Author: NBTC

Ethereum faced steep losses Friday after a security breach at Bybit drained an estimated $1.4 billion from the exchange. Ethereum Faces 2.6K Low Following the Hack—Can Recovery Hold? Bybit’s CEO confirmed on Feb. 21, 2025, that the platform lost a large portion of its crypto reserves in the attack, which targeted ETH, mETH and stETH holdings. The incident sent Ethereum’s value tumbling, with prices dropping sharply in its wake. Ether (ETH) plunged to $2,675 immediately after the breach but later rebounded to $2,763. Before the hack was disclosed, ETH had traded at $2,837. Derivatives markets mirrored the chaos: Within one…

According to a new survey of FTX creditors, 79% plan to reinvest their payments into crypto. More than half of them plan to buy Solana, and meme coins and AI tokens are also popular. However, a deeper look into the survey’s methodology suggests a strong bias toward Solana enthusiasts. While some participants may have a genuine interest in other assets, their preferences might not reflect the broader sentiment of all FTX creditors. FTX Creditors are Likely to Reinvest Funds into Crypto Since the FTX collapse in 2022, the residual fallout has left deep marks on the crypto space. Earlier this…

Spirit Blockchain Capital, a blockchain-focused investment firm publicly traded on the Canadian Securities Exchange, has announced a yield generation strategy targeting its Dogecoin holdings. The announcement follows Spirit’s recent acquisition of Dogecoin Portfolio Holdings Corp., a blockchain startup focused on Dogecoin (DOGE) and related assets. Dogecoin Portfolio Holdings operates independently of the meme coin’s core blockchain operations but manages a portfolio aimed at creating value within the Dogecoin ecosystem. Spirit Blockchain Capital’s operations include cryptocurrency investments, blockchain advisory and consulting, crypto mining, and lending. The Dogecoin initiative forms part of the company’s efforts to maximize the utility and performance of…

Kraken exchange is getting ready to rejoin the Indian market after being banned in 2024 for violating anti-money laundering laws. The exchange has been working with local authorities to secure the permits required to resume operations. According to a news reporting by The Economic Times, Kraken has appointed Vishesh Khurana, co-founder of Shiprocket and managing partner at Tribe Capital India, as an advisor to lead its India expansion efforts. Arjun Sethi, founder of Tribe Capital and Kraken’s co-CEO, is expected to play a key role in shaping the exchange’s strategy in the country. Nine offshore exchanges, including Kraken, were blacklisted…

Amid broad market uncertainty over the past two weeks, there have been lingering questions over Bitcoin‘s price trajectory. Following the Federal Reserve’s projections of fewer than previously expected interest rate cuts in 2025, the asset has dropped from highs above the $106,000 price point to lows around the $92,000 price point, raising questions among some about the continuation of its bull run. Recently, one prominent market analyst has suggested that despite the growing uncertainty, Bitcoin could be replicating a pattern that it often has in parabolic runs while noting that a deeper correction may be required before a rally to…

The Bybit Hack has shaken the market today, with over $1.46 billion in ETH stolen, marking one of the largest security breaches in history. As the stolen assets are being liquidated, Ethereum’s price dropped by 5% in a straight line, impacting key technical indicators. Speculation is growing about Bybit’s next moves, with some suggesting a potential market buyback to compensate users, which could create significant buying pressure. However, it remains uncertain how Ethereum’s price will behave in the coming days as the situation continues to unfold. Will Bybit Hack Lead to a Strong Buyback? Earlier today, one of the largest…

The cryptocurrency exchange-traded funds (ETFs) sector has witnessed notable outflows across both Bitcoin and Ethereum, signaling potential shifts in investor sentiment and market movements. The latest data reveals that Bitcoin ETFs have experienced a significant net outflow, totaling 2,744 BTC (valued at approximately $270.93 million), while Ethereum ETFs have seen a net outflow of 3,148 ETH (roughly $8.83 million). These figures reflect the broader trends impacting both digital assets, with key players like iShares (BlackRock) for Bitcoin and Grayscale for Ethereum being particularly affected. Feb 21 Update:10 #Bitcoin ETFsNetFlow: -2,744 $BTC(-$270.93M)🔴#iShares(Blackrock) outflows 1,137 $BTC($112.26M) and currently holds 586,641 $BTC($57.93B).9 #Ethereum…

VeChain has been cited in the latest academic research as a renowned technology used to effectively track the journey of medicinal products from cultivation to consumption. The study mentioned the recent use of VeChain to trace and verify the authenticity of wine products. VeChain (VET) has earned another mention in a high-profile academic study titled “Exploring the Blockchain’s Green Revolution in Medicinal Plant Supply Chains.” According to the document shared by crypto researcher Eisenreich, blockchain could be integrated into the cultivation, farming, conservation, and propagation of medicinal plants and organic farming to provide transformative solutions to address important challenges in…

Immutable has announced plans to launch a new blockchain game dubbed “REVENGE” on its highly recognized Web3 gaming platform. Immutable is a major cryptocurrency firm that develops blockchain games and NFTs. Register now for Early Access to @_GETREVENGE_ on Immutable.Pre-Alpha launches Q1 2025.pic.twitter.com/eGoTvzxTzJ — Immutable (@Immutable) February 22, 2025 REVENGE game launch in March The development follows Immutable’s partnership with Everreach Labs to launch the REVENGE crypto game on the Immutable Web3 gaming platform. According to the report, the two companies will launch the REVENGE pre-alpha release in Q1 2025. With the release, the crypto game will be available on…

Qualified cryptocurrency custodians BitGo and Copper, the firm behind the ClearLoop settlement system, are providing off-exchange settlement for traders using options exchange Deribit, the firms said on Thursday. Clients of BitGo and Copper can now trade spot and derivatives on Deribit while assets are secured off-exchange in qualified custody with BitGo Trust, and automatically settled leveraging Copper ClearLoop and the Go Network, according to a press release. In a post-FTX world traders are looking to reduce the risks associated with leaving assets on exchanges where possible. BitGo and Copper announced a partnership two years ago to trade on exchanges while…