Markets Outlook

With BTC steady and central bank digital currencies getting close, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Nexo.io and Elliptic.co. Today's stories: Analysts Can't Agree on What Prompted Big Spike in New Bitcoin Addresses New bitcoin addresses have spiked this month, with one industry exec pointing to traders moving funds off the legally troubled BitMEX exchange. Others disagree. China Central Bank Official Reveals Results of First Digital Yuan Pilots An official for China’s central bank unveiled usage statistics of state-backed digital currency trials held in three Chinese cities. Inside the Estonian CBDC Experiment That Could Shape the Digital Euro How the firm helping lead Estonia's central bank digital currency research is approaching a mass-market crypto coin. Oman Central Bank Warns on Crypto 'Risk,' Singles Out Dagcoin The central bank warned citizens and residents they use cryptocurrencies at their own risk.

As traders remain hopeful and mainstream investment funds increase their exposure to bitcoin miners, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Nexo.io and Elliptic.co. Today's stories: Bitcoin's Options Market Retains Long-Term Bull Bias Despite Sluggish Price Options market data suggests the longer-term path of least resistance for bitcoin is to the higher side. Fidelity, Vanguard, Schwab Funds Have Been Loading Up on Crypto Mining Stocks Stock of three major cryptocurrency mining firms are appearing in Fidelity, Vanguard and Charles Schwab mutual funds. John McAfee Arrested in Spain on US Criminal Charges John McAfee allegedly received $11.6 million in bitcoin and ether for pumping ICOs in 2017 and 2018. Guggenheim-Collected Artist to Release Digital Artwork on Blockchain Marketplace A prominent Taiwanese-American multimedia artist considered a pioneer of internet-based art is releasing her work on blockchain-based platform MakersPlace.

With interest in bitcoin futures falling to their lowest level since May, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Nexo.io and Elliptic.co. Today's stories: Open Interest in CME Bitcoin Futures Slides as Market Sapped by Surging DeFi Institutional interest in bitcoin futures has plummeted as the DeFi explosion made carry trades less attractive, said Bequant's Denis Vinokourov. Bitcoin Miners Saw 11% Revenue Drop in September Miners generated an estimated $328 million in September. SEC Is Willing to 'Try' a Tokenized ETF, Chairman Says: Report SEC Chairman Jay Clayton expressed an openness to a tokenized exchange-traded fund. Pro-Crypto PAC Giving $50 in Bitcoin to the Campaign of Each Member of Congress In a bid to raise awareness, the Chamber of Digital Commerce’s PAC is contributing $50 in bitcoin to the campaign of incumbent members of Congress.

With Trump testing positive and a systemically important exchange in deep trouble, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Nexo.io and Elliptic.co. Today's stories: Bitcoin, Stocks Fall as Trump Tests Positive for COVID-19 The cryptocurrency and Asian stock markets dumped early Friday after U.S. President Donald Trump announced he and his wife had tested positive to COVID-19. Ethereum 2.0 'Dress Rehearsal' Gets a Do-Over With Zinken Developers will take a second whack at a final Ethereum 2.0 testnet after the first, Spadina, failed due to “critical peering issues.” BitMEX 'Attempted to Evade' US Regulations, CFTC Charges The CFTC has charged BitMEX, CEO Arthur Hayes and other affiliated entities with offering US customers crypto trading services in violation of federal law. Should DEXs Be Worried After BitMEX? DeFi Founders Weigh In The sudden takedown of crypto exchange BitMEX has cast a new light on Ethereum’s decentralized finance (DeFi) markets.

With BTC looking for a breakout and more casualties in the aftermath of 2017s ICO boom, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Nexo.io and Elliptic.co. Today's stories: Bitcoin Posts Biggest Monthly Price Loss Since March Bitcoin faced selling pressure in September as the U.S. dollar rose against major currencies for the first time in six months. Diginex Stock Goes Live on Nasdaq Following $50M in SPAC and Private Funding Diginex has become the first crypto exchange operator to be traded on Nasdaq, listing under the “EQOS” ticker symbol. Judge Rules Kik's Token Sale Violated US Securities Law A federal judge has ruled that Kik's 2017, $100 million token sale violated U.S. securities law, and wants to see a proposal for refunds. SEC Orders Salt Lending to Offer Refunds to Investors in Its $47M ICO The SEC has confirmed it is taking action against SALT Lending after ruling the company's $47 million ICO was an illegal securities issuance.

With bitcoin trading in an unusually tight range and DeFi darling SushiSwap suffering shrinkage, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: First Mover: Chainlink's Sorry September Returns Shows DeFi Hysteria Deflating Chainlink's LINK has been the worst-performing digital asset in September in the CoinDesk 20, during an ugly month across cryptocurrency markets. DeFi 'Vampire' SushiSwap Still Hemorrhaging Liquidity Uniswap challenger SushiSwap is continue to lose vital liquidity, with total value locked falling by 8% in the past 24 hours. French Authorities Arrest 29 Suspected of Using Crypto to Fund Extremists in Syria Hundreds of thousands of euros may have been supplied through a secret network benefiting al-Qaida-linked extremists in northwestern Syria. Ocean Protocol Hard Fork Freezes Funds From KuCoin Hack On Sunday, Ocean Protocol conducted a hard fork from its old token address to prevent the KuCoin exchange hacker from continued unloading of stolen OCEAN tokens on decentralized exchange Uniswap.

