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An estimated 38% of altcoins are now hovering near all-time lows, which is worse than the post-FTX market crash, according to CryptoQuant analyst Darkfost. The current market is “unfavorable” for risk-on assets, and the crypto market is the first to absorb this risk-off posturing, he said, adding: “For comparison, this metric reached 35% in April

Bitcoin mining and data center company Core Scientific has closed a $500 million loan facility with Morgan Stanley, with the option to expand the financing to as much as $1 billion. According to a company announcement on Thursday, the financing may be used for general corporate purposes tied to building and expanding data center assets

SoFi Technologies has selected digital asset custodian BitGo to support the rollout of its bank-issued stablecoin, the latest sign of growing momentum around federally regulated stablecoins for payments and settlements. Under the partnership, BitGo will provide stablecoin infrastructure services for SoFiUSD, a US dollar-pegged token issued by SoFi Bank, a nationally chartered and insured depository

The US Federal Bureau of Investigation (FBI) announced that it had made an arrest related to the theft of more than $46 million in cryptocurrency from the US Marshals Service. In a Thursday X post, FBI Director Kash Patel said that the bureau had arrested John Daghita, the son of Command Services & Support (CMDSS)

The Securities and Exchange Commission has proposed an interpretive framework for applying federal securities laws to digital assets that would carry more weight than staff-level guidance. The US Securities and Exchange Commission (SEC) submitted a regulatory proposal to the White House that could change how the government enforces federal securities laws on cryptocurrencies. In a

Supermarket chain Spar now accepts ADA payments at 137 stores in Switzerland as crypto payment options expand in the country. Switzerland’s push to position itself as a crypto-friendly hub is expanding into retail payments, with Cardano’s ADA token now usable at Spar stores across the country. Cardano (ADA) users can start paying for their groceries

Fintech company Revolut filed a new application for a US national bank charter as it renews its push into the North American market, marking the company’s second attempt to secure a US banking license. The London-based company said Thursday that it submitted an application to the Office of the Comptroller of the Currency and the

Intercontinental Exchange (ICE), the owner of the New York Stock Exchange (NYSE), has invested in crypto exchange OKX at a $25 billion valuation and will take a seat on the company’s board, according to a Thursday announcement. ICE has invested an undisclosed amount in OKX as part of its push into blockchain technology and tokenized

Bitcoin (BTC) has “annihilated” short sellers with its latest trip to monthly highs as crypto liquidations pass $500 million. Key points: Bitcoin bears suffer as BTC price action hits $74,000. Analysis sees more liquidations to come, including longs, with possible market dips below $70,000 to test support. Bitcoin inflows begin to copy a broad ETF

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