Author: NBTC

In a significant move for the stablecoin market, Tether has burned 2 billion $USDT tokens from its treasury. The transaction was first flagged by Whale Alert, a blockchain tracking service that monitors large cryptocurrency transfers. This burn reduces the total circulating supply of $USDT, the world’s largest stablecoin by market capitalization. What Does a Token Burn Mean for $USDT? A token burn permanently removes coins from circulation, decreasing the overall supply. For $USDT, which is pegged 1:1 to the US dollar, a burn typically occurs when Tether receives redemption requests from users or exchanges. By reducing supply, the company aims…

CME Group, the world’s leading derivatives marketplace, has introduced a new tool for Bitcoin futures traders: Basis Trade at Index Close (BTIC). This functionality allows market participants to lock in a premium or discount relative to the CME CF Bitcoin Reference Rate (BRR) rather than at a specific outright price, providing a more flexible mechanism to manage basis risk as contracts approach expiration. How BTIC works for Bitcoin futures BTIC is a well-established order type in other futures markets, such as equity index futures, but its application to Bitcoin futures is a notable development. With BTIC, traders can execute trades…

A growing number of readers are turning to educational crypto books that explain Bitcoin’s fundamentals, moving beyond price charts and market speculation. Bitcoin hit an all-time high near $69,000 in November 2021, then fell below $16,000 by November 2022, a roughly 77% drop in exactly a year. Most people who watched that swing on a chart still can’t explain why the supply is capped at 21 million, what a miner actually does, or why a network of strangers agrees on a shared ledger without a bank in the middle. Price is the easiest thing to track about Bitcoin and the…

Decentralized finance (DeFi) vault infrastructure protocol More Markets had a lending reserve drained of about $9.3 million in digital assets on Flow EVM, according to Web3 security platform Blockaid. The attacker drained about 15.5 million Wrapped Flow (WFLOW) tokens, valued by Blockaid at approximately $9.3 million, from the mFlowWFLOW lending reserve, according to blockchain data shared by Blockaid in a Monday X post. Blockaid said the attacker used Ankr Staked FLOW (ankrFLOW), a liquid staking token, alongside E-mode to overborrow from the reserve. E-mode, short for efficiency mode, is an Aave V3 feature that increases borrowing power for assets whose…

Ethereum is hovering close to $2,500, and the reason isn’t a sudden burst of retail hype. It’s the steady, quiet pull of institutional money. Nine straight days of Ethereum ETF inflows have kept demand alive even as the token slipped in the short term, and that split between price strength and cooling on-chain activity is exactly what makes this Ethereum price analysis worth a closer look right now. Key takeaways Ethereum trades near $2,500 after falling 3.60% in 24 hours, supported by nine straight days of ETF inflows. Spot Bitcoin ETFs snapped their own nine-day inflow streak with a $202…

Lynq CEO Jerald David has said institutional finance needs interoperable settlement systems capable of moving cash and collateral 24/7 as firms adopt several forms of digital money. In comments shared with crypto.news, David said the Bank of England’s latest digital pound experiment gives an early indication of how institutional markets may use several forms of digital money instead of choosing one option. “I do not expect a single form of digital money to replace all others,” David said. “Stablecoins, tokenized deposits, tokenized money market funds, potentially CBDCs, and traditional bank money are all likely to have different roles depending on…

$AVAX One interim CEO Pete Wylie has said $33 million in non-cash charges accounted for most of the company’s $35.1 million second-quarter loss as staking helped revenue rise to $2.8 million. $AVAX One interim CEO Pete Wylie told crypto.news that the reported loss did not capture the operating performance of the company’s staking, mining and digital infrastructure businesses. “The $35.1 million number can be attention-grabbing, but it does not tell the full story,” Wylie said. “It includes about $33 million of what are called non-cash charges, most of that being an unrealized markdown based on current prices for the $AVAX…

Kraken, one of the largest cryptocurrency exchanges in the United States, reported receiving approximately 12,000 small-value deposits, commonly known as a dusting attack, from a wallet associated with $HTX, formerly Huobi, according to a Bloomberg report. The incident prompted the exchange to temporarily freeze some user accounts as part of its compliance review procedures, though access has since been fully restored for most affected users. Funds that remain subject to sanctions continue to be blocked, the exchange said. What is a dusting attack and why does it matter? A dusting attack involves sending tiny amounts of cryptocurrency—often negligible in value—to…

As of July 30, BitcoinTreasuries ranked Bitcoin Standard Treasury Company fifth among public companies, displaying 30,021 $BTC worth about $1.9 billion. Its live profile labels the amount “$BTC Holdings” and “Bitcoin Reserve,” although the transaction documents describe the coins as contributions intended for a corporate treasury that has not closed on its announced terms. The picture changed on July 8. Cantor Equity Partners I (CEPO), a publicly traded SPAC, and BSTR scrapped the deal’s original terms and began discussing a new structure. The private placements fell away, CEPO postponed its shareholder meeting indefinitely, and investors got their redemption shares back.…

Almanak has publicly launched today, offering Aave users a new non-custodial workflow for creating onchain strategies. This innovation allows users to transform strategy ideas into code using plain language or Python, facilitating backtesting and paper trading against mainnet forks. This development is significant as it enhances user control and strategy deployment while maintaining wallet autonomy, which is crucial in decentralized finance. What Went Down The launch of Almanak adds a powerful tool for Aave users, enhancing their ability to engage with onchain strategies. Users can now create and simulate strategies within a single platform, increasing efficiency and control over their…