Coindesk

Ondo (ONDO) ONDO rose 1.5% to $0.7671 over the past 24 hours, holding near recent highs after a week of gains, according to CoinDesk Research's technical analysis model. The move comes roughly two weeks after Ondo Finance disclosed a new industry collaboration focused on setting standards for tokenized securities.In a June 17 blog post, the firm announced the creation of the Global Markets Alliance, a group of wallets, exchanges, and custodians working together to improve interoperability, investor protections, and access to tokenized real-world assets. Participants include the Solana Foundation, BitGo, Fireblocks, Jupiter, 1inch, Trust Wallet, Bitget Wallet, Rainbow Wallet, and Alpaca.The announcement comes ahead of Ondo’s planned launch of Ondo Global Markets, a platform aimed at allowing crypto wallets and...

Shares of Nasdaq-listed cryptocurrency exchange Coinbase (COIN) rose 43% this month, making the firm the top performer in the S&P 500 since it joined the index at the end of last month.June’s run is already the stock's best since November and caps three straight monthly gains. Coinbase’s shares reached their highest level since their public debut.COIN hit a $382 high this week before enduring a slight correction, ending the week at $353 and seeing a slight 0.7% drop in after-hours trading to $351.The wider S&P 500 index rose roughly 5% in June as geopolitical tensions eased.Washington’s progress on the GENIUS Act, Congress’s first rulebook for dollar-pegged stablecoins, helped shift investor focus from trading fees to stablecoin revenue.The bill brightened the...

Robinhood (HOOD) has introduced micro futures on bitcoin (BTC), solana (SOL) and XRP in the United States., expanding its existing crypto futures offering for its nearly 26 million funded accounts.Micro contracts need far less collateral than full-size futures, letting traders take directional positions while committing a smaller slice of capital.The contracts offer traders more flexibility to bet on a cryptocurrency’s future price direction or hedge current positions given their smaller size.The launch rounds out a futures suite that began with BTC and ETH in January. It also comes weeks after the firm closed its $200 million purchase of Bitstamp and finalized a $179 million deal for Canada’s WonderFi.Robinhood’s data shows that crypto notional volumes have exploded upward over time, reaching...

XRP climbed 5.5% to $2.19 in the last 24 hours after a trio of catalysts converged to help the cryptocurrency outperform the wider cryptocurrency market.One of the catalysts was launch of XRP micro futures on Robinhood. The contracts offer traders more flexibility to bet on the cryptocurrency’s future price direction or hedge current positions given their smaller size.Regulatory fog also thinned. On Friday, Ripple withdrew its cross-appeal in its long-running U.S. Securities and Exchange Commission (SEC) lawsuit. The SEC sued Ripple back in 2020 over its XRP sales, alleging these violated securities laws. The SEC is expected to drop its own appeal, leaving last year’s ruling, ordering Ripple to pay a $125 million civil penalty to the SEC, intact. The...

The years-long legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) appears to have finally come to an end, after Ripple Labs CEO Brad Garlinghouse announced Friday that the company plans to drop its cross-appeal in the case.“Ripple is dropping our cross appeal, and the SEC is expected to drop their appeal, as they’ve previously said,” Garlinghouse wrote on X. “We’re closing this chapter once and for all, and focusing on what’s most important – building the Internet of Value. Lock in.”XRP climbed a modest 1.4% on the news.The decision comes just a day after U.S. District Judge Analisa Torres of the Southern District of New York (SDNY) rejected a joint request from the SEC and Ripple...