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Crypto

Kraken launches Solana DEX trading on main app

U.S. cryptocurrency exchange Kraken has launched an on-chain DEX trading feature on its main mobile app. Users can use the feature to access thousands of tokens in the Solana ecosystem, The Block reported. Kraken said integrating DEX functions directly into its core app lets users access early-stage token markets without leaving a familiar environment or managing separate tools. The service is based on Privy’s embedded wallet technology and major Solana DEX protocols.

Crypto

JPMorgan says bitcoin mining economics worsen as price stays below production cost for five straight months

Bitcoin mining economics have worsened so far this year, with bitcoin prices staying below estimated production costs for five consecutive months, increasing pressure on miners, a report cited by The Block said. JPMorgan analysts led by Nikolaos Panigirtzoglou said bitcoin hashrate and mining difficulty are reacting more sensitively to price swings, with more miners operating near break-even. JPMorgan estimates production costs at about $78,000 versus a bitcoin price of around $62,500.

Crypto

Fidelity launches money market fund aimed at stablecoin issuers

Fidelity Investments has launched a new government money market fund aimed at institutional investors, particularly stablecoin issuers. The Fidelity Reserves Digital Fund (FYMXX) launched on June 15, a report said. It invests only in reserve assets permitted under the U.S. stablecoin regulatory law known as the GENIUS Act, including U.S. Treasuries, cash and overnight repurchase agreements. The minimum initial investment is $1 million and the management fee is 0.25 percent.