Author: NBTC

In a recent AMA session, Cardano founder Charles Hoskinson floated a bold proposal to enhance stablecoin liquidity in the Cardano ecosystem. Specifically, he suggested converting $100 million worth of ADA in the treasury into USDM, a native Cardano-backed stablecoin. Hoskinson noted that the Cardano treasury currently holds approximately 1.7 billion ADA. It could be partially utilized to deploy a liquidity initiative to jumpstart decentralized finance (DeFi) activity across the network. “We could convert a hundred million ADA into USDM, put financial infrastructure behind it, and start building up trading, market-making, and total value locked (TVL) in the Cardano ecosystem,” Hoskinson…

The long-debated bipartisan GENIUS Act—set to establish the United States’ first comprehensive federal framework for stablecoin regulation—may pass the Senate as soon as Wednesday, June 11. This timeline comes after Senate Majority Whip John Thune filed cloture today on Amendment #2307. This is a key bipartisan substitute to the original bill (S.1582), and on the bill itself. Next Steps for the GENIUS Act Cloture, a procedural tool used to limit debate and force a final vote, allows 30 hours of focused Senate debate. Barring procedural delays, the chamber is expected to hold final votes on both the amendment and the…

Major crypto trading platform Bitget, headquartered in Hong Kong, has announced that it has rolled out new pairs with the Ripple USD (RLUSD) stablecoin after adding support for this recently launched Ripple product approximately a week ago. As reported by U.Today, the initial listing of the new dollar-pegged stablecoin took place on May 29. On that day, the platform launched the following trading pairs based on Ripple’s new product: RLUSD/USDT and RLUSD/USDC — Ripple’s stablecoin versus those minted by Tether and Circle. Now, Bitget has announced that new pairs have gone live for traders: BTC/RLUSD, ETH/RLUSD and XRP/RLUSD. #Bitget has…

Bitcoin miner HIVE Digital Technologies (HIVE) has surpassed 10 exahash per second (EH/s) in hashrate capacity, a 58% increase from April, driven by the launch of a 100-megawatt hydro-powered site in Paraguay. The company said in a press release on Friday that it’s on track to reach 25 EH/s by the end of 2025. The firm mined 139 bitcoin in May, or an average rate of 4.5 BTC per day. Peak capacity hit 10.4 EH/s while average hashrate for the month stood at 8.5 EH/s. HIVE said its fleet efficiency remained steady at around 20 joules per terahash (J/TH), and…

The US CPI data is out, indicating that inflation increased in May and for the first time since February. Bitcoin reacted to the news, approaching the $109,120 level. Beyond the CPI, traders and investors will also monitor US jobs data and the PPI (Producer Price Index), due for release on Thursday. Inflation Rose To 2.4% in May, US CPI Data Shows The US Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI), showing that inflation rose at an annual rate of 2.4% in May, after 2.3% Year-on-Year (YoY) in April. This is the first time CPI has increased…

AAVE has demonstrated remarkable resilience in the face of global market turbulence, rebounding from a 15% price drop over four days as buyers stepped in to capitalize on DeFi’s growing momentum. The protocol’s price climbed from $240 to above $250, buoyed by expanding tokenized yield markets that are drawing increased institutional and retail interest. The price action comes as global trade tensions and new tariff uncertainties — including reports of China violating its trade agreement with the U.S. — injected volatility across risk assets. Despite these headwinds, the DeFi sector is showing renewed strength, with total value locked (TVL) surging…

The Securities and Exchange Commission (SEC) of the U.S. revealed that the agency has started its formal review process for Bitwise’s proposed Bitcoin and Ethereum ETF, a first-of-its-kind hybrid fund that would hold both cryptocurrencies. SEC Begins Review of Bitwise ETF Proposal Filed by NYSE Arca, the ETF is designed to track the combined market value of Bitcoin (BTC) and Ethereum (ETH), with an initial allocation of roughly 83% Bitcoin and 17% Ethereum. On February 19, 2025, NYSE Arca filed a proposal with the Securities and Exchange Commission (SEC) to list and trade shares of the Bitwise Bitcoin and Ethereum…

This is a segment from The Drop newsletter. To read full editions, subscribe. Coinbase is taking action to reduce the number of users it’s locking out — and says its efforts are paying off. “Account freezing has been a major issue at Coinbase for longer than is acceptable,” Coinbase CEO Brian Armstrong said. “I could list a bunch of the underlying reasons why it got so bad in the first place, but what’s more important is that we’ve made it a priority to fix, and we have been making good progress.” Dor Levi, Coinbase VP of Product, explained that he…

Injectiveannounces the official launch of the Injective Ambassador Program. This move opens the DeFi ecosystem to more creators, developers, and community leaders ready to drive its growth. A Shift in Community Engagement Injective’s new Ambassador Program marks a turning point in its community strategy. Instead of relying on occasional contributions or loosely organized efforts, this program introduces a clear structure, consistent incentives, and roles that let every user participate based on their strengths. Eric Chen, co-founder and CEO of the Injective Foundation, stated: “We created the Injective Ambassador Program to bring together one special family of ninjas to work together,…

Over the last couple of weeks, buzz has been growing about the CLARITY Act, a proposed new framework for US crypto regulation. The bill’s first markup is scheduled for tomorrow morning. But what is the significance of this new crypto bill, and which industry players support it? New Act Brings CLARITY To Crypto Regulation Since the GENIUS Act cleared a key cloture vote, US crypto policy has been an especially important topic. In late May, GOP Congressman French Hill proposed the Digital Asset Market Clarity (CLARITY) Act, a new framework for Web3 regulation. The bill’s first markup will happen tomorrow…