Latest news with #OKX
Yahoo
13 hours ago
- Business
- Yahoo
Asia Morning Briefing: BTC Pulls Back as Market Isn't 'Invincible', But Google, Meta Lift AI Tokens
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. As East Asia begins its business day, bitcoin is down 1.8%, trading above $117,800, as traders take some profit after BTC pushed through multiple all-time highs. While there's a belief from some market participants that the rally is just beginning, with calls for BTC to hit 160k, 200k, and further, OKX's Chief Commercial Officer, Lennex Lai warns that risk is building just as fast as market enthusiasm. "Across platforms, we're seeing an increase in aggressive long positions and widening funding rates as 'Crypto Week' headlines boost sentiment," Lai told CoinDesk in an interview via Telegram. "At these levels, risks can build quickly - escalation of trade tensions with the EU, Mexico, and other trading partners could trigger sharp corrections. Another risk is letting euphoria drive decisions." Lai points to a slate of coming macro announcements – like the U.K. CPI release, and the U.S Core PPI, retail sales, and consumer sentiment, that could influence global risk sentiment and set the tone for broader markets. These concerns echo findings from K33 Research's H1 2025 market report, which highlighted similar risks and volatility triggers earlier this year. According to K33, geopolitical turmoil and trade policy uncertainty have already driven significant market swings, such as a 30% correction to $75,000 earlier in the year. The report specifically noted, "Bitcoin struggled in this de-risking period but showed subtle hints of relative strength vs equities by outperforming equities in the aftermath of Liberation Day." Additionally, K33 highlighted historically low funding rates amidst rising prices, signaling cautious sentiment among seasoned traders who remain wary of abrupt market reversals. "Annualized funding rates averaged at 4.51% throughout the half-year, the lowest average half-year funding rate since December 31, 2022," when the post-FTX crypto winter was at its coldest, the report said. "In moments like this, smart traders focus on strategy over sentiment, using discipline to manage risk," Lai continued. "The excitement at the top is real, but those who manage their entries, exits, and funding exposure carefully are best positioned for whatever comes next." After all, he concluded, "strong momentum doesn't mean the market is invincible." Maple Finance is now the largest on-chain asset manager, overtaking BlackRock's tokenized money market fund BUIDL, according to data from a Dune Analytics dashboard tracking real-time DeFi asset flows. A surge of over $100 million in new deposits this week pushed Maple's total assets under management (AUM) to $2.9 billion, eclipsing BUIDL's $2.3 billion. While BUIDL draws capital with its ultra-conservative exposure to short-term U.S. Treasuries and cash equivalents, Maple appeals to more risk-tolerant institutions by offering yield through undercollateralized loans to vetted trading firms and crypto-native borrowers. That model, which relies on delegated credit underwriting rather than blanket overcollateralization, now appears to be scaling faster. The milestone suggests a growing appetite for yield-bearing DeFi credit products amid continued macro uncertainty. It also marks a rare instance where a decentralized credit protocol has outpaced a major TradFi incumbent like BlackRock on-chain, at least by raw AUM. AI-focused crypto tokens jumped 5% overnight, pushing the sector's market cap to $29.6 billion, according to CoinGecko. The move comes amid a surge of AI and data infrastructure announcements from major U.S. tech firms, sparking renewed investor enthusiasm across both equity and token markets. Google said Tuesday it will invest $25 billion into data centers and AI infrastructure across the PJM electric grid, America's largest, while also agreeing to buy 3,000 megawatts of hydroelectric power via a $3 billion deal with Brookfield. Meta, meanwhile, is planning 'hundreds of billions' in AI data center builds, including a multi-gigawatt facility called Prometheus in Ohio. The announcements were timed around a Trump administration-led summit at Carnegie Mellon University, where over $90 billion in AI, energy, and data infrastructure pledges were revealed. The bullish tone on AI, from both government and industry, appears to be spilling into token markets, at least for now. BTC: Bitcoin is trading at $117,810.33, down 1.69%, and failed breakout attempts gave way to high-volume support, narrowing consolidation, and thinning liquidity, signaling market exhaustion and anticipation ahead of the next macro catalyst, according to CoinDesk's Research's technical analysis data. ETH: Ethereum surged 2.6% to $3,066.57 in a volatile 24-hour session, rebounding from a $2,933.50 low as institutional flows, record staking, and strong volume fueled a breakout past $3,075, signaling renewed bullish momentum. Gold: Gold fell 0.56% to $3,331.55, even as a new London Bullion Market Association (LBMA) poll showed analysts turning more bullish with upgraded 2025 forecasts averaging $3,324.40—driven by geopolitical tensions, dollar weakness, and fiscal concerns, though opinions remain split on whether prices will climb toward $4,000 or fade into year-end. Nikkei 225: Asia-Pacific markets are set to open mixed after President Trump announced a preliminary trade deal with Indonesia that includes a 19% U.S. tariff on its exports. S&P 500: The S&P 500 edged 0.4% lower after touching an intraday record, as rising Treasury yields and a 2.7% June inflation reading raised concerns over tariff-driven price pressures, despite strong bank earnings and Nvidia-led tech gains. Legitimate Privacy Tool or Dirty Money 'Laundromat'? Lawyers Debate Role of Tornado Cash on Day 1 of Roman Storm Trial (CoinDesk) Can the Genius Act save banks from stablecoins? (Blockworks) 'Existential Threat': Bitcoin Proposal Would Freeze Satoshi's Quantum-Vulnerable Coins (Decrypt) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
