Author: NBTC

The odds of the U.S. Securities and Exchange Commission’s accepting a spot Solana exchange-traded fund are rising. According to Polymarket, the odds of a SOL ETF approval have risen to 71%, up from this week’s low of 58% and last month’s 50%. The rising possibility has been fueled by the incoming presidency of President-elect Donald Trump and the subsequent nomination of Paul Atkins as SEC chair. Trump has also begun to assemble his crypto council by naming Bo Hines the executive director and David Sacks, a former PayPal executive, as “crypto czar.” Solana ETF approval odds are rising | Source:…

FTX’s bankruptcy costs are approaching $1 billion, making it one of the most expensive Chapter 11 cases in U.S. history. Court records show that nearly $948 million has been paid to legal and financial firms working on the case, with over $952 million in fees approved so far. Despite the hefty costs, most customers are expected to recover 118% of their claims, a rare outcome in bankruptcy proceedings, according to Bloomberg. The high fees stem from efforts to recover billions of dollars in assets spread across a complex web of accounts. Lawyers and financial advisers have played a crucial role…

HIVE Digital starts construction on a 100 MW hydroelectric Bitcoin mining facility in Paraguay to expand its mining capacity. The company projects a 6.5 EH/s increase in hashrate, boosting total capacity to 12.1 EH/s upon completion of the new site. The project expects to generate over $100 million in revenue for Paraguay’s national utility over three years. HIVE Digital Technologies Ltd. has commenced construction of a 100-megawatt (MW) hydroelectric-powered Bitcoin mining facility in Paraguay. Recent aerial images shared by Documenting Bitcoin show the site’s early development stages. Expansion Plans and Revenue Projections HIVE Digital Technologies has projected an expansion of…

Today, approximately $5.79 billion worth of Bitcoin (BTC) and Ethereum (ETH) options are due to expire. Market watchers are particularly attentive to this event due to its potential to influence short-term trends through the volume of contracts and their notional value. Examining the put-to-call ratios and maximum pain points can provide insights into traders’ expectations and possible market directions. Insights on Today’s Expiring Bitcoin and Ethereum Options The notional value of today’s expiring BTC options is $4.68 billion. According to Deribit’s data, these 58,633 expiring Bitcoin options have a put-to-call ratio 0.71. This ratio suggests a prevalence of purchase options…

A major Ethereum whale transferred 14,000 ETH worth $31.92M through Wintermute OTC. The whale originally accumulated 35,932 ETH at an average of $203.22 per ETH. Other whales accumulated 110,000 ETH in 72 hours, while Ethereum’s price dipped. A major Ethereum whale reportedly moved 14,000 ETH through Wintermute OTC, a transaction worth approximately $31.92 million. If sold, the whale could realize a profit of about $29.07 million. The transaction has drawn attention due to the whale’s long history of holding Ethereum since 2016. Historic Ethereum Holdings and Large-Scale Transactions Blockchain records in a post on X by Aunt Ai indicate that…

The Nasdaq Stock Market LLC, acting on behalf of Canary Capital, submitted a 19b-4 filing with the U.S. Securities and Exchange Commission (SEC) on Monday for a spot Hedera (HBAR) exchange-traded fund (ETF). The filing follows Canary Capital’s earlier S-1 registration for the fund in November. The proposed ETF aims to provide direct exposure to Hedera’s native cryptocurrency used for transactions on the network. Regulatory Filing Process and Approval Timeline The 19b-4 filing marks the second phase of the regulatory process required for crypto ETFs. Once the SEC acknowledges the filing, it will be published in the Federal Register, triggering…

The Ethereum (ETH)-based virtual reality platform Decentraland (MANA) continues to clock more development activity than any other non-fungible token (NFT) project, according to the crypto analytics firm Santiment. Santiment notes on the social media platform X that Decentraland registered 116.27 notable GitHub events in the past 30 days. Decentraland also led the rankings in November, October, and September. Flow (FLOW), a layer-1 permissionless blockchain, ranked second with 103.87 events, while the NFT layer-2 scaling solution Immutable X (IMX) ranked a distant third with 31.43. Source: Santiment Santiment notes that it does not count routine updates and utilizes a “better methodology”…

Blockchain-driven battle royale shooter Off the Grid has launched what Gunzilla Games is calling its “biggest update yet” by unlocking a region of the map, adding a new cyberlimb into the game, and debuting a new “street event.” Off the Grid made a major splash when it entered early access back in October, due to its blend of the battle royale and extraction shooter genres, combined with quirky characters in a reality TV-inspired setting. It quickly became the most popular free-to-play game on the Epic Games Store, surpassing Fortnite in the process, and later won Decrypt’s Game of the Year…

Coinbase has partnered with Onboard Global to offer Nigerian users secure and efficient cryptocurrency trading. Shielding Coinbase from Regulatory Risk Coinbase and Onboard Global have partnered to provide secure and efficient cryptocurrency trading for Nigerian users. The collaboration enables the purchase of cryptocurrency with local currency through a peer-to-peer (P2P) exchange, with streamlined verification and lower fees. For users purchasing cryptocurrency worth $100 or less, identity (ID) verification is not required. According to a report, Coinbase had previously avoided the Nigerian market, deeming it high-risk. Furthermore, starting in the first half of 2024, Nigerian authorities clamped down on global cryptocurrency…

Miner Extractable Value. That phrase is essentially one of the biggest fundamental risk spaces that exist for blockchain based systems. The original conception of a blockchain included incentives for miners (or other consensus participants deciding transaction ordering) to earn revenue based on whatever initial block subsidy is entered into circulation each block in addition to fees paid by users to have their transactions confirmed. These two things are no longer the only sources of revenues that incentivize the actions of miners. More complicated contracts and protocols now exist to facilitate the creation of, and exchange between, different assets hosted on…