Coindesk

More than $680 million in crypto positions were liquidated over the past 24 hours with short traders taking the bulk of the pain as a bitcoin (BTC) breakout above $121,000 triggered a chain reaction across derivatives markets.Roughly $426 million of the total liquidations came from bearish bets, according to Coinglass data, making it one of the largest weekend liquidation events in recent months. The largest single order, a $92.5 million BTC short, was flushed on HTX.BTC alone saw $291 million in forced closures, with futures tracking ether (ETH) and XRP (XRP) following at $68 million and $17 million, respectively. XLM (XLM) and pepecoin (PEPE) also posted elevated activity, signaling that the squeeze extended deep beyond major tokens.Meanwhile, dogecoin (DOGE), Solana's...

Metaplanet, the largest corporate bitcoin (BTC) holder outside North America, has purchased an additional 797 BTC, worth around $96 million, bringing its total bitcoin holdings to 16,352. Simon Gerovich, CEO of the Tokyo-listed hotelier, recently told the FT that the firm aims to leverage these holdings as collateral to finance acquisitions of cash‑generating businesses, particularly in digital financial services.Metaplanet's strategy mirrors the blueprint used by Michael Saylor’s Strategy (MSTR): accumulate bitcoin via equity and debt issuance, then use the asset base to secure financing for broader expansion. Metaplanet has already tapped zero‑interest bonds, stock acquisition rights, and U.S. capital markets—including a planned $5 billion injection into its Florida subsidiary—to fund BTC buying and strengthen its treasury infrastructure.Read more: Metaplanet Wants to Use...

Bitcoin (BTC) rose past $120,000 for the first time on record, taking the year-to-date gain to 28%.BTC is currently trading above $121,000 as of midday Hong Kong time, according to CoinDesk market data. The move follows President Donald Trump's decision to impose a 30% tariff on the EU and Mexico, starting Aug. 1, and marks a bullish resolution to roughly 48 hours of choppy price action that allowed overbought signals from short-duration indicators to reset to bullish.The focus now shifts to the U.S. inflation data due this week, which is expected to show the cost of living ticked up in June against the backdrop of Trump's trade war.According to FactSet, economists expect that the consumer price index (CPI) rose 0.25%...

Good Morning, Asia. Here's what's making news in the markets:Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas.Rest in Peace, Coinbase Wallet.No, the app itself isn't going away, but it is getting a new name.On its X profile, its name is crossed out and replaced with a 'TBA' and a few question marks."There’s plenty of speculation about what it means, but I’m leaning toward 'The Base App.' That would fit the idea of Base unveiling a range of in-app experiences directly inside its wallet," Bradley Park, a Seoul-based analyst with DNTV Research, told CoinDesk in...

Caffeine is an innovative platform built on the Internet Computer (ICP) blockchain that enables users to create decentralized Web3 applications using natural language commands — no coding skills needed. By simply describing what they want, users interact with an AI-powered system that instantly generates fully functional, secure, and scalable apps running entirely on-chain. These apps are deployed as smart contracts (called canisters) on the Internet Computer, ensuring they are tamper-proof and decentralized.The platform’s interface resembles a chat experience, where users communicate with an AI “builder agent” to specify app features and functionality. This conversational approach allows continuous refinement and customization of apps through simple text prompts, making app development accessible to everyone, regardless of technical background.Caffeine supports a wide range...