With bitcoin back in the drivers seat and the Filecoin launch fast approaching, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Traders Rotate to Bitcoin Expecting a Quiet Q4 for Altcoins Some traders anticipate the leading cryptocurrency to significantly outperforming the entire crypto market for at least the next several months. Spadina Gives Ethereum 2.0 Developers a Three-Day Testnet Ethereum testnet Spadina gives developers one more crack at practicing with Eth 2.0’s deposit contract before the real deal arrives. California Governor Signs Law Bringing State 'New Tools' to Regulate Crypto The now-renamed California department responsible for the regulation of financial services will soon have more powers to supervise the cryptocurrency industry. Filecoin Confirms Long-Awaited Mainnet Launch for Next Month Three years after its $257 million ICO, decentralized data storage provider Filecoin has said mainnet will go live in mid-October.

With bitcoin's record-breaking run above $10,000 and Twitter talking blockchain strategy, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Bitcoin Has Been Less Volatile Than Tesla Stock for Months Bitcoin is often criticized for being over volatile, but it's been a sea of calm compared with Tesla stock in recent months. Bitcoin Sets Record 63 Straight Days Closing Above $10,000 Bitcoin has closed above $10,000 since July 27. $2B Locked: Uniswap Now Bigger Than Entire DeFi Industry Just Two Months Ago After passing $2 billion in locked assets, there's now more value in Uniswap than there was in the entire DeFi space on July 9. Jack Dorsey Details Twitter's Blockchain Strategy at Oslo Freedom Forum Jack Dorsey said the nonprofit Blue Sky will use blockchain to create an open Twitter protocol and give people more control over their data.

With bitcoin's best day in two months and a surprisingly positive report out of Chinese state media, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: China State Media Make Rare Reports Calling Crypto 2020's Best Performing Asset Several Chinese state-owned media have made unusual coordinated reports describing cryptocurrencies as the year's top performing investment. Bill Proposes National Crypto Regulatory Framework The Digital Commodity Exchange Act would bring crypto exchanges into a single federal framework, overseen by the Commodity Futures Trading Commission. Israeli Draft Bill Would Nix Hefty Capital Gains Taxes on Bitcoin The draft bill would define bitcoin and other cryptos as "currency" instead of an "asset" for tax purposes.

With bitcoin markets looking weak alongside a strengthening dollar, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Strengthening US Dollar Could Bring Further Downside for Bitcoin With the U.S. dollar eyeing a pre-election recovery, the path of least resistance for bitcoin may be to the downside. MakerDAO Users Hosed by March Flash Crash Won't Get MKR Payouts, Say MKR Whales After initially voting to do so, the Maker community will not compensate investors who lost big on the lending platform during "Black Thursday's" price rout.

With the bitcoin market weakening and an ECB update, CoinDesk’s Markets Daily is back for your latest crypto news roundup! Today's stories: Bitcoin Market Weakening After Macro-Based Sell-Off, On-Chain Data Suggests Bitcoin inventory is building on exchanges but there's a lack of buyers, according to a Chainalysis economist. 'Misleading' Term Stablecoin Should Be Ditched, Says ECB The EU central bank said the term stablecoin is potentially "confusing" and "misleading" to consumers. Tokenized Bitcoin on Ethereum Now Tops $1.1 B: Here's Why The supply of BitGo’s wrapped bitcoins (WBTC) topped 76,000 after setting an all-time record of nearly 21,000 WBTC minted within one week. Here’s why. Christie's to Auction Bitcoin-Inspired Artwork, Associated Non-Fungible Token The artwork titled, ‘Portraits of a Mind’ created by the Robert Alice project is a set of 40 paintings made up of a transcription of the code associated with the Bitcoin blockchain.

With bitcoin at risk of falling to four figures and new guidance from the OCC, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Equity Markets Turmoil Could Push Bitcoin Below $10K, Say Analysts Bitcoin risks falling into four figures on a continued sell-off in equities and rebounding U.S. dollar. Digital Euro Would Provide Alternative to Cryptos, ECB President Lagarde Says A digital euro for retail payments would "ensure that sovereign money remains at the core of European payment systems," according to Legarde. SEC, OCC Issue First Regulatory Clarifications for Stablecoins The U.S. OCC has published fresh guidance, officially clarifying national banks can provide services to stablecoin issuers in the U.S. Craig Wright Must Face Trial Over Alleged $11B Bitcoin Fortune as Request for Summary Judgment Denied In a case involving the ownership of about 1.1 million bitcoin (worth over $11 billion), the federal court denied Wright’s request for a summary judgment on Monday.

With bitcoin down amid broader market turmoil, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Bitcoin Down as Stocks Fall Over European Coronavirus Fears Bitcoin is dropping alongside stocks as soaring cases of COVID-19 threaten economic activity in Europe. China Sees Advantages in Being First on New Digital Currency 'Battlefield' The nation would wield stronger influence in the world as a result of the digital yuan issuance, according to a magazine from the People’s Bank of China (PBoC) Kraken Shows How Crypto Companies and Banks Are Evolving Together Kraken’s move to become a bank in Wyoming is more about getting traditional finance to adapt to the crypto industry than the other way around.

