Crypto Market Navigates Price Dips, Regulatory Hurdles, and Strategic Shifts
Crypto Market Navigates Price Dips, Regulatory Hurdles, and Strategic Shifts
The crypto market faces a mix of challenges and strategic developments. Bitcoin has seen significant price drops, erasing recent gains and leaving a large portion of its supply underwater, although some analysts remain bullish on its long-term prospects. Regulatory scrutiny is increasing, with Canada setting new rules for crypto custody and a dark web market founder receiving a lengthy sentence for crypto-based drug sales. Meanwhile, institutional players like Bitwise and Ark Invest are making strategic moves, with Bitwise acquiring a staking provider and Ark investing in various crypto-related entities. DeFi protocols are also undergoing changes, as Aave Labs refocuses its efforts amidst internal tensions, and Ethereum's co-founder reconsiders its roadmap. Exchanges like Kraken and Crypto.com are reporting strong revenues and expanding their service offerings, indicating continued institutional interest and diversification within the industry despite broader market volatility.
Incognito Market founder sentenced to 30 years for crypto-based dark web drug market
Prosecutors said the platform facilitated over $105 million in crypto-based narcotics sales between October 2020 and March 2024.
Bitwise to acquire crypto staking provider Chorus One: Bloomberg
Bitwise CEO Hunter Horsley said staking is a key growth opportunity for clients holding spot crypto assets.
Canada’s investment watchdog sets new rules for crypto custody
The framework sets a tiered structure for custodians, determining the proportion of client assets they can hold.
Ark Invest scoops up more Bitmine, Circle shares as crypto slump continues
Ark Invest CEO Cathie Wood recently indicated on X that gold's recent price rally could be a precursor to bitcoin's next bull run.
Aave Labs sunsets Avara ‘umbrella brand’ and Family wallet as it refocuses on DeFi
The move comes amid ongoing tensions with Aave DAO over which entity ultimately controls the Aave lending protocol.
Bitcoin tests $73,000, erasing gains since Trump’s election night win
A Glassnode analyst noted that 44% of the bitcoin supply is "now underwater," given that the token has dropped about 30% in the past month.
The Daily: Bitwise CIO on the ‘Leonardo-DiCaprio-in-The-Revenant-style crypto winter,’ Vitalik reconsiders Ethereum’s rollup-centric roadmap, and more
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Robinhood CEO’s AI startup sponsors former Eclipse founder accused of sexual misconduct
At the time the former Eclipse CEO and founder Neel Somani acknowledged but denied allegations of sexual harassment.
Kraken parent Payward reports $2.2 billion adjusted 2025 revenue as business diversifies through acquisitions, investments
Payward derived about 47% of its revenue from trading operations and the remaining 53% from its growing list of other services.
Crypto.com spins out OG prediction markets app as monthly volumes top $17 billion ahead of Super Bowl
Crypto.com is splitting out prediction markets into a standalone app, as competition among exchanges to offer event-based trading swells.