Business

BIS says stablecoins are more like ETFs than actual money

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Currency nightmare Crypto was supposed to be an alternative to fiat, especially the dollar. Stablecoins do the opposite, accelerating dollarization in the process, the BIS said. The report found increasing flows of non-dollar currencies into US dollar-pegged stablecoins, and said these flows could weaken domestic currencies in the spot market. They also expose friction in […]

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Crypto exchange BitMEX removes CEO, CFO and head of growth

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BitMEX, the troubled cryptocurrency exchange that is reportedly looking for a buyer, has cleared out its management team, removing CEO Stephan Lutz, CFO Ina Steiner and head of growth Raphael Polansky, CoinDesk has learned. The firm’s former global general counsel and chief operating officer, Peter Wilkinson, has taken over as CEO. The measures were highlighted

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Bitcoin Bottom May Not Be In As S.Korea Announces Massive $518 Billion AI Chip Push

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SK Hynix has become the dominant supplier of these chips, a position that made it South Korea’s most valuable listed company this month, overtaking Samsung for the first time in 25 years. The two companies together supply most of the world’s HBM and have entered into supply agreements with Nvidia and OpenAI. Such spending is

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4 billion dollars away. Spot bitcoin ETFs are heading for their worst month ever

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U.S. spot bitcoin ETFs have recorded $4.06 billion in net outflows this month, according to data from SoSoValue. It marks the largest monthly redemption on record, surpassing the previous high of $3.56 billion in February 2025. Last week, the funds saw redemptions of about $1.79 billion, the second-highest weekly outflows since trading began in January

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Philippe Stern, heir to the Patek Philippe watch brand, dies aged 88

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Philippe Stern, who inherited one of the world’s leading luxury watch brands, Patek Philippe, and overcame an existential threat to Swiss watchmaking from cheaper, more accurate quartz watches in the 1970s, died on June 14. He was 88 years old. The Geneva-based Patek Philippe, where Mr. Stern was president from 1993 to 2009, announced his

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CZ wants to make the US the ‘crypto capital’: the Cryptostate

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CZ told CoinDesk over the course of two interviews that he saw several reasons for crypto’s 2026 bear market, including investors shifting funds to AI, geopolitical events and the usual four-year crypto market cycle. He laid out his goals for Binance.US – the US crypto exchange that he majority owns but does not operate on

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Why SBI Paid $289 Million for an Unprofitable Crypto Exchange: Architect Partners

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SBI Holdings is a financial services group with businesses spanning securities, banking, insurance, wealth management and venture capital with a market capitalization of approximately $11 billion. The Tokyo-based company is one of Japan’s most active traditional financial participants in digital assets, with efforts and partnerships across crypto trading, liquidity, tokenization, stablecoins and blockchain-based settlement. Bitbank

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Samson Mow says bitcoin’s bottom is in, but analysts remain divided

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Mow is not the first to argue that bitcoin’s traditional four-year cycle has changed. After bitcoin surged to an all-time high before the April 2024 halving, several analysts suggested growing institutional demand following the launch of US spot bitcoin ETFs may change the pattern that has historically followed each halving. However, others argued that it

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