As bitcoin battles to establish a foothold above $11K and with DeFi surging on Ethereum, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Bitcoin Rises Back to $11K Despite Signs of Indecision in the Market Bitcoin is again looking to establish a foothold above $11,000 on Friday, although the technical charts are anything but stridently bullish. Bitcoin Supply on Ethereum Tops $1B More than 92,000 bitcoins have been tokenized on Ethereum. Uniswap Launches Governance Token to Keep Up With Rival Decentralized trading platform Uniswap has launched a governance token, UNI, minting 1 billion coins to be released to the public over the next four years. Uniswap Recaptures DeFi Buzz With UNI Token's Airdropped Debut A minimum of 400 UNI was airdropped to everyone who used Uniswap prior to September. Some called it “stimulus for Ethereum users.” Ethereum Smashes Records as DeFi Hype Sends Transactions and Miner Revenue Soaring Miners may be the real winners from DeFi as a surge in Ethereum activity sees them earn a record $16 million in a day.

With bitcoin slipping alongside European stocks and a leaked memo about China's blockchain plans, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Federal Reserve Now Targets Inflation Above 2%, Bitcoin Breaks $11K Federal Reserve officials said Wednesday they would hold U.S. interest rates at close to zero and work to push inflation above 2% "for some time." Bitcoin 'Young Investment' Wallets at Highest Level Since February 2018 New investors are entering the bitcoin market at a faster pace and possibly creating upward pressure on prices, on-chain data shows. China's BSN Will 'Localize' Public Blockchains for Local Use China’s state-sanctioned Blockchain-Based Service Network is finally bringing public chains to its homeland -- but they will look very different. Kraken Becomes First Crypto Exchange to Charter a US Bank On Wednesday, the Wyoming Banking Board voted to approve Kraken’s bank charter application. Kraken is the first SPDI bank in Wyoming.

With bitcoin fighting for $11k and the first CBDC in real life, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: All Eyes on Fed Reserve Rate Announcement, as Bitcoin Fights for $11K With the Fed's decision on rates due later Wednesday, bitcoin traders will be watching the U.S. dollar action. Bahamas to Roll Out 'Sand Dollar' Digital Currency Next Month The Bahamas' "Sand Dollar" will likely be the world's first live central bank digital currency when it launches in October. Bitcoin CEO: MicroStrategy's Michael Saylor Explains His $425M Bet on BTC How the business analytics chief became Wall Street's boldest bitcoin maximalist. US State Bank Regulators Agree to Single Set of Rules for Fintech, Crypto Firm Licensing Agencies from 48 states are expected to unveil a new framework today that will simplify and consolidate regulation for crypto companies.

With BTC crossing into bullish territory and a new smart contract-powered tokenized DeFi Index, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Analyst 'Cautiously Bullish' on Bitcoin but Says Equity Sell-Off Still a Threat Bitcoin (BTC) has crossed into the bullish territory, but may remain vulnerable to another sell-off in stocks. New Index From DeFi Pulse and Set Protocol Offers Easy Access to 10 DeFi Tokens in 1 Data company DeFi Pulse and investment-minded Set Protocol have created a permissionless index of the very best DeFi tokens, called the DeFiPulse Index. MicroStrategy Tells SEC It 'May Increase' $250M Bitcoin Reserves MicroStrategy told the SEC it "may increase" its bitcoin (BTC) holdings beyond the $250 million haul purchased in August. DeFi Lender bZx Reclaims $8M Stolen in Sunday's Attack DeFi lending project bZx has been able to recover about $8 million in cryptocurrency from an attacker who stole the funds after exploiting a code bug over the weekend. MicroStrategy Buys $175M More in Bitcoin, Upping BTC Holdings to $425M Michael Saylor, the founder of MicroStrategy, said Tuesday his company has acquired an additional $175 million in bitcoin (BTC) in a single purchase.

With bitcoin breaking above its recent $500 trading range, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today’s stories: Against the Odds, Some Bitcoin Traders Are Betting on a $36K Price by Year’s End The Deribit exchange has seen a spike in investors buying the $36,000 December call option despite the market placing low odds on a new record high this year. DeFi Lender bZx Loses $8M in Third Attack This Year An attacker found a way to mint unbacked iTokens that they could then redeem against other cryptos held in lending pools for DeFi lender bZx. Iran May Fund Car Imports with Cryptocurrency Mining An Iranian free trade zone is proposing locally mined cryptocurrency might be a way to fund car imports. SEC Charges Rapper TI With Securites Violations for ICO The SEC alleged film producer Ryan Felton misappropriated funds from two separate initial coin offerings, and charged rapper TI with boosting one of them.

