Uncategorized
Weekly Recap: Markets Flat, an Industry Buoyant
Markets-wise, crypto was flat this week. Bitcoin was rangebound ($83,000 to $84,000). And the CoinDesk 20, which tracks about 80% of the market, stayed at about 2,600. Crypto prices suffered from being increasingly correlated with the wider financial markets, which are down on tariff worries and decreased corporate earnings. Some even said the bitcoin bull market was over.
But markets, of course, only tell part of the crypto story. There was a ton of stuff happening and much of it was positive for the industry’s future.
On the regulatory front, Washington agencies are gearing up for an historic “market structure” bill in Congress, Jesse Hamilton reported. Paul Atkins, someone who knows crypto intimately, is nearing confirmation as SEC Chair, as is OCC pick Jonathan Gould. Congress continues hearings on a stablecoin bill, as Tether continues to show its systemic importance (Kris Sandor reported). EU officials are fussing about USD hegemony of stablecoins, and are readying plans for a digital euro or CBDC (Jamie Crawley).
Eric Trump joined Metaplanet, Japan’s answer to Michael Saylor’s MicroStrategy, as the Trump family continues to bet privately and publicly on crypto’s success.
Our reporters did some great deep-dives on protocol projects. Oliver Knight lifted the lid on Cardano’s price surge following ADA’s (sort of) inclusion in a putative national crypto reserve. Interestingly, that project doesn’t measure success in total value locked (TVL), an otherwise universal metric, preferring real-world use cases.
Danny Nelson looked at Pump.fun’s aspirations to dominate DeFi trading on Solana DeFi (following its domination of Solana’s memecoin issuance).
Meanwhile bitcoin miners are feeling the pinch of lower hashrates and declining transaction fees, which has erased post-election gains, Tom Carreras reported.
Jamie Crawley explored the efforts of bitcoin developers to introduce zero-knowledge proofs to that blockchain. (TLDR: it’s hard to soft-fork blockchains with decentralization as good as bitcoin’s).
Our Asia team continued to kill it, particularly in markets coverage. Resident technical analysis wiz, Omkar Godbole, correctly reported on the Fed ending QT as well as highlighting how the Turkish lira’s flash crash led to a surge in bitcoin volume in that country.
Shaurya Malwa continued his strong reporting on XRP, writing about Ripple boss Brad Garlinghouse’s comments on XRP’s chances of being added to the strategic reserve and on Ripple’s IPO plans. Malwa also reported on Raydium’s plan to start a pump.fun rival.
Sam Reynolds, who is based in Hong Kong, covered North Dakota passing a crypto ATM bill as well as reporting on how the man who stabbed Haru Invest CEO could face over a decade in prison.
And lastly, Parikshit Mishra’s swift coverage of Kraken buying NinjaTrader for $1.5 billion trumped most of the competition.
It was one of those weeks when a lot happened under the hood. Prices may be in a plateau. But the industry continued to move forward on lots of fronts.
Uncategorized
True Markets Raises $11M in Series A, Launches Mobile-First DeFi Trading App on Solana
True Markets, a new decentralized finance (DeFi) trading platform focused on stablecoin-native execution, has launched its mobile app on Solana and closed an $11 million Series A, bringing total funding to $20 million, the company said in a press release Tuesday.
The funding round was co-led by Accomplice and RRE Ventures, with participation from Reciprocal Ventures, Variant Fund, and PayPal Ventures.
Seed investors Paxos Ventures and the Solana Foundation, continue to support the firm, True Markets said.
Founded by Coinbase (COIN) and Circle veterans Vishal Gupta and Patrick McCreary, New York-based True Markets aims to deliver a non-custodial, mobile-first DeFi trading experience for retail users, prioritizing speed, simplicity, and transparency.
The app enables stablecoin-powered token trading on Solana, with gasless execution, smart order routing, and embedded key management via Turnkey, all without users surrendering custody of funds, True Markets said.
“Retail traders have been stuck with clunky workflows, unclear pricing, and fragmented liquidity,» said Vishal Gupta, CEO of True Markets, in the release.
«Our goal is to deliver a fairer and more transparent experience that makes asset discovery simple, shows real-time market momentum, and feels as intuitive as the best apps on your phone,» Gupta added.
Backed by infrastructure partners Turnkey and Definitive, the app features real-time market sparklines, automated execution across decentralized venues, and hosted wallets that support immediate funding and trading within a non-custodial framework.
True Markets said it plans to expand into both CeFi and DeFi markets, with future integrations including TrueX, a centralized exchange designed for institutional liquidity and qualified custody.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.
The CoinDesk 20 is currently trading at 3147.53, down 0.7% (-22.88) since 4 p.m. ET on Monday.
Four of 20 assets are trading higher.
Leaders: AAVE (+9.8%) and HBAR (+0.7%).
Laggards: LTC (-6.1%) and FIL (-2.9%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
Energy management firm KULR (KULR) has expanded its bitcoin treasury to more than 800 tokens, with the purchase an additional $9 million worth of BTC.
The latest acquisition — made at an average price of $103,234 each — brings the total amount KULR has spent on the cryptocurrency to $78 million.
This continues the company’s treasury strategy first announced in December last year, under which it committed to holding up to 90% of its surplus cash reserves in bitcoin.
The Houston-based firm, which develops energy storage systems for aerospace and defense, is measuring the success of this pivot using a BTC Yield metric.
That metric tracks the growth in the ratio of bitcoin holdings to the number of shares outstanding, rather than actual dollar returns or revenue. So far in 2025, KULR says that ratio has jumped by 220, according to this morning’s press release.
KULR’s shares are up 3.15% in pre-market trading at $1.3.
True Markets Raises $11M in Series A, Launches Mobile-First DeFi Trading App on Solana
CoinDesk 20 Performance Update: Litecoin (LTC) Drops 6.1%, Leading Index Lower
KULR Boosts Bitcoin Treasury to 800 BTC With $9M Purchase
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