A stunning event recently unfolded in the fast-paced world of decentralized finance, highlighting the immense volatility and inherent risks of high-stakes crypto trading. A prominent figure known as AguilaTrades, a whale trader operating on the Hyperliquid decentralized exchange, suffered a significant financial blow. This AguilaTrades loss amounted to a staggering $1.85 million, incurred over just
Soramitsu, a Japan-based blockchain developer, will help the government of Pakistan build its central bank digital currency effort, after having been involved in similar projects. The Pakistan CBDC pilot is being implemented with offline payment capabilities in mind. Japan-Based Soramitsu Enlisted to Create Pakistan CBDC More countries are developing their central bank digital currencies (CBDCs),
The yen (JPY) strengthened against the dollar (USD) and bitcoin BTC$121,872.68 after U.S. Treasury Secretary Scott Bessent said the Bank of Japan is behind the curve on inflation and will probably have to raise interest rates. “The Japanese have an inflation problem … They’re behind the curve, so they are going to be hiking, and
In July, U.S. tariff revenue soared over 300% to a record $29.6 billion, bringing the total raised since March to over $100 billion. Record Tariff Revenue vs. Widening Deficit In a stunning fiscal surge, U.S. tariff revenue skyrocketed by over 300% in July alone, reaching an unprecedented $29.6 billion in a single month. The record-breaking
Tether’s co-founder and CEO, Paolo Ardoino, started a hot and fresh discussion on the fundamental applications of stablecoins. He drew the audience’s attention towards a sharp contrast between Tether (USDT) and its competitors. On his official X (formerly Twitter) account, Ardoino shared an interesting statistic that 63% of all the transactions involving USDT are only
The stablecoin market is witnessing a remarkable surge. Billions of fresh capital are potentially setting the stage for increased trading activity and asset appreciation. USDT and USDC’s combined growth means investors are positioning for further upside across the crypto market. Billions in Fiat Pour Tether’s USDT saw its market cap climb from $120 billion before
Good Morning, Asia. Here’s what’s making news in the markets: 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. South Korea’s decision to shelve its central bank digital currency pilot
Bitcoin hit a new record high price on Wednesday, and Ethereum may be poised to do the same very soon. But as ETH treasury firms’ stocks have surged on the recent market momentum, shares of at least one of their BTC counterparts are trending in the opposite direction. Lixte Biotechnology’s stock (LIXT) finished the day