Author: NBTC
Coinbase has accused the Federal Deposit Insurance Corporation (FDIC) of blocking access to crucial documents tied to its Freedom of Information Act (FOIA) requests about the financial regulator’s overreach in targeting crypto firms. The crypto exchange alleges that the FDIC is withholding key information despite a court ruling requiring disclosure. Coinbase Challenges FDIC Over Alleged Hidden ‘Pause Letters’ On January 17, Paul Grewal, Coinbase’s Chief Legal Officer, criticized the FDIC’s handling of its FOIA requests. The controversy centers on the letters the FDIC issued to banks involved in cryptocurrency-related services. These letters reportedly advised financial institutions to halt their crypto…
The broader digital currency ecosystem is still reeling from the latest price action of Bitcoin (BTC) and some of the altcoins in the top 10. Reacting to recent events, BTC advocate Samson Mow has spotlighted the “God Candle” on the Bitcoin chart. He accompanied the post on X with an “Omega” icon, with watchful eyes on the trend. Bitcoin Omega Candle: More to come In the past few weeks, when the price of Bitcoin traded in a consolidation channel below $98,000 before breaking out, Mow has always maintained his stance that the coin was undervalued. As reported earlier by U.Today,…
Mountain Protocol has announced the native issuance of its yield-bearing stablecoin USDM on ZKsync Era. The launch enables ZKsync (ZK) users to leverage the USDM stablecoin in decentralized finance while earning yield from tokenized Treasury bills. According to the Mountain Protocol team, the two tokens, USDM and wUSDM, are now natively available on ZKsync Era. USDM is a regulated ERC-20 token, similar to other top fiat-backed stablecoins, and was first unveiled in September 2023. It allows holders to benefit from U.S. Treasury bills and other opportunities across DeFi. The rebasing stablecoin offers a 4.7% annual percentage yield, with rewards accrued…
One of the creators of the top smart contact platform Ethereum (ETH) says the Web3 explosion will be exponentially larger than that of the dot-com bubble of the late 90s. In a new thread on the social media platform X, Joseph Lubin – who now serves as the chief executive of blockchain technology firm ConsenSys – says the Web3 boom is already underway, and he believes it will make a positive impact to the world. “The Web3 boom is on and it will be orders of magnitude larger than the dot-com boom. It will be a rough and wild ride,…
This is a segment from the Lightspeed newsletter. To read full editions, subscribe. Crypto is much ado about AI these days, and two Solana startups recently closed funding rounds for businesses merging AI with social applications. Social graph protocol Tapestry announced a $5.75 million Series A led by Union Square Ventures and Fabric Ventures, and Oh raised $4.5 million in seed funding to “build AI agents for the spicy content industry.” The pair of fundraises both came with expansive ideas about the future of AI — and how humans can still stake a claim to that future. Tapestry is focused…
IOTA is being likened to a more advanced version of Sui (SUI), with features such as decentralized identity (DID), better tokenomics and RWA tokenization. Riding on these developments, IOTA’s price surged 14.43% on November 25, with a 127% monthly gain. IOTA (IOTA) token price is likely to mimic Sui’s (SUI) rally once the larger crypto community realizes its potential. An IOTA supporter on X highlighted the blockchain’s potential, likening it to a more advanced version of Sui. IOTA’s Use Case In Spotlight “Imagine what will happen to IOTA when US investors and funds realize that IOTA is basically SUI 2.0…
According to a January 18 report from Politico, Ripple, Coinbase, Kraken, Circle, and Robinhood have collectively donated over $10 million to Trump’s inauguration fund. The crypto industry is consistently proving that it is serious about its allegiance to President Donald Trump. The money will be used to cover elaborate inaugural events in Washington, D.C. The industry had already spent hundreds of millions of dollars on Trump’s campaign, with expectations of a crypto-friendly administration. Trump, for his part, has already started to deliver on his promises. The entire crypto community now anxiously and excitedly waits for Monday. Some expect him to…
Bitcoin (BTC), the largest cryptocurrency by market capitalization, hit a record-high above $109,000 on Monday, sending both implied volatility and realized volatility to the highest levels since August’s yen carry trade unwind. Realized volatility is the historical price fluctuations of bitcoin over the past 30 days. It hit 67 on the Bitcoin Volatility Index (BVOL) on Deribit. The Bitcoin Volmex Implied Volatility index (BVIV) hit a high of 71. Implied volatility is the market’s expectation for future price fluctuations derived from options pricing. Both indexes are up around 2% on the day. “The positive correlation between bitcoin’s price and implied…
The DeFi sector continues to progress, with the prominent dApps making new developments. As per the data from Phoenix Group, Aerodrome, Ethena, and Sky have emerged as the top players in terms of key metrics. The on-chain analytics firm provided the list of prominent dApps on its official social media account. KEY METRICS ON POPULAR #DAPPS #Aerodrome $AERO #Ethena $ENA #Sky $SKY #Aave $AAVE #Uniswap $UNI #LidoFinance $LDO #Jito $JTO #PancakeSwap $CAKE #Usual $USUAL pic.twitter.com/LCXqYyJs1v — PHOENIX – Crypto News & Analytics (@pnxgrp) January 20, 2025 Aerodrome Leads dApps with Stunning $33.36M in Revenue In Phoenix Group’s list of prominent…
he Ethereum Foundation created a multisig wallet to transfer 50,000 ETH to increase DeFi participation. The organization plans to back the wallet with around $150 million worth of ETH, but noted that the setup could take several days. Hsiao-Wei Wang, who was recently appointed to a leadership role at the foundation, said in a statement: “The Ethereum Foundation (EF) has set up a new Safe 3-of-5 multisig wallet… An operation has been initiated to send 50,000 ETH to it, but be patient; due to signature delays, this will take a few days to process.” There have been long-standing concerns about…