Crypto News

- 'WTF Is Going On?' Fake Kanye West Coins Crash After Real YZY Token Launches Meme coins created to play on purported associations with Ye, formerly known as Kanye West, have crashed after the rapper launched his own official Solana coin. Ye has been flirting with crypto for months, with his interest spawning two notable meme coin communities that adamantly believed they were part of a masterful performance art piece—or an alternate reality game. But holders of Yeezy Coin and Swasticoin found their hopes dashed after the launch of Ye’s YZY Money. As rumors intensified that Ye was about to release his official meme coin, both tokens pumped hard. With Ye's move apparently confirming that neither previous token was part of his plan...

- The upcoming Thanksgiving could bring surprising news to the crypto community if Sen. Cynthia Lummis (R-WY) is to be believed. The digital asset market structure bill will land on President Donald Trump's desk before the end of 2025, Lummis said. “I hope it’s before Thanksgiving.” She was speaking at the Wyoming Blockchain Symposium in Jackson Hole on Aug. 20 when she made the revelation. The Republican camp is attempting to have the bill passed through the Senate Banking Committee by the end of September and considered in the Senate Agriculture Committee in October, Lummis said. These committees will discuss how the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) regulate crypto assets...

- If you’ve ever wondered how Bitcoin actually works—beyond the price charts and celebrity tweets—this one's for you. At The Street Roundtable, Hive Digital Technologies’ Executive Chairman Frank Holmes joined host Fefe Dlamini to explain the nuts and bolts of Bitcoin mining. So what is Bitcoin mining? "Bitcoin mining is like a big guessing game on computers," Holmes explained. "People use powerful computers to solve really hard puzzles. And when they get the answer right, they earn some new—they call them Virgin Bitcoins—as a prize." The process is basically computers racing to solve math problems. Whoever wins gets new Bitcoin, and also gets to help verify recent transactions on the blockchain. That’s important because it keeps...

- Grayscale Adds Private Crypto Strategy to iCapital Marketplace Crypto-focused investment platform Grayscale Investments has made its first actively managed investment strategy available through iCapital. The strategy allocates capital across a curated set of proof-of-stake protocols. Staking involves a process through which investors help validate blockchain network transactions by committing a certain amount of their tokens to the network. In exchange, they earn “staking rewards” from transaction fees. Grayscale’s new strategy features quarterly distributions to investors in an attempt to combine current income with long-term capital appreciation. The company did not disclose the exact type of investment vehicle it is using for...

- Optimism Taps Flashbots to Supercharge OP Stack Sequencing Optimism is teaming up with Flashbots to revamp how transactions get processed across its OP Stack ecosystem, aiming to make some of Ethereum’s most popular layer-2 networks faster and more customizable. The partnership centers on sequencing, the behind-the-scenes process that determines how quickly a transaction confirms, which trades are prioritized, and how much users ultimately pay. Optimism says Flashbots’ infrastructure, which is already responsible for building more than 90% of Ethereum’s blocks, will now bring near-instant confirmations and user-friendly transaction ordering to every chain in the so-called Superchain. This matters because the OP Stack underpins...

- US Consumer Watchdog Kicks Off Redo of 'Open Banking' Rules on Customer Data WASHINGTON (Reuters) - The U.S. Consumer Financial Protection Bureau on Thursday initiated a reevaluation of its "open banking" regulations. These regulations govern consumer control over the sharing of personal data between banks and the growing financial technology sector as both industries dispute proper controls and access. The decision represents a shift amid public pressure from fintech firms and crypto entrepreneurs. The watchdog has posed several questions on the best methods for implementing the consumer data rules — measures that have been 15 years in the making and were part of the 2010 Dodd-Frank financial reform legislation. These rules...

