The on-chain analytics firm‘s focus on decentralized finance and non-fungible tokens had fallen out of step with the industry‘s current trajectory. On-chain analytics firm Parsec is closing down after five years, as crypto trader flows and on-chain activity no longer resemble what they once did. “Parsec is shutting down,” the company said in an X post on Thursday, while its CEO, Will Sheehan, said the “market zigged while we zagged a few too many times.” Sheehan added that Parsec’s primary focus on decentralized finance and non-fungible tokens (NFTs) fell out of step with where the industry has now headed. Read more
White House crypto adviser Patrick Witt reportedly refocused crypto and bank lobby talks on a crypto bill to allow stablecoin rewards tied to transaction activity. The White House has reportedly refocused talks between crypto and bank lobbyists on limiting how stablecoin rewards should be paid in the third meeting between the two groups over a crypto market structure bill. Crypto and banking industry representatives met at the White House on Thursday for the third time in 16 days to discuss stablecoin provisions that have stalled the crypto bill, which the Senate is looking to pass. No agreement was reached on Thursday, but executives at Coinbase and Ripple said progress was made, as one of the White House’s crypto advisers urged a trade-off that would let third parties, such as exchanges, offer stablecoin rewards only on transaction activity, not on balances. Read more
King Charles’ younger brother Andrew Mountbatten-Windsor was released from police custody on Thursday evening after being arrested on suspicion of misconduct in public office over allegations he sent confidential government documents to Jeffrey Epstein. Mountbatten-Windsor, who turned 66 on Thursday, had been questioned all day by detectives from Thames Valley Police. Earlier this month, the police force said it was looking into allegations that he had passed documents to the late convicted sex offender while working as a trade envoy. The arrest of the senior royal, eighth in line to the throne, is unprecedented in modern times. “I have learned with the deepest concern the news about Andrew Mountbatten-Windsor and suspicion of misconduct in public office,” King Charles said in a statement. A Reuters witness saw the former prince leaving a police station in Aylsham, eastern England, where he was met by a small group of photographers and television crews, just after 1900 GMT. A Reuters photograph taken after hi...
Bitdeer has launched its second-ever convertible senior note offering, which has seen its shares tumble 29% so far this year. Shares in Bitdeer Technologies Group took a hit on Thursday after the Bitcoin mining and artificial intelligence infrastructure firm announced a $300 million convertible senior note offering. Bitdeer said that it intends to offer a “principal amount” of $300 million in convertible senior notes with an option for purchasers to buy an additional $45 million in a private placement. It is the second convertible note offering from the firm, following a $150 million offering in April 2024 that also triggered an 18% stock slump. Read more