Author: NBTC
Korean cryptocurrency exchanges Dunamu and Bithumb shares have surged dramatically this year, contrasting sharply with Coinone’s decision to liquidate crypto holdings. With the bull market this year, exchanges are experiencing divergent fortunes as market leaders see soaring valuations while smaller players face financial strain. Upbit, Bithumb Drive Exchange Valuations Higher Dunamu, which operates Upbit, has seen its private stock price climb 33% year-to-date to 240,000 won ($173). The company’s estimated market capitalization now stands at 8.26 trillion won ($5.96 billion). Bithumb has performed even more impressively with a 131% surge to 238,000 won ($172). Both exchanges reached peak valuations on…
According to Cointelegraph, Ethena’s synthetic dollar, USDe, has reached an impressive $5.7 billion in total cross-chain volume. Even more importantly, USDe now ranks third among all synthetic dollar tokens by market capitalization. The Rise of USDe Across Chains Launched as a synthetic stablecoin designed to keep its value steady across blockchains, USDe now moves across 23 different networks through LayerZero. This broad access has helped it gain users quickly, as people can send and use it on many platforms without trouble. Because of this reach, hitting $5.7 billion in cross-chain volume shows more than just strong adoption. It also proves…
Galaxy Digital, the crypto-focused financial services firm founded by Bitcoin bull Michael Novogratz, is cautioning that the fast rise of public companies buying crypto for their balance sheets could potentially make the market “structurally fragile.” In a July 31 research report, the New York-headquartered crypto firm said the rise of Digital Asset Treasury Companies — or DATCOs — is tied to a single trade: raising equity and using the proceeds to purchase Bitcoin or other cryptocurrencies. “When hundreds of firms adopt the same one-directional trade (raise equity, buy crypto, repeat), it can become structurally fragile. A downturn in any of…
Bo Tang, head and assistant director at HKUST, believes that Hong Kong’s stablecoin bill’s strict customer identification requirements could hinder the adoption of those currency-backed digital assets. He also said it could impede Hong Kong’s global digital finance market competitiveness. Hong Kong’s long-awaited Stablecoin Ordinance was established on August 1, making it the first market globally to regulate fiat-referenced stablecoin issuers. Tang said the bill’s know-your-customer (KYC) rules, which require issuers to verify the identity of every holder, oppose the basis of secrecy and privacy. HKMA claims stablecoin requirements mean to prevent illegal activities The Hong Kong Monetary Authority stated…
Exciting developments are unfolding in the cryptocurrency world! Coinbase, a leading global crypto exchange, officially announced its support for dYdX (COSMOSDYDX) on the dYdX native network. This pivotal announcement, shared via X, signifies a major step forward for decentralized finance (DeFi) and enhances accessibility for traders. The crucial Coinbase dYdX support integration promises to bridge the gap between centralized and decentralized trading experiences, offering users more robust and efficient options. What Does Coinbase dYdX Support Mean for Traders? This significant integration means Coinbase users can now directly engage with the dYdX protocol via its dedicated blockchain. This is not just…
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. If you’ve been worried about what the GENIUS Act can inadvertently do to DeFi lending, don’t. Stablecoins are the quiet workhorses of crypto. They’re not flashy, they don’t swing 30% in a day, and they rarely make headlines — unless something goes wrong. But behind the scenes, they power nearly every major function in decentralized finance. Summary Stablecoins are the backbone of crypto, whether borrowing, trading, or providing liquidity, stablecoins enable nearly every major use case, quietly…
In the unpredictable world of cryptocurrency, fortunes can be made and lost in the blink of an eye. For seasoned Hyperliquid trader James Wynn, the recent market movements have led to another significant blow, specifically concerning his PEPE trading losses. This latest setback adds a staggering $1 million to his already substantial record of losses, underscoring the extreme volatility inherent in meme coins and high-leverage trading. Who is James Wynn, and What Are These PEPE Trading Losses? James Wynn is a prominent name within the Hyperliquid trading community, known for engaging in high-stakes cryptocurrency positions. His trading activities often draw…
India’s Income Tax Department has sent notices to 44,057 cryptocurrency traders who it believes failed to report their transactions for the 2025 financial year. In a massive outreach, authorities have warned traders to update their tax filings to avoid further scrutiny, penalties, or even prosecution. High-Tech Push for Crypto Tax Compliance As the government intensifies the scrutiny on crypto transactions using modern technology, including artificial intelligence (AI) and data analytics tools, it has become more difficult for Indian traders to evade. In a recent parliamentary reply, the tax department revealed that the government has collected ₹269.09 crore (approx. $32.2 million)…
Coinbase will start levying a 0.1% fee for conversions of the stablecoin USDC to US dollars for net conversions above $5 million within 30 days, as the crypto exchange has recently struggled with its earnings. Starting Aug. 13, Coinbase will charge the fee on USDC (USDC) to US dollar conversions exceeding a net of $5 million on a 30-day rolling period — with the net calculated by deducting USDC purchases from USDC sales, according to a notice shared online. It comes after Coinbase’s second-quarter results, shared last week, missed on revenue and earnings, sending its shares tumbling. However, its stablecoin-related…
In the fast-paced world of cryptocurrency, where fortunes can be made and lost in the blink of an eye, even the most prominent figures are not immune to market fluctuations. Recently, attention has turned to Jeffrey Huang, a Taiwanese singer and influential figure in the NFT space, better known as Machi Big Brother. Reports indicate that Jeffrey Huang crypto positions are facing a significant challenge, highlighting the inherent volatility of digital assets. Who is Jeffrey Huang and Why Does His Crypto Matter? Jeffrey Huang, or Machi Big Brother, is not just a musician; he’s a well-known crypto whale, particularly famous…