Coindesk

Crypto exchange Coinbase (COIN) said it will introduce free conversions between PayPal’s dollar-pegged stablecoin, PYUSD, and the U.S. currency in a move aimed at accelerating the shift toward on-chain payments.The move, open to both retail and institutional customers, is part of a partnership aimed at promoting PYUSD as a payment currency. Coinbase also plans to use its platform to offer PYUSD to PayPal’s extensive network of merchant partners, which could ease the use of stablecoins in everyday transactions.Stablecoin rivalry heats upStablecoins — digital tokens pegged to traditional currencies, predominantly the dollar — are one of the fastest-growing sectors in crypto. They are marketed as a faster and cheaper alternative to legacy payment systems, and are increasingly popular for payments across...

In today’s crypto for advisors, Dovile Silenskyte from WisdomTree talks about the growth of crypto products and how they’ve evolved into a strategic investment allocation.Then, Kim Klemballa from CoinDesk Indices answers questions about digital asset benchmarks and trends in Ask an Expert.– Sarah MortonUnknown block type "divider", specify a component for it in the `components.types` optionYou’re reading Crypto for Advisors, CoinDesk’s weekly newsletter that unpacks digital assets for financial advisors. Subscribe here to get it every Thursday.Unknown block type "divider", specify a component for it in the `components.types` optionThe Evolution of Crypto Products — From Speculative Bets to Strategic AssetsCrypto is no longer the “Wild West” of investing. Once dismissed as mere speculative bets, digital assets have matured into a...

TON Foundation, the entity behind the Telegram-linked TON blockchain, has appointed Maximilian Crown, co-founder of MoonPay, as its CEO.Crown was the CFO and COO at the crypto infrastructure provider and has relationships with banks, payments companies, and regulatory bodies. He will remain on the board at MoonPay.The move comes one month after the TON Foundation announced that it had received $400 million worth of investment from venture capitalist firms that purchased the TON token.Active users on the TON blockchain jumped from 4 million to 41 million in the past year. However, the TON token, is down by 46% in the same period. It aims to onboard 30% of Telegram's active users to the blockchain by 2028. “TON’s speed, scalability, and...

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.The CoinDesk 20 is currently trading at 2687.87, down 1.3% (-36.46) since 4 p.m. ET on Wednesday.Two of 20 assets are trading higher.Leaders: POL (+9.1%) and SUI (+1.9%).Laggards: UNI (-3.8%) and BCH (-3.0%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link

Americans reported a record $9.3 billion in losses to cryptocurrency-related crimes in 2024, according to a report by the Federal Bureau of Investigation's (FBI) Internet Crime Complaint Center (IC3). The losses represent a 66% jump from 2023 and highlight the growing use of digital assets in online fraud schemes.The annual IC3 report says nearly 150,000 complaints linked to crypto, with investment fraud leading the way. In these schemes, scammers often pretend to offer high returns on fake cryptocurrency platforms, coaxing victims to transfer funds that are then siphoned away.The FBI also spotlighted “pig butchering” scams, where fraudsters build online relationships before pushing fake crypto investments. Crypto investment schemes led to $5.8 billion in losses, while the second-largest category by losses...