Author: Coindesk

Bitcoin (BTC) has been relatively listless this month, hunching below $100,000. However, this hasn’t deterred traders from continuing to bet bullishly on the leading cryptocurrency.This month’s most preferred options play has been buying the $110,000 call expiring on March 28, with buyers paying a cumulative net premium of over $6 million for the bullish exposure, according to the Deribit options flow tracked by Amberdata.A call option gives the buyer the right but not the obligation to purchase the underlying asset at a predetermined price on or before a specific date. A call buyer is implicitly bullish on the market, while…

Lawyers in Argentina are pressing charges against the country’s president, Javier Milei, over this weekend’s ‘rug pull’ of the Libra token, the Associated Press reports.The AP says that the plaintiffs are accusing Milei of committing fraud as they claim when Milei withdrew messages supporting the token it lost its value, and this move ‘rug pulled’ investors.Milei’s office has said publicly that it was unaware of the exact details behind the token, and only posted about it as he does with other projects and startups based in Argentina.“The President shared a post on his personal accounts announcing the launch of KIP…

Argentina’s President Javier Milei is facing impeachment threats after endorsing a cryptocurrency called LIBRA, purportedly intended to support small businesses, which instead crashed and lost billions of dollars in value within hours, according to Reuters.In a now-deleted late Friday post on X, Milei promoted LIBRA as a privately run project designed to raise money for small and medium-sized Argentinian companies, adding that he doesn’t stand to reap personal gain from the project.The token rapidly surged to a market capitalization of about $4.5 billion amid confusion over the legitimacy of Milei’s tweet, with speculation that his account may have been compromised…

Disclaimer: The analyst who wrote this piece owns shares of Strategy (MSTR)Strategy (MSTR) could be on track for potential S&P 500 inclusion by June 20.Currently, the company meets all eligibility requirements except one: achieving positive GAAP net income over the trailing 12 months (the most recent four quarters combined). To qualify, Q1 2025 earnings must be high enough to offset losses from the previous three quarters—a goal that could be achieved thanks to the adoption (now mandatory) of the Financial Accounting Standards Board (FASB) digital asset accounting rule.The FASB rule change requires companies to recognize bitcoin (BTC) holdings at fair…

Wrapped AVAX (WAVAX) has seen a surge in wallet accumulation on the Avalanche blockchain, even as its price dropped more than 4% over the past 24 hours, data from TheTie shows.A total of 3,898 wallets added to their WAVAX holdings today—nearly twice the recent average of 1,600, the data shows. A wrapped token is a token that represents a cryptocurrency from another blockchain or token standard and is worth the same as the original cryptocurrency. The wrapped token can be used on certain non-native blockchains for trading, lending and borrowing on DeFi platforms and later redeemed for the original cryptocurrency.Avalanche…

Cryptocurrencies backed by gold have underperformed over the week as the price of the precious metal saw a significant drop after moving up more than 10% so far this year. The decline came as speculation surrounding Trump’s tariffs being a negotiating tool.Gold-backed tokens, including Paxos gold (PAXG) and Tether gold (XAUT), have declined roughly 1% over the past week to trade around $2,900 while the wider crypto market rallied. The CoinDesk 20 Index rose 5.7% over the same period, and the broader MarketVector Digital Assets 100 Index (MVDA) rose 3.4%.The precious metal saw its price drop amid growing speculation that…

Memecoin generator Pump.fun has launched a mobile app for both iOS and Android devices, making its platform more accessible to users and effectively doubling down on the ongoing memecoin craze.Pump.fun’s new mobile app has features similar to its web interface. It allows users to create their own Solana-based memecoins for free and trade existing tokens while on the go. In an announcement on Friday, the firm detailed that the app includes tools for users to manage their memecoins portfolios and create customized watchlists to monitor tokens.The launch comes just weeks after Pump.fun was hit with a proposed class-action lawsuit accusing…

The cryptocurrency exchange and wallet provider Blockchain.com has taken new steps toward a potential initial public offering (IPO) by appointing two seasoned executives with financial and operational expertise.Blockchain.com hired Justin Evans, who previously worked at Goldman Sachs, as its new chief financial officer, Bloomberg reported. It also appointed Mike Wilcox, previously CFO of Velocity Global and former Point72 portfolio manager, as its chief operating officer.Evans said that the exchange is “taking the steps necessary to be a public company, if and when the public markets are available.”The move comes amid a flurry of other cryptocurrency firms reported to be considering…

This article is part of a four-piece series on El Salvador. You can find the previous dispatch, a story on El Zonte, here.There was formidable energy at this year’s Plan B conference in El Salvador.The event, which took place on Jan. 30-31, was historic for many of its 2,500 attendants. It was the first Bitcoin forum in the Central American nation to have a full dual-language agenda — meaning sessions in both English and Spanish.For Roman Martínez, a Salvadoran co-founder of Bitcoin Beach, Plan B was a dream come true, because it enabled ordinary Salvadorans to make sense of their…

Argentina’s president Javier Milei has backtracked on a tweet promoting a memecoin called Libra, which rose to a $4.4 billion market cap before plunging by more than 95%.In a now-deleted tweet, Milei initially wrote: “This is a private project dedicated to encouraging the growth of the Argentine economy,” along with a Solana contract address linked to the Libra token.Libra rose by more than 2,000% in a 40-minute span following the tweet, only to tumble rapidly as a group of early holders began to cash out. X account KobeissiLetter shared a series of BubbleMaps screenshots showing that alleged “insiders” liquidate tokens…