What Happens to Bitcoin If Nasdaq Falls Further?

Bitcoin (BTC) traders said that BTC holding above the $60,000 psychological support over the weekend was important as it recovered 6.5% from a local low near $59,100 to an intraday high of around $62,950 on Sunday. Key takeaways: BTC is eyeing a rally toward $92,630 if it continues to hold above a key moving-average support….

A quick review of the Ways and Means tax bills: State of Crypto

The House Ways and Means Committee circulated seven draft bills ahead of this week’s hearing on crypto tax policy, signaling what the industry can expect. 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. The narrative The House Ways and…

Saylor Sets Sunday BTC Signal as Dividend Proxy Deadline Nears

Strategy watchers were not disappointed on Sunday as executive chairman Michael Saylor took to social media to signal pending news on changes in the company’s Bitcoin holdings, hours ahead of the final tally of shareholder votes on a proxy measure that would see the company pay dividends twice a month on its preferred STRC shares….

CFTC Chair Claims Gemini Case was Politically Motivated, Seeks to Reverse Settlement

Update (June 2 at 9:35 pm UTC): This article has been updated to include a response from the CFTC. US Commodity Futures Trading Commission (CFTC) Chair Michael Selig is claiming that the agency under former President Joe Biden “politically targeted” the co-founders of cryptocurrency exchange Gemini through enforcement actions. In a Tuesday CNBC interview, Selig…

Abra CEO Bill Barhydt sees tokenization overtaking bitcoin price as crypto’s main story

Bill Barhydt built Abra around a simple idea: Crypto should function like a bank. In 2018, Abra became one of the first companies to offer what Barhydt describes as a full crypto banking service, allowing customers to trade, earn, borrow and make payments from a single platform. Eight years later, as the company prepares to…

Bitcoin 2026 Bear Market Needs Months to Spark Capitulation Bottom

Bitcoin (BTC) threatens to “purge further” as realized losses in the 2026 bear market fail to beat records. Key points: Bitcoin realized losses have not yet surpassed the 2022 total despite market cap being higher. History suggests that a fresh round of capitulation should occur before a bear-market bottom appears. Retail investor conviction is still…

Crypto PACs Gear up for Maryland Races with $3M Media Buys as California Primaries Kick Off

While residents of California, Iowa, Montana, New Jersey, New Mexico and South Dakota are voting today in Democratic and Republican Congressional primaries, the cryptocurrency industry is more focused on the Maryland primaries later this month. According to filings with the US Federal Election Commission (FEC) as of Tuesday, the Coinbase- and Ripple-backed political action committee…

Bitcoin ETF Sell-Off Hits 13 Days With $4.4B Outflows

US-listed spot Bitcoin exchange-traded funds (ETFs) extended their sell-off Wednesday to a record 13 consecutive trading days as Bitcoin demand continued to weaken. Spot Bitcoin ETFs posted $396.6 million in net outflows on Wednesday, bringing cumulative withdrawals to roughly $4.4 billion since the streak began, according to data from SoSoValue. The current run exceeds the…

Meta is paying creators in Stablecoins. Spending them is someone else’s problem

In March, when Meta announced plans to begin paying creators in USDC across Colombia and the Philippines, with expansion to more than 160 countries expected by the end of the year, the move was widely interpreted as another milestone for stablecoins entering the financial mainstream. A company responsible for nearly $3 billion in annual creator…

US Lawmakers Push Back on Labor Dept’s Plans to Include Crypto in 401(k)s

[Correction: In the second paragraph, the letter from lawmakers was dated Monday, June 1.] Top Democrats on three House and Senate committees called on the US Labor Department to halt its plans to allow digital assets and “alternative assets” to be held in Americans’ retirement plans.  In a Monday letter, Senator Bernie Sanders, Senator Elizabeth…