Author: Coindesk
Bitcoin has recovered from the overnight lows under $53,500 to trade 1% higher on the day at $67,300 at press time, and the dollar index (DXY) rally has stalled. The index has pulled back to 104.30 from the overnight high of 104.57, according to data source TradingView. Read the full article here
Data tracked by Glassnode and André Dragosch, director and head of research – Europe at Bitwise, shows the number of so-called whales or network entities owning at least 1,000 BTC jumped to 1,678 early this week, reaching the highest since January 2021. Read the full article here
“Both Presidential candidates have adopted pro-crypto stances to appeal to voters, but it’s tough to say if any of their promises will come to pass,” Jeff Mei, chief operating officer at crypto exchange BTSE, told CoinDesk in a Telegram message. “However, It is clear that the market is responding positively to the upcoming change in administration and policies – whether it’s Harris or Trump, traders and investors think any sort of change will be good.” Read the full article here
During his time in prison Gambaryan, a U.S. citizen, developed malaria, pneumonia and tonsillitis.But he was also suffering from complications tied to a herniated disc in his back which left him in need of a wheelchair – though in a video from his last court appearance, Gambaryan did not have a wheelchair and instead had to struggle on a single crutch, CoinDesk reported earlier. Read the full article here
Bitcoin slid below $67,000, prompting a broad decline across the major cryptocurrencies. BTC dropped under $66,500 during the late European morning, around 1.3% lower in the last 24 hours. The broader digital asset market, as measured by the CoinDesk 20 Index, has fallen just over 1.5%. Bitcoin ETFs snapped a seven-day winning streak on Tuesday, losing nearly $80 million. DOGE led the losses among major tokens, falling 3.8%, while ETH and XRP both lost around 1.5%. DOGE had led gains in the previous seven days following a recent endorsement by Elon Musk. Read the full article here
We have the unique competitive advantage here on a couple fronts. Number one, we have a truly diversified jurisdictional and geographic control of the vault and private key, right? No one can compete with that, and that’s very important, until we have a harmonized global regulation. Without that, this is the foolproof setup. There’s no single point of failure. It’s virtually impossible for three different jurisdictions to collude if they don’t like it. So that’s number one. Number two, we strike the right balance between centralized and decentralized. The centralized element is absolutely necessary if you want to grow an…
“They said, ‘You have five days to move your money,” he said. “They were actually super honest. They’re like, ‘Look, you are a notable person in crypto, and having notable people in crypto, and banking the crypto industry means more scrutiny from federal regulators.” Read the full article here
The cryptocurrency and decentralized finance (DeFi) ecosystems currently lack access to stable, high-quality collateral besides stablecoin. Crypto and DeFi traders typically rely on volatile assets like bitcoin or ether as collateral for loans, staking, and liquidity pools. While effective, this system introduces significant risks, as the value of these assets can fluctuate wildly within short time frames, leading to over collateralization to mitigate risks. The alternative is to post stable coins that only earn a yield to the stablecoin issuers or selected market participants through opaque yield-sharing agreements. Read the full article here
In recent days, a flurry of mainstream media outlets and (often pro-Harris) social media posters have suggested, with varying degrees of certainty, that pro-Trump forces are manipulating Polymarket to make his chances look higher than they are. These claims cite heavy buying by Fredi9999, Theo4, and other Trump whales. Read the full article here
This week’s issue could not be more chock-full of blockchain content. We clarify Tron founder Justin Sun’s role in the WBTC project, bring you excerpts from the new crypto book “Lessons Learned” and highlight inspirational women of Web3 and AI. PLUS a photo from the stage at Cosmoverse. Read the full article here