Author: NBTC

Sigil Fund is betting on stablecoins and says Circle is the only investment on the market that enables it to do so. Stablecoins are becoming mainstream, according to Sigil Fund, an early backer of Circle. On Tuesday, June 10, Sigil Fund shared details of its investment in the USDC stablecoin issuer. The financial firm told investors it had already achieved a 4x return on its $5 billion pre-initial public offering investment. “Sigil Core invested in Circle in July 2024, well before its public debut. On IPO day alone, this position delivered a +9% gain to the fund’s NAV — and…

According to The Block, software giant Microsoft announced that it has partnered with cryptocurrency project Space and Time Labs (SXT). As part of this partnership, Space and Time will provide real-time data streaming to Microsoft’s Fabric platform. Microsoft’s AI-powered data platform Fabric has partnered with Space and Time to become the first Web3 data provider that will allow developers to access real-time blockchain data from Bitcoin, Ethereum, and other networks, according to an official statement. “By integrating with Microsoft Fabric, Space and Time not only expands our ability to deliver trusted data to developers and businesses, but also aligns with…

There’s a lot of confusion floating around the internet about the ongoing Ripple vs SEC case, with some posts claiming the SEC has already dropped its appeal against Ripple. However, the facts tell a different story. To set the record straight: a judgment has already been made, and Ripple has decided to drop its cross-appeal. But as for the SEC’s appeal, it hasn’t officially been dismissed yet. Former SEC lawyer Marc Fagel clarified that both parties still need to file formal paperwork to dismiss their appeals. While it seems certain this will happen, the SEC is still going through its…

In the fast-paced world of digital assets, staying informed about exchange announcements is paramount. A recent update from South Korean crypto exchange, Upbit, has caught the attention of many, particularly those holding Hippo Protocol (HP) tokens. This isn’t just a routine notice; it’s a critical heads-up for anyone involved with HP, indicating a temporary halt in services that impacts the flow of assets. Why is Upbit Suspending HP Deposits and Withdrawals? Upbit, one of Asia’s leading cryptocurrency trading platforms, officially announced a temporary suspension of both deposits and withdrawals for Hippo Protocol (HP). This measure is set to begin on…

Market watcher “Mister Crypto” highlights recurring Bitcoin cycles and insists that “this time won’t be different,” forecasting another parabolic surge. Bitcoin’s price has declined to $105,235 today, marking a 2.99% drop over the past 24 hours and a 5.12% decrease over the past week. Despite these recent losses, analysts on social media continue to point to historical patterns that suggest a potential parabolic price rally ahead. Bitcoin Historical Cycles and Parabolic Phases Mister Crypto, an analyst on X, has presented a chart tracing Bitcoin’s price history, emphasizing recurring patterns such as rounded bottoms and ascending triangles. These formations have historically…

Circle’s explosive IPO has set a new benchmark for crypto equity listings, but the real story may lie in what comes next. According to the latest Bybit Crypto Insights Report shared with crypto.news, Wall Street not only misjudged Circle’s value, but may now be playing catch-up as more crypto firms prepare to go public. The report dissects the details behind Circle’s debut on the NYSE under ticker CRCL, which saw its stock surge from $31 to $107 in the first week. Bybit analysts argue that this breakout was more than investor enthusiasm—it was a sign that traditional valuation models are…

Last week, the US Senate rejected the cryptocurrency-friendly stablecoin bill GENIUS. However, while the GENIUS Act is expected to pass after being re-voted in the Senate, Placeholder managing partner Chris Burniske said that Etheruem will gain the most benefit from the GENIUS Act. Evaluating the legislation from his account X, Burniske said that Ethereum (ETH) is likely to be the crypto that will benefit the most from the passage of the GENIUS Act proposed to regulate stablecoins. Burniske noted that Ethereum would benefit the most from the GENIUS law due to its large stablecoin ecosystem and robust decentralized finance (DeFi)…

As the United States Congress continues to push forward in its regulatory efforts surrounding the cryptocurrency market, two significant pieces of legislation are making their way through the legislative process: the GENIUS Act and the CLARITY Market Structure Bill. These bills are part of the ongoing attempt to establish a clear regulatory framework for digital assets, aiming to address critical concerns such as stablecoin regulation and market transparency. With Senate scrutiny over cryptocurrencies intensifying, these pieces of legislation reflect the growing pressure to introduce clearer rules for the sector. The bill is designed to regulate stablecoins, which are digital currencies…

Bitstamp by Robinhood has received a Major Payment Institution license from Singaporean financial authorities, following the deadline set for unlicensed crypto firms to cease operations in the region. According to a press release issued on July 3, Bitstamp by Robinhood has received an MPI license from the Monetary Authority of Singapore. Institutions that hold a major payment institution license are recognized and regulated by financial authorities in the region. License holders are granted permission to provide payment services without having to fulfill monetary thresholds to keep operating. These requirements include a minimum of 3 million SGD in monthly transaction volume…

Michael Saylor responded to a Bloomberg news anchor this week about Jim Chanos’ bearish trade against MicroStrategy. According to Saylor’s characterization of the short-sale by one of history’s most successful short-sellers, there are probably three ways Chanos’ trade could go — all of which will allegedly lose money. The hedge fund founder who made a name for himself predicting the collapse of Enron and Chinese real estate thinks MSTR is overvalued. Specifically, Chanos has placed a hedged short-sale against Saylor’s company. Because MSTR trades at a 1.7X multiple to its $63 billion net asset value (mNAV), Chanos has shorted MSTR…