Coindesk

The Turkish lira (TRY) fell to a record low against the dollar following the surprise arrest of President Recep Tayyip Erdogan's rival and Istanbul mayor Ekrem Imamoglu.The currency slumped a record of nearly 41 per U.S. dollar, a 10% slide on the day. The volatility saw a sharp rise in trading volumes in the bitcoin-lira (BTC/TRY) pair on leading cryptocurrency exchange Binance.Imamoglu's Republican People’s Party (CHP) described the arrest as a coup to replace the will of the people. The party was set to hold a primary election next week, with Imamoglu widely expected to emerge as the presidential candidate.On Binance, the BTC/TRY pair saw 93 BTC change hands between 7:00 UTC and 8:00 UTC, according to data source TradingView. That's the...

The Digital Chamber will elevate Cody Carbone to be its chief executive officer next month, replacing founder Perianne Boring, who is stepping down after a decade atop the oldest U.S. crypto advocacy group.As it prepares for its latest Washington, D.C., blockchain summit next week, the Digital Chamber informed its members that Boring will be moving to chair the organization's board while Carbone — a longtime crypto policy presence — takes over as CEO. The group's transition coincides with the long-awaited shift in the U.S. government from digital assets reluctance to an embrace from President Donald Trump and an enthusiastic Congress."We're no longer in a defensive stance, where we have a government that's essentially trying to shut down the industry," Boring...

A South Korean man who attacked the CEO of collapsed crypto firm, Haru Invest, is now facing a potential decade behind bars, according to local media reports.Prosecutors in Seoul have requested a 10-year prison sentence for someone local media is only identifying by his last name Kang, a man in his 50s who stabbed Haru Invest CEO Lee Hyung-soo during a court hearing last year.Haru Invest paused withdrawals in 2023, citing partner issues, without giving a specific reason, before its executives were arrested in 2024 for allegedly stealing $828 million in customer funds.Kang’s defense argued that he had no intent to kill, noting that he did not target a fatal area and acted in a moment of extreme emotional distress...

As bitcoin (BTC) looks to recover from its recent downturn, observers are looking to Wednesday's Federal Reserve (Fed) rate decision to offer support, with some saying that an announcement to end the balance sheet runoff program, known as quantitative tightening, could be positive news for the market.The Fed will announce its rate review at 18:00 UTC, followed by Chairman Jerome Powell's press conference half an hour later.The bank is unlikely to offer any surprises on the interest rate front, retaining the present range of 4.25% to 4.50%. Therefore, the focus will be on how policymakers plan to proceed with the quantitative tightening program, given the concerns that it could affect liquidity in the system while the Treasury grapples with the...

Solana-based decentralized exchange Raydium is set to start its own token issuance platform in the coming weeks to drive more revenue to the already-popular trading service.Raydium’s native RAY token is up 13% in the past 24 hours, beating a 1.62% gain in the broader market tracked by the CoinDesk 100 (CD100) index.Raydium's LaunchLab will initially resemble the hit token issuance platform Pump.Fun, Blockworks first reported. Though developers say it will have several added features that make it more appealing for token launches.LaunchLab will have three types of bonding curves that match demand and price for a token and will let third-party UIs set their fees. A bonding curve is an automatic system that adjusts prices as tokens are bought or...