Brian Armstrong, CEO of Coinbase, the third-largest crypto exchange in the world, published the exchange’s token listing process on Saturday. In an X post, Armstrong noted that the move aims to bolster transparency of Coinbase’s listing process. He wrote:

“…listings are free and merit-based. Every asset is evaluated against the same standards.”

How tokens are listed on Coinbase

According to the blog post titled ‘A Guide to the Digital Asset Listing Process at Coinbase,’ there are five key steps:

The first step involves submitting an application. Project developers have to fill an online questionnaire that asks for key information, from whitepaper and tokenomics to team background and source code.

Based on the submission, Coinbase assesses business factors, including market demand, community traction, and the technical requirements of integrating it with the exchange.

The application then goes through a thorough review process by the legal, compliance, and technical security team of Coinbase. From the legal perspective, Coinbase mainly analyses whether a token will potentially be considered a security.

The exchange also investigates the token’s on-chain activity and token distribution to ward off consumer safety risks and financial crime.

Additionally, the exchange also runs a security check for technical vulnerabilities by reviewing the contract code, design, and operational risks. In case of new blockchains, Coinbase evaluates aspects like technical design, consensus mechanism, network resilience, and governance model.

The exchange keeps the token issuers apprised of the review process via emails or phone calls. Once the token is approved by the Core review teams, it starts trading on Coinbase once the exchange completes technical integration.

The blog post notes:

“Our [listing] process is thorough because our standards are designed to protect customers, support healthy markets, and give projects the strongest possible foundation for long-term success.”

Token listing timeline and rollout

In general, Coinbase takes about a week to conduct due-diligence of a token. Once the token is approved, the exchange takes around two weeks for the technical integration to enable trading.

The post noted that in general, the exchange takes less than 30 days from review to list a token. However, the timeline can be significantly shorter or longer, based on factors such as the token’s complexity, whether its network is supported, the responsiveness of the project team, and the time it takes to complete the technical requirements for trading and custody.

Furthermore, listing priority and timeline also depends on Coinbase’s assessment of the token’s demand, traction among holders, community sentiment, and track-record of the team.

Coinbase also ensures that after a token is approved for listing, it is rolled out in a phased manner. First, Coinbase allows users to only deposit tokens to build liquidity.

Then, limit orders are collected for at least 10 minutes to determine an indicative opening price for the token. The auction concludes either with a matching trade or with an opening quote in case of no match.

This is followed by trading state, where the token can start with limit only orders or full trading.

Common hurdles and reasons for token listing delay

There are three major issues that contribute towards the delay of a token’s listing.

Firstly, the regulatory risk profile of a project increases if its public statements do not clearly state the token’s purpose, governance rights, and real-world usage. Projects that claim their token is ‘going to the moon’ without evidence to back the claim, for instance, face challenges with listing their token on Coinbase.

Secondly, from the blockchain security perspective, Coinbase evaluates the degree of centralization and single points of control to assess risk.

Lastly, projects that submit incomplete applications face delays in the review process. Failure to inform Coinbase of any major changes in the project during the review can also cause delays.

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Ripple has expanded its European footprint by joining forces with Spanish banking giant BBVA to introduce a digital asset custody service.

Announced on Sept. 9, the initiative extends Ripple’s institutional custody platform into Spain, giving BBVA the tools to store and manage cryptocurrencies and tokenized assets securely.

BBVA can scale its digital asset offering by deploying Ripple’s custody technology while staying within strict regulatory and security standards. The service positions the bank to meet rising demand from customers who want direct access to crypto without relying on third-party intermediaries.

This move comes as BBVA rolls out retail services for Bitcoin and Ethereum trading and custody in Spain. The bank’s customers can now buy, sell, and hold the two top cryptocurrencies directly through its mobile application.

BBVA said it has disclosed the new retail offering to Spain’s National Securities Market Commission (CNMV).

