Coindesk

The U.S. Securities and Exchange Commission (SEC) likely doesn’t have jurisdiction over many of the memecoins flooding the crypto market, SEC Commissioner Hester Peirce said in a Tuesday interview with Bloomberg.“We always have to look at the facts and circumstances, but many of the memecoins that are out there probably do not have a home in the SEC under our current set of regulations,” Peirce said. “If that’s something Congress wants to address, they can do that. Maybe that’s something that the wants to address. But many of those, I think, are probably not within our jurisdiction.”Memecoins, unlike cryptocurrencies like bitcoin and ether, have no inherent value. For years, many in the industry have pushed back on regulating them...

President Donald Trump is just about done naming the key figures he's seeking to get into financial regulation posts that will direct the future oversight of the crypto industry, now including lawyer Jonathan Gould as a nominee to run the Office of the Comptroller of the Currency that oversees U.S. national banks.With a widely circulated White House nominations document showing Trump has settled on Gould, a partner at law firm Jones Day who was a top lawyer at the OCC and a former crypto executive, and the president will reportedly nominate the Federal Deposit Insurance Corp.'s Jonathan McKernan to run the Consumer Financial Protection Bureau, the slate is almost clear.Gould had briefly worked as the chief legal officer for blockchain...

Franklin Templeton has made the OnChain U.S. Government Money Market Fund (FOBXX), the third-largest tokenized money market fund, available on Solana in another signal of growing interest in the blockchain.The fund is already available on Ethereum, Coinbase’s Base, Aptos and Avalanche, which were all added last year. The Stellar network functions as the primary blockchain. The asset manager announced the expansion on Wednesday.Solana has emerged as the leading venue for new tokens (mostly memecoins) and decentralized trading. It now accounts for over 90% of all new tokens appearing on decentralized exchanges (DEX), according to a Pantera Capital report. That's up from 1% in late 2023.“Even when innovation doesn’t start on Solana, it eventually finds its way there,” Cosmo Jiang and...

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 3136.62, down 0.6% (-20.46) since 4 p.m. ET on Tuesday.Six of 20 assets are trading higher.Leaders: APT (+1.8%) and DOT (+1.7%).Laggards: LTC (-4.7%) and HBAR (-3.9%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link

The fourth quarter was a good one for crypto and Wall Street analysts expect leading U.S. exchange Coinbase (COIN) to have posted a big jump in earnings from the prior three months.Revenue for the fourth quarter is expected to have been $1.8 billion, according to FactSet, up from $1.26 billion in the third quarter. Earnings-per-share are estimated to have risen to $1.99 from $0.41.Maybe more importantly, thanks to the major rally across crypto following Donald Trump's presidential election victory, analysts expect exchange volume to have risen to $195.9 billion in the year's final three months from $185.3 billion in the third quarter. That $195.9 billion figure would be the strongest quarterly result since the fourth quarter of 2021.“We maintain our...