Bitcoin Tumbles 4.7%, Most in Two Months, as China-Fueled Enthusiasm Wanes

Crypto meme lords have ignited a run on tungsten cubes.A two-day-old Twitter joke – “Crypto Traders to Blame for Global Tungsten Shortage” – is trending toward reality – at least if that reality is limited to desk tchotchkes.It’s also forcing the Illinois manufacturer behind tungsten.com to grapple with an unexpected retail buying spree and consider…

Digital asset manager Onramp Invest is using the CoinDesk 20 (CD20) index to benchmark the performance of its portfolios.The CD20 is a measure of market performance for crypto, similar to the S&P 500 or Dow Jones Industrial average for traditional finance.Onramp Invest, a digital asset manager, announced that it has integrated the CoinDesk 20 (CD20)

news The Dutch Financial Criminal Investigative Service has seized the website of a bitcoin transaction mixer in a crackdown involving Europol and other authorities. Calling it the “first law enforcement action of its kind against such a cryptocurrency mixer service,” Europol said in a statement Wednesday that the seizure of Bestmixer.io followed an investigation that…

June CPI came in softer than expected. The odds of imminent Fed rate cuts rose sharply following the news. Under major pressure of late, the price of bitcoin rose as well. Inflation continued to retreat in June, according to the government's Consumer Price Index (CPI) report on Thursday morning, with the June rate coming in

Rosie Perper is the Deputy Managing Editor for the Web3 news section, focusing on the metaverse, NFTs, DAOs and emerging technology like VR/AR. She has previously worked across breaking news, global finance, tech, culture and business. She holds a small amount of BTC and ETH and several NFTs.The non-fungible token (NFT) market is evolving, and…

The CFTC is working to ban political prediction markets. Its current goal: Get a federal appeals court to keep one from launching while it argues a judge was mistaken in overturning its rejection of Kalshi. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign

Bitcoin’s hashrate will not drop by that muchContrary to popular belief, this halving will likely not cause a major decrease in the network's hashrate. After Bitcoin’s first three halvings, the hashrate plummeted by 25%, 11%, and 25%, and it appears many analysts and miners are expecting (or hoping for?) a similar hashrate reduction this time.I

news “Big Sky Country” has gone crypto friendly, with new legislation addressing the use of utility tokens. The governor of the U.S. state of Montana, Steve Bullock, signed House Bill 584 into law earlier this month, recognizing utility tokens and exempting them from being considered as securities under local rules, with caveats. Scintillatingly titled “Generally revise…

Group Backed by ING Bank, Fidelity and Standard Chartered Releases Crypto AML ToolsThe Travel Rule Protocol (TRP), a working group favored by banks and traditional financial institutions and focused on bringing crypto in line with global anti-money laundering (AML) standards, has released the first version of its API.Announced Thursday, the 25-member TRP working group, which…