Author: NBTC

Pseudonymous analyst Car has written a rebuttal to the Bloomberg report on alleged insider trading that flagged specific wallets and labeled tens of millions in trading volume as suspicious. Car’s thread highlighted what he says are several problems with Bloomberg’s methodology. The analyst stated that the publication overstated winnings and misread on-chain data to build a case that doesn’t hold up. What did Car say is wrong about Bloomberg’s report? Car stated that the flaws in Bloomberg’s report started from relying on data from Polysights, a blockchain analytics tool that flags $45 million in volume on Trump-related markets as suspicious…

Bitcoin enters the weekend near $60,000 after sticky inflation, heavy ETF outflows, and a failed defense of the $59,000-$62,000 zone. The May PCE print gave the market a reason to sell, but the real damage came from positioning. Core PCE came in at 3.4% year over year, above the Fed’s 2% target but broadly in line with economists’ expectations. The June 26 options expiry is the structurally heavier event, with Deribit data showing over $10.6 billion in $BTC options expiring, with roughly 80% of that open interest out of the money and max pain sitting in the low $70,000s. With…

Baillie Gifford, a 118-year-old investment firm based in the Scottish capital of Edinburgh, unveiled a fixed-income tokenized fund in association with global custody giant BNY, the companies said on Monday. Baillie Gifford Enhanced Yield Fund (BAGEY) is denominated in dollars, and gives eligible investors access to an actively managed, short-duration portfolio of public corporate bonds using the Ethereum and Solana public blockchains, according to a press release. The fund is operated through a U.K.-regulated Open-Ended Investment Company (OEIC), a type of collective investment fund structured as a limited liability company that spreads capital from multiple investors across equities or bonds.…

Delegates to the $ENS DAO escalated opposition to a governance proposal that would hand the $ENS Foundation broad control over the protocol’s treasury Monday, with one Security Council member calling it a governance attack and $ENS Labs founder Nick Johnson having already self-delegated enough tokens to pass the measure over their objections. The temp check, published Thursday by katherine.eth, Katherine Wu, COO of $ENS Labs, would shift management of the DAO’s operational wallet, its $ENS token holdings, and the Endowment managed by Karpatkey to a five-seat Foundation board. As The Defiant reported Friday, the proposal retains on-chain tokenholder authority over…

The European Union will impose a bloc-wide €10,000 limit on cash payments for goods and services from 10 July 2027 under new anti-money laundering rules. The measure, known as Regulation (EU) 2024/1624, is designed to curb illicit finance by harmonizing cash transaction limits across the EU, while allowing individual member states to adopt even stricter thresholds. The regulation also introduces sweeping changes for crypto and other high-risk sectors. It imposes new identity verification requirements for crypto transactions, effectively bars regulated providers from handling privacy coins, and extends AML obligations to crypto firms, football clubs, crowdfunding platforms, investment migration operators, and…

Jake Chervinsky has accused CME Group of using a lawsuit against U.S. crypto perpetual futures to protect its position in a market where the exchange reportedly controls about 92% of exchange-traded derivatives volume. According to Jake Chervinsky, chief executive of the Hyperliquid Policy Center, CME’s legal challenge against the U.S. Commodity Futures Trading Commission has exposed what he views as resistance to growing competition in the derivatives market. In a June 19 post on X, Chervinsky called CME’s lawsuit against the CFTC a “shocking miscalculation” and “an unforced error.” He wrote that the exchange had revealed itself as “a petty…

Amid the persistent crypto market downturn, the Bitcoin ETF market has remained heavily affected as it has continued to record steady daily outflows for several months. While investors expected the downside pressure to ease off following the mild outflows seen last week, it has only gotten worse this time, as Bitcoin just recorded its biggest weekly ETF outflow since launch, according to data from SosoValue. Institutional investors withdrew $1.79 billion from Bitcoin funds Per data provided by the source as of July 26, a total of $1.79 billion has been withdrawn from the Bitcoin ETF market over the last week.…

Crypto trading app Fomo has raised $75 million in a Series B funding round led by Index Ventures as the company looks to expand beyond digital asset trading. The round valued Fomo at $550 million and included participation from Union Square Ventures and existing investor Benchmark. Angel investors included Zynga cofounder Mark Pincus, Discord CEO Humam Sakhnini and Eventbrite cofounder Kevin Hartz. The latest raise brings Fomo’s total disclosed funding to roughly $94 million. The company previously secured a $17 million Series A led by Benchmark in November 2025, bringing its funding at the time to $19 million. Fomo plans…

Synthetix founder Kain Warwick has acknowledged that sUSD has been depegged for over a year, taken personal responsibility for treasury mismanagement, and published a detailed thread this morning explaining the path forward: winding down the $SNX-backed stablecoin and replacing it with a basis-vault-backed instrument powered by the protocol’s new v4 exchange. Warwick’s eleven-tweet thread follows governance’s passage of SIP-423, covered earlier today by The Defiant, which would freeze the sUSD contract and pay holders four $SNX per sUSD. In the thread, Warwick goes further than the SIP itself, framing the depeg as a multi-factor failure and detailing the reasoning behind…

A leading U.S. banking industry group has criticized the CLARITY Act’s approach to anti-money laundering compliance. It argues that the proposed crypto market structure bill leaves significant gaps across decentralized finance and other digital asset services. In a policy update published on June 19, the Bank Policy Institute [BPI] said the legislation would create a “lighter-touch AML regime” by applying anti-money laundering obligations only to certain digital asset brokers, dealers, and exchanges, while leaving other parts of the crypto ecosystem outside the framework. “This bill is not innovation-friendly; it is illicit finance-friendly,” the organization wrote. The comments come as lawmakers…