Crypto News
MEXC Pushes into Southeast Asia With Deal Valuing Indonesian Exchange at $200 Million
Structured as equity, the investment marks MEXC’s push into the region amid growing institutional interest in Indonesia's maturing crypto space.Source link
$333 Million Exits Bitcoin ETFs With Record Outflow of $465 Million for Ether ETFs
Bitcoin exchange-traded funds (ETFs) faced a $333 million setback as ether ETFs posted their largest single-day exit on record with $465 million in outflows, signaling a sharp shift in investor sentiment. Combined, the crypto ETF market lost nearly $800 million in one trading session. Crypto ETF Sell-Off: Bitcoin and Ether Funds Post $798 Million CombinedSource link
Galaxy Digital Slips 8% Post-Earnings as Investors Take Profits Following Big Run Higher
A modestly hot name since obtaining a U.S. listing on the Nasdaq a few months back, Galaxy Digital (GLXY) is seeing some selling after posting second quarter earnings on Tuesday morning.Global Markets revenue rose 28% quarter-over-quarter to $55.4 million despite a 22% decline in trading volumes, as Galaxy outperformed broader market trends, said brokerage KBW. The firm’s average loan book grew to $1.1 billion versus peer Coinbase’s (COIN) hitting $879 million.Assets on Galaxy’s platform rose 27% to $8.9 billion, though adjusted gross profit in asset management fell 26% due to lower on-chain activity. As expected, CoreWeave also exercised its final option to access an additional 133MW of compute at Helios, bringing the site’s total committed capacity to 800MW, the report...
Coinbase Reveals Private Sale of $2 Billion in Convertible Notes
Coinbase Global Inc. revealed Tuesday it’s gearing up to raise $2 billion through a private sale of convertible senior notes. Proceeds Targeted for Capped Calls, Expansion, Acquisitions and Fresh Investments The crypto firm, Coinbase Global Inc. (Nasdaq: COIN) plans to issue $1 billion in notes maturing in 2029 and another $1 billion maturing in 2032.Source link
U.S. CFTC Considers Allowing Spot Crypto Trading on Registered Futures Exchanges
The U.S. Commodity Futures Trading Commission (CFTC) said it is looking to allow the trading of spot crypto contracts on registered exchanges and is seeking input from stakeholders as it looks to implement President Donald Trump's crypto ambitions.The agency wants stakeholders to work with it to provide regulatory clarity on listing spot crypto asset contracts on a CFTC registered futures exchange — also known as a designated contract market (DCM), one of the types of licenses the CFTC administers, Acting Chairman Caroline Pham said in a Monday statement."Starting today, we invite all stakeholders to work with us on providing regulatory clarity on how to list spot crypto asset contracts on a DCM using our existing authority, as I have previously...