Cryptocurrency Financial News
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 3017.9, up 2.5% (+75.0) since 4 p.m. ET on Friday.
Eighteen of the 20 assets are trading higher.
Leaders: FIL (+7.3%) and SOL (+6.2%).
Laggards: BCH (-2.2%) and APT (-1.0%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
Financial derivatives provider Eightcap is now offering a contract for difference (CFD) based on the CoinDesk 20 Index (CD20), which offers a weighted performance of the largest digital assets.
The CD20 CFD is now available to traders in both fiat and USDT pairs as an over-the-counter (OTC) derivatives product to retail traders, according to an announcement on Monday.
CFDs are derivatives instruments where traders and brokers exchange the difference in an asset's value at the opening and closing of a contract.
The CD20 CFD will “bridge the gap between traditional finance and the digital asset space by delivering institutional-grade crypto index access within a robust, compliant framework,” Eightcap said in the announcement.
Melbourne-based Eightcap holds regulatory licenses in the U.K., European Union (EU) and Bahamas, as well as its native Australia.
Provision for regulated CFDs represents growing maturity in the crypto industry as they provide traders with the type of investment products that they would recognize from the traditional financial (TradFi) world.
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 2955.67, down 0.4% (-11.81) since 4 p.m. ET on Thursday.
Nine of 20 assets are trading higher.
Leaders: AAVE (+3.0%) and APT (+2.2%).
Laggards: FIL (-2.0%) and XRP (-1.8%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
What do the latest crypto IPOs mean for the market? Aaron Brogan of Brogan Law breaks it down in today’s Crypto for Advisors newsletter.
Then, Jean-Marie Mognetti, CEO of CoinShares, provides insights from their latest investor insights survey about what clients are looking for from their advisors in terms of crypto support in Ask an Expert.
Please note that there will be no newsletter next week. We are taking the week off in lieu of the holidays — we wish you a happy Canada Day and Independence Day for those celebrating. We will be back on July 10th.
Cryptocurrency is typically viewed as an alternative to traditional securities markets. Lately, this trend may have reversed, as cryptocurrency is increasingly a factor in public equity markets.
Since January, there have been three major crypto IPOs:
May 14, 2025 – eToro Group Ltd., a trading platform, raised approximately $619 million in its initial offering, valuing the company at about $5.6 billion. Its market cap has since decreased slightly to $5.17 billion.
May 16, 2025 – Galaxy Digital Inc. uplisted from the Toronto Stock Exchange to Nasdaq, raising approximately $602 million in a mixed primary and secondary share sale priced at $19 per share. The deal valued the company at just over $8 billion. Its market cap has since settled at approximately $7.19 billion.
June 5, 2025 – Circle Internet Group Inc., the issuer of USDC, raised approximately $1.05 billion in its IPO, selling 34 million shares at $31 apiece. The offering initially valued the company at about $8 billion, but a sharp post-offering rally has pushed its market cap to $43.9 billion.
Each of these IPOs is remarkable, considering the extremely punitive regulatory environment of just one year ago, but Circle is in a class of its own. Circle raised the most money, and in the immediate aftermath, its stock popped by many multiples, indicating overwhelming demand. The pop was so extreme, in fact, that some felt the firm “left money on the table” and questioned the motives of the bankers involved.
In the wake of Circle’s success, a number of other cryptocurrency firms are considering public offerings. On June 6, Gemini announced that it had submitted a confidential S-1 to the SEC, and on June 10, it was reported that Bullish followed. Numerous other firms, including Kraken, BitGo and ConsenSys, have reportedly also considered public turns.
Yet, for these aspirants, the $20 billion question remains: Why has Circle exceeded expectations? Here are my three theories:
1. Public Market Comps
Circle was not the first crypto company to outperform. Most famously, Michael Saylor’s MicroStrategy (d/b/a Strategy) has, in recent years, become a bitcoin holding company with a rump software business. Currently, Strategy holds 592,100 bitcoin, valued at approximately $62 billion, compared to about $460 million in annual revenue from its legacy business lines.
