Coindesk

Arthur Hayes, the co-founder of crypto exchange BitMEX, has offloaded more than $13 million worth of crypto holdings, including ether (ETH), ethena (ENA), and pepe (PEPE).Data from Arkham Intelligence shows Hayes sold millions worth of these cryptocurrencies and moved to accumulate USDC, with the stablecoin now making up over 80% of the $27.9 million in the address associated with him.The address sold 2,373 ETH worth $8.32 million, 7.76 million ENA valued at $4.62 million, and 38.86 billion PEPE for $414,700. In a post on X, he seemingly confirmed he is behind the address and pointed to a bearish scenario for the crypto space.Hayes suggested that markets will take a hit from the impact of President Donald Trump’s tariffs, some of...

Crypto markets may be climbing, but some investors don’t believe the rally is real, and that’s exactly why it could go much higher, according to Tom Lee, co-founder of Fundstrat and chairman of Ethereum treasury firm Bitmine Immersion (BMNR).Speaking with CoinDeskTV, Lee explained why he called the rebound across crypto and equities that started in April "the most hated V-shaped bounce in history."That's because when markets slumped after President Donald Trump's tariff announcements at the beginning of the month, economists predicted a recession, and many investors steered clear of riskier assets. The rebound caught them off guard."Since 2020, investors have underestimated every recovery,” he said. “This one is no different."Traditional finance is increasingly buying into crypto — steadily and quietly,...

Soft U.S. July jobs numbers released Friday morning combined with shocking revisions lower to June and May prints to produce the weakest three-month period of employment growth since the Covid shutdowns of 2020.The data seems likely to put an end to the wait-and-see approach of Federal Reserve Chairman Jerome Powell and set the central bank on a path to restarting rate cuts at its next meeting in September.That's sent the yield on the 10-year U.S. Treasury bond plunging 14 basis points to 4.22% and the price of gold pumping 1.5% to $3,400 per ounce and back within sight of its record high.Whither two other interest-rate sensitive assets: bitcoin and stocks? Not so much. With about 90 minutes to go in...

Polkadot's DOT encountered substantial bearish momentum over the last 24 hours, retreating from $3.76 to $3.56, or more than 5%, according to CoinDesk Research's technical analysis model.The model showed that DOT initially demonstrated resilience, achieving an intraday high of $3.87 on July 31, yet subsequently confronted relentless selling pressure accompanied by pronounced volume surges during pivotal breakdown junctures on August 1.The token now has support in the $3.55-$3.58 range, with resistance at the $3.68 level, according to the model.In recent trading, DOT was 5.3% lower over 24 hours, trading around $3.64.The decline in Polkadot came as the wider crypto market also fell, with the broader market gauge, the CoinDesk 20 index, recently down 3.7%Technical Analysis:Price retreated from $3.76 to $3.56,...

With the passage of the GENIUS Act and growing momentum behind the CLARITY bills in Congress, regulatory clarity for digital assets is finally within reach—delivering the legal framework the crypto industry long demanded. But as that clarity arrives, are crypto incumbents the real winners?For years, the dominant narrative from the crypto industry was that unclear regulation and enforcement would straitjacket the industry in the world’s largest economy. It did. Lawsuits crippled startups. Capital left the U.S. Talent flowed abroad.One group suffered most of all: the country’s more than 3,300 U.S. broker-dealers.Bound by federal laws, broker-dealers were forced to sit on the sidelines as billions of dollars flowed into crypto that would otherwise be theirs. Retail investors funded the rapid expansion...