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Key Highlights
A Cambridge study finds Bitcoin's network is resilient to random submarine cable failures (requiring 72-92% simultaneous failure for significant disruption) but vulnerable to targeted attacks on key chokepoints or top hosting providers. 20 posts
XRP Ledger activity surges to over 2.7 million daily payments, but XRP token price remains 62% below its 2025 high, highlighting a disconnect between network usage and token value. 2 posts
Circle's USDC overtakes Tether's USDT in transaction volumes for the first time since 2019, with $2.2 trillion year-to-date vs. $1.3 trillion for USDT. 1 post
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Latest posts
Bitmine's Ethereum bet nears $9 billion loss as ether falls below $1,800
Tom Lee, chairman of Bitmine and cofounder of Fundstrat, speaking at Consensus 2026 in Miami (CoinDesk) What to know: Bitmine, the largest Ethereum treasury firm, is sitting on an estimated $8.9 billion in unrealized losses as ETH fell below $1,800 in the latest crypto pullback. The company’s shar
New DeFi entrant widens field of crypto political campaign funds as elections loom
A new political action committee has been announced that will aim to support legal shields for crypto developers. (illustration by Jesse Hamilton/CoinDesk) What to know: A new political action committee called Defend Developers has been established, joining the ranks of other crypto PACs such as F
Bitcoin isn't crashing because of Saylor, it's losing the momentum trade
(Michael M. Santiago/Getty Images) What to know: Bitcoin’s recent underperformance is less about fading institutional demand or Michael Saylor’s sales and more about losing its status as the market’s dominant momentum trade, according to Charles Schwab director of digital currencies research and s
Crypto Long & Short: What about the American consumer?
(Greg Pappas/ Unsplash) What to know: You're reading Crypto Long & Short, our weekly newsletter featuring insights, news and analysis for the professional investor. Sign up here to get it in your inbox every Wednesday. You're reading Crypto Long & Short, our weekly newsletter featuring insights
Every single bank will soon need to hold digital assets, says Zodia CEO Julian Sawyer
Zodia Custody CEO Julian Sawyer says sale of his firm to a Tradfi entity is a huge win for the crypto industry. Zodia Custody CEO Julian Sawyer (Olivier Acuna/CoinDesk) What to know: Standard Chartered is set to fully acquire Zodia Custody by the end of August, folding its digital custody operatio
Rare physical bitcoin worth $1.78 million gets cashed in after 12 years
Michael Caldwell's physical bitcoin Casascius coins (casascius.com) What to know: A rare 25-bitcoin Casascius physical coin, minted between 2011 and 2013, was peeled this week and its 25 BTC—worth about $1.78 million—were moved to a new wallet. Casascius coins, created by software engineer Mike Ca
Bitcoin's dearth of fresh investors matters more than Strategy's sale, Citi says
Strategy Executive Chairman Michael Saylor. (CoinDesk) What to know: Citi said Strategy's recent bitcoin sale was part of a previously disclosed tax-optimization plan and does not alter the firm's broader strategy. The bank estimated spot bitcoin ETF flows explain roughly 45% of weekly BTC price m
Bitwise model puts bitcoin fair value at $224,000 as sovereign-default hedge
What to know: A Bitwise Europe report estimates a theoretical fair value of about $224,000 per coin, while stressing this is an illustrative figure rather than a price target. The report argues that rising sovereign stress—highlighted by record Japanese bond yields, elevated sovereign risk premia
CoinDesk 20 performance update: Bitcoin Cash (BCH) falls 10.7%, leading index lower
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 1862.4, down 0.6% (-11.0) since 4 p.m. ET on Tuesday. Fifteen of the 20 assets are trading higher. Leaders: NEAR (+15.1%) and X
Kraken parent Payward plans to offer tokenized IPO access as investors await blockbuster debuts
Payward and Kraken co-CEO Arjun Sethi (CoinDesk) What to know: Payward, the parent of crypto exchange Kraken, plans to let retail investors buy into U.S.-listed IPOs at the same offering price as institutional investors through tokenized shares. Under the xStocks framework, IPO allocations will be
IREN adds 4% premarket as company unveils 800MW Australian AI data center campus
What to know: IREN announced plans for an 800MW data center campus in South Australia, one of the largest AI infrastructure projects announced in the Asia-Pacific region. Shares rose about 4% in pre-market trading. IREN announced plans for an 800MW data center campus in South Australia, one of
Clarity Act survival depends on the U.S. Senate getting a lot of non-crypto work done
