Author: NBTC

Galaxy Research Head of Research Alex Thorn stated that there has been a significant shift in the regulatory approach to cryptocurrency markets in the US. According to Thorn’s assessment, the new digital asset classification guidance published by the SEC and CFTC signals the effective end of the long-criticized “Gensler era” regulatory approach. The published guidance provides a clearer framework for the sector by classifying digital assets under five main categories. Accordingly, digital assets are categorized as: digital commodities, digital collectibles, digital utility assets, stablecoins, and digital securities. A particularly noteworthy point in the regulation is that only assets falling into…

Onchain perpetual futures linked to real-world commodities like precious metals and oil have surged in trading volume, signaling an investor rotation from altcoins to commodity-linked digital assets, according to a report published Thursday by digital asset bank Sygnum. Trading volume for oil and precious metals perpetual futures markets on the Hyperliquid decentralized exchange (DEX) accounts for over 67% of HIP-3 contracts in Q1 2026, also known as “Builder-Deployed Perpetuals,” on the Hyperliquid platform, according to the report. Previously, indexes accounted for about 90% of HIP-3 trading activity, but this has fallen to about 17%, according to Sygnum. HIP-3 trading volumes…

Tether, the crypto firm behind the world’s most popular stablecoin $USDT$0.9995, continued its gold hoarding over the past month, ranking within the top 30 global owners of the metal and surpassing several sovereign nations, according to a Sunday report from Wall Street investment bank Jefferies. The stablecoin issuer’s gold reserves rose to an estimated 148 tonnes by Jan. 31, valued at roughly $23 billion, after buying about 26 tonnes in the last quarter of 2025 and adding another 6 tonnes in January, Jefferies analysts said. Jefferies estimates show Tether’s quarterly gold buying exceeded that of most individual central banks, trailing…

A much-anticipated tentative agreement on stablecoin rewards has breathed new life into the stalled CLARITY Act. However, industry experts are warning that the landmark cryptocurrency legislation still faces a ticking clock and a minefield of unresolved issues. Last week, key lawmakers and the White House reached an “agreement in principle” to resolve the much-talked-about clash between traditional banks and the digital asset industry. However, according to Alex Thorn, head of firmwide research at Galaxy Digital, the crypto industry should hold off on celebrating (at least for now). A much-needed compromise Since January, the CLARITY Act has been stalled in the…

World of Elements, a free-to-play 2D RPG built on Neo N3, released its Early Access v1.12 update on March 28, adding a skill tree system, new location Hubitz, and additional quests, items, and monsters. The update follows v1.1 in December 2025, which introduced a Christmas event, new map areas, and quest tracking improvements. World of Elements is developed by Frank, creator of FrankCoin on Neo, and draws inspiration from classic RPGs like Secret of Mana and Final Fantasy. Skill trees and new content The main addition in v1.12 is a skill tree system, giving players a new progression mechanic alongside…

StoneX, the operator of the retail CFD and forex trading platform Forex.com, has launched a new Securitization Banking, Lending & Capital Markets platform, expanding its institutional services in structured finance and capital formation. Singapore Summit: Meet the largest APAC brokers you know (and those you still don’t!). The platform will offer clients capital markets solutions, lending capabilities, and investment opportunities across multiple asset classes. The firm said the launch is intended to expand its role in the institutional credit market and offer clients additional liquidity and financing. Building on this institutional focus, StoneX Digital, part of StoneX Group, has introduced…

Proposed U.S. tariffs tied to Iran-linked trade could ripple through global supply chains, lifting import costs and worsening household affordability as China’s central role magnifies indirect exposure under President Trump’s evolving sanctions strategy. Schiff Warns Iran-Linked Tariffs Could Push Prices Higher Economist and gold advocate Peter Schiff shared on social media platform X on Feb. 8 a warning about potential tariff escalation under President Donald Trump, arguing that proposed penalties tied to Iran-linked trade could intensify cost pressures for U.S. consumers. He stated: “Trump threatened to hit Americans with 25% tariffs on imports from countries that directly or indirectly do…

OKX does not plan to rush into public markets in the U.S., even as the crypto exchange pushes deeper into global expansion and tokenized finance. “We will go public when we have confidence that we can give back shareholder value,” said Haider Rafique, the firm’s general manager and chief marketing officer, during a conversation at the Digital Asset Summit in New York on Thursday. “If we are not confident that we can do that, I don’t think there’s going to be any desire for us to go into the public markets.” The stance comes as OKX recently secured a strategic…

China offset its $456 billion liquidity pressure by having the PBoC inject nearly $87 billion to ward off the anticipated seasonal cash crunch during the Lunar New Year. The PBoC has also reduced its medium-term lending facility by 10 bps to 1.4%, down from January’s 1.5% to revive economic growth. The People’s Bank of China (PBoC) responded to the anticipated seasonal cash crunch ahead of the Lunar New Year by boosting the supply of money, with China’s Industrial Securities noting that the surge in cash demand followed a predictable trend in household behavior. The Chinese central bank is hoping to…

The U.S. Securities and Exchange Commission and Commodity Futures Trading Commission published interpretive guidance explaining how they might define what is or isn’t a security in crypto; the CFTC also issued a no-action letter for a non-custodial wallet provider to facilitate derivatives and prediction markets transactions; Arizona is filing criminal charges against a prediction market provider; and by the way we kind-of-sort-of have hints of movement on market structure legislation. What a week, huh? You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions. The narrative…