Tether CEO Paolo Ardoino is sounding the alarm on Europe’s financial system, warning that a wave of bank failures could hit the continent in the near future due to the intersection of risky lending and new cryptocurrency rules. Ardoino, during an interview with the Less Noise More Signal podcast, took aim at the European Union’s … Read more
CME Group’s cryptocurrency derivatives market posted a steep increase in trading activity in April, reaching a new average daily volume (ADV) of 183,000 contracts worth $8.9 billion in notional terms, the firm reported. That marks a 129% jump compared to the same month last year, suggesting growing institutional interest in crypto markets. Ether led the … Read more
The IRS, alongside many other regulators, has been pretty active in the crypto world over recent years. On Friday, two directors left. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions. Deferred resignations The narrative Over 20,000 IRS employees accepted … Read more
The IRS lost two key directors working on crypto initiatives, Seth Wilks and Raj Mukherjee, on Friday after they accepted deferred resignation offers directed by the Department of Government Efficiency. Wilks and Mukherjee, who both went to the IRS from the crypto industry, are technically still employees with the IRS for the next few months … Read more
In February, the Department of Government Efficiency (DOGE) began soliciting public input pertaining to the U.S. Securities and Exchange Commission (SEC) — a move suggesting reform at the agency is imminent. Since then, the SEC, in line with President Trump, has taken a far less adversarial stance towards the cryptocurrency industry, as evidenced by the … Read more
This week, bitcoin climbed steadily to reach nearly $100K, amid hopes for a China-U.S. trade and better macroeconomic conditions ahead. Institutions like Mastercard and BlackRock made important digital asset announcements. An historic stablecoin bill neared completion in the U.S. Congress. (A former prime-mover in the House said to expect a “wicked hot summer” of legislation.) … Read more
As the Dubai Token2049 conference concludes, one key takeaway is that the narrative around bitcoin (BTC) is swiftly expanding beyond its traditional role as a store of value to a potential DeFi asset competing with Ethereum and Solana. Prominent industry players like Franklin Templeton view this development as a positive step, confident it will enhance … Read more
Huione Group, the Cambodia-based conglomerate that the U.S. Treasury Department wants to cut out of the U.S. financial system, received $98 billion worth of crypto since 2014 through illicit schemes like money laundering, pig butchering and online scams, according to blockchain security firm Elliptic. The company, which has links to the Asian country’s ruling Hun … Read more
As markets stabilize and bitcoin claws its way back above $100k, Kevin O’Leary – also known as “Mr. Wonderful” – is doubling down on digital assets and calling for clear regulation to unlock crypto’s next chapter. “I consider crypto to be the 12th sector of the economy within five years,” he told CoinDesk in a … Read more
Wall Street analysts are standing firmly behind Strategy’s (MSTR) aggressive escalation of its bitcoin (BTC) acquisition strategy after the company unveiled plans to double its capital-raising ambitions. “While the number of companies that have sought to replicate Strategy’s bitcoin acquisition strategy has continued to grow rapidly … MSTR yesterday issued a reminder of the extent … Read more
