Coindesk

NEW YORK — The city of New York is launching a digital assets advisory council to bring fintech jobs into the Big Apple, Mayor Eric Adams announced Tuesday.New York City is "open for business, he said at the start of a summit hosted at the mayor's official residence, Gracie Mansion. The council will be composed of individuals from the industry, with a chair to be announced in the coming weeks."We want to use technology of tomorrow to better serve New Yorkers today," Adams said in his opening remarks. "We have experts right here, and they are going to help us navigate solutions that serve our city. We are lucky to have this type of human capital right here in the...

A tokenized version of a major private credit fund managed by Apollo will arrive on Solana’s SOL decentralized finance (DeFi) ecosystem, bringing traditional financial instruments closer to the fast-growing network.The launch, orchestrated by lending platform Kamino Finance with support from tokenization specialist Securitize and DeFi risk advisor Steakhouse Financial, aims to make the Apollo’s Diversified Credit Securitize Fund (ACRED) token the first of its kind to be available for on-chain borrowing and leverage on Solana. The token's debut is pending on completing an audit, Kamino said.The ACRED token, launched in January, offers exposure to Apollo’s private credit strategies and is issued under Securitize’s regulated token framework. ACRED will also be the first token on Solana using Securitize’s sToken standard, with...

Crypto infrastructure company Validation Cloud announced Tuesday the debut of Hedera-based AI engine Mavrik-1 that lets users and developers get DeFi market insights by asking queries in plain English.Despite DeFi's promise in revolutionizing finance, its complexity has long acted as barrier against widespread adoption. For DeFi users, the learning curve is steep, requiring knowledge of complex terminologies such as liquidity mining, impermanent loss and staking. Many Defi platforms require users to interact with command-line interfaces and complex web applications.With Mavrik-1, users can ask questions like "Which trading pairs have the largest spreads and which stablecoin has the highest on-chaintransaction volume?." Imagine chatting with your personal AI advisor.The ability to seek information via natural language queries represents democratization of data analysis...

Global economic uncertainties are weighing heavily on cryptocurrency markets, with XRP experiencing significant selling pressure after failing to maintain momentum above $2.40.The digital asset has formed a bearish head-and-shoulders pattern on short-term charts, with high-volume selling emerging precisely when testing key resistance levels. Multiple analysts, including Ali Martinez, warn that losing the critical $2.30 support could trigger a substantial decline toward the $2.00 mark.Technical Analysis HighlightsXRP formed a distinct head-and-shoulders pattern after rallying to a peak of $2.411 before declining 3.38% to $2.330.Significant resistance established at the $2.40 level with high-volume selling pressure.Support at $2.345 was tested multiple times before breaking during the 13:00 hour with volume surging 23% above the 24-hour average.Price declined from $2.341 to $2.329 in the...

True Markets, a new decentralized finance (DeFi) trading platform focused on stablecoin-native execution, has launched its mobile app on Solana and closed an $11 million Series A, bringing total funding to $20 million, the company said in a press release Tuesday.The funding round was co-led by Accomplice and RRE Ventures, with participation from Reciprocal Ventures, Variant Fund, and PayPal Ventures.Seed investors Paxos Ventures and the Solana Foundation, continue to support the firm, True Markets said.Founded by Coinbase (COIN) and Circle veterans Vishal Gupta and Patrick McCreary, New York-based True Markets aims to deliver a non-custodial, mobile-first DeFi trading experience for retail users, prioritizing speed, simplicity, and transparency. The app enables stablecoin-powered token trading on Solana, with gasless execution, smart order...