Coindesk

Crypto exchange Coinbase (COIN) became the largest crypto exchange to operate in the U.K. after securing a spot on the register of the Financial Conduct Authority (FCA), allowing it to offer crypto services in the country for the first time."It opens up new channels and opens up the ability to launch new products and services," Keith Grose, Coinbase's U.K. CEO, said in an interview.Coinbase has spent the last six months working towards Monday's approval, said Grose. By becoming a registered firm, Coinbase can offer both crypto and cash for investors and traders in the U.K.Gaining a spot on the register is challenging, just 14% of applicants have succeeded.Coinbase already had a presence in the U.K. through its CB Payments Ltd....

A market-wide drop has sent Donald Trump’s TRUMP token spiraling further down in the past 24 hours, bringing losses from the peak to a staggering 75%.TRUMP was issued a couple of days before Trump’s swearing-in ceremony on Jan.20 as the first-ever memecoin officially endorsed by a sitting president. It ran from zero to a market cap peak of $14 billion less than 48 hours after going live, though most retail traders lost money on the token, as a CoinDesk analysis showed.Trump continues to endorse the token on his social media platform, Truth Social, where he posted "I LOVE $TRUMP!!" alongside a link to purchase the token over the weekend.However, the market responded with less enthusiasm than anticipated. By Sunday morning,...

Premiums of an infamous bitcoin (BTC) trade popularized by Sam Bankman-Fried have popped back to significant levels amid a market bloodbath caused by rising U.S. tariffs, a market sign that some consider bearish in the short term.The so-called Kimchi premium, or the difference in bitcoin prices on Korean exchanges compared to global bourses, rose just over 10% as of Asian morning hours Monday as BTC dropped 6% in the past 24 hours.The arbitrage involves buying bitcoin on a global exchange and selling it on a Korean exchange for a riskless profit in Korean won. Pocketing the actual gains is difficult due to South Korea's strict capital controls, but the premium is often used alongside other factors to gauge market sentiment.Trading...

The Indian government is rethinking its stance on crypto as the global view on digital assets starts to thaw, Reuters reported on Monday.Although crypto is unregulated in India, the country started taxing digital assets in 2022, charging 1% tax-deducted-at-source (TDS) on crypto transactions and introducing a 30% capital gain tax. Since then, the crypto sector has been trying to get the Narendra Modi-led government to ease taxation and bring policy clarity to grow digital assets in the country, but to no avail.The Indian government's review comes as Donald Trump's crypto friendly regime has reignited hopes of widespread crypto adoption in the U.S. and approval of more financial products linked to tokens."More than one or two jurisdictions have changed their stance...

Major tokens slumped more than 25% in the past 24 hours as a new wave of tariffs imposed by the U.S. on Canada and Mexico over the weekend birthed talks of a global trade war — souring sentiment for risk assets.XRP, dogecoin (DOGE) and Cardano’s ADA fell more than 25% to reverse all of the gains since December, reaching pre-U.S. election levels from early November. Most majors are down 40-50% in the past month, data shows, making it one of the steepest dives in recent years. Overall market capitalization fell 12%, the worst fall in over a year, while the broad-based CoinDesk 20 (CD20) lost 10%. Bitcoin (BTC) dropped 6%.Futures markets reflected these losses with traders of ether (ETH)-tracked products...