Coinbase in S&P 500: More crypto firms to come?

Coinbase in S&P 500: More crypto firms to come?

“This normalizes crypto exposure in conservative portfolios that might otherwise avoid digital assets,” said Bitpace’s Meryem Habibi. This past week, Coinbase joined the S&P 500, one of the world’s most elite stock indexes — a triumph for the crypto firm, which spent much of the 2020s battling US government agencies like the SEC and Commodity…

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Ledn ditches ETH, shifts to full custody model for Bitcoin loans

Ledn ditches ETH, shifts to full custody model for Bitcoin loans

Ledn will no longer lend out client assets to generate yield, opting instead to keep Bitcoin under full custody. Digital asset lender Ledn is transitioning to fully collateralized Bitcoin lending and discontinuing support for Ethereum, in moves designed to consolidate its BTC-focused business and further safeguard client assets against credit risks. In adopting a full…

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Hyperliquid backs 24/7 crypto trading in CFTC comments submission

Hyperliquid backs 24/7 crypto trading in CFTC comments submission

Decentralized exchange Hyperliquid has submitted formal comments to the US CFTC supporting 24/7 perpetual derivatives trading. Hyperliquid, a decentralized perpetuals exchange operating on its own layer-1 blockchain, has submitted formal comments on 24/7 derivatives trading to the United States Commodity Futures Trading Commission (CFTC). In a May 23 X post, Hyperliquid Labs announced that it…

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Synthetix scuttles M Derive deal after community concerns

Synthetix scuttles $27M Derive deal after community concerns

Derive tokenholders were worried about the exchange rate and the overall benefit to the platform, with one user claiming Derive generates more revenue than Synthetix. Decentralized finance platform Synthetix has axed its $27 million plan to acquire crypto options platform Derive after negative community feedback. A Synthetix spokesperson told Cointelegraph on May 22 that its…

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Pompliano-led crypto-focused SPAC gains 7% on Nasdaq after upsized IPO

Pompliano-led crypto-focused SPAC gains 7% on Nasdaq after upsized IPO

Anthony Pompliano’s fintech-focused SPAC, ProCap Acquisition Corp, rose 7% on its Nasdaq debut after bumping its IPO to $220 million a day before listing. Crypto influencer Anthony Pompliano’s fintech-focused blank-check company, ProCap Acquisition Corp (PCAPU), rose 7% on its debut Nasdaq listing after a last-minute upsizing of its initial public offering. ProCap had boosted its…

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Australian regulator asks High Court to allow appeal in Block Earner case

Australian regulator asks High Court to allow appeal in Block Earner case

A Block Earner spokesperson told Cointelegraph that ASIC’s case against the firm has escalated to a “broader legal question” around the definition of a financial product. Australia’s financial regulator will seek the High Court’s permission to appeal a lower court’s ruling favoring fintech firm Block Earner, which found the company’s crypto-linked fixed-yield earning service is…

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