Coindesk

Digital asset manager Parataxis Holdings is officially going public through a SPAC deal with SilverBox Corp IV, confirming earlier plans to list, it announced in a press release on Wednesday.The new entity will be called Parataxis Holdings Inc. and aims to trade under the ticker “PRTX” on the New York Stock Exchange (NYSE).At a $10 share price, the deal values the combined company at $400 million, with the potential to double that figure if Parataxis exercises the right to raise an additional $400 million through a share purchase agreement. About $31 million has already been raised and earmarked for purchasing bitcoin (BTC), giving future shareholders immediate exposure to the asset.Parataxis manages bitcoin in an active strategy that blends market exposure...

Polkadot's DOT demonstrated a significant surge in large buyers' interest during a 24-hour trading period, with corporate treasury allocations and regulatory clarity driving sustained buying pressure, according to CoinDesk Research's technical analysis model.The model showed that price action demonstrated potential institutional-grade stability with sustained corporate interest indicators.As of July, Bifrost had secured over 81% of DOT’s liquid staking token (LST) market, boasting more than $90 million in total value locked (TVL), according to a post on X.The rally in DOT came as the wider crypto market also rose, with the broader market gauge, the Coindesk 20, recently up 2%.In recent trading, Polkadot was 2.1% higher over 24 hours, trading around $3.66.Technical Analysis:Institutional order flow patterns established strong support levels reflecting...

Bitcoin (BTC) project Babylon took another step toward offering a decentralized finance (DeFi) experience on its $5 billion staking protocol akin to that seen elsewhere in the crypto world.The latest development is the introduction of trustless vaults, designed to allow BTC holders to deposit their tokens without relying on a centralized entity, as outlined in a new white paper shared with CoinDesk on Wednesday.In DeFi ecosystems, trustless vaults are a form of digital asset storage or management that removes the need for users to trust a central authority or intermediary. Instead, the systems use smart contracts to ensure security and enforce the rules of the vault.Babylon says its vaults will allow bitcoin to be used as collateral in DeFi applications...

NEW YORK — Tornado Cash developer Roman Storm has been found guilty of conspiring to operate an unlicensed money transmitting business, a Manhattan jury decided Wednesday.The jury was unable to reach a unanimous verdict on the remaining charges, conspiracy to commit money laundering and conspiracy to violate international sanctions, despite four days of deliberations after the three-week trial. A sentencing date has not yet been set, and it is currently unclear whether prosecutors will elect to re-try Storm on the remaining charges. Prosecutors told the court on Wednesday afternoon that they will confer internally and decide.Storm was arrested in 2023 and charged with helping hackers and other cyber criminals, including North Korea’s famed hacking squad, the Lazarus Group, launder more than...

Internet Computer's native token (ICP) shed 2.4% over the last 24 hours, retreating from $5.21 to $5.08, even as it showed intraday strength. After hitting a low of $4.97, the token rebounded as much as 3.2% to reach a local high of $5.13 before consolidating around $5.06–$5.08, according to CoinDesk Research's technical analysis data model. The session's 3.52% swing highlighted both bearish pressure and renewed interest from buyers near key support levels.The strongest recovery occurred during the 05:00 UTC window, when volume surged to 524,622 tokens, 56% above the 24-hour average of 337,329. This influx of activity marked a turning point as bulls stepped in between $4.97 and $5.00, with bears pushing back at the $5.09-$5.13 resistance cluster.ICP advanced from...