Coindesk

Crypto stocks suffered a red day on Friday, especially bitcoin BTC treasury companies such as Strategy (MSTR) and Semler Scientific (SMLR) — each down roughly 6% even as bitcoin slipped only a bit more than 2%. Japan-listed Metaplanet is lower by 24%.The price action comes amid a continuing debate taking place on social media about the sustainability of Michael Saylor’s (and those copycatting him) bitcoin-vacuuming playbook.“Bitcoin treasury companies are all the rage this week. MSTR, Metaplanet, Twenty One, Nakamoto,” said modestly well-followed bitcoin twitter poster lowstrife. “I think they're toxic leverage is the worst thing which has ever happened to bitcoin what bitcoin stands for.”The issue, according to lowstrife, is that the financial engineering that Strategy and other BTC...

Crypto traders betting on a steady bitcoin BTC rally got a sharp reminder of headline risk from Donald Trump's latest tariff threats.Over $300 million worth of leveraged derivatives positions were liquidated across centralized exchanges in the past four hours, according to CoinGlass data, as crypto prices plunged following the news.Nearly all liquidations came from long positions—traders betting on higher prices. BTC longs accounted for $107 million of the total, while Ethereum's ether ETH followed with close to $87 million. Other tokens, including Solana's SOL SOL, dogecoin DOGE, and SUI SUI saw liquidations ranging between $10 million and $18 million."Nice aggregate flush of long leverage and de-risk selling from spot," well-followed crypto trader Skew noted in an X post early Friday....

Medical equipment company Semler Scientific (SMLR) announced its third-largest bitcoin BTC purchase since adopting a bitcoin standard roughly one year ago.The company in the ten days ending May 22 acquired 455 BTC for $50 million, averaging $109,801 per bitcoin. This acquisition, funded through its at-the-market (ATM) equity offering program, brings Semler’s total holdings to 4,264 BTC, purchased for $390 million and currently valued at more than $450 million.To date, the company has issued 3,003,488 shares under its April 15 $500 million ATM program, raising $114.8 million.Now roundly used as a key performance indicator by most companies adding bitcoin to their balance sheet, Semler's BTC Yield, has risen to 25.8% in 2025. BTC Yield measures the year-to-date percentage change in...

By James Van Straten (All times ET unless indicated otherwise)Bitcoin BTC is climbing up the asset ranks. The rally that this week took it to new highs has lifted its market capitalization to $2.2 trillion for the first time.It's already overtaken Amazon (AMZN) and Google (GOOG) to become the world's fifth-largest asset and now sits behind iPhone maker Apple (APPL), software developer Microsoft (MSFT) and chipmaker Nvidia (NVDA), all of which are valued at over $3 trillion. Way ahead is hard-to-produce, store-of-value gold at an estimated $22 trillion. Bitcoin’s No. 5 ranking reflects its growing status among traditional and institutional investors and comes as market sentiment turns decisively bullish, with strong buying action across all investor cohorts —from whales to...

Hyperliquid’s native token, HYPE, jumped 15% on Thursday, outperforming the broader crypto market, after the team said it submitted formal responses to the U.S. Commodity Futures Trading Commission (CFTC) regarding proposed regulation of perpetual swaps and 24/7 crypto trading.In an X post early Friday, Hyperliquid Labs said it filed two comment letters supporting the CFTC’s proactive stance and urging regulators to embrace decentralized finance (DeFi) frameworks as a path to building safer, more efficient financial products.The submission marks a rare instance of a DeFi-native protocol engaging directly with U.S. regulators, signaling both rising maturity in the sector and growing urgency around shaping favorable policy frameworks.“We believe that Hyperliquid exemplifies how core DeFi principles can be put into practice to enhance...