Author: NBTC

Ethena Labs’ USDe, a synthetic dollar stablecoin, has garnered significant community adoption, propelling it to become the fourth-largest stablecoin by market capitalization. This achievement comes at a notable juncture, as the stablecoin surpassed the entire Solana blockchain in revenue generation within the past week. USDe supply crosses $3 billion According to data from CryptoSlate, the supply of the USDe stablecoin has surpassed $3 billion four months after its public launch in February. This remarkable growth rate makes USDe the fastest-growing USD-pegged asset in crypto history. Its market capitalization now exceeds the Binance-favored FDUSD stablecoin and trails behind MakerDAO’s DAI. Notably,…

The IRS has set up a tax reporting framework for cryptocurrency brokers, which will be implemented in 2025. The framework does not include decentralised finance and non-hosted wallets, although rules for those will come later in the year. Under the new framework, crypto brokers, hosted wallet services, and digital asset outlets must file 1099 tax forms to document gains earned on their users’ digital assets. These assets will include coins, tokens, NFTs, and stablecoin transactions above a certain threshold. The new regime does not yet include tax reporting processes for proceeds and earnings from decentralised finance activities or non-hosted wallets,…

Cryptocurrency exchange Backpack founded by ex-FTX employees has onboarded Citibank expert to serve as its head of audit. Crypto trading platform Backpack has onboarded banking veteran Laurence King to serve as the company’s head of audit in an effort to underscore the exchange’s commitment to transparency and audit integrity. In a Jul. 2 press release, the crypto exchange highlighted King’s nearly 30 years of experience in leading audit and risk functions, most recently at Citibank where he served as head of audit in various APAC regions. King’s career also includes executive roles at Morgan Stanley, Deutsche Bank, and JP Morgan…

Las Vegas, Nevada — Indri, India’s renowned single malt whisky brand, has partnered with Virtualness, a leading blockchain and GenAI-powered authentication platform.— Each bottle of Indri’s Game of Thrones ‘House of The Dragon’ Exclusive Edition – House of Black and House of Green will feature a unique Non-Fungible Token (NFT) blockchain-enabled certificate. This certificate, accessible via a QR code on the bottle, provides instant verification of provenance and ownership. Customers can also share their certificates on social media, enhancing engagement and showcasing ownership of these coveted limited-edition bottles.”This collaboration exemplifies Indri’s commitment to innovation and delivering exceptional experiences to our…

The Bitcoin halving was supposed to be a day of celebration and the end to Bitcoin’s woes of the prior four years. On that late Friday night (and in technical, computer geek UTC time, a party-perfect date of 4/20), Bitcoin turned the page to its fifth epoch. Fans cheered the end of its 28-month-long bear market and waved goodbye to the fourth epoch’s 6.25 BTC block reward, welcoming a halved inflation rate of just 3.125 BTC per block. They hoped that the disinflationary shock might boost the price, and usher in a suite of upgrades to Bitcoin’s functionality that would…

The U.S. Securities and Exchange Commission (SEC) sued Silvergate Capital Corporation, the parent company to crypto-friendly Silvergate Bank, on Monday, alleging the bank did not meet Bank Secrecy Act/anti-money laundering regulations despite telling members of the public and shareholders that it did. The SEC also sued former CEO Alan Lane, former COO Kathleen Fraher and former COO Antonio Martino, alleging in its complaint that the bank did not conduct sufficient suspicious activity monitoring despite warnings from government examiners that its Bank Secrecy Act compliance was inadequate. “On several occasions prior to November 2022, Lane and Fraher – and through them…

Bitpanda Business, the B2B app that involves Bitpanda’s cryptocurrencies, has launched new improvements for its business clients. The new benefits are available without management fees. Bitpanda Business: what are the new features of the B2B app that involves cryptocurrencies? Bitpanda Business and the growth of the B2B app that involves cryptocurrencies The new 500,000 registered users in Q2 2024 Bitpanda Business: what are the new features of the B2B app that involves cryptocurrencies? Bitpanda Business, the B2B product of Bitpanda dedicated to companies, has introduced new improvements to its app that involves cryptocurrencies. Among other things, there is the elimination…

Miami – Propy, a trailblazer in blockchain and AI-powered real estate solutions, has announced that renowned entrepreneur Grant Cardone has listed his Golden Beach, Florida, mansion on their blockchain-based platform for $42,000,000.—This listing, which accepts cryptocurrency, marks Cardone’s first foray into proptech, showcasing his continued innovation in business and real estate.Propy’s platform revolutionizes real estate transactions by using a decentralized title registry and escrow settlement protocol, which secures land records and transaction details. This technology eliminates fraud and simplifies the home-buying process, making it faster and more secure. Buyers have the option to pay in cryptocurrency, further modernizing the real…

pSTAKE Finance, backed by Binance Labs and a prominent figure in the liquid staking sector, is set to introduce a novel liquid staking solution for Bitcoin, constructed on Babylon’s framework. This development marks a significant extension of pSTAKE’s offerings beyond its initial focus area within the Cosmos network, where it first introduced liquid staking in 2021. In a strategic partnership with Babylon, pSTAKE Finance aims to streamline the staking process, thus enabling Bitcoin holders to engage in yield-generation activities without sacrificing the liquidity of their assets. This approach is anticipated to optimize yield opportunities for users and expand the utility…

Bitget, a major cryptocurrency exchange, is collaborating with Indian regulators to secure the necessary licensing to operate in compliance with local laws. On July 3, the company announced its ongoing discussions with India’s Financial Intelligence Unit (FIU) to obtain Virtual Asset Service Provider (VASP) registration. 1/ We are aware of the current difficulty in accessing the Bitget platform in India. We’re actively exploring ways to serve the region while ensuring our platform meets the region’s compliance requirements. — Bitget India🇮🇳 (@BitgetIndia) July 3, 2024 India’s rapid growth in the crypto sector, highlighted by its leading adoption rate in 2023, according…