Coindesk

Compute Labs, a startup that turns the industrial-grade GPUs that power AI data centres into fractionalized yield-bearing tokens, and enterprise AI cloud firm NexGen Cloud, have joined forces to begin distributing ownership of a $1 million "public vault," the companies said on Wednesday.The power and profitability of AI infrastructure are largely centralized and generally confined to hyperscalers like AWS or large venture-backed firms. However, Compute Labs is attempting to bring its token holders direct access to the earning potential of enterprise hardware such as NVIDIA H200 GPUs, which would retail at around $30,000 for a single unit."For investors, this pilot represents the first-ever opportunity to earn stablecoin yield directly from live AI compute without having to manage the hardware...

Prenetics Global Limited (NASDAQ: PRE) is the latest firm in the healthcare space to copy MicroStrategy’s $40 billion bitcoin treasury strategy, having acquired its first $20 million BTC investment, with help from global crypto exchange Kraken.There is a surge of bitcoin treasury companies that focus on accumulating bitcoin and following strategies similar to Strategy.Although the Prenetics acquisition is small by comparison to firms spending hundreds of millions of dollars on BTC, the firm said it has board approval to substantially increase its bitcoin holdings and aims to become one of the largest healthcare corporate bitcoin holders globally, in a press statement on Wednesday.“What excites me most is not just Bitcoin as a treasury asset, but the convergence we're witnessing between...

This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.There is an old saying, "Once is a chance, twice is a coincidence, and a third time is a trend."It applies to bitcoin BTC right now. The cryptocurrency's price has fallen back to its 50-day simple moving average (SMA), which offered support on two occasions this month, leading to price bounces.Therefore, the latest re-test of the average presents an opportunity for the bulls to establish a trend in which the 50-day SMA powers new legs higher. Conversely, the fall of the 50-day SMA support could invite stronger selling pressure, potentially leading to a dip below $100,000.At press time, the bear case appears strong due to signs...

By Francisco Rodrigues (All times ET unless indicated otherwise)Bitcoin (BTC) is hovering a smidgen under $105,000 having dropped just 1.4% in the past 24 hours as crypto markets balanced the Israel-Iran war with regulatory progress in the U.S.Tensions in the Middle East are heightening after President Donald Trump called for Iran’s “unconditional surrender” after saying the country’s leader was an “easy target.” Corporate bitcoin buying, however, is underpinning demand, and Senate approval of U.S. stablecoin legislation is seen as a win for the industry.Trump's words helped raise the perceived odds of the U.S. entering the conflict to 62% on prediction market Polymarket , up from around 50% a day ago. The perceived odds of U.S. military action against Iran...

Crypto’s newest memecoin cult is embracing the “useless” narrative given to joke tokens, making it a play that reached a $100 million valuation in recent days.The aptly-named USELESS coin has embraced that narrative and turned it into a rallying cry. The official website mocks the space it inhabits, and people are doing exactly that.“USELESS coin is the greatest memecoin narrative to emerge from the trenches this year,” said Unipcs, one of its biggest backers, in a Telegram chat with CoinDesk. “Every memecoin is technically useless... yet here we are, with one actually called USELESS leading the pack.”As far as skeptics and critics are concerned, all of crypto is useless. USELESS coin taps into that irony to position itself as the...