Author: NBTC

Additionally, the OFAC also sanctioned a network of foreign exchange houses, shell companies and individuals on Friday that it said helped Iran’s shadow banking system move hundreds of millions of dollars, including funds tied to overseas oil sales. “The Iranian regime’s reliance on digital assets and shadow banking networks is further evidence that Economic Fury is working,” Treasury Secretary Scott Bessent said in a statement. “Whether in dollars, rials, or crypto, Treasury will hunt down and dismantle the illicit financial networks that keep the regime afloat.” The designations came as the U.S.-Iran war has raised the stakes of Washington’s push…

BlackRock’s iShares Bitcoin Trust, ticker IBIT, is a spot Bitcoin ETF that lets investors gain direct exposure to Bitcoin’s price through a standard brokerage account, without holding cryptocurrency themselves. Approved by the U.S. Securities and Exchange Commission in January 2024 as part of a simultaneous approval of ten spot Bitcoin ETFs, IBIT has since become the largest Bitcoin ETF in the world by assets under management, surpassing $70 billion in AUM at its peak during 2025 when Bitcoin traded above $100,000. What Is IBIT And How Does It Actually Work? IBIT holds actual Bitcoin, not futures contracts or derivatives. Each…

A wave of law-firm alerts is warning BitGo investors about an Aug. 7 deadline. However, the cutoff applies only to those seeking to lead a proposed securities class action against the crypto custodian. Over the past few days, several law firms, including DJS Law Group, Faruqi & Faruqi, and Schall Brown & Schwartz, have issued notices. They urged the crypto custodian’s shareholders to act by Aug. 7. However, the disclosures clarify that appointment as lead plaintiff is not required to participate in any eventual financial recovery. Under the Private Securities Litigation Reform Act, the 60-day window sets the lead-plaintiff process.…

Shiba Inu has seen over 3 million tokens burned in the last 24 hours, yet its burn progress remains slow. The daily burn rate remains in the red and is down 15.80% while the weekly and monthly burn rates stay down by 28.12% and 37.44% respectively. 59.77 million $SHIB worth $251 was burned in the last seven days, culminating in 286.85 million $SHIB being burned in the last 30 days. The total $SHIB burned from the percentage supply is still at 41.08%, which shows that there is consistent burning of tokens but not enough to make a dent in the…

If the crypto industry’s Digital Asset Market Clarity Act fizzles in the U.S. Senate, the result may not be fatal, but it’s a heavy blow The legislation has hit a wall, and the odds of it breaking through get slimmer by the moment. So a new law may not arrive this year to clearly define the distinctions among crypto securities, commodities and other assets, nor who is responsible for overseeing the companies that handle them. And the U.S. Commodity Futures Trading Commission may not get the explicit authority to govern the commodity trading in which the bulk of crypto changes…

Crypto perpetual futures trading volume on centralized cryptocurrency exchanges (CEXs) fell to $4 trillion in July, marking a 31-month low last seen in December 2023. Binance led CEXs with $1.4 trillion in monthly perpetual futures volume, followed by OKX with $607 billion and Bybit with $300 billion, analytics platform CryptoRank said in a Friday X post. Perpetual futures volumes briefly recovered between April and June before declining across all major venues in July. The 31-month low in perpetual futures activity came as daily spot crypto trading volume fell 23.6% between July 1 and July 31, from $17.8 billion to $13.6…

Nakamoto Inc. (Nasdaq: NAKA), a Nashville-based Bitcoin operating company, announced today a set of capital structure initiatives that include a $45 million debt reduction, a loan refinancing with extended maturities, and a $25 million share repurchase authorization. Shares of NAKA briefly climbed 20% on the news, at the time of writing. The company retired $45 million in outstanding debt through the repayment of a portion of its loan with Payward Interactive, Inc., doing business as Kraken. Nakamoto funded the repayment by selling approximately 600 Bitcoin and Bitcoin-related derivative positions, which generated approximately $48 million in net proceeds. The transaction leaves…

Domestic-currency stablecoins intended to curb reliance on dollar-backed tokens could instead make it easier for users to move funds into digital dollars, according to a senior International Monetary Fund (IMF) official. On Friday, IMF First Deputy Managing Director Dan Katz said that once local and dollar stablecoins operate on the same blockchain infrastructure, users can convert between them through decentralized exchanges, liquidity pools or peer-to-peer swaps. In a speech at the University of Cape Town, Katz said the shift could move foreign exchange activity away from banks and currency dealers, reducing the friction that gives authorities tools to monitor and…

The negative aspects of the US Clarity Act, which favors the bull market for Bitcoin and altcoins, continue. This is because the US Senate postponed its vote on the CLARITY Act, aimed at regulating the cryptocurrency market, until September. Following this development, a noteworthy assessment came from Michael Saylor, the founder of Strategy, who is known as a big bull in the market. Following the delay in the Senate hearing, Saylor, in a statement made via her X account, claimed that Bitcoin does not need the CLARITY Act, but the U.S. needs clarity. In this context, Saylor stated that the…

Circle has launched its $USDC stablecoin on X Layer, OKX’s Ethereum layer-2 network, extending the stablecoin to an ecosystem connected to one of the world’s largest cryptocurrency exchanges by trading volume. Circle announced Friday that native $USDC and its Cross-Chain Transfer Protocol (CCTP) are now available on X Layer. The network is compatible with the Ethereum Virtual Machine (EVM), allowing applications built for Ethereum to run on it with relatively few changes. CCTP allows $USDC to move between X Layer and other supported blockchains by burning the tokens on the source chain and minting an equivalent amount on the destination…