With bitcoin trading in a narrow range and new comments from central bankers in Europe and Japan, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today’s stories: Bitcoin Holds Firm Above $10K but Strong Bounce Proves Elusive Bitcoin is trapped in the narrow range of $10,000 to $10,500, but on-chain metrics hint at a rally revival ahead. Uniswap September Volume Tops August’s $6.7B Record in 10 Days on Dizzying DeFi Demand September is the fifth consecutive monthly all-time high for Uniswap volume. Square Forms Group to Stop Patent Hoarding From Stifling Crypto Innovation Square said the Cryptocurrency Open Patent Alliance (COPA) will allow companies to access and share tech innovations with one another. Europe Has Fallen Behind on Digital Payments, Lagarde Says In new comments, European Central Bank President Christine Lagarde said a digital euro can place the region at the cutting edge of innovation but it may have fallen behind in the global competition for creating digital payment ecosystems. Japan Should Consider a Digital Yen, Former Official Says In an interview with CoinDesk Japan, a former Bank of Japan official had new comments on the country’s many reasons to seriously consider a digital yen.

With bitcoin lawsuits in the news and SushiSwap’s migration completed, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today’s stories: Ether Traders May Be Hedging Against DeFi Slowdown: Analyst Some are calling the white-hot Defi space a bubble that is unsustainable. Judge Dismisses $200M Damages Claim in AT&T Crypto Hack Lawsuit AT&T has won a motion to dismiss a $200 million punitive damages claim from Mike Terpin, who lost $24 million in crypto via SIM hack. Court Denies Bitmain $30M in Damages From Co-Founders of Rival Poolin A court in China has denied an appeal by bitcoin mining giant Bitmain seeking $30 million in damages from the three co-founders of mining pool rival Poolin. SushiSwap Migration Ushers in Era of ‘Protocol Politicians’ SushiSwap, the community-owned automated market maker, now has a new set of leaders – offering a preview of the future of crypto politics.

With bitcoin hovering just above $10k and a tokenized form of Ethereum transaction fees in the crosshairs, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Bitcoin's Correlation With Gold Hits Record High Bitcoin is now more closely tied to safe haven gold than ever. BitFlyer's Newest Customers Are In Their 20s More than 30% of new customers at bitFlyer, a major Japanese crypto exchange, are in their 20s, the exchange said. DeFi Meets Universal Basic Income With Just-Launched Project From eToro eToro's GoodDollar initiative will provide a universal basic income for some of the world's poorest by incentivizing people to yield farm on its platform. Ethereum Developers Weigh Gas Rule Change to Ease Fee Pressure As Ethereum fees soar, a proposal to nix “gas tokens,” which let users prepay fees when they’re cheap and spend them later, is getting renewed attention.

With investors buying the bitcoin dip and staying bullish on options, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Investors Buying Bitcoin Amid Price Slump to Near $10K, Data Shows Despite bitcoin shedding over $2,000 in the last few weeks, the "buy the dip" mentality in the market still appears strong. Bitcoin Options Suggest Investors Hedging but Still Long-Term Bullish Bitcoin's options market retains long-term bullish bias despite the recent price pullback, data shows. What Happened to DeFi Project SushiSwap Over the Weekend SushiSwap experienced a tumultuous weekend after its founder sold $13 million' worth of his stake in the project before turning the reigns over to investor and FTX CEO Sam Bankman-Fried.

As the price of bitcoin reels from its biggest drop since Black Thursday, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: V-Shaped Recovery From Bitcoin's Biggest Drop Since March Unlikely, Say Analysts Despite a slight bounce Friday morning, some analysts don't expect bitcoin to chart a quick recovery from the double-digit price drop over the last two days. 3 Reasons Bitcoin Just Tanked Below $11K for First Time in a Month Cryptocurrency analysts attributed the drop to a combination of risk-off sentiment in traditional markets, DeFi exhaustion and miner selling. Blockchain Bites: Bitcoin's Steep Sell-Off, Pornhub's Crypto Payments, Twitter's Latest Hack Pornhub will accept BTC and LTC payments, a nonprofit wants Coinbase to be more transparent and credit default swaps are coming to the Ethereum blockchain. Bank of England Governor Wants Global Regulations as Stablecoins Pick Up Steam Bank of England Governor Andrew Bailey wants coordinated global regulation around stablecoins as the payment method picks up steam.

With the price of bitcoin pulling back sharply and U.S. legislators again advocating for blockchain, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Bitcoin Risks Deeper Price Pullback as Exchange Inflows Spike Wednesday saw a flurry of deposits onto exchanges, indicating some investors are trying to offload their bitcoin. That could further propel prices downwards. Robinhood May Face $10M SEC Fine Over Disclosure Failures Robinhood is reportedly under investigation by the SEC for not fully disclosing that it was passing customer orders onto market makers. Lawmakers Ask Trump to Use Blockchain in COVID Relief Lawmakers are urging President Trump to consider blockchain solutions in the fight against COVID-19. Swiss Canton Zug to Accept Taxes in Bitcoin, Ether From Next Year Citizens and companies in Zug will be able to pay up to $109,000 of their tax bill in either bitcoin or ether from February next year.

With bitcoin dropping overnight as DeFi booms, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Bitcoin Price Drops 4% After Latest Rejection at $12K Resistance Bitcoin fell by $400 Wednesday morning, having failed once more to move above a long-held resistance level. Bitcoin Miners Saw 23% Revenue Increase in August Miners generated an estimated $368 million in August. DeFi Flippening Comes to Exchanges as Uniswap Topples Coinbase in Trading Volume Trading volumes are surging on Uniswap and other so-called decentralized cryptocurrency exchanges, challenging established venues like Coinbase. Police Reportedly Raid Headquarters of Bithumb, South Korea's Largest Exchange Crypto exchange Bithumb has reportedly been seized by police in Seoul on allegations that its chairman engaged in investment fraud.

