Coindesk

EToro could set pricing on its initial public offering (IPO) at a much higher level than the marketed range, people familiar with the matter told Bloomberg.The company planned to offer 10 million shares for $46 to $50 each, based on a previous filing, but received significantly more demand than shares available, according to the story.The IPO is set to price after the U.S. market-close on Tuesday.As with some others, the Israel-based company had paused its plans to list on the Nasdaq exchange in April amid shaky markets resulting from U.S. President Donald Trump’s trade policies. Last week, however, Bloomberg reported that it was proceeding with its IPO, becoming the first firm to resume going public plans. Among others delaying IPOs...

Andrew Peel has left his role as Morgan Stanley’s (MS) head of digital asset markets to launch a crypto investment and tech firm in Zug, Switzerland, Bloomberg reported Tuesday.The venture will focus on tokenized funds and trading tools bridging traditional finance and DeFi, according to Bloomberg.Peel, a former Credit Suisse trader who joined Morgan Stanley in 2018, stepped down in March and plans to start fundraising soon, according to the story.His exit comes as Morgan Stanley readies retail crypto trading on E*Trade next year, according to a report earlier this month, expanding beyond the bitcoin fund access it launched for institutions in 2021.Wall Street’s digital asset push is accelerating amid shifting U.S. policy and rising interest in tokenized funds from...

Within a decade, bitcoin will replace U.S. dollar dominance and become the standard currency underpinning the international economy, according to billionaire venture capitalist Tim Draper.“10 years, something like that. It may be a little less,” Draper said in a wide-ranging Spotlight interview with CoinDesk. Draper reiterated his prediction that bitcoin will rise to $250,000 by the end of 2025, and that after a decade it will be “infinity against the dollar because there won’t be a dollar.”“Once I can buy my food, my clothing, my shelter, pay my taxes, all in Bitcoin and it's a better way to collect taxes. For sure, there won't be any reason to hold onto any and bitcoin will be the primary source of owning...

GFO-X has debuted its Financial Conduct Authority (FCA)-regulated crypto derivatives platform, the U.K's first such trading venue for digital assets. The new platform executed its first trade on Tuesday between financial institutions Virtu Financial and IMC, and was cleared by DigitalAssetClear, GFO-X announced on Tuesday.DigitalAssetClear, created by London Stock Exchange Group (LSEG) subsidiary LCH, is a service for cash-settled bitcoin index futures and options contracts.GFO-X is also supported by major banks ABN AMRO, Nomura and Standard Chartered, who are providing clearing for transactions on the platform.The U.K.'s FCA lifted its ban from 2020 on crypto derivatives instruments for institutional investors in March 2024. This was followed by the London Stock Exchange saying it would accept application for cryptocurrency exchange-traded notes...

Dubai agreed to allow cryptocurrency payments for government services in a deal with crypto exchange Crypto.com, taking a step toward implementing its plan for a cashless society.Once technical details are complete, the agreement will allow individuals and businesses to pay fees using digital wallets from Crypto.com, which is licensed by the emirate's Virtual Assets Regulatory Authority (VARA). The platform will then convert the amounts into dirhams for payment, according to a Monday press release.The agreement allows the government "to harness financial technology in launching a new digital payment channel on the government’s digital portals," it said in the release. The cashless strategy is expected to add at least 8 billion dirhams ($2.2 billion) annually to the economy.Dubai has been building...