- Fed Watch: Will Jerome Powell Crash the Crypto Party? CoinDesk's discussion focuses on the current state of the crypto market, described as "frothy and nervous." The conversation with Ben Emons, Founder and Chief Investment Officer of FedWatch Advisors, delves into potential outcomes based on the Federal Reserve's actions. Key topics include the potential impact of hawkish or dovish surprises from the Fed and identifying critical resistance zones for bitcoin. This article has been published in CoinDesk via Yahoo News. https://finance.yahoo.com/video/fed-watch-jerome-powell-crash-134303490.html

CME + FanDuel Bring Event Contracts to the Masses Wall Street is meeting Main Street in the betting arena. The prediction market boom is about to begin… What Happened The CME Group and FanDuel are teaming up to launch a new event contracts platform, making it easier for everyday users to bet on markets like the S&P 500, oil, gold, and even crypto. The two will create a joint venture that will offer fully funded, event-based contracts as a part of the initiative. These simple yes/no markets will let FanDuel’s millions of customers trade on major benchmarks and economic indicators for as little as $1. Expected to go live later this year (pending CFTC review), the platform will cover: The contracts will run through a new non-clearing...

- Tether, Circle to Meet South Korea’s Top Banking CEOs as Stablecoin Momentum Mounts Following reports that South Korea is preparing to launch a legal framework for stablecoins, executives from major financial groups in the country are set to meet with leaders from stablecoin giants Tether and Circle Internet Group. Tether issues USDT, while Circle issues USDC, the world’s two largest stablecoins by market capitalization. According to Korean news agency Yonhap, discussions will focus on the potential distribution and use of dollar-pegged stablecoins in South Korea, as well as the issuance of stablecoins backed by the won. The CEO of Shinhan Financial Group, Jin Ok-dong, and Hana Financial Group CEO Ham Young-joo are scheduled to...

- MetaMask Unveils mUSD Stablecoin on Ethereum and Linea, Teases Debit Card Functionality MetaMask officially unveiled its native stablecoin Wednesday, the first of its kind launched by a self-custodial wallet. The token, dubbed mUSD, will be fully integrated with the MetaMask DeFi ecosystem, and will allow users of the dominant Ethereum wallet to easily on- and off-ramp self-custodied cryptocurrencies into dollar-pegged tokens. The stablecoin will be issued by Bridge, a Stripe company, and one-to-one backed by dollar equivalent assets in compliance with the recently passed GENIUS Act. At launch, expected later this year, mUSD will be available in-wallet both on Ethereum and Linea, the layer-2 blockchain developed by MetaMask’s...

- MetaMask’s stablecoin play to double as a revenue generator, exec says MetaMask continues to trickle out new details of its upcoming stablecoin launch, including how mUSD will become a revenue generator for the firm. “MetaMask will benefit from the yield that backs mUSD,” Ajay Mittal, vice president of the wallet provider’s product strategy, told DL News. “A portion of that supports MetaMask, helping us keep improving the wallet and building better features for users.” Mittal added that mUSD, like heavyweight stablecoins such as Tether and Circle, is also backed by cash and US Treasuries. Tether, the largest issuer in the industry, generated nearly $5 billion in net profits the past quarter, thanks in large part to its treasury...

- On Thursday, BNB, previously known as Binance Coin, topped $881, setting a new all-time high price for the cryptocurrency. Thursday’s climb is in keeping with BNB’s steady momentum this year, seemingly overshadowed by the massive gains for the likes of Bitcoin, Ethereum, and XRP. BNB is up 35% in the last 60 days. The fresh all-time high pushes BNB’s market value beyond Solana’s by about $19 billion. BNB remains the fifth-largest cryptocurrency by market value after upstaging Solana amid a 29% price rally in July. It has since pulled back slightly to $852 as of reporting time. Treasury companies flock BNB’s price rally this quarter has come amid an influx of institutional investment into the Binance-linked cryptocurrency...

- SyFu partners with Salt Edge for global card payment data integration SyFu, a project in the DePIN (Decentralised Physical Infrastructure Network) × GameFi space, has partnered with open banking platform Salt Edge to enable card payment data integration across geographies. The collaboration will enable the direct integration of card payment data from over 5,000 banks in more than 50 countries directly into the SyFu app. The SyFu app, which operates within the Web3 space, offers an approach to everyday payment data by turning it into Non-Fungible Tokens (NFTs) and tokens through interactive gaming finance mechanisms. The platform uses a combination of non-custodial wallets, decentralised identities, and Soulbound Tokens to assign...

