Author: NBTC

Tether executives are reportedly spending large amounts of money on luxurious El Salvador real estate and becoming El Salvadorian citizens. That’s according to local news outlet El Faro, which collected the deeds of properties being bought up by the company’s Chief Financial Officer Giancarlo Devasini, Chief Exec Paolo Ardoino, and Chief Operating Officer Claudia Lagorio. On July 31, 2024, Ardoino and Lagorio reportedly bought two plots of land worth a total of $1.7 million in a luxury golf resort called the Condominio Villanueva Golf Country Club that doubles up as a residential area called El Encanto. Property deeds revealed Ardoino…

Eric Trump flew across the world to headline a cryptocurrency conference in the United Arab Emirates this week and told thousands of enthusiastic attendees that he and his father, the U.S. president-elect, were effectively working in tandem to push crypto, a business sector the family is directly invested in. The message was notable because it contrasted drastically with the promise the family made when Donald J. Trump entered the White House eight years ago, to keep business and government operations separate. Eric Trump said he had even phoned his father — “Pops,” he said he calls him — to celebrate…

China’s economy is a disaster, and it’s no secret. The government’s latest attempt to stabilize the yuan and calm the markets is falling flat, leaving traders and analysts unimpressed. Despite frantic efforts by the People’s Bank of China (PBOC), the yuan is dangerously close to the weak end of its trading band, and bond yields are just barely above record lows. Stocks? They’re tanking. The MSCI China Index is down nearly 20% since October, edging closer to bear market territory. Analysts say China’s financial markets need more than these half-measures to recover. What’s missing is real monetary and fiscal firepower,…

As crypto fan Donald Trump prepares to take the reins of the government, the U.S. Consumer Financial Protection Bureau has pitched new regulations that would have a significant impact on stablecoin issuers and wallet providers, though the proposal’s future remains in question. The CFPB took the first procedural step to open a proposal to public comment on Friday that would set up a framework to apply the Electronic Fund Transfer Act to virtual wallets and stablecoins – the digital tokens tied to the value of a steady asset, commonly the U.S. dollar. While that has heavy implications to the way…

QCP Capital has executed the first derivatives trade using Blackrock’s BUIDL tokenized fund as collateral, marking a milestone in the integration of blockchain technology into institutional finance. QCP Capital Breaks Ground With BUIDL-Backed Derivatives QCP Capital, a subsidiary of QCP Group, has conducted the first derivatives trade collateralized by Blackrock’s BUIDL tokenized fund, in collaboration with Securitize Credit. The firm said that the trade represents a significant leap in the application of blockchain-based assets in traditional financial markets, particularly for institutional investors. Launched in March 2024, Blackrock’s BUIDL, officially known as the Blackrock USD Institutional Digital Liquidity Fund, is a…

GMT recorded notable price gains on its daily chart as altcoins soared on Bitcoin’s stability above $96K. While BTC gained 2% over the past day, the altcoin jumped nearly 10% from $0.1977 to $0.2172 daily peak. GMT’s upside momentum strengthened as Web3 app STEPN broke two Guinness World Records. 🎉 WE DID IT—TWICE! 🎉 Our unstoppable community has officially broken not one, but TWO GUINNESS WORLD RECORDS™ titles! 🌍💪 🏆 @GWR title for most users to complete a remote one-mile distance in 24 hours 🏆 @GWR title for most users to complete a remote one-mile distance in… 3:05 PM ·…

Enforcement Director Ian McGinley is leaving the Commodity Futures Trading Commission in a week, ending a relatively short tenure that saw some high-profile crypto cases. He arrived at the agency in February 2023, a month before the CFTC sued Binance and then-CEO Changpeng Zhao for violating U.S. commodities laws. During his tenure, he also oversaw the conclusion of the enforcement work against collapsed global platform FTX, which he characterized as the largest recovery of dollars for victims in CFTC history. The agency has since pursued actions against KuCoin and Falcon Labs, among other projects. In a 2023 speech, McGinley addressed…

Cryptocurrency markets took a hit today after strong U.S. employment data weighed on digital asset prices, stoking fears that the Federal Reserve may delay cutting interest rates. Bitcoin has lost over 10% of its value since the Fed’s hawkish meeting on December 18. The jobs report released Friday showed the U.S. economy added 256,000 jobs in December, significantly beating economists’ estimate of 153,000. The unemployment rate also fell to 4.1% from 4.2% in November, underscoring the resilience of the labor market. “This report will continue to drive higher yields and further postpone the next Fed rate cut,” said Bryce Doty,…

Justin Sun, a crypto entrepreneur, recently grabbed headlines for eating $6.2 million worth of banana art, which he won from Sotheby’s Auction House. Now, he’s once again making news by announcing USDD 2.0, a new iteration of stablecoin. USDD 2.0 https://t.co/MxD01cuSOw — H.E. Justin Sun 🍌 (@justinsuntron) November 29, 2024 However, he did not share more details about USDD 2.0. Can USDD 2.0 Have Connections With Trump’s WLFI? The moves come after Justin Sun was appointed as a key advisor for World Liberty Financial after his $30 million investment in the project. WLFI is a crypto project backed by upcoming…

Key Takeaways Ammon Simon has been appointed Chief Counsel for the US Senate Committee on Banking, Housing, and Urban Affairs. Simon’s appointment is expected to influence crypto regulation, promoting innovation with investor protection. Ammon Simon has been appointed Chief Counsel for the US Senate Committee on Banking, Housing, and Urban Affairs, according to his LinkedIn announcement. Simon previously served as counsel to SEC Commissioner Hester M. Peirce, where he focused on regulatory policies for crypto assets and emerging financial technologies. During his tenure at the SEC, he worked to facilitate dialogue between the agency and industry stakeholders on matters including…