Coindesk

A report by Solidus Labs has revealed the alarming scale of fraudulent activity on the Solana blockchain, with 98.6% of tokens launched on Pump.fun being chalked down as rug pulls or pump-and-dump schemes.More than seven million tokens have been issued on Pump.fun since its inception in January 2024, with just 97,000 of those maintaining at least $1,000 in liquidity, the report added.Pump.fun is a token creation platform that lets users issue new crypto tokens on the Solana blockchain at a very low cost.The largest rug pull Solidus Labs identified over the time period was worth $1.9 million and was related to MToken.Whilst the crypto industry has progressed and moved on following the spectacular implosion of FTX, hacks and scams are...

A Sei Network developer proposed to depreciate the blockchain’s Cosmos support on Wednesday in a bid to remove “unnecessary” complexity for users.The proposal, if successful, will make it so Sei users will only be able to send and receive transactions that are compatible with Ethereum.Cutting Cosmos support will significantly simplify the blockchain, reduce infrastructure overhead, and position Sei more strongly within the broader Ethereum ecosystem, Philip Su, Sei Labs’ Engineering Lead, said in the proposal.“This transition will lead to greater adoption, improved developer experience, and a more cohesive community,” he said.The move comes as blockchain infrastructure builders compete to draw in developers and expand their orbits.Ethereum-based infrastructure, which runs on software called the Ethereum Virtual Machine, or EVM, is what...

Hidden Road, a prime broker that focuses on crypto and traditional assets, which recently agreed to be acquired by Ripple, is opening an office in Abu Dhabi, according to two people with knowledge of the matter. The office will be led by James Stickland, a partner at the firm, said the people, who spoke on condition of anonymity because the matter is private.Hidden Road confirmed the plans. The company has received in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of ADGM, Hidden Road said in a press release shared with CoinDesk on Thursday.A member of the Abu Dhabi royal family could potentially join the board of the company's local entity when it receives final regulatory approval, one of...

Bitcoin (BTC) flirted with $100,000 Thursday as major cryptocurrencies including dogecoin (DOGE) and Cardano’s ADA led crypto market gains, boosted by dovish signals from the Federal Reserve and a pending trade deal teased by U.S. President Donald Trump.DOGE added 5% and ADA jumped 4%, while ether (ETH), BNB Chain’s BNB, xrp (XRP) and Solana’s SOL gained 2%-3%. The broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens, rose 2.2%.In a social media post late Wednesday, Trump said the U.S. will unveil a “big” trade deal with a “highly respected country” at a press conference slated for 10 a.m. ET. Bloomberg, the Financial Times and New York Times all identified the country as the U.K.The announcement would mark the...

Arthur Hayes has a message for crypto investors and bitcoin (BTC) HODLers obsessing over Federal Reserve policy as the U.S. and China inch toward a trade deal: You're watching the wrong institution.“The real show is at the Treasury Department. Ignore the Fed. It doesn’t matter,” Hayes told CoinDesk in a recent interview. “Powell didn’t matter in 2022 under a Democratic regime, and he doesn’t matter now under a Republican one.”For Hayes, the Federal Reserve has become a sideshow. The real monetary lever-pulling, he argues, is happening under Treasury Secretary Scott Bessent, who is quietly reshaping global liquidity with buybacks and auction strategies designed to manage a ballooning U.S. debt load.That flood of liquidity, paired with America’s inability to rein in...