Coindesk

Novel decentralized finance (DeFi) protocol Neutrl aims to bring a hedge fund trade — once limited to sophisticated investors — to the masses in the form of a crypto token.The protocol is launching its NUSD "synthetic dollar" token, designed to generate returns by arbitraging discounted altcoin deals in over-the-counter (OTC) markets, the team told CoinDesk in an exclusive interview.Neutral also raised $5 million in seed funding led by digital asset private marketplace STIX and venture firm Accomplice. They were joined by Amber Group, SCB Limited, Figment Capital and Nascent alongside a range of crypto angel investors including Ethena founder Guy Young and derivatives trader Joshua Lim of Arbelos Markets, recently acquired by FalconX.Tokenized hedge fund strategyNeutrl is the latest entrant...

Crypto exchange Coinbase (COIN) is facing a weaker outlook as uncertainties introduced by President Donald Trump’s on-and-off tariff threats cast a shadow over retail crypto activity, analysts at Oppenheimer wrote in a report.The investment bank cut its full-year trading volume forecast by 19% to $1.3 trillion and its first-quarter estimate to $380 billion, down 13% from the previous quarter as the appetite for risk declined.Despite a generally more supportive tone from Washington — with pro-crypto signals from the White House, Congress and regulators — the analysts said the market hasn't fully embraced the shift.“Since the election, we have seen the most pro-crypto President, Administration, Congress, regulators, executive orders, and SEC statements, that are meant to signal to the world that...

Real-world asset project Mantra plans to create a comprehensive burn program for its OM token, CEO John Mullin said in an X post Wednesday.Mullin was responding to a post which said he was planning to burn his team's tokens to win back the trust of the community after OM abruptly lost over 0% of its value on Tuesday."To be 100% clear, I am stating that I am burning MY team tokens, and we will create a comprehensive burn program for other parts of the OM supply," he wrote.Token burns refer to the process of permanently removing a proportion of a cryptocurrency's supply from circulation in order to increase the value of the tokens that remain.OM fell from over $6 to...

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 2428.16, down 1.0% (-25.41) since 4 p.m. ET on Tuesday.One of 20 assets is trading higher.Leaders: AAVE (+0.2%) and BTC (-0.1%).Laggards: AVAX (-2.1%) and BCH (-2.1%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link

Resolv Labs, the firm behind the $450 million decentralized finance (DeFi) protocol Resolv, has closed a $10 million seed round to expand its crypto-native yield platform and USR stablecoin, the team told CoinDesk in an exclusive interview.The investment round was led by Cyber.Fund and Maven11, with additional backing from Coinbase Ventures, Susquehanna's subsidiary SCB Limited, Arrington Capital, Gumi Cryptos, NoLimit Holdings, Robot Ventures, Animoca Ventures and others.Stablecoins, a $230 billion and rapidly expanding class of cryptocurrencies with pegged prices to an external asset, are capturing attention well beyond their traditional use in payments and trading. A growing cadre of crypto protocols offer yield-bearing stablecoins or "synthetic dollars," wrapping diverse investment strategies into a digital token with a stable price and...