Coindesk

Ethereum is facing an identity crisis. Its native token, ether (ETH), is underperforming against competitors, and longtime builders are beginning to question whether the chain's technology is falling behind—and if its community is losing focus.The Ethereum Foundation, the nonprofit that stewards Ethereum's development, has been blamed for many of the network's struggles. Co-founder Vitalik Buterin is spearheading a massive leadership shake-up at the organization, but his central influence over the process has sparked its own controversy. Meanwhile, rival ecosystems like Solana are capitalizing on the uncertainty, attracting top talent and outpacing ETH in the market.Amid this turbulence, a new project, Etherealize, is aiming to bring ETH to Wall Street. Founded by former banker Vivek Raman, Etherealize seeks to bridge the...

The opening shot is being been fired in the new Congress' crypto push with a plan for a Tuesday introduction of a stablecoin oversight bill from Senator Bill Hagerty. The legislation would set up a U.S. regulatory framework for issuing the dollar-denominated tokens, according to a person familiar with the effort.The Tennessee Republican, who had shepherded a stablecoin effort in the previous session, is now pushing a bill with the backing of the Senate Banking Committee's new chairman, Tim Scott, and the head of its digital assets subcommittee, Cynthia Lummis. That's a big difference from the 2024 effort that couldn't break through the crypto roadblock maintained by previous committee chief Sherrod Brown, the Ohio Democrat who was defeated in November's...

Ether, the second-largest cryptocurrency by market value, crashed hard Monday as prospects of a U.S.-led trade war weighed on risk assets. Data shows investors likely bought the dip, snapping up coins at lower prices.According to analytics firm IntoTheBlock, ether worth almost $1 billion left centralized exchanges Monday, the highest single-day net outflow since January 2024. "This indicates traders took advantage of the drop to accumulate ETH," IntoTheBlock said in a Telegram broadcast.Ether's price crashed as low as nearly $2,000 on some exchanges as market liquidity deteriorated and dealers scrambled to offload futures. While prices have recovered to $2,800, sentiment remains bearish, with data from UltraSound.Money, pointing to an unwinding of the Merge's deflationary effect on ETH.Ether ETFs See Record VolumeEther...

Coinbase (COIN) users lost over $65 million to social engineering attacks in the past two months with an estimated $300 million lost to such attacks annually, crypto sleuth ZachXBT said in an X post Monday.The actual figure lost might be higher, because the amount doesn't include unreported cases, ZachXBT said.Coinbase has not publicly commented on the matter and did not respond to a CoinDesk request for comment before publication.Scammers utilize stolen personal data to deceive users by sending fake emails that mimic Coinbase's official communications, including false case IDs prompting users to transfer funds to scammer-controlled wallets, ZachXBT said.“Scammers clone the Coinbase site nearly 1:1 and allow the scammers to send different prompts to the target via spoofed emails using...

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 3366.83, down 0.8% (-28.06) since 4 p.m. ET on Monday.Three of 20 assets are trading higher.Leaders: ETH (+3.5%) and SUI (+0.9%).Laggards: UNI (-4.2%) and DOT (-4.1%). The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link