Author: NBTC
Due to U.S. regulatory hurdles, State Street will initially focus on tokenization rather than crypto custody, with the first tokenization client to be named soon after going live. State Street has been “very vocal” about the need to change the SEC’s SAB 121, which could force banks seeking to hold crypto to maintain an onerous amount of capital to compensate for the risk. State Street, the global custody bank with $44.3 trillion in assets under its watch, chose cryptocurrency custody and tokenization specialist Taurus to provide digital assets services in anticipation of a more congenial regulatory climate in the U.S.…
Known for his dedication to personal fitness, Coinbase’s CEO Brian Armstrong jumped into a Twitter chat about a “Deadlift ETF” that has been creating some social traction. It is an ETF crafted by @levelsio X user that only includes companies whose CEOs lift weights or engage in combat sports — no cardio-only allowed. Believe it or not, the ETF has reportedly outpaced the S&P 500 by 140% over the last four years. Hitting the gym hard, Armstrong, who trains six days a week, chimed in. That is when @levelsio replied, “Man I actually thought of you cause you looked jacked…
Notorious celebrity crypto promoter Sahil Arora took $380,000 in presale funding for a token he claimed to be Iggy Azalea’s official cryptocurrency. Over a month later, funds have started to leave the wallet but participants still complain they haven’t received any tokens. “I sent him 5 SOL ($670) from two different wallets and he just kept it,” one presale participant told Decrypt. “I put 3 SOL ($400) into it, never got anything. I’m surprised no one is calling him out for it,” another said. When asked about the status of the presale funds and why the SOL collected has been…
The Financial Industry Regulatory Authority (FINRA) has taken disciplinary action against a former JP Morgan employee over alleged regulatory breaches. The individual involved, Dale Self, faces a $5,000 fine and a 15-business day suspension due to improper handling of customer information. The allegations center around Self taking nonpublic personal information of clients from J.P. Morgan Securities without authorization. FINRA penalizes former JP Morgan employee for misappropriation of client data, underscoring the importance of data privacy in the financial industry. FINRA’s Actions Against Dale Self: The Core Issue Dale Self, an ex-employee of J.P. Morgan Securities, is under scrutiny for removing…
Main Takeaways: Binance Labs, the venture capital and incubation arm of Binance, has invested in Corn, the first super yield network built around Bitcoin. Corn is an Ethereum Layer 2 network focused on establishing a decentralized finance (DeFi) hub for Bitcoin. Corn has introduced BTCN, a hybrid tokenized Bitcoin that enhances Bitcoin’s use in DeFi. BTCN incorporates multiple custodians, smart contracts, and bridging protocols, providing a more secure, scalable, and versatile solution. This hybrid approach ensures Bitcoin holders can manage their assets according to their risk preferences while utilizing them across various DeFi applications. All network-level yields are redirected to…
Cryptocurrency analysis company Santiment shared the BSC and Binance Chain-based altcoins that developers have focused on most in the last 30 days. Accordingly, Bitcoin BEP2 (BTCB) ranked first on the list, followed by Dusk Foundation (DUSK) and Beefy Finance (BIFI). According to the list shared by Santiment, BSC and Binance Chain-based altcoins with the highest developer activity in the last 30 days are listed as follows: “1) Bitcoin BEP2 – BTCB 2) Dusk – DUSK 3) Beefy.finance – BIFI 4) Flux – FLUX 5) Trust Wallet Token – TWT 6) Saito – SAITO 7) ApeSwap Finance – BANANA 8) Frax…
Ripple’s chief legal officer says he wouldn’t be surprised if the U.S. Securities and Exchange Commission (SEC) does appeal the final ruling in the Ripple lawsuit over XRP. He questioned the SEC’s rationality and expressed confidence that any appeal by the SEC would likely fail. Alderoty urged the SEC to focus on its core mission of protecting investors rather than pursuing baseless cases. Ripple’s Legal Chief Criticizes SEC’s Actions Ripple’s Chief Legal Officer, Stuart Alderoty, addressed the possibility of the U.S. Securities and Exchange Commission (SEC) appealing the final ruling of the Ripple case over XRP during a live interview…
Major Wall Street firms are increasingly warming up to cryptocurrency, as evidenced by their stakes in the spot Bitcoin (BTC) exchange-traded fund (ETF). Specifically, financial filings indicate that major firms have made substantial bets on BlackRock’s (NYSE: BLK) Bitcoin ETF. This shift aligns with the product’s original goal of attracting institutional capital, particularly from influential players. Key investors include Capula Management which has emerged as the largest holder with 7,419,208 units, marking a significant increase in its stake. Goldman Sachs Group (NYSE: GS), follows closely, holding 6,215,241 units, with a recent addition of 4,719,208 units. Similarly, Avenir Tech Ltd/Hong Kong…
Recent market dynamics have again brought Ethereum’s supply into the spotlight and reiterated concerns about its inflationary trend. Earlier this year, Ethereum reached a significant milestone in its circulating supply, surpassing 120 million ETH and the number continues to grow. Unlike other prominent cryptocurrencies such as Bitcoin and Cardano, which have fixed supply caps, Ethereum was designed with an unlimited supply of tokens. This fundamental difference makes Ethereum an inherently inflationary asset, one that has a continuously increasing supply. On-chain data from Ultrasound.money has shed light on the growing supply of ETH in recent months amidst notable price fluctuations for…
zkMe Technology Limited has finalized a $4 million seed funding round led by Multicoin Capital, with participation from OKX Ventures and Robot Ventures. The funds will support the development of zkMe Network, a decentralized identity verification layer for Web3 applications, expected to launch later this year, according to the company’s release. Amid increased regulatory scrutiny, particularly from the EU’s upcoming MiCA regulations and the Financial Action Task Force, zkMe aims to provide a compliance solution for Web3 developers. You might also like: The Democrats are ignoring crypto — is that a good thing? Privacy and security The zkMe Network will…