Category: CryptoX News

Bitcoin Rebounds as Polymarket Traders Bet U.S. Shutdown Will End Within Days

Good Morning, Asia. Here’s what’s making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas. BTC and ETH rebounded overnight as traders bet the U.S. government shutdown will soon end, lifting risk sentiment after a volatile week. Bitcoin rose 4.2% to $106,269, while Ethereum gained 7.4% to $3,643, according to CoinDesk market data, recouping some of last week’s losses as macro…

Italy Banks Back Digital Euro CBDC, Seek Staggered Implementation Costs

The Italian Banking Association supports a digital-euro central bank digital currency (CBDC) while urging that investment costs be spread over time. Italian banks, led by the Italian Banking Association (ABI), say they support the European Central Bank’s (ECB) digital euro project, ABI General Manager Marco Elio Rottigni told a Florence press seminar on Nov. 8, […] Source CryptoX Portal

Yield-Bearing Stablecoins Witness a Stampede for the Exits After 3 Tokens Collapse 

The $20.43 billion yield-bearing stablecoin sector slipped massively this week, according to stablewatch.io, as several synthetic and algorithmic stablecoins suffered heavy outflows and severe depegs. The turmoil centered around the yield-bearing stablecoins deUSD, XUSD, and USDX, all of which collapsed from their dollar pegs in a matter of days. Massive Outflows Hit Leading Yield-Bearing Tokens […] Source CryptoX Portal

Wall Street is Bought in On Crypto’s Upside Potential, But Not Its Tech

Wall Street’s appetite for crypto is stronger than ever. BlackRock’s Bitcoin ETF has broken inflow records. Fidelity and VanEck have followed suit with new spot products. Even the Nasdaq has hinted at expanding its digital asset trading infrastructure. Yet, for all this momentum, almost none of it actually happens onchain. Institutions now treat crypto as a legitimate asset class, but not as a place to operate. The bulk of trading, settlement, and market-making still takes place on private servers and traditional rails. The reason is simple: blockchains, in their current…

CFTC’s Pham Moves to Launch Spot Crypto Trading Without Congress

The U.S. Congress has long been trying to grant the Commodity Futures Trading Commission more direct authority over crypto spot markets, but the agency is forging ahead without it, and interim chief Caroline Pham is in talks with regulated exchanges to launch spot crypto products as soon as next month, according to people with direct knowledge of the plans. Even during the federal government shutdown that’s otherwise delaying crypto policy efforts in Washington, the people said that Acting Chairman Pham has been meeting personally with multiple financial platforms interested in…

Bitcoin Weekly Close Could Decide the Fate of Its Bull Market

Key points: Bitcoin faces an important weekly close with several key price levels on the line. The bull market’s future is still at stake, a trader says, amid ongoing whale selling. Risk assets should gain from a reduction in US trade tariffs or the end of the government shutdown. Bitcoin (BTC) wedged itself in a narrow range ahead of a key weekly close with $100,000 support at stake. BTC price counts down to major weekly close Data from Cryptox Markets Pro and TradingView showed BTC price inertia characterizing weekend trading.…

Latam Stocks Outperform S&P 500: Analyst Claims Region Is ‘Open for Business’

According to Crescat Capital’s Macro Strategist Otavio Costa, Latin America might offer an alternative for U.S. investors as it is currently on the brink of a structural transformation, with Argentina and El Salvador leading the charge of a region-wide change. Latam Stocks Surpass S&P 500 Index: The Region Is ‘Open for Business’ The Facts Even […] Source CryptoX Portal

Central Bank of Brazil Clarifies Drex CBDC Project’s Future: Digital Real Still the ‘Ultimate Goal’

The Central Bank of Brazil said the recent pause in using blockchain for drex, its central bank digital currency project, is temporary. The bank intends to continue using decentralized technology in the future, including issuing its own currency for tokenization-linked settlements. Central Bank of Brazil: Drex CBDC Project Still Alive The Facts The Central Bank […] Source CryptoX Portal