The bank stressed that all services are designed to comply with the EU’s new Markets in Crypto-Assets (MiCA) law, meaning customers initiate transactions themselves through the app.

MiCA compliance

Ripple’s European managing director, Cassie Craddock, said these developments reflect the market impact of MiCA among traditional European banks. With MiCA now in place, she explained, banks across the bloc feel more confident about launching digital asset services that customers have requested.

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BBVA executives echoed this sentiment, while adding that the partnership allows the bank to expand its end-to-end crypto services

Francisco Maroto, who leads BBVA’s digital asset unit, noted that Ripple’s custody system offers the operational reliability and security needed to build customer trust.

He added:

“Through this agreement we can deliver on our goal of supporting our customers to explore digital assets, backed by the strength and security of a bank like BBVA.”

This collaboration follows earlier projects between Ripple and BBVA in Turkey and Switzerland.

Notably, BBVA’s Switzerland had previously collaborated with Ripple-owned Metaco to build its digital asset operations in 2023.

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According to the latest data from BitcoinTreasuries, the total amount of Bitcoin (BTC) held by public firms recently surpassed the one million mark, underscoring the rapid pace of adoption of the digital asset worldwide.

Bitcoin Adoption Shows No Signs Of Slowing

While corporate adoption of Bitcoin is not a novel practice, the trend gained significant momentum following US President Donald Trump’s victory in the November 2024 elections. Since then, several firms have unveiled BTC corporate treasury strategies.

Michael Saylor-led Strategy – formerly MicroStrategy – continues to be the undisputed leader of the trend, having some 636,000 BTC on its balance sheet at the time of writing. However, other companies like Metaplanet, Semler Scientific, and MARA Holdings have been busy increasing their BTC exposure over the past ten months.

Commenting on the development, BitcoinTreasuries President Pete Rizzo said that despite the total amount of BTC crossing one million, multiple indicators still show that institutional adoption of the digital asset is still in its infancy.

Rizzo referred to the fact that most companies have only recently started to accumulate BTC for the long haul. As a result, a major chunk of the capital raised by such firms remains yet to be deployed for BTC purchases.

Bradley Duke, Head of Europe at Bitwise, commented on the milestone saying that the total value of BTC locked in corporate treasuries is now worth more than $111 billion. He added:

The structural imbalance between BTC supply and demand is real and getting more pronounced.

Data from BitcoinTreasuries shows that currently, more than 100 companies hold BTC on their balance sheets. However, if recent developments are to go by, the corporate adoption of digital assets does not seem to be limited to BTC.

Recently, a number of companies have announced plans to adopt Ethereum (ETH) as part of their corporate treasury strategy. While ETH does not have a hard supply cap of 21 million like BTC, it does offer multiple use-cases and the Proof-of-Stake (PoS) consensus mechanism which helps in reducing the active circulating supply of ETH.

Will Companies Pivot To ETH?

At present, BTC commands a total market cap of over $2 trillion, compared to Ethereum’s $518 billion market cap. Although there’s still a difference of almost $1.5 trillion, ETH is quickly closing in the gap.

For instance, asset manager VanEck CEO, Jan van Eck, recently called ETH the “Wall Street token,” saying that Ethereum’s role in facilitating stablecoin transactions will likely help it give strong competition to BTC.

Recent exchange-traded funds (ETF) data also supports the quiet institutional rotation from BTC to ETH, as ETH ETFs saw almost $4 billion in inflows during August 2025. At press time, BTC trades at $109,403, down 2.2% in the past 24 hours.

Featured image from Unsplash.com, chart from and TradingView.com

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The world’s number-one crypto is looking more like a mature asset class every day as Bitcoin volatility continues to drop (yes, even as it blasts past all-time highs and promptly retraces its steps).

Bitcoin volatility has reached a five-year low

Bitcoin has long been regarded as one of the most volatile financial assets; its turbulent price fluctuations over the years have deterred many investors. But what if I told you that Bitcoin is now less volatile than a blue-chip tech stock?

