Coindesk

Bitcoin BTC notched a new all-time high of $109,000 on Wednesday, but that's small consolation for bitcoin miners, who last month were forced to cash in a record number of their BTC reserves, according to mining news outlet TheMinerMag.The firm’s latest research report reveals that public miners sold 115% of their bitcoin production in April — meaning they sold more than they produced. That is the highest ratio since the tail end of the 2022 bear market.Even today, with bitcoin breaking to a new record high above $109,000, hashprice (what miners earn per unit of computational power) has failed to follow suit. It stands at just $55 per petahash per second (PH/s), well below the $63/PH/s level it briefly reached...

Hong Kong passed a stablecoin bill that will enable the region to establish a licensing regime for fiat-backed stablecoin issuers."Hong Kong’s stablecoins are backed by fiat currency as underlying assets, and we welcome global enterprises and institutions interested in issuing stablecoins to apply in Hong Kong," legislative council member Johnny Ng said on X on Wednesday.Institutions are expected to be able to apply for a license from the Hong Kong Monetary Authority by the year-end.Hong Kong has been working on establishing a stablecoin regime since 2023. The nation had published a consultation paper on stablecoin guidelines towards the end of 2023. It later introduced the Stablecoin Bill, which the Legislative Council of the Hong Kong Special Administrative Region passed in...

Bitcoin BTC became the world’s fifth-largest asset after hitting a new all-time high on Wednesday, which pushed its market cap to $2.16 trillion.Though the crypto’s price consolidated lower after hitting a high of $109,400, its market cap passed Amazon (AMZN), which stands at $2.15 trillion.Bitcoin is up 16.44% year-to-date while shares of the online retailer are down about 8% over the same period. It is currently trading at $108,954.Gold is the largest asset, by far, standing at a $22 trillion market cap, followed by Microsoft (MSFT), NVIDIA (NVDA) and Apple (AAPL) which stand at $3.1 trillion to $3.4 trillion respectively.As a result of the surge in bitcoin’s price since the win of U.S. President Donald Trump, BlackRock’s iShares Bitcoin Trust...

Bitcoin BTC clinched a fresh record price of $109,400, surpassing the peak in January around Donald Trump's inauguration.According to the CoinDesk Bitcoin Index, the largest and oldest cryptocurrency hit $109,486 on Wednesday during the early U.S. session. BTC surged more than 46% from its April trough induced by mounting freas over global trade war and U.S. tariffs.The new all-time high came as spot bitcoin exchange traded funds (ETF) gobbled up $3.6 billion in net inflows in May, a sign of rejuvenated investor interest. A slew of bitcoin-focused treasury companies, including Michael Saylor's Strategy and newly-launched firm Twenty One Capital added to the buying spree, helping lift BTC to a new record.Positive regulatory shifts in the U.S. have further supported the...

Tron founder Justin Sun said he's the top holder of the TRUMP memecoin, entitling him to attend a private dinner and a VIP reception with U.S. President Donald Trump this week.A Solana address apparently associated with Sun holds roughly $21.9 million worth of the TRUMP coin, placing him at the top of the leaderboard in a sweepstakes that rewards the biggest token holders with access to Trump at a golf club near Washington, D.C. The leaderboard appears on a website publicized by Trump on his X account.Sun is also a backer of World Liberty Financial, the decentralized finance project backed by the Trump family, having invested invested $75 million. The project’s co-founder, Zak Folkman, has credited the Chinese-born crypto billionaire...