Author: NBTC
SG Forge, the crypto and blockchain-dedicated arm of Société Générale, one of Europe’s largest financial institutions, will soon launch a dollar-backed stablecoin on Ethereum, The Big Whale reported Tuesday, citing sources with knowledge of the matter. The move would make Société Générale the first global banking group to issue a dollar stablecoin on a public blockchain. According to the report, SG Forge also plans to expand the stablecoin to other networks, including Solana, after the initial launch. As of now, no major global banking group has yet widely issued a US dollar stablecoin on a public blockchain. JPMorgan Chase has…
This is a segment from the Lightspeed newsletter. To read full editions, subscribe. Continuing a string of recent hires, Jito Foundation has appointed Nick Almond as its head of governance, Lightspeed has learned exclusively. An academic by training, Almond comes to Jito following a stint as CEO of the DAO-focused R&D shop Factory Labs. In comments shared with me, Almond said he hopes to steer Jito’s DAO clear of some common pitfalls that have befallen these organizations by “cautiously expanding” what the DAO tries to do. Jito is Solana’s most important infrastructure project. Its Jito-Solana client, which adds revenue-boosting MEV…
A multi-year war between XRP promoters and Bitcoin maximalists has boiled over into another public fight between Ripple CEO Brad Garlinghouse and Senator Cynthia Lummis, chair of the Senate’s Digital Assets Subcommittee. Yesterday, Garlinghouse admitted that Lummis canceled and refused to reschedule their meeting in Washington, DC. Garlinghouse was on Capitol Hill to advocate for XRP-friendly stablecoins and market structure bills. Lummis, on the other hand, prefers bitcoin (BTC) and other stablecoins that compete with Ripple’s RLUSD. The incident wasn’t merely a logistical hiccup. Underlying ideological and financial tensions have famously divided the Ripple and Bitcoin communities for years. Garlinghouse…
Major news is shaking up the digital asset space in Latin America! If you’re in Brazil and involved with cryptocurrencies, you’ve likely heard the buzz. The integration of Binance Pay with Brazil’s ubiquitous instant payment system, PIX, marks a significant milestone for the adoption of digital assets in the country. This development, announced by Binance Exchange CEO Richard Teng, connects the world of crypto directly to the everyday financial lives of millions of Brazilians, making it easier than ever to engage with digital currencies using local currency. What is the Binance Pay and PIX Brazil Integration? The core of this…
The Bitcoin MVRV ratio has now dropped to its long-term mean value, triggering bullish sentiments amid favorable historical precedence. Notably, Bitcoin’s recent price activity has involved short-term uncertainty following an impressive rally from late April. After surging by nearly 16% from $84,466 on April 19 to a local high of $97,938 on May 2, the flagship crypto asset has entered a period of stagnation. Over the past two trading days, Bitcoin has seen back-to-back intraday losses, and early market signals suggest a potential third consecutive dip as of today, with the price currently hovering around $93,901. Despite this lull, on-chain…
Ethereum’s recent price movements have caught the attention of the crypto market, not just for their strength but for what they reveal beneath the surface. Over the past several weeks, major Ethereum holders known as whales have significantly increased their positions, indicating strong conviction in the asset’s future. These whales, each holding between 10,000 and 100,000 ETH, have been aggressively accumulating since mid-April, just as Ethereum’s price began a steep climb. This pattern, alongside key technical signals, is raising expectations of a longer-term bullish phase. Whale Accumulation Aligns with Price Breakouts According to analyst Crypto Rover, large Ethereum wallets added…
Cryptocurrency and other financial markets are assessing the potential implications of the Federal Reserve’s potential policy moves. According to CNBC, Atlanta Federal Reserve President Raphael Bostic stated he is leaning toward just one interest rate cut this year as the central bank tries to combine limiting inflation risks with preventing an economic downturn. In March, the Federal Reserve released projections indicating two quarter-point rate cuts in 2025. Nevertheless, Bostic stated Monday that the tariffs were higher than the central bank had anticipated at the beginning of the year. Historically, interest rate cuts tend to be bullish for risk assets, including…
Key Insights: Ondo crypto and PayPal’s PYUSD are now integrated as liquidity complements. The linkup is advancing the role of PYUSD in the growing tokenization ecosystem. Ondo Finance price is down as of writing, but with a good prospect of rebounding. ONDO Finance can now entertain instant conversions between Ondo Short-Term US Government Treasuries (OUSG) and PayPal’s USD-pegged stablecoin (PYUSD). This marks another expansion of the PYUSD utility, particularly as a liquidity source for Real-world Assets (RWAs). Besides, it also fueled optimism over a potential rally in ONDO price due to this development. ONDO Finance & PYUSD Partnership: Focus On…
Hailey Welch said she was cleared by the US Securities and Exchange Commission and federal authorities for the crash of the HAWK token. The instant fame of HAWK ended quickly in a rapid crash, costing buyers as much as $50M. Hailey Welch claimed she was cleared by the US Securities and Exchange Commission as well as federal authorities. The creator of the HAWK token previously stated the SEC was done with its investigation, and federal authorities cleared her of responsibility for the HAWK token crash. Welch stated she lacked the knowledge on crypto, and regretted misleading her fans with a…
Circle has officially launched the mainnet for its Circle Payments Network. The CPN will be a new blockchain-based system designed to facilitate real-time cross-border payments and settlements using its stablecoin, USDC (USDC). The CPN is built to support business-to-business payments, cross-border remittances, enterprise treasury operations, and payroll disbursements. With the launch, Circle aims to modernize the $190 trillion global payments industry, which it describes as fragmented and slow, according to the company. Current CPN participants include Alfred Pay, Tazapay, Conduit, and RedotPay — companies that operate across Latin America and Asia. Circle says this initial group is helping open USDC…