Author: NBTC
U.S. Securities and Exchange Commission Chairman Gary Gensler has warned so-called crypto exchanges that they must follow rules. The SEC is currently engaged in legal battles with such major exchanges as Coinbase, Kraken, and Binance. During a Wednesday interview with CNBC, Gensler stressed that the SEC would keep protecting the investing public. “This is a field that is rife with fraudsters and scammers, and grifters,” Gensler stressed. The SEC boss pointed to the fact that some of the biggest crypto figures from 2022 are now either in jail or awaiting extradition. Gensler, of course, was alluding to former FTX CEO…
Justin Sun has taken to X (formerly Twitter) to explain that “all exchanges in the industry have already implemented proof of reserves (PoR).” He followed up this pronouncement by further emphasizing that “there is only one explanation for why” exchanges have yet to do it — “they are unable to meet the requirements.” This reveal was somewhat surprising as Poloniex, a cryptocurrency exchange owned by Sun, has not implemented PoR, and as such we are forced to conclude that Poloniex is also “unable to meet the requirements.” Poloniex has a page on its website that claims to be a “Proof…
As Senator Lummis pushes for Bitcoin to stabilize the U.S. dollar, Moe Vela warns of the risks. Read on. During the Bitcoin 2024 conference in Nashville on July 27, US Senator Cynthia Lummis proposed that the U.S. government consider Bitcoin (BTC) as a strategic reserve asset to stabilize the dollar’s value and counter inflation. In a follow-up to her initial announcement, on July 31, Senator Lummis officially introduced the Bitcoin Strategic Reserve bill. This legislation aims to direct the U.S. government to establish a reserve fund specifically for Bitcoin, ensuring it is held securely across various geographic locations. The plan…
The decentralized application (DApp) ecosystem continues to thrive, with a variety of platforms showing impressive growth across multiple metrics such as market capitalization, total value locked (TVL), fees, and monthly revenue. An analysis of key DApps reveals significant developments, particularly in terms of fees generated and the revenue accrued over the past month. Below is a breakdown of the latest performance data for leading platforms, providing insight into the current state of decentralized finance (DeFi). KEY METRICS ON POPULAR #DAPPS #Sky $SKY #Aerodrome $AERO #LidoFinance $LDO #Uniswap $UNI #Aave $AAVE #PancakeSwap $CAKE #Ethena $ENA #Curve $CRV #GMX $GMX pic.twitter.com/yQK3cEeguV —…
Dan Gallagher, Robinhood’s Chief Legal Officer and a former SEC Commissioner, testified before the U.S. House Financial Services Subcommittee on Digital Assets. Wherein, he criticized the “scorched earth” approach the SEC has on cryptocurrencies. Gallagher disclosed that Robinhood had over a dozen meetings with the SEC in an effort to register, but still resulted in a Wells notice from the enforcement division. According to Gallagher, Robinhood to be registered as a digital asset broker-dealer under the SEC. Robinhood claimed to have dedicated efforts and resources to implement the regulations set by the Commission. They spent over a year seeking guidance…
Instarem integrates Apple Pay with its Amaze card, enhancing convenience for contactless payments and cross-border transactions. Ripple’s XRPL expands to support NFTs, smart contracts, and DEX, pushing broader blockchain adoption and innovation. Instarem, a Ripple partner, has made a huge step forward by integrating Apple Pay with its Amaze card. Users may now make contactless payments using their iPhone, iPad, or Apple Watch, which adds ease and security to their transactions. This interface allows Amaze cardholders to travel without the need for physical cards, making it easier to manage their accounts while on the go. Furthermore, the Amaze card accepts…
Former President Donald Trump laid out his vision for the future of cryptocurrencies in the United States in a recent interview with FOX Business’ Maria Bartiromo. Trump said he should have embraced crypto technology to maintain American leadership in the global arena. Speaking at a crypto conference last weekend, Trump expressed his strong desire for cryptocurrencies to play a more significant role in the American economy. He argued that the United States must be at the forefront of this technology or risk falling behind other countries, especially China. “Crypto is a very interesting thing,” Trump said, adding: “It’s very high-level,…
SingularityDAO, a decentralized portfolio management protocol, has partnered up with Cogito Finance to integrate Real World Assets (RWAs) into its upcoming AI-powered DynaVaults v2, according to the most current information shared with Finbold on Wednesday, September 18. The collaboration seeks to merge decentralized finance (DeFi) with traditional finance (TradFi) by developing innovative, compliant on-chain financial products. Mario Casiraghi, Co-founder of SingularityDAO and Executive at the Artificial Superintelligence Alliance, commented on the integration, stating: “The integration of Cogito Finance extends SingularityDAO’s goal of provisioning access to open finance. As TradFi and DeFi converge, the missions of SingularityDAO and Cogito align synergistically.…
MicroStrategy proposed to issue $700 million of convertible senior notes, with $500 million to be used to redeem a previous tranche of notes. The remainder of the money could be used to buy additional bitcoin. Nasdaq-listed bitcoin development firm MicroStrategy (MSTR) announced Monday that it intends to offer $700 million aggregate principal amount of convertible senior notes due 2028. The company plans to use the proceeds of the offering to redeem $500 million worth of senior secured notes with 6.125% annual yield maturing in 2028, the press release said. It will use the rest of the proceeds to purchase more…
A recently released report on Palau’s National Government Payment Service has revealed a significant level of contact between Ripple and the International Monetary Fund (IMF). Prominent XRP community member WrathofKahneman (WoK) unearthed this observation and highlighted it in a recent post on X. Notably, the report from Palau highlighted the successful completion of Phase 2a of the country’s digital payment initiative. For context, this initiative focuses on developing a stablecoin service, “PSC.” Palau is carrying out this project in collaboration with Ripple, utilizing the XRP Ledger (XRPL). This recently completed phase analyzed stakeholder requirements in six key socioeconomic areas to…