Coindesk

CoreWeave is looking to downsize its initial public offering just one day before hitting the market, Semafor reported.The AI infrastructure firm was previously expected to raise $3 billion at a $30 billion valuation, according to the story, but the size has been cut and the valuation lowered to just $23 billion.A separate story from Bloomberg said CoreWeave is now looking to raise only $1.5 billion.CoreWeave is in close partnership with bitcoin miner Core Scientific (CORZ), which was expected to profit from the IPO if the results are positive and sustain strong revenue growth over the next few years.In early U.S. trading, CORZ is up fractionally, but down sharply over the past month and for 2025 as a whole. AI-related tokens...

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.The CoinDesk 20 is currently trading at 2731.35, up 0.4% (+11.44) since 4 p.m. ET on Wednesday.Twelve of 20 assets are trading higher.Leaders: SUI (+7.1%) and AAVE (+3.6%).Laggards: DOT (-1.6%) and XRP (-1.4%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link

Market-making on-chain trades is mysterious and important – and lucrative, too. The problem, according to pseudonymous trader Grug, is that crypto protocols with valuable order flow are leaving money on the table.Grug's company Warlock Labs just raised $8 million in venture funding for what he believes is the solution: a proprietary trading firm that uses on-chain data to prove it is processing order flow responsibly.The two-year old company is set to enter the complex blockchain pipes that facilitate trading on Ethereum. Here, an army of savvy operators offer kickbacks to protocols in exchange for the chance to process their order flow, which they can squeeze for tens of millions of dollars a year.But there's no guarantee those players aren't giving...

A contentious $7 million bet on prediction platform Polymarket has sparked disagreement between the Polymarket and UMA communities. The bet, which speculated on whether Ukraine would agree to a mineral deal with U.S. President Donald Trump before April, saw its "yes" probability surge from 9% to 100% between March 24 and 25, despite no official agreement being reached.Polymarket relies on UMA, an optimistic oracle system, to determine the outcomes of its prediction markets. In this system, anyone can propose a resolution by staking a $750 USDC.e bond, which can then be challenged. If a dispute arises, UMA token holders vote to settle the matter. In this case, the bet resolved as "yes," leading many users to suspect manipulation by a...

While macroeconomic uncertainty and technical indicators raise doubts about bitcoin's (BTC) recent gains, purchasing activity by some of the largest investors indicates a more optimistic outlook.Since March 11, so-called bitcoin whales have snapped up over 129,000 BTC, worth $11.2 billion at the market price of $87,500, according to data tracked by blockchain analytics firm Glassnode.That's the most significant accumulation rate since August 2024, indicating growing confidence in the largest cryptocurrency among the biggest market participants, Glassnode commented on X. BTC has regained some poise, since reaching lows under $78K roughly two weeks ago. The recovery has been led by dovish comments from Federal Reserve and optimism that impending Trump tariffs on April 2 will be more measured than expected.Glassnode's analysis...