Author: Ethan Carter

Greetings from The Protocol, CoinDesk’s weekly overview of crucial developments in cryptocurrency technology. I’m Margaux Nijkerk, a journalist at CoinDesk.In this edition:Ethereum’s Fusaka Upgrade Completes Final Testing Before Mainnet LaunchBOB Introduces Bitcoin Vault Liquidation Engine for BTC-Backed Stablecoin LendingLedger Launches $179 Nano Gen5, Designed for Identity in an AI-Driven EraGoogle Announces Quantum Breakthrough to Reignite Bitcoin Ramifications DiscussionNetwork UpdatesFUSAKA GOES LIVE ON HOODI, ETHEREUM MAINNET NEXT: The concluding rehearsal for Ethereum’s upcoming Fusaka upgrade took place on Tuesday as the blockchain gears up for the mainnet hard-fork activation. The trial, which started around 18:53 UTC on the Hoodi testnet, involved…

Grayscale Investments has introduced its staking-enabled Solana spot exchange-traded fund (ETF), broadening institutional access to Solana investments.As per a Wednesday announcement, the Grayscale Solana Trust ETF is now traded under the GSOL ticker on the NYSE Arca platform. This product features staking capabilities, enabling investors to earn rewards via Solana’s proof-of-stake (PoS) network.Grayscale’s senior vice president of ETFs, Inkoo Kang, remarked that this new offering “expands investor choice.” The firm has become one of the largest Solana (SOL) exchange-traded product (ETP) managers in the U.S. in terms of assets under management.This launch follows the introduction of Bitwise’s staking Solana ETF…

Key points:Bitcoin faces challenges in regaining its previous highs following the recent downturn.The new targets for BTC price during this “volatile retest” are set at $111,000 and a $114,500 weekly close.Anticipation of Fed rate cuts has led the S&P 500 to reach new record levels.Bitcoin (BTC) remained under pressure at the start of Wall Street on Wednesday, coinciding with record highs in US stocks.BTC/USD one-hour chart. Source: Cointelegraph/TradingViewBitcoin undergoes “volatile retest” as FOMC approachesData from Cointelegraph Markets Pro and TradingView indicated BTC price movement hovering around $113,000.BTC/USD is recovering from losses incurred during Tuesday’s US session, having failed to rebound…

Historically, Europe’s wealth has been quantified in gold and bonds. However, two of its prominent economies are poised to introduce a new element to their strategic reserves.This week, it was revealed that leaders in Germany and France have each proposed plans to create a national Bitcoin reserve, a move that has the potential to reshape state reserve frameworks.This initiative represents the first significant effort by major European nations to recognize BTC as a sovereign asset.Bitcoin Reserve Initiatives by France and GermanyFrance’s proposal was the first to emerge and is notably detailed.On October 28, Éric Ciotti, President of the Union de…

Crypto exchange Binance is collaborating with blockchain data platform Bubblemaps to enhance insights for users of its non-custodial Web3 Wallet regarding potential insider trading and token manipulation.This integration will enable millions of Binance Web3 Wallet users to access Bubblemaps’ blockchain data visualization tool, allowing them to view token distribution and on-chain wallet clusters, aiming to introduce “layers of transparency” to the Binance experience, as announced on Wednesday by Cointelegraph.Binance seeks to assist traders in identifying insider trading activities or other coordinated market behaviors by analyzing a token’s distribution patterns.“As more traders and activity transition on-chain, the demand for accessible, transparent…

TeraWulf (WULF) is set to raise up to $575 million through a private offering of convertible senior notes, as it pivots from bitcoin mining to supporting artificial intelligence infrastructure.The company announced on Wednesday that it plans to issue $500 million in convertible senior notes due in 2032, with an option for purchasers to add another $75 million. This offering is restricted to qualified institutional investors.Shares fell 5% in premarket trading after a 17% increase the previous day.The funds will be used to develop a data center in Abernathy, Texas. This initiative is expected to be part of a recently unveiled…

Western Union (WU) shares increased by 6.5% on Tuesday following the announcement of their plan to launch the U.S. Dollar Payment Token (USDPT) on Solana, issued by Anchorage Digital Bank, in addition to a crypto off-ramp network named the Digital Asset Network.This initiative highlights that stablecoins represent an opportunity rather than a challenge for remittance companies willing to innovate, as noted by investment bank William Blair.Analysts from the bank anticipate more information during Western Union’s investor day on November 6, expressing that stablecoin remittances could accelerate settlements, reduce pre-funding requirements, and enhance capital efficiency, particularly in markets vulnerable to inflation.The…

The recent surge in stocks, driven by Nvidia (NVDA), has resulted in the S&P 500 and Nasdaq outperforming bitcoin BTC$112,364.32.With further gains observed on Tuesday and a decline in bitcoin, the S&P 500’s 17% year-to-date rise surpasses BTC’s 16% increase. Meanwhile, the Nasdaq has extended its advantage over bitcoin, rising by 24%. Gold continues to dominate as the leading asset class with a remarkable 50% increase.No discussion of the U.S. stock rally is complete without mentioning the Mag 7, particularly Nvidia (NVDA). Shares have risen by 17% over the last five days, fueled by a steady stream of AI-related partnership…

Binance, the crypto exchange, is collaborating with Bubblemaps, a blockchain data platform, to enhance insights into potential insider trading and token manipulation for users of its non-custodial Web3 Wallet. This integration will provide millions of Binance Web3 Wallet users with access to Bubblemaps’ blockchain data visualization tools, enabling them to explore token distribution and on-chain wallet clusters, thereby adding “layers of transparency” to the user experience, as stated in a Wednesday announcement to Cointelegraph. Through this partnership, Binance aims to assist traders in recognizing insider trading or other coordinated market behaviors by examining token distribution patterns. “As on-chain trading continues…

Greetings from the US Crypto News Morning Briefing—your crucial update on today’s key crypto happenings.Get your coffee ready; the markets are anything but steady this week. With shifting whale dynamics, unprecedented Bitcoin sell-offs, and a critical Fed decision looming, traders are bracing for an exciting showdown as bulls and bears vie for dominance in the next major crypto shift.Crypto News of the Day: Whales Restructure, Holders Sell, and Traders Anticipate Powell’s RemarksCrypto markets are preparing for volatility as whales shift their positions and long-term holders exit ahead of a crucial Federal Reserve meeting. With traders divided between taking risks and…