Crypto News

- Exclusive-India Resists Full Crypto Framework, Fears Systemic Risks, Document Shows India is leaning towards not creating legislation to regulate cryptocurrencies in the country and instead will maintain partial oversight, fearing that bringing the digital assets into its mainstream financial system could raise systemic risks, a government document shows. The document cites the Reserve Bank of India's (RBI) view that, in practice, containing the risks of cryptocurrencies through regulation would be difficult. Global acceptance of cryptocurrencies has improved since U.S. President Donald Trump took office, and prices of bitcoin, the world's largest crypto-asset by market capitalisation, have hit record highs. The U.S. has also...

XRP Is Down 23% From Its Peak. Will It Continue to Drop? Cryptocurrency first hit the public eye with the creation of Bitcoin in January 2009. It was a huge milestone, becoming the world's first decentralized cryptocurrency. At first, Bitcoin was viewed as just another experiment for tech enthusiasts, but now it's recognized as a way to store value and as an investable asset. Since then, there have been huge numbers of cryptocurrencies created. I would argue that many are nothing more than just speculative tokens designed to make their creators and early insiders lots of money. However, there are a handful that have real use cases. One of the cryptocurrencies that falls into the latter category is XRP (CRYPTO: XRP). XRP was launched...

- Cardano (CRYPTO: ADA) founder Charles Hoskinson said in an interview aired Tuesday that the “Magnificent Seven” tech giants could drive cryptocurrency’s next phase of growth. ‘Mag 7’ Giants Encouraged After Pro-Crypto Bills Passage Speaking to CoinDesk, Hoskinson said that most of the liquidity remains in traditional finance and that cryptocurrency legislation such as the GENIUS Act and the CLARITY Act will accelerate their push into blockchain-based technology. “When you look at the Genius Act and the Clarity Act, soon to come, all the big guys are gonna come in, not just the big banks, but also the Mag 7,” he added. Hoskinson pointed out that TradFi giants like Microsoft Corp., Amazon.com Inc., and Alphabet Inc.’s Google are...

- “There’s No Greater Bank” Than JPMorgan Chase & Co. (JPM), Says Jim Cramer JPMorgan Chase & Co. (NYSE:JPM) is one of the stocks Jim Cramer recently discussed. Despite being one of the largest banks in the world and a key pillar of the US and global financial system, Cramer doesn’t frequently discuss JPMorgan Chase & Co. (NYSE:JPM). The bank’s shares have gained 22% year-to-date, aided by increased trading activity that has improved the firm’s bottom line. For instance, JPMorgan Chase & Co. (NYSE:JPM)’s second-quarter earnings included a $1 billion increase in its 2025 net interest income forecast and a 7% growth in investment banking fees to $2.5 billion. Cramer discussed JPMorgan Chase & Co. (NYSE:JPM) after discussing Goldman...

- DOGE ETF To Launch as First US Fund to Hold Asset With 'No Utility' A first-of-its-kind Dogecoin exchange-traded fund is set to hit U.S. markets on Thursday, with Bloomberg’s Eric Balchunas flagging the Rex-Osprey Doge ETF (ticker: DOJE) as the launch vehicle. "Pretty sure this is first-ever U.S. ETF to hold something that has no utility on purpose," Balchunas tweeted Tuesday, announcing the fund's debut.  The fund is expected to list using the Investment Company Act of 1940 framework that REX-Osprey previously used for its SOL + Staking ETF (SSK). Ganesh Mahidhar, investment professional at Further Ventures, noted that "ETFs under the Investment Company Act of 1940 have mandates around diversification and more governance...

- Asia Morning Briefing: Bitcoin’s Calm Masks Market Tension Ahead of Fed and CPI Good Morning, Asia. Here's what's making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. BTC is pinned near $111,000 with volatility compressed to multi-month lows, the kind of calm that tends to precede decisive moves. Traders know what could break the lull: September’s U.S. inflation data and the Fed’s rate decision a week later. Prediction markets are leaning heavily toward easing. Polymarket bettors are assigning an 82% chance of a 25-basis-point cut on Sept. 17, leaving only slim odds for a deeper move or no change. Beyond that, October...