Strategy is a publicly traded company, allowing retail customers with brokerage accounts to purchase its stock and gain exposure to bitcoin. In theory, its market cap should be the sum of (1) the value of its bitcoin, plus (2) some de minimis premium for the rest. Generously, this might be $66 billion. But in reality, its market cap is $101 billion, prompting commentators to suggest that “the U.S. stock market will pay $2 (or more) for $1 worth of crypto.”
Circle’s business model involves buying conventional vanilla financial assets (mostly short-dated U.S. Treasury bills) and then issuing cryptocurrency — roughly the opposite of Strategy — but it may benefit from the same premium.
2. The GENIUS Act
Over the past several months, Congress has advanced the GENIUS Act, a piece of legislation intended to govern the regulatory treatment of stablecoins. This bill passed through the Senate last week and is expected to become law in the near future.
In this theory, GENIUS will bring regulatory clarity, enabling the stablecoin ecosystem to thrive. In particular, the bill includes a prohibition on yield, which will disallow stablecoin issuers from passing on the yields they earn from holding collateral to token holders. Perhaps this increases issuers’ value.
Complicating this, however, is the likelihood that the bill will bring increased competition from banks, such as JPMorgan’s recently announced tokenized deposits. Per Stablecon founder Nik Milanović, “If I were Circle, I would be concerned about bank issuers of stablecoins.”
3. Treasury Instability
Finally, there is the macro. Market factors have pushed up Treasury yields in recent months, and if this trend continues, it could be very lucrative for stablecoin issuers. Most issuer revenue comes from yields on the collateral they hold, so when those go up, the issuers benefit.
Importantly, the biggest risk these issuers face is rates returning to zero, in which case they would lose the majority of revenue and may not be solvent for long. Perhaps a rerating of the quality of U.S. sovereign debt has increased the long-term value of this class of business.
Looking Forward
Of course, Circle’s rise could be froth, too. Circle’s market cap is now more than half that of Coinbase. For 10-K enthusiasts, this is a bit puzzling, as Coinbase has a contractual right to half of Circle’s reserve revenue, as well as other business lines.
For further reading, view the coverage of the Circle IPO.
– Aaron Brogan, founder and managing partner, Brogan Law
Q. What does the survey data say?
A. The survey reflects a clear shift in investor behavior: digital assets are no longer a side conversation. They’ve entered the core of how investors think about wealth — and they’re not waiting for permission. Nearly 9 in 10 crypto holders plan to grow their allocation this year. That’s not hype, that’s commitment. However, what stood out most was the tension: investors are clearly seeking guidance, yet they don’t always trust the advice they’re being offered. We’re seeing a generation of investors who are self-directed, well-informed, and fully engaged. They’re not rejecting the role of the advisor, but they are raising the bar. They want intelligent, transparent conversations about crypto, and they expect their advisor to keep pace with them. That’s a reality the industry has to face head-on.
Q. What does this mean for advisors?
A. It’s an opportunity for advisors to strengthen client trust by expanding their expertise. Clients aren’t just asking for access to crypto — they’re asking whether their advisor actually understands it. And if 29% of them say a lack of experience or poor communication around risk would make them walk away, that’s not a marginal issue. Advisors still play an essential role, but the model has evolved. What clients want is strategic insight and transparency. They want someone who has taken the time to understand the ecosystem and can speak fluently about risk, custody, and product structure. If an advisor can do that, they’re not just protecting client capital, they’re earning long-term trust. That’s the difference between offering a product and earning a relationship.
Q. What specific type of support are clients looking for?
A. Clients are seeking guidance that strikes a balance between opportunity and caution. The most valued support isn’t about picking tokens — it’s about managing risk, navigating regulation, and accessing secure vehicles like ETFs or trusts. Over half of the investors we spoke to say that risk oversight is one of the most important roles an advisor can play in the crypto space. That’s a huge opening. Especially for younger or sub-HNW investors, crypto is where they’re building — and they need informed guidance. Advisors who step into that role thoughtfully can help shape the next phase of wealth creation.
– Jean-Marie Mognetti, CEO, CoinShares
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 2982.19, down 0.6% (-17.53) since 4 p.m. ET on Wednesday.
Three of 20 assets are trading higher.
Leaders: BCH (+2.7%) and ETH (+0.5%).
