Coindesk

HONG KONG — Binance founder Changpeng “CZ” Zhao believes the convergence of equity markets and crypto is ushering in a new era for digital assets, one that expands access to institutional capital and broadens crypto’s global reach. But he cautions that the sector still faces significant risks, especially as it enters its first major bull cycle since these structures gained traction.Speaking at BTC Asia in Hong Kong, CZ said moves by public companies to hold bitcoin (BTC) and other cryptocurrencies on their balance sheets — following the example set by MicroStrategy — mark a breakthrough moment.“In the world’s largest economy, 90%-95% of the money is managed by institutions,” he noted. “Until ETFs and treasury companies, those guys couldn’t participate in...

An attempted rally in crypto earlier on Thursday was met by steady selling throughout the U.S. afternoon hours.After rising above $113,000 level at one point, bitcoin (BTC) retreated to $111,800 late in the session, down about 0.7% over the past 24 hours. The selling in ether (ETH) and XRP (XRP) was a bit more sizable, with those tokens lower by 2.1% and 1.4%, respectively.Outperforming among the majors was Solana's SOL (SOL), which rose 3.1% over the past day.Quietly on the rise even as bitcoin struggled mightily over the past two weeks is gold. The yellow metal was higher by another 0.8% on Thursday to $3,477 per ounce. For the month of August, gold's outperformance is even more stark — a...

Polkadot's DOT earlier Thurwday rose more than 2%, with institutional volume patterns suggesting professional participation, according to CoinDesk Research's technical analysis model.The model showed the digital asset demonstrating textbook institutional accumulation behavior, initially testing support at $3.81 before executing a measured advance to $4.02 accompanied by substantial volume of 4.6 million units.Trading volumes exceeding 320,000 units during the initial decline phase indicate institutional repositioning rather than retail panic, with subsequent buying interest establishing clear support levels around $3.90-$3.91, according to the model.The move higher in Polkadot reversed though, with the price slipping back to that $3.90 support.On the news front, the Republic of Paraguay has committed $6 million to a Polkadot-based tokenization initiative, according to a post on X ,...

The Commodity Futures Trading Commission — under its ongoing "crypto sprint" to open a wider path for U.S. crypto business — issued an advisory on Thursday that firms residing outside the U.S. that are willing to register with the agency as foreign boards of trade can deal directly with U.S. customers."American companies that were forced to set up shop in foreign jurisdictions to facilitate crypto asset trading now have a path back to U.S. markets," said CFTC Acting Chairman Caroline Pham in a statement with the advisory, which didn't make any changes to agency policy but was meant to serve as a "reminder" of a possible approach for such companies."Since the 1990s, Americans have been able to trade on non-U.S....

BONK, the Solana-based meme token, advanced 4% in the last 24 hours, reaching $0.0000218 before settling around $0.0000213. The strongest push came at 19:00 UTC on Wednesday, when BONK jumped 1.9% from $0.0000211 to $0.0000215, propelled by a 574.8 billion-token volume spike. Sellers capped momentum at $0.0000215, yet support consistently re-emerged near $0.0000212, reinforcing the token’s resilience. BONK traded within an 8% intraday range, reflecting persistent volatility, according to CoinDesk Research's technical analysis data model.Institutional confidence in Solana continues to grow. Galaxy Digital, Multicoin Capital, and Jump Crypto are spearheading a $1 billion Solana investment fund, supported by Cantor Fitzgerald’s infrastructure. The initiative exceeds existing Solana allocations by 150%, and could channel significant liquidity into Solana-native projects, with BONK among...