Crypto News
BlackRock’s Bitcoin ETF Drops Most in 4 Months Amid Quantum Computing FUD
BlackRock's spot bitcoin (BTC) exchange-traded fund (ETF), tickered IBIT on Nasdaq, dropped on Tuesday as the overheated crypto market cooled and unfounded concern that bitcoin's security might be compromised by quantum computing percolated across social media.IBIT's price fell 5.3% to $54.73, the biggest single-day drop since early August, according to data source Investing.com. The bitcoin price fell over 4%, hitting lows under $94,300, as overleveraged altcoin traders were liquidated, leading to bigger losses in the broader market.While such pullbacks are typical in a bull market, Monday's losses are noteworthy because they came alongside Google's announcement of its Willow quantum-computing chip, which can solve in just five minutes a problem that would take the world's fastest supercomputers 10 septillion years to...
Stacks to Launch SBTC in Boost to Bitcoin Defi Ecosystem
Stacks continues to push the boundaries of possibilities on Bitcoin with a planned launch of SBTC. SBTC to Promote Bitcoin Defi Ecosystem Stacks, a Bitcoin layer two (L2) platform recently teased the impending launch of SBTC, a 1:1 bitcoin-backed asset designed to bridge bitcoin with decentralized finance (defi) and Web3. This was stated in anSource link
Latam Insights Encore: Bolivia’s Dollar-Starved Economy Calls for Stablecoin Help
Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency news from last week. In this edition, we explore how stablecoins might help re-energize the Bolivian economy, facing a dollar scarcity period due to its fixed exchange rate. Latam Insights Encore: Stablecoins Might Help Bolivia Move Its Stalled EconomySource link
EU Countries Struggle to Implement MiCA as Deadline for Crypto Regulatory Revamp Looms
The European Union’s wide-ranging regulatory regime for cryptocurrency firms, the Markets in Crypto Assets (MiCA), is set to take effect at year-end, but, with just three weeks to go, almost a quarter of the 27 countries that constitute the bloc aren't ready.For the regulation to apply in the country, EU members have to align local laws with MiCA. Those yet to do so include Belgium, Italy, Poland, Portugal, Luxembourg and Romania, according to a document created by the Electronic Money Association, a trade body, which was shared with CoinDesk.Trade associations representing the crypto industry say this state of unreadiness is being taken too lightly by overarching authorities at the European Commission and European Securities and Markets Authority (ESMA), which are...
Derive Protocol Crosses $100M in Value Locked as Bitcoin Whales Make Waves in Options Trading
It's raining options, CoinDesk said last week, pointing to growing demand for derivatives tied to bitcoin (BTC) and other cryptocurrencies. Now, additional evidence has emerged in the form of record activity on decentralized finance (DeFi), which offers unique and programmable onchain options, perpetuals, and structured products.The total dollar value of crypto tokens locked (TVL) on Derive has risen past $100 million, alongside a record-setting trading volume and monthly active traders.“Derive.xyz's latest market insights reveal remarkable growth and heightened activity, with its total value locked surpassing $100 million for the first time, amid record-setting weeks for trading volume and active traders," Sean Dawson, head of research at Derive, told CoinDesk in an email.“Yield on all USDC deposits has reached 10% on...