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In today’s newsletter, Fintech Wrap Up’s Sam Boboev explains how stablecoins can become a payment rail in the digital economy. Then, in Ask the Experts, we provide advisors with takeaways from last week’s Consensus Conference in Miami—the key themes: Wall Street agrees. Stablecoins are becoming payments infrastructure, not cryptoassets Stablecoins started out as a narrow…
Kraken said it will replace LayerZero, a protocol for moving crypto assets across blockchains, with an equivalent from Chainlink, after last month’s $292 million bridging attack on liquidity recollateralization protocol Kelp exposed the risks of traditional cross-chain infrastructure. Chainlink’s Cross-Chain Interoperability Protocol (CCIP) will be Kraken’s exclusive cross-chain service for packaged crypto assets, including kBTC,…
XRP was the biggest gainer over the past 24 hours, while the rest of the market traded lower as buyers retreated to around $1.43. Bitcoin, ether, solana and dogecoin fell as much as 2%, while Ripple-related tokens gained 1.5%. news background • Even as broader cryptocurrency momentum cools, XRP continues to attract steady institutional interest,…
Moody’s gave Aaa-mf assessments of tokenized money market funds issued by Fidelity and BlackRock, validating their safety as income-generating on-chain products. The Aaa-mf assessment demonstrates its strong ability to ensure high liquidity and capital preservation as well as minimal risk levels. An assessment usually implies a broader analytical view, while an actual rating is a…
Cryptocurrency markets remain subdued on Thursday, Bitcoin Bitcoin$79,987.09 With prices below $80,000, many altcoins are facing serious losses. The largest cryptocurrency recently changed hands for about $79,800 after falling to $78,720 on Wednesday. Crucially, it remains below the weekly opening price of $82,500. U.S. inflation data remains high, with the producer price index (PPI) rising…
According to the Financial Times, Cerebras Systems priced its IPO at $185 per share on Wednesday night, aiming to raise $5.5 billion, valuing the artificial intelligence chip maker at $40 billion. The company, a maker of chips designed for workload-driven tools like Claude Code and ChatGPT, was valued at $8.1 billion just eight months ago,…
Cryptocurrency platform and CoinDesk parent company Bullish (BLSH) reported first-quarter adjusted revenue that fell short of analysts’ expectations as weak digital asset trading activity at the start of the year hurt earnings. The company reported adjusted revenue of $92.8 million, compared with FactSet analyst estimates of $94.9 million. Adjusted earnings before interest, taxes, depreciation, and…
This is an excerpt from CoinDesk’s newsletter “Daybook.” If you haven’t registered yet, please register here. The main event for digital assets this week – the US Clarification Act price increase will be announced later today. The cryptocurrency market, led by Bitcoin, seems to treat this as a trivial matter. The proposed bill aims to…
Bitcoin’s Bitcoin$79,550.57 Gold’s recent push above $80,000 was driven by leveraged trades and lacked significant participation from U.S. investors, who typically play a key role in sustaining bullish trends. The underperformance of U.S. spot buyers relative to their global peers is evident in the Coinbase premium, which measures the price gap between Bitcoin on Coinbase…
The Senate Banking Committee will hold a markup hearing on the Digital Asset Market Clarity Act, commonly known as the Clarity Act, on Thursday, kicking off a key process for the long-awaited market structure bill. At Thursday’s hearing, the committee’s 24 senators will debate and vote on dozens of proposed amendments to the text released…