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Miden bets on private stablecoins with new USDCx launch. (Unsplash) Miden plans to introduce USDCx, a native stablecoin backed 1:1 by USDC held through Circle’s xReserve infrastructure. Transactions will be private by default, while users can selectively prove balances, provenance and other information to auditors, regulators and counterparties. The stablecoin is expected to debut at the end of this month with the Miden mainnet, targeting payments, trading, payroll and corporate treasury use cas

You're reading Crypto Long & Short , our weekly newsletter featuring insights, news and analysis for the professional investor. Sign up here to get it in your inbox every Wednesday. Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc., CoinDesk Indices or its owners and affiliates. Hi readers, Happy Wednesday, This is your institutional newsletter, Crypto Long & Short. This week: Markets rarely break because capital is scarce, bu

Solana neared the network freeze threshold Wednesday. (Marinade) A routing failure at a major data center provider briefly knocked nearly 29% of Solana’s staked tokens offline, bringing the network close to a full halt, according to staking platform Marinade. Because Solana stops finalizing transactions if more than one-third of staked tokens go offline, the incident left the network within about 20 million tokens of a freeze similar to a five-hour outage in February 2024. The glitch, traced to

Hong Kong's stablecoin options expand with Anchorpoint's own Standard Chartered-led Anchorpoint launched beta access for its HKDAP stablecoin, following its Hong Kong issuer licence secured earlier this year. HashKey Exchange and OSL Group are now authorized distributors, enabling institutional and professional investors to mint and redeem HKDAP tokens. Anchorpoint, a venture with Animoca Brands and HKT, plans to expand HKDAP to retail users by late 2026, targeting broader financial applications

Soon you will pull out your phone, tap to pay with a credit card, a peer-to-peer app, or your bank app, and there is a good chance you will use a stablecoin without ever knowing it. Your experience will not change. But the plumbing behind it will, for the better. That shift is already underway. Stablecoins have grown from about $250 billion in circulation last July to more than $310 billion today, a nearly 25% increase in volume. Congress saw it coming, which is why lawmakers and U.S. President

(joshua-hoehne/Unsplash) Headline CPI rose 0.1% month over month and 3.4% year over year in July. Core CPI increased 0.2% monthly and 2.5% annually, both matching forecasts. Bitcoin held near $64,000 following the report. U.S. inflation in July was in line with expectations, leaving expectations for another Federal Reserve rate hike broadly unchanged. The Consumer Price Index (CPI) rose 0.1% in July from the previous month , compared with economists’ forecast for a 0.1% increase and June’s 0.4%

FlightAware dropped its lawsuit against Kalshi over its flight-cancellation market, which drew extremely low volume and interest. (Bao Menglong /Unsplash) FlightAware abruptly withdrew, without prejudice, its one-day-old lawsuit accusing prediction market Kalshi of misusing its flight data and trademark to power flight-cancellation bets. The dismissal leaves open the possibility of refiling and comes amid social media backlash over alleged incentives for malicious flight disruptions and relative

Russia is moving to restrict retail crypto trading to three tokens (Artem Beliaikin/Unsplash) Russia’s central bank will limit retail crypto trading to bitcoin, ether, and USDT on regulated exchanges starting September 1. Non-qualified investors face a 300,000-ruble (approx. $3,600) annual purchase limit per intermediary, while qualified investors have no cap. The rules add specifics to July legislation, though crypto payments inside Russia remain prohibited under current law. Russia’s central b

The Department of Labor Statistics is due to release July inflation data. (Department of Labor) This is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here , if you haven't already. Wednesday’s big story is XRP (XRP), the payments-focused cryptocurrency. Not only did a bridge linking to the XRP Ledger experience an exploit early today, but the token price also hovers near a level that, if breached, could embolden bears. That level is $1. Prices briefly fell to 99 cents on some exchanges

Bitcoin price (CoinDesk Data) Harmony confirmed a suspected exploit after an attacker minted roughly 4 billion ONE tokens via empty blocks, equal to about 26% of total supply, sending the token to a record low. The July U.S. CPI print is due at 12:30 UTC and is the main macro event of the day. Brent crude is near $90 a barrel after fresh Houthi attacks on shipping in the Bab el-Mandeb Strait and a US strike on a vessel in the Gulf of Oman overnight, complicating the inflation picture. Bitcoin is

The Bank of England announced further experiments with stablecoins and a digital pound for cross-border finance. (Unsplash) The Bank of England’s digital pound project entered Phase 2, testing how public stablecoins and central bank money can operate together in a single payment flow for trade finance. Working with NOBO Finance, Dun & Bradstreet and Polygon Labs in its Digital Pound Lab, the BOE will explore creating reusable credit profiles for small enterprises and using stablecoins alongside

CRWV Share Price (TradingView) CoreWeave jumped nearly 17% after raising its revenue outlook and reporting a $104 billion backlog. The AI infrastructure provider said second-quarter revenue more than doubled to $2.58 billion, narrowly beating expectations, while its net loss of $626 million was smaller than analysts projected. IREN and Cipher Digital gained 5% as investors favored AI data-center exposure over crypto. CoreWeave (CRWV) shares surged 16% in pre-market trading on Wednesday after the

Fidelity is adding staking to its spot ether ETF (Anne Nygård/Unsplash) Fidelity plans to add ether staking and cash distributions to its Fidelity Ethereum Fund (FETH), which has $898 million in net assets. The fund would keep 85% of gross staking rewards, with the remaining 15% going to service providers. The move follows similar initiatives from Grayscale and 21Shares, while BlackRock launched a separate staking product. Fidelity is preparing to add staking and quarterly cash payouts to its Fi

