Coindesk

The cryptocurrency market is navigating choppy waters amid escalating geopolitical tensions, with Bitcoin Cash (BCH) showing resilience despite broader market pressure. BCH recently demonstrated strong technical performance, forming a V-shaped recovery after testing critical support at $391.656, with substantial buying volume establishing a high-volume support level. This comes as the global cryptocurrency market faces headwinds from the ongoing US-China trade disputes, which continue to introduce uncertainty across financial markets worldwide. Meanwhile, traditional financial indicators like rising US Treasury yields signal systemic stress that historically creates mixed environments for risk assets like cryptocurrencies.Technical Analysis HighlightsBCH tested critical support at $391.656, triggering substantial buying volume particularly during the 01:00-04:00 timeframe.A powerful breakout occurred during the 13:00 hour, with BCH surging to $416.958...

Brazilian fintech Méliuz (CASH3), which serves over 30 million users in the country, is launching a public share offering to raise up to R$450 million ($78 million), with plans to allocate all proceeds to purchasing bitcoin BTC.The offering, announced Friday in a securities filing, consists of an initial issuance of 17 million common shares, with the possibility of expanding to 51 million depending on demand. Shares will be sold exclusively to professional investors in Brazil and abroad under automatic registration rules.Each share purchased will come with a package of free subscription warrants divided into 10 series, allowing investors to buy additional stock at set prices in the future.At current share prices, Méliuz expects to raise around $26 million, but that...

New York City’s Comptroller has dismissed a plan by Mayor Eric Adams to back municipal bonds with bitcoin BTC, calling it “legally dubious and fiscally irresponsible.”Comptroller Brad Lander, who co-manages the city’s debt issuance, rejected the proposal just days after Adams pitched the so-called “BitBond” to a crowd at a bitcoin conference in Las Vegas.“Cryptocurrencies are not sufficiently stable to finance our city’s infrastructure, affordable housing, or schools,” Lander said in a press release. He added that such a move could shake investor confidence and run afoul of federal tax law.The idea is part of Adams’ broader push to position New York as a global crypto hub. Since taking office, he has converted paychecks into crypto and launched a digital...

Coinbase won't call customers to warn them that their accounts may have been compromised. It's a common scam vector. Still, someone tried it on me.You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions.Account compromiseThe narrativeLast weekend, an unknown California number called me. A helpful gentleman informed me that my Coinbase account had been compromised during its recent data breach and he was there to assist me in not losing my assets.Oh no, the horror!Why it mattersAll right, so obviously this is a scam. Right after hanging up with this supposed help desk agent, I texted a Coinbase spokesperson to verify that at no point would...

Toncoin TON took a sharp dive in the last 24-hours, falling more than 7% from $3.319 to a low just under the $3 mark after as excitement around a rumored Telegram partnership with Elon Musk’s xAI reversed course.The plunge is the continuation of one that started shortly after Telegram CEO Pavel Durov hinted at a collaboration with xAI, Elon Musk’s artificial intelligence company.The speculation pushed TON’s price up to a $3.65 high, but a swift denial from Musk sent it tumbling, after the CEO of X said that the deal hasn’t yet been signed. TON is now down 17% since.Markets appear to be pricing in the collapse of what could have been a major integration involving Telegram’s 700 million users...