Coindesk

The crypto industry’s Fairshake political action committee is flooding Republican candidates with last-minute money in special congressional elections in Florida.Two U.S. House of Representatives seats had been opened by resignations when their occupants were tapped for posts in President Donald Trump’s administration, including that of Matt Gaetz, the politician Trump sought for the attorney general job who was tied to accusations of sex with a minor and drug abuse. The open seats are pivotal for Republicans' control of their tight margin in their House majority, so Democrats have devoted tremendous money and attention to them.An affiliate of the Fairshake super PAC, which is set up to devote money to candidate advertising independent of campaigns' involvement, had already weighed in during...

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 2642.5, down 1.0% (-27.91) since 4 p.m. ET on Thursday.Five of 20 assets are trading higher.Leaders: DOT (+2.1%) and AAVE (+1.6%).Laggards: SUI (-5.1%) and FIL (-3.3%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link

Short-term price dips are par for the course in bitcoin’s (BTC) bull markets, but one indicator suggests the current decline from recent highs may reflect a deeper structural shift in market dynamics.Bitcoin was trading around $84,000 as European morning hours on Friday, a 23% drop from its January peak of $109,000. The fall has rattled investors and fueled debate over whether this marks the start of a new bear market or a fleeting correction within a broader bullish trend.Such pullbacks are not uncommon — BTC has weathered similar declines in past bull cycles, often rebounding to new heights. Yet, on-chain analysis firm CryptoQuant’s Bull Score Index, a composite metric designed to gauge bitcoin’s market health, shows signs of deeper weakness.The...

Strategy (MSTR) will likely soon be in the market for additional sizable bitcoin purchases after pricing an upsized sale of its latest preferred stock issue.The company sold 8.5M shares of its 10% Series A Perpetual Strife Preferred Stock at price of $85 each, raising roughly $711.2M. Strategy initially had hoped to raise $500M.The latest series of preferred stock differs from the original STRK in that it comes with a higher coupon (10% versus 8%) and has no common share conversion provision.The company at last check owned more than 499,200 bitcoin, so this coming fresh round of purchases should take the Strategy stack well above 500,000 tokens.MSTR shares are down marginally in premarket action to just under $300. Bitcoin is steady...

By James Van Straten (All times ET unless indicated otherwise)With just over a week to go until the end of March, the first quarter has been disappointing, particularly in terms of price action rather than narrative for the crypto industry. Bitcoin (BTC) has dropped 10%, its worst first-quarter performance since 2020, and ether (ETH) has posted its weakest first quarter since inception. So far, bitcoin has been relatively steady in March.Markets remain in the latter stages of President Donald Trump’s first 100 days in office, a period historically marked by uncertainty and volatility. This is expected to persist at least through the end of April.As quarter-end approaches, negative liquidity and position management could lead to increased volatility and whipsaw price...