Coindesk

Major U.S. banks are weighing launching a joint stablecoin to fend off crypto competition.Financial heavyweights like JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC), have held discussion on the subject, the Wall Street Journal reported, citing people familiar with the matter. The talks are still in early stages and could change, the report added. Within the consortium are also payments ventures owned by these banking powerhouses, like Early Warning Services, which runs Zelle, and The Clearing House, which handles real-time payments.Stablecoins are cryptocurrencies pegged to the value of another asset like a fiat currency or commodity, can settle transactions in a matter of seconds. Banks see potential in them to improve their operations, with international...

Bitcoin BTC has entered a strong accumulation phase across all wallet cohorts for the first time since January, signaling renewed bullish sentiment as the largest cryptocurrency trades above $110,000, an 18% gain over the past month. Glassnode's Accumulation Trend Score has reached its maximum value of 1.0, indicating broad-based, aggressive accumulation by investors irrespective of the amount of BTC they already hold. The metric evaluates the relative strength of buying by different wallet sizes, factoring in both their existing holdings and the amount acquired over the past 15 days. It excludes exchanges and miners to avoid distortion. The latest accumulation wave began in early May, led by whales holding over 10,000 BTC. As the price began to climb, cohorts with...

The last time Justin Sun set foot in the U.S. he was Grenada's WTO ambassador and was navigating the rocky waters of former President Biden's crypto crackdown.Times have changed. Now, he's dining at an event hosted by President Donald Trump for the largest holders of his TRUMP memecoin and celebrating a regulatory breakthrough, as issuers eye a potential Tron ETF, signaling a striking reversal in crypto's American fortunes.Speaking exclusively with CoinDesk after the Presidential dinner, which was met by protestors, the Tron founder dismissed allegations that the token is a vehicle for bribery. He called skeptics short-sighted, arguing Trump's embrace of crypto could spark a new era of digital asset innovation in America."All the haters need to really pay attention,"...

Robinhood has added two Solana-based memecoins, Moo Deng MOODENG and cat in a dog’s world MEW, to its suite of cryptocurrencies available to trade for U.S. customers.Moo Deng, which is based on a baby pygmy hippo, has risen to a $230 million market cap this month after the meme went viral online in 2024. The token skyrocketed over 836% in May and jumped another 21% over the past 24 hours.Cat in a dog’s world, on the other hand, is a token based on cats, which launched in March 2024 as part of a Solana meme coin frenzy. The token stands at a $368 million market cap after its price rose 52% in May. It is up nearly 20% over the...

As spot bitcoin BTC exchange-traded funds continue to grow and Wall Street wades deeper into crypto, more and more people are able to gain exposure to digital assets through their individual retirement accounts (IRAs).IRAs offer tax advantages and a range of investment options, including stocks, real estate, commodities and, increasingly, cryptocurrencies. But when it comes to crypto, there’s usually only one investment strategy available: to buy and hold.It’s a strategy that might work well for assets like the S&P 500, which have long track records of steadily appreciating over longer time frames, but bitcoin is still an extremely volatile asset and other coins even more so.The idea behind BlockTrust IRA, then, is simple: to manage the crypto positions of its...