Author: NBTC

Prominent XRP community figure WrathofKahneman addresses speculations surrounding Ripple’s upcoming stablecoin RLUSD. In a tweet yesterday, WrathofKahneman suggested that several hype accounts on X have been spreading premature information regarding the pace at which Ripple has been minting its RLUSD stablecoin. According to him, these hype accounts claim that Ripple had minted 80% of the RLUSD supply in just 24 hours. Over 1.7M RLUSD Tokens Minted in Five Days This speculation comes after Ripple Stablecoin Tracker reported huge volumes of minted RLUSD. As of 12:28 a.m. (UTC) on September 24, RLUSD’s maximum total supply surged to 563 tokens following the…

Banq, which filed for bankruptcy last year, had its application dismissed by a U.S. judge who found the application was made to shield the company and its executives from ongoing litigation by a creditor. Banq and its chair Jon Jiles is being sued by creditor N9 over allegations Jiles failed to uphold his fiduciary duties. Crypto neobank Banq, which filed for Chapter 11 in a U.S. bankruptcy court in the district of Nevada, has had its application rejected. The bank’s bankruptcy application was called a “bad faith” tactic to “gain an advantage in pending litigation” and not to reorganize by…

Omni Network (OMNI) is making waves in the Ethereum ecosystem with its innovative rollup layer designed to streamline the creation of decentralized applications (dApps). The network aims to unify Ethereum’s disparate scaling solutions, significantly enhancing scalability and integration for developers. Contents hide 1 What Does Omni Network Offer Developers? 2 What Makes OMNI Unique? What Does Omni Network Offer Developers? The Omni Network provides a cohesive platform for developers to build applications across various Ethereum rollups, effectively acting as a single state machine. This structure allows for seamless programming and integration, facilitating access to Ethereum’s total liquidity and user base.…

Ethena Labs has proposed to the USDe community that SOL be added to its mix of collateral. USDe is unique insofar that it maintains $1 peg with collateral, hedged trades, and risk-managed reserves. Ethena Labs, the entity responsible for developing and maintaining USDe, has proposed bringing onboard (SOL) as part of the synthetic stablecoin’s mix of collateral that forms its treasury. USDe differs from stablecoins such as Tether’s (USDT) or Circle’s (USDC) because it’s a synthetic stablecoin and not backed by fiat assets at a 1:1 ratio. The stablecoin maintains its $1 peg by collateralizing stablecoins and leveraging a hedged…

This week is packed with major economic events that will undoubtedly influence global markets. Oil, retail, housing, and manufacturing data are all on deck, with many companies reporting earnings and 11 Federal Reserve officials giving speeches. It’s a busy week for those tracking the pulse of the economy. Here’s a breakdown of what’s coming and why it matters, with an eye on the numbers and market implications. OPEC monthly report and Fed speaker event Kicking off the week is OPEC’s monthly report. Oil markets are always watching closely, and this one’s no different. Last month, OPEC noted a small increase…

The recent surge in the Web3 sector has brought about a significant shift with several well-known projects seeing huge weekly trading volumes. Phoenix, a prominent crypto analytics firm, has shared the list of top Web3 tokens that recorded substantial trading volumes weekly, with Chainlink ($LINK), Polkadot ($DOT), and Ethereum Name Service ($ENS) leading them. The analytics provider revealed this list on its official X account. TOP #WEB3 TOKENS BY WEEKLY TRADING VOLUME$LINK $DOT $ENS $AR $SAGA $FIL $MNT $APE $LPT $GRT $GMT $ALT $THETA $STORJ $PIXEL pic.twitter.com/cOj7PbuKFx — PHOENIX – Crypto News & Analytics (@pnxgrp) September 29, 2024 $LINK Leads…

Seoul National University (SNU) in South Korea has made a significant decision to halt cryptocurrency donations until the stability of digital assets is assured and appropriate regulatory frameworks are in place. This move, reported by Hankook Ilbo, comes in the wake of a controversy involving Wemade, a prominent game company that pledged KRW 1 billion (approximately $737,000) in WEMIX tokens to a startup fund. The subsequent liquidation of these tokens to cover operational expenses without prior disclosure led to a substantial drop in their value, prompting SNU to reconsider its stance on accepting crypto donations. This decision underscores the growing…

Bitcoin mining profitability dropped in September, the bank said. Jefferies said October could be a harder month for the sector as the hashrate has risen 11%, more than offsetting the 5% increase in the bitcoin price. North American listed mining companies mined a larger share of the network in September than August, the report said. Bitcoin (BTC) mining profitability fell in September from the month before, as the average price of the world’s largest cryptocurrency was broadly unchanged while the network hashrate rose about 1.7%, Jefferies said in a research report Sunday. The investment bank noted that average daily revenue…

Charles Hoskinson introduces Cardano’s “Bill of Rights,” outlining 11 blockchain tenets for governance, privacy, efficiency, and user protections. In a recent broadcast, Charles Hoskinson, founder of Cardano, outlined a framework for blockchain governance that he described as a “Bill of Rights” for the Cardano ecosystem. His announcement marks a significant development in the blockchain’s evolution, aiming to establish a governance model that ensures user rights and expectations are clearly defined. The move is part of an ongoing effort, with over 50 workshops conducted and elected delegates helping to craft a comprehensive constitution for Cardano. Cardano Blockchain Tenets https://t.co/SnpR98Rt3S — Charles…

Trump-backed DeFi venture is set to launch its WLFI token sale on Tuesday, just three weeks before the US presidential election. Key Takeaways A potential assassination plot against Trump occurred ahead of the World Liberty token sale. The police assessed that the incident did not pose a direct threat to Trump or the rally attendees. Donald Trump recently faced a potential assassination plot in the lead-up to the token sale of World Liberty Financial, a DeFi project backed by the Trump family. Police reported on Saturday that they arrested an armed man with a fake VIP and press pass at…