According to ecoinometrics, Bitcoin’s 30-day realized volatility is now at its lowest point in nearly five years, and it’s a trend that has persisted even through Bitcoin’s headline-making rallies and corrections over the last five years:

“Exactly what you expect from a maturing asset.”

Since 2022, Bitcoin has often been less volatile than some of Wall Street’s biggest names, including mega-cap stocks like Nvidia. During the sharp tech sector swings of 2023 and 2024, Nvidia’s price was more unpredictable than Bitcoin, an asset infamous for its hair-raising moves.

Even during this current Bitcoin bull run, the price swings have remained notably tamer than previous cycles. Macro analyst Lyn Alden recently told CryptoSlate she believes that Bitcoin’s cycles are changing.

We should expect this one to be longer and “less extreme” than previous runs, with strong moves upward followed by periods of consolidation, “rather than going to the moon and collapsing.”

All the signs of asset class maturity

Bitcoin volatility declining is just one marker of its growing maturity. The launch of spot Bitcoin ETFs in the U.S. in early 2024 was a landmark event, opening up the asset to the mainstream audience.

Major asset managers like BlackRock and Fidelity offer direct Bitcoin exposure to retail and institutional investors through regulated exchange-traded products. This has introduced broader ownership and liquidity, dampening large price swings and integrating Bitcoin more deeply into traditional markets.

Moreover, recent regulatory changes now allow Americans to include Bitcoin in their 401k retirement accounts. As diversified portfolios absorb BTC allocations, Bitcoin volatility further subsides.

Pension funds, endowments, and insurance companies have begun allocating to Bitcoin as part of their alternative asset strategies. This increases trading by sophisticated investors and reduces the impact of short-term speculative flows.

Strong-willed kids become adults who change the world

Increasingly, Bitcoin’s price shows a higher correlation with broader equity markets during risk-on and risk-off periods, another sign of integration and maturity. While you can argue whether this is what we intended for Bitcoin, it does reflect mainstream market adoption. And hey, strong-willed kids become adults who change the world, as Bitcoin is undoubtedly doing.

For everyday investors and institutions alike, lower Bitcoin volatility translates to less risk and a smoother investment profile.

It’s also a sign that Bitcoin is outgrowing its adolescent phase of wild speculative swings and turbulence, and settling into its role as a legitimate member of society and staple of diversified portfolios. It’s time to admit, our baby is fully grown.

Ministry of Digital Assets Treasury (that) Companies considered high beta play on Friday were sold sharply on Friday as they showed signs of fatigue at the August crypto rallies.

strategy (MSTR) It fell another 3% on Friday, down 20% since its July high, and 33% from its history high in November 2024. The MSTR/IBIT ratio fell to 5.43, the lowest since March, and Signaling continued to slow performance against BlackRock’s iShares Bitcoin Trust (go) And then he returned to the level he was last seen at the beginning of the year.

Other Bitcoin Treasury Ministry also fell along with Metaplanet (3350) 9% decline and Nakamoto (turn) After the merger with KindlyMD was completed, 12% off formed a new Bitcoin Treasury entity.

Kulr Technology, breaking from trends (kulr) It won over 5% after reporting its second-quarter revenue growth rate of 63% year-on-year, driven by the Bitcoin First Balance Sheet Strategy.

Companies with high ETH portfolios suffered sharp losses.

Early in the session, two of the most well-known Ethereum strategy companies, Bitmine Immersion Technologies and Sharplink Gaming, reduced by 7% and 14%, respectively.

The Solana focused companies were also inevitable. Upexi (upxi) Over 9% during Defi Development (DFDV) It was 5% lower.

BTC, ETH, SOL RALLY COOLS

This move coincided with Bitcoin

It extended the reversal from Thursday’s short-lived spike to $124,000, sliding it to a new all-time high of $124,000. ether (eth) He fell after challenging a record high of over $4,800.

