Crypto News
Crypto Valley Exchange Bets ‘Smart Clearing’ Is DeFi Derivatives’ Missing Link
The complex pipes that keep derivatives trades moving are about to get a major efficiency boost in DeFi, according to Crypto Valley Exchange.Crypto Valley Exchange's "smart clearing" protocol will lower the capital requirements for derivatives traders by setting collateral levels in light of the traded assets' correlations in price. In doing so, it could make DeFi more competitive with the mainstream financial markets crypto trying to replace, according to CEO James Davies.The service is a new take on an age-old problem in DeFi: how to sufficiently mitigate counterparty risk in a trustless environment.Traditional financial markets like CME and NYMEX rely on clearinghouses to be a trusted counterparty for every buyer and seller. They demand some collateral, but hardly 100%. DeFi...
Onyxcoin Rises by 150% as Volume Explodes, Binance Announces Listing
Onyxcoin (XCN), the native token of its namesake's modular blockchain, experienced a major boost over the past 48 hours, bucking the bearish market sentiment with a 150% rise.Daily trading volume averaged around $25 million earlier this week until the token started to rip through levels of resistance. That figure has now ballooned to $600 million, the majority of which took place on Coinbase. The surge in volume and apparent lack of visible catalyst prompted Binance to list XCN futures on its exchange on Friday.Unlike many other Binance listing announcements, the listing did not spur an additional increase in token price, which could indicate that some investors opted to "sell the news," creating a type of equilibrium between new buyers and...
Bosera Hashkey Ether ETF Gains SFC Nod for Ethereum Staking
Hong Kong’s Securities and Futures Commission (SFC) has approved the Bosera Hashkey Ether exchange-traded fund (ETF) to engage in ethereum staking, marking a first for the Asia-Pacific region. Milestone for Hong Kong: Ether ETF Cleared for Staking Activities The Bosera Hashkey Virtual Asset Ether ETF (stock codes: 3009.HK/9009.HK), jointly managed by Bosera International and HashkeySource link
Killing the IRS DeFi Rule Is an Industry Win — But It’s a Temporary One
The United States Congress recently voted to repeal the Internal Revenue Service’s (IRS) controversial decentralized finance (DeFi) broker rule, a big win for crypto. And on Thursday President Trump killed the measure for good.But let’s not fool ourselves — there’s more pain to come.In December 2024, the IRS proposed a broad rule requiring DeFi platforms to follow standard crypto broker tax rules, including extensive user KYC and other disclosures. The crypto industry pushed back immediately, with numerous blockchain groups suing the IRS almost as soon as the rule was announced.DeFi platforms aren’t designed to collect this type of information in the first place, and beyond that, the proposed rule contradicts DeFi’s core goal of protecting privacy while keeping transactions transparent.Thankfully,...
CoinDesk 20 Performance Update: Index Gains 3.5% as All Assets Trade Higher
CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.The CoinDesk 20 is currently trading at 2375.69, up 3.5% (+79.38) since 4 p.m. ET on Thursday.All 20 assets are trading higher.Leaders: SOL (+6.4%) and BCH (+5.3%).Laggards: HBAR (+1.5%) and DOT (+2.4%). The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link