Laggards: SUI (-4.6%) and HBAR (-3.5%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
The world's most valuable startups aren't traded on public markets. They're tucked away in private portfolios — locked behind high capital requirements, long lockups and limited access to deal flow. Historically, private markets have belonged to the elite few: endowments, family offices and a small club of well-connected institutional players.
Today's private markets remain largely gated. Traditional private equity requires minimum investments of $250,000 – $25 million, venture capital funds often demand more than $1 million minimums and accredited investor requirements shut out the majority of Americans who don't meet these wealth thresholds.
But that exclusivity is beginning to crack.
Thanks to blockchain technology, we're witnessing the early formation of a parallel financial system — one that brings transparency, liquidity and accessibility to a space that’s been notoriously opaque and illiquid. Tokenization is re-architecting private markets from the ground up, and the implications are enormous.
At its core, tokenization transforms real-world assets, such as shares in growth-stage startups or private funds, into programmable, digital tokens. These aren’t just digital wrappers. They carry embedded compliance and can be structured to provide fractional exposure to a broad range of investors without price distortions.
Imagine accessing a basket of high-growth, venture-backed companies through a single, liquid and blockchain-native asset. Investors no longer have to wait 7–10 years for a potential exit. Secondary markets and liquidity protocols now make it possible to trade positions or rebalance portfolios more dynamically and at fairer prices than ever before in private markets.
Some of these tokenized vehicles go further. They embed governance rights or performance-linked incentives. Others offer exposure to hard-to-access assets: pre-IPO unicorns, private credit or even private equity and VC funds. In many ways, this resembles the opportunities that ETFs introduced in the 1990s — except this time, it's powered by open networks and smart contracts.
And this shift isn't just about efficiency. It's about equal access. Tokenization opens the door for smaller investors, global participants and underserved geographies to allocate capital into previously gated markets. Venture capital, long the engine of modern innovation, is no longer the sole domain of Silicon Valley insiders or sovereign wealth funds.
As the infrastructure matures from compliant issuance platforms to regulated secondary markets, we're inching closer to a financial world where access to private market upside is no longer a privilege, but a programmable right. This isn't a theoretical future. It's already happening, with tokenized funds, startup equity and yield-bearing private debt instruments actively trading across decentralized and centralized platforms alike. The total secondary market transaction volume surged to record highs of over $150 billion in 2024, nearly triple the amount from just seven years ago; yet, these markets still represent only about 1% of total private market value, signaling massive room for growth.
Considering the current tokenized private real-world assets (RWA) value of ~$14 billion, compared to a total addressable market size of ~$12 trillion, there still exists a massive opportunity in bringing these assets on-chain.
Source: RWA.xyz
Source: S&P Global
Of course, this evolution brings challenges: regulatory clarity, investor protection frameworks and investor education, to name a few. But the momentum is undeniable. Private markets are too big, and the demand for access too strong, to stay siloed much longer.
The financial system of the future won’t draw sharp lines between public and private, analog and digital and developed and developing. Instead, it will be interoperable, composable and open by design.
Tokenized private assets aren’t just a new asset class. They’re a signal that the next trillion-dollar opportunity won’t be walled off from the world, but woven into a more inclusive, liquid and transparent financial web.
The gate is open. The future of private markets is on-chain.
Real-world asset (RWA) tokenization has passed its proof-of-concept phase. With over $20 billion in tokenized assets and institutional momentum from top-tier asset issuers such as Apollo, BlackRock, Hamilton Lane, KKR and VanEck, among others, on-chain finance is no longer hypothetical. But the road ahead — powered by rapid infrastructure improvements and shifting market conditions — is where the real transformation begins.
Here are the five key technological and five key market drivers shaping the next three years of tokenization:
1. Blockchain infrastructure maturity
Layer 1s and layer 2s are scaling quickly, reducing fees and improving UX. Seamless wallet usage, account abstraction and lower gas costs will make holding tokenized assets frictionless for institutions and individuals alike.
2. Smart contract evolution
Contracts are becoming safer, more composable and increasingly automated. Expect AI to assist in designing and auditing contracts that power yield, compliance and asset servicing — all with less manual oversight.
3. On-chain identity integration
Wallet-linked KYC and decentralized identity protocols will streamline onboarding without sacrificing privacy, a critical breakthrough for institutional adoption and retail accessibility.
