Author: NBTC
Elon Musk’s personal net worth has declined $150 billion since the abrupt and very public end to his working relationship with President Donald Trump, reports Bloomberg. On December 17, in the midst of Trump’s post-election run-up, Musk’s net worth hit an all-time high of $486 billion. Today, he’s worth $335 billion. Despite a few months working side-by-side with Trump and his administration, their working relationship fell apart this week — sending Musk’s net worth plummeting. Disenchanted with the effectiveness of Musk’s Department of Government Efficiency (DOGE) that the Tesla and SpaceX supremo once claimed would save American taxpayers $2 trillion,…
The US Securities and Exchange Commission has asked prospective Solana ETF issuers to submit amended S-1 forms within the next week, three sources with knowledge of the matter told Blockworks. The agency told issuers it would make comments on the S-1s within 30 days of their submission, two sources added. The SEC asked issuers to update language surrounding in-kind redemptions and how issuers would approach staking, the sources said, adding that the agency appears open to including staking as part of Solana ETFs. One source estimated these updates could put Solana ETFs on track to be approved within three to…
The Federal Reserve — a key regulator of U.S. banking — is about to have a new vice chairman for supervision, Michelle Bowman, who will ultimately guide how the Fed oversees the financial system, possibly including how stablecoin issuers are regulated. After a tight party-line confirmation vote in the Senate approved the Kansas Republican’s nomination 48-46, Bowman, who has already been serving as one of the Fed board’s governors, will now be elevated to one of its leadership roles. The supervision job was created after the 2008 global financial meltdown and is meant to help focus the central bank’s regulatory…
Binance dominates CEX stablecoin reserves and inflows, reflecting deep market trust and consistent institutional activity. Coinbase leads in total reserves, but lacks public Proof-of-Reserves, unlike Binance which provides on-chain transparency. When you want to store large funds in crypto, your choice may not be far from CEX such as Binance or Coinbase. These two names do dominate the centralized crypto exchange industry, especially when it comes to asset reserves and fund inflows. But behind those big numbers, there is another story that is no less important. Transparency vs. Size: Binance and Coinbase Take Different Paths Data from CQ Research shows…
Hotcoin has collaborated with DRX Token, a new project that blends blockchain, the sports apparel industry, NFC technology and community engagement. Both parties are choosing to work together, hoping to support Web3 growth by centering on sports, culture and decentralized technology. 🚨 Partnership Announcement 🚨@HotcoinGlobal 🤝 @DrxToken — Powering the Future of Web3 Sports & CommunityWe’re excited to join forces with DRX, a next-gen cryptocurrency bridging blockchain innovation with Web3, sports, and immersive community experiences🌐From fan… pic.twitter.com/URD8Ssgdih — Hotcoin (@HotcoinGlobal) June 5, 2025 Bridging Cryptocurrency and Sports Apparel DRX Token has made a special ecosystem for its SuperApp, which you…
The hashrate of Bitcoin reached a new all-time high of over 943 EH/s. The increase in mining difficulty has not hampered growth as miners invest in long-term expansion. This slow rise in price and hashrate indicates enormous confidence in the future of Bitcoin. The hashrate of Bitcoin is at an all-time high, indicating that the mining ecosystem of the network is strong once again. According to recent data, the hashrate has exceeded 943 exahashes per second (EH/s), reflecting a rise in computing power employed by miners worldwide. This new record high proves the growing seriousness of the mining activity even…
Pendle Finance’s integration into the Converge ecosystem marks a transformative moment, blending DeFi yield tokenization with institutional-grade TradFi infrastructure. This partnership enables tokenized securities and digital dollar products to benefit from sophisticated yield management strategies previously exclusive to decentralized finance. According to COINOTAG, “Pendle’s move onto Converge could redefine how traditional institutions engage with blockchain-based yield products, offering unprecedented compliance and liquidity.” Pendle Finance joins Converge to bridge DeFi yield tokenization with institutional TradFi, unlocking tokenized securities and digital dollar yield strategies. Pendle Finance and Converge: Bridging DeFi Yield Innovation with Institutional Finance The recent integration of Pendle Finance into…
The NFT market has experienced a strong rally, with sales volume jumping by 37.10% to $144.8 million. According to data from CryptoSlam, this marks the biggest weekly gain in recent months for the sector. The spike coincides with Bitcoin’s (BTC) recent climb to the $105,000 mark. Ethereum (ETH) also had a slight 2.5% increase during the previous seven days. Last week, the total global cryptocurrency market cap increased from $3.28 trillion to $3.29 trillion. Market participation has surged greatly with NFT buyers increasing by 50.56% to 1,061,348, and NFT sellers rising by 8.09% to 38,494. NFT transactions have also grown…
Circle’s $1.1 billion IPO on Thursday reflected Wall Street’s growing interest in stablecoins, but it may also strengthen institutions’ conviction toward Ethereum, analysts told Decrypt. Although Circle issues its USDC stablecoin across more than 40 different networks, more than half of the stablecoin’s circulating supply exists on Ethereum, totaling $36.7 billion, according to crypto data provider DefiLlama. According to Bitwise Senior Investment Strategist Juan Leon, USDC’s concentration on Ethereum is primarily based around the network’s prominence in decentralized finance, or DeFi. As a result, he told Decrypt that Ethereum should benefit more than other networks if USDC’s footprint grows, as…
Pump.fun continues to cash out of the Solana ecosystem after depositing around $20M worth of SOL to Kraken. For the year to date, Pump.fun has already sold an estimated $405M of SOL through exchanges. Pump.fun sent another tranche of SOL to Kraken following its latest sale of 156K SOL at the end of May. This time, the platform deposited 132,180 SOL, valued at $20.87M. Pump.fun continues to cash out roughly every two weeks or even more often while retaining its top spot as a fee producer. The recent deposits to Kraken have surpassed the whole of 2024 when Pump.fun cashed…