News

The Kingdom of Bhutan now has the fourth-largest government holdings of BitcoinBitcoin, with a stash of over 13,000 BTC—valued at $750 million, says blockchain analytics firm Arkham Intelligence. The Bitcoin stash, managed by the country’s state investment arm, Druk Holding & Investments (DHI), places the Himalayan kingdom ahead of even El Salvador, which holds 5,876 BTC worth $331 million, per Arkham. BREAKING: BHUTAN GOVERNMENT’S $750M BTC NOW ON ARKHAM Bhutan’s Bitcoin holdings are now label...

Yellow Network, a decentralized clearing network for digital assets, has closed a $10 million seed round led by Ripple co-founder Chris Larsen. The company said it'll use the fund to help the company address key challenges in decentralized finance (DeFi) trading, including liquidity fragmentation, scalability, and counterparty risks. Other notable investors include leading Ethereum developer Consensys, trading firm GSR, and crypto native VC firm Moonrock Capital. Speaking with Decrypt, Larsen sa...

The Sui Foundation unveiled a partnership with MoviePass on Tuesday, with a team-up that will eventually let users of the layer-1 network pay for subscriptions to the cinema service using stablecoins. Meanwhile, the Sui Foundation, which is responsible for managing and developing the blockchain launched last year, said it was taking an “equity stake” in MoviePass. The partnership was announced at Token 2049, a crypto conference in Singapore. MoviePass was started in 2011, and the company rose to...

U.S. Securities and Exchange (SEC) Commissioners Hester Peirce and Mark Uyeda have slammed the SEC over an "endless series of misguided and overreaching cases" in a recent statement. The dissenting commissioners pointed to the SEC’s treatment of Flyfish Club, LLC, a "high end" restaurant chain that recently settled with the SEC. Flyfish Club sold NFTs during 2021 and 2022  to provide members an exclusive way to access a yet-to-be-built restaurant and bar ahead of its opening. Earlier this week,...

The Stacks Bitcoin Layer-2 protocol is integrating with the Aptos Network, allowing Bitcoin to be used across decentralized applications (dApps) and real-world use cases on the Layer 1 blockchain. Through this integration, sBTC, a 1:1 Bitcoin-backed token, will enable the secure movement of Bitcoin onto Aptos' Layer 1 blockchain. The integration marks a step forward for Stacks, following the conclusion of a U.S. Securities and Exchange Commission (SEC) investigation. In July 2024, the SEC called...

PiP World, an educational crypto gaming startup, is launching its first Telegram game Gold Rush in beta on Wednesday. The move comes amid the explosion of Telegram gaming, with leading game Hamster Kombat reportedly amassing over 300 million users alongside other games that have drawn in crowds tempted by a token airdrop. Gold Rush, however, takes the viral tap-to-earn genre driving the Telegram craze and adds an educational spin. Players will be asked to tap their screens over and over, earning...

The crypto market is treading water ahead of a critical U.S. Federal Reserve interest rate decision on Wednesday, with Bitcoin (BTC) trading at $58,500, down 0.2%, and Ethereum (ETH) up slightly by 0.3% to $2,305. Experts are raising red flags about Bitcoin's resistance levels and the potential for volatility, particularly as the market is divided on whether the Fed will opt for a 25-basis point or 50-basis point rate cut, a key factor influencing market sentiment. In a note sent to Decrypt, ana...