Author: Coindesk

Ether (ETH) led losses among majors with a 5.5% drop over the past 24 hours, per CoinGecko data, to mark its worst one-day slide since early August. Cardano’s ADA fell 5%, Solana’s SOL lost 4%, while BNB Chain’s BNB emerged as the best performer with a 1.1% loss. Read the full article here

Besides, Figure, a fintech company providing lines of credit collateralized by home equity, accounted for most of the market value of the on-chain private credit market. However, excluding Figure, the sub-sector has still experienced growth in terms of active loans, led by Centrifuge, Maple, and Goldfinch. Read the full article here

Kalshi, which won a significant victory in court last week when a federal judge ruled its political prediction markets should be allowed to trade in the U.S., said the CFTC wouldn’t suffer any major harm if its new contracts were allowed to trade during the appeal process, but the company would “suffer substantial – indeed, irreparable – harm” if it’s blocked from letting people bet on the outcome of the 2024 elections. Read the full article here

BTC, ether (ETH), Solana’s SOL, BNB Chain’s BNB and Cardano’s ADA all lost just under 1%, CoinGecko data shows. XRP and memecoin dogecoin (DOGE) were the only major tokens solidly in the green, climbing 5% and 4.5%, respectively. The broad-based CoinDesk 20, a liquid index tracking the largest tokens by market capitalization, rose 0.85%. Read the full article here

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.…

Several of Bankman-Fried’s closest friends and colleagues – including his ex-girlfriend Caroline Ellison, Nishad Singh, Gary Wang, and Ryan Salame – testified against him during his trial, and pleaded guilty to their own counts of fraud. Salame was sentenced to 7.5 years in prison in May. Ellison is set to be sentenced later this month, and has asked for no jail time. Read the full article here

Bitcoin tumbled some 1% to $57,600 earlier during the day after software company MicroStrategy announced the purchase of 18,300 BTC for $1.1 billion. The largest crypto quickly recovered the losses and rose sharply later in the session, up 2.2% over the past 24 hours at $59,700. Read the full article here

While it remains up in the air about whether the Federal Reserve will cut its benchmark lending rate by 25 or 50 basis points next week, it’s a certainty the U.S. central bank will embark on its first easing cycle since 2019. In this, the Fed will be joining other major Western central banks – the European Central Bank, the Bank of England and the Bank of Canada – all of whom have already cut interest rates, some more than once. While Japan hasn’t yet joined in and in fact has made the first initial steps towards tightening, its benchmark…

“Tether plays a significant role in the current and future development of the digital economy and U.S. dollar hegemony,” Spiro, who also ran government affairs at blockchain analytics firm Chainalysis, said in a Friday statement. “The ever-evolving legislative and regulatory landscape will continue to require strong collaboration between the public and private sectors.” Read the full article here

“I think [it] is a close call,” Jon Faust, previously a senior advisor to Fed Chair Jerome Powell, told Timiraos. “You can make a very good case for 50,” said Esther George, president of the Kansas City Federal Reserve for more than a decade until last year. She noted that the Fed moved quickly to tighten policy above the “neutral” rate, so it might make sense for the central bank to move just as quickly to ease. Read the full article here