Latest news with #Decrypt
Yahoo
17 hours ago
- Business
- Yahoo
Myriad Moves: Bitcoin Price Targets, Sharplink Ethereum Holdings and Vitalik's Mentions
Want to test your knowledge about real-world events like crypto, politics, pop culture, and sports? You've come to the right place. On Myriad Markets, a prediction market developed by Decrypt's parent company Dastan, users can place predictions in these categories using USDC or points, collecting their share of profits if and when they predict correctly. This week, some of the top markets on Myriad involve the next big move for Bitcoin, whether Ethereum co-founder Vitalik Buterin will talk about one of the network's layer-2s and the acceleration of SharpLink Gaming's ETH stash. Bitcoin's Next Hit: Moon to $125K or Dip to $105K? Market Open: July 10 Market Close: December 31 Volume: $74K After Bitcoin sank to as low as $113,000 amid consecutive days of ETF outflows, the leading cryptocurrency has bounced back, fueled by a fresh posting of ETF inflows and headlines that U.S. President Donald Trump will sign an executive order enabling crypto investments in 401K plans. Now BTC stands at $116,677, just more than halfway between the market benchmarks of $105 and $125K. Predictors using Myriad on Ethereum layer-2 network Abstract are asked to predict which target will be hit next. As of Thursday afternoon, predictors are giving the edge to $125K with odds standing at 64% after a 13% swing in the last 24 hours, coinciding with Bitcoin's rise. Odds for $125K got as low as 39.4% on August 2 amid BTC's fall, before swiftly rebounding in the last couple of days. Analysts told Decrypt earlier this week that the ETF outflows and market decline were just a blip in the overall bull market. Predictors seem to believe them. What's Next?: This market is open until December 31. Will Vitalik Mention Linea on His Blog or Social Media in 2025? Market Open: July 31 Market Close: December 31 Volume: $504 Ethereum co-founder Vitalik Buterin has posted lots of content about Ethereum and its layer-2s over the years on his blog and X account. One of the newest prediction markets available on Myriad on Linea asks predictors whether he'll mention Linea, the Ethereum layer-2 network built by Consensys that recently described itself as the 'most ETH aligned L2.' (Disclaimer: Consensys is one of 22 investors in an editorially independent Decrypt). Though volumes are low, currently predictors give a slight edge to 'yes' at 52%, predicting that Vitalik will make mention of Linea via his blog or X account this year. There may soon be cause to mention Linea. For example, the network recently unveiled its tokenomics and has suggested its LINEA token generation event is fast approaching.. Additionally, when discussing the Ethereum mainnet and layer-2 relationship in January, Vitalik implored layer-2s to think 'explicitly' about the economics of ETH–something that Linea addressed with its announcement that it will burn ETH, directly affecting its supply… a suggestion made by Buterin himself. Though he has not posted about Linea on X directly, he has made mention of other Ethereum layer-2 networks in the past. Might he mention Linea soon? What's Next?: Linea has teased its token generation event (TGE) is coming soon, though details remain outstanding. Will SharpLink Gaming (SBET) Hold 1 Million ETH by September 16? Market Open: August 6 Market Close: September 14 Volume: $358 Gambling marketer turned Ethereum treasury company SharpLink Gaming, which trades publicly as SBET, has been aggressively stacking Ethereum since detailing its treasury strategy in May. So far, the firm has amassed a haul of more than 500,000 ETH valued at more than $1.9 billion based on ETH's price. Now predictors are asked whether or not the firm will nearly double its holdings by September 16. Predictors are leaning against the accomplishment, with odds of 'no' standing at 55% despite the fact that SharpLink is aggressively acquiring funds to accumulate more ETH. In July, SBET submitted a filing to up a stock sale from $1 billion to $6 billion to add the second largest crypto asset to its balance sheet. On Thursday it raised more funds, adding $200 million via a direct offering that will directly go to ETH purchases. The firm is actively charting its path to one million ETH on social media, calling the number its 'first milestone' on Tuesday. Will it get there by September 16 though? What's Next?: SBET has typically made Ethereum purchase announcements on Tuesdays. 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
Yahoo
a day ago
- Business
- Yahoo
Morning Minute: Crypto in Your 401(k)s Is Finally Happening
Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack. GM! Today's top news: Crypto majors jump on 401(k) news; ETH passes $3,900 SEC and Ripple drop legal battle for good; XRP jumps 7% FGF files to raise $5B to build an ETH Treasury ChainLink announces ChainLink reserve and LINK buybacks announces Glass Full Foundation, spends $1.69M buying memes 🏦 Crypto in Your 401(k)? It's Happening Trump signed an executive order opening retirement accounts to crypto exposure. The 'infinite twap' is finally here—but it might not be the biggest immediate impact factor. U.S. President Donald Trump has officially signed an executive order allowing cryptocurrencies and digital assets to be held in 401(k) retirement accounts. It's a historic policy shift that could funnel trillions in long-term capital into crypto markets. The order directs the Department of Labor to treat digital assets as permissible alternative investments within defined contribution retirement plans. It also sets a framework for crypto-focused funds, trusts, and ETFs to be offered as plan options by retirement providers like Fidelity, Schwab, and Vanguard. This move fulfills a key part of Trump's 2024 campaign platform and accelerates the institutional mainstreaming of crypto as an investable asset class. 'The near-term impact of Trump's 401(k) executive order is that it sends another message to investors that crypto's regulatory awakening is here to stay. That's clearly pushing the market higher.' -Ryan Rasmussen, Bitwise Head of Research "Crypto in 401ks is WAY WAY BIGGER news than the ETFs In the US, roughly 100 million Americans have a retirement investment vehicle known as a 401(k). Every 2 weeks, a portion of their paychecks are routed directly into purchasing a mixture of stocks and bonds. On autopilot. No discretion, just direct purchases based on their predefined allocations. Most Americans adjust these allocations annually, if at all." -Tom Dunleavy, Head of Venture at Varys Capital This is one of the biggest unlocks of capital in crypto history. The U.S. retirement market holds over $12.5 trillion in 401(k) assets. Even a conservative 1% allocation to crypto would represent $125B in new capital - double the combined assets of all current Bitcoin and Ethereum ETFs (~$63B). (I'll let the moonboys do the math on what 10-20% means). And unlike traders or short-term speculators, 401(k) money is long duration and less price-sensitive - it's sticky. The other impact here beyond the 'infinite twap' (which I've defined as a set % of weekly paychecks going into BTC / crypto every week ongoing forever) is… The upfront rebalancing effort. Once this is approved and operational, there will be a cohort of people who immediately swap 1-2%, or 5% or 10%+ of their 401ks into crypto. This is now 1-2%+ of their weekly paychecks, this is 1-2%+ of their ENTIRE 401ks. It's a tsunami of capital. And this is what could push Bitcoin to $180k+ in the nearish future. The time is now to get into position, so you can ride the tsunami wave - and not get washed out by it… 🌎 Macro Crypto and Memes A few Crypto and Web3 headlines that caught my eye: Crypto majors BTC +0.2% at $116,800, ETH +2% at $3,910, XRP +8% at $3.32, SOL +2% at $177 PENDLE (+22%), AERO (+12%) and LINK (+11%) led top movers in a big day for alts ChainLink's LINK token jumped 11% after the team introduced its ChainLink Reserve, now using revenue to buyback its own token for a reserve The ETH ETFs had their biggest day in 9 sessions with $222.3M in net inflows (BTC ETFs saw $277.4M) Trump signed Executive Orders on Thursday to prohibit debanking of crypto companies along with allowing crypto in 401(k)s The SEC and Ripple officially ended their ongoing legal battle Ripple acquired stablecoin payments platform Rail for $200M, plans to integrate RLUSD Eric Trump teased his new mining / treasuryco 'American Bitcoin' and said 'Next stop, NASDAQ,' now backed by the Winklevoss twins In Corporate Treasuries BMNR saw its highest trading volume day since launch with $2.7B Fundamental Global Inc (FGF) filed to raise $5B to buy more ETH ($4B via ATM( for their ETH Treasury Jack Dorsey's Block added 108 Bitcoin in Q2, now holds 8,692 In Memes Memecoin leaders are green on the day; DOGE +4%, Shiba +2%, PEPE +3%, PENGU +1%, BONK +2%, TRUMP +3%, SPX -1%, and FARTCOIN +4% BOSS jumped another 80% to $32M leading new movers; NYAN soared 31,000% to $11M on Bags Several Pump memecoins soared after the Pump team started buying them using new funds (more info below) The DogWifHat knitted hat sold for $800,000 to the funder of the Bags launchpad The top token on Zora's creator launchpad is a porn