Author: NBTC
Two artists have filed a lawsuit against the U.S. SEC in a Louisiana court to get a declaratory judgement that would protect their forthcoming NFT projects from regulatory action from the SEC. They say the SEC has set a concerning precedent of potential regulatory overreach by filing charges against two other NFT art projects. Two American artists filed suit against the U.S. Securities and Exchange Commission (SEC) on Monday, seeking a declaratory judgment from a Louisiana court that their forthcoming non-fungible token (NFT) projects would not violate U.S. securities laws. The scathing complaint, filed in the jurisdiction of the notoriously…
Brevan Howard’s crypto hedge fund has launched a new unit that will help companies generate more returns on their crypto treasuries. Brevan Howard Asset Management’s crypto-focused branch, Brevan Howard Digital, has unveiled a new unit aimed at enhancing returns for companies holding crypto as a reserve asset. According to a Financial News report, the new unit called BH Digital Solutions will be led by Chris Rayner-Cook, former head of trading and financing at Coinbase. The unit’s initial focus will be on blockchain and crypto mining companies, helping them generate increased returns from their holdings. The launch comes as BH Digital,…
Following the assassination attempt against US Presidential candidate Donald Trump last weekend, Bitcoin and altcoin prices started to rise. While BTC rose above $65,000, the memecoin named Trump also increased by more than 80%. In addition to the unsuccessful assassination attempt against Trump, Elon Musk’s open support for Trump also played an important role in this rise in the memecoin named Trump (MAGA). While MAGA became the most trending altcoin among cryptocurrencies thanks to Elon Musk’s support for Trump, Santiment stated that he expects large fluctuations in memecoins associated with Trump to continue as the US elections approach. “MAGA is…
The past month saw expansion of DEXs trading, driven both by bots and human orders chasing the hottest meme tokens. As most coins and tokens recovered, funds flowed into top Ethereum and Solana DEXs. Uniswap and Raydium are the apps to show an inflow of new users in July, while other decentralized hubs still relied on returning users. All DeFi protocols showed expanding activity, but the top Ethereum and Solana exchanges saw the biggest inflow of first-time users. Uniswap is stable in terms of value locked, carrying $4.64B on Ethereum, and on smaller pools from more than 10 other blockchains.…
Five years ago, Brian Frye set an elaborate trap. Now the law professor is teaming up with a singer-songwriter to finally spring it on the SEC in a novel lawsuit—and in the process, prevent the regulator from ever coming after NFT art projects again. Earlier this week, Frye and musician Jonathan Mann filed a federal lawsuit against the U.S. Securities and Exchange Commission that seeks to finally force the agency to articulate its position on the legal status of NFTs. Over and again, the SEC has sued cherry-picked NFT projects it says qualify as unregistered securities—but never once has the…
The Qatar Central Bank (QCB) has published a full explanation of its CBDC (Central Bank Digital Currency) project on its website. The central bank stated that the project will start before the end of 2024, noting that it will be a wholesale CBDC project utilizing AI (Artificial Intelligence). The project will not be using real Qatari Riyals but simulations. When QCB announced in June 2024 that it had completed the infrastructure for a CBDC and would commence testing for settlement of large payments with local banks, no further information was provided. Today, however, the Qatar Central Bank has offered a…
XRP whales have made notable transactions amid a notable price dip. However, these XRP transfers are expected to give a boost to the price as it is a major bullish development for the coin. Whale tracking service Whale Alert has notified the community of two notable transactions earlier today. According to the details, a whale transferred 22 million XRP from South Korean crypto exchange Upbit to an unknown wallet. It is estimated to be worth around $12 million based on the current price of the coin. The second transfer occurred almost four hours later. This time, the XRP whale sent…
Fuse Network has announced that the Consensus Contract on the Flash Testnet network is now live, as per the latest updates shared with Finbold on July 29. Dedicated to advancing the network’s capabilities, stability, and decentralization, Fuse is likewise introducing several key updates, including a new maximum stake requirement for validators, a deflationary token model, and the integration of Polygon’s Chain Development Kit (CDK). zkEVM Layer 2 Network The transition to a ZK-powered Layer-2 (L2) network using Polygon CDK is expected to boost the network’s scalability, security, and interoperability. As Fuse progresses towards zkEVM architecture, its mainnet launch is expedited…
Short-term holder wallets are in the red and may liquidate near their breakeven level at $65,000. Long-term holder wallets, with average cost of less than $20,000, are incentivized to hold or boost their coin stash. As bitcoin (BTC) looks to recover from the July loss, new challenges loom, with onchain data suggesting a potential resistance at $65,000. The leading cryptocurrency by market value traded nearly 1% higher at $63,200 as of writing, looking to regain some poise after ending June with a 7% loss. June’s drop, which reversed May’s upswing, mainly occurred due to miner selling and concerns that ETF…
Compound Protocol is considering a major shift in its revenue distribution following a recent governance fiasco. The protocol plans to introduce a fee switch that will allocate 30% of protocol reserves to staked COMP token holders through a new product called stCOMP. The proposal, led by Compound head of growth Bryan Colligan, aims to enhance the financial utility and attractiveness of COMP tokens by providing yield-bearing opportunities.Like all DeFi lending protocols, Compound’s revenues are generated from fees charged to loan borrowers. A portion of these fee revenues are typically paid to liquidity providers to incentivize protocol liquidity. However, COMP token…