Author: NBTC

Crypto traders are getting access to China’s AI stock rush through a route Beijing did not build for them. Instead of buying mainland shares, offshore investors are using perpetual futures tied to Chinese chip companies. The contracts let users to wager on share values without actually holding the shares, and they are traded continuously on cryptocurrency exchanges. Due to this arrangement, a distinct market for names has been established that is difficult for foreign capital to access through regular exchanges. The biggest target is CXMT, a Chinese memory-chip maker due to start trading in Shanghai on Monday. TradeXYZ and Gate.com…

Wells Fargo, the fourth-largest U.S. bank by assets, is preparing to introduce a blockchain-based deposit token service for its corporate and commercial clients this fall, according to an exclusive report from The Wall Street Journal. The initiative marks a significant step in the bank’s digital asset strategy, leveraging its in-house blockchain platform to offer tokenized deposits for 24/7 fund transfers, programmable functions, and streamlined payments. What Are Tokenized Deposits? Tokenized deposits are digital representations of traditional bank deposits that run on a blockchain network. Unlike stablecoins, which are typically backed by reserves held by issuers, tokenized deposits are direct liabilities…

Bitcoin’s protocol rewards miners through block subsidies and transaction fees, leaving holders who sit on coins with no claim on the network’s output, no interest, no dividend, no staking reward of any kind. Wall Street is building income products around it anyway, and two events landing within days of each other show how far that shift has progressed. BlackRock’s iShares Bitcoin Premium Income ETF (BITA) is set to begin trading on Nasdaq on June 16, while in Japan, Metaplanet signed a share-transfer agreement on June 12 to acquire all outstanding shares of Siiibo Securities. The common thread is engineered yield,…

Stablecoins have long been considered the “cash” of cryptocurrency markets, providing a means of trading Bitcoin, transferring liquidity between exchanges, and avoiding volatility without ever leaving the blockchain. Now, traditional consumers are also embracing stablecoins. In the past year alone, stablecoin frameworks have been introduced by regulators. At the same time, stablecoin rails have been integrated by payment giants, and businesses are experimenting with them for cross-border payments. Naturally, this has raised an important question: Are stablecoins replacing banks? Cross-border payment mechanism To put things in perspective, traditional cross-border payments still depend on pre-funded nostro accounts, SWIFT messaging, and correspondent…

Ripple-backed Evernorth Holdings has amended its SEC registration statement after finalizing employment terms for three senior executives as it works toward a Nasdaq listing and a planned $1 billion public $XRP treasury. Evernorth adds three executive agreements to SEC filing Evernorth disclosed new employment agreements for chief legal officer Jessica Jonas, chief business officer Sagar Shah and chief operating officer Meg Nakamura in its latest filing with the U.S. Securities and Exchange Commission. Each executive is eligible for an annual bonus equal to 50% of their base salary. The compensation packages also include restricted stock units and employee benefits, according…

Franklin Templeton Adds to Wall Street’s CLARITY Act Support Financial giant Franklin Templeton, a subsidiary of Franklin Resources Inc. (NYSE: BEN), announced its endorsement of the CLARITY Act on July 27 after reporting $1.79 trillion in assets under management as of June 30. The firm indicated that the CLARITY Act would establish clearer rules for digital assets, helping investors better understand the protections available to them while giving companies greater certainty over which federal regulators oversee their operations. Franklin Templeton added that the legislation would provide the regulatory clarity the crypto industry has long sought. Franklin Resources announced on July…

Withdrawals from crypto exchange BitMart appeared to slow after it announced plans to wind down its operations. On Monday, blockchain analytics account Lookonchain reported that only 58 wallets withdrew about $805,000 in over 24 hours. It added that the exchange had not processed any withdrawals during the latest eight-hour period it tracked. X users also continued to report withdrawal difficulties. One user said they received an email stating that a USDT withdrawal had been completed even though the transaction had not been processed and their account displayed an “on-chain withdrawal freeze.” Another user said a $30 test withdrawal remained pending…

Ondo Finance has expanded the availability of its yield-bearing stablecoin, $USDY, to $BNB Chain. The move brings a tokenized version of U.S. Treasury bills and short-dated government bonds to one of the largest blockchain ecosystems by total value locked, giving $BNB Chain users a regulated avenue for earning yield on dollar-pegged assets. $USDY: A Tokenized Bridge to U.S. Treasuries $USDY is designed to offer holders a stable value of $1 while accruing yield from a diversified portfolio of U.S. Treasuries and bank deposits. Unlike algorithmic stablecoins that rely on complex mechanisms to maintain their peg, $USDY is backed by real-world,…

The new fund offering comes as bitcoin struggles to break out of a bear market, trading around $67,000, down about 23% year to date. IBIT, which debuted in January 2024, has amassed nearly $49 billion in assets, making it the largest spot bitcoin ETF on the market. The fund has seen significant outflows since the beginning of the year, though, amid lower bitcoin prices and excitement around other asset classes, including the highly anticipated initial public offerings (IPOs) of SpaceX (SPCX) and Anthropic. But Jacobs said BlackRock sees several potential audiences for the new fund. One group consists of income-focused…

Pi Network paid more than a million people to verify eighteen million identities across half a billion discrete tasks, then published the exact formula for what it paid them. Every outlet reproduced the formula. Not one converted it to dollars. Here is the number, and what it says about crypto’s largest experiment in distributed human labour. There is a specific kind of number that gets repeated across dozens of articles without anyone stopping to convert it, and Pi Network produced a textbook example this year. The project announced that more than a million verified users had completed over 526 million…