Author: NBTC

This is a segment from The Breakdown newsletter. To read more editions, subscribe. “The continuous rise of the debt-to-GDP ratio indicates that current policy is unsustainable.” — Financial Report of the United States Government There once was a happy time when Fed chairs felt free to lecture politicians on their irresponsible spending habits. In 1990, for example, Alan Greenspan told Congress he would lower interest rates, but only if it cut the deficit. In 1985, Paul Volcker even specified a number, telling Congress that the Fed’s “stable” monetary policy was contingent on Congress cutting about $50 billion from the federal…

The financial world is abuzz, and at the heart of the conversation are stablecoins. Recently, Bank of Japan Governor Kazuo Ueda made headlines by suggesting that the growing use of stablecoins could significantly reshape how transactions occur outside the traditional banking system. This isn’t just a technical observation; it’s a profound statement about the future of finance, especially for everyday transactions that don’t involve banks directly. It signals a crucial shift in how central banks view these digital assets, moving from cautious observation to active consideration of their far-reaching implications. What Exactly Are Stablecoins and Why Are They Gaining Traction?…

According to breaking news, the SEC has issued a statement regarding liquid staking activities. According to the statement, liquid staking activities are not considered securities. Here are the tokens that are liquid staking-themed and are among the top 500 altcoins by market capitalization: Lido DAO Token (LDO) JITO (JTO) Frax Share (FXS) Lido stETH (STETH) Lido wstETH (WSTETH) Wrapped Beacon ETH (WBETH) Jito Staked SOL (JITOSOL) Rocket Pool ETH (RETH) BounceBit BTC (BBTC) Kelp DAO Retake ETH (RSETH) Liquid Staked ETH (LSETH) Mantle Staked Ether (METH) Renzo Protocol (EZETH) Staked ETH (OSETH) MARINADE STAKED SOL (MSOL) ether fi (EETH) Mantle…

In a significant development signaling the deepening integration of traditional finance with the burgeoning digital asset world, Kiwoom Securities, one of South Korea’s prominent brokerage firms, has officially thrown its hat into the ring of digital currencies. The company recently filed several trademark applications related to stablecoins, a move that could reshape the landscape of the South Korea stablecoin market and beyond. This action places Kiwoom Securities alongside other major financial institutions in the country, all exploring the immense potential of stable digital assets. What’s Driving Kiwoom Securities’ Interest in a South Korea Stablecoin? The news, initially reported by Digital…

Today, the jury for the Tornado Cash trial concluded its third day of deliberation, as many in the Bitcoin and crypto space continue to wait restlessly for a verdict. Another day of deliberation in the Tornado Cash trial keeping us on the edge of our seats https://t.co/bLFrIsIC5O — Seth For Privacy || Activate CTV + CSFS (@sethforprivacy) August 5, 2025 As someone who’s been in the courtroom for most days of the trial as well as these three (boring) days of deliberation, I, too, am more than ready for this trial to come to an end… …but I’m happy it…

U.S. Securities and Exchange Commission (SEC) Commissioner Caroline A. Crenshaw sharply criticized a new staff statement on liquid staking activities published by the SEC’s Division of Corporate Finance. Crenshaw argued that this clarification further exacerbates legal uncertainty rather than providing clarity for investors. Crenshaw stated that the statement contains numerous assumptions about liquid staking, and that these assumptions are not consistent with industry practices. “The Liquid Staking Statement presents a structure of assumptions stacked on top of each other, with little connection to reality,” Crenshaw said, adding that this situation creates confusion rather than provides direction for the industry. Crenshaw…

Pendle’s total value locked (TVL) has surged to a record $8.27 billion, while its native token PENDLE climbed 45% over the past week to $5.6 on the back of the protocol’s new yield-trading platform. With bitcoin funding rates averaging about 10% annualized this week and roughly $80 billion in open interest, according to Dune data, more than $8 billion changes hands yearly between longs and shorts. Boros packages those yields into tradable on-chain assets called Yield Units (YUs), letting traders go long or short on the rates themselves. Boros can be used for numerous advance strategies, including hedge floating funding…

Despite Ethereum’s price surge and a record-setting $2.5 million CryptoPunks sale, the NFT market is in steep retreat — with sales down 11% to $134.9 million and buyer and seller counts collapsing by about 90%, signaling a sharp contraction in participation across nearly all major blockchains. Summary NFT sales declined 11% to $134.9 million despite Ethereum’s 19% price surge. Market participation collapsed with buyer and seller counts dropping by approximately 90%. CryptoPunks #1021 set a new high-water mark with a 720 ETH sale worth $2.5 million. Where are all the NFT buyers? According to data from CryptoSlam, market participation has…

AllUnity, a joint venture between DWS, Galaxy and Flow Traders, has launched EURAU, a euro-denominated stablecoin approved under Germany’s new crypto regulations. EURAU is claimed to be the first euro-backed stablecoin to be issued under the EU’s Markets in Crypto-Assets Regulation (MiCAR) and licensed as electronic money by Germany’s BaFin. The token, issued on Ethereum as an ERC-20 asset, is designed for financial institutions, fintechs, and corporate clients needing regulated, instant cross-border euro payments. AllUnity has partnered with a consortium of European banks to act as reserve custodians. This structure aims to satisfy regulators and institutions seeking transparency, supported by…

Changpeng “CZ” Zhao, co-founder of Binance, just fired back at the FTX bankruptcy estate in a Delaware court, saying the U.S. has no legal right to come after him over a $1.76 billion clawback claim. On Monday, he filed a motion asking the court to dismiss the case completely. The reason? “The claims are so far removed from Delaware, and even the United States, that the statutes at issue, which lack extraterritorial application, do not even apply,” CZ wrote in the filing. He lives in the United Arab Emirates, not the U.S., and his lawyers argue that being a foreign…