Chain News by Thebittimes.Com

Stablecoin Development Corp, which has been trading around a minimal $50 million marketcap for months, has suddenly seen its price jump tenfold in a matter of two weeks for absolutely no reason whatsoever. Tether is a major investor in the company, whose primary business appears to be earning interest off of USDS — not a necessarily lucrative business opportunity. While the $50 million market cap for Stablecoin Development Corp was perhaps low for a company with over $150 million in assets and little debt, the company was, for a brief moment in time, trading at nearly $10 today — a $500 million market cap for a stablecoin treasury company with far less than $500 million in assets. Its stock has since fallen to roughly $4.50 per share , also on no news. Tether has publicly listed a company that partially controls USDS Read more: What the Tether audit means for the crypto industry Short sellers can’t short, Tether warrants due soon While sh...

California Governor Gavin Newsom signed a bill on Sunday that bans state public officials from launching memecoins. In addition to the ban on state officials, California Assembly Bill 2409 also prohibits crypto service providers from offering California residents the sale of any memecoin launched in association with federal, state or local public officials. That second stipulation applies to memecoins issued on or after January 1, 2027. Newsom, considered a prominent potential Democratic presidential candidate in 2028, targeted President Donald Trump in a press release announcing the bill’s signature. “While the scam that is Donald Trump continues to hurt American families, California is fighting to make our economy work for people, not the powerful. No official should profit off their office — and we’re putting stronger protections in place to ensure it doesn’t happen in our state.” Trump controversially launched the “Official Trump” memecoi...

Cryptocurrency prediction markets are signaling a bullish XRP outlook for October 1, 2026, with traders expecting the token to hold near current levels but still below the $2 mark.  This comes after XRP staged a strong rebound to trade at $1.49 as of press time, up about 8% in the last 24 hours.  XRP price prediction. Source: Polymarket Regarding the cryptocurrency’s price outlook, data from Polymarket’s October 1 market shows participants expect XRP to remain above $1.20, with a 56% probability assigned to that outcome. The next most likely scenario is XRP staying above $1.80, which carries a 17% chance. The market has assigned a 6% probability to XRP reaching at least $2 by October 1. More aggressive upside targets carry significantly lower odds, with a move to $2.20 assigned a 2% probability and higher levels attracting minimal market support. On the downside, traders see limited risk of a major sell-off over the coming days. To this end, con...

Back in June, proof-of-reserves for Justin Sun-owned HTX revealed a roughly-700 million drop in the quantity of TRX held at the exchange. At today’s prices, these 700 million tokens are worth about $238 million. A substantial portion of these assets ended up flowing into an address that supports Sun-owned Poloniex’s Super Representative, while some went to Binance. Large drop in HTX TRX in June PoR . Since then, HTX has been sanctioned by the European Union and the United Kingdom Foreign, Commonwealth & Development Office, making the location of HTX funds extraordinarily important. Additionally, in the same proof-of-reserves where it disclosed the drop in TRX, it also reduced its disclosure for over $1 billion worth of other assets, now pointing towards an undisclosed “ThirdParty” custodian. Protos was previously able to track a large portion of HTX’s Ethereum reserves to Poloniex. Is Justin Sun mixing HTX’s res...

As the AI hype train rumbles on, venture capitalists and private equity are pouring more and more money into sillier and sillier ideas. Recently, Starcloud, a data centers-in-space company, has received nearly half a billion dollars in funding and over a $2 billion valuation for an idea that already seems almost impossible to execute — and it just made it even stupider. Starcloud has decided to begin mining BTC in space. Whether you like Bitcoin or hate it, this is crazy. One of the most important aspects of BTC mining has been, and always will be, the ability to obtain the cheapest energy for running miners. Sometimes this means that mining companies will completely abandon previously profitable locations for new locations, sometimes it will mean replacing every miner they’re currently running, and occasionally it means completely altering the type of energy being utilized (instead of solar, resorting to coal or natural gas, using hydro or wind instead of c...

After months of decline, August offered a glimpse that the cryptocurrency bear market might be at its end, as rising digital asset prices led to a large increase in the number of addresses holding more than $1 million worth of Bitcoin (BTC). Specifically, data compiled by Finbold and retrieved from BitInfoCharts , as well as from the same source using the Wayback Machine , shows that, in late July, there was a total of 111,846 addresses with more than $1 million worth of BTC. At press time on August 31, there are 123,482 such wallets, meaning there has been a 10.4% increase – 11,636 new Bitcoin millionaires. This increase was also visible among the larger whales. Late last month, the number of addresses with more than $10 million worth of the cryptocurrency stood at 14,009 and, at the tail end of August, it is at 15,584. Under the circumstances, the number of such Bitcoin multi-millionaires rose by 1,575 – a 11.24% increase.  Bitcoin millionair...