- GameStop Posts Narrower Loss in Q2 as Bitcoin Holdings Lift Balance Sheet GameStop narrowed its quarterly loss after booking $528 million of Bitcoin on its balance sheet, a move that ranks among the largest corporate wagers on the crypto. The Grapevine, Texas-based company reported a net loss of $18.5 million for the quarter ended August 2, compared with a $44.8 million profit in the prior three months. Revenue slipped to $673.9 million from $732.4 million in the previous quarter, weighed by declines in hardware and software sales. GameStop disclosed that it purchased 4,710 BTC during the quarter at a cost of $500 million, in line with an investment policy adopted earlier this year. The holdings were valued at $528.6 million at...

- MicroStrategy’s $71B treasury tops Apple, Tesla as stock slides 26% Key takeaway: Michael Saylor’s company, formerly known as MicroStrategy, now holds more Bitcoin than the cash reserves of several of the world’s largest tech giants. What happened Strategy Inc disclosed in a Sept. 8 filing that its Bitcoin holdings have reached 638,460 BTC, worth about $71 billion. This puts the company fifth among the world’s largest corporate treasuries, above Nvidia ($57B), Apple ($55B), Meta ($47B), and Tesla ($37B). Only Microsoft, Google, Amazon, and Berkshire Hathaway sit higher on the list. Unlike those firms, Strategy’s treasury is made up entirely of Bitcoin, not cash or bonds. Fresh $217M purchase Alongside the update, Strategy said...

- Fidelity has launched the Fidelity Digital Interest Token (FDIT), an on-chain money market fund backed primarily by U.S. Treasuries from Ondo Finance's Short-Term U.S. Treasuries Fund (OUSG), serving as the main anchor and largest investor. According to Ondo, OUSG currently constitutes more than 99% of FDIT assets. This launch marks another significant step in the ongoing efforts by major asset managers to tokenize traditional financial products. Fidelity now aligns with companies like BlackRock, Franklin Templeton, and WisdomTree in providing tokenized money market or Treasury funds, indicating the swift shift of real-world assets into mainstream finance. Ondo's role in the tokenization momentum Ondo Finance has been leading...

- Stock Market Today: MARA Gains on Bitcoin Revenue Milestone MARA Holdings (NASDAQ: MARA) rose 4.8% Tuesday to close at $15.93. Trading volume reached 70.3 million shares, well above its three-month average of 47.5 million, reflecting strong investor interest in cryptocurrency-related stocks amid a broader market rise. The S&P 500 (SNPINDEX: ^GSPC) gained 0.3% to 6,512.61 and the Nasdaq Composite (NASDAQINDEX: ^IXIC) added 0.4% to 21,879.49. Cryptocurrency peers also rallied: Riot Platforms (NASDAQ: RIOT) jumped 13.2% to $15.21, and Terawulf Inc(NASDAQ: WULF) climbed 12% to $10.30. MARA's move was aligned with sector momentum. MARA's quarterly results back at the end of July highlighted the upside of a strong Bitcoin (CRYPTO: BTC)...

- QMMM Stock Skyrockets Nearly 1,750% on Bitcoin, Ethereum, Solana Treasury Plan Shares in digital advertising firm QMMM Holdings (QMMM) skyrocketed more than 2,300% at one point on Tuesday after the firm announced that it would create a $100 million digital assets treasury starting with Bitcoin, Ethereum, and Solana. QMMM, which trades on the Nasdaq, closed the day changing hands at $207—a 1,736% increase since the day’s opening bell. “The global adoption of digital assets and blockchain technology is accelerating at an unprecedented pace,” said company CEO Bun Kwai in a statement. “QMMM’s entry into this space reflects our commitment to technological innovation and our vision to bridge the digital economy with real-world...

- Analyst predicts massive upside for Robinhood post S&P 500 inclusion Robinhood's debut on the S&P 500 has Bernstein analysts dubbing the trading platform an emerging "super-app" with considerable room to grow, with new markets ranging from retail trading to tokenization on the blockchain. In a Tuesday note to clients, Bernstein analysts said that Robinhood has matured beyond its branding as a meme-stock and crypto trading haven, pointing to accelerating market share gains across asset classes. The firm values Robinhood at $160 a share, which represents a 36% upside from its closing price of $117.28 on Monday, a gain of 15.8% because of the index inclusion news, as per reports. S&P 500 entry and market share gains Robinhood was...

