Coindesk

Circle made its public market debut Wednesday on the New York Stock Exchange (NYSE) under the ticker “CRCL,” pricing its shares at $31 — above the expected $24 to $26 range.The company sold around 34 million shares in the offering, for a valuation of $1.1 billion. Bloomberg pegs the total amount raised in the IPO at $6.2 billion.Circle initially planned to offer just 24 million Class A shares, with 9.6 million coming from the firm itself and the remainder from early stakeholders. But as demand soared, the offering ballooned to more than 10 times the original amount.This initial public offering (IPO) marks the second major crypto company to go public under the Trump administration, after eToro listed last month.The stablecoin...

Ethereum co-founder Vitalik Buterin transferred around $2.6 million worth of tokens through the privacy-focused protocol Railgun on Wednesday, in what appears to be both a routine financial transaction and a quiet endorsement of blockchain-based privacy.It's unclear how the funds sent to Railgun — which included a mix of ETH and USDC — were ultimately used. Railgun is a tool designed to obfuscate on-chain activity, enabling investors to use decentralized finance (DeFi) protocols without transactions being tied to their personal crypto wallets.It is not the first time Buterin has used the protocol. In March, he moved approximately $500,000 through Railgun in a similar transaction. While Buterin has not commented directly on the latest transfer, his continued use of the tool underscores...

This week's main economic event comes on Friday when the U.S. government releases employment data for May. Ahead of that though, were three fairly important data points of their own on Wednesday, and all flashed unexpected weakness.First to hit was ADP private payrolls for May and that report showed the addition of just 37,000 jobs last month, far shy of expectations for 115,000 and well south of April's already weak 60,000. It was the weakest ADP number since March 2023.Next up was the May ISM Services report, which came in at 49.9 against 52 expected and 51.6 in April. A number below 50 shows contraction and May's report was the first time in that zone in one year.Finally, the U.S....

U.S. House of Representatives Republicans are forging ahead with legislation to establish regulations for U.S. crypto markets, dissecting that effort in a pair of hearings on Wednesday, but Democrats insist the complex bill is hurried, flawed and fails to address a chief complaint: their accusations that President Donald Trump is engaged in crypto corruption.The House Financial Services Committee and House Agriculture Committee both examined the changes contemplated by Digital Asset Market Clarity Act, with witnesses in the financial committee including two former chairmen of the Commodity Futures Trading Commission and a former acting chairman of the Securities and Exchange Commission.Republican lawmakers praised the bill as an urgently needed, long-awaited answer to both the digital assets industry's desperation for clear rules...

Recent price action reveals TON's struggle to maintain stability, with a failed breakout attempt at $3.22 followed by accelerated selling during peak trading hours, according to CoinDesk Research's technical analysis model. The move comes as the broader market gauge, CoinDesk20 Index, remained flat. Technical indicators paint a potential bearish picture on the short-term timeframe as the formation of lower highs and lower lows suggests building bearish momentum.The breakdown of the $3.16 support level, confirmed by high-volume selling, has opened the door to further potential downside as global economic tensions continue to reshape investor priorities across both traditional and cryptocurrency markets.Technical analysis highlights• Failed breakout attempt at the $3.22 resistance level, followed by consistent selling pressure.• Accelerated selling with above-average volume.•...