Everything web3, crypto, defi, degen
In brief Bitcoin broke below $110,000 Thursday morning, dragging top altcoins down in a broad sell-off. The drop triggered $524 million in liquidations as the total market cap fell 3.1% to $3.85 trillion. Options data shows heavy bearish betting, with traders pricing in more downside risk. The cryptocurrency market extended its losses on Thursday with…
In brief Burger restaurant Steak ‘n Shake has launched a Bitcoin Steakburger with the BTC logo stamped on the bun. The burger rollout celebrates five months of the restaurant accepting BTC payments. Same-store sales have increased in each of the last two quarters, some of which the brand attributes to the Bitcoin community. Burger restaurant…
Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.GM!Today’s top news: Crypto majors red again as Trump confirms trade war; Bitcoin at $111,200 Paxos accidentally mints $300T PYUSD onchain before burning Erebor Bank…
In brief The Financial Stability Board’s review of nearly 40 jurisdictions found “significant gaps and inconsistencies” in crypto regulations that threaten financial stability. A separate European Banking Authority report revealed crypto firms engaging in regulatory “forum shopping” across EU member states. Cross-border cooperation remains “fragmented, inconsistent, and insufficient,” with authorities struggling to share information due…
By Arjun Sethi, Kraken co-CEO When the head of the International Monetary Fund says fiat is going digital and urges countries to accept reality, that is not a policy tweak. It is the moment the establishment admits that the world has already changed. For years, global institutions treated crypto as a novelty or a risk.…
We’re excited to announce we have acquired Small Exchange, a CFTC-licensed Designated Contract Market (DCM) from IG Group for $100 million. This move lays the foundation for us to launch a fully U.S.-native derivatives product suite, creating a deep, sophisticated onshore venue in the world’s largest capital market. The acquisition of Small Exchange advances our…
In brief Crypto exchange Kraken has purchased U.S. contract market Small Exchange for $100 million from British finance group IG. The deal gives Kraken a license to offer derivatives trading in the U.S. for the first time. Kraken opened up futures trading for U.S. customers in July, amid positive regulatory changes in the U.S. Kraken,…
In brief BNB shows a complex market structure with spot buying rising as futures selling increases. Open interest is down 36%, with declining CVDs pointing to active selling or profit-taking. Oracle issues and depegs at Binance have caused a “drop in confidence” according to analysts, adding short-term pressure to the token. BNB’s long-standing uptrend could…
In brief Compass Coffee in Washington, D.C. became the first Square seller globally to process Bitcoin payments through a standard register during DC Fintech Week, with all transactions completing instantly. Block’s new Bitcoin payment system allows merchants to accept crypto and convert up to 50% of daily sales into Bitcoin starting November 10, with zero…
In brief Burke revealed Australia’s crypto ATM count has exploded from 23 machines six years ago to over 2,000 today, with 85% of top user transactions linked to scams or money mules. The proposed legislation would grant AUSTRAC the authority to restrict or prohibit “high-risk products,” with crypto ATMs specifically targeted. The move follows months…