Public miners are an under appreciated supply source. (CoinDesk Archives) Public miners have unloaded roughly 28,000 BTC this year, injecting selling pressure into the market alongside massive outflows from ETFs and long-term holders. Many large miners are exiting or pivoting to AI, easing network difficulty by about 18% and boosting rewards and profitability for those that remain. Bitcoin’s BTC $ 64,050.44 price slide this year isn’t just about exchange-traded funds (ETFs) and digital asset tre

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Kris Marszalek, Crypto.com (Flickr/RISE) Crypto.com starts offering tokenized derivatives tracking 1,500 U.S. stocks and ETFs, including Apple, Tesla and Nvidia. The products provide synthetic exposure to share prices: investors don't own the underlying stock or receive voting and other shareholder rights. The launch adds to a rush by crypto exchanges into equities and a growing debate over what a tokenized stock should actually represent. Crypto.com is pushing deeper into stocks, rolling out to

Strategies preferred by traders ahead of the CPI release. (Jakub Żerdzicki/Unsplash) Wednesday’s U.S. CPI may move BTC out of its recent choppy trading range. Some traders are chasing upside exposure via options while others are setting up strategies that benefit from a volatility boom. Analysts pointed to cautiously bullish sentiment in the market. The July U.S. consumer price index hits the wires Wednesday morning, and it is shaping up as a classic binary event for bitcoin and other cryptocurr

Harmony’s ONE falls 26% after attacker allegedly mints 4 billion tokens. (Unsplash) Harmony’s ONE token plunged about 40% after an apparent exploit created roughly 4 billion new tokens, increasing the supply by more than a quarter. The Harmony team confirmed the incident, said it is working with exchanges to freeze funds, and is preparing a software patch and possible rollback of the blockchain. The episode follows earlier security and token-creation issues on Harmony, including a 2022 $100 mill

Harmony’s ONE falls 26% after attacker allegedly mints 4 billion tokens. (Unsplash) Harmony’s ONE token plunged about 26% after an apparent exploit created roughly 4 billion new tokens, increasing the supply by more than a quarter. The Harmony team confirmed the incident, said it is working with exchanges to freeze funds, and is preparing a software patch and possible rollback of the blockchain. The episode follows earlier security and token-creation issues on Harmony, including a 2022 $100 mill

Dogecoin price today. (CoinDesk Data) Dogecoin led major cryptocurrencies with a nearly 3 percent daily gain, while bitcoin was the only large token lower on both the day and the week. Asian equities rallied on strong semiconductor earnings, with Korea’s Kospi jumping 4.6 percent and gains in Samsung Electronics and SK Hynix lifting regional benchmarks. Investors are focused on Thursday’s U.S. CPI report and Middle East tensions, as lower inflation and a potential Fed pivot could fuel a relief r

Dogecoin price today. (CoinDesk Data) Dogecoin led major cryptocurrencies with a nearly 3 percent daily gain, while bitcoin was the only large token lower on both the day and the week. Asian equities rallied on strong semiconductor earnings, with Korea’s Kospi jumping 4.6 percent and gains in Samsung Electronics and SK Hynix lifting regional benchmarks. Investors are focused on Thursday’s U.S. CPI report and Middle East tensions, as lower inflation and a potential Fed pivot could fuel a relief r

XRP bridge drained for $200,000 after software mistook fake deposits for real ones. (Unsplash) Nearly 200,000 XRP, worth about $200,000, were drained from a bridge linking the XRP Ledger to the tx blockchain after an attacker exploited a software flaw. The bug let the bridge register non-existent deposits as real, issuing unbacked bridged XRP that the attacker then used to withdraw genuine XRP from the reserve wallet. Tx says it has halted the bridge, patched the vulnerability, hired blockchain

Spark (MyriamsFotos/Pixabay, modified by CoinDesk) Bitcoin has been stuck in a narrow trading range of about $62,000 to $66,000 for weeks as steady ETF buying is largely offset by selling from miners and corporate holders such as MicroStrategy. Trading volumes and implied volatility have slumped to multiyear lows, leaving the market with limited momentum and positioning that suggests investors are well hedged rather than betting on a sharp move. Wednesday’s U.S. CPI report and potential regulato

U.S. Commodity Futures Trading Commission Chairman Mike Selig (Jesse Hamilton/CoinDesk) The U.S. Commodity Futures Trading Commission announced it had ordered prediction market operator Kalshi to continue operating in New York after the state filed a lawsuit seeking to shutter the platform. The CFTC used its "emergency authority" to require Kalshi to continue operating after Kalshi asked for help following New York State Attorney General Letitia James' lawsuit against the company at the end of J

(Tupungato / Shutterstock) Itaú, Latin America’s largest bank by assets, is working with OpenAssets on an industry-led test of tokenized fixed income and investment funds. Brazil has emerged as a testing ground for putting bonds, credit and other financial assets on blockchains under regulated structures. Brazil’s biggest bank is taking another step into tokenized assets, adding to a growing list of the country’s financial heavyweights experimenting with putting traditional investments on blockc

Despite crypto revenue dropping nearly 120% in Q2 compared last year's second quarter, Yoni Assia, eToro CEO, said “We delivered another strong quarter." (Vanja Savic/Wikimedia Commons) EToro swung to a $7.2 million loss in crypto trading in the second quarter of 2026, from a $37.7 million profit a year earlier, as cryptoasset revenue fell to $1.35 billion from $1.91 billion. Crypto activity on the platform has cooled sharply, with July crypto trades down 73% year over year and the average trade