Coindesk

Following the U.S. presidential election, crypto’s headwinds have seemingly dissipated. Since early November bitcoin has reached $100K amid regulatory wins such as the nomination of crypto-friendly Paul Atkins to replace Gary Gensler as SEC chair, the naming of crypto advocate David Sacks as the incoming White House “AI and Crypto Czar,” and Congressman French Hill’s appointment to head the House Financial Services Committee. With election season coming to a crypto-favorable close in 2024, some are forecasting “altcoin” season, a period of outperformance for non-BTC crypto assets, to continue in 2025 — but is this the right way to characterize digital assets broadly?You're reading Crypto Long & Short, our weekly newsletter featuring insights, news and analysis for the professional investor. Sign...

Donald Trump's victory in the November presidential election is already ushering in a new era for crypto in the U.S., JPMorgan (JPM) said in a report Wednesday, noting that the total cryptocurrency market cap has jumped about 65% since his reelection."Not only does this new administration bring a sense of crypto friendliness, but it also has shown an eagerness to promote the asset class," analysts led by Kenneth Worthington wrote.The incoming administration has shown a willingness to talk about crypto market regulation and about how to keep future development in the U.S., the report said, adding that the president-elect has already nominated a number of people who will take part in the formulation of crypto policy and enforcement.This means a...

Earlier this year, some users of wrapped bitcoin wBTC were dismayed to find its issuer BitGo was sharing custody of their bitcoin (BTC) with BiT Global, a Hong Kong-based crypto custodian partly owned by TRON founder Justin Sun.The episode "reopened old wounds inflicted by previous centralized custody failure," even though it did not expose any novel flaws, the Bitcoin Builders Association (BBA) said in a report on Wednesday."These wounds cause BTC holders to be unwilling to trade off their self-custody for trusted solutions," the report said.The BBA noted that there's been signs of growing distrust toward centralized entities. WBTC's supply has dwindled to 0.74% of the total bitcoin circulating supply from 1.5% over two years ago.The collapse of numerous crypto...

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.The CoinDesk 20 is currently trading at 3834.16, down 2.9% (-116.36) since 4 pm ET.One of 20 assets is trading higher.Leaders: HBAR (+0.8%) and BTC (-1.6%).Laggards: LTC (-7.6%) and FIL (-6.2%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link

EMBARGO 9AM ET - 14:00 UTCPatchwork, a startup focused on simplifying blockchain and smart-contract development founded by former Coinbase employees, has released the next version of its low-to-no-code tools for building decentralized applications (dapps).Currently linked to Coinbase’s popular Ethereum layer-2 network Base and backed by Coinbase Ventures, the “Create-Patchwork” picks-and-shovels approach lowers the barriers to building blockchain applications and attaching data to them.Following the trend toward easily generated content, the complex world of blockchains and smart-contract design is on a path to no-code applications, or “text-to-app” experience.Create-Patchwork is the first of several features the team plans to roll out in early 2025 and a foundational step to enable creators to generate contracts and applications in seconds using natural language inputs.“Patchwork...