Markets Outlook

With bitcoin breaking above its recent $500 trading range, CoinDesk’s Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.Today’s stories:Against the Odds, Some Bitcoin Traders Are Betting on a $36K Price by Year’s EndThe Deribit exchange has seen a spike in investors buying the $36,000 December call option despite the market placing low odds on a new record high this year. DeFi Lender bZx Loses $8M in Third Attack This YearAn attacker found a way to mint unbacked iTokens that they could then redeem against other cryptos held in lending pools for DeFi lender bZx.Iran May Fund Car Imports with Cryptocurrency MiningAn Iranian free trade zone is proposing locally mined cryptocurrency might be a way to fund car imports.SEC Charges Rapper TI With Securites Violations for ICOThe SEC alleged film producer Ryan Felton misappropriated funds from two separate initial coin offerings, and charged rapper TI with boosting one of them.

With bitcoin trading in a narrow range and new comments from central bankers in Europe and Japan, CoinDesk’s Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.Today’s stories:Bitcoin Holds Firm Above $10K but Strong Bounce Proves ElusiveBitcoin is trapped in the narrow range of $10,000 to $10,500, but on-chain metrics hint at a rally revival ahead.Uniswap September Volume Tops August’s $6.7B Record in 10 Days on Dizzying DeFi DemandSeptember is the fifth consecutive monthly all-time high for Uniswap volume.Square Forms Group to Stop Patent Hoarding From Stifling Crypto InnovationSquare said the Cryptocurrency Open Patent Alliance (COPA) will allow companies to access and share tech innovations with one another.Europe Has Fallen Behind on Digital Payments, Lagarde SaysIn new comments, European Central Bank President Christine Lagarde said a digital euro can place the region at the cutting edge of innovation but it may have fallen behind in the global competition for creating digital payment ecosystems.Japan Should Consider a Digital Yen, Former Official SaysIn an interview with CoinDesk Japan, a former Bank of Japan official had new comments on the country’s many reasons to seriously consider a digital yen.

With bitcoin lawsuits in the news and SushiSwap’s migration completed, CoinDesk’s Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.Today’s stories:Ether Traders May Be Hedging Against DeFi Slowdown: AnalystSome are calling the white-hot Defi space a bubble that is unsustainable.Judge Dismisses $200M Damages Claim in AT&T Crypto Hack LawsuitAT&T has won a motion to dismiss a $200 million punitive damages claim from Mike Terpin, who lost $24 million in crypto via SIM hack. Court Denies Bitmain $30M in Damages From Co-Founders of Rival PoolinA court in China has denied an appeal by bitcoin mining giant Bitmain seeking $30 million in damages from the three co-founders of mining pool rival Poolin.SushiSwap Migration Ushers in Era of ‘Protocol Politicians’SushiSwap, the community-owned automated market maker, now has a new set of leaders – offering a preview of the future of crypto politics.

With bitcoin hovering just above $10k and a tokenized form of Ethereum transaction fees in the crosshairs, CoinDesk’s Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.Bitcoin's Correlation With Gold Hits Record HighBitcoin is now more closely tied to safe haven gold than ever.BitFlyer's Newest Customers Are In Their 20sMore than 30% of new customers at bitFlyer, a major Japanese crypto exchange, are in their 20s, the exchange said.DeFi Meets Universal Basic Income With Just-Launched Project From eToroeToro's GoodDollar initiative will provide a universal basic income for some of the world's poorest by incentivizing people to yield farm on its platform. Ethereum Developers Weigh Gas Rule Change to Ease Fee PressureAs Ethereum fees soar, a proposal to nix “gas tokens,” which let users prepay fees when they’re cheap and spend them later, is getting renewed attention.

With investors buying the bitcoin dip and staying bullish on options, CoinDesk’s Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.Investors Buying Bitcoin Amid Price Slump to Near $10K, Data ShowsDespite bitcoin shedding over $2,000 in the last few weeks, the "buy the dip" mentality in the market still appears strong.Bitcoin Options Suggest Investors Hedging but Still Long-Term BullishBitcoin's options market retains long-term bullish bias despite the recent price pullback, data shows.What Happened to DeFi Project SushiSwap Over the WeekendSushiSwap experienced a tumultuous weekend after its founder sold $13 million' worth of his stake in the project before turning the reigns over to investor and FTX CEO Sam Bankman-Fried.

