Coindesk

The U.K.'s crypto industry has just over 12 months to prepare for an even stricter regulatory regime, a senior official with the country's finance regulator said.Matthew Long, director of payments and digital assets at the U.K.'s Financial Conduct Authority (FCA), told CoinDesk in an interview that the "impending gateway regime" that is earmarked for 2026 will in fact be a new authorization regime for crypto companies."We will have a gateway which will allow authorization. But obviously we've got to go through those consultations, create those rules and get the legislation for that to take place," Long said.This regime will be a leap from the current anti-money laundering (AML) one. Firms like crypto exchanges Coinbase, Gemini and Bitpanda will move away...

Artificial intelligence-focused firm CoreWeave raised $1.5 billion for its initial public offering (IPO), valuing the company at roughly $23 billion, Bloomberg reported on Thursday night, confirming earlier reports that it had downsized its IPO.The cloud provider sold 37.5 million shares at $40 each. It had initially planned to sell 49 million shares at $47 to $55 each, but a weaker-than-expected stock market posed difficulties for the company.The company initially sought to raise $4 billion at a $35 billion valuation, reporting $1.9 billion in revenue last year but still seeing a net loss of nearly $900 million.AI powerhouse Nvidia, an investor in CoreWeave, is anchoring the IPO with a $250 million order, Bloomberg reported, citing a person familiar with the matter.CoreWeave...

The Sei Foundation, the nonprofit development organization behind the layer-1 blockchain Sei (SEI), is exploring the acquisition of bankrupt personal genomics company 23andMe and putting the genetic data of 15 million users on blockchain rails. The foundation announced the initiative in an X post on Thursday, calling the plan its "boldest DeSci bet yet" — referring to the decentralized science movement. Earlier this year, it also launched a $65 million venture capital fund dedicated to DeSci startups building on the Sei network.The foundation said that genomic data security is a national security matter, particularly as 23andMe grapples with financial difficulties. The company, known for its direct-to-consumer DNA testing services, filed for Chapter 11 bankruptcy protection earlier this week.If the acquisition...

In the beginning, there were only CPUs, then GPUs, for bitcoin mining. Then came the mighty ASIC in 2013, and with it, the “shoebox” form factor that has become emblematic of the bitcoin mining industry.What comes next? Will the shoebox design persist as standard for bitcoin mining ASICs? Or will another form factor that more resembles traditional datacenter servers win out?ASIC manufacturers are increasingly betting on the latter – or at least, that a hydro-cooled server rack design will become a substantial portion of bitcoin mining fleets. Moreover, they’re leaning into the “direct-to-chip” cooling for further efficiency gains.Last September, Bitmain announced its model U3S21EXPH (a bit of a mouthful, eh?) developed in a partnership with Hut 8. Its U3 design...

Paul Atkins, the former member of the U.S. Securities and Exchange Commission that President Donald Trump has tapped to run the agency, assured a different direction for the agency on crypto from the last four years, though he wasn't pressed with big-picture digital assets questions during a Thursday confirmation hearing.Now that Trump has secured the cabinet-level echelon of his government, the White House is working on shepherding top agency chiefs through the Senate confirmation process. While many of the crypto headlines are coming from the administration and Congress these days, those running the regulatory agencies will ultimately be the ones writing the regulations the industry will have to conform with.Atkins is seeking to be the successor of ex-Chair Gary Gensler,...