Everything web3, crypto, defi, degen
In brief The SEC exempted liquid staking services from regulation Tuesday. Services like Lido and Jito are now formally greenlit to issue staking tokens and pay out crypto staking rewards to customers without registering with the agency. The move follows a similar SEC exemption in May that permitted unregulated self-custodial and custodial staking. The SEC…
In brief Bitcoin-buying firms offset Galaxy Digital’s massive Bitcoin sale, Mike Novogratz said. Crypto-buying firms should continue to support prices, he added. Galaxy Digital has partnered with 20 crypto asset treasury firms. Institutional crypto firm Galaxy Digital was tasked with executing one of the largest Bitcoin sales in history at a pivotal time, according to…
In brief Trump is reportedly planning to sign an order as early as this week protecting crypto companies and conservatives from certain alleged banking practices. The order directs banking regulators to examine violations of equal credit laws and consumer protection regulations, with banks facing financial penalties and enforcement actions. The order targets “Operation Chokepoint 2.0″…
In brief Nasdaq and Russell 2000 led gains Monday, while Bitcoin posted a smaller advance. Revised jobs data fueled a surge in rate cut expectations ahead of the Fed’s September meeting. Traders point to unresolved macro risks and rising put activity in Bitcoin as signs of caution. U.S. stocks rebounded Monday, lifting risk assets broadly,…
In brief Cryptocurrency exchange Bullish formally filed for IPO. The exchange aims to raise up to $629 million based on an initial share price of $28-$31. The firm previously sought IPO in 2021, but plans were spoiled due to market conditions in 2022. Cryptocurrency platform Bullish publicly filed its F-1 registration with the SEC on…
In brief Coinbase’s stock fell 17% on Friday, the day after the crypto exchange reported its second-quarter earnings. Analysts say the trading platform is poised to report stronger earnings numbers in subsequent financial quarters. Coinbase’s acquisitions and expansion beyond crypto-only services could lift its sagging stock. COIN plunged 17% on Friday, just a day after…
In brief Bitcoin, Ethereum, and XRP all continued a dayslong slump Friday, helping push crypto liquidations over the $900 million mark. The overwhelming majority of those liquidations, over $823 million worth, were of long positions. The downturn was due mainly to macro political and economic factors, including a poor U.S. jobs report, new sweeping global…
In brief The White House unveiled new tariffs on Thursday. A cooler-than-expected jobs report pointed to a tepid labor market. Odds of a September rate cut surged to 83% from 37%. The price of Bitcoin and other cryptocurrencies wavered on Friday as investors weighed the White House’s latest round of tariffs against fresh signs of…
In brief JP Morgan CEO Jamie Dimon reaffirmed support for stablecoins, calling them potentially more useful than cash, while maintaining his skepticism toward Bitcoin. Dimon said blockchain and stablecoins meet customer demand, even if they don’t align with the bank’s personal preferences. The comments follow JP Morgan’s new deal with Coinbase, allowing Chase customers to…
In brief Analysts’ Coinbase forecasts had called for $1.59 billion in total revenue. The crypto exchange giant has made multiple major acquisitions this year, including for options trading platform Deribit. The company’s stock price was down more than 6% in after-market trading. Coinbase clocked $1.5 billion in total revenue, a 25% drop from the previous financial quarter, as…
