Coindesk

As traditional gold markets heat up, crypto investors are following suit—flocking to tokenized versions of the precious metal that offer both price exposure and digital flexibility.Gold-backed cryptocurrencies like Paxos Gold (PAXG) and Tether Gold (XAUT) have risen 24.15% and 23.7% respectively year-to-date to new all-time highs above $3,300, roughly matching the performance of spot gold. Their prices have since receded slightly to $3,265 and $3,244, respectively.While gold-backed cryptocurrencies surged so far this year, the wider cryptocurrency market has been in a downtrend. Bitcoin (BTC) has lost more than 11% of its value so far this year, while the wider crypto market has fallen by a little over 30%, based on the CoinDesk 20 (CD20) index.The tokens, which are backed by...

Bitcoin (BTC) proponent Michael Saylor has hinted the company he co-founded, Strategy (MSTR), may be set to announce an additional BTC purchase this week shortly after revealing it expects a net loss in the first quarter of the year over unrealized losses on its massive BTC holdings.The company has added 80,785 BTC to its balance sheet since the beginning of the year after raising a total of $7.69 billion during the first quarter, with over half of that coming from common stock sales. Most, if not all, of those funds were used to buy bitcoin.On Sunday, Saylor posted a BTC holdings tracker to X, a move that typically precedes a purchase announcement, commenting there are “no tariffs on orange dots.”...

The Trump administration’s exemption on tariffs for electronics may be short-lived.Commerce Secretary Howard Lutnick said Sunday that the White House’s decision to exempt items like smartphones, computers, and other consumer electronics from steep tariffs earlier this month was only temporary.A new set of duties focused on semiconductors is expected within “a month or two,” he said.“All those products are going to come under semiconductors, and they're going to have a special focus type of tariff to make sure that those products get reshored,” Lutnick said during an interview on ABC’s This Week.The goal, he added, is to encourage chip and flat panel production in the U.S. and reduce dependence on Asian manufacturing. The clarification follows a bulletin from U.S. Customs...

JPMorgan Chase CEO Jamie Dimon is bracing for a disruption in the near $30 trillion U.S. Treasury market — one he says could force the Federal Reserve to step in, just as it did during the early days of the COVID-19 pandemic.“There will be a kerfuffle in the Treasury markets because of all the rules and regulations,” Dimon said in a Friday earnings call, warning that the Fed won’t act until “they start to panic a little bit."Dimon's comments come as bond yields spike and market volatility rises. The rising yields have suggested investors are pulling back from popular trades that exploit gaps between Treasury prices and futures, adding stress to a market already rattled by trade tensions under the...

Luxor Technology wants to make bitcoin mining easier. That’s why the firm has rolled out a panoply of products (mining pools, hashrate derivatives, data analytics, ASIC brokerage) to help bitcoin miners, large and small, develop their operations.Aaron Forster, the company’s director of business development, joined in October 2021, and has seen the team grow from roughly 15 to 85 people in the span of three and a half years.Forster worked a decade in the Canadian energy sector before coming to bitcoin mining, which is one of the reasons why he’ll be speaking about the future of mining in Canada and the U.S. at the BTC & Mining Summit at Consensus this year.Follow full coverage of Consensus 2025 in Toronto May...