DATS pursues a strategy of raising funds by selling stocks and debts to accumulate cryptocurrency, a playbook pioneered by Michael Saylor’s strategy. They are considered beta play at crypto prices, and rises even further when the underlying assets gather, but suffers from a major drawdown as the market cools.

Most crypto stocks traded low during the session. Bitcoin Minor Riot Platform and Digital Asset Conglomerate Galaxy (glxy) It’s about 8% lower. Coinbase (coin) A modest 1.6% decrease during the circle (CRCL) We won 3.5% after successfully completing the secondary share offering.

Read more: Bitcoin Rally inflation in the US, policy whipping: Crypto Daybook Americas

Michael Saylor, the co-founder and executive chairman of the Bitcoin-stacking firm Strategy, has taken to his official X account to spread the word about the US government finally recognising Bitcoin as a treasury asset.

Saylor reposted a Bitcoin statement made by the US Treasury secretary, adding his comment to that message. That US Treasury secretary’s message has triggered a wide and contradictory reaction in the BTC community.

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Saylor happy about Bitcoin’s recognition

Michael Saylor shared his take on the announcement made by the US Treasury Secretary, Scott Bessent, that the US government is finally acknowledging Bitcoin as a reserve asset and will begin to create the Strategic Bitcoin Reserve, which the US president established in March when he signed the executive order related to that.

Bessent once again confirmed that the US Treasury intends to find budget-neutral ways to accumulate more Bitcoin to expand the reserve, which is going to start from the 200,000 BTC already held by the US government.

He reminded the community about Trump’s promise to turn the United States into the “Bitcoin superpower of the world.”

Saylor commented on that tweet, summarizing it in a single line: “The US is now recognizing Bitcoin as a Treasury Reserve Asset.”

However, previously, Besset told CNBC that the US government was not planning to actually buy any new Bitcoin.

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Satoshi ally Back comments on BTC decision

The cypherpunk legend Adam Back, whose invention, Hashcash, was mentioned in the Bitcoin whitepaper and served as a basis for the Proof-of-Work system, commented on both statements made by the Treasury secretary.

First, he called the phrase about the US government not buying any more Bitcoin a mis-speak. Then he just thanked them for “cheap Sats”, stating that perhaps the statement about “budget-neutral ways to buy Bitcoin” was a way to justify overspending: “ike “it’s ok it’s budget neutral the money we spent, we saved elsewhere”. otherwise you get people griping about how many hospitals it could’ve built etc.”

However, some believed the second statement was truer than the first one. Among them is Anthony Pompliano, the CEO of the ProCap Financial Bitcoin treasury company.

Bitcoin slipped 0.11% in the past 24 hours to $116,702, according to CoinDesk Data, but remains up 25% year to date, second only to gold’s 29% gain among major asset classes, according to data shared by financial strategist Charlie Bilello on X.

2025 Performance so far

As of Aug. 8, bitcoin’s 25% year-to-date return ranked behind only gold’s 29.3% advance. Other major asset classes have posted more modest gains, with emerging market stocks (VWO) up 15.6%, the Nasdaq 100 (QQQ) up 12.7% and U.S. large caps (SPY) rising 9.4%. Meanwhile, U.S. mid caps (MDY) and small caps (IWM) 0.2% have only gained 0.8%, respectively. This marks the first time gold and bitcoin have occupied the top two positions in Bilello’s annual asset class rankings since records began.

2011–2025 Cumulative returns

Over the longer term, bitcoin has delivered an extraordinary 38,897,420% total return since 2011 — a figure that dwarfs all other asset classes in the dataset. Gold’s 126% cumulative return over the same period puts it in the middle of the pack, trailing equity benchmarks like the Nasdaq 100 (1101%) and U.S. large caps (559%), as well as mid caps (316%), small caps (244%) and emerging market stocks (57%). Based on Bilello’s figures, bitcoin’s total return has exceeded gold’s by more than 308,000 times over the past 14 years.

