New York City’s Comptroller has dismissed a plan by Mayor Eric Adams to back municipal bonds with bitcoin BTC, calling it “legally dubious and fiscally irresponsible.” Comptroller Brad Lander, who co-manages the city’s debt issuance, rejected the proposal just days after Adams pitched the so-called “BitBond” to a crowd at a bitcoin conference in Las … Read more
Toncoin TON took a sharp dive in the last 24-hours, falling more than 7% from $3.319 to a low just under the $3 mark after as excitement around a rumored Telegram partnership with Elon Musk’s xAI reversed course. The plunge is the continuation of one that started shortly after Telegram CEO Pavel Durov hinted at … Read more
Coinbase won’t call customers to warn them that their accounts may have been compromised. It’s a common scam vector. Still, someone tried it on me. 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. Account compromise The narrative Last weekend, … Read more
XRP fell as much as 6% over the past 24 hours as global economic tensions rattled financial markets, triggering a wave of liquidations and pushing prices below key support levels. The token dropped from $2.20 to $2.14 as the broader crypto market shed 3.81% of its value, settling at a total market cap of $3.3 … Read more
Solana (SOL) fell more than 5% over the past 24 hours, rattled by geopolitical tensions and waning memecoin activity on its network. The token dropped from $163.72 to a low of $154.99 as a combination of market uncertainty and declining network revenue put pressure on its price. The decline coincides with a broader crypto market … Read more
Binance Coin (BNB) dropped nearly 4% over the past 24 hours, rattled by renewed global trade tensions and broad market volatility that overshadowed positive regulatory news. The token fell from $672.53 to a low of $646.27, with selling accelerating during high-volume trading hours as traders reacted to macroeconomic developments. News Background President Trump’s announcement of … Read more
AAVE has demonstrated remarkable resilience in the face of global market turbulence, rebounding from a 15% price drop over four days as buyers stepped in to capitalize on DeFi’s growing momentum. The protocol’s price climbed from $240 to above $250, buoyed by expanding tokenized yield markets that are drawing increased institutional and retail interest. The … Read more
Cryptocurrencies started the weekend in red with Dogecoin (DOGE) down over 8% to lead losses among majors and Pepe (PEPE) shedding 12%. Bitcoin fell over 2% to under $104,000 and traded just over $103,600 in Asian afternoon hours Saturday, while the CoinDesk 20 index slumped 4.2% in the past 24 hours. Ether (ETH) fell nearly … Read more
Crypto markets saw a wave of liquidations in the past 24 hours as bitcoin (BTC) prices slipped under $104,000, triggering over $600 million in forced closures of bullish futures positions to mark the highest losses since February. A total of $688 million in liquidations hit traders, with 89% of them on the long side — … Read more
A senior Democrat in the House of Representatives, Jamie Raskin, joined his name to lawmakers seeking answers about President Donald Trump’s recent dinner for top investors in his memecoin, sending questions directly to Trump. Raskin, the ranking Democrat on the House Judiciary Committee, has been a vocal critic of the president and becomes the latest … Read more