The U.S. Senate has very little time left to pass the Clarity Act and a lot of other bills to deal with. (Jesse Hamilton/CoinDesk) What to know: As the crypto Clarity Act took a procedural step toward the U.S. Senate floor this week, the bill still faces serious roadblocks, including some contenti
Live markets: bitcoin hits weakest level since late March as selling continues
null Disclosure & Polices: CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its pub
Bitcoin hits Power Law level low that historically precedes a rebound
Power Law (Checkonchain) What to know: Bitcoin's decline below $66,000 has pushed it to the lower boundary of the Power Law corridor, a long-term valuation model that has contained price action for more than a decade. The Power Law Oscillator has fallen to 4.4%, indicating that bitcoin is priced c
Grayscale launches lowest-fee U.S. Hyperliquid ETF as competition heats up around HYPE
What to know: Grayscale said Wednesday it launched the Grayscale Hyperliquid Staking ETF (HYPG) on Nasdaq with a 0.29% sponsor fee, undercutting rival Hyperliquid funds from 21Shares and Bitwise. HYPG seeks to provide exposure to the HYPE token while generating additional returns through staking,
Payment giants Stripe, Visa, Mastercard said to be among backers of soon-to-debut stablecoin platform
What to know: Stablecoins are a focal point for the large card networks, with Stripe acquiring Bridge in 2024 and Mastercard buying BVNK earlier this year. Late last year, Coinbase announced a white-label stablecoin service, as well as the Coinbase Business service for stablecoin payments. Sta
Crypto PACs go undefeated in June primaries as Fairshake scores bipartisan winning streak
What to know: Crypto-backed super PACs aligned with Fairshake saw all 11 of their endorsed candidates advance or win in Tuesday’s primaries, extending the industry’s recent electoral winning streak. The victories, spanning key races in California, New Jersey and South Dakota, highlight a strategy
Bitcoin momentum gauge hints at recovery. Experts remain cautious.
'Blood is in the water,' some analysts warn as RSI gauge suggests a rebound. (Gerald Schombs/Unsplash) What to know: This is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here, if you haven't already. This is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here, if you haven't a
Bitcoin steadies at $67,000, faces critical juncture after sliding 9.5% in seven days
Bitcoin price (CoinDesk Data) What to know: Bitcoin's 0.7% recovery on Wednesday does little to paper over a 9.5% seven-day decline, leaving it back in the range it traded between February and April even as U.S. stocks push to record highs. Ethena (ENA) surged more than 20% in 24 hours after Coinb
Apparent Zcash outage was a block explorer problem, infrastructure provider says
(Unsplash) What to know: The Zcash blockchain supposedly stopped producing new blocks for more than four hours on Wednesday. One expert, however, said that the issue was mainly with block explorers tracking the activity rather than the blockchain itself. The Zcash blockchain supposedly stoppe
UK's financial watchdog cracks down on Premier League crypto partnerships
(Alex Livesey/Danehouse/Getty Images) What to know: Premier League soccer clubs have been warned by the U.K.'s Financial Conduct Authority about sponsorship deals with unauthorized crypto firms. Clubs enabling such promotions could be exposed to legal liability, money laundering and reputational d
Trezor says your crypto is safe after Ledger audit exposes a hardware flaw
What to know: Trezor disclosed a security flaw in the TROPIC01 chip used in its Safe 7 hardware wallet after Ledger's Donjon security team identified a successful laboratory attack, but the company says the vulnerability does not put user funds at risk. The flaw affects only one of the wallet's mu
DeFi won't win over big banks until it fixes its hacking problem, executives say
The panel at Proof of Talk in Paris. (Olivier Acuna/CoinDesk) What to know: Industry executives say DeFi’s long-term value lies in overhauling banks’ back-office operations rather than in speculative trading. Institutional capital will remain sidelined, however, until DeFi addresses persistent sec
Banks' survey says people don't want to rock the boat if stablecoin yield risks lending
The American Bankers Association commissioned a survey to back up its argument that stablecoin yield may be a threat to bank deposits. (Peter Macdiarmid/Getty Images) What to know: The American Bankers Association commissioned a poll to back up its opposition to stablecoin yield, which the group s
Franklin Templeton says Wall Street fears blockchain because it threatens its profits
Blockstream's Adam Back and Franklin Templeton's Jenny Johnson participated in a Proof of Talk panel in Paris 2026. (Olivier Acuna/CoinDesk) What to know: Franklin Templeton CEO Jenny Johnson said major financial firms are slow to adopt public blockchains because the technology threatens lucrative