Coindesk

Coinbase (COIN) sold 12,652 ether ($25 million at the current price) in the fourth quarter, when it was valued about double the level now, according to Geoffrey Kendrick, the global head of digital assets research at Standard Chartered Bank.In a note, Kendrick said he analyzed the crypto exchange's quarterly filings, which show it holds ether (ETH) under different categories, including investment and operational purposes. He estimates that about 80% of revenue generated by Base, Coinbase's Ethereum layer-2 blockchain, is profit.Notably, the timing of the company's trades aligns with price movements, he said. Coinbase net bought in the third quarter, when ETH was trading at around $2,500, and net sold in the fourth, when the second-largest cryptocurrency reached $4,000. It's now...

Bitcoin (BTC) inched toward $86,000 while XRP jumped 10% to lead gains among majors as crypto markets staged a broader recovery in the past 24 hours.BTC rose in early Asian hours on Thursday following the Wednesday Federal Open Market Committee (FOMC) meeting, where the Fed kept rates intact but lowered growth outlooks until 2027.Ether (ETH) remained muted after a sudden 7% jump late Wednesday, ending the day up 3.%. Solana’s SOL, dogecoin (DOGE), and BNB Chain’s BNB showed gains under 6%, while Uniswap’s UNI surged 8% as token holders passed a $165 million foundation funding proposal.XRP jumped as high as 12% before paring gains, as closely-related Ripple Labs ended its long-standing battle with the U.S. Securities and Exchange Commission (SEC),...

Bitcoin (BTC) punters are looking at topside options bets in a bullish shift in price expectations after the Federal Reserve's (Fed) meeting, but ether (ETH) continues to lag sentiment. As of writing, BTC's short-term and long-term risk reversals, which show the implied volatility premium (demand) for bullish bets or calls versus puts, were positive, implying investor interest in chasing price gains in the leading cryptocurrency, per data source Amberdata.It marks a shift from the bearish sentiment that prevailed weeks before the Fed meeting when short and near-dated puts were pricier than calls, reflecting downside fears."Frontend skew flipped calls. Flows featured 21 Mar outright calls and calendars bought, while 28 Mar puts were sold," institution-focused over-the-counter tech platform Paradigm noted in...

Kraken is nearing a $1.5 billion deal for U.S. futures trading platform NinjaTrader, according to a Wall Street Journal report.The deal could be a way for the crypto exchange to move into another asset class and increase its users, the report said, citing people familiar with the matter.The report added that Kraken could announce the deal as soon as Thursday and that NinjaTrader would remain a standalone platform under Kraken.Kraken and NinjaTrader did not immediately respond to CoinDesk's request for comment.Source link

Ripple CEO Brad Garlinghouse sees closely related XRP as part of the White House’s proposed digital asset stockpile and anticipates the launch of an XRP exchange-traded fund (ETF) before the end of 2025, per a Bloomberg Markets interview.Garlinghouse’s optimism came after the resolution of Ripple’s long-standing legal battle with the U.S. Securities and Exchange Commission (SEC), which concluded with the agency dropping its case against the company on Wednesday.“XRP was named by the President of Truth Social. (He said) there’s gonna be a bitcoin strategic reserve and a crypto stockpile that will include things like XRP,” Garlinghouse told Bloomberg’s Sonali Basak, referring to the initiative formalized by President Donald Trump’s executive order in early March.The Ripple CEO also foresaw a...