Author: NBTC

The New York company disclosed the stake with results for the quarter ended June 30. StablecoinX started trading as USDE on June 26, one day after closing its merger with TLGY Acquisition Corp., turning a crypto treasury into a listed stock. $ENA is Ethena’s governance token, the asset used to vote on certain protocol choices and, under Ethena’s framework, potentially capture a share of ecosystem economics. In plain terms, StablecoinX is not merely building around Ethena. It now owns a seat at the table. A Large Bet on Ethena The Ethena Foundation supplied 284.95 million $ENA tokens, while PIPE investors…

Washington Regulator Seeks License Revocation The Washington State Department of Financial Institutions (DFI) announced Sept. 3 that it had filed charges against GPD Holdings LLC, doing business as Coinflip, and CEO Benjamin Weiss. The enforcement action seeks penalties, refunds, and restrictions following alleged violations of Washington’s Uniform Money Services Act. The agency stated: “DFI seeks to revoke Coinflip’s license, prohibit the company and its responsible individual from the industry, and order the company and its responsible individual to pay a fine of $1,029,600.” The charges followed a 2025 examination that allegedly identified deficient compliance and risk management practices. DFI said…

The largest Bitcoin miners have effectively stopped selling their mined coins and switched to a strict holding mode, driven by a massive structural transformation across the entire industry. Over the past six months, public miners have collectively reduced their realized hashrate by 15%, completely shutting down around 56 EH/s of computing power. Industry reports confirm that this move was not capitulation — companies are deliberately redirecting their resources toward high-performance computing (HPC) and AI infrastructure. The “Biggest Unplug” charts clearly show who led this exodus: Cango and IREN disconnected 29.5 EH/s and 21.9 EH/s, respectively, during the first half of…

Orionx, a Chilean crypto exchange backed by USDt stablecoin issuer Tether, is shutting down after uncovering a multimillion-dollar issue linked to asset custody. The exchange said it began a permanent closure process after a forensic audit found more than $7 million in custodial assets had moved to wallets it did not manage, according to a company announcement shared on X on Thursday. “Our sole priority now is to return as much of our clients’ assets as possible,” Orionx said, adding that withdrawals are temporarily suspended. The closure comes just 15 months after Tether led Orionx’s Series A as part of…

Oxbridge Re Holdings supplied about 95% of the $781,767 raised by SurancePlus’s two T20 and T42 Solana-based placements. Those two offerings were part of the five placements behind Oxbridge’s broader $7.1 million headline, according to the company’s Aug. 13 filing. SurancePlus, Oxbridge’s 80%-owned tokenized reinsurance subsidiary, offered the two products, T20 and T42. Oxbridge contributed approximately $744,623, while third-party investors supplied approximately $37,143. Using the reported total as the denominator, the split was about 95.25% parent-funded and 4.75% third-party-funded. Oxbridge consolidates controlled subsidiaries, including SurancePlus, so the parent-funded subscription came from inside the group rather than independent investors. The filing…

The CLARITY Act, which aims to create a regulatory framework for the cryptocurrency market in the US, faces a critical date in the Senate proceedings: September 15th. According to the current schedule, the cloture vote, which would pave the way for the bill, is scheduled for the afternoon of September 15th. For the bill to continue its consideration in the Senate, it needs the support of at least 60 senators. However, the current political landscape suggests that the bill is not yet guaranteed to receive the necessary support. It has been reported that, in addition to Democratic senators, some Republican…

A resurfaced Bitcoin forum post from Sept. 7, 2010 shows just how dramatically the economics of mining have changed. At the time, one early Bitcoin user calculated that producing a single block on their home computer would cost roughly $5.68 in electricity. The block subsidy was then 50 BTC, but the miner described the setup as “a net loser.” Hindsight is 20/20 The user, TTBit, said they had connected a Kill-a-Watt electricity meter to their computer and measured power consumption at roughly 140 watts with the monitors switched off. Their machine was producing around 2,200 kilohashes per second. They estimated…

Federal Reserve researchers proposed a framework on Sept. 4 for deciding how stablecoins and other blockchain-based financial products could fit within U.S. money supply statistics. Payment stablecoins are not currently included in M1 or M2, but their future classification could depend on how households and businesses use them. The authors, Kristen Payne and Mary-Frances Styczynski, examined payment stablecoins, tokenized bank deposits and tokenized money market funds in a Federal Reserve study. They considered both the economic function of each asset and whether reliable data could be collected without counting the same money twice. The authors stressed that the paper reflects…

Cardano ($ADA), the layer-one blockchain, has officially released a phased roadmap for its upcoming ‘Dijkstra’ hard fork era, outlining key technical milestones and tentative timelines. The roadmap, published through the project’s official channels, sets a target for completing code development by the fourth quarter of 2026, followed by a mainnet upgrade preparation phase. This first phase includes an upgrade to protocol version 12 and the introduction of related features designed to enhance the network’s capabilities. Understanding the Dijkstra Era and its technical phases The Dijkstra era is named after the renowned computer scientist Edsger Dijkstra, reflecting Cardano’s focus on rigorous,…

Poland is preparing a new crypto bill after parliament failed to override President Karol Nawrocki’s veto of legislation regulating the market, according to Polish business daily Rzeczpospolita. The Finance Ministry is working on the bill draft, a Civic Coalition spokeswoman said. Polish People’s Party lawmaker Krzysztof Paszyk confirmed the effort and said the government would provide more details on the timing in the coming days. The Sejm, the lower house of the Polish parliament, on Friday voted 241 to 198, with three abstentions, against overturning the presidential veto. The result was below the three-fifths threshold required, with PiS, Confederation and…