Coindesk

It was a bad week for crypto prices, with BTC and ETH both falling and the CoinDesk 20, which covers 80% of the market, losing 7% since Monday. But less speculative assets showed plenty of volume. Stablecoins, in particular, were the name of the game this week. The U.S. House introduced a stablecoin bill, following up on the Senate version that was approved by committee last week. Jesse Hamilton reported. Wyoming (aka “The Blockchain State”) wants its own stablecoin and it’s testing the idea on Avalanche, Solana and Ethereum, Kris Sandor reported.World Liberty Financial (WLFI), the financial protocol backed by Donald Trump and his family, confirmed the launch of its stablecoin (USD1) this week. And Don Trump Jr. trumpeted the...

An investment firm with ties to U.S. President Donald Trump’s sons, Eric and Donald Trump Jr., is putting some of its excess cash into a spot bitcoin exchange-traded fund (ETF) — an unusual twist on the increasingly popular strategy of holding bitcoin as a corporate reserve.Dominari Holdings (DOMH), located in the Trump Tower in New York City, made headlines last month after the Trump brothers joined its 58-year-old board of advisors and became investors.In an earnings report on Friday, it announced that it would adopt a bitcoin reserve strategy and invest a portion of its cash reserves into BlackRock’s iShares Bitcoin Trust (IBIT), the largest spot bitcoin ETF on the market.According to the report, Dominari has committed $2 million to...

Is Strategy (MSTR) in trouble?Led by Executive Chairman Michael Saylor, the firm formerly known as MicroStrategy has vacuumed up 506,137 bitcoin (BTC), currently worth roughly $44 billion at BTC's current price near $87,000, in the span of about five years. To the casual observer, the company seems to have a magic, unlimited pool of funds from which to draw on to buy more bitcoin. But Strategy acquired a sizable chunk of its stash by issuing billions of dollars in equity and convertible notes (debt securities which can be converted into equity under special conditions), and more recently via the issuance of preferred stock, a type of equity that provides dividends to investors.However, the price of bitcoin has been pushed down...

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 2616.04, down 4.5% (-123.93) since 4 p.m. ET on Thursday.None of the 20 assets are trading higher.Leaders: BTC (-2.5%) and BCH (-3.6%).Laggards: POL (-8.3%) and SUI (-8.3%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link

Galaxy Digital (GLXY), the Mike Novogratz-led digital asset financial services firm, will pay $200 million as a settlement with the New York Attorney General's (NYAG) office relating to the collapse of the Terra-Luna ecosystem in 2022.The firm will pay $200 million to the State of New York for matters relating to its investment, trading and public statements of LUNA, which collapsed in May 2022, wiping out around $60 billion in value, Galaxy announced on Friday.Galaxy disclosed the settlement as part of its latest earnings statement, which reported profit of $174 million and $365 million for Q4 and the full year of 2024 respectively, when the accrued legal provision for the settlement with NYAG is included.The company has also has entered...