Coindesk

The crypto lending market is still a shadow of its former size preceding the brutal 2022-2023 crypto winter, but beneath the surface, signs of recovery are emerging, especially in the decentralized corner of the space, digital asset investment firm Galaxy Research said in a report on Monday.The total crypto lending market stood at $36.5 billion at the end of 2024, including loans backed by crypto-collateralized stablecoins, according to the report. That's a steep decline from the $64.4 billion peak seen at the height of the 2021 bull run when borrowing against crypto soared amid a wave of speculative fervor.The downturn, fueled by the collapse of major lenders such as Celsius, BlockFi and Genesis, left a few large players to dominate...

By James Van Straten (All times ET unless indicated otherwise)Bitcoin (BTC) continues to defy global economic uncertainty, inching closer to reclaiming $86,000. It is now less than 3% away from its "Liberation Day" high. To put the move into perspective, bitcoin dominance — which measures BTC’s share of the total cryptocurrency market cap — is approaching 64%, a level not seen since January 2021.In contrast, the Nasdaq 100 is still 5% away from its own Liberation Day high, underscoring bitcoin's relative strength versus U.S. equities. According to X account Cheddar Flow, the S&P 500 has just formed a "death cross" — a traditionally bearish signal that occurs when the 50-day moving average falls below the 200-day moving average. The last...

'Sell bonds, buy bitcoin,' proclaimed a popular social media account last week, echoing the sentiments of many crypto advocates who believe that tariff-induced volatility in the U.S. Treasury market – a cornerstone of global finance – has revealed the fragility of the dollar-denominated monetary system. However, institutions are not buying into this narrative.As of Monday, the 11 U.S.-listed spot Bitcoin ETFs, considered a proxy for institutional activity, were on track to register the second-highest cumulative monthly outflow of over $800 million, according to data source SoSoValue. The funds bled a record $3.56 billion in February and $767 million in March.Meanwhile, the three-month Treasury bills auctioned Monday drew strong demand from institutions. According to data source CME, the U.S. Treasury sold...

Crypto exchanges Binance and KuCoin temporarily suspended withdrawals amid reported issues with their data center provider Amazon Web Services (AWS)."We are aware of an issue impacting some services on the #Binance platform due to a temporary network interruption in the AWS data center," Binance said in an X post."Some orders are still successful, but some are failing. If users failed, they may keep retrying."Binance opened withdrawals just over five minutes after the issue was first reported. Users are still reportedly facing issues placing trades on both Binance and KuCoin, X posts show.Crypto wallet Rabby and on-chain analytics tool DeBank reported issues in separate X posts as well, with all services unavailable.AWS is a cloud computing platform providing services like storage,...

KiloEx, a decentralized exchange (DEX) for trading perpetual futures, was hit by a sophisticated attack earlier Tuesday that left users reeling with losses of around $7 million.The exploit unfolded across multiple blockchain networks and appeared to stem from a vulnerability in the platform’s price oracle system, per blockchain analysis firm Cyvers.An attacker, using a wallet funded through Tornado Cash — a tool that obscures transaction trails — executed a series of transactions on the Base, BNB Chain, and Taiko networks to take advantage of a flaw in the platform’s price oracle system, which allowed the attacker to manipulate asset prices.KiloEx has since confirmed the breach, suspended platform operations, and is now working with partners to trace the stolen funds and...