Author: NBTC

China’s economy is a disaster, and it’s no secret. The government’s latest attempt to stabilize the yuan and calm the markets is falling flat, leaving traders and analysts unimpressed. Despite frantic efforts by the People’s Bank of China (PBOC), the yuan is dangerously close to the weak end of its trading band, and bond yields are just barely above record lows. Stocks? They’re tanking. The MSCI China Index is down nearly 20% since October, edging closer to bear market territory. Analysts say China’s financial markets need more than these half-measures to recover. What’s missing is real monetary and fiscal firepower,…

As crypto fan Donald Trump prepares to take the reins of the government, the U.S. Consumer Financial Protection Bureau has pitched new regulations that would have a significant impact on stablecoin issuers and wallet providers, though the proposal’s future remains in question. The CFPB took the first procedural step to open a proposal to public comment on Friday that would set up a framework to apply the Electronic Fund Transfer Act to virtual wallets and stablecoins – the digital tokens tied to the value of a steady asset, commonly the U.S. dollar. While that has heavy implications to the way…

QCP Capital has executed the first derivatives trade using Blackrock’s BUIDL tokenized fund as collateral, marking a milestone in the integration of blockchain technology into institutional finance. QCP Capital Breaks Ground With BUIDL-Backed Derivatives QCP Capital, a subsidiary of QCP Group, has conducted the first derivatives trade collateralized by Blackrock’s BUIDL tokenized fund, in collaboration with Securitize Credit. The firm said that the trade represents a significant leap in the application of blockchain-based assets in traditional financial markets, particularly for institutional investors. Launched in March 2024, Blackrock’s BUIDL, officially known as the Blackrock USD Institutional Digital Liquidity Fund, is a…

GMT recorded notable price gains on its daily chart as altcoins soared on Bitcoin’s stability above $96K. While BTC gained 2% over the past day, the altcoin jumped nearly 10% from $0.1977 to $0.2172 daily peak. GMT’s upside momentum strengthened as Web3 app STEPN broke two Guinness World Records. 🎉 WE DID IT—TWICE! 🎉 Our unstoppable community has officially broken not one, but TWO GUINNESS WORLD RECORDS™ titles! 🌍💪 🏆 @GWR title for most users to complete a remote one-mile distance in 24 hours 🏆 @GWR title for most users to complete a remote one-mile distance in… 3:05 PM ·…

Enforcement Director Ian McGinley is leaving the Commodity Futures Trading Commission in a week, ending a relatively short tenure that saw some high-profile crypto cases. He arrived at the agency in February 2023, a month before the CFTC sued Binance and then-CEO Changpeng Zhao for violating U.S. commodities laws. During his tenure, he also oversaw the conclusion of the enforcement work against collapsed global platform FTX, which he characterized as the largest recovery of dollars for victims in CFTC history. The agency has since pursued actions against KuCoin and Falcon Labs, among other projects. In a 2023 speech, McGinley addressed…

Cryptocurrency markets took a hit today after strong U.S. employment data weighed on digital asset prices, stoking fears that the Federal Reserve may delay cutting interest rates. Bitcoin has lost over 10% of its value since the Fed’s hawkish meeting on December 18. The jobs report released Friday showed the U.S. economy added 256,000 jobs in December, significantly beating economists’ estimate of 153,000. The unemployment rate also fell to 4.1% from 4.2% in November, underscoring the resilience of the labor market. “This report will continue to drive higher yields and further postpone the next Fed rate cut,” said Bryce Doty,…

Justin Sun, a crypto entrepreneur, recently grabbed headlines for eating $6.2 million worth of banana art, which he won from Sotheby’s Auction House. Now, he’s once again making news by announcing USDD 2.0, a new iteration of stablecoin. USDD 2.0 https://t.co/MxD01cuSOw — H.E. Justin Sun 🍌 (@justinsuntron) November 29, 2024 However, he did not share more details about USDD 2.0. Can USDD 2.0 Have Connections With Trump’s WLFI? The moves come after Justin Sun was appointed as a key advisor for World Liberty Financial after his $30 million investment in the project. WLFI is a crypto project backed by upcoming…

Key Takeaways Ammon Simon has been appointed Chief Counsel for the US Senate Committee on Banking, Housing, and Urban Affairs. Simon’s appointment is expected to influence crypto regulation, promoting innovation with investor protection. Ammon Simon has been appointed Chief Counsel for the US Senate Committee on Banking, Housing, and Urban Affairs, according to his LinkedIn announcement. Simon previously served as counsel to SEC Commissioner Hester M. Peirce, where he focused on regulatory policies for crypto assets and emerging financial technologies. During his tenure at the SEC, he worked to facilitate dialogue between the agency and industry stakeholders on matters including…

Texas-based fitness maker Interactive Strength plans to allocate $5 million in Bitcoin as part of its treasury strategy. Interactive Strength, a maker of specialty fitness equipment, said Thursday its board has approved allocating up to $5 million in Bitcoin (BTC), subject to a cap of 25% of the company’s average daily cash holdings over the past three months. In a Nov. 21 press release, the Austin-headquartered company said it plans to hold Bitcoin as a treasury reserve asset, saying the cryptocurrency’s “inflation-resistant characteristics may make it a reliable asset as a functional store of value.” Interactive Strength CEO Trent Ward…

Bhutan, a small country in South Asia, is making big waves in the crypto world. The Kingdom, which populates roughly 770,000 people and lies between India, China and Nepal, just made headlines after one of its cities adopted a crypto reserve strategy. This includes bitcoin (BTC), ethereum (ETH), and Binance’s BNB token (BNB). El Salvador has previously made bitcoin part of the country’s national reserve and several other countries, including the United States, are considering taking similar measures to strengthen its already robust economy. But Bhutan could set an example for smaller countries, where making crypto part of their national…