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Will Canny

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Will Canny is an experienced market reporter with a demonstrated history of working in the financial services industry. He's now covering the crypto beat as a finance reporter at CoinDesk. He owns more than $1,000 of SOL.

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Singapore (Unsplash)
Finance
Singapore
Crypto Financial Services Firm Eqonex Files for Voluntary Debt Restructuring in Singapore
The company said it has been in talks with existing lender Bifinity and other potential investors to raise capital, but has not been successful.
Singapore (Unsplash)
By Will Canny
Nov 22, 2022 at 10:05 a.m. UTC
Nov 22, 2022
SingaporeEqonex GroupDebt
Grayscale CEO Michael Sonnenshein (CoinDesk)
Markets
Grayscale
Bernstein Says Grayscale Bitcoin Trust Is Protected From Fallout at Sibling Company Genesis Global
If Genesis is forced to file for bankruptcy, creditors will have no claim on GBTC assets, the report said.
Grayscale CEO Michael Sonnenshein (CoinDesk)
By Will Canny
Nov 21, 2022 at 4:30 p.m. UTC
Nov 21, 2022
GrayscaleGrayscale Bitcoin TrustGenesisAnalysis
Bank of America has downgraded its rating on crypto exchange Coinbase's stock to neutral from buy. (Unsplash)
Finance
Coinbase
Bank of America Downgrades Crypto Exchange Coinbase to Neutral in FTX Aftermath
The bank had rated the shares at buy. It cut its price target to $50 from $77.
Bank of America has downgraded its rating on crypto exchange Coinbase's stock to neutral from buy. (Unsplash)
By Will Canny
Nov 18, 2022 at 2:08 p.m. UTC
Nov 18, 2022
CoinbaseAnalyst RatingsBank of AmericaFTXCrypto Exchange
(Shutterstock)
Finance
Cbdcs
BofA: Don’t Tarnish Blockchain Technology With Speculative Crypto Trading
The development of applications leveraging distributed ledger and blockchain technology continues to advance, the bank's report said.
(Shutterstock)
By Will Canny
Nov 18, 2022 at 12:34 p.m. UTC
Nov 18, 2022
CBDCsAnalysisBlockchain Adoption
Merkle trees provide proof of reserves, but that may not be enough, Bank of America said. (Pixabay)
Tech
Technology
Bank of America Says Crypto Exchanges' Proof of Reserves Have Too Many Shortcomings
The cryptocurrency industry also needs a clear delineation between trading platforms and market makers, the bank said.
Merkle trees provide proof of reserves, but that may not be enough, Bank of America said. (Pixabay)
By Will Canny
Nov 18, 2022 at 10:44 a.m. UTC
Nov 18, 2022
TechnologyProof-of-ReservesAnalysis
Stablecoin flows are a signal for the wider crypto market. (Shutterstock)
Markets
Stablecoins
JPMorgan: The Shrinking Stablecoin Market Is Another Sign of Investors’ Exodus From Crypto
It’s difficult to see a sustained recovery in crypto prices without stablecoin outflows stopping, the report said.
Stablecoin flows are a signal for the wider crypto market. (Shutterstock)
By Will Canny
Nov 17, 2022 at 11:56 a.m. UTC
Nov 17, 2022
Stablecoinsmarket analysisMarket CapitalizationAnalysis
FTX's collapse could extend the crypto winter until the end of next year. (Timothy Eberly/Unsplash)
Markets
Ftx
Coinbase: FTX’s Collapse Will Likely Lead to an Extended Crypto Winter
Poor liquidity in cryptocurrency markets could last until at least the end of the year and the crypto winter until end-2023, the exchange said.
FTX's collapse could extend the crypto winter until the end of next year. (Timothy Eberly/Unsplash)
By Will Canny
Nov 16, 2022 at 9:21 a.m. UTC
Nov 16, 2022
FTXCrypto WinterAnalysis
Former FTX CEO Sam Bankman-Fried (Jesse Hamilton/CoinDesk)
Markets
Bernstein
Bernstein: The Collapse of Crypto Exchange FTX More Like Enron Than Lehman
The broker sees a significant liquidity impact on the crypto market in coming weeks, which will hurt the smaller tokens.
Former FTX CEO Sam Bankman-Fried (Jesse Hamilton/CoinDesk)
By Will Canny
Nov 15, 2022 at 11:09 a.m. UTC
Nov 15, 2022
BernsteinFTXFtx collapse
AltLayer aims to offer roll-ups-as-a-service for Web3. (Unsplash modified by CoinDesk)
Finance
Layer2 scaling solution
Blockchain Company AltLayer Appoints Amrit Kumar as COO
AltLayer is a layer 2 scalability product built on the Ethereum blockchain.
AltLayer aims to offer roll-ups-as-a-service for Web3. (Unsplash modified by CoinDesk)
By Will Canny
Nov 15, 2022 at 9:00 a.m. UTC
Nov 15, 2022
Layer2 scaling solutionlayer 2
PowerTrade is working with Copper to offer custody services to institutional clients. (Getty Images)
Finance
Crypto exchange
Crypto Exchange PowerTrade to Offer Custody Services to Institutional Clients
The firm is using technology from Copper, a crypto custody outfit, to hold digital assets outside of its exchange.
PowerTrade is working with Copper to offer custody services to institutional clients. (Getty Images)
By Will Canny
Nov 14, 2022 at 1:51 p.m. UTC
Nov 14, 2022
Crypto ExchangeCustodyExclusive