With ether reaching a two-year high and a breakdown on weird DeFi, CoinDesk’s Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Ether Price Hits 2-Year High The two-year high was reached alongside a drop in the number of coins held in exchange addresses. US Regulator to Shake Up Banking With Federal Charters for Payment Firms Acting Comptroller of Currency (and former Coinbase exec) Brian Brooks is spearheading the move to let payment firms operate as banks across state lines. Yearn, YAM and the Rise of Crypto's 'Weird DeFi' Moment What do these various memecoins do? Here's the rough TL;DR of the latest tokens to top the DeFi charts.

With bitcoin still lagging behind U.S stocks and additional tax guidance in the U.S., CoinDesk's Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: US Stocks Closing on Bigger August Gain Than Bitcoin While bitcoin is eyeing an August gain for the first time in three years, the cryptocurrency is still lagging U.S. stocks over the month. Chinese Bank Disables Digital Yuan Wallet After Soft Launch Draws Wide Attention China Construction Bank had quietly opened up the wallet service of China's digital yuan to public users – but has now disabled it shortly after the feature gained wide attention. What Changes at the Fed and the SEC Mean for Crypto Chairman Powell’s speech on Thursday highlighted how much the Fed’s role is changing, and that's an opportunity for the crypto industry. Cryptocurrency Earned From Carrying Out Microtasks Is Taxable, Says IRS Memo The U.S. tax department has provided guidance around crypto revenue earned from microtasks via crowdsourcing platforms and, yes, such income is taxable.

With bitcoin and gold reversing losses, CoinDesk's Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's Stories: Bitcoin, Gold Recover After Jerome Powell Speech Shakes Markets Bitcoin and gold are reversing losses seen on Thursday after the Federal Reserve's announcement of a more relaxed approach to tackling inflation. Binance's Bitcoin 'Bid-Ask Spreads' Tighten as Cryptocurrency Markets Mature The narrowing gap between bitcoin buy and sell orders on big exchanges like Binance shows an increasing depth to cryptocurrency markets. Chainalysis Report Shows Healthy Crypto Usage in Venezuela The Venezuelan government's push to create a cryptocurrency-centric economy appears to be working, but perhaps not in the way officials had hoped. Bitmain, Ebang Among 21 Bitcoin Mining Farms Stripped of Energy Perks in Inner Mongolia Affected mining centers in the area may see a notable increase in electricity costs.

With bitcoin slightly bearish and cyber bandits pillaging New Zealand’s NZX exchange, CoinDesk's Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Bitcoin's Implied Volatility Falls Sharply Ahead of Jerome Powell Speech Bitcoin’s options market foresees little price turbulence in the short-term, even as markets await a key speech from the chairman of the Federal Reserve. NYSE Can Allow Firms to Raise Funding Through Direct Listings, Says SEC The New York Stock Exchange may now allow some companies to raise capital via direct listings rather than IPOs. New Zealand Stock Exchange Hit Repeatedly by Cybercriminals Demanding Bitcoin NZX has halted trading for the third day in a row as a result of cybercriminals attempting to extort cryptocurrency. Commentary: Fed Chair Jerome Powell Details Inflation Target Changes The Fed confirmed if inflation consistently falls below its 2% target - as it has for most of the last decade - it will target inflation above 2%. Here's our live commentary.

With bitcoin’s silver lining and Ribbit’s $350 million “Blank Check,” CoinDesk's Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Bitcoin Drop Squeezes Out Weak Derivatives Positions – And That May Be a Good Thing Bitcoin’s latest price drop may have a silver lining. Crypto and Fintech VC Ribbit Capital Seeks $350M in 'Blank Check' IPO While it's unclear how much Ribbit Leap will focus on crypto or blockchain acquisitions, it comes at a time of renewed exuberance in the sector. FTX Exchange's $150M Deal for Mobile-First Blockfolio Is a Retail Trading Play The deal is a strategic play for FTX, whose clientele consists largely of quants and professional traders, to attract more retail customers. Brazilian Lawmaker Proposes Crypto Regulations for a Country Devoid of Any Brazil's crypto scene has been unbanked, unregulated and awash in legal uncertain for its entire history.

With bitcoin still under $12K and Aave pulling ahead of MakerDAO, CoinDesk's Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Powell's Coming Inflation Speech May Weigh Over Dollar and Boost Bitcoin: Analysts The Federal Reserve chief is expected to bolster expectations of inflation in a keynote Thursday. That may be bad for the dollar but good for bitcoin. Aave Becomes Second DeFi Project to Unseat MakerDAO for Most TVL DeFi credit market Aave has pulled ahead of stablecoin mint MakerDAO for the title of most collateral staked on Ethereum, according to DeFiPulse. Huawei Builds Blockchain Platform to Help Beijing Government Manage People's Data Huawei’s cloud services arm is helping the Beijing government set up a blockchain platform that would better track and manage people’s data. Bank for International Settlements: https://www.bis.org/publ/work880.htm?utm_source=newsletters&utm_medium=firstmover&utm_campaign=&clid=00Q1I00000N4DdAUAV A recent paper by the Bank for International Settlements looks at the economic reasoning behind central bank digital currencies and how they may be shaped for future implementation via mainstream adoption.

