Author: NBTC

Firelight is preparing to turn $XRP-linked assets into capital that backs protection for DeFi users, offering holders a new source of yield in exchange for putting their collateral at risk. The Flare-based protocol lets holders deposit FXRP, an $XRP-linked asset on Flare, into a vault and receive stXRP representing their position. Firelight’s next phase would use that deposited FXRP to back coverage sold to DeFi protocols. Customers pay premiums for the protection, and those payments generate income for the holders supplying the collateral. The trade-off is that getting the collateral back could take much longer. Firelight’s withdrawal rules say its…

South Korea’s potentially taxable cryptocurrency activity reached approximately $10.9 billion in 2023, placing the country 11th among nations analyzed in a recent Chainalysis report. The data, released on August 31, provides a detailed look at the scale of crypto transactions that could fall under the country’s upcoming taxation framework. Breakdown of South Korea’s Taxable Crypto Activity According to the Chainalysis “Crypto Tax Report,” which examined on-chain data from six major blockchains — Bitcoin, Ethereum, Solana, Tron, BNB Smart Chain, and Base — South Korea’s total potentially taxable activity comprised $2.0 billion in income, $3.2 billion in trading gains, and $5.6…

Cryptocurrencies are the latest currency of the world and widely accepted due to their smart way of use. According to CoinMarketCap, Pump.fun ($PUMP) surged 18.68% to become the weekly top performer among Altcoins in the crypto market. $PUMP trades at $2.00254 with a volume of $96531195. Other projects in the list of top performers are given as: LayerZero ($ZRO), Bitcoin SV ($BSV), Curve DAO Token ($CRV), Lighter ($LIT), Zcash ($ZEC), Cosmos ($ATOM), Aerodrome Finance ($AERO), $OKB ($OKB), and Mantle ($MNT), which show an upward trend towards growth. Similarly, $ZRO is in the runner-up position with a 16.94% price increase and…

The word “CLARITY” has been doing rounds on Crypto Twitter for months, one senator promising it’s finally coming, the next going live to declare it dead on arrival. Somewhere between “most important crypto bill in history” and “dead on arrival,” the September 15 deadline is closing in fast. Adrian Wall, Managing Director at the Digital Sovereignty Alliance, in an interview with Coinpedia, explained that the September 15 vote is a cloture motion on the motion to proceed, requiring 60 votes to advance, not final passage. Clearing it would open the bill to floor debate and amendments. Failing it would halt…

Seven Predictions Show How Social Trading Could Reshape Crypto Social trading applications increasingly combine market data, public performance records, discussions, and trade execution within unified interfaces. Ryan Watkins, co-founder of crypto-focused hedge fund Syncracy Capital, placed that trend at the center of seven predictions shared in an Aug. 31 post on X. The forecasts envision a solo trader displaying nine-figure results, profit-and-loss leaders gaining celebrity followings, and online groups controlling more capital than institutional crypto funds. The co-founder also predicted: “The top social finance creators will make money from rewards that rivals top social media influencers.” Watkins had outlined related…

A Bitcoin wallet that had been steadily accumulating the cryptocurrency over the past six years moved 800 $BTC, valued at approximately $52.2 million, to Cumberland, a prominent crypto market maker and over-the-counter (OTC) trading platform, according to onchain analytics firm Onchain Lens. The transfer occurred about one hour ago and is typically interpreted as a potential selling activity. Whale Activity and Market Implications Onchain Lens reported that the whale externally moved a total of 2,000 $BTC worth about $130 million today. This includes the transfer to Cumberland and an additional 1,200 $BTC, worth roughly $78.3 million, sent to a new…

Aave V4 lenders supplying wrapped Ether (WETH), $USDC or $USDT to its Core liquidity Hub on Ethereum would receive a bad-debt backstop under a Sept. 11 proposal from TokenLogic. The Umbrella plan would put Aave’s DAO first in absorbing losses, followed by volunteer underwriters, while limiting this initial coverage to those three lending markets. The proposed underwriting targets are 800 $ETH for Core WETH, 400,000 $USDC for Core $USDC and 400,000 $USDT for Core $USDT. TokenLogic sized them for six to eight weeks of expected loan growth. They are targets for a proposed configuration, not balances already committed to protecting…

Pixelmon has ended all game development and cut its gaming team after a three-week publisher-led test failed to produce results strong enough to secure a long-term commercial offer. Pixelmon said in an announcement on its official Discord that external publishers had spent their own marketing budgets on its games over the past three weeks, using their tools to study player acquisition and retention. The publishers did not reject the games outright, but the results were not strong enough for them to make a longer-term offer. Instead, the publishers asked Pixelmon to polish the game further and run another test within…

Tether CEO on Tokenized Deposits: “The Emperor Has No Clothes” The debate between several representations of onchain fiat money and the advantages they offer users is raging. Paolo Ardoino criticized recent statements by Pablo Hernandez de Cos, the General Manager of the Bank for International Settlements (BIS), who stressed that stablecoins are not an effective substitute for fiat money as they face several issues. These include poor redeemability, supply issues, interoperability problems, and facilitation of crime. De Cos instead promoted tokenized bank deposits as a “more direct path to harness ​tokenisation while preserving the monetary system’s foundations.” Ardoino stressed that…

Grayscale has withdrawn its registration statement for a planned spot Cardano ETF, ending its immediate push to launch a dedicated $ADA investment product in the United States. In a filing with the U.S. SEC on August 7, Grayscale Investments Sponsors, LLC requested permission to withdraw the Form S-1 registration statement for the proposed Grayscale Cardano Trust ETF. The asset manager explained that it no longer intends to proceed with the planned distribution of shares registered under the filing. Notably, Grayscale confirmed that the SEC had not declared the registration statement effective. Furthermore, the company said it had neither issued nor…