Coindesk

Avalanche’s native token AVAX surged more than 6% in the last 24 hours, outpacing the broader crypto market as measured by the CoinDesk 20 (CD20) index, which rose 0.8% in the same period.AVAX’s price may have rebounded from political jitters and moved on the back of major developments in real-world asset (RWA) tokenization and institutional adoption.The token climbed from a low of $19.37 to $20.96, recovering from a wider market sell-off triggered by growing tensions between U.S. President Donald Trump and Tesla CEO Elon Musk earlier this week, which saw the former threaten to terminate government contracts for the latter, who in turn accused the president of being implicated in the Jeffrey Epstein files.The token rebounded after showing multiple signs...

Eric Trump said that World Liberty Financial, the decentralized finance project with ties to the Trump family, plans to acquire a "substantial position" in the TRUMP memecoin for its long-term treasury as it “aligns” with the project.The announcement, posted to X on Friday, framed the move as part of a shared vision for “crypto, patriotism and long-term success.”While few concrete details were provided, the commitment suggests an effort to bring a veneer of institutional weight to a token that, like most memecoins, trades largely on attention and branding.It’s unclear how much capital the firm plans to commit. Other holdings in its portfolio include major altcoins like ether ETH, bitcoin BTC, and TRX TRX, along with some stablecoins.The project has nevertheless...

Korea's new President, Lee Jae-myung, has appointed the CEO of Hashed Research, Kim Yong-beom, to be the Chief Policy Officer of Korea's Presidential Office.Before leading Hashed Research, crypto fund Hashed's think tank, Kim was the Vice Minister of Economy and Finance during the Moon Jae-in administration.In a previous interview with CoinDesk, Simon Kim, the CEO of Hashed, stated that the Lee administration will be crypto-friendly and that local regulators are closely monitoring crypto policy developments in the U.S with an aim to emulate them.One of the first policy initiatives Kim Yong-beom might be working on is a Won-based stablecoin, which was identified by newly elected President Lee as a priority to "prevent national wealth from leaking overseas."Source link

Gemini Space Station Inc., the crypto exchange and custody platform founded by Cameron and Tyler Winklevoss, has taken a significant step toward becoming a publicly traded company.The firm announced Friday that it has confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC), signaling its intent to pursue an initial public offering (IPO) of its Class A common stock.While specific details around the size and valuation of the offering remain undisclosed, the move positions Gemini among a growing list of crypto-native firms seeking a foothold in traditional capital markets. The crypto exchange has been taking major steps to go public in the U.S., including hiring Goldman Sachs and Citigroup as its financial advisors...

It was a week of fortunes made, and fortunes lost, at CoinDesk.On the one hand, we had Circle, long a leading crypto company, hurtling to IPO and making bank. Its shares were priced at $110 at press time (up from $31 Wednesday), leading many to expect a summer and fall of crypto-themed IPOs. On the other, we saw HyperLiquid trader James Wynn go from having a $100 million BTC position one day to a massive loss the next. (Kids, beware the big, bad leverage monster).Most of the market portents looked good, though. Crypto money-raising season was in full swing.Groups doubled-down on the Bitcoin Treasury Strategy, not least Metaplanet, Japan’s answer to Michael Saylor’s Strategy. Pump.Fun, Solana’s memecoin juggernaut, said it...