Author: NBTC

The $20.43 billion yield-bearing stablecoin sector slipped massively this week, according to stablewatch.io, as several synthetic and algorithmic stablecoins suffered heavy outflows and severe depegs. The turmoil centered around the yield-bearing stablecoins deUSD, XUSD, and USDX, all of which collapsed from their dollar pegs in a matter of days. Massive Outflows Hit Leading Yield-Bearing Tokens The latest fallout has rippled through decentralized finance (DeFi) markets, exposing the fragility of complex collateral systems underpinning yield-bearing tokens. The week’s losses were punctuated by cascading total value locked (TVL) declines across dozens of protocols. Stablewatch.io data shows the biggest seven-day TVL drawdowns came…

A cohort of Republican House members is pushing the Trump administration to change tax rules on crypto staking rewards before they are locked in for the 2026 tax year. In a letter sent late Thursday to Treasury Secretary Scott Bessent, a group of 19 House Republicans urged the administration to immediately repeal a 2023 IRS rule declaring staking rewards to be taxable income as soon as they are received by an individual. Crypto industry advocates have, for years, argued that staking rewards should instead be treated by the IRS as new capital property, and thus only taxed when the funds…

In a move catching the crypto community’s attention, Resolv Labs has executed another significant Ethereum withdrawal, pulling 4,658 ETH worth $13.35 million from Binance. This latest transaction brings their total withdrawals to a staggering $39.4 million in just one week, signaling a potentially major shift in how institutional players are handling their digital assets. But what does this substantial movement really mean for the broader market? Why Are Massive Ethereum Withdrawals Significant? When large amounts of cryptocurrency leave exchanges, it typically indicates a strategic holding position. Think of exchanges as temporary parking spots for digital assets – when investors move…

United States President Donald Trump announced on Sunday that most Americans will receive a $2,000 “dividend” from the tariff revenue and criticized the opposition to his sweeping tariff policies. “A dividend of at least $2000 a person, not including high-income people, will be paid to everyone,” Trump said on Truth Social.The US Supreme Court is currently hearing arguments about the legality of the tariffs, with the overwhelming majority of prediction market traders betting against a court approval. Source: Donald Trump Kalshi traders place the odds of the Supreme Court approving the policy at just 23%, while Polymarket traders have the…

Keonne Rodriguez, who pleaded guilty to one felony count related to his role at Samourai Wallet, is calling on US President Donald Trump to pardon him, citing similar language that has been successful in previous pardon applications. In a Thursday X post, Rodriguez said he would report to prison on Friday, where he will serve a five-year sentence for operating an illegal money transmitter. The Samourai co-founder claimed there were no “victims” to his crime, and blamed his incarceration on “lawfare perpetrated by a weaponized Biden DOJ.” In a message tagging Trump, Rodriguez expressed hope that the US president would…

Ethereum price failed to stay above $2,950 and declined again. ETH is now consolidating and might soon aim to attempt another recovery wave if it clears $2,850. Ethereum started a fresh decline below the $2,920 zone. The price is trading below $2,900 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2,925 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it settles below the $2,800 zone. Ethereum Price Faces Renewed Selling Pressure Ethereum price attempted a fresh increase but struggled above $2,950,…

Oman has announced efforts to boost its GDP through digital programs lined up in the country. According to the country, it plans to build a strong digital economy through its National Digital Economy Programme, which is expected to focus on three pillars. In its statement, the country has highlighted that the program will focus on aspects like digital government, business digitization, and digital society. Oman intends to raise the sector’s contribution to its GDP to 10% by the end of 2040. According to Dr Ali bin Amer al Shaithani, Under-Secretary of the Ministry of Transport, Communications and Information Technology (MoTCIT),…

The United Kingdom is taking a decisive step toward fully regulating its crypto market. This week, the Financial Conduct Authority (FCA) launched a wide-ranging consultation outlining proposed rules for crypto exchanges, staking services, lending platforms and decentralized finance. The proposals follow new secondary legislation from the UK Treasury that formally brings crypto activities into the country’s financial services framework, with a target implementation date of Oct. 25, 2027. In this week’s episode of Byte-Sized Insight, Cointelegraph explored what this consultation signals for the UK crypto market and how industry leaders are interpreting the regulator’s direction. We spoke with Perry Scott,…

Scott Bessent, the current Treasury Secretary, said Sunday that Trump’s bold $2,000 “tariff dividend” promise might not be the kind of cash handout Americans are imagining. Speaking on ABC’s This Week, Scott was pressed about Trump’s viral Truth Social post where the former president claimed that Americans, excluding high earners, will receive a $2,000 payout thanks to his tariff policy. Scott, however, threw cold water on the idea that it’s a traditional stimulus check. He said he hadn’t discussed the post with Trump, but added that the so-called dividend could take several forms and might already be baked into some…

U.S. Senator Cynthia Lummis, who has arguably been the closest friend to the crypto sector in Congress, won’t seek another term, she said in a statement on Friday. The first-term lawmaker will call it quits after her six-year term ends in January 2027, leaving a Republican seat open in extremely red Wyoming, but also removing a major ally for the digital assets industry. Lummis has been the inaugural chair of the first subcommittee dedicated to crypto matters at the U.S. Banking Committee, where she’s pushed crypto-friendly legislation as a top priority. Even now, she’s among the leading negotiators for the…