Author: NBTC

Bradley Tusk, CEO of Tusk Ventures, recently voiced sharp criticism of the U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler. Specifically, he called him the “single worst regulator in the history of crypto imaginable.” Tusk, whose firm has invested in major crypto players such as Coinbase, Circle, and FanDuel, expressed frustration over Gensler’s handling of cryptocurrency regulations. Speaking on CNBC, Tusk highlighted the difficulties crypto investors have faced under Gensler’s leadership. He noted that the ambiguity around what is or isn’t considered legal in crypto has suppressed innovation. “It’s one thing to say, ‘This is okay, this is not…

Hong Kong’s biggest licensed crypto exchange operator, HashKey, has postponed the launch of its HSK token, citing the need to wait “for more favorable market conditions.” HashKey Group, which operates the Hong Kong-based crypto exchange, is postponing the launch of its HSK token, saying the crypto market’s overall performance has been “relatively subdued over the past three months.” In an X announcement on Oct. 15, the Hong Kong-based firm did not elaborate on the reasons for the delay, but emphasized that waiting for a “better opportunity” to complete HSK’s token generation event is “crucial in this environment.” “Rushed listings do…

Bloomberg Terminal has just shared on the X platform that data provided by CME FEDWATCH shows that odds of a high interest rate have surpassed 50%. This week, on September 18, the FOMC is to hold a scheduled meeting on which a decision about bringing down the interest rates is expected to be made. According to the data from CME FEDWATCH, the probability bet on a 50 basic points rate cut now comprises 63%, the chances of a 25 basic point cut equal 37%. 🔸 CME FEDWATCH SHOWS 63% PROBABILITY BET ON 50BPS CUT, 37% FOR 25BPS AT SEPT 18…

Crypto VCs invested $2.4 billion in the third quarter of 2024, a 20% drop compared to the third quarter. The industry is on track to barely get more funding than in 2023. High interest rates, spot crypto ETFs, and the hangover from 2022 are keeping allocators away from the industry. Crypto venture capital activity has remained quiet in 2024, in particular during the third quarter. Venture capital firms invested $2.4 billion in cryptocurrency startups this quarter across 478 deals, according to a new report from crypto investment firm Galaxy Digital. That’s a 20% drop from the second quarter of the…

Today, enjoy the Lightspeed newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Lightspeed newsletter. There’s been much made of Solana’s DeFi resurgence that has put it neck-and-neck with Ethereum in multiple key metrics. But by one count, Ethereum is now pulling meaningfully ahead of the next-biggest smart contract blockchain. Total economic value (TEV) is a Blockworks Research-created stat that measures a blockchain’s transaction fees and maximal extractible value (MEV) tips. This can be thought of like the income a blockchain receives, and it’s a helpful counterpoint to active addresses — a mostly-meaningless measure…

Ireland is set to draft new rules governing cryptocurrency, ahead of the European Union’s (EU) new package of laws aimed at cracking down on money laundering and terrorist financing. Finance Minister Jack Chambers is set to draft “urgent” legislation to update the country’s crypto regulations, according to reporting by The Irish Examiner. But the Minister didn’t give any clear hints as to what these rules would consist of, or when they will come into effect. Chambers, appointed to the role in June 2024, has little prior history as a crypto regulator. The Anti-Money Laundering and Countering the Financing of Terrorism…

Kazakhstan’s financial watchdog is set to implement new restrictions that would require banks to automatically deny banking transfers to overseas crypto exchanges. The Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market, which oversees the country’s financial sector, is considering new measures that would require banks to deny transfers to overseas crypto exchanges that have not registered with the local financial center. According to a Wednesday report from Russian state-led news outlet TASS, in addition to transfer limits to crypto exchanges, the regulator’s draft also proposes restricting transactions involving online casinos and forbidding operators from accepting…

In a significant move towards adoption of cryptocurrency, Garanti BBVA, the second largest bank in Turkey, has expanded its crypto mobile app to include support for XRP. The bank, which boasts consolidated assets of approximately $76 billion disclosed this development on its official website. 🚨 BREAKING: GARANTI BBVA, THE SECOND-LARGEST PRIVATE BANK IN TURKEY HAS EXPANDED ITS CRYPTO MOBILE APP OFFERING TO INCLUDE #XRP 🇹🇷https://t.co/2VNFCVNsju pic.twitter.com/9dH5GdFOvZ — 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) September 26, 2024 Reaction from Ripple (XRP) Community The announcement drew attention from XRP community and WrathofKahneman on X post stated that Garanti BBVA is committed to integrating new cryptocurrencies into…

Italy is preparing to increase the capital gains tax on Bitcoin and other cryptocurrencies to 42%, according to Deputy Finance Minister Maurizio Leo, who shared the news during an Oct. 16 conference. Leo explained that as cryptocurrencies, particularly Bitcoin, gain popularity, the government anticipates raising the withholding tax rate from its current 26% to 42%. According to a translation of his statement: “As this phenomenon (bitcoin) is spreading we expect the withholding tax to increase from 26% to 42%.” This proposed tax hike could position Italy among the countries with the highest crypto taxation globally. Meanwhile, this new tax plan…

Crypto payments firm MoonPay is partnering with Ripple to bring direct XRP purchases to its customers. MoonPay shared news of the partnership on X on Oct. 16, noting that its customers can now “buy, manage and store” the XRP (XRP) cryptocurrency right within their MoonPay accounts. XRP joins other popular crypto assets that MoonPay users can buy and sell directly from the app, including Bitcoin (BTC), Ethereum (ETH) and the stablecoin Tether (USDT). The app also allows customers to swap certain cryptocurrencies, including across chains. Read more: Ripple backs $25m round for crypto platform Bitnomial Users can buy crypto using…