Author: NBTC
Stuart Alderoty, Ripple’s chief legal officer, has commented on the recent verdict by the U.S. Securities and Exchange Commission regarding the category of digital assets known as meme coins. He expressed a positive view on the SEC’s decision about this popular type of crypto, in light of the regulatory agency’s other recent steps targeted at ending its war with the crypto world. That war was started by the SEC’s previous chairman, Gary Gensler. Meme coins are collectibles, SEC says In a press release published on Feb. 27, the SEC referred to a meme coin as “a type of crypto asset…
K9 Finance announced that it has received a $200,000 grant from the Google for Startups program. According to the announcement, the grant comes in the form of free access to Google Cloud services, rather than direct cash. With the grant, the K9 development team can access Google Cloud infrastructure, security features, and artificial intelligence (AI) tools at zero cost. In addition to accessing Google Cloud services at zero cost, the team suggested that the grant will strengthen its long-term position by creating opportunities for partnerships, sustainability, and integration. Additionally, it called the grant an opportunity to position K9 Finance as…
A surge of state-level Bitcoin reserve proposals across the U.S. has hit a roadblock, after multiple states rejected bills to invest public funds in the leading crypto. Of the 50 U.S. states, over 20 have introduced or are considering legislation related to Bitcoin reserves or investments in digital assets, but the fate of many of these bills remains uncertain. But over the past few weeks, several states—including Montana, South Dakota, North Dakota, Pennsylvania, and Wyoming—have dealt setbacks to the growing Bitcoin reserve initiative. Montana’s Bitcoin reserve proposal, House Bill 429, faltered following its introduction in late January. The bill sought…
Ripple CLO Stuart Alderoty has broken his silence on the latest categorization of meme coins by the United States Securities and Exchange Commission (SEC). The legal expert agreed wholly with the market regulator, emphasizing that meme coins are not securities. He reiterated that the beauty of the guidance is linked to its simplicity. Non-security case for meme coins According to the Ripple CLO, the question for the market regulator is whether or not something falls under its jurisdiction, not whether it is legal or illegal. He noted that with the commission’s new position, if fraud occurs, other agencies can act,…
The International Monetary Fund (IMF) has approved a $1.4 billion extended arrangement for El Salvador under its Extended Fund Facility, with an immediate disbursement of $113 million available to the country. The 40-month program is expected to attract additional multilateral financial support, creating a combined financing package of over $3.5 billion throughout the program period. The IMF-supported initiative aims to address macroeconomic imbalances and strengthen governance while boosting El Salvador’s growth prospects. The program includes measures to improve the primary balance by 3.5% of GDP over three years, primarily through wage bill rationalization while maintaining priority social and infrastructure spending.…
Shiba Inu (SHIB) has seen a mild price rebound on the daily chart, suggesting the meme coin’s sell-off trend might be over. At the time of writing, the coin jumped by 3.76% in 24 hours to $0.00001476, paring off the losses of the past week to 4.4%. Despite this recovery, a discovery by IntoTheBlock shows the Shiba Inu rebound might be short-lived. SHIB sell wall According to the Shiba Inu profitability chart, the token now has a total of 143.6 trillion SHIB, or 14.58% of the total supply, in profit. More Shiba Inu tokens, or 83.68%, are out of profit…
Olumide Osunkoya has been sentenced to four years in prison for illegally operating cryptocurrency automated teller machines in the United Kingdom. The 46-year-old faced charges related to running crypto ATMs through his company, GidiPlus, with machines installed at multiple locations across the UK. According to authorities, Osunkoya set up a £2.5 million ($3.2 million) crypto ATM business despite being denied registration by the Financial Conduct Authority. The FCA filed charges against him in early September 2024, and he pleaded guilty to six counts on September 30, 2024. On Feb. 28, the court convicted him of unregistered crypto activity, forgery, possession…
Cryptocurrency analyst and trader Jason Pizzino is leaning bullish on Bitcoin (BTC) but with a caveat. In a new video, Pizzino tells his 349,000 YouTube subscribers that Bitcoin possesses more upside potential despite the negative sentiment occasioned by the crypto king falling to a three-month low earlier this week. “…it’s just a countdown timer now for the end of the Bitcoin cycle, which could still have several months to go. So for the untrained ear, it sounds like all doom and gloom but this is basically just preparing for something in the future and I’m looking out here for several…
Ether’s (ETH) 11.5% slide over the past 24 hours has moved the second-largest cryptocurrency closer to a series of mammoth $340 million liquidations on collateralized debt platform MakerDAO. On-chain data shows three MakerDAO positions will be liquidated when the ETH price hits $1,926, $1,842 and $1,793. Each position is worth between $109 million and $126 million. Ether, the token of the Ethereum blockchain, is trading around $2,390 following a market-wide sell-off sparked by waning sentiment and a drop in global equities. Whether the plunge is the trigger for a bear market remains to be seen. Assets have typically slumped as…
Sonic, the first-ever chain extension built on Solana, announced the launch of Mobius mainnet today. As the first Solana Virtual Machine (SVM) chain, Sonic aims to extend Solana’s capabilities, enhancing scalability and providing a high-performance layer for dApp development. Solana’s L1 Sonic launches Mobius mainnet Sonic, a pioneering Solana layer-2 solution, announces the launch of Mobius, its first mainnet iteration. Mobius is set to showcase the opportunities of Solana Virtual Machne for dApps building and to bring Sonic 2025 roadmap’s goals to reality. Sonic SVM Mainnet: Mobius is now live.Infinite continuity of @Solana’s boundaries have kicked off.Enter Mobius Season 1…