Author: NBTC

YZi Labs, the family office founded by Binance co-founder Changpeng “CZ” Zhao, may open up to external investors, the Financial Times reported on Tuesday. The $10 billion investment company, which was rebranded from Binance Labs, is open to the possibility of converting into an investment fund, head of YZi Labs Ella Zhang said in an interview, according to the report. “There’s always a lot of external investors interested and we will eventually consider turning it into an external-facing fund,” Zhang said. While YZi naturally has considerable nous in Web3 investments, it is “still early” in the fields of artificial intelligence…

Top U.S. lawmakers are preparing to meet with major crypto industry figures this week in a private roundtable that could shape upcoming policy decisions. Summary Sen. Gillibrand to host crypto roundtable with industry leaders on Oct. 22. Participants include executives from Coinbase, Ripple, Chainlink, and Uniswap. Meeting follows backlash over a leaked DeFi proposal and stalled negotiations. Pro-crypto Senate Democrats will meet with leading crypto executives on Oct. 22 to discuss stalled digital asset legislation and the future of DeFi regulation. According to an Oct. 20 post on X by Crypto in America host Eleanor Terrett, the roundtable, led by…

Boerse Stuttgart Digital, the leading European provider of cryptocurrency infrastructure, strengthens its presence in the German market through a new and significant partnership with DekaBank. The goal is ambitious: to develop a crypto offering aimed at retail clients of the German Savings Banks (Sparkassen), thereby expanding access to cryptocurrencies for an increasingly wide audience of private investors. Boerse Stuttgart Digital x DekaBank: a tailored crypto offering for the retail segment Comprehensive Coverage of the Value Chain The shared values at the foundation of the partnership A solid infrastructure for the Sparkassen From Institutional Clients to Retail: A Natural Evolution Simple…

Ethereum (ETH) is gaining the attention of whales and institutional investors after the cryptocurrency market suffered a massive price drop. Insights from Lookonchain, an on-chain analytical platform, indicate that there have been purchases from large holders despite the market crash. Surge in Ethereum volume signals growing investor confidence Notably, two new wallets belonging to BitMine, a large mining firm, withdrew 33,323 ETH valued at $126.4 million from two exchanges. The 33,323 ETH pulled out from FalconX and Kraken to private wallets suggests that there are plans to hold the asset long-term. Such a development amid a price crash indicates a…

Confusion swept through Binance Wallet users earlier today after social media platforms reported that wallet balances were abruptly showing $0. Binance’s web and mobile apps both showed missing funds for a few minutes, raising concerns about a potential outage or backend issue. Users have shared screenshots of their wallets, which are completely empty of any token balances, transaction histories or even DeFi or NFT data. Many believed that the problem was widespread, as some traders were unable to process transfers or confirm their holdings. Additionally, a number of users reported that the browser-based portfolio view on Binance did not load,…

This week, Ethereum ETFs had a net withdrawal of $175 million, revealing growing unease from investors within the altcoin sector. The broader cryptocurrency market has exhibited volatilit. However, the deviation experienced here with fund flows for Ethereum versus Bitcoin indicates a shift in sentiment. Bitcoin ETFs only experienced outflows of $4.5 million, which may suggest that institutions are still treating Bitcoin. It is a more favorable investment action overall in uncertain scenarios, compared to Ethereum. Despite adding substantial and positive displays on the network from up-and-coming developments and improvements to various sectors, Ethereum has had challenges producing a positive sentiment…

Fnality, a fintech firm building tokenized versions of major currencies collateralized by cash held at central banks, has raised $136 million in a Series C round to expand its blockchain-based wholesale payment systems, the London-based firm said Tuesday. The investment was led by WisdomTree, Bank of America, Citi, KBC Group, Temasek and Tradeweb, with existing backers including Goldman Sachs, UBS and Barclays also participating. Fnality raised $95 million in 2023, a round led by Goldman and BNP Paribas. The firm’s settlement infrastructure runs on distributed ledger technology and allows sterling payments to be processed on-chain with central bank money. The…

Bybit will enable traders to use the uMint tokenized fund, launched by UBS, as trading collateral. Summary Crypto exchange Bybit partnered with the DigiFT tokenization platform, which manages uMint Bybit will enable traders to use the uMINT tokenized fund by UBS as trading collateral The partnership is part of a broader trend of integration between crypto and tradFi Traditional finance and the crypto space continue to converge. On Monday, Oct. 13, Bybit, the second-largest crypto exchange by trading volume, announced the integration of the uMint tokenized fund. Bybit users will be able to use the fund, launched by the global…

The gas fees of Ethereum are at historic lows after the Dencun update, but they remain subject to variations related to network congestion and Layer 2 activity. What is the Ethereum gas fee and how does it work Ethereum Gas Fees Today: Record Decline in Numbers Why Ethereum Gas Fees Vary: Key Factors When to Use Ethereum Optimizing Gas Fees for Developers and Users Analysis: Ethereum Cheaper but Still Sensitive to Demand Key Points The gas fee of Ethereum measures the computational cost of each operation on the network. After the Dencun update, the average fees plummeted by 95%. Transactions…

Bitcoin and Ethereum exchange-traded funds suffered a $439 million blow in total on Monday, wiping out much of last week’s inflows as investors repositioned around the Federal Reserve’s rate cut and braced for upcoming inflation data. Bitcoin ETFs led the exodus with $363.1 million in outflows, led by Fidelity’s FBTC shedding $276.7 million and ARK 21Shares’ ARKB losing $52.3 million, according to Farside Investors data. Meanwhile, Ethereum funds recorded $76 million in redemptions, led by Fidelity’s FETH hemorrhaging $33.1 million, followed by Bitwise’s ETHW at $22.3 million and BlackRock’s ETHA at $15.1 million. Onchain analyst Ali Martinez told Decrypt that…