Author: NBTC

Excitable XRP fans amplified fake news about a powerful ruling that US district judge Analisa Torres was supposed to make today. According to one tweet that earned over 1,000 likes and tens of thousands of impressions, Torres’ ​​final court sign-off is supposed to arrive on Monday to permanently settle SEC v. Ripple and allow the XRP price to “fly to $5 in no time.” Copycat posts did similarly outrageous numbers as the XRP Army eagerly awaited “a historic step that would end years of legal battle and open a new era for Ripple.” Unfortunately, Torres’ signature won’t catalyze a rally…

By Omkar Godbole (All times ET unless indicated otherwise) Bitcoin’s Asian session bounce from $117,500 ran out of steam near $119,200 during European hours, extending two weeks of directionless trading. The CoinDesk 20 (CD20) Index traded 1.4% lower over 24 hours, with the broader CD80 gauge reporting a 4.6% decline, indicating pronounced weakness in altcoins. Against the background of a flat BTC market, the awakening of long-dormant bitcoin whale wallets is raising concerns about potential profit-taking by seasoned investors. According to Whale Alert, an address that was dormant for over 12 years moved 343 BTC in early Asian hours. Meanwhile,…

The planned roundtable across the country will involve crypto projects with at most 10 employees and less than 2 years old. The U.S. SEC has made deliberate efforts to provide clear crypto regulations that foster innovation and consumer protection. The United States Securities and Exchange Commission (SEC) has announced a countrywide initiative to meet with more crypto stakeholders. The SEC announced on Monday that its Crypto Task Force, led by Commissioner Hester Peirce, will host a series of roundtables, with small firms in different cities. According to the announcement, the SEC’s Crypto Task Force will collect views from small firms…

Nick Timiraos, a Wall Street Journal reporter known as the FED spokesperson, shared his predictions for the July interest rate decision to be announced by the US Federal Reserve (FED) tomorrow. According to Nick Timiraos, the Fed will not cut interest rates tomorrow. “The Fed is Not Ready!” Nick Timiraos said the Fed is not ready to cut interest rates this week, citing internal divisions. Timiraos said authorities would eventually continue with interest rate cuts, but were not ready to do so this week. Timiraos said Fed officials agreed to postpone the reductions due to inflation concerns stemming from the…

In a rather surprising development, the SEC issued a waiver allowing Ripple to sell securities to private investors. This directly contravenes Judge Torres’ rulings in the XRP case’s lengthy cross-appeals process. Legal experts seemed dumbfounded by the move, but acknowledged that there isn’t a clear way to stop it. Ripple will probably have a new revenue stream, yet this could undermine the legal system altogether. Did the SEC Fulfill Ripple’s Desires? Over the last few months, Ripple and the SEC have been locked in the appeals process of their landmark legal battle. Although both parties dropped the case itself in…

S&P Global Ratings has assigned a B- issuer credit rating to Sky Protocol, formerly known as Maker Protocol, marking the first time a major credit rating agency has issued a rating for a decentralized finance (DeFi) platform. The rating is part of S&P’s ongoing assessment of stablecoin issuers, which began in 2023 to evaluate their ability to maintain a stable value relative to fiat currencies. The review covers the creditworthiness of Sky’s liabilities, the USDS (USDS) and DAI (DAI) stablecoins and the sUSDS and sDAI savings tokens. Sky Protocol, evaluated for the first time, received a “4” — labeled “constrained”…

Ethereum has resumed its rally, climbing nearly 2% in the last 24 hours to cap an impressive 22% weekly gain. Now just 12% away from its $4,900 all-time high, the move appears to be fueled by a massive accumulation trend among the market’s largest players. Why the big move? This ETH rally is part of a larger market shift. Here’s our report on Bitcoin’s dominance dropping, that has fueled an altcoin market rally led by Ethereum. Whales Love ETH On-chain data reveals a striking accumulation trend that began on July 10. According to blockchain analyst @EmberCN, over 1.1 million ETH,…

Coinbase’s (COIN) partnership with Circle (CRCL) and exposure to Circle’s USDC stablecoin is generating significant financial upside, both through equity appreciation and high-margin revenue streams, according to a new report from Wall Street bank JPMorgan. The total value of Circle-related economics to Coinbase shareholders is estimated at $55 to $60 billion, the bank said, suggesting the market may be underestimating the strategic importance of the USDC ecosystem. The crypto exchange holds 8.5 million shares in Circle, valued at $1.6 billion as of July 25. The larger story, however, lies in USDC-related income, according to the report. In the first quarter…

U.S. Securities and Exchange Commission Chair Paul Atkins has commented on the long-awaited resolution of the legal battle with enterprise blockchain company Ripple. “With this chapter closed, we now have an opportunity to shift our energy from the courtroom to the policy drafting table,” Atkins, a pro-cryptocurrency libertarian, said in a social media post. A four-year legal saga The SEC took Ripple to court back in December 2020 under the leadership of former Chair Jay Clayton. The lawsuit was brought during one of Clayton’s last days on the job. Ripple (as well as CEO Brad Garlinghouse and chairman Chris Larsen)…

Aave, one of the largest decentralized lending protocols, could see its net deposits soar to $100 billion before the end of this year, according to the platform’s founder, Stani Kulechov. In an Aug. 10 post on X, Kulechov explained that the DeFi protocol’s current growth rate could push it to that figure sooner than expected. Antonio Garcia-Martinez, Director of Base Ads at Coinbase, claimed that the $100 billion scale would place Aave among the 35 largest banks in the world and on par with Deutsche Bank. Notably, US Federal Reserve statistics back the comparison, ranking Aave’s deposit volume 41st among…