Coindesk

The opening shot is being been fired in the new Congress' crypto push with a plan for a Tuesday introduction of a stablecoin oversight bill from Senator Bill Hagerty. The legislation would set up a U.S. regulatory framework for issuing the dollar-denominated tokens, according to a person familiar with the effort.The Tennessee Republican, who had shepherded a stablecoin effort in the previous session, is now pushing a bill with the backing of the Senate Banking Committee's new chairman, Tim Scott, and the head of its digital assets subcommittee, Cynthia Lummis. That's a big difference from the 2024 effort that couldn't break through the crypto roadblock maintained by previous committee chief Sherrod Brown, the Ohio Democrat who was defeated in November's...

Ether, the second-largest cryptocurrency by market value, crashed hard Monday as prospects of a U.S.-led trade war weighed on risk assets. Data shows investors likely bought the dip, snapping up coins at lower prices.According to analytics firm IntoTheBlock, ether worth almost $1 billion left centralized exchanges Monday, the highest single-day net outflow since January 2024. "This indicates traders took advantage of the drop to accumulate ETH," IntoTheBlock said in a Telegram broadcast.Ether's price crashed as low as nearly $2,000 on some exchanges as market liquidity deteriorated and dealers scrambled to offload futures. While prices have recovered to $2,800, sentiment remains bearish, with data from UltraSound.Money, pointing to an unwinding of the Merge's deflationary effect on ETH.Ether ETFs See Record VolumeEther...

Coinbase (COIN) users lost over $65 million to social engineering attacks in the past two months with an estimated $300 million lost to such attacks annually, crypto sleuth ZachXBT said in an X post Monday.The actual figure lost might be higher, because the amount doesn't include unreported cases, ZachXBT said.Coinbase has not publicly commented on the matter and did not respond to a CoinDesk request for comment before publication.Scammers utilize stolen personal data to deceive users by sending fake emails that mimic Coinbase's official communications, including false case IDs prompting users to transfer funds to scammer-controlled wallets, ZachXBT said.“Scammers clone the Coinbase site nearly 1:1 and allow the scammers to send different prompts to the target via spoofed emails using...

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 3366.83, down 0.8% (-28.06) since 4 p.m. ET on Monday.Three of 20 assets are trading higher.Leaders: ETH (+3.5%) and SUI (+0.9%).Laggards: UNI (-4.2%) and DOT (-4.1%). The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link

The Chicago Mercantile Exchange Group (CME) has revealed that in the first month of the year, its crypto contracts saw an average daily volume (ADV) of 198,000 with a notional value of $13.6 billion.The CME detailed in a press release on Tuesday that year-over-year, its cryptocurrency ADV rose 180% as its micro bitcoin (BTC) futures registered a 255% rise, while its micro ether (ETH) futures contracts jumped 223%.While the exchange’s bitcoin and ether futures contracts have a notional value of 5 BTC and 50 ETH, respectively, their micro contracts represent just 0.1 of each cryptocurrency, allowing for more precise trading and risk management given their smaller size.On top of its full-sized and micro contracts for the top two cryptocurrencies by...