- Here’s Why Cathie Wood Was Right About Coinbase (COIN) In February 2024, Ark Invest CEO and CIO Cathie Wood explained why she is bullish on Coinbase and praised the company’s execution. Here is what she said at the time. Cathie Wood’s ARK owns 2.6 million shares of the company as of the end of the June quarter. It’s ARK’s second biggest position. Coinbase has gained about 93% over the past year. Patient Capital Management stated the following regarding Coinbase Global, Inc. (NASDAQ:COIN) in its Q4 2024 investor letter: While we acknowledge the potential of COIN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. This article...

- EasyJet Founder Creates EasyBitcoin to Cut Costs Stelios Haji-Ioannou is trying to slash fees in cryptocurrency trading with EasyBitcoin, a new platform launching this month after a brand licensing deal with Uphold. CEO Simon McLoughlin explains the significance of this app on 'Bloomberg Crypto.' This article has been published in [Bloomberg] via Yahoo News. https://finance.yahoo.com/video/easyjet-founder-creates-easybitcoin-cut-200159511.html

- Ethena Labs, makers of the synthetic-dollar protocol, cast its name into the USDH ring on Tuesday, presenting itself as a potential suitor for issuing Hyperliquid’s stablecoin. The decentralized exchange and layer-1 network is currently being powered by Circle’s USDC and Tether’s USDT, but Hyperliquid’s community is currently soliciting proposals on a “Hyperliquid-aligned” stablecoin that could serve as an alternative. Proposals have already been penned by entities including stablecoin issuer Paxos and World Liberty Financial, the decentralized finance project backed by U.S. President Donald Trump, but Ethena’s proposal emphasizes that its support would also come with that of its partners. Ethena flexed partnerships with Anchorage...

- Cboe to Debut Continuous Bitcoin, Ethereum Futures for US Customers Derivatives exchange Cboe plans to introduce continuous Bitcoin and Ethereum futures for U.S. customers in November, pending regulatory approval. Futures typically expire every month but Cboe said these contracts will last 10 years to give investors "continuous long-term market" access to the two biggest digital coins by market cap. "Perpetual-style futures have gained strong adoption in offshore markets," Catherine Clay, Global Head of Derivatives at Cboe, said in a statement. Futures are contracts that allow investors to bet on the future price movements of an asset. Perpetual futures—futures without an expiration date—already trade in other countries. "Now...

- "Don't want your company to be a penny stock anymore? Buy crypto." Buying a boatload of crypto is turning out to be a great way for companies to juice their stock prices. This week alone provides two pretty stunning examples of the trend. First, there was Eightco Holdings, a little-known company that saw its stock price explode on Monday after announcing that it would amass a trove of Worldcoin, the crypto issued by the eyeball-scanning Sam Altman venture. Shares rose as much as 5,600% before paring that to a more modest 3,000%. Then on Tuesday, another relatively unknown company rocketed higher on a plan to buy crypto. Shares of Caliber Companies, an asset manager that says it largely focuses on commercial real estate, shot up as...

- Back in 2009, when bitcoin was created, most people wondered whether cryptocurrency was just a phase. Now, more than 15 years later, many are wondering whether they can still get in on this highly profitable work. Mining or validating crypto transactions in exchange for newly minted cryptocurrency has earned some early miners millions in bitcoin and other cryptocurrencies. Today, while the work is not quite as profitable, you could still make a good profit from the laborious task of solving complex mathematical problems to add transactions to the blockchain. GOBankingRates talked to experts in their field to find out just how profitable crypto mining can be — here’s what they had to say. Yes, Mining Is Still Profitable Mining is...

- Wharton professor issues gruesome warning on Bitcoin Jeremy Siegel, a Wharton Business School professor and the chief economist at the investment management firm WisdomTree, stated to CNBC that Bitcoin may turn out to be a serious competitor to the U.S. dollar as the world's reserve currency. Speaking on the GENIUS Act, Siegel said, Bitcoin is 'a threat'. The GENIUS Act, enacted July 18 with bipartisan backing, demands a complete stablecoin regulatory framework. Bitcoin could rival the euro The professor also stated that while there is an ongoing push by the U.S. legislative branch to regulate digital assets, he believes parts of the pending crypto bill are "important catalysts" for the industry. He also said the components that...

- Reframed the Crypto Discussion to Trump KindlyMD CEO and Chairman David Bailey explains how he reframed the crypto discussion to President Donald Trump that led him to become a believer in bitcoin. He speaks with Scarlet Fu and Matt Miller on 'Bloomberg Crypto.' This article has been published in bloomberg.com via Yahoo News. https://finance.yahoo.com/video/reframed-crypto-discussion-trump-david-190354261.html