Author: NBTC
Justin Sun bailed out Techteryx’s TrueUSD stablecoin after nearly half a billion dollars of its reserves were rendered illiquid, people close to the matter confirmed, and the stablecoin issuersaid in Hong Kong court documents. An excerpt of the writ Techteryx filed in Hong Kong After acquiring TrueUSD from TrueCoin in December 2020, Techteryx appointed First Digital Trust (FDT), a Hong Kong-based fiduciary, to manage its stablecoin reserves. According to documents prepared by U.S. law firm Cahill Gordon & Reindel, FDT was instructed to invest the reserves in the Aria Commodity Finance Fund (Aria CFF), a Cayman Islands-registered vehicle. However, court…
Cardano’s decentralized governance has achieved a significant milestone, with over six billion ADA now delegated to Delegated Representatives (dReps), according to Intersect, a member-based organization for the Cardano ecosystem. This marks a significant step toward a more decentralized and community-driven decision-making process. According to Intersect, over six billion ADA have now been delegated to dReps, which includes 2.6 billion ADA delegated to auto-abstain. A total of 779 dReps have registered, representing 27% of the staked supply. Of those, 193 have voted on the current Constitution Update governance action. Over ₳6 billion has now been delegated to DReps!(This total includes ₳2.6…
Calling it a “big win for crypto,” the White House crypto czar cheered regulators’ decision to scrap debanking rules that stifled lawful digital asset innovation. Crypto Scores Major Victory as FDIC Removes Reputational Risk Rule Federal officials are shifting away from a controversial banking oversight tool after sustained criticism from lawmakers and the crypto industry. White House Crypto Czar David Sacks hailed a regulatory shift on March 25, highlighting that the Federal Deposit Insurance Corporation (FDIC) will no longer use “reputational risk” as a criterion in bank supervision. The move aligns with guidance from the U.S. Office of the Comptroller…
The stablecoin market is seeing new players make bold moves, signaling an intense shift in the competitive landscape. As the demand for stable and secure digital assets grows, new entrants like Sam Altman’s Worldcoin and former President Donald Trump’s Liberty coin are preparing to redefine the space. These projects aim to offer alternative solutions to the existing stablecoins, hoping to win over investors and users looking for more trustworthy and reliable options amidst regulatory scrutiny and market volatility. Stablecoins, digital currencies typically pegged to stable assets like the U.S. dollar, have become essential in the world of cryptocurrency trading, acting…
A major SOL transfer in recent hours has caught the attention of the crypto community. The transaction, which occurred between two unknown wallets, saw 1,190,645 SOL moved at a go, sparking speculation. According to Blockchain data tracker Whale Alert, “1,190,645 SOL worth $242,492,804 was transferred from unknown wallet to unknown wallet.” 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 1,190,645 #SOL (242,492,804 USD) transferred from unknown wallet to unknown wallethttps://t.co/HHkhSnaEpk — Whale Alert (@whale_alert) February 4, 2025 Although the exact reason for the move remains unknown as well as the identity of the wallets, several explanations might be…
South Africa’s financial services industry watchdog has issued a warning against unlicensed crypto trading firms accused of soliciting public funds while promising unrealistic returns of up to $542 per day. Unlicensed Crypto Firms Use Celebrity Names to Promote Offerings South Africa’s financial services industry watchdog, the Financial Sector Conduct Authority (FSCA), has issued a public warning regarding two unlicensed crypto firms, Afriinvest and Mutualwealth. The FSCA alleges that the two entities are soliciting funds from the public for investment purposes while promising unrealistic returns. The warning stems from reports that Afriinvest and Mutualwealth are guaranteeing returns as high as $542…
The last quarter of 2024 was a positive time for BTC miners, says H.C. Wainwright analysts, with potential volatility ahead. Bitcoin miners saw significant growth in Q4 2024 as Bitcoin (BTC) crossed $100,000 for the first time, driven by increased institutional adoption and optimism following Donald Trump’s pro-crypto presidential election victory, according to an H.C. Wainwright analyst speaking with crypto.news. BTC peaked at $106,144 in mid-December before closing the quarter at around $93,400, marking a 48% gain from Q3. The price surge, coupled with record-breaking ETF inflows, contributed to robust earnings for miners. Spot Bitcoin ETFs attracted $16.7 billion in…
Fidelity Investments rolled out a retirement plan that invests directly in crypto on Thursday, giving investors another method for tapping this asset class. The brokerage firm offers bitcoin (BTC), ethereum (ETH) and Litecoin (LTC) to any U.S. citizen over the age of 18. The assets are custodied by Fidelity and held in a cold wallet. The crypto IRA product has no fees, and customers can invest in a Roth IRA, traditional IRA or rollover IRA, according to Fidelity’s website. The new product comes as financial advisors are increasingly offering crypto to their clients. A survey by TMX Vetta Fi recently…
A rather rare anomaly recently stunned the on-chain realm behind the scenes of Shiba Inu token SHIB. Thus, as became known thanks to data from IntoTheBlock, the number of outflows from the wallets of meme cryptocurrency whales in the last 24 hours totaled 6.51 trillion SHIB. Considering that the day before, this figure was 967.25 billion SHIB, we can say that the increase is worth 673% in the course of just one day. What is even more amazing is that the number of inflows to these addresses amounted to the same amount of about 6.51 trillion SHIB. Such an event…
Japan’s Financial Services Agency (FSA) is set to amend the Financial Instruments and Exchange Act to officially classify cryptocurrency assets as financial products and introduce new insider trading regulations. The proposed changes aim to curb unfair trading practices and improve investor protection in the rapidly evolving cryptocurrency market. According to the FSA, the revised legislation will prohibit individuals from trading crypto assets based on undisclosed inside information, mirroring regulations that apply to traditional financial markets. The move reflects the growing recognition of cryptocurrencies as mainstream investment vehicles and aims to strengthen oversight amid growing market participation. In order to develop…