on Sonne’s platform on the Optimism blockchain. The Base blockchain version was not affected. (Think of this as a mobile application getting hacked on Apple iOS, but remaining safe on Android.) Read the full article here

Oklahoma’s crypto bill gets ahead of any hypothetical future ban by making the right to self-custody crypto, in either a self-hosted wallet or hardware wallet, fundamental. It also protects the ability to use crypto to purchase legal goods and services, and to do so without an extra tax “based solely on the use of the digital asset as the method of payment.” Read the full article here

The thing to watch, he suggested, is if a lot of Democrats show up to support the bill.McHenry, who is set to retire at the end of the year, has made digital assets legislation a top priority for the end of his time on Capitol Hill. To that end, the House has recorded a number of recent cryptocurrency successes, from the passage of several relevant bills through McHenry’s committee to the advancement of a congressional effort to overturn Securities and Exchange Commission (SEC) crypto accounting policies.But chief among the House’s digital assets endeavors is the Financial Innovation and Technology for…

MEV, which itself is controversial, can be a highly lucrative game dominated by automated bots that often comes at blockchain users’ expense, which is partially why so many in the crypto community have rushed to denounce the DOJ’s complaint. However, this is hardly a Robinhood situation, where two brothers, Anton and James Peraire-Bueno, of Bedford, Massachusetts, were stealing from the rich to give to the poor. Read the full article here

The hedge fund, which is led by billionaire Izzy Englander, held its biggest allocation in BlackRock’s iShares Bitcoin Trust (IBIT), roughly $844 million. It also owned more than $800 million of the Fidelity Wise Origin Bitcoin Fund (FBTC) and $202 million of Grayscale’s Bitcoin Trust (GBTC), as well as stakes in ARK/21’s ARKB and Bitwise’s BITW. Read the full article here

“Investors consider this as a bullish regime shift, as it marks the first decrease in CPI inflation over the last three months,” Bitfinex analysts said in a market update. This, together with the Federal Reserve previously announcing its intention to taper the central bank’s balance sheet run-off, “is seen as a favorable print for risk assets,” Bitfinex added. Read the full article here

“Proof-of-Personhood is a powerful concept but the solutions that exist today haven’t seen adoption because onboarding is invasive and high friction.” founder Terence Kwok said in the post. “We’re creating a decentralized identity protocol that solves verifiable uniqueness and humanity in a way that protects user privacy and self-ownership of data.” Read the full article here