Coindesk

Bitcoin (BTC) flirted with $100,000 Thursday as major cryptocurrencies including dogecoin (DOGE) and Cardano’s ADA led crypto market gains, boosted by dovish signals from the Federal Reserve and a pending trade deal teased by U.S. President Donald Trump.DOGE added 5% and ADA jumped 4%, while ether (ETH), BNB Chain’s BNB, xrp (XRP) and Solana’s SOL gained 2%-3%. The broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens, rose 2.2%.In a social media post late Wednesday, Trump said the U.S. will unveil a “big” trade deal with a “highly respected country” at a press conference slated for 10 a.m. ET. Bloomberg, the Financial Times and New York Times all identified the country as the U.K.The announcement would mark the...

Arthur Hayes has a message for crypto investors and bitcoin (BTC) HODLers obsessing over Federal Reserve policy as the U.S. and China inch toward a trade deal: You're watching the wrong institution.“The real show is at the Treasury Department. Ignore the Fed. It doesn’t matter,” Hayes told CoinDesk in a recent interview. “Powell didn’t matter in 2022 under a Democratic regime, and he doesn’t matter now under a Republican one.”For Hayes, the Federal Reserve has become a sideshow. The real monetary lever-pulling, he argues, is happening under Treasury Secretary Scott Bessent, who is quietly reshaping global liquidity with buybacks and auction strategies designed to manage a ballooning U.S. debt load.That flood of liquidity, paired with America’s inability to rein in...

Bitcoin zoomed close to $100,000 early Thursday as President Donald Trump said a tariff deal with a “big, highly respected country” is to be announced soon.Trump will hold a “major” trade deal news conference at 10 a.m. ET, where the announcement is supposed to be the “first of many.”The identity of the country involved remains unclear. Still, some reports say it is believed to be the U.K. Easing tariffs could soften inflationary pressures and improve the backdrop for investing in crypto, tech, and other high-beta assets.Bitcoin has gained more than 5% in the past 24 hours, extending its weeklong rally as macroeconomic conditions improve.A combination of falling bond yields, a weakening dollar, and renewed institutional flows into spot bitcoin ETFs...

The U.S. Office of the Comptroller of the Currency, which regulates national banks, has continued its about-face to earlier resistance to cryptocurrency in banking, issuing interpretive letters that say the institutions can — at their customers' behest — buy and sell crypto assets in custody.The newly explained policy stance released by the OCC on Wednesday also clarified that the bankers can outsource crypto activities to third parties, including custody and executive services. As long as it all still checks the boxes of the watchdog's safety-and-soundness requirements, the OCC is giving the banks more crypto freedom.This week's move follows the agency's March reversal of a longstanding policy that demanded bankers check with their government supervisors before moving ahead with new crypto...

David Bailey, CEO of BTC Inc., the owner of Bitcoin Magazine, is planning to launch a publicly traded bitcoin (BTC) investing company, The Information reported, citing people familiar with the matter.Bailey, who advised Donald Trump on crypto policy during his 2024 presidential campaign, is reportedly seeking $200 million through a private share sale and an additional $100 million in convertible debt to fund a small publicly traded firm to buy bitcoin.The company—whose name is not known yet—will merge with BTC Inc. and be named “Nakamoto” after bitcoin creator Satoshi Nakamoto, according to the people. The deal could be announced as soon as next week.His plans follow those of several other companies, building on the success of Strategy executive chairman Michael...