company 'Fake Taxi' 💰 Token, Airdrop & Protocol Tracker Here's a rundown of major token, protocol and airdrop news from the day: and that it will be buying its own community coins, already deploying $1.69M across 10 different Pump tokens New meme launchpad Bags briefly flipped LetsBonk in marketshare yesterday, though now trails 25% to 19%; Pump leads at 52% Euphoria raised $7.5M from CT natives to build 'the Robinhood for crypto trading' Mercury teased its new app as an 'all-in-one, user-friendly super app' for Hyperliquid 🤖 AI x Crypto Section dedicated to headlines in the AI sector of crypto: Overall up 13% to $12.4B, leaders were very green FARTCOIN (+4%), VIRTUAL (+3%), TIBBIR (+5%), ai16z (+3%) & ALCH (-1%) GAMBLE (+175%), YNE (+43%) and IRIS (+34%) led top movers 🚚 What is happening in NFTs? Here is the list of other notable headlines from the day in NFTs: ETH NFT leaders ; Punks +1% at 53 ETH, Pudgy +1% at 14.3, BAYC +2% at 12.1 ETH Moonbirds (+12%), Grifters (+11%) and Chimpers (+10%) led notable top movers; Quirkies 37% as well Fidenzas have seen 6 sales in the past 2 days bringing the floor up to 44.4 ETH ($174,000) Bitcoin NFTs were mostly green led by Bitcoin Wizards +46%; Taproot Wizards +9% and Bitcoin Puppets +8% Runes after Elon Must tweeted the 'Magic Internet Money' meme; MIM +50% to $90M, PUPS +30%, RSIC +60% Abstract NFTs were mostly red; Bearyz +12% led Pudgy Penguins launched Igloo APAC as their official Asia arm Sign in to access your portfolio
Yahoo
2 days ago
- Business
- Yahoo
Ripple breaks silence on shocking controversy
Ripple breaks silence on shocking controversy originally appeared on TheStreet. Time and again, Ripple has faced questions over allegedly controlling the XRP Ledger, and the crypto payments company's chief technology officer, David Schwartz, has tried clearing the air. In an interview with Decrypt on Aug. 6, Schwartz addressed the controversy again. Though he admitted there is a lingering misconception that Ripple controls the XRP Ledger, he said the Ledger's code isn't secretly controlled by Ripple even if the financial institution is a major contributor to the ecosystem. Though the XRP Ledger is "obviously very important" to Ripple, it has no interest in running the network, he added. However, it is crucial to understand why the questions around Ripple's centralized control over the XRP Ledger arise. Schwartz is behind both the payments firm and the ledger. Notably, the XRP Ledger founders have gifted 80 billion XRP to Ripple, out of which the firm has locked 55 billion XRP into a series of escrows using the same ledger. As of October 2024, 38 billion XRP remained in escrow. Besides, XRP Ledger has a very low number of validators running the network as compared to other blockchain networks like Bitcoin and Ethereum. However, Schwartz said that Ripple never censored any transaction. It isn't the first time that such concerns around Ripple's control over XRP have been raised. Earlier in May, Schwartz wrote a detailed comment on X in which he drew the distinction between Ripple and XRP. However, Ripple co-founder Chris Larsen recently moving XRP worth millions of dollars sparked fresh scrutiny. There is, of course, the legal battle around the financial status of XRP that has been going on since 2020. Ripple breaks silence on shocking controversy first appeared on TheStreet on Aug 7, 2025 This story was originally reported by TheStreet on Aug 7, 2025, where it first appeared. 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
Yahoo
2 days ago
- Business
- Yahoo
Trump's Tariffs Land as Crypto Faces Fresh Trade Shock, Mining Concerns
U.S. President Donald Trump's latest tariff salvo is spurring concerns over how global trade tensions could rattle crypto markets, as the measures took effect on more than 90 countries past midnight Thursday. Minutes before the tariffs were set to go live, Trump took to Truth Social to tout the policy, claiming the duties would redirect 'billions of dollars' into the U.S. economy from countries that he said have 'taken advantage of the United States for many years, laughing all the way.' The sweeping duties, framed as "reciprocal" tariffs, are aimed at countries the U.S. accuses of maintaining unfair trade advantages. While the crypto sector isn't directly targeted, analysts say the move could ripple through markets by influencing monetary policy, investor behavior, and infrastructure costs. Min Jung, senior analyst at quantitative trading firm Presto, said most investors no longer expect a significant disruption from tariff headlines alone. "It seems the market has become more immune to tariff-related headlines