Coindesk

Crypto lender Nexo said it is reentering the U.S., marking a comeback two years after regulatory friction forced its exit."America is back and so is Nexo," Co-founder Antoni Trenchev said at a press event Sunday in Bulgaria with Donald Trump Jr., crediting what he described as a more favorable environment for innovation under the Trump presidency."Thanks to the vision and leadership of President Donald J. Trump, his administration, and his family, the United States is once again a place where innovation is championed, not stifled. A place where pioneers are celebrated," Trenchev said, according to a press release.Now managing $11 billion in assets, Nexo said it will offer its full suite of services to U.S. retail and institutional clients, including...

Bitcoin (BTC) returned to positive territory for the year for the first time in almost two months, approaching $95,000 and erasing a drop of as much as 18%.Its current performance, up less 1.5% since Dec. 31, places it between gold, which has gained 24% and the Nasdaq 100, which is down over 7%. As a result, the narrative positioning bitcoin as either a leveraged tech stock or digital gold is leaning slightly toward the digital gold narrative. But only just.Analyzing bitcoin’s correlation coefficients over a 30-day moving average, the largest cryptocurrency by market capitalization now shows a strong correlation of 0.70 with gold and a weaker 0.53 correlation with the Nasdaq 100. This suggests bitcoin is aligning more closely with...

Crypto markets traded flat during the Asia morning hours, with bitcoin (BTC) trading above $94,000 and the CoinDesk 20, a measure of the performance of the largest cryptocurrencies flat.XRP led majors gains with a 4% move higher from the past day, driven by a ProShares ETF approval that will see three futures-tracked products go live on April 30. Cardano’s ADA, BNB Chain’s BNB and ether (ETH) showed moves between 1-3%.One exception to the relatively dormant market has been privacy coin Monero (XMR), up more than 40% in the past 24 hours. It traded over $320 in Asian morning hours Monday, a level last seen in May 2021.Trading volumes zoomed from an average of $50 million on a 7-day rolling basis...

Exchange-traded funds (ETF) issuer ProShares will introduce three XRP-tracked products this week after a tacit U.S. Securities and Exchange Commission (SEC) approval.It will launch an Ultra XRP ETF (2x leverage), a Short XRP ETF and an Ultra Short XRP ETF (-2x leverage), filings show. Its spot XRP approval stays hanging, however. The SEC has acknowledged several XRP spot ETF applications so far, with fund manager Grayscale’s filing facing a critical May 22 deadline.ProShares’ approvals come weeks after Teucrium’s 2x XRP ETF started trading earlier this month, becoming the first XRP ETF in the U.S. It racked over $5 million in trading volumes on the first day, becoming the firm’s “most successful” launch to date.Last week, the CME Group added XRP...

April has been a month of extreme volatility and tumultuous times for traders.From conflicting headlines about President Donald Trump's tariffs against other nations to total confusion about which assets to seek shelter in, it has been one for the record books. Amid all the confusion, when traditional "haven assets" failed to act as safe places to park money, one bright spot emerged that might have surprised some market participants: bitcoin. "Historically, cash (the US dollar), bonds (US Treasuries), the Swiss Franc, and gold have fulfilled that role , with bitcoin edging in on some of that territory," said NYDIG Research in a note. NYDIG's data showed that while gold and Swiss Franc had been consistent safe-haven winners, since 'Liberation Day'—when...