4. Institutional-grade custody
MPC wallets, recovery protocols and regulated custody options will resolve long-standing custody concerns — making tokenized assets truly investable at scale.
5. Regulated marketplaces & exchange integration
More tokenized assets will trade on SEC-regulated ATS platforms and become available on-chain via compliant DEXs, driving liquidity and transparency across asset classes.
1. Regulatory clarity
Regulators in the U.S., EU, and APAC are advancing frameworks for tokenized securities, stablecoins and DeFi. As clarity grows, so will institutional confidence.
2. Tokenized treasuries > stablecoins
Tokenized T-bills (e.g. BUIDL, VBILL) are emerging as superior collateral and yield-bearing instruments — offering institutional-grade safety with better capital efficiency.
3. Stablecoins as global settlement layer
With $150B+ in circulation, stablecoins are evolving into programmable cash — enabling instant settlement, treasury funding and FX trades across blockchains.
4. Full asset class coverage
Public equities, private equity, bonds, credit, real estate and commodities are all heading on-chain. Tokenization is expanding from yield products to the full capital stack.
5. Institutional & emerging market acceleration
Wall Street is actively piloting tokenization infrastructure, while emerging markets are leapfrogging legacy systems by going directly to blockchain rails.
Conclusion
The next phase of RWA tokenization will be driven by scalability, composability and credibility. Institutions are no longer asking if they should tokenize — but how fast they can do it. The result will be a 24/7, globally accessible financial system — built on trustless rails, powered by programmable assets.
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 2996.59, up 0.5% (+15.68) since 4 p.m. ET on Tuesday.
Seven of 20 assets are trading higher.
Leaders: BCH (+6.0%) and SOL (+1.8%).
Laggards: APT (-2.7%) and AAVE (-1.6%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
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 2967.37, up 4.0% (+114.4) since 4 p.m. ET on Monday.
All 20 assets are trading higher.
Leaders: LINK (+8.4%) and NEAR (+8.2%).
Laggards: LTC (+1.6%) and BCH (+2.0%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
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 2789.42, down 4.4% (-127.06) since 4 p.m. ET on Friday.
None of the 20 assets are trading higher.
Leaders: BTC (-1.8%) and LTC (-1.9%).
Laggards: UNI (-11.4%) and ICP (-8.2%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
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 3035.75, up 1.3% (+38.34) since 4 p.m. ET on Thursday.
Seventeen of 20 assets are trading higher.
Leaders: AAVE (+3.5%) and HBAR (+2.4%).
Laggards: BCH (-1.5%) and NEAR (-0.5%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
In today’s Crypto for Advisors, Bryan Courchesne from DAIM provides information on tax planning for crypto trades. Although we are half a year away from tax season, there are many considerations to track in order to be tax-ready.
Then, Saim Akif from Akif CPA breaks down the differences in tax treatment between crypto and equities/bonds in Ask an Expert.
As advisors focused on crypto, we’re familiar with the unique tax situations this asset class presents. For example, crypto is not subject to wash-sale rules, which allows for more efficient tax-loss harvesting. It also enables direct asset swaps, such as converting bitcoin (BTC) to ether (ETH) or ETH to Solana (SOL), without first selling into cash. These are just a couple of features that set crypto apart from traditional investments.
However, perhaps the most important thing for investors to consider is the sheer number of platforms they may use and how challenging it can be to track everything at tax time.
Tracking your crypto taxes isn’t just a year-end chore; it’s a year-round challenge, especially if you’re active on multiple centralized exchanges (CEXs) or decentralized platforms (DEXs). Every trade, swap, airdrop, staking reward, or bridging event can be a taxable event.
Centralized Exchange Trading
When using CEXs like Coinbase, Binance, or Kraken, you may receive year-end tax summaries, but those are often incomplete or inconsistent across platforms. One major challenge is tracking your cost basis across exchanges.
For example, if you buy Amazon stock in a Fidelity account and transfer it to Schwab, your cost basis transfers seamlessly and updates with each new trade. At tax time, Schwab can generate an accurate 1099 showing your gains and losses.
But in crypto, if you transfer assets from Kraken to Coinbase, your cost basis doesn’t automatically transfer with them. If you’re moving assets across multiple platforms, you’ll need to manually track every transaction, or you’ll face a major headache when filing taxes.
