Author: NBTC
Ripple Labs is scheduled to unlock 1 billion XRP, worth approximately $2.1 billion at press time, on May 1, drastically increasing the number of tokens in circulation. Though the move, at face value, might appear inflationary and likely to drive the cryptocurrency’s price down, selling is, judging by previous such moves, likely unnecessary. Specifically, the massive unlock is part of Ripple’s long-established escrow system that sees the release of a number of XRP at the beginning of each month that is followed by allocation of a portion to operational and other uses, and relocking of the remaining – usually the…
The U.S. Securities and Exchange Commission has long been the world’s most influential financial regulator, helping to ensure our capital markets are the deepest, fairest, and most accessible in the world. But its continued relevance will depend on whether it can do more than merely respond to innovation — it must proactively foster it. For nearly a century, the SEC has adapted to evolving markets, new technologies and greater retail participation. In its best moments, the agency has embraced innovation in service of transparency, investor protection, and capital formation. But in recent years, it has strayed from that legacy —…
This is a segment from The Drop newsletter. To read full editions, subscribe. Immutable co-founder Robbie Ferguson wrote on Tuesday morning: “Tomorrow we announce the outcome of a multibillion dollar partnership that’s been in the works for 2+ years.” While we didn’t hear anything from Immutable by publication time, it could be about their game with Ubisoft. Immutable’s partnership with Ubisoft’s Strategic Innovation Lab was first announced in November 2023. During an on-record interview at the Game Developers Conference in March, Immutable Chief Studio Officer Justin Hulog told Blockworks that he has been “working on co-developing a game with Ubisoft…
Nearly three years after Vitalik Buterin mocked his Stock-to-Flow model, anonymous analyst PlanB hit back, calling Ethereum a “centralized premined shitcoin.” PlanB, the anonymous analyst behind Bitcoin’s (BTC) Stock-to-Flow model, took aim at Ethereum (ETH) in a post on X, saying the project is looking worse than ever and arguing that centralized, premined coins like ETH— with proof-of-stake instead of proof-of-work and a flexible supply schedule — are harmful to the space and deserve to be mocked. Ethereum is really not looking good nowI know it’s impolite to gloat and all that, but I think shitcoins like ETH, that are…
Kyrgyzstan President Sadyr Japarov took his country a step closer to issuing its own central bank digital currency Thursday, signing legislation that gives the “digital som” legal status. The central Asian country is still deciding whether or not to issue a CBDC, but Thursday’s amendments to the Constitutional Law of the Kyrgyz Republic ensures that the digital som will be treated as legal tender if the central bank goes ahead with issuing a CBDC. “The purpose of the Constitutional Law is to launch a pilot project of a prototype of a national digital currency, the ‘digital som,’ as well as…
Bittensor’s (TAO) subnet ecosystem continues to capture attention with its impressive performance amidst broader market volatility. The market cap has shown substantial growth. Additionally, the total number of subnets has increased threefold over the past year. At present, there are 95 subnets on the network. Interestingly, the top three subnet tokens—Chutes (SN 64), Gradients (SN 56), and Targon (SN 4)—have posted strong monthly gains. While the momentum has slowed recently, the tokens’ fundamentals and community support remain important factors for consideration. Chutes Chutes is a serverless AI compute subnet on Bittensor. The platform offers tools for deploying AI models directly…
Crypto investment firm Unicoin is gearing up for a courtroom clash with Wall Street’s top cop, as the Securities and Exchange Commission has signaled plans to press ahead with its pursuit of the Miami-based company, Decrypt has learned. According to co-founder Alex Konanykhin, the SEC’s Division of Enforcement gave Unicoin until April 18 to enter into settlement talks over allegations that the company knowingly violated both registration and antifraud provisions of federal securities law. That deadline has now passed, and Konanykhin says he has no intention of settling, vowing instead to fight the claims in court. “I fully intend to…
SoonChain, a leading L2 blockchain integrating gaming with AI technology for scalable and seamless solutions, has announced an exclusive collaboration with Klink Finance, a well-known cryptocurrency wealth generation firm. The partnership focuses on revolutionizing the Web3 sector with the integration of AI-led gaming with cutting-edge investment tools. The platform revealed this initiative in a recent X post. 🚨 Strategic Partnership Announcement 🚨We’re excited to unveil a strategic partnership between @soonchain_ai and @klinkfinance AI-powered Web3 gaming with the world’s #1 crypto wealth creation platform! 🤝🟦 Klink Finance and SoonChain are merging Web3 gaming with crypto… pic.twitter.com/vkg2jfXsoD — SoonChain 🟦 Testnet🔛 (@soonchain_ai)…
Steve Eisman says he’s taking a wait-and-see approach to the stock market right now. In a new interview with CNBC, the famous investor notes he’s dialed down the risk in his personal portfolio. “I’m waiting. I think we’re going to have volatility for quite a while. The Trump Administration has set up a situation where they’re going to be negotiating with multiple countries on multiple issues. It’s not going to take a couple of weeks, it’s going to take a few months, so I think, for the time being, volatility’s going to be here for a while.” Eisman, who’s known…
CryptoKitties creator Dapper Labs is set to launch six “Meowcoins” on Flow on Wednesday, with a seventh coin coming in a week’s time—and they’ll all feed into each other through a new gameplay loop for the firm’s Telegram game. To kick-start the new era, players of the two previous seasons of Telegram game CryptoKitties: All The Zen will receive an airdrop of some of these tokens on Wednesday. Releasing seven tokens, rather than one, is unusual in the world of Telegram gaming. But even single gaming tokens haven’t fared well of late. After attracting 300 million players last year, Hamster…