Author: NBTC
The crypto market grew 13% in value in July, fueled by a rotation from bitcoin into altcoins, according to Binance Research’s “Monthly Market Insights” report for August. Ether (ETH) was the standout, rallying 48% as another 24 companies added the asset to their balance sheets, lifting corporate holdings by 128% to 2.7 million ETH. That’s nearly half the number held by ETFs. Binance attributed the trend to staking yield, ETH’s deflationary supply and growing comfort among companies to hold cryptocurrencies directly . Bitcoin dominance fell 5.2 percentage points to 60.6%, driven by expectations of Federal Reserve interest-rate cuts and U.S.…
Cryptocurrency exchange OKX announced in its official statement that it has published its 34th Proof of Reserves report. OKX Releases 34th Proof of Reserves Report: $33.7 Billion in Assets Verified According to the report, the reserve ratio of 22 different crypto assets listed on the platform has surpassed 100%, with the reserve ratios for major assets Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC) recorded at 106%, 104%, 105%, and 100%, respectively. The total value of these four assets has reached $33.7 billion ($33,700,118,320). The exchange announced that OKX is the first exchange in the industry to publish…
Nike Inc. and StockX, a Detroit-based online marketplace, settled a three-year case in New York federal court last Friday over sneaker-linked NFTs and trademark misuse, over half a year after a judge ruled the resale platform sold counterfeit sneakers. The settlement immediately takes a jury trial scheduled for October off the calendar, dismissing all claims with prejudice. It spares StockX the risk of a damaging verdict, while allowing Nike to avoid the uncertainty of putting its brand protection strategy before a jury. The case began in the Southern District of New York in February 2022, when Nike accused StockX of…
For anyone deeply invested in the world of digital assets, the news from the luxury sector is electrifying! Iconic fashion house Gucci is making a monumental stride into the future by announcing it will begin accepting Gucci crypto payments at select stores across the United States. This pioneering move, initially reported by SolidIntel, isn’t just a payment update; it’s a powerful validation of cryptocurrency’s growing influence and a significant moment for both luxury retail and the digital economy. Why Gucci Crypto Payments Signal a New Era? Gucci’s decision to embrace digital currencies like Ethereum (ETH) and Dogecoin (DOGE) clearly reflects…
Companies that serve as connective tissue between digital assets and legacy payments systems are getting a glow-up from stablecoins this year, according to VanEck Ventures Managing Partner Juan Lopez. As companies continue to explore new use cases with dollar-pegged tokens, those that help customers swap between cash and crypto are becoming some of the hottest targets for mergers and acquisitions, he told Decrypt in a recent interview. Although they were mostly perceived as a way to let customers easily purchase crypto in the past, Lopez said that on-and-off ramps are increasingly being viewed as valuable touch points for facilitating everyday…
Changpeng “CZ” Zhao, former CEO of Binance, has dropped a stunning prediction about the future of decentralized exchanges (DEX) in relation to centralized exchanges (CEX). CZ, who spoke at the BNBDay event in Tokyo, strongly believes that decentralized trading and artificial intelligence (AI) powered tools will dominate the finance sector. CZ sees AI integration and RWA tokenization as game-changers Zhao maintained that decentralized exchanges could one day process more trading volume in the crypto space than centralized exchanges. He suggested that centralized exchanges currently dominate the sector because of their faster transactions, user-friendly setup and more liquidity. However, with the…
Japan’s Financial Services Agency (FSA) is preparing to approve the issuance of yen-denominated stablecoins as early as this fall, marking the first time the country will allow a domestic fiat-pegged digital currency. Tokyo-based fintech firm JPYC will register as a money transfer business within the month and will lead the rollout, Japanese news outlet The Nihon Keizai Shimbun reported on Sunday. JPYC is designed to maintain a fixed value of 1 JPY = 1 yen, backed by highly liquid assets such as bank deposits and Japanese government bonds. After purchase applications from individuals or corporations, the tokens are issued via…
On Thursday, memecoin traders panicked as their sell buttons stopped working. In the Discord chat for Axiom, a popular trading platform that integrates with Solana-based memecoin generator Pump Fun, administrators admitted, “If you need to sell you can only do so on Pump Fun’s website.” Users reacted using the skull — or “dead” — emoji 166 times and threw up the middle finger emoji 44 more. Hundreds of complaints rained in as Axiom traders panicked to get out of positions, lost money, and requested refunds. Support tickets piled up beyond the abilities of normally responsive customer support agents. Screenshot of…
A recent Bank of America (BofA) Global Fund Manager Survey shows that institutional investors remain largely absent from crypto discussions. The BofA survey polled 211 managers overseeing $504 billion in assets, suggesting that crypto allocations remain more symbolic than strategic. Bank of America Survey: 97% of Big Money Still Dodges Crypto According to the August survey, an overwhelming majority of fund managers reported zero crypto exposure. Among the small fraction who do hold digital assets, the average allocation was just 3.2% of their portfolios. Vast majority of investors in BofA global fund manager survey have *zero* crypto exposure…Of small %…
Coinone launches Korea’s first Bitcoin staking, letting users earn BABY tokens flexibly. Investors could stake BTC without a lockup, deposit, or withdraw anytime during the period. Bitplanet forms South Korea’s first Bitcoin treasury, pledging $40M in immediate buys. Coinone, a notable South Korean exchange, has announced the first option to stake Bitcoin in the country. The service, unveiled on Friday, lets users earn rewards while keeping their coins accessible. Built on the Babylon protocol, which secures decentralized networks, the launch reflects both market innovation and the nation’s accelerating adoption of Bitcoin. The service allows investors to stake Bitcoin while maintaining…