Latest news with #SolanaSOL
Yahoo
3 days ago
- Business
- Yahoo
Fastex Expands U.S. Presence With Los Angeles Office
Fastex, a Dubai-based crypto exchange, is expanding its presence in the U.S., building out an office in Los Angeles, California. According to a Thursday announcement, Fastex will offer spot crypto trading services of tokens including bitcoin BTC, ether ETH, Cardano ADA, Solana SOL and its native utility token, Fasttoken FTN, to both retail and institutional investors in the U.S. Fastex's American expansion comes as the U.S. continues to overhaul its approach to crypto regulation under President Donald Trump's administration. Since Trump took office in January, the U.S. Securities and Exchange Commission (SEC) has retreated from the so-called regulation-by-enforcement approach to crypto it took under former Chair Gary Gensler, dropping a host of open investigations and closing ongoing litigation against crypto exchanges. In an interview with CoinDesk at Bitcoin 2025 in Las Vegas, Fastex's Chief Legal Officer and board member Vardan Khachatryan said that the SEC's softened stance toward crypto regulation played a major role in the exchange's decision to expand in the U.S., though he acknowledged that there is still no concrete legal framework for crypto in the country. 'There has been enough of a policy change, at least in terms of [how the U.S. government is] viewing things, that allowed us to go for this,' Khachatryan said. 'It's still kind of a risk, but it's a lower risk.' With a host of crypto companies returning to the U.S. due to the Trump Administration's crypto-friendly policies, cities like New York are hoping to attract companies expanding to the U.S. to set up shop in their jurisdictions. But, while Khachatryan said New York would be 'the right place to be in terms of headquarters,' he said that, for now, the prospect of obtaining a BitLicense — the notoriously difficult-to-obtain crypto license issued by the New York Department of Financial Services (NYDFS) — is prohibitive. 'I hope that things will change a bit,' Khachatryan said. New York City Mayor Eric Adams, who has branded himself the 'Bitcoin Mayor' in an attempt to lure crypto companies to New York, called for the end to the BitLicense regime during a speech at Bitcoin 2025 in Las Vegas on is currently headquartered in Dubai, in the Dubai International Financial Centre (DIFC). Khachatryan said the exchange is currently working on obtaining a license from Dubai's Virtual Assets Regulatory Authority (VARA). After expanding in the U.S., Khachatryan said the exchange also has its eyes on a Latin American expansion, starting with Brazil, followed by Argentina and Mexico. Inicia sesión para acceder a tu cartera de valores
Yahoo
17-05-2025
- Business
- Yahoo
Crypto Miners Soar on OpenAI-CoreWeave Deal; Galaxy Jumps in Nasdaq Debut
While cryptocurrencies put in a flattish performance on Friday with bitcoin BTC churning around $104,000, crypto-related stocks were having a moment to shine. Crypto mining and data center firms such as Cipher Mining (CIFR), Hive Digital (HIVE), Hut 8 (HUT) and TeraWulf (WULF) booked 10%-20% gains on optimism about artificial intelligence (AI) computing demand, jolted by CoreWeave (CRWV) signing a $4 billion deal with ChatGPT-developer OpenAI. These firms are often seen as proxies for AI-linked infrastructure bets due to their data center assets. For its part, CoreWeave soared more than 26%. The rally extended to Galaxy Digital (GLXY), which rose 8% on its first day of trading on the Nasdaq, marking the firm's long-awaited U.S. market debut. The company, previously only listed in Toronto, manages crypto investments and trades digital assets and also has a data center business. Crypto exchange Coinbase (COIN) rebounded 9% after a sharp drop Thursday triggered by customer data breach and ongoing regulatory scrutiny by the U.S. Securities and Exchange Commission (SEC).DeFi Development (DFDV), the real estate tech firm with a Solana SOL treasury strategy, surged 45% to fresh record highs on news of striking a validator operation deal with memecoin BONK BONK and adding more SOL tokens to its balance sheet. Meanwhile, BTC held just above $104,000, up 1.3% over the 24 hours, while ether ETH gained 2.3% to $2,580. The broad-market CoinDesk 20 Index was flat, with XRP XRP underperforming as a U.S. judge rejected the settlement proposal between Ripple and the SEC. On the macro front, the University of Michigan's latest inflation survey showed consumers expect 1-year inflation to rise to 7.3%, up from 6.5%, the highest since the 1980s, while expectations for 5-10 years ticked up to 4.6%, a multi-decade high. "It's so high it doesn't make sense," Louis Navellier, chief investment officer of money management firm Navellier said in a market note. Responses showed staggering divergence in outlooks by political affiliations, with the Republican outlook for far tamer inflation. Traditional markets, consequently, shrugged off the data, with major U.S. stock indices climbing higher towards the latter hours of the session. However, rising inflation expectations may have a second-order impact on markets by discouraging Fed policymakers from cutting rates in the next months. "The concern here is that the Fed has expressed interest in consumer expectations on inflation, and with their concern about the potential of tariff-fueled inflation, it may give them further reason to pause," Navellier said.
