Coindesk

"Three trillion is like a mag 7 stock, 20 trillion is an asset class,” said Anthony Scaramucci, founder and CEO of SkyBridge Capital. “So if you tell me that bitcoin can get to $500,000, people will be writing stories that bitcoin is an asset class.”That provocative benchmark from Scaramucci set the tone for a spirited conversation at CoinDesk’s Consensus 2025 conference, where he joined Jonathan Steinberg, CEO of WisdomTree; Pasqual St-Jean, President and CEO of 3iQ; and Andy Baehr of CoinDesk Indices to discuss whether crypto, particularly bitcoin BTC, has finally become a bona fide asset class.While panelists largely agreed that crypto is getting there, they emphasized that the path to institutional validation requires more than just price appreciation.Bitcoin Leads...

Global economic uncertainties are creating ripple effects across cryptocurrency markets, with Cardano (ADA) demonstrating notable volatility amid shifting investor sentiment. After rallying 22% weekly, ADA has established a trading range between $0.795 and $0.841, reflecting both profit-taking and strategic accumulation by larger investors. Recent developments have strengthened Cardano's market position, particularly its addition to Grayscale's Digital Large Cap Fund and integration with Brave browser's wallet system. These partnerships have significantly expanded ADA's potential user base, with the Brave integration alone connecting Cardano to over 86 million users worldwide. Market data shows institutional involvement has intensified, with on-chain analytics revealing holders controlling between 100 million and 1 billion ADA accumulating over 40 million tokens in just two days. This whale activity...

JPMorgan (JPM) took its first step onto a public blockchain network through its Kinexys Digital Payments platform, settling a tokenized U.S. Treasury transaction on Ondo Chain’s testnet.The pilot, detailed in a press release shared with CoinDesk, marks the debut of a Delivery versus Payment (DvP) transaction on the testnet, a new layer-1 blockchain designed to support institutional-grade real-world assets.Kinexys, which the release says processes an average of over $2 billion in daily transaction volume, handled the payment leg, while Ondo Finance’s tokenized short-term Treasury fund (OUSG) formed the asset leg. Chainlink Runtime Environment — a system for coordinating cross-chain workflows —secured the settlement across the two networks.This is the first time Kinexys, the Wall Street bank's permissioned network, has...

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 3335.09, down 1.0% (-34.87) since 4 p.m. ET on Tuesday. One of 20 assets is trading higher.Leaders: XRP (+0.9%) and AVAX (-0.1%).Laggards: UNI (-6.8%) and APT (-4.6%). The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link

Hardening government bond yields, especially on U.S. treasury notes, have traditionally been viewed as a headwind for bitcoin (BTC) and other risk assets.However, recent persistent resilience in treasury yields suggests a different story — one driven by factors that could be bullish for bitcoin, according to analysts.The U.S. data released Tuesday showed the consumer price index (CPI) rose 0.2% month-on-month for both headline and core in April, below the 0.3% readings expected. That resulted in a headline year-on-year inflation reading of 2.3%, the lowest since February 2021.Still, prices for the 10-year treasury yield, which is influenced by inflation, dropped, pushing the yield higher to 4.5%, the highest since April 11, according to data source TradingView.The so-called benchmark yield is up...