Author: Coindesk

Crypto enthusiasts might have heard of the ERC-20 token standard, which provides guidelines to ensure that tokens created on the Ethereum smart contract blockchain are compatible and can interact with other tokens and applications within the network.A similar standard for data-backed tokens, called VRC-20, has now emerged.Vana, an EVM-compatible Layer 1 blockchain that helps users monetize personal data by bundling it into DataDAOs for AI model training, introduced the new standard early this week to boost trust and transparency in the market for data-backed digital assets.”For data markets to work, tokens must be reliable, secure, and useful. As a universal…

A large bitcoin (BTC) options bet crossed the tape on Deribit as the first quarter drew to a close on Monday, revealing bearish sentiment from the trader behind the move.The so-called block trade carried a premium of more than $1 million for 1,180 contracts of the $70,000 put option expiring April 25, according to data tracked by Amberdata.A put option gives the purchaser the right, but not the obligation, to sell the underlying asset at a predetermined price at a later date. A put buyer is essentially bearish on the market, in this case, anticipating a price drop to below…

Multiple tokens cratered as much as 50% within 30-minutes on crypto exchange Binance on Tuesday, with market watchers wondering if a misconfigured trading bot could have caused the declines.Act I, the Prophecy (ACT) slumped 50%, DeXe (DEXE) dropped 30% and dForce (DF) fell nearly 20% within minutes after 1031 UTC on Tuesday, data from Binance shows, with no immediate catalyst or explanation behind the sudden fall.The drop led to $6.28 million worth of longs being liquidated on ACT-tracked futures across exchanges, Coinglass data shows, with a single trader hit with a $3.2 million liquidation.Around 18:30, multiple altcoins on Binance experienced…

Hut 8’s (HUT) new subsidiary, American Bitcoin Corp., a partnership between the mining company and the Trump family, could be spun out, allowing the company to focus on data center hosting, broker Clear Street said in a report Monday.The broker noted that the new unit will be included in the bitcoin miner’s financials, but the “businesses could be separated, allowing HUT to focus on high-margin data center hosting revenue.” Hut 8 is expected to secure more power and expand its data center hosting business, the report said, and the “potential to secure a hyperscaler” is a key catalyst for the…

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.The CoinDesk 20 is currently trading at 2551.25, up 1.5% (+38.08) since 4 p.m. ET on Monday.Nineteen of the 20 assets are trading higher.Leaders: SUI (+4.6%) and AVAX (+3.4%).Laggards: POL (-0.3%) and APT (+0.7%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally. Read the full article here

So far, crypto markets haven’t behaved as expected under the Trump Administration. Investors hoped that regulatory reform and policies like a Bitcoin Strategic Reserve would drive prices appreciably higher. But it’s been the opposite. Bitcoin has fallen from highs well above $100,000 at the beginning of the year to a trough in the mid-80,000s for most of March.Crypto prices have suffered from being increasingly correlated with traditional assets like stocks and bonds, which have been hit by macroeconomic uncertainty. Tariffs — surcharges the U.S. places on imports from other countries — have Wall Street worried about a global recession. Crypto…

Zodia Custody’s Chief Financial Officer, Jonathan Hugh, has departed the London-based firm earlier this year, the company said. Samuel Howe, the company’s former COO, also recently left the crypto custodian, as reported by CoinDesk.“Jonathan has been a valued member of the Zodia Custody team for the last two years and we remain grateful for his deep expertise, dedication, and guidance during a period of high growth for the company,” a spokesperson for Zodia Custody said in emailed comments.”While such transitions are part and parcel of business, our company is continuing to grow. In 2023 Zodia Custody had 97 employees. Today,…

The world of blockchain and crypto is undergoing a significant acceleration. The regulatory environment globally is converging, and it is converging on an operating model that permits a wider range of products and services. Companies that were sitting on the sidelines are jumping in and those already in are working through how to bring a range of new products to market.In most technology markets, the early winners are determined long before mass-market adoption. As we’re now entering the mass adoption era for blockchain (my opinion), the options facing some companies now are either act quickly or spend the next few…

CoreWeave (CRWV) shares rose more than 38% on their third day of trading debut after raising nearly $1.5 billion from its IPO following OpenAi’s announcement of a record-breaking $40 billion funding round on Monday.The artificial intelligence (AI) startup went public on the Nasdaq exchange on Friday afternoon. The stock dropped below its IPO price to $39 and ended the day flat at $40 before dropping another 10% on Monday, its first full day of trading. CoreWeave’s IPO came at a time of strong anxiety and uncertainty in global markets, diminishing investor appetite and risk tolerance.However, investor sentiment towards AI-related stocks…

Circle, the U.S.-based stablecoin issuer, is going public.The firm filed an S-1 form with the Securities and Exchange Commission (SEC) on Tuesday. If approved, the company’s stock will be trading on the New York Stock Exchange under the symbol “CRCL.”The company said its reserve income from managing its stablecoin-related reserves was $1.7 billion at the end of 2024, representing 99.1% of its total revenue.Circle is behind USDC, the second largest stablecoin by market capitalization, with $60 billion in supply. The firm’s IPO has been one of the most anticipated in crypto.It’s not the only crypto-adjacent company looking to go public.…