As the price of bitcoin reels from its biggest drop since Black Thursday, CoinDesk’s Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.Today's stories:V-Shaped Recovery From Bitcoin's Biggest Drop Since March Unlikely, Say AnalystsDespite a slight bounce Friday morning, some analysts don't expect bitcoin to chart a quick recovery from the double-digit price drop over the last two days.3 Reasons Bitcoin Just Tanked Below $11K for First Time in a MonthCryptocurrency analysts attributed the drop to a combination of risk-off sentiment in traditional markets, DeFi exhaustion and miner selling. Blockchain Bites: Bitcoin's Steep Sell-Off, Pornhub's Crypto Payments, Twitter's Latest Hack Pornhub will accept BTC and LTC payments, a nonprofit wants Coinbase to be more transparent and credit default swaps are coming to the Ethereum blockchain. Bank of England Governor Wants Global Regulations as Stablecoins Pick Up Steam   Bank of England Governor Andrew Bailey wants coordinated global regulation around stablecoins as the payment method picks up steam.

With the price of bitcoin pulling back sharply and U.S. legislators again advocating for blockchain, CoinDesk’s Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.Today's stories:Bitcoin Risks Deeper Price Pullback as Exchange Inflows SpikeWednesday saw a flurry of deposits onto exchanges, indicating some investors are trying to offload their bitcoin. That could further propel prices downwards.Robinhood May Face $10M SEC Fine Over Disclosure FailuresRobinhood is reportedly under investigation by the SEC for not fully disclosing that it was passing customer orders onto market makers. Lawmakers Ask Trump to Use Blockchain in COVID ReliefLawmakers are urging President Trump to consider blockchain solutions in the fight against COVID-19. Swiss Canton Zug to Accept Taxes in Bitcoin, Ether From Next Year Citizens and companies in Zug will be able to pay up to $109,000 of their tax bill in either bitcoin or ether from February next year.

With bitcoin dropping overnight as DeFi booms, CoinDesk’s Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.Today's stories: Bitcoin Price Drops 4% After Latest Rejection at $12K ResistanceBitcoin fell by $400 Wednesday morning, having failed once more to move above a long-held resistance level. Bitcoin Miners Saw 23% Revenue Increase in AugustMiners generated an estimated $368 million in August.DeFi Flippening Comes to Exchanges as Uniswap Topples Coinbase in Trading Volume Trading volumes are surging on Uniswap and other so-called decentralized cryptocurrency exchanges, challenging established venues like Coinbase.Police Reportedly Raid Headquarters of Bithumb, South Korea's Largest Exchange Crypto exchange Bithumb has reportedly been seized by police in Seoul on allegations that its chairman engaged in investment fraud.

With ether reaching a two-year high and a breakdown on weird DeFi, CoinDesk’s Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.Today's stories:Ether Price Hits 2-Year High The two-year high was reached alongside a drop in the number of coins held in exchange addresses. US Regulator to Shake Up Banking With Federal Charters for Payment Firms Acting Comptroller of Currency (and former Coinbase exec) Brian Brooks is spearheading the move to let payment firms operate as banks across state lines.Yearn, YAM and the Rise of Crypto's 'Weird DeFi' MomentWhat do these various memecoins do? Here's the rough TL;DR of the latest tokens to top the DeFi charts.

With bitcoin still lagging behind U.S stocks and additional tax guidance in the U.S., CoinDesk's Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.Today's stories: US Stocks Closing on Bigger August Gain Than Bitcoin  While bitcoin is eyeing an August gain for the first time in three years, the cryptocurrency is still lagging U.S. stocks over the month. Chinese Bank Disables Digital Yuan Wallet After Soft Launch Draws Wide AttentionChina Construction Bank had quietly opened up the wallet service of China's digital yuan to public users – but has now disabled it shortly after the feature gained wide attention.What Changes at the Fed and the SEC Mean for Crypto Chairman Powell’s speech on Thursday highlighted how much the Fed’s role is changing, and that's an opportunity for the crypto industry.Cryptocurrency Earned From Carrying Out Microtasks Is Taxable, Says IRS Memo The U.S. tax department has provided guidance around crypto revenue earned from microtasks via crowdsourcing platforms and, yes, such income is taxable.