Author: NBTC

The Securities and Exchange Commission has finally admitted what we’ve known all along: “Crypto asset security” was a made-up term with no legal basis. After years of misleading the courts and the public, the agency’s quiet abandonment of the term signals a major retreat in its regulation by enforcement campaign against the digital asset industry. Rather than putting out proactive or helpful guidance in recent years, the SEC has been suing industry participants in a thinly veiled attempt to kill crypto. So far, it isn’t going well. If there was any doubt that the SEC’s approach is destined for failure,…

WisdomTree introduces a new feature that lets users spend from their tokenized money market fund using a debit card. Global exchange-traded fund provider WisdomTree has launched a new feature enabling users to spend directly from their tokenized government money market fund using the WisdomTree prime Visa debit card. In a press release on Oct. 9, the company said the integration allows consumers to leverage their yield-bearing investments for everyday purchases, effectively transforming how they manage their finances. You might also like: Australia’s ANZ joins Project Guardian on tokenized assets With a current 7-day yield of 4.60%, the WTGXX fund serves…

Prosecutors have requested that Heather Morgan – better known by her rap moniker “Razzlekhan” – be sentenced to just 18 months behind bars for her role in laundering 120,000 bitcoins stolen from Bitfinex in a 2016 hack. In August 2023, Morgan pleaded guilty to one count of money laundering conspiracy and one count of conspiracy to defraud the United States, each of which carries a maximum sentence of five years in prison. Though Morgan and her husband Ilya Lichtenstein were first believed to only have laundered the proceeds of the hack (worth approximately $7.5 billion at today’s value), Lichtenstein later…

Bitcoin closed September in the green, historically leading to gains in following months. Crypto analyst Jelle highlights Bitcoin’s past September surges, predicting a bullish end to 2024. Analyst Captain Faibik predicts Bitcoin could test the $68,000 resistance level soon. Bitcoin (BTC) has had a standout September, closing the month in the green, and historical patterns suggest this could be a positive sign for the coming months. According to crypto analyst Jelle, Bitcoin (BTC) may be poised for significant gains as the year progresses, this insight draws on past market behavior and current trends. September’s Green Effect Historically, when Bitcoin’s price…

World Liberty Financial, the nascent decentralized finance (DeFi) protocol supported by Donald Trump and his family, announced plans to start selling tokens on Tuesday – exactly three weeks before the presidential election for which Donald Trump is the Republican candidate. “Public sale starts [on] October 15th, open to everyone who qualifies through the whitelist,” the project’s social media account posted on Friday. Bettors on blockchain-based prediction market Polymarket see Donald Trump as the frontrunner in the presidential election taking place on Nov. 5. World Liberty Financial is spearheaded by Zachary Folkman and Chase Herro, who worked previously on DeFi platform…

Shiba Inu lead Shytoshi Kusama reacts to an NFT commercial from automobile manufacturer DeLorean featuring a Shiba Inu. The crypto scene and pop culture recently collided in a unique way, as “Back to the Future” star Christopher Lloyd appeared in a DeLorean NFT commercial that also featured a Shiba Inu dog. This cameo didn’t go unnoticed by Shytoshi Kusama, the Shiba Inu lead developer, who took to X to express his excitement. Kusama Reacts to Shiba Inu Feature In a post, Kusama reacted with enthusiasm to the commercial, which he saw as a nod to the growing influence of the…

Boston-based asset management and banking giant State Street (STT) is working on bond and money market fund tokenization, but has no imminent plans to create a stablecoin or tokenized deposits, according to a bank executive. “We don’t have a current plan to issue a stablecoin or tokenise a deposit,” said Donna Milrod, the bank’s chief product officer, in an interview with Financial News. “That doesn’t mean we won’t at some point, but we don’t feel the need to do that right now.” A July report by Bloomberg said State Street was exploring crafting a stablecoin and developing tokenized deposits. Instead,…

Leading blockchain payments company Ripple issues a new public service announcement (PSA), notifying the general public that its stablecoin, Ripple USD (RLUSD), is still in private beta. Ripple noted that although network participants have seen some interesting on-chain activity related to RLUSD, the stablecoin is not yet available for public use. The company warned users to be wary of scammers, emphasizing that any claims of RLUSD distribution are likely scams. Furthermore, Ripple encouraged crypto enthusiasts to watch for official updates and be wary of potential scams. Growing Speculation Amid Surge in RLUSD Minting Ripple’s latest message about RLUSD comes amid…

On October 9, the U.S. Securities and Exchange Commission (SEC) commissioner Mark Uyeda opined that the agency’s approach to the crypto industry has been a disaster. Uyeda criticized what he sees as ‘enforcing policy without providing clear guidance’, an approach that has bogged down the industry in lawsuits while engendering an atmosphere of uncertainty for investors, when speaking in an interview on Fox Business. I think our policies and our approach over the last several years have been just really a disaster for the whole industry. Commissioner Uyeda is right: The SEC’s crypto policies have been a disaster for the…

Mike Sires, a military veteran from Dublin, Ohio, has developed AuthLN, a proof-of-work authentication protocol that aims to reduce cybercrime by introducing a financial cost to unauthorized login attempts. Drawing on his experience with Bitcoin and inspiration from Jason Lowery’s “Softwar” thesis, Sires seeks to make cyberattacks unprofitable by leveraging the Bitcoin Lightning Network. Sires was introduced to Bitcoin in 2023 after reading Lowery’s thesis, which presents Bitcoin as more than just a financial innovation but as a critical technology for national security and power projection in cyberspace. The thesis argues that Bitcoin’s proof-of-work mechanism allows for the projection of…