Author: NBTC
Ripple’s $125M penalty reduction request denied by Judge Torres, stalling a proposed SEC settlement. A final Ripple win could set a legal precedent, allowing banks and institutions to adopt blockchain for core financial functions. The ongoing legal battle between Ripple Labs and the U.S. SEC has reached a critical juncture. On May 8, 2025, Judge Analisa Torres denied a joint motion from both parties seeking an indicative ruling to reduce Ripple’s $125 million penalty to $50 million and to release associated escrow funds. The court deemed the motion “procedurally improper,” effectively stalling the proposed settlement. Despite this setback, Ripple’s Chief…
Binance has asked a Delaware bankruptcy judge to toss out a $1.76 billion lawsuit brought by the FTX estate, saying that the defunct crypto platform is attempting to “shift the blame” for its collapse away from founder Sam Bankman-Fried and onto his competitors. Binance Holdings Ltd. said the complaint is “legally deficient” and cannot plausibly link Binance or its former CEO Changpeng Zhao to FTX’s downfall, in a motion to dismiss filed last Friday. “Plaintiffs are pretending that FTX did not collapse as the result of one of the most massive corporate frauds in history,” the filing said, noting that…
A team of Coinbase alumni has raised $11 million to debut True Markets, a stablecoin-native DeFi app offering real-time execution and self-custody on Solana. True Markets, a new mobile-focused non-custodial startup founded by former Coinbase executives Vishal Gupta and Patrick McCreary, has raised $11 million to bring its stablecoin-native, mobile-first DeFi app to iPhones, pushing total funding to $20 million as it bets on Solana for faster, safer crypto trading. The round was co-led by Accomplice and RRE Ventures, with additional backing from Reciprocal Ventures, Variant Fund, and PayPal Ventures, according to a press release shared with crypto.news. Founded by…
Ethereum’s supply on centralized exchanges has dropped to its lowest level in over 10 years, as large holders and institutions continue to accumulate the asset. According to a May 19 update by Santiment, less than 4.9% of Ethereum’s (ETH) total supply is now held on exchanges, a record low in the network’s 10+ year history. Santiment noted that over the last five years, 15.3 million ETH have been withdrawn from centralized trading platforms. 📉 Ethereum has under 4.9% of its supply on exchanges for the first time in its 10+ year history. And Bitcoin’s supply on exchanges is down to…
Trump’s WLFI partners abandoned a hacked crypto DEX, pocketing millions instead of reimbursing its victims. The Trump family’s crypto ventures are once again under scrutiny due to their associations with unsavory characters. On Monday, May 19, Reuters released a report about World Liberty Financial partners’ past mismanagement of a since-abandoned crypto exchange. Zak Folkman and Chase Herro, two key figures in WLFI, were also founders of Dough Finance, a controversial platform that enabled heavily leveraged crypto trades. The platform suffered a devastating hack in July 2024, resulting in $2.5 million in user losses. You might also like: Is Trump’s crypto…
The Supreme Court of India criticized the government for taxing crypto at 30% without establishing clear regulations, calling it inconsistent policy. Ultra-rich Indians are shifting from crypto to luxury real estate, citing lack of regulation, safety, and capital protection as key drivers. On May 20, 2025, the Supreme Court of India expressed concern over the central government’s delay in establishing a clear regulatory framework for cryptocurrencies. The court likened unregulated Bitcoin trading to a “hawala business,” an informal and often illegal method of transferring money, highlighting the potential for misuse and economic impact. The justices emphasized the necessity of monitoring…
Decentralized finance has long been synonymous with the Ethereum blockchain, but the world’s first smart contract network no longer has the market in such an iron grip. In the last few years, a new generation of faster, more performant blockchains like Solana, Radix, and Sui have emerged with competing DeFi platforms, leading to the rise of a more vibrant ecosystem. However, Ethereum’s biggest challenge in DeFi may not come from those pretenders, but a much older stalwart in the blockchain industry. That would be none other than Bitcoin, which is nurturing a still small but rapidly growing DeFi industry of…
FIFA, the governing body of international soccer, is planning to migrate its FIFA Collect NFT collectibles platform to its own Avalanche Layer-1 blockchain. FIFA Collect, which allows users to purchase and trade NFT-based soccer highlights, was previously launched on Algorand and also issued some collectibles on the Ethereum scaling network Polygon. In April, the platform said it would leave Algorand and migrate assets to a new FIFA-centric blockchain, which is now confirmed to be powered by Avalanche. “This move enhances our ability to deliver unique digital collectibles and immersive fan experiences, powered by the speed, scalability, and EVM compatibility. That…
Abraxas Capital, a $3 billion investment management firm, has allocated $837 million toward Ethereum (ETH), boosting its total portfolio value to over $950 million. This bold move reflects growing institutional confidence in ETH and has sparked speculation among analysts about the potential onset of an altcoin season. Notably, the firm’s decision to increase its holdings comes amid rising interest in Ethereum. Traders have been increasingly buying ETH, leading to a significant drop in exchange reserves to their lowest levels in nine months. Why Are Investors Buying Ethereum? Ethereum, which faced challenges in 2025 due to lackluster price performance and rising…
Circle’s USDC and Tether’s USDT are the two largest stablecoins in the world, with a combined market capitalization of over $210 billion. However, the two tokens vary significantly in size, with USDT making up approximately $150 billion of that total. From this dominant position, Tether has been able to grow to achieve truly incredible profits, reporting that it earned $13 billion in 2024. This is compared to a mere $156 million for Circle. A portion of this difference comes down to the differences in reserves for the tokens. Read more: Why is Tether 213% bigger than Circle but 8,000% more…