compared to when the first round of tariffs was introduced," Jung told Decrypt. "Unless there is a significant new escalation, most expect the crypto market to remain resilient." Investors are closely watching the "broader impact of the tariffs," with particular attention to how these "might influence key economic data" the Federal Reserve tracks as they assess rate cuts. While global markets initially leaned risk-off and pushed Bitcoin and Ethereum to sink over the past week, the implementation of the tariffs has reduced some of that uncertainty. "This has become the new normal, and we expect volatility to gradually decrease as markets adjust," Jay Jo, senior analyst at Tiger Research, told Decrypt. Over time, "tariff tensions will disrupt trade flows and economic stability," Jo said, adding that prolonged trade friction could push more people toward using crypto as 'alternative payment methods and stores of value.' Mining matters The new measures have already caused "short-term volatility" but could "boost interest in Bitcoin as a non-sovereign asset," Vincent Liu, chief investment officer at Kronos Research, told Decrypt. Still, the tariffs may place "continued strain on blockchain ecosystems," with the broader impact hinging on how traditional markets and the U.S. dollar respond in the days ahead, Liu said. The mining sector faced similar stress earlier this year when Trump first threatened sweeping tariff hikes. U.S.-based firms hurried to import ASIC machines before potential price hikes, chartering cargo flights and paying premiums to meet deadlines. Coinbase Shares Hit 7-Month Low as Bitcoin Miners Tumble Amid Trump Trade War Some of those pressures are already being felt in crypto's physical infrastructure. "At this stage, no monumental shift in the overall crypto market is expected as a direct result of the tariff-related developments," Jung said. "That said, in the Bitcoin mining ecosystem, rising hardware costs and logistical hurdles could accelerate shifts in mining locations, supply chains, and capital expenditure strategies." Liu echoed this concern, warning that if tariff tensions persist, it could deepen the strain on miners, slowing development and concentrating power among 'players with stronger supply chains.'
Yahoo
4 days ago
- Business
- Yahoo
Bitcoin Recovery at Risk Amid Macro Headwinds
Bitcoin's slow strut over the weekend has partially undone last week's losses, but analysts remain cautious. While the top crypto is up 1.5% from Saturday's low of $112,692, its recovery may be short-lived due to mounting headwinds, and a sharp reversal is possible, according to experts Decrypt spoke to on Monday. The first major headwind is an overexposed US equity market. Nomura data shows that Commodity Trading Advisor (CTA) positions are at 110% long equity exposure—a level not seen in four years. This has driven "market momentum," as Han Qin, CEO of tokenized investment platform Jarsy, told Decrypt, but he adds that this also makes the market "more vulnerable to sharp reversals." A broad equity pullback triggered by CTA deleveraging could cause risk assets, including Bitcoin, to face short-term pressure. This pressure from traditional markets is coupled with sustained selling from within the crypto space itself. Sean Dawson, head of research at on-chain options platform Derive, toldDecrypt that options traders are bracing for a pullback, targeting $100,000 to $80,000 puts. These traders are expecting a price reversal of somewhere between 10% and 30% over the next month. The outlook is made even more sensitive by recent macroeconomic data. The downward revisions of the Nonfarm Payrolls for May and June by 258,000 have put the market on edge. A Period of "Chopsolidation" Amidst these bearish signals, not everyone anticipates a dramatic crash. Maarten Regterschot, a CryptoQuant analyst, told Decrypt that he doesn't expect Bitcoin to break below $112,000. Instead, he anticipates a period of "chopsolidation" following the recent short-term holder selling spree, suggesting a period of sideways trading is more likely than a full-blown price collapse. While some analysts are hinting at a more aggressive Fed pivot, that potential catalyst is still months away. "Fed pivot is coming," said Fundstrat Capital CIO Tom Lee in a tweet, acknowledging the severity of the downward revisions to jobs data. This sentiment is echoed by Jamie Cox, managing partner at Harris Financial Group, who told Fortune that there "might be a 50-basis-point" rate cut. The CME's FedWatch Tool shows an 81.7% chance of a 25 basis point rate cut in September, 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