Decentralized Exchange Trading
Things get even more complicated when using DEXs. Apps like Coinbase Wallet (not to be confused with the Coinbase exchange) or Phantom connect you to decentralized trading platforms like Uniswap or Jupiter. These DEXs don’t issue tax forms or track your cost basis, so it’s entirely up to you to log and reconcile every transaction.
Miss a single token swap or forget to record the fair market value of a liquidity pool withdrawal, and your tax report could be inaccurate. That could trigger IRS scrutiny or lead to missed deductions. While some apps can calculate gains and losses from a single wallet address, they often struggle when assets are transferred between addresses, making them less useful for active users.
And here’s the kicker: if you’re actively trading on DEXs, chances are you’re not even making money. But even losses must be reported correctly to qualify for a deduction. If not, you risk losing the write-off or, worse, facing an audit.
Unless you’re a full-time crypto trader, the time and effort required to track every transaction isn’t just stressful, it can cost you real money.
What steps can I take to make sure I'm tax ready?
There are, however, several ways to prepare properly for crypto taxes:
As adoption increases, tax reporting will undoubtedly evolve — in the meantime keeping track of your trade activity is important to be ready for tax season.
Q. Why are advisors watching crypto closely?
A.Institutional crypto inflows have surged to $35 billion. While crypto is more volatile than traditional assets, major cryptocurrencies like bitcoin, have historically outperformed other traditional asset classes since 2012.
Q. How is crypto being treated differently from equities/bonds from a tax side?
A. Crypto differs fundamentally from equities and bonds. Advisors must track each wallet separately for cost basis (starting Jan 2025). Unlike traditional 1099s, clients often get little to no reporting support from exchanges, especially for self-custodied assets.
Q. Do you have any special insights for CPAs and tax advisors?
A. Compliance isn’t optional anymore. Starting with 2025 returns:
Smart tax professionals are combining tax reporting, audit defence, and DeFi accounting into premium advisory services.
– Saim Akif, founder, Akif CPA
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 3001.7, up 0.8% (+23.65) since 4 p.m. ET on Wednesday.
Seventeen of 20 assets are trading higher.
Leaders: UNI (+4.3%) and POL (+2.8%).
Laggards: AVAX (-1.9%) and DOT (-0.9%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
In the search for stable, scalable yield on-chain, real world assets (RWAs) have become a cornerstone of digital asset strategies. Tokenized treasuries and private credit brought off-chain yield on-chain, delivering much-needed stability and quickly emerging as one of the strongest-performing segments in crypto.
Top crypto categories by market cap
https://www.coingecko.com/en/categories#key-stats
However, much of this early RWA activity has simply mirrored traditional finance. The next stage of evolution demands more. Capital moves quickly, and investors expect more from their assets. They’re looking for returns that aren’t tied to cycles, access that doesn’t depend on intermediaries and assets that are composable across the DeFi ecosystem.
One emerging example is tokenized reinsurance, bringing some of the world’s largest and illiquid industries into the fund flows of DeFi.
Reinsurance is a form of structured finance that helps insurers manage large or unexpected losses. For most investors, it’s been inaccessible — held back by outdated infrastructure, opaque processes and high barriers to entry. Despite that, it’s a $784B+ global market that generates returns from both underwriting profits and investment income, with capital expected to grow to $2T over the next decade.
Let’s put it into perspective:
The opportunity is becoming accessible through new infrastructure built on-chain — rebuilding access to reinsurance from the ground up and opening the door to a broader class of investors. Pair a yield-bearing stablecoin like Ethena’s sUSDe with a tokenized pool of reinsurance risk, and you’ve got a structured product that earns underwriting yield in all markets, captures collateral yield in bull cycles and plugs into the rest of DeFi.
This shift is happening alongside a broader transformation in how capital moves in the market. Whereas legacy reinsurance markets rely on private deals and siloed systems, Web3 makes it easier to move capital faster, and with more transparency, so capital markets can flow more easily in and out of such positions depending on reinsurance performance. Composability opens the door to new integrations across DeFi, and together these features allow for a more accessible model.
