Author: NBTC

Investors in Blackstone’s flagship private credit fund asked for their money back this quarter. Half of them won’t get it. The $79 billion Blackstone Private Credit Fund (BCRED) told shareholders on Thursday that withdrawal requests hit 10% of its outstanding shares but the fund will honor just 5%. It is the first time BCRED has ever capped redemptions. The cap works out to about half of what investors wanted, according to a regulatory filing. Last quarter, the fund did something more theatrical. Requests hit what was then a record 7.9%, higher than the quarterly 5% cap at which Blackstone is…

Pendle Finance has announced a crucial update regarding its Algorithmic Incentive Module (AIM), revealing a substantial reduction in $PENDLE emissions. Initially targeting a 30% cut, the actual reduction has reached 64,000 $PENDLE per week, surpassing expectations significantly. This update can be viewed in the official tweet from Pendle’s account here. What Happened The broader crypto market is currently exhibiting mixed signals, yet Pendle’s latest initiative stands out. The AIM was designed to align user incentives with the platform’s goals by automatically adjusting rewards based on performance. By effectively cutting emissions more than double the original target, Pendle is not only…

Tribal case tests a different Kalshi defense Kalshi faced the Ninth Circuit on July 10 as Blue Lake Rancheria, Chicken Ranch Rancheria of Me-Wuk Indians and Picayune Rancheria of the Chukchansi Indians challenged a lower-court decision allowing its sports markets to remain available on their lands. The appeal follows a November order denying their request for a preliminary injunction against Kalshi and its distribution partner Robinhood. The tribal appeal reaches the Ninth Circuit amid a widening federal preemption split over whether event contracts belong exclusively under commodities law. Attorney Lester Marston, representing the tribes, argued that Kalshi is offering unauthorized…

Binance has released its 44th proof-of-reserves report, showing that customer Bitcoin holdings increased during June while Ethereum and Tether balances declined. The report used a snapshot taken on July 1 and compared the figures with customer balances recorded on June 1. Customer Bitcoin holdings rose 1.22% to about 640,000 $BTC, an increase of 7,715 $BTC. Ethereum holdings fell 1.41% to around 4.08 million $ETH, a decline of 58,591 $ETH. Customer Tether holdings dropped 1.51% to about 33.7 billion $USDT, falling by roughly 510 million $USDT. Binance customer Bitcoin holdings continue rising The July figures extend the rise in customer Bitcoin…

Hosting a website on Internet Computer means your entire site, including the front end, back end, and data, runs inside on-chain smart contracts called canisters, with no traditional server, hosting company, or monthly bill involved. This is different from most blockchains, which only handle token transfers or basic contract logic while the actual website still sits on Amazon Web Services or a similar cloud provider. On Internet Computer ($ICP), the blockchain is the host. What Is a Canister, and Why Does It Matter for Hosting? A canister is the basic building block of Internet Computer. Understanding it is the first…

Most Bitcoin bulls celebrate the idea of a seven-figure price tag. Eric Larchevêque, co-founder of hardware wallet maker Ledger, does not. His bitcoin price outlook is built on a darker premise: if Bitcoin ever hits $1 million, it will probably mean the world is in serious trouble. Key takeaways Ledger co-founder Eric Larchevêque says a $1 million Bitcoin price would signal war, debt crises, and fiat currency collapse — not mainstream adoption success. US national debt has surpassed $39 trillion, which Larchevêque cites as a structural driver toward currency failure. Bitcoin currently trades just below $63,000, roughly 16 times away…

Fidelity slashed its SpaceX IPO entry requirement from as much as $500,000 to just $2,000, opening the year’s biggest stock debut to millions of retail investors. Five brokerage flipping rules now decide who keeps that access. The move follows SpaceX reserving up to 30% of its offering for retail clients, well above the small share they usually receive. That choice hands everyday investors rare entry to a roughly $1.77 trillion listing. Fidelity Opens the SpaceX IPO to Retail Investors Fidelity confirmed the lower threshold this week, pointing to the expanded retail allocation. Dropping the floor from as much as $500,000…

The Solana Foundation amplified a widely shared post from @MacroMate8 about an innovative new primitive on the Solana network. This post highlights the introduction of features that could unlock new functionalities, enhancing user engagement and network activity. More details can be found in the original tweet here. What Went Down While most altcoins traded sideways today, the Solana network is buzzing with anticipation over new primitives that promise to enhance its capabilities. These developments, retweeted by the Solana Foundation, suggest that the network is positioning itself for greater utility and adoption. Observers are keen on how these innovations could potentially…

Regulatory Pressures and the FATF Grey List Financial technology startup Hurupay is exiting the Kenyan market as local regulators intensify anti-money laundering checks and compliance audits on digital asset platforms. The exit comes as Kenya accelerates regulatory interventions to secure its removal from the “grey list” maintained by the Financial Action Task Force (FATF), an international financial crime watchdog. The FATF placed Kenya on its increased monitoring list in 2024 due to structural deficiencies in the country’s systems for combating money laundering and terrorist financing. Since the listing, Kenya has implemented several corrective measures, including the adoption of a legal…

South Korea’s leading cryptocurrency exchanges, Upbit and Bithumb, have announced they will add the $DRV token to their trading lists. According to the announcements, $DRV will be listed on Upbit against South Korean won (KRW), Bitcoin ($BTC), and Tether ($USDT), while Bithumb will only offer the token in the KRW trading pair. The simultaneous listing decision by the two major exchanges is being closely watched by the market as it is expected to increase the project’s visibility and liquidity. According to Upbit’s official announcement, the $DRV token will begin trading on the KRW, $BTC, and $USDT markets. Thanks to multi-pair…