Author: NBTC
Federal Reserve Board member Lisa Cook filed a lawsuit today challenging President Donald Trump’s decision to remove her from office. Cook argued that the White House lacked the authority to do so and insisted she wanted to keep her position. Cook’s lawsuit, filed in U.S. District Court in Washington, called the dismissal “unprecedented and illegal.” Cook described Trump’s move as an attempt to put political pressure on the independent Federal Reserve to cut interest rates. This case is seen as the start of a critical legal process for the future of the Fed, an independent institution. Trump has long criticized…
In a significant move poised to reshape the digital asset landscape, leading stablecoin issuers Circle and Paxos are embarking on a groundbreaking pilot program. They are introducing a robust stablecoin verification system designed to bring unprecedented transparency and trust to the market. This initiative could mark a pivotal moment for the future of stablecoins, setting new benchmarks for issuer accountability. Unveiling the Stablecoin Verification System Pilot Bloomberg recently reported on this exciting development, highlighting the collaboration between two major players in the stablecoin space: Circle, issuer of USDC, and Paxos, known for USDP and BUSD. These industry giants have partnered…
DeFAI tokens continue displaying remarkable performance as several projects are getting broader attention when it comes to social activity, an indicator that people are buying these crypto coins. Fresh data reported today by market analyst Phoenix Group listed top-performing DeFAI projects based on market sentiment. DeFAI coins are projects that utilize AI agents to simplify and automate DeFi activities. By taking advantage of AI algorithms, DeFAI assets provide clients with automated trading solutions and improved investment opportunities. DeFAI, the combination of DeFi and AI, is not just another blockchain trend, but a development towards flexible-data-driven finance that functions more intelligently.…
Crypto stocks took a sharp nosedive Tuesday as investors dumped tech and risk assets after a strong rally last week that had been fueled by growing speculation around interest rate cuts, but that momentum broke hard as traders got spooked by rising uncertainty ahead of Federal Reserve Chair Jerome Powell’s upcoming remarks in Jackson Hole, Wyoming. Among the hardest-hit names was Galaxy Digital, the crypto financial services firm that cratered by 10%. Coinbase, now part of the S&P 500, gave up over 5%, while eToro fell even further, sliding more than 6%. Other platforms like Robinhood and Bullish were also…
Argentina is reopening its investigation into President Milei over the LIBRA scandal. The first commission, created in April, faced bureaucratic and Congressional hurdles and was unable to operate properly. Milei, however, now faces new corruption scandals largely unrelated to crypto. These enabled a new political coalition to forcibly reopen the investigation, which should continue through the October elections. Milei’s Alleged LIBRA Involvement The LIBRA pump and dump was a massive scandal for Argentina, but the search for answers and justice seemingly hit a low point recently. President Milei dissolved the Task Force investigating his involvement in May, and US-based prosecutions…
Retail traders on Solana-based decentralized exchanges are shifting their attention elsewhere in the cryptoeconomy, with the month of August extending a year-long decline as concerns linger over scams related to meme coins. The daily DEX trader count has plummeted from a peak of 4.8 million at the start of the year to just 900,000 in August, according to one Dune Analytics dashboard. Daily DEX transactions have also nearly halved, from a July peak of 45 million to 28.8 million. One expert Decrypt spoke to has linked the dip to predatory meme coin rug pulls and Ethereum’s growing dominance. “The…
Falcon Finance has launched an onchain insurance fund with an initial $10 million contribution to enhance risk management and protect users of its USDf stablecoin ecosystem. $10M Backstop: Falcon Finance Establishes Onchain Safeguard According to the release shared with Bitcoin.com News, Falcon Finance has established an onchain insurance fund, seeding it with an initial $10 million in its USD1 stablecoin. The fund is designed as a structural safeguard to enhance transparency and provide protection for counterparties and institutional partners engaging with the protocol. The fund will act as a financial buffer to protect the protocol and its users during periods…
Celsius has cautioned creditors from falling prey to rising phishing scams. The Celsius creditors are set to recover 67% to 85% of their holding through the stipulated recovery plan. The third Celsius distribution will happen via the same methods including PayPal, Coinbase, Venmo, and Hyperwallet. Celsius, a defunct cryptocurrency lending platform currently undergoing a court-approved reorganization plan, has announced the commencement of the third funds distribution to creditors. According to the announcement, Celsius will distribute $220.6 million to creditors through the approved methods. After distributing 93 percent of the funds owed to creditors last year, Celsius will begin distributing the…
The president fired the central bank governor on Monday evening, but Cook is fighting back with a lawsuit that will likely end up at the Supreme Court. Fed Governor Lisa Cook’s Lawsuit Against Trump to Be Reviewed Friday “I will not resign. I will continue to carry out my duties to help the American economy as I have been doing since 2022.” That was the defiant response of Federal Reserve Board Governor Lisa Cook in a written statement published by multiple media outlets on Tuesday, less than a day after U.S. President Donald Trump posted a letter on Truth Social,…
The cryptocurrency world is always buzzing with activity, and recent on-chain data has captured the attention of many. A notable Ethena ENA deposit, valued at nearly $9.64 million, has just landed on Binance. This significant movement by a multi-signature address linked to the Ethena project is certainly worth a closer look for anyone following the crypto space. What Exactly Was This Ethena ENA Deposit? Just a short while ago, an address identified as belonging to the Ethena (ENA) project team made a substantial transfer. They deposited a whopping 15 million ENA tokens, equivalent to approximately $9.64 million, directly to the…