The introduction of tokenized reinsurance signals how far RWAs have progressed. The focus is shifting from simply replicating traditional finance on-chain to establishing new, crypto-native forms of structured yield. More broadly, RWAs are beginning to unlock financial structures that would be difficult, if not impossible, to implement in traditional markets. For capital allocators, on-chain reinsurance offers broader access, greater transparency and potentially more resilient returns.
As structured finance continues to intersect with Web3 infrastructure, reinsurance offers a preview of where the next wave of RWA innovation is headed: real-world markets reimagined for speed, scale and open participation. The larger opportunity lies in connecting decentralized and traditional systems in a way that is scalable, transparent and durable.
CoinDesk's inaugural Top 50 Women in Web3 & AI list, launched in June 2025, celebrates innovators who are reshaping technology and finance. But the real story isn't about women succeeding in isolation — it's about how their achievements demonstrate the power of unified innovation across gender lines. It’s terrific to see these women being recognized for their considerable achievements. Moving forward, we must acknowledge that both women and men can and should be on a single list.
The selection process was rigorous: over 300 nominees evaluated by a diverse panel of judges, ultimately choosing 50 pioneers who embody the spirit of creation. These women aren't just participants in the tech revolution — they're leading it.
Consider Nkiru Uwaje, Co-Founder and COO of MANSA, who describes herself as a builder and advocate. Since launching MANSA in August 2024, her team has used stablecoins to enable instant funding for underserved African clients, raising $10 million including a $3 million pre-seed round led by Tether.
The results speak volumes: $92 million in payments facilitated with $178 million in on-chain volume. Uwaje's work demonstrates how blockchain technology can democratize financial access while building sustainable businesses.
Yasmina Kazitani, Co-President of the Blockchain Game Alliance and co-founder of Numidia Valley Africa Future Club, exemplifies ecosystem building on a global scale. Her partnerships, including collaborations with Algeria's Ministry of Strategy and Lamina1, are positioning Africa as a rising force in Web3 gaming. Kazitani's approach transcends gender — she mentors developers across all demographics, understanding that diverse teams create stronger products.
Daniela Amodei, Co-Founder and President of Anthropic, represents principled leadership in AI development. After leaving OpenAI over safety concerns, she co-founded Anthropic and championed “Constitutional AI” methodologies, achieving a remarkable $61.5 billion valuation. Her commitment to “igniting a race to the top on safety” secured major partnerships with Amazon ($8 billion) and the U.K. government, demonstrating how values-driven innovation can unite industry and public sector interests around responsible development.
These leaders operate at the intersection of AI and blockchain — two technologies that complement each other perfectly. AI excels at pattern recognition and prediction; blockchain provides verification and immutable record-keeping. In fintech, AI-driven analytics predict market trends while blockchain ensures transparent transactions. In gaming, blockchain creates decentralized ecosystems while AI enhances user experiences.
This convergence and these women are reshaping industries. In medicine, AI diagnostics pair with blockchain-secured patient data. In finance, tokenized assets democratize investment opportunities.
Gracy Chen, CEO of Bitget, leads the Blockchain4Her initiative while advocating for gender equity in global forums. Her work shows that supporting women strengthens entire ecosystems, not just female participation.
Here's where the conversation gets crucial. While celebrating these achievements is vital, true progress requires moving beyond separate recognition toward unified innovation. The Proof of Talk 2025 event, which admirably hosted the list's announcement, missed an opportunity by not featuring these women in integrated panels alongside their male counterparts. This approach treats women's contributions as separate rather than essential to the whole.
The challenge isn't unique to tech events. Regulators often impose barriers that slow innovation, particularly in crypto and fintech. Academia struggles to keep pace with Web3 developments. The public sector can't match private sector agility. Yet creators persist, working to align all stakeholders toward common goals.
The most successful innovations happen when individuals with diverse perspectives collaborate as equals. Men and women working together leverage different strengths, allowing technologies to thrive together: AI's probabilistic reasoning with blockchain's cryptographic certainty, technical innovation with regulatory wisdom and startup agility with institutional stability.
