Markets Tech Firm to Launch Crypto Derivatives Exchange

Bitcoin (BTC) briefly topped $35,000 Wednesday for the second time this week, but prices quickly reversed as that level appeared to trigger numerous sell orders, perhaps from miners, suggested one hedge fund manager.The $35,000 area represents a monthly resistance level for the price, and could mean that bitcoin will consolidate below for some time following

This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.Bitcoin, the world’s largest cryptocurrency by market value, dropped just below the $26,000 mark on Wednesday after trading in a tight range over the past 24 hours and…

Early Wednesday morning, Donald J. Trump won a second presidential term, completing a stunning political comeback. His victory was also crypto’s. The industry had championed his candidacy and donated millions to his campaign as well as a host of down-ballot races. Analysts expect a more permissive environment for crypto innovation and regulation as a result.

Reddit said it invested part of its excess cash in bitcoin (BTC) and ether (ETH), making the firm one of the few companies that directly purchased digital assets alongside likes of Michael Saylor's MicroStrategy and Elon Musk's Tesla.The social media platform submitted a filing with the U.S. Securities and Exchange Commission (SEC) to go public

news Members of ethereum’s open-source development team have reached agreement on an activation time for Constantinople, a proposed code change designed to give users the option to update the blockchain with additional features. Speaking at a bi-weekly core developer meeting Friday, the developers assembled agreed on block 7,080,000 on the ethereum blockchain as an activation…

NEW YORK — Crypto trader Avi Eisenberg’s fate now rests in the hands of 12 New York jurors, who have been tasked with deciding whether his October 2022 trades on Mango Markets – which netted him $110 million – were fair game or fraud.On Wednesday, the jury heard closing arguments in the government’s case against

“I think there is a new age of wealth coming … a massive transformation of wealth that’s occurring right now from baby boomers to their children.”Sean Ristau of FinTech infrastructure company Prime Trust joins “On Purpose” host Tyrone Ross for an in-depth discussion of the growing intersection between technology and finance. Ristau sees an incoming…

news Some of the world’s biggest banks are said to be investing around $50 million to build a blockchain-based digital cash settlement system. A Reuters report on Friday, citing “people familiar with the plans,” said possibly a dozen unspecified banks are involved in the project. The participating banks will reportedly be setting up a new…

India’s Supreme Court overturns a crypto banking ban while Facebook prepares fiat-pegged digital currencies alongside Libra.For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, IHeartRadio or RSS.Yesterday, The Information reported Facebook’s Calibra wallet would be abandoning the backed-by-a-basket-of-currencies…