Coindesk

Global economic tensions and shifting trade policies continue to create volatility across cryptocurrency markets, with TON experiencing significant downward pressure.The token's recent price action has formed a descending channel with consecutive lower highs and lows, breaking below key support levels on high trading volume. Meanwhile, competing blockchain projects are gaining attention as investors seek alternatives amid market uncertainty, with some analysts projecting potential recovery for TON if it can establish support at current levels.Technical Analysis HighlightsTON formed a descending channel with consecutive lower highs and lower lows over the past 24 hours.Price broke below the critical $3.00 psychological support level during hours 9-12 on high volume (3.96M), indicating strong selling pressure.A notable volume spike (4.43M) during the final trading hour...

Roman Storm's defense team wants to know if the U.S. Department of Justice is withholding any information that may help the Tornado Cash developer's case.In a letter filed late Friday, defense attorneys said recent disclosures in another, somewhat similar, case raised concerns that prosecutors either misled the judge overseeing the case or otherwise was playing "fast and loose.""The defense recently learned that the government has possessed exculpatory materials since August 2023 that go to the heart of a fundamental issue in this case: whether a noncustodial cryptocurrency mixer is a 'money transmitting business' for purposes of 18 U.S.C. § 1960," the filing said. "The government’s failure to produce those materials in the fall of 2023, when Roman Storm was indicted...

BounceBit, a crypto infrastructure provider using features from both centralized (CeFi) and decentralized finance (DeFi), has executed a bitcoin (BTC) derivatives trading strategy using BlackRock's yield-generating tokenized money market fund, BUIDL, to enhance returns.The strategy, to be rolled out to institutions and retail users, consisted of two main components: a bitcoin basis trade, involving a long position in the spot market while shorting futures, and a short position in BTC put options, both collateralized by BUIDL tokens.The basis trade, also known as cash and carry arbitrage, alone generated an annualized yield of 4.7%, with put option writing contributing an additional 15%. Combined with the 4.25% return from BUIDL used as collateral, the total yield exceeded 24%.Integrating BUIDL as collateral helped...

Disclaimer: The analyst who wrote this piece owns shares of Strategy (MSTR)Strategy (MSTR) has purchased 7,390 BTC for approximately $764.9 million at an average price of $103,498 per bitcoin, according to a filing on Monday.This latest acquisition increases the company’s total bitcoin holdings to 576,230 BTC, now valued at roughly $59 billion based on the current market price of around $103,000 per bitcoin. The average purchase price of Strategy’s entire bitcoin position now stands at $69,726The purchase was financed through an at-the-market (ATM) offering of its Class A common stock, as well as the issuance of Series A STRK preferred stock. Between May 12 and May 18, Strategy raised $705.7 million from the sale of common stock and issued 621,555...

Dubai's crypto regulator Virtual Asset Regulatory Authority (VARA) has updated its rulebook for digital asset trading. The emirati regulator has introduced greater leverage controls and collateralization requirements through provisions in its Broker-Deal and Exchange Rulebooks. This will help VARA's rules to align with global risk standards, the regulator said in an emailed announcement on Monday.VARA has also introduced sections of its rulebook to properly oversee areas of the crypto industry that were previously lightly regulated, such as broker-dealers and wallets.The rules previously laid out by VARA have helped establish the city as a crypto hub, winning praise from crypto companies for being reasonably clear in their requirements to operate there. Major exchanges such as Binance, Crypto.com and OKX have...