The women on this list understand this instinctively. Amodei's principled departure from OpenAI and subsequent creation of Anthropic shows how values-driven leadership can elevate entire industries. Uwaje's financial innovations and Kazitani's ecosystem building work alongside countless male innovators to create systems that empower everyone. As Proverbs 31:25-26 observes, “Strength and dignity are her clothing, and she smiles at the future” — these leaders embody that forward-looking confidence, building tomorrow's infrastructure with both technical excellence and moral clarity. Their success stories prove that inclusion isn't about quotas or separate tracks — it's about recognizing that diverse teams solve problems better.
To truly harness this potential, we need systemic changes. Events should feature mixed panels showcasing shared achievements. Investors should fund diverse teams not because it's politically correct, but because it's strategically smart. Regulators should engage multiple perspectives to create balanced frameworks. Academia should mentor all talent while updating curricula to reflect Web3 realities.
The Top 50 women aren't footnotes in tech history — they are co-authors of our digital future. Nkiru Uwaje's financial innovations, Yasmina Kazitani's ecosystem building and Daniela Amodei's principled AI leadership and countless others’ work alongside male innovators create systems that empower and inspire.
The strength lies not in celebrating women separately, but in recognizing their integral role in unified innovation. By building together — leveraging every perspective, skill set and insight — we create technology that truly serves everyone. That's not just good business; it's the only way forward in an increasingly complex world.
The future belongs to those who build it together.
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 2988.69, down 1.4% (-41.38) since 4 p.m. ET on Tuesday.
None of the 20 assets are trading higher.
Leaders: BTC (-0.2%) and LTC (-0.4%).
Laggards: SUI (-4.4%) and AAVE (-3.9%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
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 3054.04, down 4.1% (-129.21) since 4 p.m. ET on Monday.
None of the 20 assets are trading higher.
Leaders: BCH (-1.2%) and BTC (-2.7%).
Laggards: ICP (-7.6%) and NEAR (-7.2%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
CoinDesk Indices and decentralized finance (DeFi) specialist Sentora are introducing a benchmark tied to overnight stablecoin lending rates, bringing on-chain markets one step closer to mainstream money markets.
The CoinDesk Overnight Rates (CDOR) are designed to transform real-time borrowing activity into standardized rates, giving trading firms, exchanges, and protocol treasuries a way to hedge interest-rate exposure or fix funding costs over time, the companies said in a Tuesday press release.
The benchmarks will initially draw from Aave lending pools for USDT and USDC, the two most widely used stablecoins. They are calculated and published daily, based on the platform’s variable borrow rates.
Stablecoins, a $250 billion class of digital tokens pegged to traditional currencies like the U.S. dollar, are key pieces of infrastructure underpinning the crypto economy. They are a popular vehicle for trading and on-chain transactions and are increasingly used for cross-border payments and foreign exchange.
Read more: Stablecoins Could Bring 'ChatGPT' Moment to Blockchain Adoption, Hit $3.7T by 2030: Citi
As stablecoin adoption accelerates with more institutions and businesses getting involved, so the demand for sophisticated tools that mirror mainstream financial markets is growing.
“Stablecoins are expected to grow into the trillions, but there is no institutional-grade money market for trading and hedging term rates,” said Andy Baehr, the head of product and research at CoinDesk indices “CDOR rates provide a cornerstone element for the stablecoin rates markets, using the same conventions as traditional finance benchmarks, which support the largest derivatives markets in the world.”
Futures contracts that settle against overnight rates are also in the works, with Galaxy, FalconX, Flowdesk and Tyr Capital set to act as market makers, the press release said.
“CDOR rates enable the creation of a broad range of financial derivatives that are currently missing in the crypto financial ecosystem,” said Ed Hindi, chief investment officer at Tyr Capital. “This addition alongside a clearer regulatory environment should exponentially increase the interaction of institutional players with DeFi.”
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 3122.1, up 3.6% (+109.09) since 4 p.m. ET on Friday.
All 20 assets are trading higher.
Leaders: SOL (+7.3%) and XRP (+6.1%).
Laggards: POL (+0.8%) and AAVE (+1.2%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
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 3027.78, down 4.4% (-137.85) since 4 p.m. ET on Thursday.
None of the 20 assets are trading higher.
Leaders: BTC (-2.2%) and XRP (-2.9%).
Laggards: SUI (-8.2%) and NEAR (-7.8%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
