Author: NBTC
TrustToken and TrueCoin, the entities behind the TrueUSD (TUSD) stablecoin, last week reached a settlement with the US Securities and Exchange Commission (SEC) over allegations of fraudulent and unregistered sales of investment contracts. The companies have agreed to pay a combined total of $700,000 in penalties and disgorgement without admitting or denying the SEC’s findings. Per an exclusive statement to CryptoSlate from the TrustToken and TrueCoin teams, “TrustToken and TrueCoin have agreed to a no-admit/no-deny settlement with the US Securities and Exchange Commission, resolving an investigation related to TrueUSD and TrueFi. While we were prepared to defend our position, we…
Sanctioned crypto mining firm BitRiver suggests Russia could soon outpace the U.S. in mining due to favorable regulations. As U.S. presidential candidates increasingly highlight the importance of blockchain and crypto mining leadership, sanctioned crypto mining firm BitRiver is optimistic about Russia‘s potential to surpass the U.S. in Bitcoin (BTC) mining by 2027. In an interview with state-owned news agency Prime, BitRiver CEO Igor Runets highlighted recent regulatory developments that have bolstered Russia’s standing in the crypto sector. In early August, Russia’s President Vladimir Putin legalized crypto mining by signing new laws that exempt low-energy mining operations from restrictions. This legislation…
Aptos (APT), the Layer 1 blockchain inspired by the discontinued Diem (formerly Libra) blockchain developed by Meta, has become the latest network where investors can trade shares of Franklin Templeton’s OnChain U.S. Government Money Market Fund (FOBXX). The fund, which is the second-largest tokenized fund on the market with a $435 million market cap, is already available on Ethereum via Arbitrum, Stellar and Polygon as well as Avalanche. Franklin’s latest addition is due to Aptos’ unique characteristics which also meet the asset manager’s rigorous suitability standards for its Benji platform, the firm’s blockchain-integrated recordkeeping system, said Roger Bayston, head of…
Today, Alby announced the release of Alby Go, a mobile application available for iOS and Android that allows users to make self-custodial payments via their Lightning node. “ALBY MOBILE WEN?” 🙄”guys, when will you release an app?” 🙄”i want wallet from Alby on myPhone” 🙄You can stop asking – Alby mobile is here ❗️—————Please welcome, on your phones, on GitHub, in your appstores….👩🚀👩🚀👩🚀 ALBY GO 👩🚀👩🚀👩🚀 pic.twitter.com/WtrJ1eKrs3 — Alby 🐝 (@getAlby) September 25, 2024 Users can connect the app to Lightning nodes and wallets including Alby Hub, Umbrel, Start9, LifPay and CoinOS to enable self-custodial Lightning payments. The app most…
China emphasizes the need for advanced research on cryptocurrency to support the digital economy. Japan plans to reform crypto gaming regulations, streamlining processes for managing in-game assets. Turkey decides against additional taxes on stock and cryptocurrency trading profits, focusing instead on narrowing tax exemptions. In the crypto space, from September 23 to September 29, various Asian nations made moves that could shape the future. From China’s growing focus on crypto research to Japan’s policy changes and Turkey’s view on crypto taxes, this week’s news highlights important shifts in crypto policies and plans. China Calls for Enhanced Cryptocurrency Research During the…
In order to support their fast expansion, GPU cloud network io.net and premier image-generation platform Leonardo AI have established a cooperation to increase its computational power . In order to support Leonardo AI’s rapid scalability in response to increased client demand for its generative AI content creation platform, io.net will provide enterprise-grade L40S GPUs. Millions of additional users have joined Leonardo AI’s content creation platform as a result of its expansion, taking use of its potent ability to produce visual assets of production-caliber quality whenever needed. Through this agreement, Leonardo AI from io.net will be able to use more A100…
ZA Bank becomes the first Hong Kong digital-only bank to gain a license from the Securities and Futures Commission for Type 1 regulated activity. According to Hong Kong news outlet HKEJ, on Sept. 30 a ZA Bank spokesperson said that ZA Bank has received approval from the China Securities Regulatory Commission to allow the company to add new conditions for virtual asset transactions to its Type 1 license. This news follows a year-long process the bank has undertaken since Hong Kong financial regulators tightened restrictions on unlicensed exchanges and the development of a regulated crypto ecosystem. The bank plans to…
Cryptocurrency analytics firm Alphractal has released a new report highlighting the resistance in Bitcoin’s open interest, which has reached $38 billion on major exchanges. The report notes that there has been a significant increase in open interest recently, especially on platforms such as Binance, Bybit, Bitget, Bitfinex, and CME. However, in the last 24 hours, many investors have closed their positions, causing a significant shift. The daily open interest delta fell by $400 million today and is on the verge of turning negative in the last week. Historically, sharp declines in open interest have generally been associated with price declines,…
China’s former minister of finance, Zhu Guangyao, has called on Beijing to pay more attention to the crypto markets in a speech at a summit hosted by Tsinghua University. Zhu also said that the government must recognize the risks and harm crypto poses to capital markets. China’s former minister of finance, Zhu Guangyao, said at a forum hosted by Tsinghua University that the government should study crypto more closely, given remarks made on the U.S. campaign trail. Crypto “has negative impacts, and we must fully recognize its risks and the harm it poses to capital markets,” Sina News quoted him…
Yield-bearing stablecoins are gaining traction, with the modular DPoS network Elixir recently introducing a new stablecoin, DEUSD, that offers holders the opportunity to earn returns from the crypto asset. Since Aug. 7, DEUSD’s market value has grown from $952,443 to $115.92 million. Yield-Bearing Stablecoins Continue to Rise In the midst of the rising popularity of yield-bearing stablecoins—such as those developed by Blast, Ethena, Mountain Protocol, Paxos, and Gyroscope’s recently launched “savings gyd” (SGYD)—a new player has entered the market. On Wednesday, Elixir, a modular DPoS network with 13,563 validators, launched DEUSD, a yield-bearing U.S. dollar-pegged crypto token, similar to Ethena’s…