Author: NBTC

The agency cancelled its August 14 Regulation Crypto meeting one day before commissioners were set to vote, citing an “unforeseen scheduling issue” that no one inside or outside the building predicted. With Congress already on recess and the CLARITY Act frozen until September, the double stall leaves every token project in America waiting for rules that neither branch of government can deliver right now. The SEC was supposed to vote on the most ambitious crypto rulemaking in the agency’s 90 year history on a Friday morning in August, and then it did not. The cancellation notice landed on the SEC…

NFTs, or non-fungible tokens, are unique digital assets that exist on a blockchain. Unlike a typical crypto token, where each unit is interchangeable with another, NFTs can represent ownership of a specific digital item, whether that is artwork, a collectable, or an in-game asset. Gaming has become one of the more natural use cases for the technology, with NFTs being used to represent characters, weapons, skins, land and other items that players can collect or trade. This gives digital items a sense of ownership that traditional games generally do not offer, where assets typically remain tied to a player’s account…

Hyperliquid Policy Center and trade[XYZ] have filed a joint comment letter with the US Securities and Exchange Commission proposing pre IPO perpetual markets as a tool to improve price discovery before public listings. The letter responds to the SEC’s request for ideas to modernize the IPO process and argues that pre IPO perpetuals, or IPOPs, could give investors and issuers a continuous public market signal before shares begin trading. Unlike private secondary markets, IPOPs do not provide ownership, voting rights, allocations, or claims against the underlying company. Instead, they give traders price exposure to an anticipated listing before the stock…

Canaan’s July mining update counted 4.96 exahashes per second from paused operations in Ethiopia inside 14.24 EH/s of global operating computing power. That means nearly 35% of the reported total came from a country where Canaan did not confirm how much capacity was hashing at month-end. Subtracting the Ethiopia row from the rounded global figure leaves 9.28 EH/s, but that is an exclusion calculation because Canaan’s July operating update defines operating computing power more broadly than a live meter. Canaan’s definition notes that operating computing power is the theoretical output of energized mining machines, assuming all were operating. The metric…

A wallet linked to the Kingdom of Bhutan has moved approximately 434.86 Bitcoin, valued at around $27.96 million, to the cryptocurrency exchange Binance. The transactions occurred over a five-hour period, marking the first activity from this address in over a month. On-Chain Data Points to Government-Linked Wallet Blockchain analytics platform Arkham identified the Binance deposit address as likely owned by Bhutan’s royal government. The address has previously transacted with other wallets associated with the Bhutanese government, according to Arkham’s labeling system. This is not the first time Bhutan has been linked to significant Bitcoin movements; the country has been known…

The Fed, as expected, kept its policy interest rate unchanged at 3.50-3.75 percent. Thus, the Fed did not change interest rates for the fifth consecutive meeting. The Federal Open Market Committee (FOMC) decision was made with a 9-3 vote. Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari, and Dallas Fed President Lorie Logan voted in favor of raising the policy rate by 25 basis points. The fact that three regional Fed presidents voted against a rate hike at the same meeting was the first time this had happened since 2016. The decision signaled that members within the Fed…

For five consecutive days, a launchpad that did not exist a month ago collected more protocol fees than Pump.fun. On its best day, NOXA took in $2.33 million while the Solana incumbent, the platform that has minted eleven million tokens and defined an entire market cycle, managed $575,500. NOXA had launched more than 60,000 tokens, captured roughly 75% of all deployments on Robinhood Chain, and pulled 267,642 unique wallets onto a network that went live on July 1. Its flagship asset, a cat themed memecoin named $CASHCAT, had run to a market capitalization of $226 million.Then the website went down.…

Galaxy Research has lowered its estimate for the likelihood of the CLARITY Act, which aims to regulate the structure of the cryptocurrency market in the US, becoming law by 2026 to 10 percent. The assessment published by Galaxy Research states that expectations had previously risen that the bill, which is progressing with bipartisan support in the Senate Banking Committee, could pass the Senate before the August recess, but political disagreements and industry lobbying have slowed the process. According to the research firm, one of the biggest obstacles to the bill was the lack of consensus on ethical guidelines for public…

Kalshi, a platform known for its prediction markets, is seeking regulatory approval to launch perpetual futures tied to U.S. stock indexes, according to a CNBC report. The company filed documents with the U.S. Commodity Futures Trading Commission (CFTC) on Aug. 18, requesting permission to offer these products to traders. What Are Perpetual Futures? Unlike standard futures contracts, perpetual futures have no expiration date. This allows traders to maintain positions indefinitely, betting on price movements without ever taking delivery of the underlying asset. Instead, the contracts use funding fees to keep the market price aligned with the underlying index. Kalshi’s proposed…

HIVE Digital Technologies booked an $84.7 million non-cash Swedish tax provision tied to contested VAT exposure after adverse court rulings led it to change its accounting assessment. Despite receiving 1,004 $BTC during the quarter, the provision helped drive a $142.9 million GAAP net loss. The current-liability label does not establish that an immediate cash payment is due, and HIVE’s filings do not disclose a payment timetable. The Swedish tax provision exceeded HIVE’s $79.1 million quarterly revenue and equaled about 40.7% of its $208 million cash balance. At Bitcoin’s intraday high of $65,058.61 on Aug. 18, the amount was equivalent to…