Everything web3, crypto, defi, degen
In brief A short-selling cascade drove Bitcoin down 3.5% to $107,500, on Thursday, adding over $1 billion in bearish bets. The sell-off triggered $724 million in liquidations, with longs accounting for 74% of the total wipeout. A market schism emerged as spot buyers on Coinbase accumulated while shorts attacked on derivatives. Bitcoin experienced a sharp…
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…
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…
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 More than $19 billion worth of crypto positions were liquidated on Friday amid a flash crash. Market experts believe that increased amounts of leverage in crypto could be creating systemic risk, with leverage cascades potentially becoming a more common occurrence. It comes as Hyperliquid and Aster have made high levels of leverage more…
In brief CME is facilitating options trades for Solana and XRP futures. So far, CME’s website shows five contracts outstanding for each asset. CME’s Solana futures were more popular than XRP alternatives in the third quarter. CME Group said on Tuesday that it has begun facilitating trades for options on Solana and XRP futures, giving…
In brief Synthetix (SNX) is up 190% over the past month ahead of its Q4 Ethereum mainnet perpetual DEX launch. The rally has fueled a spike in on-chain activity with 975 new wallets and 229 whale transfers in a day. Experts call the recent pullback a healthy correction, with long-term growth depending on user retention.…
In brief Bitcoin hit a new all-time high last week, before plunging following President Trump’s tariff announcements. It has recovered slightly, while gold has already jumped to a new high this week. Bitcoin and gold will continue to be bought by traders to hedge against currency debasement, experts told Decrypt. Bitcoin had been on a…
In brief Bitcoin dropped from $121,000 to $106,000 on Friday after Trump announced 100% tariffs on China, triggering $19 billion in liquidations within 24 hours. The crash hit leveraged traders on centralized exchanges hardest, with 1.6 million positions liquidated as the timing—after market close—left crypto as the only outlet for investor reaction. Leverage amplifies both…