2011–2025 Annualized returns

When measured on an annualized basis, bitcoin’s dominance is equally clear. The flagship cryptocurrency has delivered a 141.7% average annual gain since 2011, compared with 5.7% for gold, 18.6% for the Nasdaq 100, 13.8% for U.S. large caps and 4.4% to 16.4% for other major equity and real estate indexes. Gold’s long-term stability has made it a valuable hedge in certain market cycles, but its pace of appreciation has been far slower than bitcoin’s exponential climb.

Gold vs. bitcoin, according to Peter Brandt

Renowned trader Peter Brandt weighed in on Aug. 8, contrasting gold’s merits as a store of value with bitcoin’s potential to surpass all fiat alternatives. “Some think gold is a great store of value — and it is. But the ultimate store of value will prove to be bitcoin,” he said on X, sharing a long-term chart of the U.S. dollar’s purchasing power. His comments echo the growing narrative that bitcoin’s scarcity and decentralization make it uniquely positioned to outperform traditional hedges over time.

Technical Analysis Highlights

• According to CoinDesk Research’s technical analysis data model, between Aug. 8 at 21:00 UTC and Aug. 9 at 20:00 UTC, bitcoin traded within a $1,534.42 range (1.31%) from $116,352.52 to $117,886.44.
• Price opened near $116,900 and moved sideways before surging during Asian hours, climbing from $116,440 to $117,886 between 05:00 UTC and 10:00 UTC on Aug. 9, with 24-hour trading volume exceeding 9,000 BTC during these intervals.
• Strong buying emerged near $116,420 at 05:00 UTC, while selling pressure intensified around the $117,886 high.
• Bitcoin closed the session at $116,517, down 0.32% from the open, with defined support at $116,400–$116,500 and resistance at $117,400–$117,900
• In the final hour of the analysis period (Aug. 9, 19:06–20:05 UTC), bitcoin remained under downward pressure within a $195.11 band, sliding from $116,629.40 to $116,519.29 (-0.09%).
• The largest final-hour volume spike occurred at 19:27 UTC, when 296.43 BTC changed hands as price tested $116,547 support.
• Recovery attempts were repeatedly capped near $116,600–$116,713, in line with earlier intraday resistance.

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.

Billionaire investor Ken Griffin is placing a major bet on a company that’s far outperformed expectations this year.

According to a filing with the U.S. Securities and Exchange Commission (SEC), Griffin’s hedge fund Citadel has acquired 3,824,329 shares of NioCorp Developments Ltd (NB), a company advancing critical minerals development in the United States.

NioCorp’s flagship project in Nebraska aims to produce rare earth minerals like niobium, scandium and titanium.

Citadel’s holdings of NB represent 5.4% of its total portfolio, and 5.2% of the total outstanding shares.

NB, with a market cap of just $229 million, is trading at $3.16 after opening the year at $1.41 in January – a gain of 124% so far.

Citadel’s positioning in the company appears to underscore a focus on the energy sector, given its recent win on Chevron’s $53 billion takeover of competitor Hess Corporation.

Citadel Advisors, Adage Capital and HBK Investments were part of a group of investors betting on the acquisition as part of a merger arbitrage strategy, which involves betting on the outcome of a merger or acquisition, typically by taking long and/or short positions in the stocks of the companies involved.

Citadel and HBK each had the equivalent of $1 billion in shares, according to the firms’ latest filings, says Bloomberg.

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Clients at the brokerage giant Charles Schwab believe the next three months will be bullish for the stock market.

In the firm’s Q3 2025 Trader Client Sentiment Report, Charles Schwab reveals that 57% of its clients are bullish in the stock market for this quarter, with only 29% having a bearish bias.

