Coindesk

Recently stepped down as Tether's longtime CFO and now its chairman, Giancarlo Devasini keeps a low profile in the modest Swiss town of Lugano, according to the article by Angus Berwick.Circle founder Jeremy Allaire, meanwhile, is comfortable rubbing shoulders with politicians and Wall Street executives, Berwick continued.The conflict is as much about ideology as it is about business, writes Berwick. Tether embraces crypto’s freewheeling ethos, while Circle is pushing for mainstream acceptance through regulation. “Circle will not win if Tether is alive,” Devasini reportedly said months ago.The outcome of this battle will shape the future of stablecoins. If regulators succeed in sidelining Tether, Circle’s USDC could gain market share and bring stablecoins further into the traditional financial system.If Tether survives,...

Disclaimer: The information in this article was translated using artificial intelligence from a foreign source.Have you committed crypto fraud? Now, in addition to fines and jail time, authorities can also subject you to caning—at least, that's what's being reportedly considered in Singapore. Cryptocurrency scams have become a major concern for Singapore’s government, with fraudsters increasingly using digital assets to bypass banking oversight. Minister of State for Home Affairs Sun Xueling said authorities are exploring stricter punishments—including caning—to deter financial crimes. During a parliamentary budget debate on Tuesday, first reported on by major Chinese-language Singaporean news outlet Lianhe Zaobao, Xueling noted that crypto scams accounted for a quarter of all fraud-related losses last year for the region. Criminals tricked victims into converting money...

Ethereum developers on Wednesday initially celebrated a seemingly successful test of Pectra, the blockchain’s most significant upgrade since 2024, on the Sepolia test network. However, hours after the test, Sepolia began to encounter errors.It was the second buggy test for the highly anticipated Pectra upgrade, which is designed to improve Ethereum's efficiency, user experience, and validator system. The issues have led to calls from some developers that the upgrade be delayed.Wednesday’s Sepolia test was expected to be the final step before Pectra’s launch on Ethereum’s mainnet. Initially, the test appeared to succeed, but later, developers noticed empty blocks being added to the chain.The Ethereum Foundation attributed the issue to "an issue with Sepolia's permissioned deposit contract," which "prevented many execution...

Data is an essential element of an efficient market. If market efficiency is the degree to which prices reflect all available information, having quality information is crucial. And to get to information, you need data. Traditional financial markets are data-rich and have high levels of standardization and accessibility, giving market participants abundant avenues for analysis. Digital asset markets are awash in data, but this data has less structure and little standardization, complicating many aspects of fundamental and quantitative analysis.It’s somewhat ironic that data is a sticking point for digital assets since a much-lauded aspect of public blockchains is their transparency. Transactions and data on the blockchain are available essentially immediately to anyone with access to the system. But transparency does...

U.S. President Trump's announcement last weekend about the formation of a strategic crypto reserve in the U.S. is bullish despite the market's subsequent reaction, asset manager Bitwise said in a research report Tuesday.Crypto markets soared following the news, but by Monday had given back all these gains. Bitwise noted that investors became disgruntled with the announcement because the planned reserve will hold tokens other than just bitcoin (BTC).The President announced that XRP, solana (SOL) and cardano (ADA) would be included in a strategic reserve, and later added bitcoin and ether (ETH) to the list of assets."The inclusion of speculative assets like cardano feels more calculating that strategic," wrote Matt Hougan, chief investment officer at Bitwise, adding that despite the "flawed...