Coindesk

MicroStrategy (MSTR), the software company founded by Michael Saylor, is not the only large-scale corporate buyer of bitcoin (BTC), JPMorgan (JPM) said in a Wednesday report. Crypto miners are also adopting the accumulation strategy. The shift to building up bitcoin holdings is driven by growing pressure on profitability, which stems from the reward halving in April and a rising network hashrate, the report said. Hashrate is the total computational power used to mine and process transactions on a proof-of-work blockchain and is a proxy for competition in the industry and mining difficulty."This likely prompted miners to hoard or seek further investments into bitcoin or diversify into AI/HPC businesses," analysts led by Nikolaos Panigirtzoglou wrote, referring to artificial intelligence and...

Societe Generale said it carried out a blockchain-based repurchase agreement with the Banque de France in what it called the first such tokenized transaction with a euro-zone central bank.The lender's digital assets-focused subsidiary, SG-Forge, deposited as collateral some bonds issued in 2020 on the public Ethereum blockchain in exchange for central bank digital currency (CBDC) issued by the Banque de France on its DL3S blockchain, it said in a press release.With the European Union's Markets in Crypto Assets (MiCA) regulatory framework already in place for stablecoin issuers, SG-Forge has maintained a high profile exploring ways to deploy its euro stablecoin, EUR CoinVertible (EURCV). The token was not involved in the repo transaction.The Banque de France, meanwhile, has been energetically testing...

A Polygon DAO community cohort is considering a proposal to use its more than $1 billion of idle stablecoin reserves, currently held on the Polygon PoS Chain bridge to capture yields, per a pre-proposal governance post.“The PoS Bridge currently holds around $1.3B of stablecoins, which makes it one of the largest, but also idle, holders of stablecoins onchain,” the pre-proposal reads. “At the current benchmark lending rate for the 3 major stables this is an opportunity cost of around $70M annually.”“The authors believe that DeFi as a whole has matured whereby assets held in the Polygon PoS bridge can be used productively and securely to incentivize additional activity on Polygon PoS,” it added.DAOs are organizations represented by rules encoded as...

Bitcoin (BTC) is not the only one setting milestones. HyperLiquid, the leading on-chain perpetuals trading protocol operating on its custom-built layer 1 blockchain, is setting impressive records, too, with the platform seeing more activity in ether (ETH) than bitcoin.The cumulative perpetuals volume on the platform has surged past $500 billion, registering a staggering 15-fold year-to-date rise, according to DefiLlama.The platform has seen an average daily volume of over $5 billion in the past seven days, accounting for over 45% of the total onchain perpetuals market activity of the past 24 hours.What's more interesting is that ether, not bitcoin, is leading the boom in activity this week. Since Monday, ether perpetuals have registered a cumulative trading volume of $7 billion. That's...

Donald Trump-backed World Liberty Financial just increased its holdings of Chainlink’s LINK token.The project purchased another $1 million worth of LINK late Thursday, data shows, for the second straight day, increasing its LINK stash to $2 million worth of tokens. It additionally brought $246,000 worth of Aave’s AAVE, taking total token holdings to $1.2 million.LINK is now World Liberty Financial’s fourth-largest holding after ether (ETH), bitcoin (BTC) and tether (USDT).Backed by the Trump family, World Liberty Financial is a unified platform where users can borrow and lend cryptocurrencies, create liquidity pools and transact with stablecoins. WLFI serves as a governance token for the platform.It uses data provider Chainlink's services for better integrating with the wider crypto ecosystem. Chainlink supports the...