With Turkey getting bullish on bitcoin and BitMex blocking users in part of Canada, CoinDesk's Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Leveraged Funds Take Record Bearish Positions in Bitcoin Futures The funds likely boosted short positions to take advantage of attractive "cash and carry" yields. First Mover: Anything-Goes Token Market Repudiates Rich-Only Venture Capital Club Venture capital is no longer just for the rich, as crypto markets let traders bet on early-stage digital-asset startups, risks included. Istanbul or 'Coinstantinople'? Inside Turkey's Bitcoin Bull Market The relationship between economic crisis and crypto exchange activity in Turkey appears to have changed, with bitcoin coming out on the winning end. Crypto Derivatives Exchange BitMEX to Block Ontario Traders The veteran cryptocurrency derivatives exchange is to block users in Ontario, apparently at the behest of the local securities regulator.

With bitcoin still pulling back and LND learning to wumbo, CoinDesk's Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Bitcoin Options Open Interest Nears All Time High – But Rise in Puts Could Presage Drop While soaring open interest can be a sign of a continuing trend, the offloading of calls suggests bitcoin could correct further. Ready to Wumbo: LND Enables More, Larger Bitcoin Transactions on Lightning LND now supports Lightning Network wumbo channels. These channels have the capacity to hold more funds, and users can send larger bitcoin transactions. VC-Backed Crypto Exchange Mexo Launches in Latin America Mexo, a cryptocurrency exchange designed for the Latin American user, launched on Thursday. Thailand Is Prepping to Move Judicial System Records to a Blockchain The Office of the Court of Justice is developing its blockchain as part of Thailand's court digitization campaign.

With bitcoin taking a back seat to the DeFi boom and data platforms aiming for the moon, CoinDesk's Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Bitcoin Risks Deeper Drop if Dollar Rebounds The bitcoin price could pull back even further should the dollar stage a full-blown recovery on the back of the latest Fed meeting. OMG Price Doubles as DeFi and Record Ethereum Fees Create ‘Perfect Storm’ OMG has more than doubled in the past seven days as record Ethereum fees lead investors to look more closely at layer-2 solutions. Russia's New Blockchain Elections Remain Centralized There will be two blockchain voting pilots for Russia's off-year election next month. TechCrunch:Moon lander startup ispace raises $28 million and launches a new lunar data platform

With bitcoin pulling back from its bull run and the emergence of YAM-inspired “Spaghetti Money,” CoinDesk's Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Bitcoin's Bull Run is Slowing – Pullback Now Expected Some analysts are now predicting further price corrections after bitcoin fell back below the $12,000 milestone on Tuesday. Money Legos Turn 'Exuberant' as Chainlink Stripped of 'DeFi' This year's growth in the cryptocurrency subsector DeFi has been so remarkable that some analysts are now calling the phenomenon "exuberant." UK Regulator Grants License to Digital Security Exchange Archax The U.K. watchdog has granted several licenses to Archax that will allow it to become a "one-stop shop" for the digital security space. Binance-Owned WazirX Announces DeFi Project With Matic The exchange has opted for Matic instead of Ethereum’s network, which is currently dominating the DeFi space because of "high gas costs." $200m Staked in YAM-Inspired DeFi Protocol in Under 12 Hours The DeFi craze continues as investors stake $200 million in a new yield farming protocol that's not even 12 hours old yet.

With bitcoin's exchange reserves at a 20-month low and its hashrate getting soaked in Sichuan, CoinDesk's Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Bitcoin Holding Sentiment Strongest in Nearly Two Years The amount of bitcoin held on crypto exchanges is down to a 21-month low, a sign investors are feeling bullish. Bitcoin Passes $12K, Dollar Worries Grow, OMG Jumps, Portnoy's Orchid #Pump Bitcoin rises, Warren Buffett buys a gold miner, Wall Street dollars worry grow, OMG's price jumps, Orchid gets #pump tweet, Ethereum Classic's possible delisting. Heavy Rainstorms in China Are Hurting Bitcoin's Hashrate Major Chinese bitcoin mining pools are each seeing daily hashrate drops of between 10% and 20% following continuous rainstorms in Sichuan. Binance Charity Pledges $20K to Beirut Explosion Relief Efforts Binance's charity arm is donating $20,000 to the victims of an explosion that rocked Lebanon's capital earlier this month.

With bitcoin’s hashrate reaching record highs and litecoin hoping to Mimblewimble its way into new users' wallets, CoinDesk's Markets Daily is back with your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Litecoin Gets Bullish Speculation, at Last, as Upgrade Approaches "The upcoming privacy upgrade would leave litecoin valuations around all time highs," one industry analyst said. Bitcoin Price Holds Below $12K Even as Hash Rate Hits All-Time High Bitcoin's hashrate has soared to record highs, some analysts say it might kick the price out of its rut. Crypto Long & Short: The Surprisingly Sunny Outlook for Crypto Hedge Funds Bitcoin returns are beating crypto hedge funds, but other recent developments point to more favorable tailwinds for those funds in the long term. Ex-Prudential Securities CEO Calls Bitcoin a 'Safe Haven' George Ball, who claimed himself as a Bitcoin and blockchain opponent, said bitcoin or another cryptocurrency is “very attractive” both in the long term and short term.

