Coindesk

Gemini Space Station Inc., the crypto exchange and custody platform founded by Cameron and Tyler Winklevoss, has taken a significant step toward becoming a publicly traded company.The firm announced Friday that it has confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC), signaling its intent to pursue an initial public offering (IPO) of its Class A common stock.While specific details around the size and valuation of the offering remain undisclosed, the move positions Gemini among a growing list of crypto-native firms seeking a foothold in traditional capital markets. The crypto exchange has been taking major steps to go public in the U.S., including hiring Goldman Sachs and Citigroup as its financial advisors...

It was a week of fortunes made, and fortunes lost, at CoinDesk.On the one hand, we had Circle, long a leading crypto company, hurtling to IPO and making bank. Its shares were priced at $110 at press time (up from $31 Wednesday), leading many to expect a summer and fall of crypto-themed IPOs. On the other, we saw HyperLiquid trader James Wynn go from having a $100 million BTC position one day to a massive loss the next. (Kids, beware the big, bad leverage monster).Most of the market portents looked good, though. Crypto money-raising season was in full swing.Groups doubled-down on the Bitcoin Treasury Strategy, not least Metaplanet, Japan’s answer to Michael Saylor’s Strategy. Pump.Fun, Solana’s memecoin juggernaut, said it...

Bitcoin miner HIVE Digital Technologies (HIVE) has surpassed 10 exahash per second (EH/s) in hashrate capacity, a 58% increase from April, driven by the launch of a 100-megawatt hydro-powered site in Paraguay. The company said in a press release on Friday that it's on track to reach 25 EH/s by the end of 2025.The firm mined 139 bitcoin in May, or an average rate of 4.5 BTC per day. Peak capacity hit 10.4 EH/s while average hashrate for the month stood at 8.5 EH/s. HIVE said its fleet efficiency remained steady at around 20 joules per terahash (J/TH), and its network share now exceeds 1% of global Bitcoin mining power.The new facility in Paraguay reflects a broader trend in the...

Crypto prediction market Polymarket and Elon Musk-led artificial intelligence (AI) firm xAI — which owns X, the social media platform formerly known as Twitter — announced a partnership on Friday.Proud to announce Polymarket's partnership with X and xAI as their Official Prediction Market Partner," Shayne Coplan, the prediction platform's CEO, posted on X. "The two top truth seeking apps on the internet are stronger together," he added. "Welcome to News 2.0."The official X account confirmed the deal with a tweet of its own.At press time, no other details of the arrangement were shared.The announcement comes a day after Musk and U.S. President Donald Trump very publicly fell out over the national debt and the GOP's attempts to pass a new...

The cryptocurrency market is experiencing heightened volatility amid an escalating feud between President Donald Trump and his former head of the Department of Government Efficiency, Elon Musk, over the state of the U.S. economy.Cardano's ADA ADA has also seen extreme price swings amid market uncertainties. After dropping from $0.688 to $0.621, ADA found strong support and rebounded, forming an ascending channel with resistance at $0.644, according to CoinDesk Research's technical analysis model. The technical indicators suggest a potential renewed bullish momentum as the cryptocurrency reclaims the $0.640 level with decreasing volatility.At press time, ADA is trading at $0.66, down about 1.8% over the past 24 hours, while the broader market gauge CoinDesk 20 Index fell 1%.Some recent news within the...