Author: NBTC

US dollar-pegged stablecoins and Bitcoin ($BTC) share a “symbiotic” relationship, mutually benefitting from rising adoption, according to Sam Lyman, head of research at Bitcoin Policy Institute (BPI), a Washington DC-based digital asset advocacy organization. “Bitcoin is beneficial to the US system because the largest Bitcoin trading pair is $BTC/USD,” or Tether’s USDt (USDT) stablecoin, which is backed by cash deposits and short-term US government debt, Lyman told Cointelegraph. He added: “There is a symbiotic relationship between $BTC and the dollar system because $BTC is most frequently traded in dollars. So, I do see those things as being mutually reinforcing, which…

Australia’s financial regulator has urged young investors not to rely on social media influencers and artificial intelligence chatbots to make financial decisions, according to a study that also found that one in four “Gen Zs” invest in crypto. The Australian Securities and Investments Commission (ASIC) posted the results of a survey on Sunday, finding that Gen Z has high levels of trust in “often unreliable sources,” which has contributed to riskier financial decisions. “Moneysmart’s Gen Z study found that while Gen Z has a strong appetite for reputable and trustworthy financial content, many struggle to find it – and their…

A fresh mint of $RLUSD on the $XRP Ledger has sparked discussion in the community about its potential impact on $XRP’s price. This follows the minting of 150 million $RLUSD by a U.S. exchange over the past day, which some commentators expected to boost $XRP’s value. Meanwhile, a top XRPL validator says investors may be misunderstanding the effect of stablecoin minting on the $XRP blockchain. Key Points Gemini minted 150M $RLUSD on XRPL, sparking debate over its impact on $XRP price. XRPL validator Vet says $RLUSD issuance does not create buying pressure for $XRP. $RLUSD acts as a liquidity on-ramp,…

State gambling enforcement against Kalshi is being challenged as 38 attorneys general back Massachusetts’ lawsuit. The case could shape whether states can enforce gambling licensing rules against event contracts. Key Takeaways: Coalition of 38 attorneys general supports Massachusetts lawsuit alleging Kalshi enables unlicensed sports betting activity. CFTC filing adds to the dispute as federal regulator claims exclusive authority over prediction markets. Court decision in Massachusetts case could reshape balance between state gambling enforcement and federal oversight powers. Kalshi Sports Betting Lawsuit Draws State Enforcement Push A bipartisan coalition of 38 attorneys general has filed an amicus brief supporting Massachusetts’ lawsuit…

World’s largest crypto exchange Binance has announced the delisting of the $XRP/MXN trading pair, scheduled for April 24. At first glance, the news suggests that Binance is cutting off a fiat route for $XRP in Mexico, but a closer look at the data reveals the exchange is removing an uncompetitive segment. Current market data from CoinMarketCap explains Binance’s decision better than any press release. A comparison of $XRP performance against the Mexican peso reveals total dominance by the local player, Bitso. Why $XRP/MXN delisting on Binance is actually a win for Ripple’s partner Bitso Daily trading volume on Binance stands…

Circle, the leading stablecoin issuer, officially launches $USDC and its Cross-Chain Transfer Protocol (CCTP) on the Pharos network. This integration marks a significant milestone for decentralized finance. It enables seamless, secure, and efficient cross-chain transactions. Developers and users on Pharos now access native $USDC liquidity. This move strengthens Circle’s multi-chain strategy. It also enhances the utility of $USDC across diverse blockchain ecosystems. Circle Launches $USDC and CCTP on Pharos Network: What This Means Circle launches $USDC and CCTP on Pharos network to address a critical need. The need is for interoperability between blockchains. Pharos, a high-performance layer-1 network, now supports…

Bitcoin drew mixed public views after new comments from market observers focused on long-term performance and price structure. Adam Livingston said Bitcoin’s recent price action shows a more stable pattern. In a post on X, he wrote that the asset’s oscillations are “dampening” and that the “funnel is closing.” He said this pattern shows Bitcoin moving closer to equilibrium around its long-term power law center. He added that Bitcoin now sits about “−0.94σ below center,” which he described as below trend and below fair value. Livingston said the narrowing range suggests blowoff tops are fading and that large crashes are…

Circle minted $8 billion in $USDC during the crypto downturn. $USDC has overtaken $USDT in adjusted transaction volume for the first time since 2019. Stablecoin market cap has crossed $300 billion as Bitcoin posts 8% weekly gains. Bitcoin is up 7.3% on the week, trading at $73,238. Ethereum has climbed 12.34% in seven days. The Fear and Greed Index, which was deep in Extreme Fear territory just weeks ago, has recovered to 39. Something is shifting, and the stablecoin market may have seen it coming. The Dry Powder Thesis Since the start of February, Circle has minted over $8 billion…

Recent commentaries suggest $XRP and Ripple Treasury now have a direct link to SWIFT, but the real situation may be more complex. Discussions around a possible link between $XRP and SWIFT have emerged after Chad Steingraber highlighted Ripple Treasury’s presence in SWIFT’s Certified Partner Program. However, this connection is not new and does not mean $XRP directly integrates with SWIFT. The SWIFT linkage existed long before Ripple acquired GTreasury, and Ripple’s role has mainly been to improve the platform by adding blockchain capabilities. Key Points Chad Steingraber recently highlighted Ripple Treasury’s listing in SWIFT’s partner program, suggesting a direct $XRP-SWIFT…

CFTC escalates prediction market fight as state challenges intensify across the U.S. The Kalshi case in Massachusetts heightens tensions, with regulators warning states they will see them in court. Key Takeaways: CFTC filing asserts exclusive authority over prediction markets, signaling federal dominance over state challenges ahead. Massachusetts case involving KalshiEx highlights conflict where state enforcement threaten unified national derivatives oversight framework. Mike Selig warns states challenging CFTC authority will face litigation, escalating tensions prediction market regulation. CFTC ASSERTS EXCLUSIVE CONTROL OVER PREDICTION MARKETS The Commodity Futures Trading Commission (CFTC) on April 24 submitted an amicus brief to the Massachusetts Supreme…