Coindesk

Mantra, the real-world asset tokenization platform whose OM token crashed earlier this month, is pushing to burn as much as 16.5% of its total supply valued about $160 million to boost staking rewards after talks with key partners.The proposal to burn as many as 300 million of its 1.8 billion tokens will drop the bonded ratio from 31.47% to 25.30%. It includes a confirmed tranche of 150 million OM, or about $80 million, belonging to founder John Patrick Mullin and an additional set of tokens owned by “ecosystem partners.” Specifics were not shared in a Monday update.Mullin’s tokens are part of his team allocation that were staked when the network first started in October 2024. The burn process, which requires...

Bitcoin (BTC) held steady above $88,000 early Tuesday as the Japanese yen crossed the psychological level of 140 against the U.S. dollar, as tariff concerns and risks of a Federal Reserve chairman shuffle in the states broadened the appeal of safe-haven assets.Yen rose nearly 1% to 139.93 against the dollar, its strongest level since September. Gold surged to fresh highs at $3,494 per ounce in Asian morning hours.Per reports, Trump is blaming the Fed for the economic fallout from the trade war if the central bank doesn’t cut rates soon — and firing the chief usurps the appearance of independence the Federal Reserve currently enjoys.BTC added just over 1% to continue a steady rise since Sunday. Ether (ETH), Cardano’s ADA,...

Mike Novogratz's Galaxy Digital has apparently swapped $100 million worth of ether (ETH) for solana's SOL.According to Wu Blockchain, on-chain data suggests that Galaxy has swapped out a considerable amount of its ETH holdings for SOL. Over the last two weeks, Galaxy has transferred 65,600 ETH – or about $105 million – to Binance and has withdrawn 752,240 SOL (approximately $98.37 million).Galaxy may have made the move because ETH continues to be in "structural decline" according to a recent note from Standard Chartered, which slashed its year-end target price for the asset.Data from an Arkham dashboard shows that the firm holds $87.9 million ETH versus $23.86 million SOL.Galaxy did not immediately return a request for comment from CoinDesk.Market data shows...

Bitcoin is the crypto sector's top asset and is also universally defined by U.S. regulators and courts as a commodity, putting it under the jurisdiction of the Commodity Futures Trading Commission. That agency is now seeking public comments on whether it should open the wider world of derivatives to around-the-clock trading, as already executed for bitcoin and other digital assets.Though the CFTC is expected to be established as a crypto market regulator in Congress' ongoing effort to establish industry rules, the agency's invitation for comments issued on Monday doesn't explicitly discuss digital assets oversight. The request notes that "technological advancements and market demand" are pushing CFTC-regulated firms toward being able to handle transactions at all times. “As I have long...

The week has begun on an interesting note, with the U.S. dollar crashing to three-year lows alongside losses on Wall Street, yet bitcoin, which usually follows the sentiment on Wall Street, stands tall.This could just be the beginning. The shift away from the USD and toward seizure and censorship-resistant assets like BTC and stablecoins could accelerate if President Donald Trump follows through with his reported plans to fire Federal Reserve Chairman Jerome Powell, which have pushed the DXY and U.S. stock markets lower today.That's the lesson from Turkey, which has seen its currency, the lira (TRY), collapse over the years mainly due to President Recep Tayyip Erdogan's repeated interference in the central bank's operations. The sliding lira has triggered a...