Author: NBTC
The following is a guest article from Vincent Maliepaard, Marketing Director at IntoTheBlock What is BlackRock’s BUIDL Fund? The BUIDL fund, formally known as the BlackRock USD Institutional Digital Liquidity Fund, represents BlackRock‘s venture into tokenized assets on a public blockchain. Utilizing the Ethereum network, BUIDL invests in cash, short-term debt securities, and U.S. Treasury bonds. The launch of BlackRock’s BUIDL fund excited many in the industry because it showcases how traditional financial instruments can integrate with the innovative capabilities of DeFi. However, BlackRock is not the first to explore this technology. Other notable firms have also made significant strides…
Customers Bank has debanked a number of crypto hedge funds in recent weeks, three people said. One person said the move was mainly housekeeping and the offboarding of inactive accounts. To limit its exposure to digital assets the bank has capped deposits from crypto clients at 15% of total deposits. Customers Bank, which services some of the largest names in crypto including Galaxy Digital (GLXY), Coinbase (COIN) and Circle, has told some hedge-fund clients it can no longer provide them with banking services, according to three people familiar with the matter. Whilst the extent of the cull is unclear, one…
In a Fox Business interview, Ripple CEO Brad Garlinghouse discusses the company’s upcoming US dollar-backed stablecoin and reveals plans to capture a significant part of the market. Notably, the upcoming stablecoin, which is expected to launch on the XRP Ledger (XRPL) and Ethereum later this year, would serve as a bridge between crypto and traditional finance (TradFi). Plans to Gain Dominance in the Stablecoin Market During an interview with Fox Business’ Maria Bartiromo, Garlinghouse noted that the stablecoin market is currently valued at $150 billion, with projections from experts suggesting that the figure could soar to more than $2.8 trillion…
Arkreen, a Web3-driven platform that offers an infrastructure for worldwide distributed renewable resources of energy, has collaborated with The Graph. As a part of this collaboration, Arkreen is launching its subgraphs on the decentralized network of The Graph to provide cutting-edge facilities to consumers. The company disclosed this endeavor on its official account on X. The @arkreen_network subgraphs are live on @graphprotocol’s decentralized network! 🎉The upgrade process was smooth, user-friendly, & gas free!Arkreen’s DePIN & ReFi applications, including Arkreen Miners, AREC protocol, AREC bridge, https://t.co/r7Vwu0TBXA, relies on The… pic.twitter.com/8dgdtaAid2 — arkreen (@arkreen_network) June 7, 2024 Arkreen and The Graph Commence…
Colin Wu, a crypto news reporter, notes that the European Central Bank (ECB) has announced its first interest rate cut in five years, reducing rates by 25 basis points. This decision comes amidst projections of inflation at 2.5% in 2024, gradually decreasing to 1.9% by 2026. In addition, GDP growth forecasts expect GDP to rise 0.9% in 2024 and 1.6% in 2026. The move, anticipated by money markets, marks the first cut since September 2019, when the deposit facility entered negative territory. The European Central Bank announced the first rate cut in five years, 25bps. The ECB expects inflation to…
The meme stock influencer Kieth Gill, better known online as Roaring Kitty or DeepFucking Value, opined on YouTube—carefully—on Friday about GameStop’s future as a company. It was his first livestream since 2021. “Do I have to be careful about what I saw here?” the influencer asked, while displaying a background of GameStop’s stock price on Yahoo Finance. “I wanted to remind people that I’m the one active on my accounts, of course.” The announcement of his livestream a day before had caused the firm’s share price to spike 47% over the course of the trading day to $46.55, pushing higher…
Solana (SOL) blockchain has a problem with spam transactions, claims a trader and investor in digital assets, Dan Smith. In a series of X posts, the crypto enthusiast explained how spammers boost the number of failed transactions on the blockchain network. Smith explained that an average “real user” of the Solana blockchain sends under 50 transactions per day with a failure rate of 8%, resulting in the failure of 1 transaction in every 10 transactions. The X post explained that 97% of addresses fall into the “real user” group, and are collectively responsible for 0.6% of total failed transactions. Smith…
In an exclusive development, INTO has announced a new partnership with Value DEX. It is a premier decentralized exchange for EVM chains and the Solana network. This collaboration promises to bring exciting new opportunities for users and as a whole for the blockchain community. We’re excited to announce @valu_so as our new partner! 🎉Your premier decentralized exchange for EVM chains and the Solana network. 🌐✨This partnership brings together the best of social networks and DEX! Stay tuned for more exciting collaborations. 🚀🔥 pic.twitter.com/YEwUyymB7i — INTO (@INTOverse_) June 8, 2024 Value DEX Brings Expertise to INTO for a Frictionless DeFi-Social Experience…
Welcome to the On the Margin Newsletter, brought to you by Ben Strack, Casey Wagner and Felix Jauvin. Here’s what you’ll find in today’s edition: Macro factors suggest the stage could be set for BTC to hit $100,000 in 2024 — though such a rise is far from guaranteed. Tomorrow’s jobs report is going to be a big one. Could this be the soft landing everyone’s been waiting for? The FTX debtor-creditor saga continues, in case you haven’t had enough. BTC to $100k, or no way? Bitcoin’s price is inching closer to the nice round number of $100,000. Despite an…
Anatoly Aksakov, Chairman of the Russian State Duma Financial Markets Committee, has predicted that international trade will migrate to CBDC for settlements during the next five years. Aksakov stressed that not many countries have made progress using these digital currencies, but he believes this will be addressed soon. Russian State Duma Official Bets on National CBDC as Future of International Trade Settlements More countries consider central bank digital currencies (CBDC) as part of their future financial trade infrastructure. Anatoly Aksakov, Chairman of the Russian State Duma Financial Markets Committee, has stated that he believes using CBDC for international trade settlements…