a day ago
- Business
- Bloomberg
US Expansion Is Going Great: OKX US CEO
Bloomberg Crypto Show OKX US CEO Roshan Robert discusses expansion into the US in an interview with Sonali Basak and Tim Stenovec on 'Bloomberg Crypto.' (Source: Bloomberg)
Bloomberg
a day ago
- Business
- Bloomberg
Trump Presses GOP to Pass Crypto Bills
"Bloomberg Crypto" covers the people, transactions, and technology shaping the world of decentralized finance. Today's guests: Rep. Bryan Steil, (R) Wisconsin, and Roshan Robert, OKX US CEO. (Source: Bloomberg)
Finextra
a day ago
- Business
- Finextra
Standard Chartered launches bitcoin spot trading
Standard Chartered has become the first global systemically important bank to offer digital asset spot trading to institutional clients. 0 The offering includes spot trading for Bitcoin (XBT/USD) and Ether (XET/USD) through the bank's UK branch and will soon add non-deliverable forwards trading. The trading is fully integrated with Standard Chartered's existing platforms, allowing institutional clients to access and trade cryptoassets through familiar FX interfaces. Clients can settle to their choice of custodian, including the bank's own service. Bill Winters, group chief executive, Standard Chartered, says: 'As client demand accelerates further, we want to offer clients a route to transact, trade and manage digital asset risk safely and efficiently within regulatory requirements.' Standard Chartered has been an enthusiastic player in the digital asset market, recently unveiling a partnership with crypto exchange OKX on a collateral mirroring programme, enabling institutional clients to utilise cryptocurrencies and tokenised money market funds as off-exchange collateral for trading. Earlier this year, the bank's head of digital assets Geoffrey Kendrick forecast that bitcoin could hit a high of $500,000 over the next three years.
FF News
2 days ago
- Business
- FF News
OKX Integrates PayPal to Enable Users to Fund and Purchase Crypto Across Europe
OKX PayPal Integration is now live, enabling people all over Europe the ability to easily fund their wallets and buy crypto. This PayPal crypto funding option makes it easier for millions of people to sign up, which increases OKX's reach and shows its commitment to making digital asset services available to everyone. Starting today, users can fund their OKX accounts using a variety of funding sources made available by PayPal, including PayPal balance, linked bank accounts, debit cards, and credit cards. The integration streamlines access to digital assets with no additional setup required after linking their OKX and PayPal accounts. Key features of the integration include: Frictionless Funding: Fund your OKX balance instantly using your preferred PayPal payment method. Trusted platforms: Pay with PayPal on OKX and enjoy the simplicity of a familiar and trusted payment method. Localised Access: Available across the EEA and fully aligned with OKX's MiCA-compliant framework for regulated digital asset services. Seamless Connection: Link your PayPal account to OKX in just a few clicks, enabling smooth onboarding and fast transactions. To celebrate the launch, OKX is offering zero fees on all crypto purchases either made with PayPal or when an OKX account is funded by PayPal for a limited time. This exclusive, one-month campaign is available only to users in the EEA and reflects OKX's ongoing commitment to reducing barriers to crypto adoption in the region. This OKX PayPal integration initiative enhances fiat-to-crypto access, giving European crypto buyers a smooth experience. 'Integrating with PayPal is a major step in our mission to make crypto more accessible to everyone,' said Erald Ghoos, CEO of OKX Europe. 'PayPal is a household name in Europe and beyond, and integrating their trusted payment solutions helps us deliver a seamless experience that meets the evolving needs of our users.' 'PayPal is on a journey of revolutionizing commerce and one way we are doing that is by marrying our belief in choice with access to digital assets,' said Samba Natarajan, Senior Vice President and General Manager, Europe, PayPal . 'By integrating PayPal with OKX in EEA, we are expanding where our users can use our familiar, trusted platform to purchase cryptocurrency directly or fund accounts used for purchases of digital currencies throughout the region.' The integration follows OKX's recent MiCA registration in Europe, a key regulatory milestone that strengthens its position in the region and supports its long-term strategy to offer regulated, localized digital asset services in key European markets. With the OKX PayPal Integration, users all over Europe can easily access digital assets thanks to OKX's growing commitment to payment innovation. Companies In This Post PayPal OKX
