Author: NBTC

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.The maturing digital assets market that has sophisticated market making, capital markets, and decentralized finance, is still lacking one key market infrastructure to compete with traditional finance: an institutional-grade credit agency. Architect aims to change this by launching crypto’s first institutional-grade credit ratings service, similar to traditional finance’s Moody’s – because most TradFi ratings agencies just won’t…

Coinbase CEO Brian Armstrong applauds the exchange’s move to add XRP and Solana to its perpetual futures offering in the United States. For context, Coinbase recently added XRP and Solana to the list of supported assets for perpetual-style futures. Notably, the inclusion of XRP and Solana raises the total number of assets available for perpetual futures to four. The San Francisco-based exchange launched the perpetual futures offering for U.S. customers last month, with initial support for Bitcoin and Ethereum. Less than a month after this launch, Coinbase has now expanded the offering to include XRP and Solana. Reacting, Coinbase CEO…

Ethereum core developer Federico Carrone, known as “Fede’s Intern” on X, confirmed he has been released after being detained in Turkey for 24 hours over alleged links to a Ethereum privacy protocol. “I’m finally out, safe and free. There was a small moment were things looked very bad but thanks to help from many I got released,” Carrone said in an X post on Monday. According to Carrone, Turkey’s Minister of Internal Affairs accused him of “helping others miuse Ethereum” in alleged connection to a privacy protocol. Carrone said he believes it is linked to a January 2022 research paper…

Investors withdrew money from U.S.-listed spot bitcoin exchange-traded funds (ETFs) for the fourth consecutive trading day as U.S. service sector data raised the stagflation bogey.The 11 ETFs registered a cumulative net outflow of $196 million on Tuesday, with Fidelity’s FBTC and BlackRock’s IBIT accounting for the giant share of the tally, according to data source SoSoValue. The four-day outflow streak, the longest since April, began on Thursday when the ETFs bled $114.83 million, followed by $812.25 million on Friday and $333.19 million on Monday. The U.S. ISM Non-Manufacturing or services PMI released on Tuesday showed tariff-driven inflation, employment weakness and…

Crypto exchange Kraken has acquired the assets and technology of Capitalise.ai, an Israel-based startup that built a natural-language, no-code platform for automating trading strategies across multiple asset classes, the company said in a press release Wednesday. Keefe, Bruyette & Woods, a Stifel company, acted as financial advisor to Capitalise.ai. Financial details of the acquisition were not disclosed. Founded in 2015, Capitalise.ai developed a system that lets users turn everyday text into executable trading strategies. The company’s technology supports real-time and historical data analysis spanning equities, crypto, FX, futures and options. Its tools have been used by a range of traditional…

Ethereum price found support near the $3,950 zone and started a fresh surge. ETH is rising and might soon aim for a move above the $4,320 zone. Ethereum started a fresh increase above the $3,880 and $4,150 levels. The price is trading above $4,100 and the 100-hourly Simple Moving Average. There is a bullish trend line forming with support at $4,250 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it remains supported above the $4,150 zone in the near term. Ethereum Price Eyes Fresh Surge Ethereum price started a fresh…

This is a segment from The Breakdown newsletter. To read more editions, subscribe. PUMP token holders now find themselves in the odd position of hoping the money they just sent to Pump.fun will soon be returned to them. That’s the mood on Crypto Twitter, at least, where influential accounts keep pointing to Pump.fun’s estimated $2 billion cash pile as the bull case for PUMP (see here, here, here and here). The problem, of course, is that token holders have no claim on that cash — even though they supplied most of it. In IPOs, stock market investors send their money…

A new proposal suggests the building of Ronin L2 as an Arbitrum Orbit chain, with this coming as the Ronin team plans to migrate the gaming chain into a full-fledged, Ethereum-aligned layer 2 by 2026. Summary A proposal that seeks to build Ronin L2 on Arbitrum is live. The move comes as Ronin, launched as layer 1 blockchain by Sky Mavis, looked to return to Ethereum as a full-fledged L2 chain. RON will power the new chain’s ecosystem as a gas fees token. According to the proposal, Arbitrum (ARB) is uniquely positioned to help Ronin (RON) as the L2 looks…

Over $800,000 worth of “blue chip” NFTs are still being held in contracts of Parallel Finance, despite it pulling support for its NFT lending product after a six-month notice period. With no front end support for NFT lending, non-technical users are unable to withdraw their tokens manually, and the Parallel team is reportedly charging a $500 fee to return the assets. Yuga Labs’ 0xQuit highlighted the predicament on X, as well as posting a step-by-step guide on how to manually withdraw assets using the Etherscan block explorer. Read more: Pudgy Penguins CEO’s Instagram hacked to shill Pump Fun token Users…

Ether prices extended their recent gains on Monday, August 11, rising above $4,300 and reaching their highest value since late 2021, as the digital currency benefited from a combination of factors. Greg Magadini, director of derivatives for digital asset data provider Amberdata, spoke to this development, stating via email that “There isn’t one clear catalyst for today’s continued rally but instead a confluence of themes.” “We can see from the YTD perp funding differential between ETH and BTC, that ETH was an under positioned crypto all year as the sentiment for ETH was poor (due to foundation infighting, EIP-1559 being…