MoneyGram Launches MGUSD Stablecoin for Remittance Network

MoneyGram launched MGUSD, a US dollar stablecoin on Stellar, as the remittance company deepens its push into blockchain-based cross-border payments. The company said Tuesday that MGUSD will be integrated into the MoneyGram app through a self-custodial wallet, allowing users to hold dollar-denominated balances, move funds globally and convert into local currencies. The stablecoin initially launched…

Bitcoin (BTC) faces an ‘identity crisis’ and DeFi devs need to stop acting like tech bros

The cryptocurrency market is enduring a sharp narrative shift, but the real growth is happening away from the spotlight, according to the co-founder of Solana-native yield protocol Solstice Labs. Ben Nadareski argued that the industry’s biggest asset is experiencing structural confusion in an interview with CoinDesk on Tuesday. “Bitcoin BTC$67,489.55 is going through a bit…

EdgeX Blames Outsider for EDGE Token Crash as ZachXBT Alleges Insider Manipulation

Decentralized exchange edgeX has attributed a more than 40% collapse in its EDGE token to ‘deliberate’ market manipulation by an unnamed external party, a claim that onchain investigator ZachXBT has dismissed. Data from CoinMarketCap shows edgeX (EDGE) plunged from roughly $1.20 to an intra-day low of $0.3663 on Tuesday, a drop of around 70%. The…

Capital B Seeks $122B Funding Mandate for Bitcoin Buys

France-listed Bitcoin treasury company Capital B is asking shareholders to approve a massive new delegation of fresh capital-raising instruments, seeking authority to issue new equity and credit instruments to accelerate Bitcoin acquisitions. Capital B submitted a new proposal to the board of directors seeking to allow the establishment of up to 5 billion euros ($5.8…

Bitcoin’s biggest ETF selloff yet hits $3.4 billion as AI stocks keep climbing

U.S. spot bitcoin ETFs have suffered their largest and longest withdrawal streak on record, with investors pulling roughly $3.45 billion across 11 consecutive trading sessions as bitcoin slid toward $70,000, according to data provider SoSoValue. The 11-session run, which began May 15, marks the longest stretch of net redemptions since the funds debuted in January…

Grayscale’s Hyperliquid ETF Likely to Launch This week

Crypto asset manager Grayscale could launch its exchange-traded fund tied to the Hyperliquid token in the US as soon as this week after it amended a regulatory filing for the fund, an analyst says.  Bloomberg ETF analyst James Seyffart posted to X on Monday that the launch of Grayscale’s ETF was “likely imminent” and was…

Bitcoin Falls to Two-Month Low as Stocks Hit Record Highs

Bitcoin fell to its lowest level in almost two months on Tuesday as cryptocurrencies continue to diverge from traditional equity markets. Bitcoin (BTC) fell to a low of $70,023 on Coinbase early on Tuesday, its lowest level since April 7, marking a daily decline of more than 4% and a weekly loss of 8%, according…

Bitmine Buys $52M ETH, Tom Lee Says Fundamentals Strong

Bitmine Immersion Technologies has purchased another $52 million worth of Ether (ETH), with its chair, Tom Lee, saying that the token’s price isn’t yet reflecting the Ethereum blockchain’s strengths. “Over the past week, we acquired 26,497 ETH,” Lee said in a statement on Monday. “In our view, ETH prices are not reflecting the strengthening of…

Japan’s Ruling Party Pushes Crypto ETFs, Yen-Denominated Stablecoins

A group of lawmakers within Japan’s Liberal Democratic Party (LDP) are seeking reforms to the country’s cryptocurrency taxation system, as well as support for initiatives for the development and adoption of yen-denominated stablecoins. According to a Monday Nada News report, the LDP’s Parliamentary Association for the Promotion of Blockchain delivered recommendations to Finance Minister Satsuki…

Radiant to Wind Down After Failing to Recover From 2024 Hack

Crypto lending protocol Radiant Capital says it will start closing down as it failed to establish a “viable path forward” after North Korea exploited it for $50 million in October 2024. Radiant’s decentralized autonomous organization said in a blog post on Monday that its inability to recover the stolen funds, secure new capital and maintain…