Bitcoin-backed loan refinances PowerCompute’s $18M debt at 2%

Nasdaq-listed PowerCompute refinanced $18 million of debt through a Bitcoin-backed facility carrying an initial interest rate of about 2%. Source link

Local Stablecoins Could Become Gateways to Digital Dollars: IMF

Domestic-currency stablecoins intended to curb reliance on dollar-backed tokens could instead make it easier for users to move funds into digital dollars, according to a senior International Monetary Fund (IMF) official. On Friday, IMF First Deputy Managing Director Dan Katz said that once local and dollar stablecoins operate on the same blockchain infrastructure, users can…

Reform UK Chair Calls for Probe into SBF-Linked Donation: Report

The chairman of the UK’s Reform party has called for an investigation following reports of a $50,000 political donation linked to former FTX CEO Sam “SBF” Bankman-Fried. According to a Friday report from the Telegraph, Reform UK chair Lee Anderson called for the parliamentary commissioner for standards to probe Defense Secretary Wes Streeting over reported…

Binance BTC Trading Volume Ratio Hits Record Amid Spot, Futures Split

Bitcoin (BTC) derivatives trading volumes are now nearly eight times higher than spot markets on Binance. Key points: Bitcoin daily spot trading volumes on Binance are diverging from futures more than ever. Spot demand has declined in recent months, while futures demand is still net positive, per data from CryptoQuant. Options traders are hedging for…

Trump crypto news: DJT scraps Crypto.com deals citing market condition, CRO token falls 5%

Trump Media (DJT) is unwinding parts of its crypto push, including scrapping plans to establish a publicly traded CRO token accumulation company, which it unveiled near the height of last year’s digital asset treasury boom. Trump Media, Crypto.com and special purpose acquisition company Yorkville Acquisition mutually terminated plans for Trump Media Group CRO Strategy, the…

US Treasury’s OFAC Sanctions 2 Iran-Linked Crypto Exchanges

Cointelegraph is committed to providing independent, high-quality journalism across the crypto, blockchain, AI, and fintech industries. All news, reviews, and analyses are produced with full journalistic independence and integrity. For more details on our standards and processes, please read our Editorial Policy. Source link

US Nonfarm Payrolls Miss Sends Bitcoin Above $65,000

Bitcoin (BTC) hit new August highs into Friday’s Wall Street open as markets reacted to weaker US jobs numbers. Key points: Crypto and risk assets gained after US nonfarm payrolls fell by 23,000 in July. Fed interest-rate bets for September shift from a 0.25% hike to a pause on signs of a weaker labor market….

Bybit sues North Korea and Lazarus Group over $1.5 billion hack, secures asset freeze

“The order is intended to preserve identified stolen digital assets while the litigation continues, representing an important step in Bybit’s ongoing efforts to recover funds, support international law enforcement investigations, and reinforce accountability for large-scale cybercrime,” Bybit said in the release. “Our focus has never changed: protect our users first, recover what we can, and…

Fierce Backlash to Ethereum’s EIP-8363 Staking Proposal

Ethereum researchers just wanted to reduce staking incentives. Instead, they sparked one of the biggest debates over the network’s economics since the Merge. Ethereum Improvement Proposal EIP-8363, or “Tapered Issuance Burn,” would gradually reduce staking rewards as more and more Ether is locked up to secure the network — eventually cutting new protocol issuance to…

US Crypto Bill Delay May Boost Asian Financial Hubs

The US Senate’s delay of a vote on crypto market structure legislation could give Hong Kong and Singapore more time to strengthen their positions as digital asset hubs, according to First Digital founder and CEO Vincent Chok. On Friday, Thune’s office confirmed to Cointelegraph that the Senate would not vote on the legislation before the…