Author: NBTC

South Korean payment processor KG Inicis is exploring whether stablecoins can become a practical payment method for everyday online commerce through a new partnership with the Solana Foundation, signaling growing interest among traditional financial companies in blockchain-based payment infrastructure. KG Inicis has entered into a partnership with the Solana Foundation to evaluate digital asset payment infrastructure, including stablecoin-based checkout, merchant settlement systems, and blockchain-powered loyalty programs. The initiative will be developed alongside affiliate KG Financial, which has been conducting proof-of-concept work focused on stablecoin issuance and payment services using Solana’s blockchain network. The agreement represents one of the most significant…

Garrett Jin, the founder of the now-defunct cryptocurrency exchange BitForex, is currently facing an unrealized loss of approximately $21.12 million on a leveraged Bitcoin long position. According to data shared by on-chain analyst ai_9684xtpa, Jin holds a 5x leveraged long position totaling 1,268.33 BTC. Details of the Position The position’s average entry price is $76,117 per Bitcoin, placing it significantly above current market prices. However, the liquidation price is set at $16,962, a level far below today’s trading range. The analyst noted that because the liquidation price is so low, there appears to be virtually no immediate risk of forced…

SPCX has already turned SpaceX’s post-debut volatility into a crypto-native liquidation event. SpaceX-linked perpetual contracts exceeded $50 million in 48-hour liquidations as the underlying stock tested its $150 Nasdaq opening price, showing how quickly tokenized-stock exposure can shift from an access story to leveraged market plumbing. SPCX perpetual liquidations ranked behind only Bitcoin and Ethereum in crypto derivatives liquidation volume at the time. This raises a harder question: whether equity-linked wrappers can become forced-liquidation engines before the traditional market has finished determining the equity’s value. That distinction mattered over the last 48 hours because SpaceX traded below its $150 Nasdaq…

Recently, $CARDS has been gaining attention on social media, particularly after a widely shared post by @CoinDesk posed the question of whether it is one of the most undervalued protocols in the crypto space. This conversation was amplified by Arthur Hayes, who shared the post, indicating a growing interest in $CARDS from influential voices in the industry. Inside the Move The current market context shows mixed signals across major cryptocurrencies, yet $CARDS is experiencing a notable uptick in social media buzz. With 97 likes and 14 retweets on the tweet highlighting $CARDS, the engagement reflects a community keen on discussing…

Hong Kong’s securities regulator has added Aurum/Aurum Foundation to its alert list of suspicious virtual asset trading platforms after alleging the entity may be operating without the required authorization. The Hong Kong Securities and Futures Commission (SFC) said Aurum/Aurum Foundation claims on its website that it is registered in Hong Kong under the Companies Ordinance and offers virtual asset, futures contract, and derivatives trading services. The regulator stated that Aurum/Aurum Foundation does not hold an SFC license and is suspected of conducting unlicensed activities. The SFC included the platform on its Alert List, which identifies entities that may pose risks…

MiniPay has launched a Visa debit card that allows users in selected markets across Africa, Latin America, Southeast Asia and Europe to make purchases using stablecoins. According to Tuesday’s announcement, the card is powered by Gnosis Pay’s infrastructure, enabling users to pay directly from their MiniPay wallets while merchants receive local currency through Visa’s network. MiniPay said it has grown to more than 16 million activated wallets across 65 countries since launching in 2023, with much of its adoption concentrated in Africa and other emerging markets. The card can be added to Apple Pay and Google Pay, while eligible users…

The Seoul-to-Nasdaq Contagion On Tuesday, June 23, the South Korean index, Kospi, plunged by more than 8%, triggering a Level 1 circuit breaker. The sharp drop was attributed to a severe global semiconductor stock correction, heavy retail margin liquidations and massive foreign capital outflows. On the same day, bitcoin also plummeted from over $64,000 to under $62,000, a drop that some analysts attributed to souring investor sentiment. While the slide continued into Wednesday, Mike McCluskey, co-founder of Tx and a former Fidelity executive, insists the sell-off of tech stocks in Seoul precipitated bitcoin’s downtrend, which ultimately saw it drop to…

The Bank of England (BoE) has softened its proposed stablecoin rules, removing planned limits on how much stablecoin individuals and businesses can hold. Instead, the central bank will introduce a temporary £40 billion cap on the total issuance of each systemic sterling-backed stablecoin. The change marks a shift from last year’s proposals, which would have limited individuals to holding £20,000 worth of stablecoins. The proposed rules would have limited businesses to £10 million. After receiving feedback from industry participants, the BoE decided that an overall issuance cap would be a more practical approach. Stablecoins Moving Beyond Crypto Use Cases The…

A single-stock derivative from a private company just notched over $76 million in liquidations, ranking behind only Bitcoin and Ether in crypto derivatives wipeouts. The move puts a spotlight on how far tokenized equity products have come — and how quickly they can unravel under leverage. According to data from Coinglass cited in the original report, SPCX perpetual contract liquidations surged over the past 24 hours as the price of the SpaceX-linked instrument sank below its first-day opening level. The SPCX perpetual briefly touched a 24-hour low of $147.17, slipping under the $150 mark where it debuted. It remains above…

By offering commercial banks’ financial incentives for processing payroll transactions via the Bank of Russia’s digital ruble platform, Russia seeks to convince other nation-states that utilizing digital currencies will become popular among consumers. If successful, this plan may encourage countries around the world to utilize digital currencies, as well as challenge the broader narrative that alternative payment methods implemented by cryptocurrencies are viable solutions to national payment systems. On June 24, the Bank of Russia announced that beginning on January 1, 2027, commercial banks that process payroll transactions through the digital ruble network will be paid 67 kopecks ($0.67), which…