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The era of memecoins as a supposedly fair trading opportunity is "unquestionably over," according to Nic Carter, a partner at Castle Island Ventures. In a post on X, Carter argued that memecoins—tokens with little to no utility beyond speculative trading—were initially attractive because they appeared to offer an even playing
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Welcome to The Protocol, CoinDesk's weekly wrap-up of the most important stories in cryptocurrency tech development. I'm Margaux Nijkerk, CoinDesk’s Ethereum reporter, filling in for Ben Schiller.In this issue:Story Protocol launches to let people register IP and get paid for itEthereum developers release new initiative to simplify cross-chain transactionsEthereum L1
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Nearly every big name in the crypto industry has signed onto a letter calling for Congress to eliminate a U.S. tax policy they say could jeopardize decentralized finance (DeFi) technology by shoehorning much of that space into the field of brokers subject to data collecting and reporting.The Internal Revenue Service
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The world’s first spot XRP exchange-traded fund (ETF) is set to soon debut in Brazil after being approved by the country’s securities regulator, the Comissão de Valores Mobiliários.The regulator’s website shows that the fund, the HASHDEX NASDAQ XRP FUNDO DE ÍNDICE, is currently in a pre-operational phase after being set
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EToro said it received regulatory approval under the European Union’s Markets in Crypto-Assets (MiCA) framework and will soon be able to provide cryptocurrency trading and custody services across the region. The trading platform announced the approval from the Cyprus Securities Exchange Commission on Wednesday.The MiCA regulation that requires firms to
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Crypto investors are still piling into memecoins despite the outsized risks associated with this type of digital asset, Kraken said in a report on Wednesday, after conducting a survey of holders in the U.S..85% of respondents said that they invested in memecoins, and 76% said they believed the "potential rewards
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Wintermute, one of the largest liquidity providers in the cryptocurrency market, is expanding into the U.S. with the opening of a new office in New York and the introduction of over-the-counter (OTC) trading products in the country.Wintermute has plans for a “new added focus on the U.S.,” CEO Evgeny Gaevoy
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HONG KONG — Wingbits, a blockchain-powered aviation data network, is set to add satellite-tracking capabilities as it looks to make further inroads into the $22 billion aviation data industry. The Swedish company is launching a satellite with Spire Global, which operates a low-orbit satellite constellation. The satellite will be carried
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HONG KONG — World Liberty Financial, the Donald Trump-backed crypto project, owes much of its early success to Justin Sun, the Chinese-born crypto billionaire who became an official advisor to the project after purchasing $30 million worth of its token, WLFI, said World Liberty co-founder Zak Folkman.Folkman remarked that, "the
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A key player behind the Libra token bragged about buying access to Argentine President Javier Milei's inner circle months before the memecoin's scandalous launch and crash.In text messages reviewed by CoinDesk, Hayden Davis, CEO of Kelsier Ventures, claimed he could "control" Milei because of payments he had been making to
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