With traditional finance and crypto traders both enjoying market madness, CoinDesk's Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: CME Rises in Bitcoin Futures Rankings as Institutional Interest Grows Institutional exchange CME has become the third-largest bitcoin futures exchange by number of open contracts. As Wall Street Goes Topsy-Turvy, Crypto Traders Are Bullish as Ever Crypto traders are enjoying their own version of the market’s madness, from bitcoin’s bull run to the collapse of YAM to Dave Portnoy. Singapore's Central Bank Backs New Code of Practice for Crypto Companies The guidance is aimed at assisting regulatory compliance and enhance crypto industry conduct under the city-state's payment laws. Belarus Is Back Online, With Lessons About Censorship Resistance What do you do if your country unplugs the internet? Satellite and mesh networks are possible future solutions, but they have technical and political limitations. China to Launch Major Expansion of Digital Currency Trials China is said to be planning additional testing of its digital yuan across a number of developed regions including Hong Kong.

With the price of BTC bouncing and ETH miners on the rise, CoinDesk's Markets Daily is back for your news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Bitcoin Recovers From $11.3K Despite Losses in European Stocks Bitcoin has shrugged off a drop to $11,300 for the third day running, possibly buoyed by gold's recovery on Wednesday. Daily Profitability for Ethereum Miners Hits Over 2-Year High The surge in profitability comes after rises in transaction fees and prices of the ether cryptocurrency. Coinbase to Offer Bitcoin-Backed Loans to US Customers Coinbase will allow U.S. retail customers to borrow fiat loans against as much as 30% of their bitcoin holdings starting in the fall. YAM's Market Cap Falls From $60M to Zero in 35 Minutes YAM’s market cap fell to zero just minutes after the co-founder pronounced the yield farming project dead. A rescue plan is now in the cards.

With bitcoin prices sitting around $12K and Russia developing “Transparent Blockchain” AI, CoinDesk's Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: First Mover: How a DeFi Trader Made an 89% Profit in Minutes Slinging Stablecoins So-called stablecoins like tether and USDC are $1 tokens in theory, but a complex arbitrage transaction seems to have netted one trader an 89% profit in just minutes. Some Traders Now Taking Bets Ether Will Break $1K by December Some option traders are now betting ether will rise to $1,000 by year’s end. The Linux Foundation Wants Open-Source Tech to Address Future Pandemics The Linux Foundation hopes open-source apps will play a key role in tracing exposure to diseases like COVID-19 while being fully transparent. Russian Financial Crime Agency Plans AI Tool to Link Crypto Transfers to Users Russia's anti-money laundering agency Rosfinmonitoring has already built a prototype blockchain analytics tool, according to a report.

With bitcoin increasingly acting like gold and one company betting a quarter of a billion dollars on BTC, CoinDesk's Markets Daily is back for your news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Bitcoin Rally Stalls as Increasingly Correlated Gold Drops Below $2K Bitcoin is increasingly taking cues from gold, a tried-and-tested store of value asset. MicroStrategy Buys $250M in Bitcoin, Calling the Crypto 'Superior to Cash' Digital gold is now the "principal holding" of MicroStrategy's revamped treasury reserve strategy. After Tumultuous Election, Belarus Goes Offline Internet is down in Belarus as people are protesting the results of presidential election Blockchain to Play 'Essential Role' in Farming Supply Chains, Says US Government An agency attached to the U.S. Department of Agriculture said it expects blockchain will play an important role in the sector's supply chains.

With the price of bitcoin knocking on $12k, CoinDesk's Markets Daily is back with another time saving news roundup. This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: First Mover: Bitcoin Hits $12K as Trump Orders Checks for Unemployed (Voters) Bitcoin pushed above $12,000 as President Donald Trump ordered emergency economic aid measures that might just be a precursor to a new spending bill worth trillions of dollars. Ethereum Classic Attacker Double-Spends $1.68M: Report The attacker attempted to double-spend roughly $3.3 million during the second attack. Crypto Attacks and What They Mean for Open-Source Value Ethereum Classic's recent 51% attacks highlight the value of large open-source networks such as Bitcoin and Eth – it’s about more than hashrate.

With bitcoin prices surging and a quick look at crypto lawsuits, CoinDesk's Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: First Mover: Bitcoin Rises More in One Day Than Stocks Have Gained All Year Bitcoin prices surged 5% Wednesday, outpacing stocks and gold amid calls for more government stimulus to stem the fallout from the coronavirus pandemic. Judge Worries Plaintiffs' Lawyers Trying to Line Their Pockets in Block.one ICO Lawsuit The district judge criticized a class-action lawsuit brought against Block.one for appearing to be an attempt to earn high legal fees. Investors Suing Over Status ICO Can't Find Execs to Serve Papers Investors suing crypto firm Status are seeking “alternative means” to serve top executives after they were unable to deliver court papers via traditional means. Man Accused of Arranging Murder to Avoid Crypto Debt Can't Escape Jail, Brazilian Court Rules Crypto businessman Danilo Afonso Pechin remains jailed after Brazil's High Court refused to hear his request for habeas corpus.

