Coindesk

Global markets are navigating heightened uncertainty following a public spat between U.S. President Donald Trump and Tesla CEO Elon Musk.NEAR Protocol has demonstrated resilience amid this volatility, recovering from a sharp 5.2% decline to establish support at $2.42. The recent price action shows promising signs of accumulation, with increasing volume on the second test of support forming a potential double bottom pattern on short time frames.This technical structure, combined with the successful break above the $2.46-$2.47 resistance zone, suggests buyers are regaining control despite broader market turbulence. NEAR's recovery may indicate growing institutional confidence in blockchain infrastructure projects with real-world utility.Technical AnalysisNEAR-USD exhibited substantial volatility over a 24-hour period, with a range of 0.132 (5.2%) between the high of 2.547...

Yuga Labs CEO Greg Solano filed an Ape Improvement Proposal titled “Sunsetting the DAO and Launching ApeCo” in a pitch to wind down the two-year-old decentralized autonomous organization and pass its assets to a new entity to "supercharge the APE ecosystem.”Solano called the DAO “sluggish, noisy, and often unserious governance theater” that funds “vanity proposals and low-impact initiatives.”A leaner vehicle controlled by Yuga Labs, he argued, can “eliminate gridlock” and push capital only to “high-caliber projects” across three pillars: ApeChain, Bored Ape Yacht Club and Otherside, Yuga’s metaverse bet. Under the plan, ApeCo would first top up the staking contract with 11.25 million APE ($8.3 million), reserve 10 million APE for legal and transition costs, then swallow everything else in the...

XRP XRP climbed 7% over the past 24 hours, rebounding from a steep sell-off to trade at $2.20 after finding support at $2.07.News BackgroundXRP’s week-long price action was influenced by a mix of fundamental developments and market speculation.Ripple recently received approval from Dubai regulators for its RLUSD stablecoin, underscoring the company’s ambition to integrate digital assets into cross-border payment systems.Meanwhile, the market is closely watching for a decision on Franklin Templeton’s proposed spot XRP ETF, expected by June 17. Approval could attract substantial institutional inflows, potentially transforming XRP’s liquidity profile.On the technical front, XRP’s consolidation above its 200-day moving average signals resilience despite broader market volatility.Ripple’s broader strategy — bridging crypto and traditional finance — continues to define XRP’s role...

Taiwan-based crypto exchange BitoPro has confirmed to CoinDesk that it suffered a cyberattack on an old hot wallet in May, resulting in losses of over $11 million. The company said it immediately replenished the stolen funds and moved assets to new wallets to prevent further losses.The breach, which occurred on May 8 during a wallet system upgrade, was first flagged by blockchain sleuth ZachXBT. He revealed that the stolen funds were laundered through decentralized exchanges and privacy protocols before being deposited into Wasabi Wallet, a popular Bitcoin mixer.“BitoPro recently experienced a cyberattack on an old hot wallet during a wallet system upgrade,” the exchange shared with CoinDesk. “Upon detection, we quickly launched an emergency response, securing assets by moving them...

Dogecoin DOGE and Cardano's ADA ADA led the declines on Friday as crypto traders digested mixed macro data and recession concerns sparked by an escalating feud between President Donald Trump and tech titan Elon Musk. DOGE tumbled nearly 7% in 24 hours, while ADA slid 6.5% to reflect a risk-off shift among crypto traders. Bitcoin BTC bounced above $102,000 in Asian morning hours after falling to near $101,000 on Thursday night, with ether ETH, XRP XRP, BNB Chain’s BNB BNB and Solana’s SOL SOL down between 2%-5%.The spat between Musk and Trump rattled confidence, with Musk warning that the U.S. is likely headed for a technical recession this year — a concern that weighed heavily on speculative assets.“The quarrels between...