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The NSC Labels Blockchain a National Security Issue

On the weekly recap, NLW looks at growth in institutional investment, big interest among the G20 in CBDCs and a new National Security Council report.

Actualizado 14 sept 2021, 10:11 a. .m.. Publicado 17 oct 2020, 1:00 p. .m.. Traducido por IA
Breakdown 10.17

On the weekly recap, NLW looks at growth in institutional investment, big interest among the G20 in CBDCs and a new National Security Council report.

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This episode is sponsored by Crypto.comNexo.io and Elliptic.

On this edition of The Breakdown weekly recap, NLW looks at:

  • Growth in the institutional investment space in crypto
  • A new 10,000 BTC treasury announcement
  • Reports from the Bank for International Settlements, G20, WEF, IMF and more around central bank digital currencies
  • A National Security Council report labeling distributed ledger technology key for national security

This week on The Breakdown:

Monday | How Investors Are Trading the Election

Tuesday | The IMF, G20 and BIS Gear Up for the Central Bank Digital Currency Era

Wednesday | A $10B Firm Makes Bitcoin Its Primary Treasury Asset

Thursday | Is Crypto Converging With Public Markets?

Friday | RAC on the First Truly Free Markets for Music and Culture

For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.

Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.

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KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market

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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.

Lo que debes saber:

  • KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
  • This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
  • Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
  • Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
  • Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.

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How a 'perpetual’ stock trick could solve Michael Saylor’s $8 billion debt problem

Strive CEO Matt Cole speaks at BTC Asia in Hong Kong (screenshot)

The bitcoin treasury firm is using perpetual preferreds to retire convertibles, offering a potential framework for managing long-dated leverage.

Lo que debes saber:

  • Strive upsized its SATA follow on offering beyond $150 million, pricing the perpetual preferred at $90.
  • The structure offers a blueprint for replacing fixed maturity convertibles with perpetual equity capital that removes refinancing risk.
  • Strategy has a $3 billion convertible tranche due in June 2028 with a $672.40 conversion price, which could be addressed using a similar preferred equity approach.