- Shanghai stock benchmark closes at decade high as fintech, stablecoin shares surge SHANGHAI (Reuters) - Mainland China stocks advanced on Thursday, with the Shanghai benchmark closing at a decade high level, driven by hefty gains in fintech and stablecoin-concept shares after a Reuters report signaled a major shift in Beijing's stance on digital assets. At the close, the Shanghai Composite index was up 0.13% at 3,771.10 points, the loftiest close since August 2015, while the blue-chip CSI300 index gained 0.39%. Fintech and stablecoin-concept shares were among the biggest winners in morning deals, after Reuters reported, citing sources, that China is considering allowing the usage of yuan-backed stablecoins for the first time to...

- Investors don’t like uncertainty, and President Donald Trump has provided plenty of it in the first year of his second term. Reciprocal tariffs, delays, and alliances are some of the many events that have become common in this entertaining soap opera. Some investors like the volatility. People who bought the April dip were greatly rewarded, but other investors prefer stability. This group of investors is willing to sacrifice high long-term gains for less risk and more certainty. They want stable cash flow and low volatility in their portfolios, and this desire tends to pick up momentum for anyone who is approaching retirement. Luckily, some of the top experts have tipped investors off on promising stocks to buy amid Trump’s trade...

- Bitcoin to $1m? Coinbase CEO and Eric Trump are bullish Bitcoin’s believers aren’t backing down. On the back of the top cryptocurrency hitting a new all-time high over $124,000 earlier in August, industry pundits predict that the price is about to go interstellar. Brian Armstrong, the CEO of the $78 billion crypto exchange Coinbase, led the charge this week. “We’ll see $1 million per bitcoin by 2030,” Armstrong wrote. Armstrong, a top institutional voice, is not the first nor the only one to make the bold prediction. Eric Trump, co-founder of crypto miner American Bitcoin, called for $1 million Bitcoin at Jackson Hole on Wednesday, as reported. Last year, BitMEX co-founder Arthur Hayes also targeted $1 million per Bitcoin...

- Bitcoin Traders Jittery Ahead of Powell’s Jackson Hole Speech Digital assets are losing ground as traders brace for Federal Reserve Chair Jerome Powell’s closely watched address at the Jackson Hole Symposium on Friday. Spot Bitcoin and Ether exchange-traded funds in the US have logged four straight sessions of outflows, with investors pulling a net $1.9 billion, according to data compiled by Bloomberg. A broad rally in cryptocurrencies drove Bitcoin (BTC-USD) to a record on Aug. 14, while pushing Ether (ETH-USD) to within touching distance of its own all-time high. That momentum now appears to be dwindling. Options activity shows traders turning defensive. The put-to-call ratio for Aug. 22 contracts jumped to 1.33 on Deribit, the...

- Key Bitcoin Indicators Hint at Bearish Regime Shift as Jackson Hole Nears Key bitcoin (BTC) indicators are signaling a potential shift to a bearish market regime as traders await Federal Reserve Chairman Jerome Powell's remarks at the Jackson Hole Symposium. The first one is the 180-day call-put skew derived from options trading on Deribit, the largest crypto options exchange by volume and open interest. As of writing, the 180-day skew was negative 0.42, the lowest since June 2023, according to data source Amberdata. A negative call-put skew suggests that traders are pricing in greater demand for put options (which offer protection against price declines) relative to call options. The data can be interpreted as rising market...

- Kanye tweets ‘Yeezy Money is here’ as YZY token crashes 70% post-launch Chicago rapper Kanye West is no stranger to crashing stages, headlines, and fashion weeks. Now, he’s seemingly adding crypto to the list. On Thursday morning, following a tweet from West’s official account linking to a site branded “Yeezy Money,” a token called YZY rocketed to a market cap of $410 million within an hour of launch. In the hours that followed, it tumbled back to about $140 million — a drop of nearly 70%. The barebones site lays out a vision for a supposed new financial system branded YZY Money. The page details spinoff products like Ye Pay, a payments processor pitched as a cheaper alternative to card networks, and the YZY Card, described as a...

- Dogecoin rebounded sharply from $0.21 lows, closing at $0.22 after a late-session surge in volume and aggressive whale accumulation, even as security risks from Qubic’s attack threat linger. News Background Price Action Summary Technical Analysis What Traders Are Watching This article has been published in benzinga.com via Yahoo News. https://finance.yahoo.com/news/whale-accumulation-drives-dogecoin-v-054511937.html