Coindesk

Stripe has appointed Matt Huang, co-founder and managing partner of crypto venture firm Paradigm, as the chief executive officer of its upcoming blockchain Tempo.Huang, who already sits on Stripe’s board, will retain his position at Paradigm. That’s according to Fortune, citing sources familiar with the project.The move aligns with a growing trend of developing stablecoin-focused blockchains. These include Plasma, which recently attracted over $373 million in an oversubscribed token sale, and Tether-focused blockchain Stable.The stablecoin sector, with a $270 billion market capitalization, has been growing exponentially and was further propelled by Trump’s recent signing of the GENIUS Act into law. The act established a regulatory framework for the sector in the U.S.Tempo is described as a “high-performance, payments-focused” layer 1...

The crypto market was a sea of green early Wednesday, with altcoins including OKB, PUMP, BNSOL, JITOSOL and SOL chalking out double-digit gains alongside ether's rapid surge toward record highs. "Bitcoin rose by a modest 0.4% during the day and remains 2% below the levels of 30 days ago — clear evidence of the market's switch to altcoin-mode," Alex Kuptsikevich, the chief market analyst at the FxPro said. "We suspect that investors are selling the first cryptocurrency to finance purchases of altcoins. And it is hardly reasonable to talk about a reversal in sentiment, given the rally in altcoins and the historic highs of the S&P 500 and Nikkei 225," he said. Derivatives PositioningEther's (ETH) price rise is accompanied by...

OKB, the token of cryptocurrency exchange OKX, more than tripled to a record high after the company executed a one-time burn of 65.26 million OKB, cutting the supply by more than 50%.Burning the roughly $7.6 billion worth of tokens permanently reduces the maximum supply to 21 million, in line with the hard cap coded into bitcoin (BTC). The burn, or sending the tokens to a wallet address that can't be accessed, was carried out from OKX’s reserves and represents one of the largest deflationary events in exchange token history.The effect of the burn was instant. OKB jumped to $142 from $46 before retrenching to about $102. Trading volume skyrocketed 13,000% to $723 million as traders attempted to capitalize on the...

Meme cryptocurrencies may soon heat up as their leader, dogecoin (DOGE), has formed a golden cross, hinting at a major price surge ahead.A golden cross occurs when the 50-day simple moving average (SMA) of an asset's price moves above the 200-day SMA. The crossover indicates that the short-term momentum is now outperforming the longer trajectory, with the potential to evolve into a major bull run.Dogecoin's averages crossed bullish early today. While the golden cross is seen as a positive indicator, it has a mixed record of predicting trends in most markets, including equities, bitcoin and DOGE. That makes it unreliable as a standalone indicator.That said, most of DOGE's previous big moves unfolded with the appearance of the golden cross. For...

Ethereum's native token, ether (ETH), continues its powerful surge, sparking frenzied activity in the Deribit-listed options market, where traders are making bullish bets on further upside.Over the past 24 hours, traders have spent more than $5 million on the $5,000 strike call option expiring on Sept. 26, per data tracked by Amberdata. The buyers are betting on an ETH breakout above $5,000 by the end of this quarter. As of writing, ether changed hands at $4,670, representing a 26% gain for the month, according to CoinDesk data.Traders also picked up calls at the $5,500 and $6,000 strikes and bull call spreads. OTC tech platform Paradigm said in a Telegram update that a market participant lifted the December expiry call at...