Author: NBTC

Changpeng “CZ” Zhao’s $10 billion investment firm YZi Labs is weighing plans to open the fund to outside capital and external investors. YZi Labs manages Zhao’s personal fortune and funds from a few early Binance insiders, including co-founder Yi He. The fund accepted about $300 million in outside funding in 2022, but later returned part of it, citing the overwhelming scale of capital already under management. “There’s always a lot of external investors interested,” Ella Zhang, who heads the fund, told the Financial Times. “We will eventually consider turning it into an external-facing fund. We just think it’s not there…

Ripple (XRP) Chief Legal Officer (CLO) Stuart Alderoty criticized the portrayal of cryptocurrencies as “tools for crime and corruption,” saying that this approach is both baseless and does not reflect reality. In his post on the X platform, Alderoty stated that recent news in traditional media has ignored the transparent blockchain and its large user base. “These words are useful, but lazy and wrong,” Alderoty said, arguing that the primary focus should be on who uses crypto and for what purposes. He noted that digital assets are used by tens of millions of Americans in practical applications like lending, proof…

Foris DAX Middle East, trading as Crypto.com, has received In-Principle Approval (IPA) from the Central Bank of the UAE (CBUAE) for a Stored Value Facilities (SVF) license which will allow it to provide digital payment services for Dubai government fees in UAE Dirham or UAE Dirham-backed stablecoins. Once the final license is granted, the company will be able to provide digital payment services for Dubai Government fees in UAE dirhams or dirham-pegged stablecoins, through the SVF framework. Customers will be able to pay using any digital assets held on Crypto.com’s regulated platform in Dubai, which will convert assets into UAE…

The Ethereum price fell sharply in the past 24 hours, dropping from near $4,300 to as close to $3,400 before partially rebounding to around $3,800. The move came alongside almost $19 billion in crypto liquidations, one of the largest single-day sell-offs this year, led by the China-US tariff dispute. The sudden flush wiped out long positions across major exchanges and sent traders rushing to hedge in futures markets. While Ethereum remains down about 13% at press time, early signs from derivatives and technical charts suggest the sell-off may have gone too far — and that a rebound could be forming…

YZi Labs, the family office founded by Binance co-founder Changpeng “CZ” Zhao, may open up to external investors, the Financial Times reported on Tuesday. The $10 billion investment company, which was rebranded from Binance Labs, is open to the possibility of converting into an investment fund, head of YZi Labs Ella Zhang said in an interview, according to the report. “There’s always a lot of external investors interested and we will eventually consider turning it into an external-facing fund,” Zhang said. While YZi naturally has considerable nous in Web3 investments, it is “still early” in the fields of artificial intelligence…

Top U.S. lawmakers are preparing to meet with major crypto industry figures this week in a private roundtable that could shape upcoming policy decisions. Summary Sen. Gillibrand to host crypto roundtable with industry leaders on Oct. 22. Participants include executives from Coinbase, Ripple, Chainlink, and Uniswap. Meeting follows backlash over a leaked DeFi proposal and stalled negotiations. Pro-crypto Senate Democrats will meet with leading crypto executives on Oct. 22 to discuss stalled digital asset legislation and the future of DeFi regulation. According to an Oct. 20 post on X by Crypto in America host Eleanor Terrett, the roundtable, led by…

Boerse Stuttgart Digital, the leading European provider of cryptocurrency infrastructure, strengthens its presence in the German market through a new and significant partnership with DekaBank. The goal is ambitious: to develop a crypto offering aimed at retail clients of the German Savings Banks (Sparkassen), thereby expanding access to cryptocurrencies for an increasingly wide audience of private investors. Boerse Stuttgart Digital x DekaBank: a tailored crypto offering for the retail segment Comprehensive Coverage of the Value Chain The shared values at the foundation of the partnership A solid infrastructure for the Sparkassen From Institutional Clients to Retail: A Natural Evolution Simple…

Ethereum (ETH) is gaining the attention of whales and institutional investors after the cryptocurrency market suffered a massive price drop. Insights from Lookonchain, an on-chain analytical platform, indicate that there have been purchases from large holders despite the market crash. Surge in Ethereum volume signals growing investor confidence Notably, two new wallets belonging to BitMine, a large mining firm, withdrew 33,323 ETH valued at $126.4 million from two exchanges. The 33,323 ETH pulled out from FalconX and Kraken to private wallets suggests that there are plans to hold the asset long-term. Such a development amid a price crash indicates a…

Confusion swept through Binance Wallet users earlier today after social media platforms reported that wallet balances were abruptly showing $0. Binance’s web and mobile apps both showed missing funds for a few minutes, raising concerns about a potential outage or backend issue. Users have shared screenshots of their wallets, which are completely empty of any token balances, transaction histories or even DeFi or NFT data. Many believed that the problem was widespread, as some traders were unable to process transfers or confirm their holdings. Additionally, a number of users reported that the browser-based portfolio view on Binance did not load,…

This week, Ethereum ETFs had a net withdrawal of $175 million, revealing growing unease from investors within the altcoin sector. The broader cryptocurrency market has exhibited volatilit. However, the deviation experienced here with fund flows for Ethereum versus Bitcoin indicates a shift in sentiment. Bitcoin ETFs only experienced outflows of $4.5 million, which may suggest that institutions are still treating Bitcoin. It is a more favorable investment action overall in uncertain scenarios, compared to Ethereum. Despite adding substantial and positive displays on the network from up-and-coming developments and improvements to various sectors, Ethereum has had challenges producing a positive sentiment…