Crypto venture capitalists are a “lot more careful” and not just jumping on every hot narrative, says a Bullish Capital Management executive. Crypto venture capitalists are dialing back their risk appetite, avoiding the hot flavor of the month and applying a more critical lens to investments, according to Bullish Capital Management director Sylvia To. “VCs are a lot more careful now. It’s not just a narrative play. Before you could throw a check and say, Oh, there’s another L1 but it’s going to be an Ethereum killer,” To told Cointelegraph during a sit-down interview at Token2049 in Singapore. “Then subsequently, you saw all these new chains forming,” she said, explaining that the market became fragmented and a lot of funds were being deployed to new layer 1s and new infrastructure, which isn’t viable anymore. Read more
The Bitcoin four-year cycle is driven more by "human emotion" and will likely continue to play out in “some form,” according to a crypto executive. While Bitcoin’s four-year cycle may not play out exactly as it has in the past, that doesn’t mean the concept is entirely dead, according to a crypto executive. “I think when it comes to the four-year cycle, the reality is that it’s very likely that we’ll continue to see some form of a cycle,” crypto exchange Gemini’s head of APAC region, Saad Ahmed, told Cointelegraph during a sit-down interview at Token2049 in Singapore. “It ultimately stems from people get really excited and overextend themselves, and then you kind of see a crash, and then it kind of corrects to an equilibrium,” Ahmed said. Read more
Crypto exchange Coinbase is pursuing a National Trust Company Charter in the US, but said it has "no intention of becoming a bank." Crypto exchange Coinbase has applied for a National Trust Company Charter with the US Office of the Comptroller of the Currency (OCC), joining a growing number of US-based crypto companies pursuing the same license. “Coinbase is taking a significant step in expanding our business capabilities and regulatory oversight beyond the existing framework, paving the way for innovation and growth in building a modern financial system powered by digital assets,” Coinbase said in a statement on Friday. According to Coinbase, pursuing the license is part of its strategy “to bridge the gap between the crypto economy and traditional financial system.” However, it has no interest in changing the core focus of its operations: Read more
Bitcoin rallied close to $124,000 as surging US demand for BTC, shifting Federal Reserve monetary policy and hopes for a bullish Q4 lifted investor sentiment. Key takeaways: Bitcoin rallied 14% in a week, eyeing $124,000 amid a US government shutdown. Onchain data showed a $1.6 billion surge in buying and a Coinbase premium gap of $92, signaling US-led demand. Read more
As stablecoins pass $300 billion market cap, Paxos Labs’ Bhau Kotecha says AI agents could turn market fragmentation into an advantage by routing liquidity to top issuers. The next wave of stablecoin adoption may not be led by people at all. Paxos Labs’ co-founder says AI agents could become the “X-factor,” instantly shifting liquidity to the most efficient issuers and turning market fragmentation into an advantage. With clearer regulations around stablecoins passing in the United States, the stablecoin market has surged past $300 billion, becoming one of crypto’s central narratives. However, fragmentation across issuers and jurisdictions remains a challenge. As new entrants join an increasingly diverse field — from dollar-backed leaders like Tether and Circle, to synthetic assets like Athena, and PayPal’s PYUSD, which targets consumer payments — questions have arisen over whether fragmentation could pose a problem to the industry. Read more
The plaintiffs failed to show how Bored Ape Yacht Club and other NFTs represent investment contracts under the SEC's 3-pronged Howey Test. A US judge has dismissed an investor lawsuit against Web3 company Yuga Labs, ruling that the case failed to show non-fungible tokens (NFTs) meet the legal definition of securities. Judge Fernando M. Olguin ruled the plaintiffs did not demonstrate how Bored Ape Yacht Club (BAYC), ApeCoin (APE) or other NFTs sold by Yuga satisfied the three conditions of the Howey test, a standard used by the Securities and Exchange Commission (SEC) to determine whether a transaction qualifies as an investment contract. The lawsuit was originally filed in 2022. Yuba Labs marketed its NFTs as digital collectibles with membership perks to an exclusive club, making them consumables rather than investment contracts, Olguin said. He wrote: The judge also said the plaintiffs failed to show that the Bored Ape Yacht Club and other NFT collections launched by Yuga are a “common enterprise” with the e...