Prospective CFTC chair Addresses DeFi Regulation at Nomination Hearing

Michael Selig, who serves as chief counsel for the crypto task force at the US Securities and Exchange Commission, faced questions from lawmakers on the Senate Agriculture Committee for his nomination to be the next chair of the Commodity Futures Trading Commission. On Wednesday, Selig appeared before the committee and addressed questions and concerns from…

3 Reasons Why XRP Price Could Drop To $1.55 By December.

Key takeaways: XRP validates a bearish descending triangle, risking a 25% drop to $1.55. A bearish divergence from the weekly RSI points to increasing downward momentum. Low daily active addresses signal muted network activity and liquidity, amplifying XRP sell-off risk. XRP price traded 11% below its value a week ago, and a convergence of several…

Trump’s WLFI Ignites Centralization Risks With Asset Reallocation

The Trump family-backed crypto project World Liberty Financial has reignited concerns about its ability to freeze and reassign user funds, despite promoting itself as “community governed.” The platform said Wednesday that it will reallocate assets affected in a pre-launch phishing attack that exposed the seed phrases of what it described as a “relatively small subset”…

Bitcoin Nears End Of 2022–2025 Market Cycle: CryptoQuant

Bitcoin is entering bearish territory as institutional demand dries up and key market indicators point to a downward phase, according to data from analytics platform CryptoQuant. Bitcoin (BTC) market conditions have turned the “most bearish” within the current bull cycle that started in January 2023, CryptoQuant said in its latest crypto weekly report shared with…

Crypto Protocols Need End-to-End Decentralization

The crypto ecosystem has made strides in decentralizing blockchains, but the recent Cloudflare incident showed that true resilience requires decentralizing the frontend and storage layers as well, blockchain infrastructure platforms argue. Decentralizing blockchains through consensus, a robust set of validators, and smart contracts is essential, but it represents only one side of the equation,” an…

BlackRock Registers Trust For Staked ETH ETF

BlackRock has registered for a new staked Ethereum exchange-traded fund in Delaware, signalling that the $13.5 trillion asset manager is now ready to expand beyond its flagship Ethereum ETF product. A Delaware name registration is one of the first steps that a fund issuer needs to take to file for a new ETF. BlackRock, however,…

Prospective CFTC chair Addresses DeFi Regulation at Nomination Hearing

Michael Selig, who serves as chief counsel for the crypto task force at the US Securities and Exchange Commission, faced questions from lawmakers on the Senate Agriculture Committee for his nomination to be the next chair of the Commodity Futures Trading Commission. On Wednesday, Selig appeared before the committee and addressed questions and concerns from…

Are Futures Traders Jumping Ship?

Key takeaway: BTC derivatives metrics show traders taking precautions, but the data suggests traders are not reaching distressed levels yet. Bitcoin ETF outflows and tech sector weakness keep sentiment subdued, reducing confidence that Bitcoin can hold above $89,000. Bitcoin (BTC) retested the $89,000 level on Wednesday after an unsuccessful attempt to recover $93,500 in the…

3 Reasons Why XRP Price Could Drop To $1.55 By December.

Key takeaways: XRP validates a bearish descending triangle, risking a 25% drop to $1.55. A bearish divergence from the weekly RSI points to increasing downward momentum. Low daily active addresses signal muted network activity and liquidity, amplifying XRP sell-off risk. XRP price traded 11% below its value a week ago, and a convergence of several…

Market Turns Defensive as BTC Loses Its Bid

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. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas. Bitcoin is slipping into a weaker market structure as the steady…