With bitcoin pushing towards $12,000 and gold at record highs, CoinDesk's Markets Daily is back for your crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Bitcoin Price Rises 3% as Gold Trades Above $2K for First Time Bitcoin is again acting like a macro asset, drawing bids amid record rally in gold and broad-based U.S. dollar sell-off. Square Reports 600% Increase in Quarterly Bitcoin Revenue Jack Dorsey's Square has seen one of the largest quarterly increases yet for its bitcoin business. Square Crypto, Human Rights Foundation Ramp Up Bitcoin Development Grants Square Crypto and the Human Rights Foundation are continuing their support for an open source Bitcoin developer community with new contributor grants.

With investment opportunities in traditional markets drying up, bitcoin futures are drawing record interest. CoinDesk's Markets Daily is back for your bitcoin news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Bitcoin Futures Interest Soars as Bond Yields Fall to Record Lows: Industry Exec Surging open interest in crypto derivatives suggests investors are seeking alpha in other investments, like bitcoin, said the co-founder of an index fund provider. Blockchain Bites: Hedge Fund Down, Banana Bets and the Twitter Hack Fallout Another crypto hedge fund has called it quits, the teenage Twitter hacker reportedly had millions in bitcoin and Huobi sees DeFi as its next venture.

After a flash-crashy weekend, CoinDesk's Markets Daily is back with your quick daily update. This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Bitcoin Investors Unshaken By Sunday's Flash Crash, Data Suggests Bitcoin investors look to have shrugged off Sunday’s sudden $1,400 price crash. First Mover: July Was a Runaway Month for Crypto Returns Crypto traders didn't have to be choosy to make money in July, when every digital asset in the CoinDesk 20 rose (except, of course, for the stablecoins).

With the dollar dropping to its lowest level since May 2018 and a reshuffle in Japan's central bank, CoinDesk's Markets Daily is back. This episode is sponsored by Bitstamp and Crypto.com. Today's stories: Bitcoin on Track for Highest July Price Gain in 8 Years Bitcoin appears on track to register its best July price performance for eight years and confirm a major bullish breakout in the process. Dollar Falls to Lowest Level in Over 2 Years While Gold, Silver, Bitcoin Continue to Shine The dollar index dropped to its lowest level since May 2018. Bank of Japan Puts Top Economist in Charge of Digital Yen Initiative The central bank's most senior economist now runs the department responsible for the digital currency task force and working group with other central banks. Bank of England Building Payments Network to Support a Potential Digital Pound CoinDesk has learned the Bank of England's new settlement system is being built so it can be forwards compatible with a digital currency.

With the price of bitcoin hovering near recent highs and some wondering whether we're poised for a pullback, CoinDesk's Markets Daily is back for your latest news roundup. This episode is sponsored by Bitstamp and Crypto.com. Today's stories: Bitcoin Looks Overbought but Analysts Play Down Drop Fears Bitcoin's rally looks overstretched, according to a technical indicator, but short-term price consolidation looks more likely than a drop, say analysts. A Crypto Derivatives Exchange Is Getting a Nasdaq Listing in Q3 Originally postponed due to the pandemic, EQUOS.io is still set to be the first crypto exchange on the Nasdaq. Police Arrest 27 Alleged Masterminds Behind $5.7B Plus Token Crypto Scam Chinese police have arrested 27 leaders and 82 others suspected of operating the Ponzi scheme. Malaysia's Stock Exchange Eyes Blockchain for Bond Market Digitization Known as Project Harbour, the initiative will use distributed ledger technology as a register for a bond marketplace.

With the battle for CBDC dominance in the East heating up and smart contract use skyrocketing as Ethereum turns five, CoinDesk's Markets Daily is back with another news roundup. This episode is sponsored by Bitstamp and Crypto.com. Today's stories: Bitcoin's Latest Rally May Have Staying Power, Exchange Flows Suggest The flow of bitcoin and stablecoins in and out of cryptocurrency exchanges observed on Monday suggests the latest price breakout may persist. Soaring DeFi Usage Drives Ethereum Contract Calls to New Record Coin Metrics reported the daily number of smart contract calls on Ethereum jumped to 3.11 million – a new record. Digital Yen Now 'Top Priority' for Japan Central Bank, Says Senior Official The comments mark a shift in priority for Japan as it seeks to counter the economic threat from regional rival China. Crypto Wallet Maker Ledger Loses 1M Email Addresses in Data Theft An unknown hacker gained access to the wallet maker's marketing database, stealing a million email addresses as well as personal information for 9,000 customers.

With bitcoin pulling back a little after yesterdays frenzied rush above $11,000, CoinDesk's Markets Daily is back with another news roundup. This episode is sponsored by Bitstamp and Crypto.com. Today's stories: Bitcoin Futures Volume Surges 186% as Price Hits $11K The market for bitcoin futures snapped back to life on Monday as the cryptocurrency's price surged to an 11-month high. Ethereum Miners' Income Soars by 60% in a Month – Outruns Ether's Price Jump Ethereum miners may have benefited the most from ether’s recent price rise and soaring transaction fees. Ethereum 2.0: How It Works and Why It Matters A new 22-page report from CoinDesk Research explains the technology behind Ethereum's upcoming overhaul and the potential market impact of Eth 2.0.