Author: Coindesk

“$IBIT traded $3.3b today, biggest number in 6mo, which is a bit odd bc btc was up 4% (typically ETF volume spikes in a downturn/crisis),” Balchunas said on X. “Occasionally tho volume can spike if there a FOMO-ing frenzy (a la $ARKK in 2020). Given the surge in price past few days, my guess is this is latter, which means look for (more) big inflows this week.” Read the full article here

Stacks, co-founded by Muneeb Ali, a Princeton-educated computer scientist who also serves as CEO of the Bitcoin-focused development firm Trust Machines, is seen as one of the oldest and most credible efforts building layer-2 networks atop the Bitcoin blockchain – no small claim given that more than 80 such projects have sprung up over the past couple years. Read the full article here

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one. Read the full article…

Last week, I moderated a panel at the DC Privacy Summit, hosted by Project Glitch and the Coinbase Institute, on what comes next in the ongoing discussions about privacy and crypto – through, naturally, the lens of Tornado Cash and the Department of Justice’s case against developer Roman Storm. I want to share some of the thoughts the panelists – DeFi Education Fund’s Miller Whitehouse-Levine, a16z Crypto’s Michele Korver, House Financial Services Committee’s Allison Behuniak and Starkware’s Katherine Kirkpatrick Bos – discussed during the 30 minute session. Read the full article here

Despite appearances, Binance Wealth is not a financial advisory service but a technological solution designed to meet the needs of wealth managers, with the necessary infrastructure allowing them to oversee and support their clients’ exposure to crypto, explained Catherine Chen, head of Binance VIP & Institutional, in an email. Read the full article here

Crypto exchange Kraken announced last week that it will build a layer-2 network atop Optimism’s OP Stack blockchain framework. CoinDesk is first to report that the deal was reached early this year, involving a grant of 25 million OP tokens, at the time worth roughly $100 million. Read the full article here

Helium network, which launched its mainnet in 2020, is a notable early example of a community-driven wireless network that rewarded its citizen-network-suppliers significantly while reducing costs and increasing accessibility for users (in certain geographies anyway). Its Helium Mobile offering, while still augmented by TMobile, continues gaining traction and was recently cited to have 335,000 subscribers. Many are also familiar with early decentralized storage networks such as Filecoin, Storj, and Arweave, which are becoming more essential to the advancement of AI due to their scalability, cost efficiency, and decentralization. Read the full article here

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one. Read the full article…

“There could be some pronounced effects,” David Shuttleworth, partner at Anagram, told CoinDesk, noting that the amount of tokens being unlocked is multiple times larger than the average daily trading volume between $50 million and $200 million over the past month. “The broader timing, however, is favorable,” he added, with bitcoin (BTC) trading near all-time highs and other majors including ether (ETH) and solana (SOL) also performing well. Read the full article here

Gambaryan, head of financial crime compliance at Binance, was released on humanitarian grounds last week, eight months after he was first taken into Nigerian custody and subsequently charged with money laundering and tax evasion as a proxy for his employer, which the Nigerian government accused of tanking the value of the naira. The Nigerian government has since dropped both charges against Gambaryan, though Binance still faces tax-evasion charges in the country. Read the full article here