Coindesk

U.S. President Donald Trump signed an executive order Monday afternoon charging the Treasury and Commerce Departments with creating a sovereign wealth fund.While Treasury Secretary Scott Bessent has expressed at least cautious interest in crypto, Commerce Secretary nominee Howard Lutnick has been a loud champion for the sector. His bond trading powerhouse Cantor Fitzgerald is the custodian for stablecoin giant Tether's massive holdings of government paper, and Lutnick himself has talked about his own personal massive exposure to bitcoin (BTC).Appearing alongside Trump in the Oval Office Monday, Bessent said he expected the sovereign wealth fund to be created in the next 12 months. While bitcoin reportedly was not mentioned at the signing, a sovereign wealth fund could potentially be a vehicle...

Over the past few years, Wyoming, a landlocked state in the U.S. Mountain West, has embarked on a journey to become a blockchain pioneer.With a bold vision of creating an attractive cryptocurrency and blockchain ecosystem, the state's crypto-friendly laws have positioned Wyoming as the most welcoming state in the U.S. for blockchain companies and innovators. With the pro-crypto stance of the Trump administration, the state has solidified its status as a model for how jurisdictions can build their economies.Wyoming's aim to be a beacon of crypto innovation is one reason I chose to make it my home. My family lives in Gillette, and Wyoming has become the center of my work life. I love this place, from my thriving bison...

MicroStrategy, the fourth-largest owner of bitcoin (BTC), did not buy any new tokens last week, Executive Chairman Michael Saylor announced on X, ending a 12-week string of purchases.Since Nov. 11, the Tysons Corner, Virginia-based company has bought 218,887 bitcoin, according to Saylor. It currently holds 471,107 bitcoin.While Saylor didn't say why the company held back, a likely reason could be its impending earnings release after the market close on Feb. 5, said James Van Straten, a senior analyst at CoinDesk.Public companies go into a so-called blackout period for some time before earnings releases to prevent insider trading. During that period, which can last days, weeks or even months, people with financial information about the company are restricted from buying or...

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 3112.63, down 17.1% (-641.58) since 4 p.m. ET on Friday.None of the 20 assets are trading higher.Leaders: BTC (-6.8%) and SOL (-14.8%).Laggards: FIL (-33.9%) and AAVE (-29.3%). The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link

Havoc in crypto markets spread to stocks of crypto-focused companies, with losses in U.S. futures pointing to declines in equities that are likely to put bitcoin (BTC) on track for further losses because it tends to mirror movements of U.S. stock markets.S&P 500 futures slid 1.4%, Dow Jones futures fell 1.2% and futures on the tech-heavy Nasdaq 100 lost 1.7%.Shares of Japan’s Metaplanet (3350), colloquially called Asia’s MicroStrategy for its bitcoin treasury, fell 9.44% on the Tokyo Stock Exchange. Crypto and blockchain venture fund SBI Holdings sank 3.60%.U.S.-listed Coinbase (COIN) and MicroStrategy (MSTR) traded more than 5.9% lower in pre-market trading, while mining stocks MARA Holdings (MARA) and Riot Platforms (RIOT) dropped 6%.The T-Rex 2x Long MSTR Daily Target ETF,...