The survey also shows that 53% of respondents plan to invest in individual stocks this quarter, as 42% say they intend to add more funds to their portfolio. Only 19% plan to take money out of their investment account.

As Charles Schwab traders express their market sentiment over the next few months, 62% say they are most bullish on artificial intelligence (AI) stocks, 56% say growth stocks are their top pick and 55% say they see the most upside potential in domestic stocks.

Meanwhile, 55% say they are bullish on the equities market in general.

The survey results come as banking giant Goldman Sachs unveils a trade it says could spark an investor stampede driven by fear of missing out (FOMO). In a new podcast episode, Kunal Shah, the co-CEO of Goldman Sachs International, says that a Fed rate cut will negatively impact the value of the US dollar and trigger rallies in European stocks, fueled by cheap dollars and a rising euro.

4:50 “I think from here. One of the key drivers beyond the long-term capital allocation theme is really just relative monetary policy. We’re at the point now where the ECB (European Central Bank) may be done [cutting rates], at least for now. But there is pressure on the Fed to cut. 

Now you need to figure out when they are getting a green light from a data perspective, but there is definitely room there for further easing in the front end of the US curve, and that can catalyze another move higher in the euro.

And when the euro is rallying, it is the ultimate FOMO trade that I think people now are going to have to re-risk into.”

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August 1st, 2025 – New York, United States

Plume, the real world asset (RWA) chain, welcomed the inclusion of its consultation and insights in the President’s Working Group on Digital Asset Markets report.

Plume was highlighted for its contribution of market insights on tokenization of real world assets.

Last week, Plume released a set of forward-looking policy recommendations calling for the development of capital markets policy. In the memo, the team called for capital markets regulation that matches the innovation unlocked by stablecoins. The Working Group’s newly released national roadmap affirms that vision, highlighting the role of permissionless infrastructure, tokenized financial products, and updated regulatory frameworks in advancing U.S. leadership in digital finance.

“The Report is a full-throated endorsement of permissionless blockchains and decentralized finance at the heart of a future onchain financial system. Plume has worked to sate global demand for US dollar assets through offshore work arounds. This Report is the blueprint for the onshoring of onchain capital markets under a regulatory framework that addresses real risks but also realizes new opportunities,” said Salman Bananei, General Counsel at Plume. 

The Report aligns with Plume’s core belief that open, permissionless blockchains and DeFi can strengthen markets when paired with responsible oversight. This reinforces the value of decentralized infrastructure under thoughtful regulation.

It also echoes Plume’s call for regulatory clarity, supporting innovation sandboxes, safe harbors, and updated rules around custody, registration, and capital treatment, especially for assets on public blockchains.

The Report affirms that tokenized assets are the future of finance. The team at Plume have advocated for policies that enable safe tokenized yield and other onchain financial products as a part of robust onchain capital markets.

On stablecoins, the Report aligns with Plume’s position that they can modernize U.S. payments and that the government should support the “development and growth of lawful and legitimate dollar-backed stablecoins worldwide.”

Finally, the Report supports tax reforms long advocated by Plume, including treating stablecoins as money and creating a digital asset-specific tax category to support compliant onchain activity.

Plume As a Real World Asset Market Leader

At over 160,000 holders at time of writing, Plume accounts for 50% of all RWA holders across Web3. With over $300 million in total value locked (TVL) and growing, Plume is well placed to support policy as governments across the world catch up to the reality that digital assets are a foundational part of future financial structures. 

The alignment between Plume’s proposals and federal recommendations underscores the company’s leadership in shaping policy at the intersection of blockchain and traditional finance. 

About Plume

Plume is the first full-stack blockchain and ecosystem dedicated to real-world asset finance. With 200+ projects building on its EVM-compatible infrastructure, Plume makes it simple to tokenize and integrate real-world assets into DeFi applications, enabling anyone to interact with global financial markets through intuitive, on-chain tools.

Contact

Leila Stein
press@plumenetwork.xyz