Author: NBTC

This is a segment from the Forward Guidance newsletter. To read full editions, subscribe. We’re 42 days away from the Fed’s next policy-setting meeting, and markets are growing more certain that committee members will make the first interest rate cut of the year. There’s currently a 91% chance the FOMC will lower rates by 25 basis points in September, per data from CME Group. The Fed, once acting in lockstep with the Bank of England and the European Central Bank, has diverged in policy recently. So far in 2025, the ECB has cut rates twice; first in March and then…

The Dubai Virtual Assets Regulatory Authority (VARA) has issued a notice on its website stating that it has fined Morpheus Software Technology FZE. The firm, also known as Fuze, is a licensed VASP digital asset infrastructure provider after it identified failures in its AML (anti-money laundering) program. VARA identified failures in Morpheus’ (Fuze) anti-money laundering (AML) program, related governance, compliance, and internal systems and controls. Furthermore, Morpheus (Fuze) was found to have intentionally conducted unlicensed VA activity, breaching its license conditions, and further failed to disclose those material facts to VARA. VARA took enforcement actions, including a financial penalty against…

The term “Ethereum layer-2” is generally thought to mean that a chain inherits Ethereum’s security. But the line has always been blurry, and remains so, especially with the rise of OP Stack chains that use alternative data availability (DA) layers. These so-called “Optimiums” settle to Ethereum but post data elsewhere, introducing some additional trust-assumptions. Toghrul Maharramov, a rollup researcher and former Scroll contributor, has been a vocal critic of looser L2 definitions, and declared Wednesday on X: “Optimiums are not L2s. Anyone who says otherwise is trying to psyop you.” A good example of this is Celo, which Blockworks reported…

Curators may now create custom lending markets by using this distinctive, institutional-grade lending infrastructure . Over the course of seven months, Gearbox users have created $2.8 billion in trading volume across Ethereum DEXs. Gearbox Protocol, which has a USDC vault curated by Re7 Labs, has debuted on Etherlink. The deployment uses treasury-backed tokens like mTBILL, mBASIS, and mRe7YIELD to provide institutional-grade strategies to the Tezos Layer 2. As DeFi’s credit layer, Gearbox links customers looking for composable leverage across return-generating options with passive liquidity providers. Curators may now create custom lending markets by using this distinctive, institutional-grade lending infrastructure thanks…

The world of cryptocurrency trading is often a high-stakes arena, and few events capture attention like a whale’s dramatic shift in strategy. Recently, a prominent Hyperliquid whale trader named AguilaTrades made headlines with a stunning reversal: after three consecutive, costly short positions on Ethereum (ETH), this influential player has now opened a massive 15x ETH long position. This bold move highlights the unpredictable nature of leveraged trading and the immense capital movements that can occur on decentralized exchanges. It’s a compelling example of how quickly fortunes can change in the crypto space. What Just Happened in Hyperliquid Trading? On-chain analyst…

Neel Kashkari, president of the Federal Reserve Bank of Minneapolis. Who has joined other Federal Reserve officials in supporting interest rate cuts, saying two cuts in 2025 seem right. In a CNBC interview, he pointed to signs of a slowing US economy. Especially after the July jobs report showed a weakening labor market. This has pushed the odds of a September rate cut to 90%, with Kashkari suggesting it’s time to adjust rates soon. ICYMI: Watch @minneapolisfed President @neelkashkari’s interview earlier today (8/6) with @cnbc’s @andrewrsorkin. https://t.co/jscbKG1GfU — Minneapolis Fed (@MinneapolisFed) August 6, 2025 Kashkari Responds to Economic Signals His…

The cryptocurrency industry is mobilizing in Brazil to shut down the Provisional Measure that expands the crypto income tax for all users. Analysts agree that if enacted, this measure would hinder adoption and divert crypto activity to decentralized platforms. Brazil Faces Crypto’s Breaking Point With Generalization of Crypto Income Tax The cryptocurrency industry in Brazil is approaching a potential turning point in its history, and it is mobilizing all its lobbying power to avoid it. The cause is Provisional Measure 1,303/2025, which changes the established cryptocurrency taxation scheme and extends it to all crypto holders. The new provisional measure, currently…

SBI Holdings is moving to digitize Japanese equities using blockchain to cut fees and enable faster global trading. Japan’s primary financial group, SBI Holdings, is preparing a joint venture with Singapore-based startup StarTail Group. Together, they will develop a blockchain-powered platform to digitize equities. Sources told TV Tokyo that the project could reduce trading fees and make Japanese stocks easier to access internationally. SBI Ventures into Stock Tokenization Under this system, SBI will convert shares into “tokens,” a digital asset, so traditional brokers may no longer be required. This could cut transaction times to a few seconds and significantly reduce…

Hemi, a Bitcoin Layer-2 solution, today announced a strategic alliance with Houdini, a non-custodial DEX aggregator that facilitates private transactions. With this collaboration, Hemi seeks to capitalize on HoudiniSwap’s strengths to power enhanced cost-effectiveness, scalability, and security for its customers. Hemi is a Layer-2 network that enables Bitcoin to participate in DeFi by combining Ethereum-like smart contract capabilities into the Bitcoin chain to provide builders and users with improved efficiency, security, and accessibility of DeFi. On the other hand, HoudiniSwap is a recognized provider of private crypto transactions while ensuring user anonymity and privacy. It is a decentralized privacy platform…

Ethereum’s price stands at $4,403 on Aug. 12, 2025, at 10:45 a.m. Eastern time, supported by a market capitalization of $530.27 billion and a 24-hour trading volume of $43.98 billion. The day’s intraday range spanned $4,196 to $4,435, underscoring heightened volatility as traders tested key resistance levels. Ethereum On the daily chart, ethereum (ETH) maintains a robust bullish trend, with the price having surged from approximately $2,112 to its recent high of $4,435. Higher highs and higher lows reinforce the upward trajectory, but small-bodied candles near the top hint at short-term indecision. The $4,000 level remains a strong support zone,…