Category: Breaking

The latest price moves in bitcoin (BTC) and crypto markets in context for Aug. 15, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

Eigen Labs circulated a list of team members’ wallet addresses to EigenLayer ecosystem projects that were preparing to issue tokens. The firm later banned the practice, citing potential conflicts of interest.

The digital assets industry is now a full-blown political issue, and Wall Street firms with crypto exposure are staying cautious ahead of November’s U.S. election. Whether the next election will result in Donald Trump or Kamala Harris occupying the Oval Office for the next four years, one thing Wall Street firms agree on is that either nominee will bring crypto regulation forward.

Litecoin gained 2.1% while Internet Computer rose 1.9% in overnight trading.

Bitso will use Coincover’s non-custodial disaster recovery service and its risk engine to monitor outgoing transactions in real time.

The influx of capital comes as Chaos Labs, founded in 2021, looks to expand its platform, designed to address the growing need for automated risk management in decentralized finance (DeFi).

The share of stablecoins versus total cryptocurrency market capitalization is relatively unchanged this year, the report said.

The global financial system will be better off if stablecoins are fully adopted and foreign exchange risk goes the way of the dinosaurs, says Christopher Perkins, president of CoinFund.

During times of uncertainty, the increased availability and accessibility of an investor’s portfolio can lead to reduced volatility and panic across all asset classes, including crypto-native tokens.

Stablecoin issuer Tether has attracted regulatory scrutiny in the past due to its lack of transparency about the composition of its reserves, the report said.